Harvey Organ’s Daily Gold & Silver Report – 2016.05.17

Comex May has 6.5 tonnes of gold standing which is extremely high and bodes well for June gold deliveries/GLD again has a huge deposit of 4.76 tonnes into inventory/SLV remains constant/Today we had a monstrous notice of 1021 contracts or 102,100 oz which is outstanding for May/Comex gold OI rises to 596,500 contracts/Silver rises to 206,214 contracts and at record levels/A German bank downgrades Deutsche bank stating that its problems are insurmountable!/Opposition leader will defy emergency decrees: country in utter chaos

by Harvey Organ
Harvey Organ’s Blog

[…] You will probably note that gold is always much stronger in the physical time zones as opposed to the paper time zone. The Chinese fix at around 12 midnight EST provides strength for gold and silver as actual metal is fixed in price instead of the complex and dubious London fix. However the Chinese fix is certainly mustering strength for gold in the wee hours of the morning. Then at 10 -12 noon we have the London afternoon fix and again we see gold/silver higher. Once London is put to bed, the crooks whack OUR PRECIOUS METALS lowering the price until we start the cycle all over again.

The amount standing for gold in May is simply outstanding at 6.50 tonnes. The previous May 2015, we had only .08 tonnes so you can certainly witness the difference as the demand for gold by investors/sovereigns is on a torrid pace.

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