GLD withdraws 1.19 tonnes from its inventory today/Jobs report tomorrow/China again places yuan higher which tramples the shorts/Off shore China company Guosen, sub. of state owned company, defaults on loan/Brazil closer to default as it records a huge 10.7% deficit to GDP
by Harvey Organ
Harvey Organ’s Blog
Tomorrow is the FOMC report and we always see huge volatility on this report. The April report for March generally sees a lower plug for seasonal adjustments so we might see a better atmosphere for gold and silver. Also options expiry is over so we may have a good day in our precious metals.
Let us have a look at the data for today.
At the gold comex today, we had a poor delivery day, registering 58 notices for 5800 ounces on first notice day for gold,and for silver we had 2 notices for 10,000 oz for the active March delivery month.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 213.10 tonnes for a loss of 90 tonnes over that period.