The total gold OI rose by 2150 contracts despite Thursday's huge wallop. As I promised you the raids are having no appreciable effect on our stable longs as we obtain new entrants at lower prices. What is shocking is the front delivery month of December. Here the OI rose by 496 contracts despite 77 deliveries. We therefore gained in ounces standing and lost nothing to cash settlements. Generally we see increase deliveries to the dealers as they try and bail themselves out of problems in other jurisdictions as participants are anxious to get their hands on rapidly fleeing gold.
People are anxious to get their hands on rapidly fleeing gold? Hmmmm I wonder why? But I also thought there was no shortage of gold, what does Harvey mean "rapidly fleeing gold"?
Thus the total number of gold ounces standing in this delivery month of December is as follows: 1,817,000 (oz served) + 108000 (oz to be served upon) = 1,925,800 oz or 59.9 tonnes of gold. And yet hardly any gold is deposited into the dealer and no gold is withdrawn. Something is up!!
59.9 tonnes of gold now standing for delivery this month of December out of an supposed inventory of 103.9 tonnes. That's more than 60% of the total inventory standing for delivery yet as Harvey says hardly any gold id being deposited. thinks that make you hmmmmm? Is the beginning of the unwinding of the Comex and a possible fail to deliver? I know this is a silver miner message board but this is just as relevant to silver as well.
Regarding silver this is what Harvey had to say;
The total silver comex OI rose slightly from 94,999 to 96,761 for a gain of 1,762 contracts. This occurred with a huge loss in silver prices on Thursday. The increase in OI with a huge drop in price is totally incomprehensible but what else is new when we are talking about the crooked comex casino. The front delivery month of December behaved in a normal fashion by dropping 23 contracts from 414 to 391. We had 24 deliveries so we gained one contract of silver standing. The next big delivery month is March and here the OI rose from 53,683 to 54,100 as we witnessed that no silver leaves fell from the silver tree.
Here to Harvey seems to imply something is up as well as we had an increase in OI despite a huge drop in price which he claims is totally "incomprehensible". Here to things seem to be possibly unwinding? There are no silver leaves left to shake from either the gold or silver tree. Does this mean the time is short before prices finally start to rise. Time will tell I guess, but things definitely seem to be heating up on the big paper ponzi scheme.