MARCH 21/ANOTHER HUGE ADDITION OF 2.68 TONNES OF GOLD INTO THE GLD/GOLD OPEN INTEREST REMAINS EXTREMELY HIGH AND THUS THE REASON FOR THE RAID, CAUSING GOLD TO FALL 10 DOLLARS/SILVER BUCKS THE TRE…

Jon Corruption, Gold, Market Commentary, Precious Metals, Silver

Gold: $1,243.80 down $10.00 (comex closing time)
Silver 15.84 up 3 cents
In the access market 5:15 pm
Gold $1243.50
silver: 15.82
The open interest on gold lowered by a tiny 4950 contracts despite the big hit on Friday.
No wonder another raid today.
The open interest on silver lowered by a sliver 961 contracts and remains elevated at 176,529. With Chinese banks orchestrating the silver fix right now with other bankers
(gold fix begins on April 17), it seems that they are losing control over the silver market.
Let us have a look at the data for today.
At the gold comex today, we had a good delivery day, registering 37 notices for 3700 ounces and for silver we had 78 notices for 390,000 oz for the active March delivery month.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 212.48 tonnes for a loss of 90 tonnes over that period.
In silver, the open interest fell by a tiny 961 contracts down to 176,529 as the silver down by 22 cents on Friday . In ounces, the OI is still represented by .882 billion oz or 127% of annual global silver production (ex Russia ex China).
In silver we had 78 notices served upon for 390,000 oz.
In gold, the total comex gold OI fell also by a smallish 4950 contracts to 503,312 contracts as the price of gold was DOWN $10.70 with Friday’s trading.(at comex closing). .
WHAT ON EARTH IS GOING ON INSIDE THE GLD. We had another big change in gold inventory at the GLD, another deposit of 2.68 tonnes; and this addition took place with gold falling by $10.00 today!!/ thus the inventory rests tonight at 821.66 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 the Inventory rests at 328.533 million oz.
First, here is an outline of what will be discussed tonight:

This post was published at Harvey Organ Blog on March 21, 2016.