It seems that silver OI is static..the bankers are having a tough time trying to knock off the silver leaves from the silver tree.
For comex gold:
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 45 NOTICE(S) FOR 4500 OZ.
TOTAL NOTICES SO FAR: 2589 FOR 258,900 OZ (8.0528 TONNES)
JUNE 3 NOTICES FILED TODAY FOR
Total number of notices filed so far this month: 914 for 4,570,000 oz
Let us head over to the comex:
The total gold comex open interest FELL BY A HUGE 5,507 CONTRACTS DOWN to an OI level of 454,101 WITH THE RISE IN THE PRICE OF GOLD ($1.80 with FRIDAY’S trading)., . An open interest of around 390,000 to 400,000 is core and nothing will move these guys from their contracts.
We are now in the contract month of JUNE and it is one of the BETTER delivery months of the year. In this JUNE delivery month we had A LOSS OF 338 contract(s)FALLING TO 866. We had 336 notices filed yesterday so we LOST 2 contracts or an additional 200 oz will NOT stand for delivery in this very active delivery month of June AND 2 CONTRACTS RECEIVED AN EFP CONTRACT WHICH ENTITLES THEM TO A FIAT BONUS PLUS A FUTURE GOLD CONTRACT/OR A LONG CALL OR MOST LIKELY A LONDON BASED FORWARD GOLD CONTRACT. THESE EFP’S ARE PRIVATE OFF COMEX TRANSACTIONS. THE STUBBORN LONGS WHO ARE REMAINING STOIC AT THE COMEX ARE SO FAR REFUSING THAT FIAT BONUS (OVER 11 TONNES STANDING)
The non active July contract GAINED 181 contracts to stand at 2061 contracts. The next big active month is August and here the OI LOST 6,101 contracts DOWN to 324,634, as the bankers trying to keep this month down to manageable size.
We had 45 notice(s) filed upon today for 4500 oz
Today, 0 notice(s) were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 45 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 26 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.
The next big active month will be July and here the OI LOST 2,424 contracts DOWN to 87,367 as we start to wind down before first day notice Friday, June 30. July will be interesting to watch in silver as we witness fewer players pitching for EFP contracts than with gold.
The month of August, a non active month picked up 7 contracts to stand at 81. The next big active delivery month for silver will be September and here the OI already jumped by another 2616 contracts up to 70,319.
I will give you a snapshot as to what happened last year at the exact number of days before first day notice:
Monday, June 20.2016: 90,784 contracts were still outstanding vs 87,367 contracts June 19.2017
At the conclusion of June, the final standing for physical silver was 3,080,000 oz and we have already surpassed that number this year (4,595,000 oz).
The line in the sand is $18.50 for silver and again it has been defended by the criminal bankers. Once this level is pierced, the monstrous billion oz of silver shorts will blow up. The bankers are defending the Alamo with their last stand at the $18.50 mark. THE NEW RECORD HIGH IN OPEN INTEREST WAS SET FRIDAY APRIL 21/2017 AT: 234,787.
As for the July contracts:
Initial amount that stood for silver for the July 2016 contract: 14.785 million oz
Final standing: 12.370 million with the difference being EFP’s taking delivery in London.
We had 3 notice(s) filed for 15,000 oz for the June 2017 contract