20 Tonnes of Gold Standing For Delivery!! – Harvey Organ

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ANOTHER RAID BY THE BANKERS AS SILVER OI IS STILL EXTREMELY HIGH/FOR GOLD THE OI CONTRACTS BELOW 600,000 TO 597,411 AND THAT WOULD BE BULLISH !!/JAPAN TO UNLEASH ANOTHER 6 TRILLION YEN QE: MARKETS WERE DISSATISFIED AS THEY WANTED MORE/PORTUGAL NOW ENTERS THE ARENA WITH BANKING PROBLEMS /SURPRISINGLY FOR THE 3RD MONTH IN A ROW, ENGLAND IMPORTED 68 TONNES OF GOLD..NO WONDER THEY ARE SCRAMBLING!!  CHINA’S HIGH GRADING OF GOLD DEPOSITS TO NOW HAUNTING THEM/CATERPILLAR SALES DECLINE FOR 43RD CONSECUTIVE MONTH 

In the access market 5:15 pm

Gold: 1316.00 (THE CROOKS DROVE IT DONE IN THE ACCESS MARKET)
Silver: 19.58

For the July gold contract month,  we had ANOTHER HUGE 54 notices served upon for 5400 ounces. The total number of notices filed so far for delivery:  6445 for 644500 oz or 20.046 tonnes

In silver we had 20 notices served upon for 100,000 oz.  The total number of notices filed so far this month for delivery:  2279 for 11,395,000 oz

Friday night,   I took a look at the daily bulletin which is an estimated OI and then I knew the reason for the raid that was forthcoming today!

1. the high open interest for silver (ESTIMATED at 222,000)
2. the front July contract month in gold saw a huge gain in an amount standing. (20.189 TONNES). Now we have over 20 tonnes standing in this a non active month.It sure looks like August will be exciting.

We are now entering options expiry month for gold and silver:
i)The comex options expiry on Tuesday July 26.
ii)The OTC options in London expire Friday at noon July 29.

So expect downward drafts in gold and silver trading until both of these contracts expire.

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 311.698 tonnes for a gain of 9  tonnes over that period
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In silver, the total open interest FELL BY ONLY 813 contracts DOWN to 220,433, AND CLOSE TO AN NEW ALL TIME RECORD EVEN THOUGH THE  PRICE OF SILVER FELL CONSIDERABLY BY 12 CENTS IN FRIDAY’S TRADING.In ounces, the OI is still represented by just over 1 BILLION oz i.e. 1.102 BILLION TO BE EXACT or 157% of annual global silver production (ex Russia &ex China).

In silver we had 20 notices served upon for 100,000 oz.

In gold, the total comex gold FELL BY A CONSIDERABLE 10,042 contracts as the price of gold FELL in price FRIDAY to the tune of $7.40. The total gold OI stands at 597,411 contracts.The higher contango price seems to be having an effect as holders prefer to liquidate rather than roll.  The higher contango makes no sense with libor at extreme low levels and thus the spread between months is higher than it ought to be.

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

GLD
we had A HUGE WITHDRAWAL  in gold inventory TO THE TUNE OF 4.45 TONNES. /

Total gold inventory rest tonight at: 958.69 tonnes

SLV

we had no changes into the SILVER INVENTORY TO THE SLV

Inventory rests at 348.580 million oz.