MAY 4B/OPEN INTEREST RISES AN ASTONISHING 17,000 CONTRACTS AND 65,000 CONTRACTS IN 4 DAYS/CHINA AGAIN REISSUES WARNING TO THE USA NOT TO RAISE INTEREST RATES OR ELSE THEY WILL HUGELY DEVALUE/ THA…

Good evening Ladies and Gentlemen:
Gold: $1,273.30 down $17.40 (comex closing time)
Silver 17.28 down 19 cents
In the access market 5:15 pm
Gold $1281.80
silver: 17.38
Let us have a look at the data for today.
At the gold comex today we had a POOR delivery day, registering 0 notices for NIL ounces for gold, and for silver we had 143 notices for 715,000 oz for the non active April delivery month.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 228.04 tonnes for a loss of 75 tonnes over that period.
In silver, the open interest fell by 1022 contracts down to 198,237 as the price was silver was down by 19 cents with respect to yesterday’s trading. In ounces, the OI is still represented by just under 1 BILLLION oz i.e. .991 BILLION TO BE EXACT or 141% of annual global silver production (exRussia &ex China) We are now within spitting distance of all time highs for OI with respect to silver
In silver we had 143 notices served upon for 715,000 oz.
In gold, the total comex gold OI ROSE BY AN EARTH SHATTERING 17,273 CONTRACTS UP to 565,774 contracts DESPITE THE FACT THAT THE PRICE OF GOLD WAS DOWN $4.00 with YESTERDAY’S TRADING(at comex closing).
We had a small addition in tonnes of gold inventory at the GLD at .6 tonnes; thus the inventory rests tonight at 825.54 tonnes. . 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’s SLV, we had a large withdrawal of 1.553 million oz in silver . Thus the inventory rests at 337.261 million oz..
First, here is an outline of what will be discussed tonight:

This post was published at Harvey Organ Blog on May 4, 2016.

 

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