The Phaserl


Japanese Nikkei halted last night/Gigantic 5.648 million oz leaves SLV

by Harvey Organ,

Gold closed up $15.40 to $1392.00 (comex closing time). Silver rose by 3 cents to $22.49 (comex closing time)

In the access market at 6:30 pm, gold and silver are trading at the following prices :

Gold was on the defensive early last night until the halting of the Nikkei exchange. Then all of the bourses were massively in the red and only gold stood out. By the time the comex opened, gold was trading around $1390.00. The bankers refused to quit as they knocked gold down again but the physical buying was just too great as gold closed near its highs at $1392.00. Silver was a little more subdued closing up only 3 cents on the day.

At the Comex, the open interest in silver fell by 1,308 contracts to 147,311 contracts with silver’s rise in price yesterday by 3 cents. The silver OI is holding firm at elevated levels . The open interest on the gold contract rose by 5,242 contracts to 451,335 . The gold deliveries for May rose a bit today to 9.45 tonnes and this is an off month for gold. The number of silver ounces, standing for delivery in May lowered a bit standing at 17.210 million oz. ( On first day notice: 14.860 million oz.)

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