Gold:1322.90 UP $1.40
Silver 18.76 UP 11 cents
In the access market 5:15 pm
Gold: 1322.90
Silver: 18.83
For the August gold contract month, we had a good sized 45 notices served upon for 4500 ounces. The total number of notices filed so far for delivery: 14,145 for 1,414,500 oz or tonnes or 43.996 tonnes. The total amount of gold standing for August is 44.357 tonnes.
In silver we had 4 notices served upon for 20,000 oz. The total number of notices filed so far this month: 505 for 2,525,000 oz. The amount standing in silver: 2,530,000 oz
Gold will remain subdued until Wednesday afternoon when the OTC/LBMA options expiry over in London.
Let us have a look at the data for today.
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In silver, the total open interest FELL BY 8,110 contracts DOWN to 193,747. The open interest fell PRETTY HARD DESPITE THE FACT THAT THE SILVER PRICE WAS UP 17 CENTS IN FRIDAY’S TRADING . In ounces, the OI is still represented by just LESS THAN 1 BILLION oz i.e. .968 BILLION TO BE EXACT or 138% of annual global silver production (ex Russia &ex China).
In silver we had 4 notices served upon for 20,000 oz
In gold, the total comex gold ROSE 5975 contracts as the price of gold ROSE BY $1.80 yon Friday . The total gold OI stands at 560,430 contracts
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With respect to our two criminal funds, the GLD and the SLV:
GLD
we had no changes today at the GLD
Total gold inventory rest tonight at: 956.59 tonnes of gold
SLV
we had a small change at the SLV, a deposit of 950,000 oz / THE SLV Inventory rests at: 357.844 million oz.
First, here is an outline of what will be discussed tonight:
This post was published at Harvey Organ Blog on August 29, 2016.
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