Gold:1324.40 down $16.20
Silver 18.55 down 36 cents
In the access market 5:15 pm
For the August gold contract month, we had a huge sized 499 notices served upon for 49,900 ounces. The total number of notices filed so far for delivery: 13,886 for 1,388,600 oz or tonnes or 43.191 tonnes. The total amount of gold standing for August is 43.788 tonnes.
In silver we had 10 notices served upon for 50000 oz. The total number of notices filed so far this month: 490 for 2,400,000 oz.
I wrote the following yesterday:
‘We now enter in earnest the options expiry for gold and silver. The comex options expiry is: Friday, August 26.
Options expiry for the OTC /London’s LBMA contracts expire at noon August 31.
Today we witnessed gold and silver rise yet gold/silver equity shares falter. Generally this is a good sign that the crooks are orchestrating another raid in the next 24 hours. The silver situation is no doubt bothering them immensely.’
Our friendly bankers did not disappoint us today as they raided gold and silver pretty bad and also caused a huge waterfall in gold/silver equity shares.
The crime scene was simple: It was down in basically a few minutes:
from Dave Kranzler…
‘You need look no further than today’s gold fiasco to see what Rick Santelli is referring to. Clearly today was preordained to be prime time Crimex time and the cartel didn’t disappoint. Right out of the Crimex gate a whopping 10,426 Dec. contracts were sold in a millisecond. Those 32 tons of fictitious gold dropped the price $10. Like clockwork another 4,758 contracts (14.87 tons) were sold at 9:04 AM, and a 3rd hit occurred at 10:11 AM, with an additional 4,192 contracts sold. In just those 3 minutes exactly 60 tons of paper gold were sold- another ‘curiosity’ no MSM reporter is interested in exploring.’
Let us have a look at the data for today.
In silver, the total open interest ROSE BY 1219 contracts UP to 206,264. THE OPEN INTEREST IN THE FRONT MONTH OF SILVER ROSE CONSIDERABLY DESPITE THE FACT THAT THE SILVER PRICE WAS UP A TINY 7 CENTS IN YESTERDAY’S TRADING . In ounces, the OI is still represented by just over 1 BILLION oz i.e. 1.031 BILLION TO BE EXACT or 147% of annual global silver production (ex Russia &ex China).
In silver we had 10 notices served upon for 50,000 oz
In gold, the total comex gold ROSE 128 contracts as the price of gold ADVANCED BY $2.90 yesterday . The total gold OI stands at 572,973 contracts.
With respect to our two criminal funds, the GLD and the SLV:
we had no changse today at the GLD/
Total gold inventory rest tonight at: 958.37 tonnes of gold
we had no changes in the SLV, / THE SLV Inventory rests at: 358.793 million oz
First, here is an outline of what will be discussed tonight:
This post was published at Harvey Organ Blog on August 24, 2016.