JUNE 23/IMF REJECTS THE GREEK PROPOSAL/SLV LOSES 956,000 OZ/GLD REMAINS PAT/TED BUTLER WRITES A SCATHING ATTACK ON JPMORGAN/

Good evening Ladies and Gentlemen:
Here are the following closes for gold and SILVER TODAY:
Gold: $1176.20 down $7.50(comex closing time)
Silver $15.73 down 41 cents.
In the access market 5:15 pm
Gold $1178.50
Silver: $15.86
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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 51 notices for 255,000 oz. Remember we are entering options expiry week: This Thursday, the COMEX GOLD and silver expires and then next Tuesday, we have options expiry on the gold/silver LBMA contracts and on the OTC contracts. So gold and silver will be subdued in price for the next 7 days.
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 623 contracts despite yesterday’s slight SILVER PRICE rise by only 4 cents. The total silver OI continues to remain extremely high, with today’s reading at 195,364 contracts now at multi-year highs despite a record low price. In ounces, the OI is represented by 977 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 51 notices served upon for 255,000 oz.
In gold, the total COMEX GOLD OI rests tonight at 419,884 for a gain of 2048 contracts as gold was down $17.80 yesterday. We had 0 notices filed for nil oz.
we had no changes 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, /we had a small withdrawal in inventory at the SLV of 956,000 oz/326.918 million oz
We have a few important stories to bring to your attention today…

This post was published at Harvey Organ Blog on June 23, 2015.