Harvey Organ’s Daily Gold & Silver Report – 2016.03.15

Gold and silver whacked again as open interest did not decline as much as bankers desired/China signals that it may introduce a tax on foreign exchange transactions as they try and repel shorters like Kyle Bass and George Soros/Japan signals that it may end NIRP as it is damaging to its banks/Russia does a partial withdrawal from Syria/Retail sales suffers a big 2 month fall/Inventory to sales at record 1.4 indicating a recession/Valeant shares collapse on poorer outlook/Brazilian real tumbles as Rousseff puts indicted LULA in cabinet

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 8 notices for 40,000 oz for the active March delivery month.

Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 211.83 tonnes for a loss of 91 tonnes over that period.

In silver, the open interest fell by only 892 contracts down to 168,235 with silver down by 9 cents yesterday. In ounces, the OI is still represented by .841 billion oz or 120% of annual global silver production (ex Russia ex China).

In silver we had 40 notices served upon for 200,000 oz.

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