Good evening Ladies and Gentlemen:
Here are the following closes for gold and silver today:
Gold: $1131.60 down $1.50 (comex closing time)
Silver $14.57 up 3 cents.
In the access market 5:15 pm
Here is the schedule for options expiry:
LBMA: options expire Monday, August 31.2015:
OTC contracts: Monday August 31.2015:
First, here is an outline of what will be discussed tonight:
I reported to you late Friday night, that an additional 58 contracts of gold were served upon. There has been no additional filings.
At the gold comex today on first day notice, we had a poor delivery day, registering only 4 notices for 400 ounces Silver saw 167 notices for 835,000 oz.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 224.60 tonnes for a loss of 78 tonnes over that period.
In silver, the open interest fell by 5161 contracts despite the fact that silver was up in price by 12 cents on Friday. Again, our banker friends used the opportunity to cover as many silver shorts as they could. The total silver OI now rests at 158,436 contracts In ounces, the OI is still represented by .819 billion oz or 117% of annual global silver production (ex Russia ex China).
In silver we had 167 notices served upon for 835,000 oz.
In gold, the total comex gold OI collapsed to 413,158 for a loss of 2479 contracts. We had 4 notices filed on first day notice for 400 oz today.
We had no change in tonnage at the GLD today/ thus the inventory rests tonight at 682.59 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. It sure looks like 670 tonnes will be the rock bottom inventory in GLD gold. It looks to me that China has taken the last amounts of physical gold from the GLD. I guess the only place left for China to receive physical gold will be the FRBNY and the comex. In silver, we had a huge addition of 954,000 in silver inventory at the SLV tune of / Inventory rests at 325.922 million oz.
We have a few important stories to bring to your attention today…
This post was published at Harvey Organ Blog on August 31, 2015.