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DOW DROPS 364 POINTS/NASDAQ DROPS 160 POINTS

by Harvey Organ, HarveyOrganblog:

Good evening Ladies and Gentlemen:

Gold: $1087.50 up $1.90 (comex closing time)

Silver $14.14 up 44 cents

In the access market 5:15 pm

Gold $1093.50

Silver: $14.16

At the gold comex today, we had a poor delivery day, registering 0 notices for nil 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 199.63 tonnes for a loss of 103 tonnes over that period.

In silver, the open interest fell by 268 contracts down to 166,172. In ounces, the OI is still represented by .831 billion oz or 118% 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 fell by another monstrous 9979 contracts to 397,565 contracts as gold was down $11.60 in yesterday’s trading.

Today both the gold comex and the silver comex are in severe stress.

We had another addition into inventory at the GLD ( a deposit of 2.38 tonnes, / thus the inventory rests tonight at 654.06 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 changes to inventory/Inventory rests at 316.368 million oz.

Read More @ HarveyOrganblog.com

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1 comment to DOW DROPS 364 POINTS/NASDAQ DROPS 160 POINTS

  • Randy

    What I find really funny, in both odd and humorous meanings of the word funny, is that ANYONE is willing at this stage of the collapse of the world wide fiat paper currency financial system scam, to still give up any kind of PM for it!! Once the PM have left their hands and they have either electronic bookkeeping entries which are evaporating at a high rate of speed or some fiat paper, what will they do when no one accepts those failed mediums of exchange or the banks are all closed down due to no electricity?

    Randy

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