Roebear, Monday could be interesting given less warehousing of gold
per your link to kitco.com. Very interesting article that, for convenience sake, I will copy and paste here.
ADVISORY: COMEX GOLD, SILVER STOCK LEVELS RE-ADJUSTED
Futures World News - November 14, 1997 17:07
METAL GENERAL V%FWN P%FWN
New York-Nov. 14-FWN--THE COMEX DIVISION OF NYMEX TODAY reported that Swiss Bank Corp., who will cease to act as a Licensed
Depoistory for the storage of gold and silver deliverable against COMEX's gold and silver futures contracts on Nov. 21, 1997, has informed the exchange that Swiss Bank has been incorrectly reporting the amount of gold and silver eligible for delivery against the respective contracts.
Due to an error in reporting stocks, the Metal Warehouse Statistics from the close of business on Nov. 13 incorrectly showed a total of 3,811,872 troy ounces of silver and 75,284 troy ounces of gold at Swiss Bank Corp. The actual total was 335,203 troy ounces of silver and 43,696 troy ounces of gold.
Today's inventory report, dated Nov. 14, 1997, correctly reflects the transfer of all Swiss Bank Corp. gold and silver inventories to Republic National Bank.
I have also taken the liberty of copying the previous link as you posted that for easy access. Here it is:
To: Eakole (901 )
From: Roebear
Saturday, Nov 15 1997 9:36AM EST
Reply #905 of 908
Eakole,
News with a capital N.
Gold may be heading down, but on the other hand, if these dead metal markets can still be brought to life with the paddles, silver may be dragging gold up on Monday AM.
What do you think after reading this!
Maybe Darlene read this same article and hopes for a BCMD news blurb to coincide with the inevitable reaction to this news. Monday could be an interesting day!
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