by Harvey Organ, HarveyOrganblog:
Good evening Ladies and Gentlemen:
Gold: $1065.89 up $9.60 (comex closing time)
Silver $14.05 up 4 cents
In the access market 5:15 pm
At the gold comex today, we had an extremely surprisingly low delivery day, registering 2 notices for 20 ounces. Silver saw 2746 notices for 13,730,000 oz.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 198.37 tonnes for a loss of 105 tonnes over that period.
In silver, the open interest fell by 1673 contracts as silver was down 16 cents in Friday’s trading. Generally we are witnessing a massive OI contraction once we approach first day notice. The total silver OI now rests at 164,564 contracts In ounces, the OI is still represented by .822 billion oz or 117% of annual global silver production (ex Russia ex China).
In silver we had 2746 notices served upon for 13,730,000 oz.
In gold, the total comex gold OI rose by 3685 contracts as the OI rose to 396,795 contracts. Gold was down by $13.80 with respect to Friday’s trading.
We had no change in gold inventory at the GLD/ thus the inventory rests tonight at 654.80 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. Our 670 tonnes of rock bottom inventory in GLD gold has been broken. 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, after they deplete the GLD will be the FRBNY and the comex. In silver, we had no change in silver inventory, / Inventory rests at 318.209 million oz.
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