Harvey Organ’s Daily Gold & Silver Report – 2016.03.08

No changes in inventory at GLD and SLV/The repo pool in the USA bond market breaks down as yields plummet and failures to deliver increase dramatically/Citibank warns of a huge drop in revenue for this quarter

by Harvey Organ
Harvey Organ’s Blog

[…] At the gold comex today, we had a poor delivery day, registering 1 notice for 100 ounces and for silver we had 7 notices for 35,000 oz for the active March delivery month.

Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 212.03 tonnes for a loss of 91 tonnes over that period.

In silver, the open interest fell by 1287 contracts down to 168,368. In ounces, the OI is still represented by .840 billion oz or 120% 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 7 notices served upon for 35,000 oz.

In gold, the total comex gold OI rose by a huge 6507 contracts to 498,172 contracts despite the fact that the price of gold was down $6.70 with yesterday’s trading.(at comex closing)

Continue Reading at HarveyOrganBlog.com…