Silver as an investment

august 2/GLD declines by 2.41 tonnes/SLV declines by 578,000 oz/Comex dealer inventory declines to 29.088 tonnes/Brinks dealer inventory declines to only 4.13 tonnes/Gold and silver withstand attempted raid on the jobs report

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

Harvey Organ's - The Daily Gold and Silver Report

harveyorgan.blogspot.com / Friday, August 2, 2013

Good evening Ladies and Gentlemen:

Gold closed up $.20 to $1310.60 (comex closing time ). Silver was up 28 cents to at $19.90 (comex closing time).

In the access market today at 5 pm tonight here are the final closing prices:

gold: $1313.50
silver: $19.89

At around 6 pm est Thursday night, the bankers were already whacking gold and silver preparing us for the jobs number at 8:30 Friday morning. The bankers knocked gold down to $1282 by the time the nonfarm payroll numbers were released. That number came in at 162,000 gain instead of the expected 185,000 and there were also jobs losses from the previous month. Main street is now getting wise to the fact that most of the job gains were in the part time category and also most of the gains were in retail whereas construction workers were down in numbers. Gold immediately shot up to around $1319 but settled at $1314.00 before the bankers capped any rally in gold forcing the price lower. Silver also broke into the 20 dollar column before settling at $19.90 for the rest of the session. At the comex close, gold was at $1310.60 and silver at $19.90. The raid certainly knocked out some of our newbie longs who had stop losses at around $1300.00.

At the Comex, the open interest in silver rose by 259 contracts to 134,239 with silver flat (yesterday).

The open interest on the entire gold comex contracts fell by 2744 contracts to 398,573 with gold’s fall in price yesterday by $2.00. The total OI is extremely low for the complex and suggests that gold is in very strong hands. All of the weak hands today were obliterated. There is no doubt we have very little fat (OI) left on the bone that our criminal bankers can attack!!.

Tonight, the Comex registered or dealer inventory of gold falls again and this time, well below the 1 million oz mark at 939.207 million oz or 29.088 tonnes. This is dangerously low especially when we are now into the August delivery month. The total of all gold at the comex (dealer and customer) falls again tonight and this time just above the 7 million oz barrier resting at 7.018 million oz or 218.303 tonnes.

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Thanks to BrotherJohnF