Good evening Ladies and Gentlemen:
Gold closed down today to the tune of $5.40 dollars finishing the comex session at $1654.10 Silver finished down 4 cents to $30.48.
Today the raid was a no brainer on behalf of the bankers as we witnessed a huge run up in open interest and that is fodder for these crooks. Gold bounced off the $1650 price level four times today. The weak gold and silver shares today probably foreshadows another raid. Let us head over to the comex and assess trading, open interest positions, inventory movements and amounts of metal standing.
The total comex gold open interest rose by 5552 contracts to rest tonight at 438,390. Please remember that we are always 24 hours back with respect to OI so in reality the closing figure of 438,390 OI is in reality the official OI for yesterday. The front options expiry month of January saw its OI fall from 31 to 16 for a loss of 15 contracts. We had 7 delivery notices filed yesterday so we lost 8 contracts or 800 oz to cash settlements. The next big delivery month is February as first day notice is less than 2 weeks away. Here the OI fell by 4000 contracts to 160,113 contracts. The estimated volume at the comex today was very weak coming in at 145,097. The confirmed volume yesterday was a touch better at 186,277 despite many rollovers on both days.
The total silver comex OI fell by 798 contracts to 102,870. Silver is trading differently these past few weeks and we are witnessing this through the OI. It appears that all the silver OI is in strong hands.
The front options expiry month of January mysteriously saw its OI rise from 81 to 175 for a gain of 94 contracts. We had 12 delivery notices yesterday so we gained 106 silver additional contracts standing for delivery or 530,000 oz. Someone was in great need of physical silver today. The next big delivery month is March and here the OI fell by 1200 contracts to 53,240 contracts. The estimated volume today was a very weak 30,713. The confirmed volume yesterday was also weak at 46,029. Leverage in silver has disappeared as business is leaving the comex to other jurisdictions.
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