The Phaserl


GLD holds firm/SLV holds firm/ Comex gold declines/ Gold and silver rise

by Harvey Organ,

Good evening Ladies and Gentlemen:

Gold closed up 13.40 dollars at $1238.40 (comex closing time ). Silver was up 8 cents at $20.18

In the access market tonight at 5:15 pm
gold: $1237.00
silver: $20.13

Gold and silver had another strong day as these metals seem to be taking on the bankers. Thursday and today saw a huge 30 tonnes of physical gold delivered into Shanghai as demand for the physical metal continues to play havoc to our bankers. The country of Turkey reported that in December it imported 31 tonnes of gold (almost 17% of global production on a monthly basis). For the 2013 year: 302 tonnes. The December importation of gold into Turkey was an increase of 64% from November. Turkey provides the gateway for Arab purchases of gold and it seems that the appetite for gold from countries like Saudi Arabia, the United Emirates and other Gulf States are increasing as the dollar is shunned.
Now let us see how the GOFO rates are behaving this morning:

Here are today’s readings with Tuesday’s comparison:

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