Silver Again Has A Huge 2.146 Million Oz “deposit” Into Slv

by Harvey Organ, HarveyOrganblog:

Good evening Ladies and Gentlemen:

Gold: $1,228.40 up $10.40 (comex closing time)

Silver 15.12 up 18 cents

In the access market 5:15 pm

Gold $1231.50

silver: 15.15

Today the silver open interest continues to rise, hitting 177,848 contracts despite silver’s fall yesterday. We now have had 5 years of continue high OI with a low price. This is totally unheard. Generally when you have the above situation, it generally resolves itself. But not silver. We had heard that silver deliveries are being delayed in London and also they are having an extreme problem in locating metal. Something is up in silver!

Let us have a look at the data for today.

At the gold comex today, we had a good delivery day, registering 145 notices for 14,500 ounces for gold,and for silver we had 0 notices for nil oz for the non active April delivery month.

Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 212.89 tonnes for a loss of 90 tonnes over that period.

In silver, the open interest ROSE by 826 contracts UP to 177,848, despite the fact that the silver price was down 10 cents with respect to yesterday’s trading. SOMETHING MUST BE UP ON THIS! In ounces, the OI is still represented by .889 billion oz or 127% of annual global silver production (ex Russia ex China).

In silver we had 0 notices served upon for NIL oz.

In gold, the total comex gold OI fell by 1962 contracts down to 470,842 contracts as the price of gold was DOWN $4.20 with yesterday’s trading.(at comex closing).

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