JUNE 10/GLD LOSES ANOTHER 3 TONNES OF GOLD/SLV SURPRISINGLY ADDS ANOTHER 1.124 MILLION OZ/THE ECB PROVIDES ANOTHER 2.5 BILLION EUROS OF ELA TO GREECE/HUGE LINES UP TO WITHDRAW CASH FROM GREEK BANKS

Jon Gold, Market Commentary, Precious Metals, Silver

Good evening Ladies and Gentlemen:
Here are the following closes for gold and silver today:
Gold: $1186.10 up $8.80 (comex closing time)
Silver $15.95 unchanged (comex closing time)
In the access market 5:15 pm
Gold $1176.30
Silver: $15.97
Gold/Silver trading: see kitco charts on the right side of the commentary
Following is a brief outline on gold and silver comex figures for today:
At the gold comex today, we had a poor delivery day, registering 0 notices serviced for nil oz. Silver comex filed with 6 notices for 30,000 oz.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 245.44 tonnes for a loss of 58 tonnes over that period.
In silver, the open interest rose by another 3168 contracts even though Tuesday’s silver price was unchanged. The total silver OI continues to remain extremely high with today’s reading at 189,524 contracts now at multi-year highs despite a record low price. In ounces, the OI is represented by 947 million oz or 118% of annual global silver production. This dichotomy has been happening now for quite a while and defies logic. There is no doubt that the silver situation is scaring our bankers to no end as they continue to raid as basically they have no other alternative.
In silver we had 6 notices served upon for 30,000 oz.
In gold, the total comex gold OI rests tonight at 406,069 for a loss of 1824 contracts despite the fact that gold was up $4.10 yesterday. We had 0 notices filed for nil oz.
Late last night, we had a huge withdrawal in gold inventory at the GLD t the tune of 2.98 tonnes. Thus the inventory rests tonight at 705.72 tonnes. The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold.
In silver, /we had another huge addition of 1.126 million oz in silver inventory at the SLV/Inventory rests at 324.127 million oz
We have a few important stories to bring to your attention today…

This post was published at Harvey Organ Blog on June 10, 2015.