Harvey Organ: Metals Bombed Again!
by Harvey Organ, Silver Doctors Good evening Ladies and Gentlemen: Here are the following closes for gold and silver today: Gold: $1186.90 down $16.00 (comex closing time) Silver: $15.79 down 21 cents (comex closing time) In the access market 5:15 pm Gold $1187.16 Silver: $15.79 Following is a brief outline on gold and silver comex figures for today: At the gold comex today, we surprisingly had a good delivery day, registering 54 notices served for 5400 oz. Silver comex filed with 150 notices for 750,000 oz . Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 246.107 tonnes for a loss of 57 tonnes over that period. Lately the removals have been rising! end In silver, the open interest rose by another 2926 contracts as Tuesday’s silver price was up by 12 cents. The total silver OI continues to remain extremely high with today’s reading at 181,633 contracts rising to multi-year record highs. The front April month has an OI of 173 contracts for a gain of 1 contract. We are now at multi year high in the total OI complex despite a record low price. This dichotomy has been happening now for quite a while and defies logic. There is no doubt that the silver situation is scaring our bankers to no end. We had 150 notices served upon for 750,000 oz. In gold, the total comex gold OI rests tonight at 397,379 for a loss of 1139 contracts with gold up by $9.40 yesterday. We had 54 notices served upon for 5400 oz. Today, we had no changes in gold inventory at the GLD/ Gold Inventory rests at 742.35 tonnes Looks to me like London is out of gold. In silver, / /we had a huge addition of 1.434 million oz in silver inventory at the SLV/ and thus the inventory tonight is 326.334 million oz We have a few important stories to bring to your attention today… 1. Today we had the open interest in silver rise by another huge 2926, contracts with the rise in price on Tuesday (14 cents). Not only that but the OI for the front month of May fell by only 3,826 contracts as we have only 6 trading days left before first day notice. The OI for gold fell by 1,139 contracts down to 397,379 contracts as price of gold rose by $9.40 on Tuesday. Continue Reading>>>