SILVER UP 9 CENTS/HUGE OPEN INTEREST STILL STANDING AT THE GOLD COMEX: WE MAY HAVE A HUGE AMOUNT OF GOLD STANDING FOR DELIVERY

from Harvey Organ:

CHINA’S PLUNGE PROTECTION TEAM COMES TO THE RESCUE OF CHINESE MARKETS JUST LIKE THE USA/OIL COLLAPSES AS MARKETS WANTED GREATER PRODUCTION CUTS/ USA RETAIL AND WHOLESALE INVENTORIES FALL BADLY WHICH WILL NO DOUBT LOWER 2ND QUARTER GDP

In silver, the total open interest ROSE BY 1 contract(s) UP to 203,460 WITH THE TINY FALL IN PRICE OF SILVER THAT TOOK PLACE WITH YESTERDAY’S TRADING (DOWN 2 CENT(S). IT IS OBVIOUS THAT WE ARE GETTING SOME BANKER SHORT COVERING IN CONJUNCTION WITH BANKER DELTA HEDGING. In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.017 BILLION TO BE EXACT or 145% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 11 NOTICE(S) FOR 55,000 OZ OF SILVER

In gold, the total comex gold ROSE BY A HUMONGOUS 8293 contracts DESPITE THE FALL IN THE PRICE OF GOLD ($2.50 with YESTERDAY’S TRADING). The total gold OI stands at 471,083 contracts. THE BANKERS SUPPLIED THE NECESSARY SHORT PAPER IN TOTAL CONTRAST TO SILVER DESPITE THE FALL IN PRICE ON BOTH METALS. WE MAY HAVE WITNESSED SOME OF THOSE LONG CALLS HIDDEN IN THE EFP’S BEING EXERCISED FOR THE JUNE CONTRACT MONTH

we had 4 notice(s) filed upon for 400 oz of gold.

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