OVER 25 TONNES OF GOLD REPATRIATED TO GERMANY FROM THE FRBNY
Gold $1254.00 up $1.50
Silver 17.47 up 5 cents
In the access market 5:15 pm
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 11 (10:15 pm est last night): $ 1262.18
NY ACCESS PRICE: $1259.00 (AT THE EXACT SAME TIME)
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ 1263.11
NY ACCESS PRICE: 1257.00 (AT THE EXACT SAME TIME)
HUGE SPREAD TODAY!!
London Fix: OCT 11: 5:30 am est: $1256.40 (NY: same time: $1256.40: 5:30AM)
London Second fix OCT 11: 10 am est: $1253.45 (NY same time: $1254.10 , 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:
3 NOTICES FILED FOR 300 OZ
for the Oct contract month: 0 notices for NIL oz.
Let us head over to the comex:
The total gold comex open interest ROSE BY 2,122 CONTRACTS to an OI level of 505,845 the as price of gold fell by $0.50 with FRIDAY’S trading.
We are in the delivery month is October and here the OI LOST 3 contracts DOWN to 298. We had 3 notices filed on Friday so we NEITHER GAINED NOR LOST ANY GOLD OUNCES STANDING.
The next delivery month is November and here the OI ROSE by 47 contracts up to 3025 contracts. The next contract month and the biggest of the year is December and here this month showed an decrease of 56 contracts down to 385,974.
Today we had 3 notices filed for 300 oz of gold.
And now for the wild silver comex results. Total silver OI FELL BY 685 contracts from 189,468 DOWN TO 188,783 as the price of silver rose to the tune of 11 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 rose by 1 contracts up to 112. We had 4 notices filed on FRIDAY so we gained 5 contracts or 25,000 additional oz will stand for delivery.The November contract month saw its OI FELL by 9 contracts DOWN to 344. The next major delivery month is December and here it FELL BY 1717 contracts DOWN to 155,211.