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Oct 16
harveyorganblog.com / by harveyorgan / October 16, 2015
Good evening Ladies and Gentlemen:
Here are the following closes for gold and silver today:
Gold: $1183.60 down $4.30 (comex closing time)
Silver $16.10 down 5 cents.
In the access market 5:15 pm
Gold $1176.84
Silver: $16.04
First, here is an outline of what will be discussed tonight:
At the gold comex today, we had a very poor delivery day, registering 50 notices for 5000 ounces Silver saw 0 notices for nil oz.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 208.52 tonnes for a loss of 95 tonnes over that period.
In silver, the open interest rose by a HUGE 2325 contracts as silver was up by only 5 cents yesterday. I guess in silver nobody of importance wants to leave the arena. The total silver OI now rests at 167,615 contracts In ounces, the OI is still represented by .838 billion oz or 120% of annual global silver production (ex Russia ex China).
In silver we had 0 notice served upon for nil oz.
In gold, the total comex gold OI rose to 458,400 for a gain of 6698 contracts. We had 50 notices filed for 5000 oz today.
We had a huge decrease in tonnage at the GLD to the tune of 6.25 tonnes / thus the inventory rests tonight at 700.00 tonnes. The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold. It sure looks like 670 tonnes will be the rock bottom inventory in GLD gold. It looks to me that China has taken the last amounts of physical gold from the GLD. I guess the only place left for China to receive physical gold will be the FRBNY and the comex. In silver, we had no changes in silver inventory at the SLV / Inventory rests at 315.152 million oz.
We have a few important stories to bring to your attention today…
The post OCT 16 appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/10/16/oct-16/
