Harvey Organ: Metals Smashed, But PM Shares Rise!
by Harvey Organ, Silver Doctors Good evening Ladies and Gentlemen: Here are the following closes for gold and silver today: Gold: $1150.70 down $9.40 (comex closing time) Silver: $15.41 down 27 (comex closing time) In the access market 5:15 pm Gold $1161.60 silver $15.62 The unhedged HUI index rose by 5.16 up to 162.72 despite gold’s fall. This may be the bottom for gold. Gold/silver trading: see Market Data charts here: 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 1 notice for 5,000 oz . Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 254.52 tonnes for a loss of 48.5 tonnes over that period. Lately the removals have been rising! In silver, the open interest rose by an astonishing 1,494 contracts even though yesterday’s silver price was down 14 cents. The total silver OI continues to remain relatively high with today’s reading at 169,125 contracts. The front month of March contracted by 51 contracts. We had 1 notice served upon for 5,000 oz. In gold we had a fall in OI with gold down by $6.30 yesterday. The total comex gold OI rests tonight at 410,918 for a loss of 2,783 contracts. Today, surprisingly we again had only 0 notices served upon for nil oz. Today, we had no changes in the GLD/Inventory rests at 753.04 tonnes In silver, /SLV we had no change in inventory at the SLV/Inventory, remaining at 327.332 million oz We have a few important stories to bring to your attention today… 1. The Greece affair. It looks like the Troika are going to set foot on Greek soil. Greece starts to make noise that they want compensation for Nazi crimes during World War ii (zero hedge) 2. Euro falters to 1.053 to the dollar. ECB finds it difficult to purchase bonds on their QE program. 3. Venezuela now starting negotiations to swap some of its gold for dollars. (zero hedge) 4. Thailand becomes the 23rd nation to lower interest rates as the global economy falters badly. 5. The IMF agree to a 15.4 billion loan agreement with the Ukraine. Continue Reading>>>