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October 2/no change in silver inventory at the SLV./ another drop of 1.19 tonnes from the GLD/ gold and silver rise/Updates on Ebola in the USA

by Harvey Organ, HarveyOrgan.Blogspot.ca:

Gold closed down $0.40 at $1214.20 (comex to comex closing time ). Silver was down 21 cents at $17.00

In the access market tonight at 5:15 pm
gold: $1214.50
silver: $17.13

GLD : we lost 1.19 tonnes of gold inventory at the GLD (inventory now at 767.47 tonnes)

SLV : as of 6 pm tonight we have no change in inventory. However we have Fred checking throughout the evening to see if these guys update their data.

Read More @ HarveyOrgan.Blogspot.ca

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1 comment to October 2/no change in silver inventory at the SLV./ another drop of 1.19 tonnes from the GLD/ gold and silver rise/Updates on Ebola in the USA

  • Frank Zak

    Amplats has a mine that produces platinum for zero dollars.

    http://www.miningweekly.com/article/amplats-shows-off-planets-lowest-cost-platinum-mine-2014-10-02

    75% of silver is produced as a byproduct of copper, lead, zinc, etc.
    David Morgan “forgot” to tell you this. The cost is $11 an oz. That’s a fact.

    But, it may be close to zero in actuallity. Because the copper lead zinc sales
    pay all the expenses. Silver must be removed as a byproduct even if it
    was woth zero.

    So, even $11 is an allocated all in cost for silver, which may be close
    to zero. The real cost is fabrication into bars and coins. So, lets say
    $3 an oz.

    Silver production has increased 200 million oz per year in the last 10 years.
    It will always increase as long as copper, etc., increase.

    On the other had primary silver miners may actually have a real cost of
    $20 an oz.

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