Harvey Organ thinks China is standing for delivery from comex
i) the June gold contract is an active contract and the second biggest delivery month of the year following December. Friday night, the bankers first day delivery issuance to our longs to be settled on June 1 was huge: the number was 3,508 gold notices for 350,800 oz or 10.9 tonnes of gold. On day two, we had another huge number of gold notices filed at 2281 for 228100 oz or 7.09 tonnes of gold.
On day 3,THURSDAY, we had another whopper of 1969 notices for 196,900 oz or 6.12 tonnes.
FRIDAY, saw another huge 1026 notices filed for 102600 oz (3.19 tonnes). Then on Friday night we had a whopping 2981 notices filed for Monday totaling 2981 contracts for 298,100 oz.
Thus in 5 days a total of 11,765 notices have been filed for 1,176,500 oz or 36.59 tonnes. WHAT IS MORE FASCINATING WAS THE FRONT JUNE MONTH INCREASED IN NET OI BY 678 CONTRACTS ON THURSDAY(67,800 OZ). ON FRIDAY IT INCREASED BY 78 CONTRACTS OR 7800 OZ AND TODAY IT INCREASED BY 264 CONTRACTS OR 26400 OZ. THE ENTITY STANDING DOES NOT WANT FIAT AND IT SURE LOOKS LIKE A SOVEREIGN (CHINA) IS STANDING FOR GOLD.
silverdoctors.com
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