Harvey Organ: Decision Friday on the Greek Crisis?
by Harvey Organ, Silver Doctors Submitted by Harvey Organ: Good evening Ladies and Gentlemen: Here are the following closes for gold and silver today: Gold: $1207.10 up $7.40 (comex closing time) Silver: $16.37 up 12 cents (comex closing time) In the access market 5:15 pm Gold $1207.00 silver $16.37 Today, we have seen a lot of important stories on three fronts to report to you!! i) The Greek crisis ii) the failed Ukrainian ceasefire. iii) global economy sinking (Baltic Dry Index and Caterpillar results We will have to wait until tomorrow to see if there is any cracks in the EU armour with respect to the Greek crisis. The rebels are marching toward Mariupol. And now for gold/silver trading today. Gold/silver trading: see kitco charts on right side of the commentary. 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 36 notices for 180,000 oz . Three months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 257.31 tonnes for a loss of 46 tonnes over that period. In silver, the open interest fell by a large 4021 contracts as yesterday’s silver price was down by 11 cents. The total silver OI continues to remain relatively high with today’s reading at 171,172 contracts. The front month of March contracted by 12,069 contracts with only 6 days before first day notice. We had 36 notices filed for 180,000 oz In gold we had another surprisingly rise in OI even though gold was down by $8.40 yesterday. The total comex gold OI rests tonight at 391,032 for a gain of 1,502 contracts. Today we had 0 notices served upon for nil oz. We are still pretty close to rock bottom OI gold support being around 359,000. Today, we had a good deposit of 1.5 tonnes with respect to inventory at the GLD Inventory 769.46 tonnes. In silver, /SLV no change in of silver inventory to the SLV/Inventory 320.327 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: the crooks are no longer reporting. 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 rose by another 1502 contracts today from 389,530 all the way up to 391,032 even though gold was down by $8.40 on yesterday (at the comex close). We are now in the big delivery month of the active February contract and here the OI fell by 49 contracts falling to 552. We had 50 contracts served upon yesterday, thus we gained 1 gold contract or an additional 100 ounces will stand in this delivery month . The next contract month of March saw it’s OI fall by 192 contracts down to 718. The next big active delivery month is April and here the OI fell by 486 contracts down to 261,538. The estimated volume today (which is just comex sales during regular business hours of 8:20 until 1:30 pm est) was awful at 69,278. The confirmed volume yesterday ( which includes the volume during regular business hours + access market sales the previous day) was poor at 130,522 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 a large 4021 contracts from 175,193 all the way down to 171,172 even though silver was down by only 11 cents yesterday. The bankers were able to shake some silver leaves from the silver. We are now in the non active contract month of February and here the OI remained constant at 56. We had 0 notices filed on yesterday so we neither gained nor lost any silver ounces in this contract month. The next big active contract month is March and here the OI fell by 12,069 contracts down to 58,722. First day notice for the gold and silver February contract months is on Friday, Feb 27.2015 or 6 trading days away. The March OI is extremely high. The estimated volume today was poor at 21,695 contracts (just comex sales during regular business hours. The confirmed volume yesterday was huge (regular plus access market) at 77,569 contracts. We had 36 notices filed for 180,000 oz today. February initial standings Continue Reading>>>