Brokers raise gold/silver margins and thus a reason today for gold and silver’s initial fall: however both recover during the day/Rome has an anti-establishment, anti Euro Mayor elected yesterday/Nigeria has now entered hyperinflation as the Nira drops 30%/Some clown breaks into the Central Bank of Venezuela/Caterpiller sales drop for the 42nd straight month
by Harvey Organ
Harvey Organ’s Blog
[…] The June gold contract is an active contract. Last night we had a poor sized 15 notices filed Fri night, for 1500 oz to be served upon Monday. The total number of notices filed in the first 13 days is enormous at 15,156 for 1,515,600 oz. (47.14 tonnes)
ii) in silver we had 80 notices filed for 400,000 oz.. Total number of notices served in the 13 days: 489 for 2,445,000 oz
Today, both gold and silver held another vicious attack. The bankers called on their broker friends to raise margin levels on gold and silver contracts and their excuse was the volatile conditions because of the British vote on whether to leave the EU or not.