Gold: $1080.90 down $3.90 (comex closing time)
Silver $14.22 down 4 cents
In the access market 5:15 pm
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 nil 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 209.72 tonnes for a loss of 93 tonnes over that period.
In silver, the open interest surprisingly rose by a considerable 3,553 contracts despite silver being down by 6 cents in yesterday’s trading. The total silver OI now rests at 165,988 contracts In ounces, the OI is still represented by .829 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 fell by a huge 8442 contracts to 427,984 contracts as gold was down by $0.30 yesterday. It seems the modus operandi of the bandits is to liquefy gold/silver OI as be approach first day notice on Monday, November 30. They succeeded in gold but not silver. We had 0 notices filed for nil today.
We had a huge withdrawal in gold inventory at the GLD to the tune of 1.49 tonnes / thus the inventory rests tonight at 661.94 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, we had a huge addition in silver inventory to the tune of 1.43 milllion oz / Inventory rests at 315.111 million oz.
We have a few important stories to bring to your attention today…
This post was published at Harvey Organ Blog on November 12, 2015.