The Phaserl



by Harvey Organ, HarveyOrganblog:

Good evening Ladies and Gentlemen:

Gold: $1,295.30 up $5.90 (comex closing time)

Silver 17.66 down 13 cents

In the access market 5:15 pm

Gold $1291.25

silver: 17.53

Let us have a look at the data for today.

At the gold comex today we had a poor delivery day, registering 1 notice for 100 ounces for gold,and for silver we had 270 notices for 1,350,000 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 225.51 tonnes for a loss of 77 tonnes over that period.

In silver, the open interest fell by a rather large 2507 contracts down to 201,170 despite the fact that the price was silver was way up to the tune of 26 cents with respect to Friday’s trading. In ounces, the OI is still represented by ust over 1 BILLLION oz i.e. 1.005 BILLION TO BE EXACT or 143% of annual global silver production (exRussia &ex China) We are now within spitting distance of all time highs for OI with respect to silver

In silver we had 270 notices served upon for 1,350,000 oz.

In gold, the total comex gold OI ROSE by a gigantic 24,106 contracts, UP to 549,520 contracts AS the price of gold was UP $23.60 with FRIDAY’S TRADING(at comex closing).

We had a gigantic deposit in tonnes of gold inventory at the GLD to the tune of 20.80 tonnes, thus the inventory rests tonight at 824.94 tonnes. This is an absolute fraud as there is noway these guys can locate 20 tonnes of gold in 24 hrs.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’s SLV,we had no change in silver inventory. Thus the inventory rests at 335.580 million oz.

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