Gold: $1116.10 down $5.60 (comex closing time)
Silver 14.44 down 10 cents
In the access market 5:15 pm
Gold $1125.00
Silver: $14,49
At the gold comex today, we had a good delivery day, registering 152 notices for 15,200 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 rose by 3,295 contracts up to 154,734. In ounces, the OI is still represented by .73 billion oz or 110% 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 whopping 15,598 contracts to 385,350 contracts despite the fact that gold was up $15.50 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 a huge changes in gold inventory to the tune of 5.06 tonnes into the GLD, / thus the inventory rests tonight at 669.23 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 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 on January 27, 2016.
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