As expected a huge whacking of gold and silver today/Japan’s yield curve inverts at front and back of curve/10 yr Japanese bond yield -.114%/USA 10 yr and USA 30 yr bond yields plummet causing havoc among USA banks as spread lowers/British pound falters as new polls puts BREXIT as probable/Credit Suisse to fire 2,000 more workers as they cite another rogue trader/Petrobras records a huge 4th quarter loss/big trouble for Brazil’s economy/USA’s Bullard signals that he wishes a rate rise in April
by Harvey Organ
Harvey Organ’s Blog
[…] This morning, on CNBC there was talk of a mini revolt at the Fed with some members who want to raise rates immediately as opposed to Yellen who issues to wait. Why was only Esther George, the lone dissenter…what about the others? Besides, the raising of rates is a joke in that they do not withdraw any liquidity from the market. The last rate hike was done by decree only, they did not remove the punchbowl. To me this is nothing but a charade!
Let us have a look at the data for today.
At the gold comex today, we had a poor delivery day, registering 1 notice for 100 ounces and for silver we had 85 notices for 425,000 oz for the active March delivery month.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 212.48 tonnes for a loss of 90 tonnes over that period.