Gold Approaches $1,300 – Silver Above $17

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Gold Approaches $1,300 – Silver Above $17 by Harvey Organ

GOLD: $1287.80 UP $4.10

Silver: $17.08 up 4 cent(s)

Closing access prices:

Gold $1289.50

silver: $17.11

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: $1288.86 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1284.30

PREMIUM FIRST FIX: $4.56

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SECOND SHANGHAI GOLD FIX: $1291.86

NY GOLD PRICE AT THE EXACT SAME TIME: $1288.40

Premium of Shanghai 2nd fix/NY:$3.46

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LONDON FIRST GOLD FIX: 5:30 am est $1288.30

NY PRICING AT THE EXACT SAME TIME: $1288.40

LONDON SECOND GOLD FIX 10 AM: $1286.10

NY PRICING AT THE EXACT SAME TIME. $1287.10

For comex gold:

AUGUST/

NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 19 NOTICE(S) FOR 1900 OZ.

TOTAL NOTICES SO FAR: 4487 FOR 448700 OZ (13.956 TONNES)

For silver:

AUGUST

88 NOTICES FILED TODAY FOR

44,000 OZ/

Total number of notices filed so far this month: 810 for 4,050,000 oz

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Today, the bankers tried to raid both gold and silver. They like Friday’s especially once London officially closes because they do not have to worry about physical demand for another 48 hrs starting on Monday. Once again their attack was rebuffed. Also extremely encouraging is the COT for silver which saw bankers start to unload their massive shortfall

Let us have a look at the data for today

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In silver, the total open interest SURPRISINGLY FELL BY 687 contracts from 195,132 DOWN TO 194,445 DESPITE THE HUGE RISE IN THE PRICE THAT SILVER TOOK WITH RESPECT TO YESTERDAY’S TRADING (UP 21 CENT(S). SIMPLE EXPLANATION: THE BANKERS HAVE CAPITULATED..THEY ARE TRYING TO COVER THEIR SHORTFALL AT HIGHER AND HIGHER PRICES. THE BANKERS ARE LOATHER TO SUPPLY ADDITIONAL SHORT PAPER AND LONGS ARE COMING IN LIKE GANG BUSTERS.

In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.972 BILLION TO BE EXACT or 139% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 88 NOTICE(S) FOR 440,000 OZ OF SILVER

In gold, the open interest ROSE by A CONSIDERABLE 11,516 WITH the RISE in price of gold ($10.70 GAIN ON YESTERDAY.) The new OI for the gold complex rests at 475,913. IN COMPLETE CONTRAST TO SILVER, THE BANKERS SUPPLIED THE MASSIVE AMOUNT OF PAPER SHORT GOLD WHICH WAS GOBBLED UP BY THE LONGS. THE NEWBIE SPEC SHORTS HAVE NO DOUBT COVERED THEIR POSITION. NO WONDER A RAID WAS CALLED UPON BY THE ELITE TO ROB THE NEWBIE LONGS.

we had: 19 notice(s) filed upon for 1900 oz of gold.

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

GLD:

Today, no changes in gold inventory:

Inventory rests tonight: 786.87 tonnes

(from Tuesday through Thursday we lost .17 tonnes which paid for fees)

IN THE LAST 21 TRADING DAYS: GLD SHEDS 50.1 TONNES YET GOLD IS HIGHER BY $48.95 .

SLV

Today: : WE NO CHANGES IN SILVER INVENTORY TONIGHT:

INVENTORY RESTS AT 335.825 MILLION OZ BUT WE LOST 3.781 MILLION OZ FROM TUESDAY THROUGH TO THURSDAY.

Let us head over to the comex:

The total gold comex open interest ROSE BY A HUGE 11,516 CONTRACTS UP to an OI level of 475,913 WITH THE HUGE RISE IN THE PRICE OF GOLD ($10.70 with YESTERDAY’S trading). NEWBIE LONGS ENTERED THE ARENA WITH THE BANKERS SUPPLYING THE PAPER. NEWBIE SPEC SHORTS ARE NOW COMPLETELY OUT OF THEIR POSITIONS. THE HUGE RISE IN OPEN INTEREST WAS FODDER FOR THE CROOKS TO RAID TODAY.

We are now in the contract month of August and it is the 3rd best of the delivery months after December and June.

The active August contract LOST 12 contract(s) to stand at 1262 contracts. We had 106 notices filed upon YESTERDAY so we GAINED 94 contracts or an additional 9400 oz will stand at the comex and 0 EFP’s were issued which entitles the long holder to a fiat bonus plus a futures contract and most probably that would be a London based forward.

The non active September contract month saw it’s OI LOSE 178 contracts DOWN to 1522.

The next active contract month is Oct and here we saw a GAIN of 2535 contracts UP to 50,039.

The very big active December contract month saw it’s OI GAIN 9,239 contracts up to 371,145.

We had 19 notice(s) filed upon today for 1900 oz

For those keeping score: in the upcoming front delivery month of August:

LAST YEAR WE HAD A MONSTROUS 44.7 TONNES OF GOLD INITIALLY. BY THE CONCLUSION OF THE AUGUST CONTRACT MONTH 44.358 TONNES STOOD FOR DELIVERY.

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