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Huge amount of gold standing on first day notice/Over 13.2 tonnes standing//Huge adjustment of 99,086 oz from JPMorgan customer account to the dealer account

by Harvey Organ, HarveyOrgan.Blogspot.ca:

Good evening Ladies and Gentlemen:

Gold closed down $8.40 cents to $1330.00 (comex closing time ). Silver was down 12 cents to $21.66

In the access market today at 5:15 pm tonight here are the final prices: gold: $1337.90, silver: $21.71

At the Comex, the open interest in silver fell by 1034 contracts to 113,382.

The open interest on the entire gold comex contracts rose by 5241 contracts to 372,903. The OI for first day notice in the October gold contract is 4247 and thus 424,700 oz of gold is the amount at first glimpse that will stand for delivery. This is 13.209 tonnes much higher than many had anticipated. Thirteen tonnes will certainly cause a huge hole inside the banker vaults.

Read More @ HarveyOrgan.Blogspot.ca

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1 comment to Huge amount of gold standing on first day notice/Over 13.2 tonnes standing//Huge adjustment of 99,086 oz from JPMorgan customer account to the dealer account

  • cdcrez

    Hello, I read Harvey Organ’s Gold and Silver Delivery Report and am hoping someone can explain something to me. His reports reads as follows:

    “Today we had 5 notices served upon our longs for 500 oz of gold.
    The October contract went off the board last night and thus we can finalize the amount of gold standing.

    Thus we have the following gold ounces standing for gold in October

    4393 notices x 100 oz per contracts totally served this month or 439,300 oz or 13.66 tonnes”

    It would seem this would mean that 439,300 ounces stand for delivery, or 439,300 ounces must be transferred from the registered category to the eligible category, but I do not see this transfer in his reporting or in the Comex’s reporting. Is my perception of what ‘standing’ means wrong, or when will the eligible and registered inventories reflect the ounces “delivered”?

    Thanks in advance.

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