Gold: $1,248.20 up $4.40 (comex closing time)
Silver 15.87 up 3 cents
In the access market 5:15 pm
Let us have a look at the data for today.
At the gold comex today, we had a good delivery day, registering 61 notices for 6100 ounces and for silver we had 65 notices for 325,000 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 rose by 487 contracts up to 177,016 despite the fact that the silver price was up by 3 cents with respect to yesterday’s trading . In ounces, the OI is still represented by .885 billion oz or 127% of annual global silver production (ex Russia ex China).
In silver we had 65 notices served upon for 325,000 oz.
In gold, the total comex gold OI rose 840 contracts to 504,152 contracts despite the fact that the price of gold was DOWN $10.00 with yesterday’s trading.(at comex closing). .
No changes tonight in the GLD/ 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 a huge deposit of 1.809 million oz in inventory, and thus the Inventory rests at 330.342 million oz.
First, here is an outline of what will be discussed tonight:
This post was published at Harvey Organ Blog on March 22, 2016.