Huge rise in OI for both gold and silver necessitated a banker raid today/Silver OI now at multi year highs at 179900 contracts/USA:Yen cross falls below 110. Yen strength killing the yen carry traders as well as Japanese banks. Kuroda will no doubt act tonight when he wakes up/Another headache for China has Peer to Peer loans are becoming non performing/Europe has its headaches as well as bonds are disappearing due to traders front running the ECB/ The euro is rising causing lower earnings for our European companies and banks/Pfizer walks away from Allergan deal causing 100 million losses for the banks/Beige book out and it signals extreme dovish by most of the voters and the key section highlights global risks: Hint China
by Harvey Organ
Harvey Organ’s Blog
At the gold comex today, we had a good delivery day, registering 142 notices for 14,200 ounces for gold,and for silver we had 0 notices for nil oz for the non active April delivery month.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 212.603 tonnes for a loss of 90 tonnes over that period.
In silver, the open interest ROSE by 2065 contracts UP to 179,913 as the silver price was UP 18 cents with respect to yesterday’s trading. In ounces, the OI is still represented by .899 billion oz or 128% of annual global silver production (ex Russia ex China).
In silver we had 0 notices served upon for NIL oz.