Good evening Ladies and Gentlemen:
Gold: $1,292.90 up $21.50 (comex closing time)
Silver 17.51 UP 21 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 GOOD delivery day, registering 50 notices for 5,000 ounces for gold,and for silver we had 2200 notices for 1,100,000 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 226.122 tonnes for a loss of 77 tonnes over that period
In silver, the open interest rose by 1772 contracts up to 202,893 despite the fact that the price was silver was up by only 2 cents with respect to yesterday’s trading (and gold down). In ounces, the OI is still represented by just over 1 BILLLION oz i.e. .1.014 BILLION TO BE EXACT or 145% 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 220 notices served upon for 1,100,000 oz.
In gold, the total comex gold OI ROSE BY ANOTHER 1122 CONTRACTS UP to 569,492 contracts DESPITE THE FACT THAT THE PRICE OF GOLD WAS DOWN $1.90 with YESTERDAY’S TRADING(at comex closing). i would again suggest that comex officials are facing “a Houston, I have a problem” situation
As far as the GLD, we had another increase of a whopping 8.65 tonnes of gold into the GLD. The new inventory rests at 834.19 tonnes. I have no problem in telling you that the addition was paper gold and not physical as London is having a tough time finding real metal. Surprisingly 1.142 million oz was removed from the SLV heading to other destinations, and no doubt that would be Shanghai which has been buying silver on a blistering pace.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver rise by 1772 contracts up to 202,893 even though the price of silver was UP by only 2 cents with YESTERDAY’S trading. The gold open interest ROSE by ANOTHER 1172 contracts DESPITE THE FACT THAT gold FELL by $1.90 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.I also believe that for the first time we are witnessing players wishing to stand for real physical in gold. The May contract for gold investors are refusing the tempting fiat offer and want only physical.
2 a) Gold trading overnight, Goldcore
(Mark OByrne/off today
2b) Gold trading earlier this morning;
2c) COT report
3. ASIAN AFFAIRS
i)Late THURSDAY night/ FRIDAY morning: Shanghai closed DOWN BADLY BY 84.59 PTS OR 2.82% / Hang Sang closed DOWN 339.05 OR 1.66%. The Nikkei closed DOWN 40.66 POINTS OR .25 . Australia’s all ordinaires CLOSED UP 0.25% AS RESOURCE STOCKS DOING WELL. Chinese yuan (ONSHORE) closed UP at 6.4968. Oil FELL to 44.10 dollars per barrel for WTI and 45.04 for Brent. Stocks in Europe DEEPLY IN THE RED . Offshore yuan trades 6.5127 yuan to the dollar vs 6.4968 for onshore yuan.
REPORT ON JAPAN SOUTH KOREA AND CHINA
a) REPORT ON JAPAN
b) REPORT ON CHINA
Volumes still explode in the bubble of Chinese commodities, however open interest remains stagnant. The bubble has burst:
( zero hedge)
i)We have another Gartman on our hands: Merkel reverses course on policy as she now wants to protect the German borders from immigrants. She must now has found religion!
( zero hedge)
ii)Our good friends over at Deutsche bank seems to be in trouble every day:Now the Italian prosecutor is probing them for possible market manipulation in bonds.Wait until they see the emails on the manipulation in the precious metals’