HUGE SPREAD IN GOLD BETWEEN SHANGHAI GOLD FIX AND NY PRICING/LOOKS LIKE ANOTHER CHINESE BOND FAILURE
from Harvey Organ:
In silver, the total open interest FELL by 114 contracts DOWN to 160,299 with respect to YESTERDAY’S TRADING. In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. .801 BILLION TO BE EXACT or 114% of annual global silver production (ex Russia & ex China).
FOR THE DECEMBER FRONT MONTH: 0 NOTICES FILED FOR nil OZ.
In gold, the total comex gold FELL BY 1,050 contracts DESPITE THE FACT THAT WE HAD A RISE IN THE PRICE GOLD ($5.20 with YESTERDAY’S trading ).The total gold OI stands at 400,742 contracts. We are very close to the bottom with respect to OI. Generally 390,000 should do it.
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