ANOTHER 2.68 TONNES OF GOLD LEAVES GLD/AGAIN SILVER INVENTORY AT SLV REMAINS FLAT

by Harvey Organ COPPER AND OIL PLUMMET AGAIN/ELECTRICITY CONSUMPTION IN CHINA FALTERS BADLY/ GOLD OI AT COMEX FALTERS, BUT SILVER OI REMAINS AT LOFTY LEVELS Good evening Ladies and Gentlemen: We are entering options expiry week. Comex options expiry Tuesday, July 28. LMBA options expiry: noon London time July 31.2015 OTC options expiry: midnight July 31.2015 we have no chance whatsoever to see gold above 1100.00 or silver above 15.00 dollars until after the entire options expiry. This is how the crooked bankers fleece poor unsuspecting souls. Here are the following closes for gold and silver today: Gold: $1094.00 up $2.60 (comex closing time) Silver $14.68 down 4 cents. In the access market 5:15 pm Gold $1090.30 Silver: $14.70 First, here is an outline of what will be discussed tonight: At the gold comex today, we had a poor delivery day, registering 0 notices for 0 ounces . Silver saw 53 notices filed for 265,000 oz. Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 246.35 tonnes for a loss of 57 tonnes over that period. In silver, the open interest fell by a tiny 629 contracts as yesterday’s price was down by 5 cents and the gold price was pummeled (down $12.00). The total silver OI continues to remain extremely high, with today’s reading at 189,597 contracts now at decade highs despite a record low price. In ounces, the OI is represented by .947 billion oz or 135% of annual global silver production (ex Russia ex China). 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 as they continue to raid as basically they have no other alternative. Today again, we must have had bankers contemplating falling off the roof due to silver’s refusal to buckle with respect to open interest. In silver we had 53 notices served upon for 265,000 oz. In gold, the total comex gold OI rests tonight at 451,725 for a loss of 8,035 contracts as gold was down $12.00 yesterday. We had 0 notices filed for nil oz today. We had another withdrawal in gold tonnage at the GLD to the tune of 2.68 tonnes/ thus the inventory rests tonight at 684.63 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. I thought that 700 tonnes is the rock bottom inventory in GLD gold, but I guess I was wrong. However we must be coming pretty close to a level of only paper gold and the GLD being totally void of physical gold. In silver, we had no change in inventory at the SLV / Inventory rests at 328.834 million oz. We have a few important stories to bring to your attention today… Continue Reading>>>

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