Gold and Silver SOUTHBOUND! – Harvey Organ

www.silverdoctors.com

For the August gold contract month,  we had a huge 1019 notices served upon for 101,900 ounces. The total number of notices filed so far for delivery:  10,881 for 1,088,100 oz or  tonnes or 33.844 tonnes

In silver we had 63 notices served upon for 315,000 oz. The total number of notices filed so far this month:  209 for 1,045,000 oz.

Yesterday I wrote the following:

 

“Tomorrow is the FOMC report on the job gains in the uSA for last month.  Even though the report has  fraudulent data in it, many hedge funds have their eyes glued ready to sell or buy within seconds of its release especially gold and silver.So you are warned: gold and silver will be quite volatile tomorrow. The last jobs report was awful and I do not think that they will have two consecutive bad reports. They love putting lipstick on this economic pig”

The boys did not disappoint me today.The raid was necessary due to the high OI in the total comex silver plus the OI for the coming September contract.  Also more gold is standing for the front month of August. To date: 40.2 tonnes of gold is standing.

 

Let us have a look at the data for today

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In silver, the total open interest ROSE BY A SMALLISH 342 contracts UP to 223,484 AND CLOSE AN ALL TIME NEW ALL TIME RECORD EVEN THOUGH THE  PRICE OF SILVER FELL  BY 3 CENTS WITH YESTERDAY’S TRADING.In ounces, the OI is still represented by just over 1 BILLION oz i.e. 1.117 BILLION TO BE EXACT or 159% of annual global silver production (ex Russia &ex China).

In silver we had 63 notices served upon for 315,000 oz

In gold, the total comex gold ROSE BY A CONSIDERABLE 6,583 contracts as the price of gold ROSE by $4.80 yesterday. The total gold OI stands at 590,494 contracts.

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

GLD
we had a huge change to our gold inventory, a monstrous deposit of 10.69 tonnes of gold (with the price down $22.40) at the GLD . /

Total gold inventory rest tonight at: 980.34 tonnes

SLV

we had no changes in the SLV, the SILVER INVENTORY AT THE SLV

rests at 350.815 million oz.