Harvey Organ: Monstrous Increase in Gold Open Interest!

by Harvey Organ, Silver Doctors In gold we had a monstrous increase in OI with the rise in price of gold yesterday to the tune of $15.40. The total comex gold OI rests tonight at 394,021 for a gain of 15,536 contracts. The January gold contract reads 133 contracts. The bankers were not afraid to supply the non backed gold comex paper. Here are the following closes for gold and silver today: Gold: $1210.60 down $8.70 (comex closing time) Silver: $16.51 down 9 cents (comex closing time) In the access market 5:15 pm Gold $1211.50 silver $16.53 The gold comex today had a poor delivery day, registering 6 notices served for 600 oz. Silver comex registered 76 notices for 380,000 oz. Three months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 247.23 tonnes for a loss of 56 tonnes over that period. In silver, the open interest rose by 1597 contracts as yesterday’s silver price rose by 42 cents. The total silver OI continues to remains relatively high with today’s reading at 152,879 contracts. However the bankers are loathe to supply much of the non backed silver paper.The January silver OI contract reads 91 contracts, the same as yesterday. In gold we had a monstrous increase in OI with the rise in price of gold yesterday to the tune of $15.40. The total comex gold OI rests tonight at 394,021 for a gain of 15,536 contracts. The January gold contract reads 133 contracts. The bankers were not afraid to supply the non backed gold comex paper. TRADING OF GOLD AND SILVER TODAY you have more important things to read instead of how gold/silver traded today. Today, we lost 2.99 tonnes of gold/Inventory 704.83 tonnes In silver,we lost 958,000 oz in silver inventory/ SLV’s inventory rests tonight at 328.457 million oz. We have a few important stories to bring to your attention today… Let’s head immediately to see the major data points for today. First: GOFO rates: All rates moved in the positive direction. Only the one month GOFO rate remains in backwardation. Sometime in January the LBMA will officially stop providing the GOFO rates Continue Reading>>>

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