Harvey Organ: Chinese QE Rocket Propells Gold & Silver!
by Harvey Organ, Silver Doctors Good evening Ladies and Gentlemen: Here are the following closes for gold and silver today: Gold: $1203.30 up $28.10 (comex closing time) Silver: $16.39 up 76 cents (comex closing time) In the access market 5:15 pm Gold $1202.00 Silver: $16.39 Today is options expiry on the comex. On Thursday we will have options expiry on the LBMA in London and on the OTC market as well. Today was a welcomed change from our bankers normal behaviour of whacking silver and gold during options expiry week. However we still have 3 more days before first day notice. Following is a brief outline on gold and silver comex figures for today: At the gold comex today, we had a good delivery day, registering 25 notices served for 2500 oz. Silver comex filed with 0 notices for nil oz. Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 241.13 tonnes for a loss of 62 tonnes over that period. Lately the removals have been rising! end In silver, the open interest rose by another 1886 contracts despite the fact that Friday’s silver price was down by 19 cents. The total silver OI continues to remain extremely high with today’s reading at 188,004 contracts rising to multi-year record highs. The front April month has an OI of 22 contracts for a loss of 0 contracts. We are now at multi year high in the total OI complex despite a record low price. This dichotomy has been happening now for quite a while and defies logic. There is no doubt that the silver situation is scaring our bankers to no end. The COT report on Friday in silver showed the commercials going long in silver in a big way and the large specs going short. Is a short squeeze coming? In silver had 0 notices served upon for nil oz. In gold, the total comex gold OI rests tonight at 418,813 for a gain of 13,249 contracts despite the fact that gold was up by $18.90 on Friday. We had 25 notices served upon for 2500 oz. Continue Reading>>>