The Phaserl



by Harvey Organ, HarveyOrganblog:

Good evening Ladies and Gentlemen:

Gold: $1,222.50 down $5.90 (comex closing time)

Silver 15.05 down 7 cents

In the access market 5:15 pm

Gold $1223.00

silver: 15.06

Let us have a look at the data for today.

At the gold comex today, we had a good delivery day, registering 142 notices for 14,200 ounces for gold,and for silver we had 0 notices for nil oz for the non active April delivery month.

Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 212.603 tonnes for a loss of 90 tonnes over that period.

In silver, the open interest ROSE by 2065 contracts UP to 179,913 as the silver price was UP 18 cents with respect to yesterday’s trading. In ounces, the OI is still represented by .899 billion oz or 128% 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 3,252 contracts up to 474,094 contracts as the price of gold was UP $10.40 with yesterday’s trading.(at comex closing).

We had another change in the GLD, a withdrawal of 0.29 tonnes / thus the inventory rests tonight at 815.43 tonnes and the withdrawal was no doubt for fees to the custodian and insurance. 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, and thus the Inventory rests at 334.724 million oz.

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