Good evening Ladies and Gentlemen:
Gold: $1,356.40 UP $19.70 (comex closing time)
Silver 19.87 UP 33 cents
In the access market 5:15 pm
And now for the July contract month
For the July gold contract month, we had a huge 1,019 notices served upon for 101,900 ounces. The total number of notices filed so far for delivery: 4019 for 401900 oz or 12.50 tonnes
In silver we had 326 notices served upon for 1,630,000 oz. The total number of notices filed so far this month for delivery: 682 for 3,410,000 oz
Let us have a look at the data for today
Starting last night on several occasions the bankers tried knocking gold down . At first gold was whacked to 1238.00 but it quickly recovered and by comex trading time it was already in positive territory. Not to be undone, the bankers again whacked gold down to 1244 and again like the Duracell battery rabbit, the gold price rose again. It was the high open interest on gold (as well as silver) that are bothering our bankers. Both gold and silver are within spitting distance of their all time highs in OI Tomorrow’s OI reading (for today’s trading) will be astronomical especially for gold and I can see another raid coming as the bankers are getting quite desperate.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 293.85 tonnes for a loss of 9 tonnes over that period
In silver, the total open interest rose by a considerable 3139 contracts up to 214,668, AND STILL CLOSE TO AN ALL TIME RECORD. THE OI ROSE AS THE PRICE OF SILVER GALLOPED HIGHER BY 96 CENTS IN FRIDAY’S TRADING. In ounces, the OI is still represented by just over 1 BILLION oz i.e. 1.073 BILLION TO BE EXACT or 153% of annual global silver production (ex Russia &ex China). The bankers are running FOR THE HILLS as they saw silver jump immediately into the $19 handle today.
In silver we had 326 notices served upon for 1,630,000 oz.
In gold, the total comex gold ROSE BY A WHOPPING 19,580 contracts with gold’s RISE in price ON FRIDAY to the tune of $18.30.
With respect to our two criminal funds, the GLD and the SLV:
Surprisingly we had no changes in gold inventory./
Total gold inventory rest tonight at: 953.91 tonnes
No changes in silver inventory at the SLV
Inventory rests at 333.544 million oz.
First, here is an outline of what will be discussed tonight:
This post was published at Harvey Organ Blog on July 5, 2016.