Good evening Ladies and Gentlemen:
Gold: $1,244.60 UP $4.50 (comex closing time)
Silver 16.42 up 8 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, THURSDAY, we had another whopper of 1969 notices for 196,900 oz or 6.12 tonnes. FRIDAY, saw another huge 1026 notices filed for 102600 oz (3.19 tonnes). Then on Friday night we had a whopping 2981 notices filed for Monday totaling 2981 contracts for 298100 oz. Thus in 5 days a total of 11,765 notices have been filed for 1,176,500 oz or 36.59 tonnes. WHAT IS MORE FASCINATING WAS THE FRONT JUNE MONTH INCREASED IN NET OI BY 678 CONTRACTS ON THURSDAY(67,800 OZ). ON FRIDAY IT INCREASED BY 78 CONTRACTS OR 7800 OZ AND TODAY IT INCREASED BY 264 CONTRACTS OR 26400 OZ. THE ENTITY STANDING DOES NOT WANT FIAT AND IT SURE LOOKS LIKE A SOVEREIGN (CHINA) IS STANDING FOR 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 269.211 tonnes for a loss of 34 tonnes over that period
In silver, the total open interest FELL by 697 contracts DOWN to 194,908 DESPITE THE FACT THAT THE PRICE OF SILVER WAS UP by 34 cents with respect to FRIDAY’S trading. In ounces, the OI is still represented by just under 1 BILLION oz i.e. 0.974 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 ROSE by a CONSIDERABLE 15,163 contracts UP to 496,259 as the price of gold was UP $30.30 with FRIDAY’S trading(at comex closing).
With respect to our two criminal funds, the GLD and the SLV:
WITH RESPECT TO GLD
We had no changes in inventory at the GLD/Inventory rests at 881.44 tonnes
And now for SLV
We had no changes in inventory at the SLV/Inventory/Tonight it rests at 337.299 million oz.
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 6, 2016.