by Harvey Organ, HarveyOrganblog:
Good evening Ladies and Gentlemen:
Here are the following closes for gold and silver today:
Gold: $1138.10 up $1.00 (comex closing time)
Silver $15.70 up 44 cents.
In the access market 5:15 pm
First, here is an outline of what will be discussed tonight:
At the gold comex today, we had a very poor delivery day, registering 0 notices for nil ounces Silver saw 2 notices for 10,000 oz.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 212.94 tonnes for a loss of 90 tonnes over that period.
In silver, the open interest rose by 145 contracts despite the fact that silver was up 76 cents on Friday. The total silver OI now rests at 158,051 contracts In ounces, the OI is still represented by .790 billion oz or 113% of annual global silver production (ex Russia ex China).
In silver we had 2 notices served upon for 10,000 oz.
In gold, the total comex gold OI rose to 421,506 for a gain of 2490 contracts. We had 0 notices filed for nil oz today.
We had a small withdrawal in tonnage at the GLD to the tune of 0.22 tonnes and this would probably be to pay for storage and insurance fees; thus the inventory rests tonight at 688.98 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 withdrawal in silver inventory at the SLV to the tune of 134,000 oz/ Inventory rests at 318.395 million oz.
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