April 20, 2016 · by harveyorgan
In gold, the total comex gold OI ROSE BY A HUMONGOUS 13,553 contracts UP to 503,331 contracts as the price of gold was UP $19.40 with TUESDAY’S TRADING (at comex closing). Upon seeing that huge OI number in gold, the boys started their pounding of gold throughout the night and into trading today. But to no avail.. gold and silver strength is showing its muscle.
We had no changes in gold inventory at the GLD, thus the inventory rests tonight at 805.03 tonnes.The boys loading gold into and/or removing gold at the GLD must be getting dizzy at the sheer pace of transactions!! The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold. Our 670 tonnes of rock bottom inventory in GLD gold has been broken. It looks to me that China has taken the last amounts of physical gold from the GLD. I guess the only place left for China to receive physical gold, after they deplete the GLD will be the FRBNY and the comex. In silver’s SLV,we had no change in silver inventory. Thus the inventory rests at 334.724 million oz.
