Harvey Organ’s Daily Gold & Silver Report – 2016.04.26

Comex silver hits its all time open interest high at 206,000 contracts despite a low price/China continues to have USA dollar outflows: IIF expects this yr almost 600 billion USA dollarrs will leave Chinese shores/Chinese steel and Iron ore prices falter badly in China/Richmond mfg fed index falls badly as does USA consumer confidence/Apple and Twitter disappoint badly and thus the markets will open badly tomorrow

by Harvey Organ
Harvey Organ’s Blog

[…] Today we got a little surprise in that gold rebounded from its lows to close at $1243.20 at comex closing time and silver was up 11 cents at $17.11 The comex options expiry had little effect on both metals. In silver, we now have an all time high in silver OI at 206,037 which represents 1.03 billion oz. Generally when you get a record high OI, you also have high prices for your commodity. In silver in blows my mind that we have a record OI and a low price of silver. It shows you the damage that the bankers inflicted upon us.

Please remember that even though comex options have expired we still have London’s LBMA and OTC to contend with. They expire on Friday morning.

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