by Harvey Organ, HarveyOrganblog:
Good evening Ladies and Gentlemen:
Here are the following closes for gold and silver today:
Gold: $1163.30 down $3.30 (comex closing time)
Silver $15.82 unchanged.
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 good delivery day, registering 45 notices for 4500 ounces Silver saw 0 notices for nil 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 roe by 813 contracts as silver was up by 12 cents yesterday. The total silver OI now rests at 167,321 contracts In ounces, the OI is still represented by .836 billion oz or 120% of annual global silver production (ex Russia ex China).
In silver we had 0 notices served upon for nil oz.
In gold, the total comex gold OI rose to 467,776 for a gain of 3,419 contracts. We had 45 notices filed for 4500 oz today.
We had a rather large withdrawal of 1.78 tonnes of gold at the GLD / thus the inventory rests tonight at 695.54 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,no change in silver inventory / Inventory rests at 315.553 million oz.
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