Good evening Ladies and Gentlemen:
Gold closed higher by $9.70 to $1739.00. Silver also rebounded nicely rising by 21 cents to $33.88.
Gold jumped immediately at comex opening and remained positive until London was put to bed and that is when the crooked bankers sold their paper metals to drive the price down.
Let us head over to the comex and assess trading today.
The total gold comex OI fell by 3,914 contracts as the raid had a little effect forcing some of the weaker longs to pitch their contracts. The front delivery month of February saw its OI rise by 4 contracts despite 35 delivery notices yesterday. We thus gained 39 notices or 3900 additional gold ounces standing in this delivery month. The next big delivery month is April and it is here that some the biggest contraction from 240,326 contracts to 236,981 for a loss of 3345. The estimated volume today was quiet at 147,155. The confirmed volume yesterday, the day of the raid came in at 162,522 as the bankers supplied all of their non backed gold paper fire power.
The total silver comex OI fell slightly by 676 contracts from 106,008 to 105,332 as raids seem to have no effect on our silver leaves as they refuse to fall from the tree. The front options expiry month of February saw its OI fall by 1 contract despite 41 delivery notices yesterday. We thus gained another 40 contracts or an additional 200,000 oz of silver. We are now 20 days away from first day notice for the March contract.
Here the OI fell from 43,383 to 40,979 which is normal as we witness some rollovers into May. The estimated volume today came in at 46,867 which is becoming the new norm. The confirmed volume yesterday, the day of the raid came in at 69,549. The bankers are throwing a temper tantrum that they cannot force the liquidation of silver longs.
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