Gold: $1085.50 down $11.60 (comex closing time)
Silver $13.74 down 12 cents
In the access market 5:15 pm
Gold $1086.50
Silver: $13.79
At the gold comex today, we had a poor delivery day, registering 0 notices 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 200.28 tonnes for a loss of 103 tonnes over that period.
In silver, the open interest fell by 1526 contracts down to 166,440. In ounces, the OI is still represented by .832 billion oz or 118% 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 fell by a monstrous 16,413 contracts to 407,544 contracts as gold was down $1.30 in yesterday’s trading. (although down around 15 dollars from the access price)
We had no change in inventory at the GLD, / thus the inventory rests tonight at 651.68 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 changes to inventory/Inventory rests at 316.368 million oz.
First, here is an outline of what will be discussed tonight:
This post was published at Harvey Organ Blog on January 12, 2016.
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