Good evening Ladies and Gentlemen:
Gold: $1,292.50 DOWN $3.60 (comex closing time)
Silver 17.40 DOWN 19 cents
In the access market 5:15 pm
And for comparison: just look what the access price of gold and silver were yesterday at 5:15 pm
The June gold contract is an active contract. Last night we had a poor sized 4 notices filed last night, for 400 oz to be served upon today. The total number of notices filed in the first 12 days is enormous at 15,141 for 1,514,100 oz. (47.094 tonnes)
ii) in silver we had 207 notices filed for 1,035,000 oz.. Total number of notices served in the 10 days: 409 for 2,045,000 oz
Let us have a look at the data for today
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 274.09 tonnes for a loss of 29 tonnes over that period
In silver, the total open interest ROSE by 172 contracts UP to 202,138 DESPITE THE FACT THAT THE PRICE OF SILVER WAS up by 10 cents with respect to YESTERDAY’S trading. In ounces, the OI is still represented by just over 1 BILLION oz i.e. 1.010 BILLION TO BE EXACT or 142% of annual global silver production (ex Russia &ex China)
In silver we had 207 notices served upon for 2,045,000 oz.
In gold, the total comex gold OI ROSE by a GIGANTIC 19,757 contracts UP to 574,733 as the price of gold was UP $10.30 with YESTERDAY’S trading (at comex closing).
With respect to our two criminal funds, the GLD and the SLV:
Huge activity last night and today:
We had two deposits:
last night: a deposit of 1.782 tonnes
this afternoon: 5.3480 tonnes
they must have been busy loading the “paper” gold into inventory!
We had no changes in inventory, the GLD/Inventory rests at 907.88 tonnes.
THIS MAKES NO SENSE!!
We had A HUGE WITHDRAWAL FROM inventory to the tune of 5.418 million oz, silver inventory tonight rests at 337,347 million oz. If they did have some physical silver that inventory was used to ship to China which has been massively importing silver..
Both the GLD and SLV are massive frauds as they have no metal behind them!
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver ROSE by 172 contracts up to 202,310 as the price of silver was UP 10 cents with YESTERDAY’S trading. The gold open interest ROSE by a whopping 19575 contracts UP to 574,733 as the price of gold was up $10.30 YESTERDAY.
2 a) Gold trading overnight Europe, Goldcore
3. ASIAN AFFAIRS
i)Late THURSDAY night/ FRIDAY morning: Shanghai closed UP 12.28 POINTS OR 0.43% / /Hang Sang closed UP 131.56 OR 0.66%. The Nikkei closed UP 165.52 POINTS OR 1.07% Australia’s all ordinaires CLOSED UP 0.32% Chinese yuan (ONSHORE) closed DOWN at 6.5913 /Oil ROSE to 46.93 dollars per barrel for WTI and 48.28 for Brent. Stocks in Europe ALL IN THE GREEN . Offshore yuan trades 6.6009 yuan to the dollar vs 6.5913 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS
REPORT ON JAPAN SOUTH KOREA AND CHINA
a) REPORT ON JAPAN
b) REPORT ON CHINA
This could be a deadly fight as Beijing orders Apple to stop sales of iphone 6 models as they state that they are infringing on Chinese intellectual property.
If a fight occurs, you can be sure that China will take delivery of its gold and silver at the comex.
( zero hedge)
4. EUROPEAN AFFAIRS
i)The following indicates the health of Greek citizens have been hit hard with austerity:
( KeepTalking Greece.com)
ii)My goodness it begins: Members of the European Parliament beg Draghi to initiate helicopter money
iii)Lewis Johnson of Capital Wealth Advisors, discusses the real issue in the BREXIT debate. He claims, like Alasdair Macleod, that the real issue is the health of European Banks, something that I have also been harping on( Lewis Johnson/Capital Wealth Advisors)
iv)The BREXIT and BREMAIN suspends campaigning until Saturday. However it looks like that death of Jo Cox will cause a sympathy vote towards the REMAIN crowd.
v)Interesting! British credit default risk soars to 3 yr highs as worries about a BREXIT intensify!(courtesy zero hedge)
vi)Leave it to JPMorgan to find who is in the correct lead: They report a 3 to 5% lead for the leave (BREXIT) crowd.
vii)Then bang!! late this afternoon a huge gain for the BREXIT crowd:
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
i)Another terrific commentary from Michael Snyder as he outlines how the top 10 economies in the world are faring: in a nutshell, badly!
( Michael Snyder/Economic Collapse Blog)
ii)1,Japan announced last night that they have purchased 34% of all Japanese bonds outstanding. Quite a feat!
Oil rigs in the USA are rising at the fastest pace in 10 months
( zero hedge)
9. PHYSICAL STORIES
i)Canada experiments with the “Bitcoin” blockchain:
( London’s Financial Times/Stafford/GATA)
ii)A huge paper tonight from Alasdair Macleod and a must read. He delves into the BREXIT situation and he concludes that the worst outcome for the conservatives would be a close race and the BREMAIN has a slight 51% win. Eventually, the EU experiment will fail and these guys will have trouble in power. A BREXIT win outright will save them.
However his main emphasis in his paper is the plight of the European banks and their zombie non performing loans. Due to the huge Target 2 imbalances, the banks and debtors of Italy, Portugal, Spain, and Belgium cannot possibly repay German banks. This is ready to burst and the bank with all its derivatives, Deutsche bank will blow up with them.
( Alasdair Macleod)
iii)Central banks are ready for massive intervention if Britain chooses independence:
( Bloomberg/Black and Campbell/GATA)
iv)A good commentary today from Chris Powell who comments on Thomas Jordan’s interview where he states that central banks will intervene if BREXIT is a reality.
( Chris Powell/GATA)
10.USA STORIES WHICH MAY INFLUENCE THE PRICE OF GOLD/SILVER
i)The minimum wage increase at WalMart is causing more trouble for the economy has hundred more are to be fired:
( WalMart/zero hedge)
ii)This is a biggy! Bullard goes full dove from uber hawk and refuses to give long term prognosis:
( zero hedge)
iii)Then Jeff Gundlach warns us all:
( Gundlach/zero hedge)
Let us wrap up the week with this offering from Greg Hunter of USAWatchdog
(courtesy Greg Hunter/USWatchdog