Gold Breaks Through $1264 And Finishes The Comex Session At $1267.75/silver Also Performs Admirably Rising 21 Cents To $17.33

GOLD OPEN INTEREST RISES BY 3,000 CONTRACTS FOR THE ENTIRE COMPLEX WITH YESTERDAY’S $2.90 GAIN

from Harvey Organ:

HOWEVER THE BIG STORY IS THE HUGE AMOUNT OF GOLD OI STANDING FOR JUNE!/HUGE CHINESE SOVEREIGN INTERVENTION LAST NIGHT IN THE CURRENCY MARKETS/WALL STREET THROWS IN THE TOWEL ON OIL AS IT DOES NOT LIKE THE FUNDAMENTALS

In silver, the total open interest FELL BY 1,585 contract(s) DOWN to 201,865 DESPITE THE RISE IN PRICE OF SILVER THAT TOOK PLACE WITH YESTERDAY’S TRADING (UP 9 CENT(S). IT IS OBVIOUS THAT WE ARE GETTING SOME BANKER SHORT COVERING IN CONJUNCTION WITH BANKER DELTA HEDGING. In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.0099 BILLION TO BE EXACT or 144% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 21 NOTICE(S) FOR 105,000 OZ OF SILVER

In gold, the total comex gold ROSE BY 2983 contracts WITH THE RISE IN THE PRICE OF GOLD ($2.95 with YESTERDAY’S TRADING). The total gold OI stands at 473,848 contracts. SO FAR WE HAVE NOT HAD OUR USUAL OBLITERATION OF OPEN INTEREST AS WE ENTER FIRST DAY NOTICE. I WILL BE MONITORING THIS!! THE BANKERS SUPPLIED THE NECESSARY SHORT PAPER IN TOTAL CONTRAST TO SILVER. WE MAY HAVE WITNESSED SOME OF THOSE LONG CALLS HIDDEN IN THE EFP’S BEING EXERCISED FOR THE JUNE CONTRACT MONTH

we had 1 notice(s) filed upon for 100 oz of gold.

Read More @ Harveyorganblog.com