Good evening Ladies and Gentlemen:
Here are the following closes for gold and silver today:
Gold: $1109.50 up $7.30 (comex closing time)
Silver $14.64 up 7 cents.
In the access market 5:15 pm
Gold $1111.75
Silver: $14.70
Today’s quote from our good friend Dennis Gartman:
*Dennis Gartman…
‘We also note a rising sense of interest on the part of the Gold Bugs that there is a growing dichotomy between deliverable supplies of gold against the COMEX futures and the futures themselves. We do not often allow ourselves to ‘throw in’ with the Bugs, but in this instance there may be something to the speculation.’
something stimulated his brain today!!
First, here is an outline of what will be discussed tonight:
At the gold comex today we had a poor delivery day, registering 1 notice for 100 ounces Silver saw 136 notices for 680,000 oz.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 218.81 tonnes for a loss of 84 tonnes over that period.
In silver, the open interest rose by 308 contracts despite the fact that silver was down in price by 18 cents yesterday. Again, our banker friends tried to use the opportunity to cover as many silver shorts as they could but failed. The total silver OI now rests at 155,923 contracts In ounces, the OI is still represented by .779 billion oz or 111% of annual global silver production (ex Russia ex China).
In silver we had 136 notices served upon for 680,000 oz.
In gold, the total comex gold OI fell to 417,895 for a loss of 3,837 contracts. We had 1 notice filed for 100 oz today.
Last last night we had a huge change in tonnage at the GLD, namely a withdrawal of 4.41 tonnes/ thus the inventory rests tonight at 678.18 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 no changes in silver inventory at the SLV /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 10, 2015.
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