AUGUST 11/GOLD AND SILVER FALL A BIT AS THE BANKERS AGAIN ATTACK IN THE NON PHYSICAL TIME ZONE/RUSSIA PULLS OUT OF PEACE TALKS WITH THE UKRAINE/TURKEY CONTINUES TO ADVANCE TOWARDS RUSSIA: TODAY T…

Jon Gold, Market Commentary, Precious Metals, Silver

Gold:1342.80 DOWN $1.80
Silver 19.98 DOWN 15 cents
In the access market 5:15 pm
Gold: 1338.75
Silver: 19.95
Something is bothering our crooked bankers as they continue their raid on both gold/silver in the non physical time zones. Gold rises until 4 am est when Shanghai and London do their precious metals fix. The metals then trade southbound until 10 am est, the second London fix. When London is put to bed, then the crooks raid as we are out of the physical zone. No doubt the high amount of gold standing for August is troubling them, the high amount of gold OI standing for September and the high amount of open interest standing for silver is also troubling to the bankers.
For the August gold contract month, we had a small sized 34 notices served upon for 3400 ounces. The total number of notices filed so far for delivery: 11,679 for 1,167,900 oz or tonnes or 36.326 tonnes. The total amount of gold standing for August is 43.9 tonnes.
In silver we had 0 notices served upon for nil oz. The total number of notices filed so far this month: 274 for 1,370,000 oz.
Let us have a look at the data for today.
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In silver, the total open interest ROSE BY A LARGE 1,545 contracts UP to 212,192 YET STILL CLOSE AN ALL TIME NEW ALL TIME RECORD AS THE PRICE OF SILVER ROSE BY 32 CENTS WITH YESTERDAY’S TRADING. In ounces, the OI is still represented by just over 1 BILLION oz i.e. 1.060 BILLION TO BE EXACT or 151% 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 FELL 1051 contracts as the price of gold ROSE by $5.30 YESTERDAY. The total gold OI stands at 574,348 contracts.
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With respect to our two criminal funds, the GLD and the SLV:
GLD
we had no changes in GLD/
Total gold inventory rest tonight at: 972.62 tonnes
SLV
we had no changes in the SLV, / THE SLV/Inventory rests at: 351.765 million oz.
First, here is an outline of what will be discussed tonight:

This post was published at Harvey Organ Blog on August 11, 2016.