MARCH 26/HUGE WITHDRAWAL AGAIN FROM GLD OF 5.97 TONNES HEADED FOR SHANGHAI/ SAUDI ARABIA AND EGYPT BOMBARD YEMEN IN A PROXY WAR
Good evening Ladies and Gentlemen:
Here are the following closes for gold and silver today:
Gold: $1205.10 up $7.80 (comex closing time)
Silver: $17.12 up 14 cents (comex closing time)
In the access market 5:15 pm
Gold $1203.55
Silver: $17.08
Gold/silver trading: see kitco charts on the right side of the commentary.
Following is a brief outline on gold and silver comex figures for today:
The gold comex today had a poor delivery day, registering 1 notice served for 100 oz. Silver comex registered 129 notices for 645,000 oz .
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 248.27 tonnes for a loss of 55 tonnes over that period. Lately the removals have been rising!
In silver, the open interest fell by 589 contracts, due to short covering, as Wednesday’s silver price was up by 1 cent. The total silver OI continues to remain extremely high with today’s reading at 172,070 contracts. The front month of March fell by 171 contracts to 312 contracts. We are still close to multi year high in the total OI complex despite a record low price. This dichotomy has been happening now for quite a while and defies logic. There is no doubt that the silver situation is scaring our bankers to no end.
We had 129 notices served upon for 645,000 oz.
In gold we again have a total collapse of OI as we enter the next active delivery month of April . The total comex gold OI rests tonight at 416,312 for a whopping loss 17,455 contracts. With June gold almost equal to April gold in price, it just does not make sense why so many would liquidate their positions.Today is options expiry. Surprisingly we had 1 notice served upon for 100 oz.
Today, we had a huge withdrawal of 5.97 tonnes at the GLD/ Gold Inventory rests at 737.24 tonnes
In silver, /SLV we had no changes in silver inventory at the SLV/Inventory, at 325.323 million oz
We have a few important stories to bring to your attention today…
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