Harvey Organ's - The Daily Gold and Silver Report
Gold finished the comex session at $1631.00 for a gain of 23.50 dollars. Silver had a stellar day rising by $1.02 to $29.78. The risk on trade was orchestrated by our elite bankers today as bourses throughout the globe rose. Please be careful if you trade gold and silver against these crooks. There is a lot to cover so first let us head over to the comex and assess trading, inventory movements and delivery notices filed.
The total comex OI (open interest) fell by 3,820 contracts as yesterday we had the orchestrated raid on our precious metals. The new OI rests tonight at 414,044 which I perceive to be in very strong hands. The front options expiry month of January saw its OI fall from 23 to 16 for a loss of 9 contracts. Yesterday we had 10 delivery notices so we gained 1 contract of additional gold oz standing and lost nothing to cash settlements.
The next big delivery month is February and we are 3 weeks away from first day notice. Here the OI fell very noticeably from 215,152 to 203,070. Some rolled and some just quit playing. The estimated volume today at the gold comex was pretty good at 196,924. The confirmed volume yesterday was 165,683 contracts.
The total silver comex OI fell by 1781 contracts from 106,526 to 104,745. We have witnessed that the silver OI has been in this narrow range between 104,000-106,000 for the past month. I would say we are also in strong hands tonight. The front options expiry month of January saw its OI fall from 93 to 57 for a loss of 36 contracts. We had 82 delivery notices yesterday so we again gained 46 contracts or 230,000 oz of additional silver standing and lost nothing to cash settlements. The next big delivery month for silver is March and here the OI fell by less than 1,000 contracts to rest tonight at 56,872. The estimated volume was not bad at 42,308 contracts. The confirmed volume yesterday was quite weak at 33,979.
Inventory Movements and Delivery Notices for Gold: Jan 10 2012:
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