Let’s Head Over to the CRIMEX
Gold $1262.10 down $3.00
Silver 17.55 down 55 cents
THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON.
The Shanghai fix is at 10:15 pm est and 2:15 am est
The fix for London is at 5:30 am est (first fix) and 10 am est (second fix)
Thus Shanghai’s second fix corresponds to 195 minutes before London’s first fix.
And now the fix recordings:
Shanghai morning fix Oct 3 (10:15 pm est last night): $ holiday
NY ACCESS PRICE: $
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ holiday
NY ACCESS PRICE:
London Fix: Sept 30: 5:30 am est: $1309.15 (NY: same time: $: 5:30AM)
London Second fix Sept 30: 10 am est: $1283.30 (NY same time: $xxx , 10 AM)
It seems that Shanghai pricing is higher than the other two , (NY and London). The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price. This should drain the comex.
Also why would mining companies hand in their gold to the comex and receive constantly lower prices. They would be open to lawsuits if they knowingly continue to supply the comex despite the fact that they could be receiving higher prices in Shanghai.
For comex gold:
the total number of notices filed today : 1338 for 133,800 oz (4.16 tonnes)
for the Oct contract month: 27 notices for 135,000 oz.
today was nothing but criminal activity with a massive drive by shooting. This is occurring because the regulators are on the side of the bankers. China is back tonight and will bring the price of gold/silver back to normal.
Let us have a look at the data for today.
In silver, the total open interest fell by 3236 contracts down to 198,747. The open interest fell as the silver price was down 65 cents in yesterday’s trading .In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. .9935 BILLION TO BE EXACT or 141% of annual global silver production (ex Russia &ex China).
In silver for October we had 27 notices served upon for 135,000 oz
In gold, the total comex gold FELL by 10,523 contracts as the price of gold fell by $65.00 yesterday . The total gold OI stands at 544,824 contracts. The bankers have done a great job fleecing longs and as usual the entire gold comex OI obliterates
With respect to our two criminal funds, the GLD and the SLV:
LAST NIGHT WE HAD NO CHANGES OUT OF THE GLD//
Total gold inventory rests tonight at: 949.14 tonnes of gold
we had no changes at the SLV
THE SLV Inventory rests at: 362.909 million oz
Let us head over to the comex:
The total gold comex open interest FELL BY 10,523 CONTRACTS to an OI level of 544,824 the as price of gold fell by $65.30 with yesterday’s trading.
The contract month of Sept is now off the board. The next delivery month is October and here the OI gained 392 contracts up to 1687. We had 758 notices filed on yesterday so we gained 1150 contracts or 115,000 oz will stand \
The next delivery month is November and here the OI rose by 747 contracts up to 2985 contracts. The next contract month and the biggest of the year is December and here this month showed an decrease of 11,360 contracts down to 422,771.
Today we had 758 notices filed for 75,800 oz of gold.(2.3tonnes)
And now for the wild silver comex results. Total silver OI FELL BY 3,230 contracts from 201,977 down to 198,747 as the price of silver fell to the tune of 65 cents yesterday. We are moving further from the all time record high for silver open interest set on Wednesday August 3: (224,540). The next non active delivery month is October and here the OI fell by 99 contracts down to 97. We had 1 notice filed on yesterday so we lost 98 contracts or 490,000 additional oz will not stand for delivery.The November contract month saw its OI fall by 41 contracts down to 359. The next major delivery month is December and here it FELL BY 3684 contracts DOWN to 166,861.
today we had 27 notices filed for silver: 135,000 oz