by Harvey Organ, HarveyOrganblog:
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 242.33 tonnes for a loss of 61 tonnes over that period.
In silver, the open interest rose by 2,804 contracts even though Tuesday’s silver price was down by 12 cents. The total silver OI continues to remain extremely high with today’s reading at 191,774 contracts now at multi-year highs despite a record low price. In ounces, the OI is represented by 958 million oz or 136% of annual global silver production (ex Russia ex China). This dichotomy has been happening now for quite a while and defies logic. There is no doubt that the silver situation is scaring our bankers to no end as they continue to raid as basically they have no other alternative.
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