Good evening Ladies and Gentlemen:
Here are the following closes for gold and silver today:
Gold: $1102.40 down $18.20 (comex closing time)
Silver $14.57 down 18 cents.
In the access market 5:15 pm
Gold $1106.50
Silver: $14.65
First, here is an outline of what will be discussed tonight:
At the gold comex today we had a poor delivery day, registering 4 notices for 400 ounces Silver saw 3 notices for 15,000 oz.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 219.98 tonnes for a loss of 83 tonnes over that period.
In silver, the open interest fell by 1891 contracts despite the fact that silver was up in price by 21 cents yesterday. Again, our banker friends used the opportunity to cover as many silver shorts as they could but failed. The total silver OI now rests at 155,615 contracts In ounces, the OI is still represented by .778 billion oz or 111% of annual global silver production (ex Russia ex China).
In silver we had 3 notices served upon for 15,000 oz.
In gold, the total comex gold OI surprisingly rose to 421,732 for a gain of 2,730 contracts. We had 4 notices filed for 400 oz today.
We had no changes 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 big withdrawal in silver inventory at the SLV to the tune of 1.336 million oz/Inventory rests at 322.06 million oz.
We have a few important stories to bring to your attention today…
This post was published at Harvey Organ Blog on September 9, 2015.
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