Harvey Organ’s Daily Gold & Silver Report – 2016.05.10

Comex gold and silver open interest hardly move southbound despite the massive raid yesterday/GLD inventory rises by 2.38 tonnes despite the lower gold price/Chinese onshore and offshore yuan decrease in value sending another message to the USA not to raise rates/In Brazil the impeachment process is back on but Rousseff may use the courts to block this latest attempt/USA premiums in Obamocare set to increase from 20 to 30% next year

by Harvey Organ
Harvey Organ’s Blog

[…] Our banker friends already knew the true OI reading for today and they saw very little liquidation in both the gold comex and silver comex. The decision was unanimous: another raid. They tried to get gold below the 1255 level but failed as it quickly recovered and it closed at 1260.00. However in the access market once it was revealed that there truly was no liquidation, gold comex longs seemed to be invigorated and elevated gold into the $1267 area and silver to $17.14. Our banker friends are regrouping tonight and burning the midnight oil planning their next criminal move!

Let us have a look at the data for today.

At the gold comex today we had a GOOD delivery day, registering 100 notices for 10,000 ounces for gold,and for silver we had 138 notices for 690,000 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 230.63 tonnes for a loss of 72 tonnes over that period.

Continue Reading at HarveyOrganBlog.com…