Monday, January 3, 2011

Harvey Organ's Daily Gold & Silver Report - Gold and silver withstand another attack/silver rises above 31.00 dollars.

Here is a brief segment from the report:

The comex notified us that 9 delivery notices were sent down for physical silver for a total of 45,000 oz. The total number of notices sent down so far this month total 228 or 1,140,000 oz.

To obtain what is left, we take the delivery notices of 9 and subtract from today's open interest of 55, to give us 46 notices left to be served upon or 230,000 oz.

Thus the total number of silver oz standing in this delivery month for options is as follows:

1,140,000 oz + 230,000 oz (to be served0 = 1,370,000.

It seems that in both gold and silver, the open interest recorded was faulty or we
had our usual cash settlements to reduce those open interests.

I will comment on the inventory changes for you tomorrow.

CLICK HERE to read the whole report.

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