Despite the shellacking of gold, the GLD surprisingly adds 2.08 tonnes to its inventory/gold and silver fall today/China devalues greatly sending a strong message to the USA not to raise rates/Japan to initiate the helicopter route to supply free cash to poor citizens/30 yr uSA bond yield plummets/Atlanta Fed lowers 2nd quarter GDP to only 1.4%
by Harvey Organ
Harvey Organ’s Blog
[…] Let us have a look at the data for today.
At the gold comex today, we had a poor delivery day, registering 12 notices for 1200 ounces and for silver we had 0 notices for nil oz for the active March delivery month.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 212.17 tonnes for a loss of 91` tonnes over that period.
In silver, the open interest FELL by only 3863 contracts DOWN to 171,913 despite the fact that the silver price was whacked by 61 cents with respect to yesterday’s trading . In ounces, the OI is still represented by .860 billion oz or 123% of annual global silver production (ex Russia ex China).