by Harvey Organ, HarveyOrganblog:
Good evening Ladies and Gentlemen:
Here are the following closes for gold and silver today:
Gold: $1165.80 up 0.90 (comex closing time)
Silver $15.90 up 4 cents.
In the access market 5:15 pm
Let us head over to the comex:
For the past two years, we have strangely witnessed two interesting developments with respect to the gold open interest: 1) total gold comex collapse in OI as we enter an active delivery month, and 2) a continual drop in the amount of gold standing in an active month, and today the latter of these developments continued but a slower pace. The new active delivery month we enter is October and here the OI fell by 34 contracts down to 1268. We had 1 notice filed yesterday so we lost 33 contracts or 3300 additional oz will not stand for delivery. The November contract went down by 33 contracts down to 212. The big December contract saw it’s OI fall by 1078 contracts from 296,249 down to 295,171. The estimated volume on today (which is just comex sales during regular business hours of 8:20 until 1:30 pm est) was 140,250 which is poor. The confirmed volume on yesterday (which includes the volume during regular business hours + access market sales the previous day was poor at 116,361 contracts.
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