Good evening Ladies and Gentlemen:
Here are the following closes for gold and SILVER TODAY:
Gold: $1118.60 up $5.70 (comex closing time)
Silver $15.30 up 9 cents.
In the access market 5:15 pm
Gold $1117.30
Silver: $15.34
First, here is an outline of what will be discussed tonight:
At the gold comex today, we had a poor delivery day, registering 0 notice for nil ounces Silver saw 0 notices for nil oz
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 227.62 tonnes for a loss of 75 tonnes over that period.
In silver, the open interest fell by 364 contracts as silver was down in price by 18 cents on Friday. The total silver OI continues to remain extremely high, with today’s reading at 174,507 contracts In ounces, the OI is represented by .872 billion oz or 124% 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 431,081. We had 0 notices filed for nil oz today.
We had no changes at the GLD today / thus the inventory rests tonight at 671.87 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 thought that 700 tonnes is the rock bottom inventory in GLD gold, but I guess I was wrong. However we must be coming pretty close to a level of only paper gold and the GLD being totally void of physical gold. In silver, we had no changes in silver inventory at the SLV tune of / Inventory rests at 324.968 million oz.
We have a few important stories to bring to your attention today…
This post was published at Harvey Organ Blog on August 17, 2015.
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