The Beatings Continue – Gold and Silver Smacked, Again

The Beatings Continue – Gold and Silver Smacked, Again

Gold: $1201.90 DOWN $0.50

Silver: $16.89 DOWN 4 cents

Closing access prices:

Gold $1199.70

silver: $16.90

SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)

SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)

SHANGHAI FIRST GOLD FIX: 1222.23 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: 1204.00

PREMIUM FIRST FIX: $18.23

SECOND SHANGHAI GOLD FIX: 1223.48

NY GOLD PRICE AT THE EXACT SAME TIME: 1202.25

Premium of Shanghai 2nd fix/NY:$21.23

LONDON FIRST GOLD FIX: 5:30 am est 1203.25

NY PRICING AT THE EXACT SAME TIME: 1203.60

LONDON SECOND GOLD FIX 10 AM: 1204.60

NY PRICING AT THE EXACT SAME TIME. 1203.75

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

241 NOTICES FILED TODAY FOR 1,205,000 OZ/

Total number of notices filed so far this month: 2992 for 14,960,000

Three big events for tomorrow:

FOMC will raise rates despite the economy faltering
Dutch elections
Debt ceiling has been reached officially and then the fun begins
I will report on all of these points tomorrow.

Let us have a look at the data for today.

In silver, the total open interest ROSE by 229 contracts UP to 188,619 with respect to YESTERDAY’S TRADING. In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. 0.943 BILLION TO BE EXACT or 134% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MARCH MONTH: THEY FILED: 241 NOTICE(S) FOR 1,205,000 OZ OF SILVER

In gold, the total comex gold ROSE BY A CONSIDERABLE 7,593 contracts EVEN WITH A SMALL PRICE RISE IN GOLD ($1.70 with YESTERDAY’S TRADING) The total gold OI stands at 426,020 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 another huge deposit of 2.93 tonnes

Inventory rests tonight: 834.99 tonnes.

SLV

We had a huge changes in inventory at the SLV/a deposit of 1,136,000 oz

THE SLV Inventory rests at: 331.272 million oz

end

Let us head over to the comex:

The total gold comex open interest ROSE BY A CONSIDERABLY 7,593 CONTRACTS UP to an OI level of 426,020 WITH THE RISE IN THE PRICE OF GOLD ( $1.70 with YESTERDAY’S trading). We are probably only 33,000 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 GAIN of 3 contract(s) PU to 31. We had 0 contact(s) served YESTERDAY, so we GAINED 3 CONTRACT(S) or AN ADDITIONAL 300 ounces will stand for delivery. The next active contract month is April and here we saw it’s OI FALL by 4874 contracts DOWN TO 199,957 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 14 contract(s) and thus its OI is 749 contracts. The next big active month is June and here the OI ROSE by 10,456 contracts up to 137,278.

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

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