Harvey Organ’s Daily Gold & Silver Report – 2016.06.21

Yellen speaks and thus the signal to whack gold and silver/Surprisingly despite increase margins, the silver open interest skyrockets to its highest ever OI at 201,266 contracts/Brexit vote up in the air with conflicting polls/Japan’s exports fall by 11% as the iMF tries to convince Japan to force labour rates up/Large Brazilian Telecom OI goes bust and now in bankruptcy protection

by Harvey Organ
Harvey Organ’s Blog

[…] The June gold contract is an active contract. Last night we had a good sized 64 notices filed last night, for 6400 oz to be served upon today. The total number of notices filed in the first 14 days is enormous at 15,220 for 1,522,000 oz. (47.34 tonnes)

ii) in silver we had 0 notices filed for nil oz.. Total number of notices served in the 14 days: 489 for 2,445,000 oz

Today, both gold and silver could not withstand another vicious attack. Generally when Yellen speaks they always whack. Yesterday,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. The gold/silver equity shares held up pretty good.

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