Harvey Organ: Bankers Knock Off the Specs!

by Harvey Organ, Silver Doctors Good evening Ladies and Gentlemen: Here are the following closes for gold and silver today: Gold: $1208.90 up $2.00 (comex closing time) Silver $17.09 up 4 cents (comex closing time) In the access market 5:15 pm Gold $1209.50 Silver: $17.13 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: At the gold comex today, we had a poor delivery day, registering 8 notice serviced for 800 oz. Silver comex filed with 1 notices for 5,000 oz Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 243.60 tonnes for a loss of 59 tonnes over that period. In silver, the open interest fell considerably by 3,517 contracts as Tuesday’s silver price was down by 66 cents as more bankers covered their silver shortfall. The total silver OI continues to remain extremely high with today’s reading at 174,337 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 1 notice served upon for 5,000 oz. In gold, the total comex gold OI rests tonight at 428,597 for a loss of 2,077 contracts as gold was down by $20.90 yesterday. We had 8 notices served upon for 800 oz. Today, we had another big changes in inventory at the GLD. We had another withdrawal of 2.98 tonnes and thus the new inventory rests tonight at 715.26 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. In silver, /we had no change in silver inventory at the SLV/Inventory rests at 317.930 million oz We have a few important stories to bring to your attention today… 1. Today we had the open interest in silver fall able 3517 contracts as silver was down in price yesterday by 66 cents. The OI for gold fell by 2077 contracts down to 428,597 contracts as the price of gold was down by $20.90 yesterday. (report Harvey) Continue Reading>>>

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