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December 2/GLD and SLV constant in inventory/Amount standing in December for gold drops to 24.2 tonnes/

Harvey Organ's - The Daily Gold and Silver Report

harveyorgan.blogspot.com / By Harvey Organ / Monday, December 2, 2013

Good evening Ladies and Gentlemen:

Gold closed down $29.10   to $1222.30 (comex closing time ).  Silver was down 61 cents at $19.23.

In the access market today at 5:15 pm tonight here are the final  prices:

gold: $1220.00
silver:  $19.16

 GOFO numbers are now very slight  decreasing in the negative
all GOFO rates still  positive

Here are today’s readings with Friday’s comparison:

i) One Month:  +.06666700%   vs  yesterday: +.07167000000%
ii Two Months:  +.0916700000%.  vs yesterday:  +.0916700000000%
iii) Three Months:  +.1050000% vs yesterday:  +.105000000%
iv) Six months:  +.1333300%  vs   yesterday:   +.133330000%

Let us now head over to the comex and assess trading over there today, which as everybody knows is first day notice.

Here are today’s results:

The total gold comex open interest  fell today by 2,558 contracts from  386,524 down to 383,966 as gold closed up on Friday  to the tune of  $14.20.   The biggest of all delivery months is the December contract month.  The December OI contract month fell by 2427 contracts to 7731 despite the fact that we had few notices filed.  No doubt we had considerable cash settlements during the holiday. The next non active delivery month is January and here the OI fell by 4 contracts down to 408.  The next big active month for gold is February and here the OI fell by only 739 contracts to 234,105 as the rest just dropped out. The estimated volume today was light at 140,243 contracts  The confirmed volume Friday was  light as well at 130,018.  I guess nobody wants to play in a crooked casino.

The total silver Comex OI  fell by only 370 contracts in total contrast to gold, as silver was u[ in price on Friday by 35 cents.  The total OI now rests tonight at 132,752 contracts.   The big December contract saw its OI fall by 1111 contracts down to 2,279. We had 786 contracts served upon our longs on Friday so we lost 325 contracts or 1,625,000 oz of silver will not stand.  The next non active month for silver is January and here the OI fell by 49 contracts down to 2,562. The next big delivery month for silver is March and here the OI rose by 720 contracts up to 92,474.  The estimated volume today was good coming in at 47,474 contracts.  The bankers supplied all the necessary non backed paper today.  The confirmed volume on Friday was very good  at 36,234 contracts.

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