Gold: $1175.90 up $10.40 (comex closing time)
Silver $16.29 up 43 cents
In the access market 5:15 pm
Gold $1157.00
Silver: $15.99
We are now entering options expiry week: EXPECT GOLD AND SILVER PRICES TO BE SUBDUED FOR THE REST OF THE WEEK
for the Comex gold and silver: OPTIONS EXPIRE tonight Oct 27.
for the LBMA contracts: OPTIONS EXPIRE ON Friday/Oct 30
for OTC contracts:OPTIONS EXPIRE ON Friday Oct 30.
First, here is an outline of what will be discussed tonight:
At the gold comex today, we had a very good delivery day, registering 111 notices for 11,100 ounces Silver saw 5 notices for 25,000 oz.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 208.51 tonnes for a loss of 94 tonnes over that period.
In silver, the open interest fell by a tiny 122 contracts as silver was down 8 cents in yesterday’s trading. The total silver OI now rests at 169,757 contracts In ounces, the OI is still represented by .850 billion oz or 121% of annual global silver production (ex Russia ex China).
In silver we had 5 notices served upon for 25,000 oz.
In gold, the total comex gold OI fell by a considerable 2327 to 466,780 contracts. We had 111 notices filed for 11,100 oz today.
We had a huge withdrawal of 1.2 tonnes of gold inventory at the GLD / thus the inventory rests tonight at 694.34 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, no change in silver inventory / Inventory rests at 315.553 million oz.
We have a few important stories to bring to your attention today…
This post was published at Harvey Organ Blog on October 28, 2015.
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