The Phaserl


Gold and silver whacked/ Gold inventories at GLD rise another 4.5 tonnes/SLV constant

by Harvey Organ,

Gold closed down $24.80 at $1311.20 (comex to comex closing time ). Silver was down 24 cents to $20.04

In the access market tonight at 5:15 pm
gold: $1309.00
silver: $19.97

Last night, I already knew that gold and silver would have a tough day today as the bankers whacked gold/silver late Sunday night our time. Actually on Friday, the bell-weather silver price being down on the day despite the rise in price of gold also foreshadowed today’s raid in our two precious metals. We are probably seeing the last remnants of physical supply coming from the criminal theft from the Ukraine. For the first time in 6 days, today we finally see an increase in negativity for the GOFO rates. As rates continue to go negative supply of London good delivery bars disappear.

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