Good evening Ladies and Gentlemen:
Gold: $1,273.30 down $17.40 (comex closing time)
Silver 17.28 down 19 cents
In the access market 5:15 pm
Let us have a look at the data for today
At the gold comex today we had a POOR delivery day, registering 0 notices for NIL ounces for gold,and for silver we had 143 notices for 715,000 oz for the non active April delivery month.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 228.04 tonnes for a loss of 75 tonnes over that period
In silver, the open interest fell by 1022 contracts down to 198,237 as the price was silver was down by 19 cents with respect to yesterday’s trading. In ounces, the OI is still represented by just under 1 BILLLION oz i.e. .991 BILLION TO BE EXACT or 141% of annual global silver production (exRussia &ex China) We are now within spitting distance of all time highs for OI with respect to silver
In silver we had 143 notices served upon for 715,000 oz.
In gold, the total comex gold OI ROSE BY AN EARTH SHATTERING 17,273 CONTRACTS UP to 565,774 contracts DESPITE THE FACT THAT THE PRICE OF GOLD WAS DOWN $4.00 with YESTERDAY’S TRADING(at comex closing).
We had a small addition in tonnes of gold inventory at the GLD at .6 tonnes; thus the inventory rests tonight at 825.54 tonnes. .Our 670 tonnes of rock bottom inventory in GLD gold has been broken. It looks to me that China has taken the last amounts of physical gold from the GLD. I guess the only place left for China to receive physical gold, after they deplete the GLD will be the FRBNY and the comex. In silver’s SLV,we had a large withdrawal of 1.553 million oz in silver . Thus the inventory rests at 337.261 million oz.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver fall by 1,022 contracts down to 198,237 as the price of silver was DOWN 19 cents with YESTERDAY’S trading. The gold open interest ROSE by A GIGANTIC 17,273 contracts DESPITE THE FACT THAT gold FELL by $4.00 YESTERDAY. Somebody big is standing FOR SILVER and surrounding the comex with paper longs ready to ponce once called upon to take out physical silver. Also the bankers are resolute in supplying non backed gold paper but they do not want to supply more silver paper. It sure looks like the bankers are getting scared with respect to silver as it looks like they are capitulating as the start to cover their shortfall. With respect to gold, they are not fearful and supply as much paper as there are trees ready to be sacrificed
2 a) Gold trading overnight, Goldcore
(Mark OByrne/off today
2b) Gold trading earlier this morning; Gold pierces 1300 dollars again before the bankers try their raid
2c) FRBNY gold movement report
3. ASIAN AFFAIRS
i)Late TUESDAY night/ WEDNESDAY morning: Shanghai closed DOWN 1.371 PTS OR 0.05% / Hang Sang closed DOWN 151.11 OR 0.73%. The Nikkei closed FOR HOLIDAY . Australia’s all ordinaires CLOSED DOWN 1.54% Chinese yuan (ONSHORE) closed DOWN at 6.5035. Oil ROSE to 43.75 dollars per barrel for WTI and 45.12 for Brent. Stocks in Europe DEEPLY IN THE RED . Offshore yuan trades 6.5135 yuan to the dollar vs 6.5035 for onshore yuan.CHINA FIRES ANOTHER SHOT ACROSS THE BOW BY LOWERING ITS YUAN (SEE BELOW)
REPORT ON JAPAN SOUTH KOREA AND CHINA
a) REPORT ON JAPAN
Japan temporarily intervenes the lowering the yen but to no avail
( zero hedge)
b) REPORT ON CHINA
i) China again sends a strong message to the USA not to raise the USA dollar or else the POBC will devalue the yuan hugely: that message sent all bourses into the dumpster immediately.
( zero hedge)
ii)Pork prices have risen considerably this past year and it threatens social unrest as pork is a stable in all Chinese diets. Thus to prevent disorder, the bosses of China has unleashed their own strategic porcine reserve to lower prices:
i)Europe just made a deal with the devil: Here comes the Turkish flood as the EU now allows travel to 80 million Turks
( zero hedge)_
ii)It begins: the war on paper currency official begins with the ECB’s removal of the EU 500 note. This will be the start of new aggressive NIRP policies:
5.RUSSIAN AND MIDDLE EASTERN AFFAIRS
The Turkish Lira plummets 4.5% to 2.95 to the dollar as Erdogan wants to usurp more power from the Prime Minister Davutoglu. The market does not like it:
(courtesy zero hedge)
Bankruptcies in the uSA shale continue to rise
i)Central banks would love the technology behind Bitcoin.
8..USA MARKETS AND ITS INFLUENCE ON GOLD/SILVER
i)Another retailer goes bust: Aeropostale. The reason for all of these retail bankruptcies is probably two fold:
a) bricks and mortal stores cannot compete against on line stores
b) the consumer is tapped out
( zero hedge)
ii)This is a surprise: the ever bullish ADP report from Mark Zandi shows that employment growth is the worst in 3 years as the job creation machine stalls:
( Mark Zandi/ADP/zero hedge)