The Phaserl



by Harvey Organ, HarveyOrganblog:

Good evening Ladies and Gentlemen:

Gold: $1073.90 down $13.60 (comex closing time)

Silver $13.74 down 40 cents

In the access market 5:15 pm

Gold $1078.30

Silver: $13,83

At the gold comex today, we had a poor delivery day, registering 9 notices for 900 ounces.Silver saw 0 notices for nil oz.

everal 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 1289 contracts down to 164,883. In ounces, the OI is still represented by .824 billion oz or 117% 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 by 3893 contracts to 401,458 contracts as gold was up $1.90 in yesterday’s trading.

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

We had no changes into inventory at the GLD / 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.

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