by Harvey Organ, HarveyOrganblog:
Good evening Ladies and Gentlemen:
Here are the following closes for gold and silver today:
Gold: $1115.50 down $11.60 (comex closing time)
Silver $14.51 down 5 cents.
In the access market 5:15 pm
I wrote the following last Thursday:
“On the 24th of September, the comex options expired but we still have the LBMA options as well as the OTC options. Expect gold and silver to be relatively subdued until Oct 1.2015.”
still holds true today! Tomorrow the curse of the bankers will be off until next month’s expiry options.
First, here is an outline of what will be discussed tonight:
At the gold comex today, on first day notice we had a good delivery day, registering 121 notices for 12,100 ounces Silver saw 11 notices for 55,000 oz.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 213.14 tonnes for a loss of 90 tonnes over that period.
In silver, the open interest fell by 620 contracts despite the fact that silver was up in price by 3 cents yesterday. The total silver OI now rests at 156,905 contracts In ounces, the OI is still represented by .784 billion oz or 113% of annual global silver production (ex Russia ex China).
In silver we had 93 notices served upon for 465,000 oz.
In gold, the total comex gold OI fell to 415,700 for a loss of 2070 contracts. This is par for the course as we always see a contraction as we approach an active delivery month. We had 121 notices filed for 12,100 oz today.
We had no changes in tonnage at the GLD; thus the inventory rests tonight at 684.14 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 changes in silver inventory at the SLV to the tune of 859,000 oz/Inventory rests at 317.384 million oz.
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