Gold & Silver Move to the Upside – Will it Continue?
Gold & Silver Move to the Upside – Will it Continue? by Harvey Organ
GOLD: $1230.30 UP $12.00
Silver: $15.96 UP 21 cent(s)
Closing access prices:
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: $1226.61 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1216.15
PREMIUM FIRST FIX: $10.46
SECOND SHANGHAI GOLD FIX: $1226.95
NY GOLD PRICE AT THE EXACT SAME TIME: $1218.10
Premium of Shanghai 2nd fix/NY:$8.85
LONDON FIRST GOLD FIX: 5:30 am est $1218.95
NY PRICING AT THE EXACT SAME TIME: $1218.95
LONDON SECOND GOLD FIX 10 AM: $1230.30
NY PRICING AT THE EXACT SAME TIME. $1231.60
For comex gold:
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 2 NOTICE(S) FOR 200 OZ.
TOTAL NOTICES SO FAR: 117 FOR 11700 OZ (.3639 TONNES)
8 NOTICES FILED TODAY FOR
Total number of notices filed so far this month: 2815 for 14,075,000 oz
I HAVE BEEN TOLD LAST NIGHT AT THE CANADIAN ROYAL MINT HAS RUN OUT OF 10 OZ AND 100 OZ BARS OF SILVER AND WILL NOT BE BACK IN PRODUCTION UNTIL LATE AUGUST. SILVER IS ALSO DEEPLY BACKWARD IN PRICE JULY/SEPT IN LONDON FORWARDS.
Let us have a look at the data for today
In silver, the total open interest FELL BY 2121 contract(s) DOWN to 206,358 WITH THE FALL IN PRICE THAT SILVER TOOK WITH YESTERDAY’S TRADING (DOWN 18 CENT(S). WITH THE DATA TODAY, THE ONLY EXPLANATION IS THE COMMERCIALS CONTINUED AS THE SUPPLIER OF THE SHORT PAPER AND COVERED SOME OF THEIR SHORTS. THE SPECULATORS PITCHED SOME OF THEIR LONG SIDE PAPER
In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.033 BILLION TO BE EXACT or 148% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 8 NOTICE(S) FOR 40,000 OZ OF SILVER
In gold, the total comex gold FELL BY A RATHER TAME 3,841 CONTRACTS WITH THE FALL IN THE PRICE OF GOLD ($1.50 with YESTERDAY’S TRADING). The total gold OI stands at 487,597 contracts. AGAIN, THE COMMERCIALS SUPPLIED THE SHORT PAPER TO WHICH THE SPECULATORS DECIDED TO LIGHTEN UP A BIT ON THEIR LONGS TO WHICH SOME OF THE COMMERCIALS COVERED THEIR SHORT POSITION.
we had 2 notice(s) filed upon for 200 oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
Today a huge change in tonnes of gold at the GLD/strange!! a withdrawal of 3.55 tonnes with gold up $12.00
Inventory rests tonight: 828.84 tonnes.
Today: : , WE HAD NO CHANGES AT THE SLV/
INVENTORY RESTS AT 349.012 MILLION OZ
Let us head over to the comex:
The total gold comex open interest FELL BY A RATHER TAME 3,841 CONTRACTS DOWN to an OI level of 487,597 WITH THE FALL IN THE PRICE OF GOLD ($1.50 with YESTERDAY’S trading). THE COMMERCIALS SUPPLIED THE SHORT PAPER TO WHICH THE SPECULATORS LIGHTENED UP ON THE LONG SIDE. THERE WAS SOME COMMERCIAL SHORT COVERING.
We are now in the contract month of JULY and it is one of the POORER delivery months of the year. .
The non active July contract LOST 53 contract(s) to stand at 32 contracts. We had only 52 notices filed YESTERDAY morning, so we LOST 1 contracts or an additional 100 oz will NOT stand in this non active month of July. Thus 1 EFP notice(s) was given which gives the long holder a fiat bonus plus a futures contract for delivery and most likely these are London based forwards. The contracts are private so we do not get to see all the particulars. The next big active month is August and here the OI LOST 16,656 contracts DOWN to 246,805, as this month winds down prior to first day notice. The next non active contract month is September and here they lost another 5 contracts to stand at 476. The next active delivery month is October and here we gained 430 contracts up to 22,062. October is the poorest of the active gold delivery months as most players move right to December.
We had 2 notice(s) filed upon today for 200 oz
For those keeping score: in the upcoming front delivery month of August:
On July 11.2016: open interest for the front month: 349,573 contracts compared to July 14.2017: 264,461.