Harvey Organ’s Daily Gold & Silver Report – 2016.05.24

Again the number of tonnes of gAnother whoppping 3.29 tonnes of gold added to the GLD and again the price dropped!/G7 meeting in Sendai Japa, will not allow Japan to devalue its yuan..this will be harmful to the markets/China devalues a small amount/Terrible PMI numbers for Japan, China , Europe and the USA as global trade contracts/Erodgan now has absolute power;Europe greets this with negation of visa free travel and that puts the migrants free flowing throughout Europe again/Russia adds another 15.6 tonnes to its official reserves this month

by Harvey Organ
Harvey Organ’s Blog

[…] i) the May gold contract is a non active contract. Yet we started the month with 5.67 tonnes of gold standing and it has increased every single day and today sits at 6.68 tonnes of gold standing:

The amount standing for gold at the comex in May is simply outstanding at 6.79941 tonnes. The previous May 2015, we had only .08 tonnes standing so you can certainly witness the difference as the demand for gold by investors/sovereigns is on a torrid pace. This makes the excitement for June gold that much more intense as more players are refusing fiat and demanding only physical metal. I will be reporting daily as to how which is standing for delivery through the active month of June. June is the second largest delivery month after December.

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