The Phaserl



by Harvey Organ, HarveyOrganblog:

Good evening Ladies and Gentlemen:

Here are the following closes for gold and silver today:

Gold: $1153.80 up $22.20 (comex closing time)

Silver $15.13 up 35 cents.

In the access market 5:15 pm

Gold $1154.00

Silver: $15.13

First, here is an outline of what will be discussed tonight:

At the gold comex today we had a poor delivery day, registering 0 notices for nil ounces Silver saw 9 notices for 45000 oz.

Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 213.27 tonnes for a loss of 90 tonnes over that period.

In silver, the open interest fell by 298 contracts despite the fact that silver was up in price by 3 cents yesterday. The total silver OI now rests at 151,842 contracts In ounces, the OI is still represented by .759 billion oz or 108% of annual global silver production (ex Russia ex China).

In silver we had 9 notices served upon for 45,000 oz.

In gold, the total comex gold OI fell to 417,564 for a loss of 1740 contracts. We had 0 notices filed for nil oz today.

We had no change in tonnage at the GLD; thus the inventory rests tonight at 674.61 tonnes. The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold. It sure looks like 670 tonnes will be the rock bottom inventory in GLD gold. It looks to me that China has taken the last amounts of physical gold from the GLD. I guess the only place left for China to receive physical gold will be the FRBNY and the comex. In silver, we had no change in silver inventory at the SLV/Inventory rests at 319.197 million oz.

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