Harvey Organ: Turkish Lira Plummets to Record Lows!
by Harvey Organ, Silver Doctors Good evening Ladies and Gentlemen: Here are the following closes for gold and silver today: Gold: $1195.90 down $4.70 (comex closing time) Silver: $16.13 unchanged (comex closing time) In the access market 5:15 pm Gold $1199.00 silver $16.22 Gold/silver trading: see market harts here: Following is a brief outline on gold and silver comex figures for today: The gold comex today had a poor delivery day, registering 0 notices served for nil oz. Silver comex registered 33 notices for 165,000 oz . Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 257.05 tonnes for a loss of 46 tonnes over that period. In silver, the open interest fell by only 501 contracts even though Wednesday’s silver price was down by 13 cents. The total silver OI continues still remains relatively high with today’s reading at 163,517 contracts. The front month of March contracted by 139 contracts. We had 33 notices served upon for 195,000 oz. In gold we had a fall in OI as gold was down by $3.40 yesterday. The total comex gold OI rests tonight at 403,134 for a loss of 1990 contracts. Today, surprisingly we again had 0 notices served upon for nil oz. Today, inventory stays at 760.80 tonnes/ i.e. no change for the gold inventory at the GLD In silver, /SLV we had no change in inventory at the SLV/Inventory 325.992 million oz We have a few important stories to bring to your attention today… 1. China reports on slower growth 2.Cornerstone Corporation pegs Chinese growth at less than 3% 3. In Japan 43% of tax revenues go straight to pay interest on debt. This is unsustainable. 4. The ECB raises Greece’s ELA by another .5 billion/up to 68.6 billion euros. 5. The 4th largest bank in the Ukraine goes bell up 6. Turkey’s lira plummets to record lows as their economy spins out of control 7. The USA shale industry reports its first bond default 8. Challenger and Christmas report a huge 19% increase in job cuts 9. Jobless numbers increase. 10. The ECB officially launches its QE as the euro plummet to 1.1020 we have these and other stories for you tonight. Let us now head over to the comex and assess trading over there today. Here are today’s comex results: The total gold comex open interest fell by 1990 contracts today from 405,124 down to 403,134 as gold was down by $3.40 yesterday (at the comex close). We are now in the contract month of March which saw it’s OI fall by 3 contracts falling to 150. We had 0 notices filed on yesterday so we lost 3 contracts or an additional 300 oz will not stand for delivery in March. The next big active delivery month is April and here the OI fell by 4,834 contracts down to 22,739. The estimated volume today (which is just comex sales during regular business hours of 8:20 until 1:30 pm est) was poor at 66,444. The confirmed volume yesterday ( which includes the volume during regular business hours + access market sales the previous day) was poor at 117,310 contracts even with mucho help from the HFT boys. Today we had 0 notices filed for nil oz. And now for the wild silver comex results. Silver OI fell by 501 contracts from 164,018 down to 163,517 with silver down by 13 cents with respect to Wednesday’s trading. We are now in the active contract month of March and here the OI fell by 139 contracts down to 997. We had 39 contracts served yesterday. Thus we lost 100 contracts or 500,000 oz will not stand. The estimated volume today was poor at 10,955 contracts (just comex sales during regular business hours. The confirmed volume yesterday (regular plus access market) came in at 29,068 contracts. We had 33 notices filed for 165,000 oz today. March initial standings Continue Reading>>>