Good evening Ladies and Gentlemen:
Here are the following closes for gold and SILVER TODAY:
Gold: $1183.70 down $17. 80(comex closing time)
Silver $16.14 up 4 cents.
In the access market 5:15 pm
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 30 notices serviced for 300 oz. Silver comex filed with 0 notices for nil oz.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 245.75 tonnes for a loss of 57 tonnes over that period.
In silver, the open interest rose again by 151 contracts despite Friday’s SILVER PRICE was down by 5 cents. The total silver OI continues to remain extremely high, with today’s reading at 194,742 contracts now at multi-year highs despite a record low price. In ounces, the OI is represented by 973 million oz or 139% of annual global silver production (ex Russia ex China). 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 0 notices served upon for nil oz.
In gold, the total COMEX GOLD OI rests tonight at 421,932 for a gain of 2062 contracts as gold was unchanged on Friday. We had 30 notices filed for 3,000 oz.
we had a huge addition of 3.57 tonnes in gold inventory at the GLD; thus the inventory rests tonight at 705.47 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. I am sure that 700 tonnes is the rock bottom inventory in gold. Anything below this level is just paper and the bankers know that they cannot retrieve ‘paper gold’ to send it onwards to China. In silver, /no change in inventory at the SLV/327.874 million oz
We have a few important stories to bring to your attention today…
1. Today, we had the open interest in silver rise by 3547 contracts to 194,591 despite the fact that silver was down in price by 5 cents on Friday.. The OI for gold rose by 2062 contracts up to 421,932 contracts as THE PRICE OF GOLD was unchanged on Friday.
2. Today, 10 important commentaries on Greece
zero hedge, Reuters/Bloomberg
3. Saudi Arabia and Russia sign 6 cooperative deals putting another dagger into the heart of the USA dollar
4. GOLD TRADING overnight
5. Trading from Asia and Europe overnight
6. Trading of equities/ New York
7. Bill Holter’s commentary tonight is title:
‘It’s already in the market’
8. Koos Jansen comments on gold demand from China
9. First Majestic Silver’s CEO explains why he issued his complaint to the CFTC on the manipulation of silver.
we have these plus other stories to bring your way tonight. But first……..
This post was published at Harvey Organ Blog on June 22, 2015.