Gold closed down $6.100 at $1237.40 (comex to comex closing time ). Silver was down 53 cents at $18.53
In the access market tonight at 5:15 pm
GLD : finally we had a slight withdrawal in gold to the tune of .32 tonnes of gold at the GLD (inventory now at 788.40 tonnes)
SLV : today we had no change in silver inventory at the SLV/inventory rests at 334.646
As far as gold and silver is concerned, we had another raid today right after both London first and second fixing of gold. It seems they are relentless in their attacks. Strangely for the third straight day, gold and silver jumped in the access market as soon as the comex closed.
Today we have commentaries concerning the sanctions placed on Russia and their retaliation. The separatists reached the Sea of Azov and its major port Mariupol. If they conquer Mariupol then Russia could have a land bridge between its territories and the Crimea.
We will discuss these and other stories
So without further ado………………
Let’s head immediately to see the data has in store for us today.
First: GOFO rates/
All months basically moved towards the positive needle as they must have found a few bars to lease. On the 22nd of September the LBMA will not publish GOFO rates. ( I guess the manipulation is getting to them)
London good delivery bars are still quite scarce.
Sept 11 2014
1 Month Rate: 2 Month Rate 3 Month Rate 6 month rate 1 yr rate
.11000% .1180000% .12800% .14600% .24000%
Sept 10 .2014:
1 Month Rate 2 Month Rate 3 Month Rate 6 month Rate 1 yr rate
1100% .118000% .128000% .14600% .24000%
Let us now head over to the comex and assess trading over there today,
This post was published at Harvey Organ on September 11, 2014.