Good evening Ladies and Gentlemen:
Here are the following closes for gold and silver today:
Gold: $1149.00 up $2.20 (comex closing time)
Silver $16.09 up 11 cents.
In the access market 5:15 pm
Gold $1146.10
Silver: $16.03
First, here is an outline of what will be discussed tonight:
At the gold comex today, we had a very poor delivery day, registering 0 notices for nil ounces Silver saw 0 notices for 10,000 oz.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 212.75 tonnes for a loss of 90 tonnes over that period.
In silver, the open interest rose by a tiny 829 contracts despite the fact that silver was up a considerable 28 cents on yesterday. We thus must have had some sort of an attempt at short covering by the bankers but it failed. The total silver OI now rests at 156,226 contracts In ounces, the OI is still represented by .781 billion oz or 112% of annual global silver production (ex Russia ex China).
In silver we had 0 notices served upon for nil oz.
In gold, the total comex gold OI rose to 430,228 for a gain of 8,526 contracts. We had 0 notices filed for nil oz today.
We had a sizable withdrawal in tonnage at the GLD to the tune of 1.78 tonnes/ thus the inventory rests tonight at 687.20 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 massive withdrawal in silver inventory at the SLV to the tune of 3.243 million oz / Inventory rests at 315.152 million oz. (somebody urgently needs silver)
We have a few important stories to bring to your attention today…
This post was published at Harvey Organ Blog on October 7, 2015.
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