Harvey Organ’s Daily Gold & Silver Report – 2016.02.29

Another paper addition of 2.08 tonnes of gold enter the GLD/Germany must be upset: no gold leaves the FRBNY for its repatriation of gold last month/In Japan banks are refusing to loan to one another/China last night devalues again by quite a bit/China again cuts it’s RRR/A rather large 2.14 tonnes standing in our non active month of March/19 million oz standing for silver/Europe deflating again so expect another cut in its NIRP and an increase in QE/G20 meeting in Shanghai a complete bust/Mexico’s big oi giant posts a monstrous 32 billion loss/Dallas Fed” “USA is in a complete freefall!”Another SEC investigation into Valeant

by Harvey Organ
Harvey Organ’s Blog

[…] At the gold comex today, we had a GOOD delivery day, registering 1 notice for 100 ounces for February. Thus the month of February ends up with 256,900 oz delivered upon for 7.99 tonnes of gold. Silver saw no more notices for February and surprisingly only 5 notices for 20,000 oz for the active March delivery month. They must have problems sourcing silver!

Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 211.05 tonnes for a loss of 92 tonnes over that period.

In silver, the open interest fell by 4,243 contracts down to 169,013. In ounces, the OI is still represented by .845 billion oz or 121% of annual global silver production (ex Russia ex China). Generally as we go into an active delivery month the liquidation is much bigger.

In silver we had 5 notice served upon for 25,000 oz.

Continue Reading at HarveyOrganBlog.com…