More turmoil in Yemen/Irish citizens remove massive amount of euros from bank accounts ie. your old fashion Bank Run)
Good evening Ladies and Gentlemen:
Gold closed today at $1331.50 down $8.10 dollars. Silver also fell by 23 cents to $28.30. The banking cartel felt the need to whack these precious metals again as the world focuses on commodity prices which are rising everywhere on the globe.
First let us head over to the gold comex and see what transpired:
The total gold comex open interest fell by 793 contracts yesterday despite gold's rise. Obviously there was short covering by the bankers. However it looks like those who settled in cash did not buy any April or other gold contract. They may have switched into silver.
The front options open interest in gold saw its open interest fall from 4887 contracts to 2396 for a loss of 3294 contracts. Since the deliveries yesterday were 1699 then we must have lost a few more contracts for cash. The front delivery month of April saw its oi remain relatively constant, falling from 309,239 to today's reading of 307,686.
The estimated volume today on the comex was rather low at 111,308. The confirmed volume yesterday was normal at 162,617.
And now for silver:
The total silver comex open interest rose from 123380 to 125,287 for a gain of 1907 contracts. You would expect this is due to silver's rise yesterday.
The front options delivery month of February saw its open interest surprisingly jump to 118 from 35 as the bankers allowed some exercised options to surface for air and thus tell us that they have been exercised.
The estimated volume on the silver comex today was normal at 41,496. The confirmed volume yesterday was extremely good at 67,231.
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Market News, Analysis, and commentary primarily on the precious metals markets, gold, silver, mining.
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