Harvey Organ: DuesselHyp Failure A Sign of Looming Derivative Melt-down?
by Harvey Organ, Silver Doctors Good evening Ladies and Gentlemen: Here are the following closes for gold and silver today: Gold: $1153.30 up $0.70 (comex closing time) Silver: $15.60 up 12 cents (comex closing time) In the access market 5:15 pm Gold $1154.45 Silver: $15.64 Gold/silver trading: see kitco charts on the 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 1 notice served for 100 oz. Silver comex registered 113 notices for 565,000 oz . Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 249.88 tonnes for a loss of 53 tonnes over that period. Lately the removals have been rising! In silver, the open interest rose by another astonishing 2,458 contracts even though Friday’s silver price was down by 1 cent. The total silver OI continues to remain extremely high with today’s reading at 177,160 contracts. The front month of March fell by 39 contracts. We are now at multi year high in the OI despite a record low price. This dichotomy has been happening now for quite a while and defies logic.What is also strange today is the fact that the OI in went up with a very tiny volume on Friday. This must be scaring our bankers to no end. We had 113 notices served upon for 565,000 oz. In gold we had a slight fall in OI with gold down by $0.50 on Friday. The total comex gold OI rests tonight at 424,231 for a loss of 204 contracts. Today, surprisingly we again had only 1 notices served upon for 100 oz. Today, we had a constant inventory at the GLD/Inventory rests at 750.67 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, Strange data again at the comex tonight: huge OI increases in silver despite lower prices/silver OI at multi year highs and yet silver is extremely low in price. Again at the gold comex, we are witnessing massive amounts of our ancient metal of kings leaving the vaults. (harvey) Continue Reading>>>