Silver With a $16 Handle – Will Gold Move Below $1,200

Silver With a $16 Handle – Will Gold Move Below $1,200

Gold: $1202.40 up $1.70

Silver: $16.93 up 5 cents

Closing access prices:

Gold $1204.50

silver: $17.00

For comex gold:

MARCH/

NOTICES FILINGS TODAY FOR MARCH CONTRACT MONTH: 0 NOTICE(S) FOR nil OZ. TOTAL NOTICES SO FAR: 59 FOR 5900 OZ (0.1835 TONNES)

For silver:

For silver: MARCH

3 NOTICES FILED TODAY FOR 15,000 OZ/

Total number of notices filed so far this month: 2751 for 13,755,000

Let us have a look at the data for today.

In silver, the total open interest FELL by 1158 contracts DOWN to 188,390 with respect to FRIDAY’S TRADING. In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. 0.9420 BILLION TO BE EXACT or 134% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MARCH MONTH: THEY FILED: 3 NOTICE(S) FOR 15,000 OZ OF SILVER

In gold, the total comex gold FELL BY CONSIDERABLE 7,410 contracts WITH ANOTHER FALL IN THE PRICE GOLD ($1.70 with FRIDAY’S TRADING) The total gold OI stands at 418,427 contracts. Note the difference between gold and silver.

we had 0 notice(s) filed upon for NIL oz of gold.

With respect to our two criminal funds, the GLD and the SLV:

GLD:

We had a big change in tonnes of gold at the GLD: this time a huge deposit of 6.78 tonnes

Inventory rests tonight: 832.03 tonnes.

SLV

We had no changes in inventory at the SLV/

THE SLV Inventory rests at: 330.136 million oz

end

Let us head over to the comex:

The total gold comex open interest FELL CONSIDERABLY BY 7,410 CONTRACTS DOWN to an OI level of 418,427 WITH THE FALL IN THE PRICE OF GOLD ( $1.70 with FRIDAY’S trading). We are probably only 25,000 contracts away from rock bottom (393,000). We are now in the contract month of MARCH and it is one of the poorer delivery months of the year. In this MARCH delivery month we had a LOSS of 3 contract(s) DOWN to 28. We had 2 contact(s) served on FRIDAY, so we LOST 1 CONTRACT(S) or AN ADDITIONAL 100 ounces will NOT stand for delivery. The next active contract month is April and here we saw it’s OI FALL by 11,871 contracts DOWN TO 204,831 contracts.

For comparison purposes, the April 2016 contract at this time had an OI of 269,016 contracts. At the end of April/2016 only 12.3917 tonnes stood for physical delivery, although 21.306 tonnes stood initially at the beginning of April 2016.

The non active May contract month LOST 13 contract(s) and thus its OI is 763 contracts. The next big active month is June and here the OI ROSE by 3360 contracts up to 126,823.

We had 0 notice(s) filed upon today for NIL oz

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