Gold refuses to buckle on attempted raid/In silver 14.86 million oz standing on first day/ in gold a huge 4.46 tonnes standing

Gold closed up $3.80 to $1472.20 (comex closing time).  Silver unchanged at $24.18  (comex closing time).

In the access market at 5 pm gold and silver  rose :

gold: $1476.30
silver: $24.35

At the comex, the open interest in silver fell  by a healthy 1844 contracts to 146,310 contracts as we had some short covering. The silver OI is  holding firm at elevated levels . The open interest on the gold contract rose by 6525 contracts to 422,733. Today is first day notice in both gold and silver and at first glance we will have 143,500 oz of gold stand in this non active month of May  (4.4 tonnes).

In silver, at first glance we will have 14.86 million oz standing for delivery.
I will provide details for you below.

Today, physical gold continues to leave London with 2.14 tonnes of gold departing the GLD for the shores of China/and or Russia.

We had good commentaries today from Mark Grant, Ambrose Evans Pritchard, Jim Sinclair, Rosie Murray West of the UK Telegraph, Michael Kreiger on CME President Duffy, Bill Murphy and James Turk on Barrick and Pascua Lama and Glenys Sim of Bloomberg on gold‘s huge demand.

Good paper stories are provided by of course, zero hedge and Marc to Market

We will go over these and other stories but first…………………….

Let us now head over to the comex and assess trading over there today:

The total gold comex open interest rose by 6,525 contracts today  from 416,206  up to 422,733,  with gold rising by $14.80 on Monday.  The front April OI is now off the board. Today is first day notice for the May Gold contract.  Last night we had a rather large 1288 notices sent down for first day delivery.  The number of OI contracts standing this afternoon is represented by 1435 contracts or 143,500 oz of gold.  So a preliminary reading of the amount that will stand will be 143,500 oz or 4.46 tonnes.  That amount will probably rise as the month progresses. The next active contract month is June and here the OI rose by 2253 contracts to 246,611. June is the second biggest delivery month in gold‘s calender.  The estimated volume today was fair at 150,640.   The confirmed volume on Monday was also fair at 145,114 contracts.

The total silver comex OI fell  by a hefty 1844  contracts from 148,154 down to 146,310  with silver‘s $0.42 rise on Monday. No doubt we had some short covering today.  Those contracts  that remain are stoic and ready to take on the bankers at their crooked game. Today is first day notice for the active silver contract month.  Late last night a rather large 1506 contracts were served upon or 7.530 million oz.  At 1:30 this afternoon we learned that 2,972 contracts are standing first for 14.86 million oz. No doubt JPMorgan will be busy handing out fiat to encourage these longs not to take possession of the physical metal.  The next  delivery month for silver is June and here the OI fell by 13 contracts to stand at 486. The next big active contract month is July and here the OI rose by 4504 contracts to rest tonight at 79,509.   The estimated volume today was good, coming in at 38,700 contracts.  The confirmed volume yesterday was very good at 75,641.

Comex gold/May contract month:

April 30.2013

May gold: first day notice

Withdrawals from Dealers Inventory in oz
Withdrawals from Customer Inventory in oz
 189,258.117 (HSBC,Scotia) oz
Deposits to the Dealer Inventory in oz
Deposits to the Customer Inventory, in oz
269.169.971 (Scotia, HSBC)
No of oz served (contracts) today
 1288  (128,800  oz)
No of oz to be served (notices)
147 (14,700)
Total monthly oz gold served (contracts) so far this month
1288  (128,800)
Total accumulative withdrawal of gold from the Dealers inventory this month
Total accumulative withdrawal of gold from the Customer inventory this month
189,258.117  oz

We had huge activity at the gold vaults.

The dealer had 0 deposits and 0  dealer withdrawals.

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