Good evening Ladies and Gentlemen:
Gold: $1,240.10 UP $30.30 (comex closing time)
Silver 16.34 up 34 cents
In the access market 5:15 pm
i) the June gold contract is an active contract and the second biggest delivery month of the year following December. Friday night, the bankers first day delivery issuance to our longs to be settled on June 1 was huge: the number was 3,508 gold notices for 350,800 oz or 10.9 tonnes of gold. On day two, we had another huge number of gold notices filed at 2281 for 228100 oz or 7.09 tonnes of gold. On day 3, YESTERDAY, we had another whopper of 1969 notices for 196,900 oz or 6.12 tonnes. TODAY, we had another huge 1026 notices filed for 102600 oz (3.19 tonnes) Thus in 4 days a total of 8,784 notices have been filed for 878,400 oz or 27.32 tonnes. WHAT IS MORE FASCINATING WAS THE FRONT JUNE MONTH INCREASED IN NET OI BY 678 CONTRACTS YESTERDAY. TODAY IT INCREASED BY 78 CONTRACTS OR 7800 OZ. THE ENTITY STANDING DOES NOT WANT FIAT AND IT SURE LOOKS LIKE A SOVEREIGN (CHINA) IS STANDING FOR GOLD. As I stated yesterday: ‘there is no question that the bankers have uttered these words to one another: ‘Houston, we have a problem in gold.’
Let us have a look at the data for today.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 269.31 tonnes for a loss of 34 tonnes over that period
In silver, the total open interest FELL by 1912 contracts DOWN to 195,605 DESPITE THE FACT THAT THE PRICE OF SILVER WAS UP by 9 cents with respect to YESTERDAY’S trading. In ounces, the OI is still represented by just under 1 BILLION oz i.e. 0.978 BILLION TO BE EXACT or 139% 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 CONSIDERABLE 5,698 contracts DOWN to 481,096 as the price of gold was down $2.10 with YESTERDAY’S trading(at comex closing).
With respect to our two criminal funds, the GLD and the SLV:
Two biggies!! in GLD
a)We had a good size deposit in gold inventory at the GLD at 4.46 tonnes late last night and no doubt that this was a paper deposit. The inventory rested early this morning at 875.20 tonnes. .
b) then late tonight a massive paper deposit of: 6.25 tonnes/Thus GLD rests this weekend at 881.44 tonnes/ TOTAL GAIN TONIGHT: 10.71 TONNES
And now for SLV
We had a gigantic deposit of 1,560,000 oz in silver inventory at the SLV/Inventory rests at 337.299 million oz. No doubt that this is also a paper entry of a deposit.
Both the GLD and SLV are massive frauds as they have no metal behind them!
First, here is an outline of what will be discussed tonight:
This post was published at Harvey Organ Blog on June 3, 2016.