GOLD UP 30 CENTS/SILVER DOWN 3 CENTS/U.N. SANCTIONS NORTH KOREA WITH A 15-0 VOTE (VOTE IN THE AFFIRMATIVE BY CHINA AND RUSSIA)

from Harvey Organ, Harvey Organ Blog:

NORTH KOREA OFFERS AN ANGRY RESPONSE TO THE ADDITIONAL SANCTIONS/SOUTH AFRICA TO HAVE A NON CONFIDENCE VOTE ON ZUMA TOMORROW/TED BUTLER REPORTS ON SILVER/USA STUDENT LOANS, AUTO LOANS AND REVOLVING CREDIT AT RECORD LEVELS

In silver, the total open interest SURPRISINGLY FELL BY ONLY 146 contracts from  204,833 DOWN TO 204,687 DESPITE THE HUGE FALL IN THE PRICE THAT SILVER TOOK WITH RESPECT TO FRIDAY’S TRADING (DOWN 34 CENT(S). SIMPLE EXPLANATION: THE BANKERS SUPPLIED THE NECESSARY PAPER BUT MORE NEWBIE SILVER LONGS ENTERED THE ARENA WITH THE REMAINING SILVER LONGS REMAINING STOIC AGAIN AND REFUSING TO BUDGE FROM THE SILVER TREE.

 In ounces, the OI is still represented by just OVER 1 BILLION oz i.e.  1.025 BILLION TO BE EXACT or 146% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 1 NOTICE(S) FOR 5,000OZ OF SILVER

In gold, the open interest FELL by A CONSIDERABLE 9,501 WITH the FALL in price of gold ($10.50 LOSS ON FRIDAY.)  The new OI for the gold complex rests at 448,278. WITH THE RAID ON FRIDAY, THE BANKERS WERE SUCCESSFUL IN COVERING SOME OF THEIR SHORTFALL AS NEWBIE SPECS FLED FROM THE SCENE.

we had: 73 notice(s) filed upon for 7300 oz of gold.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

With respect to our two criminal funds, the GLD and the SLV:

GLD:

Today, no changes in gold inventory:

Inventory rests tonight: 787.14 tonnes

IN THE LAST 17 DAYS: GLD SHEDS 50.1 TONNES YET GOLD IS HIGHER BY $44.85 . 

SLV

Today: : WE NO CHANGES IN SILVER INVENTORY TONIGHT:

INVENTORY RESTS AT 339.606 MILLION OZ

 

end