Gold:1340.30 UP $4.30
Silver 19.82 UP 15 cents
In the access market 5:15 pm
Gold: 1339.50
Silver: 19.84
For the August gold contract month, we had a small sized 44 notices served upon for 4400 ounces. The total number of notices filed so far for delivery: 12,824 for 1,282,400 oz or tonnes or 39.8880 tonnes. The total amount of gold standing for August is 43.7 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.
I would like to point out to you that we are coming up to the big event where the yuan is to be included in the SDR’s on September 30. The inclusion will dilute the use of the USA dollar and that is becoming quite problematic for our banking crooks.
I would also like to point out to you that the banking west is totally paying no attention to the higher Shanghai gold fix. China is now putting its foot down that it wants to set the price of gold namely because it is the real market for gold not the paper sham of the west. Our bankers, realizing the yuan inclusion is rapidly coming to fruition, is doing everything in their power to keep the paper game of gold alive and that is why they are whacking gold whenever they can and that is during the ‘paper gold time zones’ .e. past noon when London is put to bed and in the access market where it is strictly paper. However once 4 am rolls around (Shanghai physical fix) gold reaches its pinnacle.
Ladies and Gentlemen: the war is on for the supremacy of the gold market: China vs the USA
Let us have a look at the data for today.
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In silver, the total open interest FELL BY A LARGE 1,512 contracts DOWN to 206,816 AND MOVING AWAY FROM ITS AN ALL TIME RECORD AS THE PRICE OF SILVER FELL BY 31 CENTS WITH FRIDAY’S TRADING. In ounces, the OI is still represented by just over 1 BILLION oz i.e. 1.034 BILLION TO BE EXACT or 148% 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 1,892 contracts as the price of gold FELL by $6.70 FRIDAY. The total gold OI stands at 570,101 contracts.
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With respect to our two criminal funds, the GLD and the SLV:
GLD
we had a huge change in GLD/, a massive withdrawal of 12.17 tonnes
Total gold inventory rest tonight at: 960.45 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 15, 2016.
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