OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

A little of Ed Steer’s comentary this am.

Posted by Scruffy @ 8:47 on October 28, 2014  

The CME Daily Delivery Report showed that 85 gold and 2 silver contracts were posted for delivery within the Comex-approved depositories on Wednesday.  Canada’s Scotiabank issued all 85 contracts—and Barclays stopped 84 of them in its client account.  The link to yesterday’s Issuers and Stoppers Report is here.

The CME Preliminary Report for the Monday trading session showed that gold open interest dropped 157 contracts down to 129 contracts—minus the 85 shown above.  There’s not much left, but what is left has to be delivery in the next three business days.  Silver’s October o.i. was unchanged at 2 contracts—and those were posted for delivery tomorrow, so October deliveries are done in silver.

There were no reported changes in GLD yesterday—and as of 5:44 p.m. EDT yesterday afternoon, there were no reported changes in SLV, either.

The good folks over at the shortsqueeze.com Internet site updated the short  interest in both GLD and SLV very late last week—and here’s what they had to report.  The short interest in SLV increased from 15.02 million shares/ounces to 16.64 million shares/ounces, or 10.85 percent for the reporting period ending on October 15.

In GLD, the short interest rose from 1.469 million troy ounces to 1.555 million troy ounces, or 5.81 percent.

These aren’t really large moves—and I would guess that this shorting is of the ‘plain vanilla’ variety as traders use these two ETFs to bet on the continued decline in price of the physical metal themselves.  This sort of activity should never be allowed in a physical precious metal fund, as there’s no metal being deposited to back up these shorted shares.

There was another decent sales report from the U.S. Mint yesterday.  They sold 3,000 troy ounces of gold eagles—500 one-ounce 24K gold buffaloes—and 175,000 silver eagles.

There was more big in/out movement in both gold and silver at the Comex-approved depositories on Friday.  In gold, there was 16,075 troy ounces reported received—and 79,357 troy ounces shipped out.  The link to that activity is here.

In silver, there was 302,307 troy ounces received—and 1,260,853 troy ounces shipped out the door for parts unknown.  The link to that action is here.

Manitoba reader U.M. sent around a Bloomberg story yesterday about China’s Imports through Hong Kong for September.  They haven’t been ‘officially’ released, but some of the major media outlets get it on the sly about ten days before the official announcement.  Here are the first two paragraphs…

China’s gold imports from Hong Kong in September rose to the highest in five months as retailers and fabricators boosted purchases ahead of a holiday sales season.

Net imports totaled 61.7 metric tons last month, the most since April, according to calculations by Bloomberg News based on data from the Hong Kong Census and Statistics Department today. That compares with 25.6 tons in August and 109.4 tons a year earlier. Exports to Hong Kong from China rose to 30.1 tons in September from 12.4 tons in August, the statistics department said in a separate statement.

The link to to the rest of the story headlined “China Gold Imports Rise to Five-Month High Before Holiday Sales,” filed from Beijing at 3:58 a.m. Denver time on Monday morning, is here.

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.