Gold closed up 4.20 at $1221.20 (comex to comex closing time ). Silver was up 1 cent at $17.71
In the access market tonight at 5:15 pm
gold: $1215.00
silver: $17.75
GLD : we lost 1.20 tonnes of gold at the GLD (inventory now at 773.45 tonnes)
SLV : again we had a huge addition 2.397 million oz of silver inventory/note the difference between gold and silver. Physical gold that arrives from the Bank of England is sent down to Shanghai who lately has been receiving greater than 40 tonnes per week with the lower gold prices. In silver, there is no reason to raid the SLV because there is no physical silver to provide India or China.
We will discuss these and other stories
So without further ado………………
Let’s head immediately to see the data has in store for us today.
First: GOFO rates/
All months basically moved towards the positive needle as they must have found a few bars to lease. On the 22nd of September the LBMA stated that they will not publish GOFO rates. However today we still received today’s GOFO rates
London good delivery bars are still quite scarce.
Sept 23 2014
1 Month Rate: 2 Month Rate 3 Month Rate 6 month rate 1 yr rate
.1075000% .110000% .11250000% .1200% .225000%
Sept 22 .2014:
1 Month Rate 2 Month Rate 3 Month Rate 6 month Rate 1 yr rate
10600% .106000% .11000% .11800% .22400%
end
Let us now head over to the comex and assess trading over there today,
This post was published at Harvey Organ on September 23, 2014.
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