Harvey Organ’s Daily Gold & Silver Report – 2016.05.12

GLD adds another whopping 3.27 tonnes to inventory despite gold whacking today/Silver OI near its all time record OI rising to 206,438 contracts/gold OI rises by 6113 contracts to 585,890 and this necessitates a raid today and another most likely tomorrow/BREXIT DEBATE NOW TIED/Brazil’s Roussef is now suspended/Venezuela is now in utter chaos and total anarchy/Kremlin has 20,000 of Hillary Clinton emails and they do not know what to do with them: Judge Napolitano/ Norstrom plummets with awful results and terrible revenue guidance forward/Glencore has 30% of June Brent oil

by Harvey Organ
Harvey Organ’s Blog

[…] As soon as our crooked bankers saw the likes of the open interest in gold and silver they knew that they had to whack despite the awful news on the jobless front today. We are now very close at an all time record high OI for silver and yet the price is 32.00 less per oz. Generally, the CFTC state that these things correct themselves. We have now had 5 years of high silver OI with a low price and that destroys their mantra which is in bold as you enter the CFTC offices, namely that the futures market is a price discovery mechanism and that future price discovery of any commodity will lead to the correct price. Obviously our bought and paid for regulators have destroyed their motto with respect to the precious metals.

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