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Portugal back in the penalty box/gold and silver rise/silver open interest remains highly elevated
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
harveyorgan.blogspot.com / Tuesday, April 16, 2013
Good evening Ladies and Gentlemen:
Gold closed up $21.60 to $1386.80 (comex closing time). Silver rose by 11 cents to $23.62 (comex closing time).
In the access market at 5 pm:
gold: $1372.90
silver: $23.39
Today we had a little breather from gold/silver attacks. But rest assured that tomorrow will probably bring another attack as the gold/silver shares were waning badly in the day as well as silver. This is vintage gold cartel as they telegraph their moves to fellow criminal banking organizations.
At the comex, the open interest in silver fell slightly to 162,414 contracts despite the massive raid on Monday. The open interest on the gold contract surprisingly fell by only 3,307 contracts to 426,722. So much for gold and silver liquidation. The total amount of gold ounces standing for April rose to 34.65 tonnes and silver also had an increase to 3.535 million oz standing.
The OI for silver remained elevated again today despite the huge loss in price yesterday, one must believe that only a sovereign (maybe China) could withstand that much pain. The price of silver has declined from $35.00 to $ 23.00 with open interest rising. The loss has to be gigantic and only a sovereign could be that stoic.
Today we have a superb audio of Kingworld news Eric King discussing the gold/silver ambush on Friday and Monday. Andrew states categorically that London is out of metal and thus the reason for the smash.
Mark Grant gives another great commentary on Portugal that you must read.
We will go over these and other stories but first…………………….
Let us now head over to the comex and assess trading over there today.
Thanks to BrotherJohnF
2013-04-16 18:01:52
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