The Phaserl



by Harvey Organ, HarveyOrganblog:

Good evening Ladies and Gentlemen:

Here are the following closes for gold and silver today:

Gold:  $1166.60 down $1.00   (comex closing time)

Silver $15.82 up 12 cents.

In the access market 5:15 pm

Gold $1166.00

Silver:  $15.84

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

At the gold comex today,  we had a very good delivery day, registering 44 notices for 4400 ounces  Silver saw 15 notices for 75,000 oz.

Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 208.52 tonnes for a loss of 94 tonnes over that period.

In silver, the open interest fell by a smallish 1066 contracts even though silver was down by a considerable 21 cents yesterday. I guess in silver nobody of importance wants to leave the arena.  The total silver OI now rests at 166,508 contracts In ounces, the OI is still represented by .832 billion oz or 119% of annual global silver production (ex Russia ex China).

In silver we had 15 notices served upon for 75,000 oz.

In gold, the total comex gold OI fell to 464,357 for a loss of 3,435 contracts.  We had 44 notices filed for 4400 oz today.

We had no change in tonnage  at the GLD / thus the inventory rests tonight at 697.32 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 a small change in silver inventory, a deposit of 381,000 oz at the SLV  / Inventory rests at 315.553 million oz.

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