Harvey Organ's:
Tuesday, December 20, 2011
Good evening Ladies and Gentlemen:
Today the risk trade was on and as such the stock markets around the globe rallied big time on no news whatsoever. Gold finished the comex session at $1615.60 up $21.38 on the day. Silver rebounded 73 cents to $29.50. We are not finished yet with all of our gold and silver bashing by our illustrious bankers.
Let us head over to the comex and see how trading fared, with inventory movements and delivery notices and amount of precious metals standing for delivery.
The total gold comex OI fell by 3217 contracts yesterday from 427,087 to 423,870 as we had a little mini raid by the bankers. The front delivery month of December continues to baffle many analysts. The Dec month saw its OI rise again from 361 to 387 for a gain of 26 contracts despite 15 deliveries yesterday.
Thus we gained 41 contracts or 4100 oz of gold oz standing and lost nothing to cash settlements. The next big delivery month for gold is February and here the OI dropped by 4610 contracts to 248,902. The estimated volume today was 101,511 which is on the low side. The confirmed volume yesterday registered 127,111.
The total silver comex OI rose by 1160 contracts to 102,054 despite the mini raid. It seems that the silver long holders are more resolute in their conviction. The front delivery month of December saw its OI fall from 231 to 74 for a loss of 157 contracts. We had 119 delivery notices so again we had cash settlements to the tune of 38 contracts or 190,000 oz of silver. The next big delivery month is March and here the OI rose from 55,356 to 56,532. The estimated volume was a very very anemic 22,775. The confirmed volume yesterday on the mini raid came it at 52,161.
No comments:
Post a Comment