JUNE 23/LATE TONIGHT NIGEL FARAGE ADMITS DEFEAT/ EXIT POLLS INDICATE 52% REMAIN TO 48% LEAVE: THUS A DIVIDED COUNTRY/MEXICO ON THE BRINK OF A REVOLUTION/CHICAGO’S IMPORTANT NATIONAL ACTIVITY INDE…

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

Good evening Ladies and Gentlemen:
Gold: $1,261.20 DOWN $6.80 (comex closing time)
Silver 17.35 up a tiny 4 cents
In the access market 5:15 pm
Gold: 1257.00
Silver: 17.25
We have now entered options expiry week for the comex and LBMA. As always expect gold and silver to be depressed until the first of July.
The June gold contract is an active contract. Last night we had a fair sized 21 notices filed last night, for 2100 oz to be served upon today. The total number of notices filed in the first 16 days is enormous at 15,416 for 1,541,600 oz. (47.950 tonnes)
ii) in silver we had 2 notices filed for 10,000 oz.. Total number of notices served in the 16 days: 491 for 2,455,000 oz
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 275.27 tonnes for a loss of 28 tonnes over that period
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In silver, the total open interest ROSE by A WHOPPING 7,382 contracts UP to 213,000, AGAIN A NEW ALL TIME RECORD DESPITE THE FACT THAT THE PRICE OF SILVER WAS UNCHANGED with respect to YESTERDAY’S trading. In ounces, the OI is still represented by just over 1 BILLION oz i.e. 1.065 BILLION TO BE EXACT or 152% of annual global silver production (ex Russia &ex China)
In silver we had 2 notices served upon for 10,000 oz.
In gold, the total comex gold OI fell by a HUGE 4998 contracts down to 566,569 as the price of gold was DOWN $2.50 with YESTERDAY’S trading (at comex closing). The bankers were overjoyed with the fall in gold OI but not silver which is giving them nothing but fits
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With respect to our two criminal funds, the GLD and the SLV:
GLD
No changes in gold inventory.
Total gold inventory: 915.90 tonnes
SLV
No change in SLV inventory
Inventory rests at 333.069 million oz.
First, here is an outline of what will be discussed tonight:

This post was published at Harvey Organ Blog on June 23, 2016.