Gold closed today at $1426.10 up $10.20 Silver rose by 94 cents to $36.00. It seems that the price of gold seems to levitate around the $1430 level and silver around $36.00. The banking cartel seems to have drawn a line in the sand forbidding the price to penetrate those levels. Let us head over to the comex and see how things fared over there.
The total gold comex OI on both official sites rose by 3,011 contracts for a reading tonight of 500,554 from Friday's level of 497,543. This is of course, basis Friday which saw gold and silver rise. Thus a rise in OI is normal and to be expected.
The front options delivery month of March saw its OI fall from 37 to 16 for a drop of 21 contracts. We had 22 deliveries which accounts for the drop. All eyes are now on the front month of April and here we witnessed that the OI actually rose again from 224,972 to 225,003 with a little over a week to go for first day notice.
The banking cartel are starting to take notice of the rather large OI standing in gold. The estimated volume today was a rather anemic 114,964. The confirmed volume on Friday was much better registering in at 153,617.
The total silver comex OI saw its OI rise 468 contracts to 133,076 from Friday's level of 132,608. Silver had a banner day on Friday so the rather low rise in OI probably scared some bankers to cover a few of their shorts. Everybody has their eyes glued to the next piece of data, the front OI month of March. The comex folk notified us that the front delivery month of March saw its OI rise 5 contracts from 893 to 898. We had zero deliveries on Friday so we had a few more standing in line for silver metal. The estimated volume today was a rather slowish 46,875. The confirmed volume on Friday was large at 65,575.
The low volumes on both gold and silver will probably bother our CFTC commissioners as it seems business is flowing to other jurisdictions. (G&S Update by, Harvey Organ)
The total silver comex OI saw its OI rise 468 contracts to 133,076 from Friday's level of 132,608. Silver had a banner day on Friday so the rather low rise in OI probably scared some bankers to cover a few of their shorts. Everybody has their eyes glued to the next piece of data, the front OI month of March. The comex folk notified us that the front delivery month of March saw its OI rise 5 contracts from 893 to 898. We had zero deliveries on Friday so we had a few more standing in line for silver metal. The estimated volume today was a rather slowish 46,875. The confirmed volume on Friday was large at 65,575.
The low volumes on both gold and silver will probably bother our CFTC commissioners as it seems business is flowing to other jurisdictions. (G&S Update by, Harvey Organ)
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