by Harvey Organ, HarveyOrganblog:
Good evening Ladies and Gentlemen:
Gold: $1,235.60 up $15.70 (comex closing time)
Silver 15.23 UP ONLY 4 CENTS*
(*a huge clue that a raid on gold/silver coming tomorrow).
In the access market 5:15 pm
Let us have a look at the data for today.
On Thursday I told you that after China devalued their yuan on 4 consecutive day, the POBC was sending a strong message to the USA not to engage in any interest rate rise. Although three of the Fed governors were pounding the table that the USA needed to raise rates, it was obvious that if China devalued their yuan say by 20% to 8:1 (8 yuan/USA) to stay competitive, then everything would hit the wall: the Euro would collapse, the dollar skyrocket, then dollar scarcity, commodities collapse in price and then emerging market collapses together with their sovereign bonds. Today, Yellen got the message as she again goes extremely dovish. The USA can never raise rates again.
Today we saw gold advance $15.70 in regular hours and a further 7 dollars in the access market finishing at $1142.00. Although we lost considerable OI as we enter our next active month, it sure looks like the OI for tomorrow’s reading will advance. The silver price did not rise with gold which is their usual signal that a raid has been called for by our banker crooks. First day notice is on Thursday and that is the last day for LBMA and OTC gold options and the raids should end by Thursday night but for only a short time until they start with their criminal antics again. The game ends when they are carried out on a stretcher (when the East can no longer receive physical metal)
At the gold comex today, we had a good delivery day, registering 27 notices for 2700 ounces and for silver we had 61 notices for 305,000 oz for the active March delivery month.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 212.75 tonnes for a loss of 90 tonnes over that period.
In silver, the open interest ROSE by 1292 contracts UP to 171,872 DESPITE the fact that the silver price was unchanged with respect to yesterday’s trading . In ounces, the OI is still represented by .864 billion oz or 123% of annual global silver production (ex Russia ex China).
In silver we had 61 notices served upon for 305,000 oz.
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