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AMOUNT STANDING FOR GOLD STILL AN EXTREMELY HIGH 41.517 TONNES/OPEN INTEREST FOR SEPT GOLD ALSO EXTREMELY HIGH

from Harvey Organ:

GOLD AND SILVER RISE/JAPANESE BOND YIELDS RISE (PRICES FALL) SENDING GLOBAL BOND PRICES FALTERING/MOST EUROPEAN BANK STOCKS CRASHED TODAY/OIL BREAKS THE 40 DOLLAR BARRIER ON THE DOWNSIDE/AETNA INSURANCE LOSES 300 MILLION ON OBAMACARE AND WILL PROBABLY EXIT IN NOVEMBER

For the August gold contract month, we had a HUGE 2096 notices served upon for 209,600 ounces. The total number of notices filed so far for delivery: 8925 for 892,500 oz or tonnes or 27.760 tonnes

In silver we had 120 notices served upon for 600,000 oz. The total number of notices filed so far this month: 121 for 605,000 oz.

Read More @ Harveyorganblog.com

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5 comments to AMOUNT STANDING FOR GOLD STILL AN EXTREMELY HIGH 41.517 TONNES/OPEN INTEREST FOR SEPT GOLD ALSO EXTREMELY HIGH

  • Craig Escaped Detroit

    Like some other commentator said, “it matters NOT how many contracts/ounces are standing for delivery if they eventually SETTLE for FIAT.”

    We want to know how many PHYSICAL OUNCES/TONS actually get DELIVERED out of the COMEX.

    Standing or STACKING are 2 different animals.

    We’d like to know how many contracts end up STACKING real metal instead of stacking FRN’s.

    • Craig Escaped Detroit

      @Krell,
      Thanks for the link. I see that it says (typically in general) that there is ONE contract actually DELIVERED for every 2500 contracts in the system.

      The helpful & interesting “info-graphic” does NOT mention the percentage of “Standing for delivery” that actually gets delivered. It’s all just “generatlities” (but done very nicely and does give a lot of helpful information.)

      Looking at the Harvey Organ report, (it hurts my head), I do not see numbers for “actual physical delivery” for the month, or for ANY month.

      COMEX (CRIMEX) annually trades 41X the world’s gold mining output. That’s a very big “Syndicate”.

      So, according to the numbers that Harvey has dug up, there are about 41 tons “Standing for delivery” (on paper at this point), but when everything is said and done, I wonder how many of those 41 tons will actually be TRUCKED away and LEAVE the COMEX forever?

      4 tons? Zero tons? Will we EVER really know?

      In the end, I know it really doesn’t matter, because it’s falling apart and the FRN’s will be gone and only the PM’s we hold in our hands will matter.

      Keep Stacking.

  • Millicent

    http://usawatchdog.com/manipulation-of-gold-and-silver-definitely-ends-this-year-harvey-organ/

    Manipulation of Gold and Silver Definitely Ends This Year-Harvey Organ
    By Greg Hunter On September 10, 2014 In Market Analysis 318 Comments

    Harvey Organ has been on a personal mission to expose the “fraudulent manipulation” of the gold and silver markets since the late 1990’s. Organ, who studies these markets daily, contends, “It’s definitely going to happen this year.” Why does Organ think this? Let’s start with the gold market. Organ says, “You are seeing a huge amount of obligations per one ounce of gold that’s available, and as the gold moves from West to East, and the bubble of paper obligations that’s left are going to blow up. So, that is what we are basically seeing in gold. There is a massive movement basically towards three countries . . . Russia . . . China . . . and India. So, if you figure the world produces no more than 2,200 tons of gold per year, excluding China and Russia, more than 100% of that gold is going to those countries.” Organ goes on to say, “I doubt very much if the United States has one ounce of gold left.”

    This guy is still promoted as being some sort of PM “expert”…

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