JPMorgan’s vault gold declines

Good evening Ladies and Gentlemen:

Gold closed up  by $1.30 to $1398.40 (comex closing time).  Silver rose by 6 cents to $22.46  (comex closing time)

In the access market at 5:00 pm, gold and silver finished trading at the following prices :

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gold: 1404.10
silver:  $22.56

I am not going into the trading of gold and silver because you all know that it is manipulated throughout all time zones, so I will not waste your time.

At the Comex, the open interest in silver rose by 739 contracts to 145,734 contracts with silver‘s fall in price on Tuesday by 32 cents.  The silver OI is  holding firm at elevated levels . The open interest on the entire gold comex contracts fell  by 2909 contracts to 375,970 which is extremely low. There is no question that all of the weak speculators in gold have now departed.  Only the strong remain. The number of ounces which is standing for gold in this  June delivery month  is 936,400 or 29.12 tonnes.The number of silver ounces, standing for delivery is represented by 620,000 oz. No doubt this level will climb as the June month proceeds.

Tonight, the Comex registered or dealer gold lowers to  1.513 million oz or 47.06 tonnes.  This is getting dangerously low.  The total of all gold at the comex fell slightly and now it is just below the 8 million oz at 7.985 million oz or 248.36 tonnes of gold.

The GLD  reported another loss in gold inventory to the tune of 2.7 tonnes. The SLV inventory of silver also remained firm with no losses.

We have physical stories today from Addison Wiggin on the fraudulent leasing of gold and silver;Jessie from the Jessie’s American cafe on the low registered gold inventory at the Comex with additional inputs from zero hedge with respect to JPMorgan’s inventory. Dr Paul Craig Roberts discusses the price manipulation of gold with the GoldMoney.com report.

Finally, Adrian Ash discusses events in India where the government banned all credit related purchases of gold.  That is correct, gold can only be purchased with cash.  Gold paid no attention as it rose soon after the announcement.

On the paper side of things, we have a report from Dave of Denver/the Golden Truth who is paying attention to the signals that are being emanated out of the junk bond market.

We have  great commentaries for you from Bill Holter  on the ramifications of the past 6 days of global trading and how we must prepare for the inevitable.

Wolf Richter provides a superb presentation on how China is gobbling up all major assets that it can find.

Pivotfarm gives a good thorough analysis on what is going on in Egypt today.

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

Let us now head over to the comex and assess trading over there today.
Here are the details:

The total gold comex open interest fell  by 2909 contracts from  375,970 down to 373,061 with gold falling by $14.60 yesterday. The front active month of June saw it’s OI fall by 225 contracts from 3540 contracts down to 3315. We had 63 contracts served upon our longs yesterday.  We thus lost 162  contracts or 16,200   that will not stand this month. The next delivery month is the non active July contract and here the OI fell by 62 contracts up to 537.  The next active delivery month for gold is August and here the OI fell by 2725 contracts from 215,940 down to 213,215 . The estimated volume today was poor at 129,971 contracts.    The confirmed volume yesterday was also poor at 126,177 contracts. It looks to me like all of the paper gold longs have been washed out!!

The total silver Comex OI completely plays to a different drummer than gold. Its OI rose by 739  contracts to 145,734,  with  silver‘s fall in price to the tune of 34 cents yesterday.  The front non active June silver contract month shows no gain or loss in OI contracts. We had 0 notices filed yesterday so in essence we neither gained nor lost any silver ounces standing for metal for the June contract month.   The estimated volume today was fair, coming in at 39,988 contracts.  The confirmed volume yesterday was better at  at 42,750.

Comex gold/May contract month:

June 5/2013

the June contract month:

Gold
Ounces
Withdrawals from Dealers Inventory in oz
nil  (0 oz)
Withdrawals from Customer Inventory in oz
21,034.434  oz (JPMorgan, HSBC)
Deposits to the Dealer Inventory in oz
nil
Deposits to the Customer Inventory, in oz
nil
No of oz served (contracts) today
 333 (33,300  oz)
No of oz to be served (notices)
2982 (298,200 oz
Total monthly oz gold served (contracts) so far this month
6382  (638,200  oz)
Total accumulative withdrawal of gold from the Dealers inventory this month
100.000 oz
Total accumulative withdrawal of gold from the Customer inventory this month
35,324.352 oz
We again had good activity at the gold vaults
The dealer had 0 deposits and 0  dealer withdrawal.
We had 0 customer deposits today: (very strange for a huge delivery month of June)

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