Good evening Ladies and Gentlemen:
Here are the following closes for gold and silver today:
Gold: $1144.70 down $4.30 (comex closing time)
Silver $15.76 down 33 cents.
In the access market 5:15 pm
Gold $1139.50
Silver: $15.70
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 207.73 tonnes for a loss of 95 tonnes over that period.
In silver, the open interest fell by a tiny 484 contracts despite the fact that silver was up 11 cents on yesterday. We thus must have had some sort of an attempt at short covering by the bankers but it failed and thus the reason for the raid in silver this morning. The total silver OI now rests at 155,742 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 0 notices served upon for nil oz.
In gold, the total comex gold OI rose to 431,298 for a gain of 1070 contracts. We had 0 notices filed for nil oz today.
We had no changes in tonnage at the GLD / 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 no changes in silver inventory at the SLV / Inventory rests at 315.152 million oz.
We have a few important stories to bring to your attention today…
This post was published at Harvey Organ Blog on October 8, 2015.
Follow on Twitter
Recent Comments