Harvey Organ’s Weekend Update: COMEX, LBMA,& GLD Bleeding Gold!
by Harvey Organ, Silver Doctors Good evening Ladies and Gentlemen: Here are the following closes for gold and silver today: Gold: $1225.50 up $0.10 (comex closing time) Silver $17.54 up 9 cents (comex closing time) In the access market 5:15 pm Gold $1224.00 Silver: $17.50 Following is a brief outline on gold and silver comex figures for today: At the gold comex today, we had a poor delivery day, registering 0 notice serviced for nil oz. Silver comex filed with 14 notices for 70,000 oz Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 242.25 tonnes for a loss of 61 tonnes over that period. Looks to me like the comex is bleeding profusely!! In silver, the open interest fell slightly by 73 contracts as Thursday’s silver price was up by 24 cents. The total silver OI continues to remain extremely high with today’s reading at 180,310 contracts maintaining itself near multi-year highs 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. In silver we had 14 notices served upon for 70,000 oz. In gold, the total comex gold OI rests tonight at 423,191 for a gain of 5,475contracts as gold was up by $7.00 yesterday. We had 0 notices served upon for nil oz. Today, we had no change in gold Inventory at the GLD. It rests tonight at 723.91 tonnes. The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold. On Tuesday Koos Jansen informed me that last week 38 tonnes of gold was demanded by the Chinese. India reported that 110 tonnes of gold was imported into the country in the month of March. That does not include the smuggled gold . In silver, /no change in silver inventory at the SLV / and thus the inventory tonight remains at 320.750 million oz We have a few important stories to bring to your attention today… 1. Today we had the open interest in silver fall by a tiny 73 contracts as silver was up in price yesterday by 14 cents. The OI for gold rose by 5,475 contracts up to 423,191 contracts as the price of gold was up by $7.00 yesterday. GLD had SLV had no changes to their inventory levels. Continue Reading>>>