JULY 2/PHONY JOBS REPORT/ OF THE 223,000 SUPPOSED JOB GAINS 213,000 CAME FROM B/D/IMF THROWS THE EU UNDER THE BUS/MANY GREECE STORIES/GOLD HIT IN PRICE/SILVER AND GOLD OI CONTINUE TO RISE!!

Good evening Ladies and Gentlemen:
Here are the following closes for gold andSILVER TODAY:
Gold: $1163.00 down $6.50 (comex closing time)
Silver $15.54 down 1 cent.
In the access market 5:15 pm
Gold $1167.00
Silver: $15.68
First, here is an outline of what will be discussed tonight:
At the gold comex today, we had a good delivery day, registering 300 notices for 30,000 ounces . Silver saw 1115 notices filed for 5,575,000 oz.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 250.01 tonnes for a loss of 53 tonnes over that period.
In silver, the open interest rose by 1113 contracts despite the fact that Wednesday’s price was unchanged. The total silver OI continues to remain extremely high, with today’s reading at 197,837 contracts now at decade highs despite a record low price. In ounces, the OI is represented by .989 billion oz or 141% 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. There can only be one answer as to how the OI ofCOMEX SILVER is now just under 1 billion oz coupled with a low price under 16.00 dollars: sovereign China through proxies are the long and they have extremely deep pockets. This is the first time in almost two years that the open interest in an active delivery month did not collapse in number.
InSILVER WE had 1110 notices served upon for 5,565,000 oz. for July
In gold, the totalCOMEX GOLD OI rests tonight at 446,319 for a gain of 4018 contracts even though gold was down $2.50 yesterday. We had 300 notices filed for 30,000 oz today.
We had a huge withdrawal in tonnage at the gold inventory at the GLD to the tune of 1.79 tonnes; thus the inventory rests tonight at 709.65 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 no change in inventory at the SLV to the tune / Inventory now rests at 325.342 million oz.
We have a few important stories to bring to your attention today…

This post was published at Harvey Organ Blog on July 2, 2015.