JAN 26/DEALER COMEX GOLD DOWN TO ONLY 2.30 TONNES/LOWEST EVER IN RECORDED HISTORY/CHINA INJECTS ANOTHER 70 BILLION EQUIVALENT USA TO BOLSTER THE YUAN/THUS NO MONEY TO PROP UP SHANGHAI WHICH LOST 6.4%

Jon Gold, Market Commentary, Precious Metals, Silver

Gold: $1121.70 up $15.50 (comex closing time)
Silver 14.54 up 30 cents
In the access market 5:15 pm
Gold $1121.00
Silver: $14,51
Please forgive me but I was not feeling well all day and as such I did not have my usual energy to deliver you this commentary.
Today is options expiry on the comex. This coming Friday is options expiry on LBMA and on the OTC. We still have a few days to go but today was a good sign that the banker boys are losing control. For years they always whack on options expiry week! Let us see what happens tomorrow and Thursday.
At the gold comex today, we had a poor delivery day, registering 2 notices for 200 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 199.58 tonnes for a loss of 103 tonnes over that period.
In silver, the open interest fell by 3,716 contracts down to 151,439. In ounces, the OI is still represented by .757 billion oz or 108% 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 rose by 1,121 contracts to 400.948 contracts as gold was up $9.00 with yesterday’s trading.
Today both the gold comex and the silver comex are in severe stress with gold in backwardation up to August.
We had no changes in tonnes of gold inventory into the GLD, / thus the inventory rests tonight at 664.17 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 withdrawal of 953,000 oz in inventory and thus/Inventory rests at 310.653 million oz.
First, here is an outline of what will be discussed tonight:

This post was published at Harvey Organ Blog by harveyorgan January 26, 2016.