Gold: $1087.90 up $.30 (comex closing time)
Silver $14.42 down 27 cents
In the access market 5:15 pm
Gold $1091.80
Silver: $14.56
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 notice for 100 ounces. Silver saw 0 notices for nil oz.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 208.82 tonnes for a loss of 94 tonnes over that period.
In silver, the open interest surprisingly fell by only 175 contracts despite silver being down 30 cents in Friday’s trading. The total silver OI now rests at 166,740 contracts In ounces, the OI is still represented by .834 billion oz or 119% 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 surprisingly rose by a 2,745 contracts to 438,385 contracts despite the fact that gold was down $16.80 on Friday. We had 0 notices filed for 100 oz today.
We had a huge withdrawal in gold inventory at the GLD to the tune of 2.68 tonnes / thus the inventory rests tonight at 666.11 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. Our 670 tonnes of rock bottom inventory in GLD gold has been broken. 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, after they deplete the GLD will be the FRBNY and the comex. In silver, no change in silver inventory / Inventory rests at 313.681 million oz.
We have a few important stories to bring to your attention today…
This post was published at Harvey Organ Blog on November 9, 2015.
Follow on Twitter
Recent Comments