Good evening Ladies and Gentlemen:
Gold: $1,355 DOWN $1.60 (comex closing time)
Silver 20.27 UP 21 cents
In the access market 5:15 pm
Gold: 1355.50
Silver: 20.30
.
And now for the July contract month
For the July gold contract month, we had 18 notices served upon for 1800 ounces. The total number of notices filed so far for delivery: 4,065 for 406,500 oz or 12.643 tonnes
In silver we had 55 notices served upon for 275,000 oz. The total number of notices filed so far this month for delivery: 1110 for 5,550,000 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 296.777 tonnes for a loss of 6 tonnes over that period
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In silver, the total open interest ROSE BY 2594 contracts UP to 211,873, AND STILL CLOSE TO AN ALL TIME RECORD. THE OI ROSE IN SYMPATHY TO THE PRICE OF SILVER RISING BY 26 CENTS IN FRIDAY’S TRADING.In ounces, the OI is still represented by just over 1 BILLION oz i.e. 1.059 BILLION TO BE EXACT or 151% of annual global silver production (ex Russia &ex China).
In silver we had 55 notices served upon for 275,000 oz.
In gold, the total comex gold ROSE BY 1108 contracts with gold’s FALL in price on FRIDAY to the tune of $3.50.Since most of the gain in price occurred after the comex closed on Friday expect tomorrow’s OI to be also higher. The total gold OI stands at 655,955 contracts, CLOSE TO THE all time record SET last THURSDAY.(656,000 contracts)
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With respect to our two criminal funds, the GLD and the SLV:
GLD
we had non changes in gold inventory./
Total gold inventory rest tonight at: 981.20 tonnes
SLV
NO CHANGE IN SILVER INVENTORY TO THE SLV
Inventory rests at 341.453 million oz.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver ROSE by 2,594 contracts UP to 211,873 as the price of silver ROSE BY 26 cents with FRIDAY’S trading. The gold open interest rose by 1102 contracts up to 655,955 DESPITE the price of gold FALLING by $3.50 ON FRIDAY. The comex gold OI is near the all time record level set yesterday.
(report Harvey).
2 a) Gold/silver trading overnight Europe, Goldcore
(Mark OByrne/zerohedge
3. ASIAN AFFAIRS
i)Late SUNDAY night/MONDAY morning: Shanghai closed UP 6.82 POINTS OR 0.23%/ /Hang Sang closed UP 316.33 OR 1.54%. The Nikkei closed UP 601.83 POINTS OR 3.98% Australia’s all ordinaires CLOSED UP 1.92% Chinese yuan (ONSHORE) closed DOWN at 6.6897 /Oil FELL to 44.88 dollars per barrel for WTI and 46.16 for Brent. Stocks in Europe ALL IN THE GREEN. Offshore yuan trades 6.6890 yuan to the dollar vs 6.6897 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS QUITE A BIT
REPORT ON JAPAN SOUTH KOREA AND CHINA
a) REPORT ON JAPAN
Here it comes: Helicopter money is to begin in Japan:
( zerohedge)
b) REPORT ON CHINA
NONE TODAY
4 EUROPEAN AFFAIRS
i)VisualCapitalalist’s Jeff Desjardins gives a great analysis on how the world’s largest derivative player will bring the whole deck of cards down
( zerohedge/Jeff Desjardins/VisualCapitilalist)
ii)a Deutsche bank’s chief economist now calls for a 150 billion euro bailout of the European banks. Note: bailout and not bail in.
( zero hedge)
iib)Trouble ahead: CoCo bonds( hybrid bond-equity) of Deutsche bank soar to 11.5% yield as its a capital base falls below required levels:
( Sanders/Confounded Interest blog/zerohedge)
iii)Sunday night: The Bank of England is now prepared to provide a flush fund to bail out all of those gated property funds
( zero hedge)
iv)The pound surges as Leadsom quits leaving May as the sole contender for the Prime Minister’s job:
( zero hedge)
v)Then: Theresa May confirmed as new leader of the Tory party and most likely its next Prime Minister:
( zero hedge)
vi)The chance for a bailout for Italian banks has just blown up in smoke. It will be a bail in and that would be bad for bondholders and for moms and pops that are the majority owner of much of this non performing debt”
( zero hedge)
vi) Civil unrest in Berlin:
(zerohedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
Relations between the USA and Russia are deteriorating rapidly
( zero hedge)
6.GLOBAL ISSUES
We now have 13 trillion dollars worth of bonds in negative territory out of a total of 40 trillion. What would happen if we got a 1% spike in rates? What pain would then inflict? Answer: 2.4 TRILLION dollars worth of losses to Global banks;
(courtesy zero hedge)
7.OIL ISSUES
none today
8.EMERGING MARKETS
none today
9. PHYSICAL STORIES
i)Bill Murphy discusses Friday’s upside outside day reversal in gold and silver:
( GATA)
ii)Government debt is worthless as these governments can never repay their debt. Even worse, they cannot repay the interest. The only safe vehicle is gold and silver:
( Kingworldnews/Egon Von Greyerz)
10.USA STORIES WHICH MAY INFLUENCE THE PRICE OF GOLD/SILVER
i)Bank of America finally admits that there is no hope of a profits recovery as David Stockman has outlined to us on several occasions:
( zero hedge/Bank of America)
ii)Deutsche bank expects a complete collapse in the monthly job growth
( Deutsche bank/zero hedge)
iii)Janet Yellen’s favourite indicator of job growth; the Fed labour Market condition index: tumbles for the 6th straight month! So much for that phony jobs report released on Friday.
( zero hedge)
iv)And you thought that the investigation on Hillary Clinton was over with respect to the email scandal. Guess again: Congress will now investigate with the help of the FBI on whether Clinton lied to the House on her 11 hr testimony:
( zero hedge)