Good evening Ladies and Gentlemen:
Gold: $1,276.20 UP $2.80 (comex closing time)
Silver 17.23 UP 9 cents
In the access market 5:15 pm
You will probably note that gold is always much stronger in the physical time zones as opposed to the paper time zone. The Chinese fix at around 12 midnight EST provides strength for gold and silver as actual metal is fixed in price instead of the complex and dubious London fix. However the Chinese fix is certainly mustering strength for gold in the wee hours of the morning. Then at 10 -12 noon we have the London afternoon fix and again we see gold/silver higher. Once London is put to bed, the crooks whack OUR PRECIOUS METALS lowering the price until we start the cycle all over again.
The amount standing for gold in May is simply outstanding at 6.50 tonnes. The previous May 2015, we had only .08 tonnes so you can certainly witness the difference as the demand for gold by investors/sovereigns is on a torrid pace. This makes the excitement for June gold that much more intense as more players are refusing fiat and demanding only physical metal. I will be reporting daily as to how which is standing for delivery through the active month of June. June is the second largest delivery month after December.
Let us have a look at the data for today
At the gold comex today we had a HUGE delivery day, registering 1012 notices for 101,200 ounces for gold,and for silver we had 1 notice for 5,000 oz for the non active May delivery month.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 236.257 tonnes for a loss of 67 tonnes over that period
In silver, the open interest rose by 1472 contracts down to 206,214 as the price was silver was UP by 2 cents with respect to yesterday’s trading. In ounces, the OI is still represented by just over 1 BILLION oz i.e. .1.031 BILLION TO BE EXACT or 147% of annual global silver production (ex Russia &ex China)
In silver we had 1 notice served upon for 5,000 oz.
In gold, the total comex gold OI rose by a considerable 16,767 contracts up to 596,513 as the price of gold was up $1.60 with yesterday’s trading(at comex closing).
As far as the GLD, we had a huge change, another 4.76 deposit into the GLD. The new inventory rests at 855.89 tonnes. We had no changes in silver inventory at the SLV. Inventory rests at 335.073 million oz.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver rise by 1,472 contracts UP to 206,214 as the price of silver was UP ONLY by 2 cents with yesterday’s trading. The gold open interest ROSE by 16,767 contracts as gold was up $1.50 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. Gold investors, in the May contract month are refusing the tempting fiat offer as they want only physical.
2 a) Gold trading overnight, Goldcore
(Mark OByrne/off today
2b) Gold trading earlier this morning;
3. ASIAN AFFAIRS
.i)Late MONDAY night/ TUESDAY morning: Shanghai closed DOWN BY 7.17 PTS OR 0.25% / Hang Sang closed UP 234.85 OR 1.18%. The Nikkei closed UP 186.40 POINTS OR 1.13% . Australia’s all ordinaires CLOSED UP 0.69% Chinese yuan (ONSHORE) closed DOWN at 6.5261. Oil ROSE to 47.76 dollars per barrel for WTI and 48.80 for Brent. Stocks in Europe MOSTLY IN THE GREEN . Offshore yuan trades 6.54620 yuan to the dollar vs 6.5261 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE REMAINS CONSTANT.
REPORT ON JAPAN SOUTH KOREA AND CHINA
a) REPORT ON JAPAN
b) REPORT ON CHINA
Amazing another German Bank’s analyst, Berenberg’s James Chappell states that Deutsche bank’s problems are basically insurmountable and he downgrades the stock to sell. Boy does he have guts:
(Berenberg Bank/Chappell/zero hedge)
5.RUSSIAN AND MIDDLE EASTERN AFFAIRS
i)It is now time to annoy Russia so more: War games are initiated right in Russia’s back yard:
( zero hedge)
ii)The USA Senate passed the bill that would expose the Saudi’s role in the 9/11 terror attacks. Obama states that he would veto the bill and as such he is putting the Saudis ahead of USA victims of the tragedy!
The Opposition leader has urged Venezuelans to defy the state of emergency. The country is in complete anarchy and now the government has the authority to confiscate businesses who are not producing goods because they cannot get their hands on uSA dollars to buy the raw materials they need:
(courtesy zero hedge)
i)Nigeria has always had problems with militants. Now meet the newest member of militant to cause huge problems for this oil nation: the Niger Delta Avengers:
They are certainly causing oil to rise in price as they keep millions of barrels of oil off market:
( zero hedge)
ii)Crude slides after API reports a lower than expected draw:
( zero hedge)
i)An excellent presentation showing where physical gold is stored in the USA:
( Ronan Manly/GATA)
ii)Geo. Soros buys $264 million dollars worth of Barrick gold and he also buys calls on the GLD. He could do better on both fronts: there are better miners and GLD is a fraud in that there is no gold behind it.
iii)It now seems that everyone knows that the gold/silver futures market is toally rigged. Anybody playing this market is foolish!
iv)Although I generally cover silver and gold, the other two precious metals also deserve some attention. Here is Lawrie Williams discussing Platinum and Palladium:
( Lawrie on Gold/Lawrence Williams)
v)Gold would certainly be a big winner on a BREXIT
9.USA STORIES WHICH MAY INFLUENCE THE PRICE OF GOLD AND SILVER
i)Headline CPI rises .4% month/month and the biggest jump since Feb 2013. Also hourly wages slid .1%. Not a good report
( zero hedge)
ii)OBAMACARE losses mount but what is very troubling is many are refusing to take Obamacare:
iii)The clowns are at it again: Lockhart and Williams say a rate hike in June is on the table