by Harvey Organ, HarveyOrgan.Blogspot.ca:
Good evening Ladies and Gentlemen:
Gold closed down by $2.00 to $1274.80 (comex closing time ). Silver rose by 4 cents to $19.53 (comex closing time)
In the access market at 5:00 pm, gold and silver finished trading at the following prices :
At the Comex, the open interest in silver fell by 710 contracts to 148,530 contracts reacting to silver’s fall in price yesterday. The silver OI is still holding firm at these highly elevated levels and within spitting distance of record level highs. As I mentioned to you yesterday, the bankers will try and do everything possible to remove as many longs from the silver arena as possible. The high OI in silver could only mean somebody with huge deep pockets is standing and of course quite impervious to the pain of huge losses (e.g. a sovereign like China)
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