Gold: $1076.30 down $.10 (comex closing time)
Silver $14.09 down 31 cents
In the access market 5:15 pm
Gold $1075.00
Silver: $14.16
At the gold comex today, we had an extremely poor delivery day, registering 120 notices for 12,000 ounces. And this is the biggest delivery month of the year for gold? Silver saw only 1 notice for 5,000 oz.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 196.47 tonnes for a loss of 106 tonnes over that period.
In silver, the open interest rose by a smallish 512 contracts despite the fact that silver was down 19 cents with respect to Monday’s trading. The total silver OI now rests at 162,910 contracts In ounces, the OI is still represented by .815 billion oz or 116% of annual global silver production (ex Russia ex China).
In silver we had 1 notice served upon for 5,000 oz.
In gold, the total comex gold OI rose by a large 5,288 contracts as the OI rose to 394,401 contracts despite the fact that gold was down by $8.10 with respect to Monday’s trading. Today the bankers provided the initial HFT and the specs longs continued their assault on the short side but this failed as the bankers continued their assault on the specs by continually buying.
We had no changes in gold inventory at the GLD, / thus the inventory rests tonight at 634.63 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 no change in silver inventory at the SLV/Inventory rests at 321.507 million oz
First, here is an outline of what will be discussed tonight:
This post was published at Harvey Organ Blog on December 8, 2015.
Follow on Twitter
Recent Comments