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GOLD UP $3.80 AND SILVER IS UP 2 CENTS/A MASSIVE 6.81 TONNES OF GOLD LEAVES THE GLD DESPITE GOLD RISING THESE PAST FEW DAYS

SLV INVENTORY GAINS 1.232 MILLION OZ/OPEN INTEREST ON THE GOLD AND SILVER COMEX HARDLY BUDGE WITH THE RISE IN PRICE ON FRIDAY/NORTH KOREA IS ONE STEP CLOSER TO A ICBM

from Harvey Organ:

CHINA TRIES TO SAVE FACE WITH RESPECT TO THE MEETING OF REX TILLERSON AND XI/ USA TRIES TO ENCOURAGE THE IMF TO WALK AWAY FROM GREECE/DEUTSCHE BANK STOCK PLUMMETS WITH A HUGE DILUTION OF 35%/ DB GUIDES LOWER/THE EU HAS A NEW PLAN TO SAVE ITALIAN BANKS: A EUROPE WIDE BAD BANK/UK TO TRIGGER ARTICLE 50 ON MARCH 29

In silver, the total open interest SURPRISINGLY FELL BY 467 contracts DOWN to 186,523 despite the RISE IN PRICE ( 9 CENTS) WITH RESPECT TO FRIDAY’S TRADING. In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. 0.931 BILLION TO BE EXACT or 133% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MARCH MONTH: THEY FILED: 0 NOTICE(S) FOR NIL OZ OF SILVER

In gold, the total comex gold also ROSE BY 3,573 contracts WITH THE RISE IN THE PRICE OF GOLD ($3.30 with FRIDAY’S TRADING). The total gold OI stands at 431,292 contracts.

Read More @ Harveyorganblog.com

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1 comment to GOLD UP $3.80 AND SILVER IS UP 2 CENTS/A MASSIVE 6.81 TONNES OF GOLD LEAVES THE GLD DESPITE GOLD RISING THESE PAST FEW DAYS

  • Geo

    “A MASSIVE 6.81 TONNES OF GOLD LEAVES THE GLD DESPITE GOLD RISING THESE PAST FEW DAYS”

    Harvey, I’ve seen you make these claims plenty of times but I still have not seen any verifiable evidence to support any of these claims. How reliable are GLD’s holding reports? GLD does not give retail investors the right to redeem for any of its mystery physical gold holdings. This fact alone ensures the GLD shares to be nothing more than paper at the end of the day. GLD also has a glaring audit loophole in their prospectus that states they have no right to audit subcustodial gold holdings. To this day, I have not heard of a single good reason for the existence of this backdoor to the fund. Some other red flags I’ve stumbled upon, verified and welcome everyone else to verify for themselves:

    “Did anyone try calling the GLD hotline at 866▪320▪4053 in search of numerical details on GLD’s insurance? The prospectus vaguely states “The Custodian maintains insurance with regard to its business on such terms and conditions as it considers appropriate which does not cover the full amount of gold held in custody.” When I asked about how much of the gold was insured, the representative proceeded to act as if he didn’t know and said they were just the “marketing agent” for GLD. What kind of marketing agent would not know such basic information about a product they are marketing? It seems like they are deliberately hiding information from investors.”

    “I remember there was a highly publicized visit by CNBC’s Bob Pisani to GLD’s gold vault. This visit was organized by GLD’s management to prove the existence of GLD’s gold but the gold bar held up by Mr. Pisani had the serial number ZJ6752 which did not appear on the most recent bar list at that time. It was later discovered that this “GLD” bar was actually owned by ETF Securities.”

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