Harvey Organ’s Daily Gold & Silver Report – 2016.03.03

Gold breaks through the $1250 dollar barrier/Another huge 2.37 tonnes of gold added to the GLD/We finally had a good deposit of 2.73 million oz added to the SLV/It seems that the 17.4 million oz of silver standing for delivery is resolute/they do not want a fiat paper settlement/also the number of gold oz standing increases/Ukraine bans free speech/Brazil’s manufacturing PMI plummets to depressionary levels (down to 39)/JPMorgan pounds on the table to be underweight stocks and then Buy gold/Court grants immunity to a key witness in Hillary’s email scandal/USA service sector in turmoil as well as factory orders/The 10 yr repo rate at lowest ever as collateral disappears

by Harvey Organ
Harvey Organ’s Blog

[…] At the gold comex today, we had a strong delivery day, registering another 87 notices for 8700 ounces and for silver we had 186 notices for 930,000 oz for the active March delivery month.

Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 211.15 tonnes for a loss of 92 tonnes over that period.

In silver, the open interest rose by 1475 contracts up to 163,768. In ounces, the OI is still represented by .819 billion oz or 117% 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 186 notices served upon for 930,000 oz.

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