Harvey Organ’s Daily Gold & Silver Report – 2016.03.10

Gold and Silver Soar After an Outside Day Reversal/gold Rises to $1272.60 up $15.60/silver Rises up 19 Cents to $15.55/surprisingly the Open Interest on Silver Hardly Changed Despite the Huge Raid/two Huge Stories to Bring to Your Attention: First, China Floats a Story That it May Wish to Nationalize Its Non Performing Loans I.e. the Banks Take That Debt and Convert Into Equity/ They Wish to Do This to Increase More Lending!!/second Story: the Failure of Draghi’s New Bazooka”increased Nirp/increase Qe by 20 Billion Euros and More Qe by Buying Corporate Debt

by Harvey Organ
Harvey Organ’s Blog

[…] Today the bums had gold and silver in their sights as they whacked gold down to $1239.65 and silver to $15.22 at 8 am with the Draghi announcement of an increase in NIRP and more QE. Then gold had a terrific outside day reversal climbing to a high of $1273.00 (and it closed at $1272.60). Silver finished up 19 cents to $15.55

At the gold comex today, we had a poor delivery day, registering 0 notices for nil 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 212.04 tonnes for a loss of 91 tonnes over that period.

In silver, the open interest fell by only 253 contracts to 169,622 despite the massive raid orchestrated by our crooks. In ounces, the OI is still represented by .849 billion oz or 122% of annual global silver production (ex Russia ex China).

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