http://www.caseyresearch.com/gsd/edition/just-coincidence-her-majesty-queen-trotted-through-bank-englands-gold-vault
http://harveyorgan.blogspot.com/2012/12/huge-raid-on-silver-and-gold.html
Just coincidence? Her Majesty the Queen is Trotted Through Bank of England's Gold Vault
Dec
14
"The Bank of England and the LBMA et al must be terrified to the core to pull off a ballsy publicity stunt of this magnitude."
¤ YESTERDAY IN GOLD AND SILVER
As I mentioned in 'The Wrap' in yesterday's column...a not-for-profit seller showed up at 9:00 a.m. Hong Kong time on their Thursday morning and engineered waterfall declines in all the precious metals...with the ones in silver and gold being the most egregious.
The low price tick of the day....$1,688.70 spot...came just a few minutes before the opening of the equity markets in New York...and the subsequent rally got capped the moment the price ventured above the $1,700 spot price mark...which came a few minutes after twelve o'clock noon Eastern time. Once the Comex closed, the gold price traded sideways for the remainder of the session.
Gold finished the Thursday trading day at $1,697.30 spot...down $14.30 from Wednesday's close. Volume was very decent at around 170,000 contracts.
The low price tick of the day....$1,688.70 spot...came just a few minutes before the opening of the equity markets in New York...and the subsequent rally got capped the moment the price ventured above the $1,700 spot price mark...which came a few minutes after twelve o'clock noon Eastern time. Once the Comex closed, the gold price traded sideways for the remainder of the session.
Gold finished the Thursday trading day at $1,697.30 spot...down $14.30 from Wednesday's close. Volume was very decent at around 170,000 contracts.
Once the silver price got bashed at 9:00 a.m. in Hong Kong, it more or less traded sideways from there right up until the 8:00 a.m. GMT open in London. From that point, the selling pressure began anew...and silver's low tick [$32.13 spot] came five minutes before the 1:30 p.m. Comex close.
From that low it recovered a bit until about 3:40 p.m. Eastern time in electronic trading...and then traded flat until the close of trading at 5:15 p.m.
This was the second day in a row that silver had an intraday price move of over a dollar.
Silver closed the day at $32.54 spot...down 91 cents from Wednesday. Volume was very chunky at around 58,000 contracts.
The dollar index opened in the Far East on their Thursday morning at 79.89...and then spent the entire day wandering around within about 10 basis points of where it opened. The index closed at 79.93.
From that low it recovered a bit until about 3:40 p.m. Eastern time in electronic trading...and then traded flat until the close of trading at 5:15 p.m.
This was the second day in a row that silver had an intraday price move of over a dollar.
Silver closed the day at $32.54 spot...down 91 cents from Wednesday. Volume was very chunky at around 58,000 contracts.
It should be blindly obvious to anyone that the currencies played no part in what was going on in the precious metal markets yesterday.
* * *
The CME's Daily Delivery Report showed that 8 gold and 286 silver contracts were posted for delivery on Monday. In silver, the two biggest short/issuers were Barclays and Jefferies, with 207 and 62 contracts respectively. The biggest long/stopper was the Bank of Nova Scotia with 205 contracts...and JPMorgan was in second place with 66 contracts to be delivered to their client account. The link to yesterday's Issuers and Stoppers Reportis here.
There were no reported changes in GLD yesterday but, surprisingly enough, an authorized participant added 1,354,816 troy ounces of silver to SLV.
The U.S. Mint had a sales report yesterday. They sold 1,500 ounces of gold eagles...and another 200,000 silver eagles.
Over at the Comex-approved depositories on Wednesday, they reported receiving 931,932 troy ounces of silver...and shipped 316,627 ounces out the door. The link to that activity is here.
Here's what John Williams over at shadowstats.com had to say about the precious metals and the U.S. dollar price action on Wednesday..."In response to the QE3 expansion, initial market reactions in U.S. dollar and gold trading appears to have been muted by direct market interventions, possibly co-ordinated by the President’s Working Group on Financial Markets, which has the ability to intervene in any market, at any time, as it deems necessary. Such was discussed by Alan Greenspan when he was Federal Reserve Chairman."
There were no reported changes in GLD yesterday but, surprisingly enough, an authorized participant added 1,354,816 troy ounces of silver to SLV.
The U.S. Mint had a sales report yesterday. They sold 1,500 ounces of gold eagles...and another 200,000 silver eagles.
Over at the Comex-approved depositories on Wednesday, they reported receiving 931,932 troy ounces of silver...and shipped 316,627 ounces out the door. The link to that activity is here.
Here's what John Williams over at shadowstats.com had to say about the precious metals and the U.S. dollar price action on Wednesday..."In response to the QE3 expansion, initial market reactions in U.S. dollar and gold trading appears to have been muted by direct market interventions, possibly co-ordinated by the President’s Working Group on Financial Markets, which has the ability to intervene in any market, at any time, as it deems necessary. Such was discussed by Alan Greenspan when he was Federal Reserve Chairman."
* * *
Bernanke: Fed Can't Offset Fiscal Cliff—'It Is Just Too Big'
There are limits to how much aid the Federal Reserve can provide to the U.S. economy, Fed Chairman Ben Bernanke warned on Wednesday as he urged politicians to tackle a year-end fiscal cliff that could derail the country's gradual recovery.
"We have innovated quite a bit in the last few years, and (it) is always possible we could find new ways to provide support for the economy," he told a news conference after the Fed announced another round of bond buying to spur growth.
"But it is certainly true ... that with interest rates near zero and the (Fed's) balance sheet already large, that the ability to provide additional accommodation is not unlimited."
This story showed up on the moneynews.com Internet site on Wednesday afternoon...and I thank West Virginia reader Elliot Simon for our first story in today's column. The link is here
"We have innovated quite a bit in the last few years, and (it) is always possible we could find new ways to provide support for the economy," he told a news conference after the Fed announced another round of bond buying to spur growth.
"But it is certainly true ... that with interest rates near zero and the (Fed's) balance sheet already large, that the ability to provide additional accommodation is not unlimited."
This story showed up on the moneynews.com Internet site on Wednesday afternoon...and I thank West Virginia reader Elliot Simon for our first story in today's column. The link is here
Credit unions have surpassed BofA/JPMorgan in Seattle
If you haven’t switched away from one of the big banks, chances are you’ve at least considered it. Many Americans, fed up with hidden fees and excessive charges, have said goodbye to the big banks in favor of credit unions in recent years. Here in Seattle, that shift has been dramatic.
Twenty-eight percent of Seattle-area households bank primarily with a credit union now, up from 21.5 percent in 2008, according to market data firm Scarborough Research. That is a 30 percent jump in credit union banking, the ninth largest increase out of 96 metro areas around the nation. About half of all households banking with a credit union in the Seattle-Bellevue-Everett area are with BECU.
The story from The Seattle Times was posted on their website early on Tuesday morning....and naturally enough, it's courtesy of Washington state reader S.A. The link is here.
Twenty-eight percent of Seattle-area households bank primarily with a credit union now, up from 21.5 percent in 2008, according to market data firm Scarborough Research. That is a 30 percent jump in credit union banking, the ninth largest increase out of 96 metro areas around the nation. About half of all households banking with a credit union in the Seattle-Bellevue-Everett area are with BECU.
The story from The Seattle Times was posted on their website early on Tuesday morning....and naturally enough, it's courtesy of Washington state reader S.A. The link is here.
UK credit rating threatened with S&P downgrade
George Osborne's economic credibility suffered a fresh blow on Thursday when Standard and Poor's became the third of the major credit ratings agency to put the UK's AAA rating on negative outlook.
In a statement issued just after the London markets closed, S&P warned there was a one-in-three chance that it would strip the UK of its cherished AAA status within the next two years.
"We believe this could occur in particular as a result of a delayed and uneven economic recovery, or a weakening of political commitment to consolidation," it said.
This story appeared on The Guardian website early yesterday evening GMT...and I thank Elliot Simon for alerting me to this news item. The link ishere.
In a statement issued just after the London markets closed, S&P warned there was a one-in-three chance that it would strip the UK of its cherished AAA status within the next two years.
"We believe this could occur in particular as a result of a delayed and uneven economic recovery, or a weakening of political commitment to consolidation," it said.
This story appeared on The Guardian website early yesterday evening GMT...and I thank Elliot Simon for alerting me to this news item. The link ishere.
Tax Evasion Probe: Why Deutsche Bank Will Emerge Unscathed
Five hundred officials with the German Federal Criminal Office (BKA), the federal police and tax investigators searched Deutsche Bank's headquarters on Wednesday morning. A short while later, the finance giant declared that its CEO Jürgen Fitschen had become the subject of an investigation. Officials are looking into possible value-added tax evasion by Fitschen and the company's chief financial officer Stefan Krause.
Specifically, investigators are examining whether the company conducted illegal trade in carbon emissions certificates. The Frankfurt public prosecutor's office has accused 25 of the bank's employees of serious tax evasion, money laundering and obstruction of justice. On Wednesday, they ordered the arrest of five suspects.
Now Fitschen is also the subject of investigation. Is there a chance of him losing his job, though? Probably not.
Unless something radical happens, we've now discovered that the large banks are basically above the law. A slap-on-the-wrist fine, but nobody goes to jail, no matter how egregious the crime. As I said yesterday, it has become just another cost of doing business. This story was posted on the German websitespiegel.de yesterday...and it's courtesy of Roy Stephens. The link is here.
Specifically, investigators are examining whether the company conducted illegal trade in carbon emissions certificates. The Frankfurt public prosecutor's office has accused 25 of the bank's employees of serious tax evasion, money laundering and obstruction of justice. On Wednesday, they ordered the arrest of five suspects.
Now Fitschen is also the subject of investigation. Is there a chance of him losing his job, though? Probably not.
Unless something radical happens, we've now discovered that the large banks are basically above the law. A slap-on-the-wrist fine, but nobody goes to jail, no matter how egregious the crime. As I said yesterday, it has become just another cost of doing business. This story was posted on the German websitespiegel.de yesterday...and it's courtesy of Roy Stephens. The link is here.
EU leaders back Monti against Berlusconi
Germany's Angela Merkel and other centre-right leaders have indicated they would like to see Mario Monti to keep on running Italy instead of Silvio Berlusconi.
The centre-right leaders - as well as the two Italian political adversaries - met in Brussels ahead of an EU summit on Thursday (13 December) in an event designed to prevent Italy's political turmoil from stirring up the euro-crisis once again.
The centre-right European People's Party (EPP) chief Hans Martens admitted to journalists he stage managed the whole thing so that neither Monti nor Berlusconi knew the other would be there until the last minute to make sure that both men showed up.
"It was a clarifying meeting in which we wanted to hear about the political situation and to express our massive support for the policies pursued by Monti, not only for Italy, but for the stability of the eurozone as a whole," Martens said.
This story was posted on the euobserver.com Internet site early yesterday evening in Brussels...and I thank Roy once again for bringing it to our attention. The link is here.
The centre-right leaders - as well as the two Italian political adversaries - met in Brussels ahead of an EU summit on Thursday (13 December) in an event designed to prevent Italy's political turmoil from stirring up the euro-crisis once again.
The centre-right European People's Party (EPP) chief Hans Martens admitted to journalists he stage managed the whole thing so that neither Monti nor Berlusconi knew the other would be there until the last minute to make sure that both men showed up.
"It was a clarifying meeting in which we wanted to hear about the political situation and to express our massive support for the policies pursued by Monti, not only for Italy, but for the stability of the eurozone as a whole," Martens said.
This story was posted on the euobserver.com Internet site early yesterday evening in Brussels...and I thank Roy once again for bringing it to our attention. The link is here.
Four King World News Blogs/Audio Interviews
The first blog is with Rick Rule...and it's headlined "Largest Capital in the World Now Entering Gold & Silver Space". Next is Michael Pento. It's entitled "Fed's Balance Sheet to Hit a Shocking $6 Trillion". The last blog bears the title "KWN Friday Gold Chart Mania"...and all the charts are courtesy ofNick Laird. The audio interview is with GATA's Chris Powell...and it's a must listen.
China now world's largest market for silver investment
In spite of rapid development in the Chinese silver market over the past decade, both silver demand and supply are expected to achieve further growth, says a Thomson Reuters GFMS study released Thursday by the Silver Institute.
Meanwhile, investment demand from Chinese silver investors has jumped in recent years, making China the world’s largest market for both physical investment and paper trading of silver future and other similar contracts, says the study.
In 2011, China’s demand for silver bars and coins soared to 17 million ounces, accounting for 8% of worldwide net purchases of physical silver.
This must read story was filed from Reno just after midnight...and Ulrike Marx found it on the mineweb.com Internet site shortly after it was posted. The link is here.
Meanwhile, investment demand from Chinese silver investors has jumped in recent years, making China the world’s largest market for both physical investment and paper trading of silver future and other similar contracts, says the study.
In 2011, China’s demand for silver bars and coins soared to 17 million ounces, accounting for 8% of worldwide net purchases of physical silver.
This must read story was filed from Reno just after midnight...and Ulrike Marx found it on the mineweb.com Internet site shortly after it was posted. The link is here.
Just coincidence? Her Majesty the Queen is Trotted Through Bank of England's Gold Vault
Maybe it's just a coincidence but maybe instead it's a propaganda campaign launched by the British government and the Bank of England to assuage growing international concern about the oversubscription, lending, and swapping of Western central bank reserves...because the Bank of England welcomed Queen Elizabeth II herself for a grand tour of its gold vault, which attracted all the major British news organizations and instantly became a sensation throughout the United Kingdom.
WTF??? My jaw hit the floor when I read this...and you could have knocked me over with a feather. The Bank of England and the LBMA et al must be terrified to the core to pull off a ballsy publicity stunt of this magnitude. I wonder if you have any idea, dear reader, of just how highly placed one would have to be to ask a Royal Favour of this size? It would come from the very top....the Prime Minister and/or Sir Mervyn King himself...amongst others...as Her Majesty would certainly have never come up with this idea on her own.
Based on this act, I'd say that the problems in the physical market at the LBMA and the Bank of England are orders of magnitude worse than even we at GATA could have possibly imagined. As far as I'm concerned, all bets are off going forward...despite what JPMorgan et al are doing to the price in the paper market just now.
Not in my wildest dreams did I think it would come to this. This absolute must read story from The Guardian was posted on the gata.org Internet site yesterday...and the link is here. You couldn't make this up if you tried.
WTF??? My jaw hit the floor when I read this...and you could have knocked me over with a feather. The Bank of England and the LBMA et al must be terrified to the core to pull off a ballsy publicity stunt of this magnitude. I wonder if you have any idea, dear reader, of just how highly placed one would have to be to ask a Royal Favour of this size? It would come from the very top....the Prime Minister and/or Sir Mervyn King himself...amongst others...as Her Majesty would certainly have never come up with this idea on her own.
Based on this act, I'd say that the problems in the physical market at the LBMA and the Bank of England are orders of magnitude worse than even we at GATA could have possibly imagined. As far as I'm concerned, all bets are off going forward...despite what JPMorgan et al are doing to the price in the paper market just now.
Not in my wildest dreams did I think it would come to this. This absolute must read story from The Guardian was posted on the gata.org Internet site yesterday...and the link is here. You couldn't make this up if you tried.
* * *
¤ THE WRAP
I admit it sounds preposterous to suggest that JPMorgan might be stuck and trapped in their massive concentrated COMEX silver short position. After all, the bank is the one true master of the derivates universe, being the largest derivatives trader of all. Even more preposterous is the circumstance that the bank has remained silent against continuing allegations that their massive short position constitutes price manipulation. But no matter how outlandish the suggestions may seem, an objective assessment of the facts point to JPMorgan being up to its neck in the criminal manipulation of the silver market. The only question is the outcome. - Silver analyst Ted Butler...08 December 2012
I have nothing else to add to what I've already said about gold and silver at the top of this column. The only reason why someone would sell a boat load of contracts in the thinly-traded Far East market is to affect the price...and generate more technical fund long liquidation so the shorts can cover. That's precisely what JPMorgan et al were up to on Wednesday evening...but how successful they were won't be known until next Friday's COT Report. What I found surprising was that there was no downside follow-through during the Comex trading session in New York.
The other question that needs answering is how much more downside price activity there's going to be...and only JPMorgan Chase et al have the answer to that. The 200-day moving averages beckon...but can they, or will they? Beats me...and no one else knows, either.
Today we get the latest Commitment of Traders Report for positions held as of the close of Comex trading on Tuesday. Based on the prior week's price pattern, I'm not overly optimistic about what it will show and, of course, yesterday's price and volume activity won't be in it.
Nothing much happened in overnight trading...as all was quiet during the Friday session in the Far East...and it's pretty much the same in early London trading as well. Volumes are relatively 'normal'...whatever that means these days...and the dollar index, which had been down about 20 basis points at one point, gained all of that back in a vicious little rally that began just before London opened at 8:00 a.m. GMT.
I have nothing else to add to what I've already said about gold and silver at the top of this column. The only reason why someone would sell a boat load of contracts in the thinly-traded Far East market is to affect the price...and generate more technical fund long liquidation so the shorts can cover. That's precisely what JPMorgan et al were up to on Wednesday evening...but how successful they were won't be known until next Friday's COT Report. What I found surprising was that there was no downside follow-through during the Comex trading session in New York.
The other question that needs answering is how much more downside price activity there's going to be...and only JPMorgan Chase et al have the answer to that. The 200-day moving averages beckon...but can they, or will they? Beats me...and no one else knows, either.
Today we get the latest Commitment of Traders Report for positions held as of the close of Comex trading on Tuesday. Based on the prior week's price pattern, I'm not overly optimistic about what it will show and, of course, yesterday's price and volume activity won't be in it.
Nothing much happened in overnight trading...as all was quiet during the Friday session in the Far East...and it's pretty much the same in early London trading as well. Volumes are relatively 'normal'...whatever that means these days...and the dollar index, which had been down about 20 basis points at one point, gained all of that back in a vicious little rally that began just before London opened at 8:00 a.m. GMT.
I have no idea as to what to expect in today's action in New York. But it's a Friday...and nothing will surprise me when I switch my computer on later this morning.
Enjoy your weekend...or what's left of it, if you live just west of the International Date Line...and I'll see here tomorrow.
Enjoy your weekend...or what's left of it, if you live just west of the International Date Line...and I'll see here tomorrow.
http://harveyorgan.blogspot.com/2012/12/huge-raid-on-silver-and-gold.html
THURSDAY, DECEMBER 13, 2012
Huge raid on silver and gold
Good evening Ladies and Gentlemen:
Gold closed down by $21.00 to $ 1695.60. Silver fell by $1.43 to finish the comex session at $32.28 as the entire planet knew a raid was coming today due to the hit on the precious metals in the access market last night. This whole charade will end once London is out of it's physical and everybody stampedes to this side of the pond to obtain the last hoard of physical metals.
In other news today, Greece receive her 39 billion euros today and will also receive a further 10 billion euros at the end of March. All eyes will be on the ECB as the USA announced QE4 yesterday and thus the ECB will also try and increase it's balance sheet as Draghi lowers the Eur/USA cross in order to help exporting nations like Germany. We will go over all of these stories but first....................................
Gold closed down by $21.00 to $ 1695.60. Silver fell by $1.43 to finish the comex session at $32.28 as the entire planet knew a raid was coming today due to the hit on the precious metals in the access market last night. This whole charade will end once London is out of it's physical and everybody stampedes to this side of the pond to obtain the last hoard of physical metals.
In other news today, Greece receive her 39 billion euros today and will also receive a further 10 billion euros at the end of March. All eyes will be on the ECB as the USA announced QE4 yesterday and thus the ECB will also try and increase it's balance sheet as Draghi lowers the Eur/USA cross in order to help exporting nations like Germany. We will go over all of these stories but first....................................
let us head over to the comex and assess trading on Thursday.
The total gold comex open interest rose by a considerable 5175 contracts from 433,586 up to 438,761. The bankers were waiting in the wings as the pummeled the price of gold and silver today. The active contract month of December saw it's OI fall from 685 down to 609 for a loss of 76 contracts. We had only 1 delivery notice yesterday so we lost 75 contracts or 7500 oz of gold standing in December. The non active contract month of January saw it's OI fall from 1,226 down to 1077 for a loss of 149 contracts. The next big active month is February and here the OI rose by 4892 contracts from 279,748 up to 284,590. The estimated volume today was big coming in at 167,377. The confirmed volume yesterday was also big coming in at 173,039.
The total silver comex OI rose by 1981 contracts from 142,085 up to 144,066.
The active contract month of December saw it's OI rise from 570 up to 673 for a gain of 103 contracts. We had 61 delivery notices so we thus gained an additional 164 contracts or 820,000 oz of silver. The non active contract month of January saw it's OI fall by 17 contracts down to 518. The next active contract month is March and here the OI rose by 1450 contracts from 84,955 up to 86,405.
The estimated volume today was quite high at 57,672. The confirmed volume yesterday was also good at 50,642.
The estimated volume today was quite high at 57,672. The confirmed volume yesterday was also good at 50,642.
Comex gold figures
Dec 13.2012 The December contract month
Today, we had huge sized activity inside the gold vaults
The dealer had no deposits and no withdrawals.
We had 1 customer deposits:
Into Scotia: 771.6 oz
total deposit: 771.6 oz
we had 1 monster customer withdrawal:
Leaving JPMorgan vault: 321,500.00 oz of gold 99.98 tonnes
Dec 13.2012 The December contract month
Today, we had huge sized activity inside the gold vaults
The dealer had no deposits and no withdrawals.
We had 1 customer deposits:
Into Scotia: 771.6 oz
total deposit: 771.6 oz
we had 1 monster customer withdrawal:
Leaving JPMorgan vault: 321,500.00 oz of gold 99.98 tonnes
Adjustments: 3 with all leaving the customer and entering the dealer:
i) from the HSBC vault, 104.53 oz leaving the customer and entering the dealer at HSBC
ii) From the Manfra vault: 289.35 oz leaving the customer and entering the dealer.
iii) and finally Scotia whereby 504.625 oz leaves the customer and enters the dealer.
i) from the HSBC vault, 104.53 oz leaving the customer and entering the dealer at HSBC
ii) From the Manfra vault: 289.35 oz leaving the customer and entering the dealer.
iii) and finally Scotia whereby 504.625 oz leaves the customer and enters the dealer.
Thus the dealer inventory rests tonight at 2.616 million oz (81.27) tonnes of gold.
The CME reported that we had 225 notices filed for 22,500 oz of gold. The total number of notices filed so far this month is thus 2729 notices or 272,900 oz of gold. To obtain what will stand for December, we take the open interest standing for December (609) and subtract out today's notices (225) which leaves us with 384 contracts or 38,400 oz of gold left to be served upon our longs.
Thus the total number of gold ounces standing for delivery in December is as follows:
272,900 oz (served) + 38,400 oz (to be served upon) = 311,300 oz (9.68 tonnes of gold).
we lost 7500 oz of gold standing in the December delivery month.
Thus the total number of gold ounces standing for delivery in December is as follows:
272,900 oz (served) + 38,400 oz (to be served upon) = 311,300 oz (9.68 tonnes of gold).
we lost 7500 oz of gold standing in the December delivery month.
Silver:
Dec 13.2012: The December silver contract month
Dec 13.2012: The December silver contract month
Today, we had huge activity inside the silver vaults.
we had no dealer deposit and no dealer withdrawals:
We had 2 customer deposits of silver:
Into CNT: exactly 300,717.000 oz deposited
ii) Into JPMorgan: 631,215.80 oz
total deposit: 931,932.80 oz
Into CNT: exactly 300,717.000 oz deposited
ii) Into JPMorgan: 631,215.80 oz
total deposit: 931,932.80 oz
we had 3 customer withdrawal:
i) Out of Scotia: 300,599.62 oz
ii) Out of Delaware: 2006.95
iii) Out of Brinks; 14001.1 oz
total customer withdrawal: 316,627.69 oz
i) Out of Scotia: 300,599.62 oz
ii) Out of Delaware: 2006.95
iii) Out of Brinks; 14001.1 oz
total customer withdrawal: 316,627.69 oz
we had 3 adjustments: (all leaving the customer and entering the dealer accounts)
i) Out of Brinks: 117,345.35 oz leaves the customer and enters the dealer.
ii) Out of CNT: another masterful 359,651.000 oz leaves the customer and enters the dealer.
iii) Out of Scotia: 25,713.60 oz leaves the customer and enters the dealer.
i) Out of Brinks: 117,345.35 oz leaves the customer and enters the dealer.
ii) Out of CNT: another masterful 359,651.000 oz leaves the customer and enters the dealer.
iii) Out of Scotia: 25,713.60 oz leaves the customer and enters the dealer.
Registered silver remains today at : 42.021 million oz
total of all silver: 147.5 million oz.
now we are still awaiting for the deliveries which should subtract out of the dealer accounts.
now we are still awaiting for the deliveries which should subtract out of the dealer accounts.
The CME reported that we had 169 notices filed for 845,000 oz.
To determine the number of silver ounces standing for December, I take the OI standing for December (673) and subtract out today's notices (169) which leaves us with 504 notices left to be filed or 2,520,000 ounces left to be served upon our longs.
Thus the total number of silver ounces standing in this active month of December is as follows:
12,435,000 oz (served) + 2,520,000 (oz to be served upon) = 14,955,000 oz
we gained a massive 820,000 oz of addition silver standing for December.
Thus the total number of silver ounces standing in this active month of December is as follows:
12,435,000 oz (served) + 2,520,000 (oz to be served upon) = 14,955,000 oz
we gained a massive 820,000 oz of addition silver standing for December.
* * *
items of note - silver doctors et al........
BILL MURPHY: BLATANT POST QE4 METALS RAIDS INDICATE THE CARTEL IS GETTING DESPERATE
DECEMBER 14, 2012 BY 2 COMMENTS
AltInvestors has released a 
The legendary 
David Morgan’s ResourceInvestor.com has released a 4 minute clip with Ryan Jordan, author of Silver- The People’s Metal on why modern portfolio’s should hold tangible assets such as PHYSICAL SILVER rather traditional financial assets like corporate and government bonds and securities. Jordan points out that
No comments:
Post a Comment