Silver SOARS On Options Expiration!?! – Harvey Organ

睇下銀價期權結算後是否繼續向上行 ?

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The June gold contract is an active contract. Last  night we had a fair sized 79 notices filed last night, for 7900 oz to be served upon today.  The total number of notices filed in the first 19 days is enormous at 15,600 for 1,560,000 oz.  (48.522 tonnes)

ii) in silver we had 0 notice filed for nil oz..  Total number of notices served  in the 19 days: 616 for 3,080,000 oz

We now have only one day left before first day notice tomorrow. Options expiry on the OTC and LBMA contracts expire around noon tomorrow. It is quite something that gold/silver have been holding up quite well in this last week of June which is options expiry week.  So expect a little weakness in the morning and then when options expiry is over, gold/silver will again rise northbound.  Silver will again try  its luck against the $18.50 barrier.

Let us have a look at the data for today

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Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 288.78 tonnes for a loss of 14 tonnes over that period
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In silver, the total open interest fell by a considerable 2099 contracts down to 211,396, BUT STILL CLOSE TO AN  ALL TIME RECORD. THE OI DECLINED 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. 1.057 BILLION TO BE EXACT or 151% of annual global silver production (ex Russia &ex China)
In silver we had 0 notices served upon for NIL oz.

In gold, the total comex gold OI FELL by a HUGE 5,736 contracts DOWN to 613,528 as the price of gold was DOWN $7.20 with YESTERDAY’S trading (at comex closing). 

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With respect to our two criminal funds, the GLD and the SLV:

GLD

A big change in gold inventory. a huge deposit of 2.67 tonnes into the gold inventory/
Total gold inventory: 950.05 tonnes

SLV

a deposit of 760,000 oz into the SLV inventory

Inventory rests at 333.544 million oz.

First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver fell by 2099 contracts down to 211,396  DESPITE THE FACT THAT THE price of silver was UP BY  10 CENTS with YESTERDAY’S trading. The gold open interest FELL by a HUGE 5,736  contracts DOWN to 613,528 as the price of gold FELL by $7.20 YESTERDAY.

(report Harvey).