JULY 26/ANOTHER WHOPPER OF A COMEX GOLD NOTICE LAST NIGHT FOR TODAY: 435 CONTRACT FOR 43,500 OZ/ TOTAL GOLD STANDING THIS MONTH: 41.437 TONNES/JAPAN SET TO DO HELICOPTER MONEY/MARKETS DISTRAUGHT …

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

Gold:1320.70 up $1.40
Silver 19.66 up 4 cents
In the access market 5:15 pm
Gold: 1316.00 (THE CROOKS DROVE IT DONE IN THE ACCESS MARKET)
Silver: 19.58
For the July gold contract month, we had ANOTHER GIGANTIC 435 notices served upon for 43,500 ounces. The total number of notices filed so far for delivery: 6880 for 688,000 oz or 21.3996 tonnes
In silver we had 71 notices served upon for 355,000 oz. The total number of notices filed so far this month for delivery: 2350 for 11,750,000 oz
We are now entering options expiry month for gold and silver:
i)The comex options expiry TODAY July 26.
ii)The OTC options in London expire Friday at noon July 29.
So expect downward drafts in gold and silver trading until both of these contracts expire.
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 311.698 tonnes for a gain of 9 tonnes over that period
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In silver, the total open interest FELL BY ONLY 121 contracts DOWN to 220,312 AND CLOSE TO AN NEW ALL TIME RECORD AS THE PRICE OF SILVER FELL BY 4 CENTS IN YESTERDAY’S TRADING. In ounces, the OI is still represented by just over 1 BILLION oz i.e. 1.102 BILLION TO BE EXACT or 157% of annual global silver production (ex Russia &ex China).
In silver we had 71 notices served upon for 1355,000 oz.
In gold, the total comex gold ROSE BY A CONSIDERABLE 12,011 contracts despite the fact that the price of gold FELL by $3.40 yesterday. The total gold OI stands at 609,422 contracts.
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With respect to our two criminal funds, the GLD and the SLV:
GLD
we had A HUGE WITHDRAWAL in gold inventory TO THE TUNE OF 4.46 TONNES. /
Total gold inventory rest tonight at: 954.23 tonnes
SLV
we had no changes into the SILVER INVENTORY TO THE SLV
Inventory rests at 348.580 million oz.
First, here is an outline of what will be discussed tonight:

This post was published at Harvey Organ Blog on July 26, 2016.