Silver as an investment

August 5/GLD loses another 1.5 tonnes down to 917.14/ dealer comex gold lowers again to 29.08 tonnes/Bart Chilton strikes/

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

Harvey Organ's - The Daily Gold and Silver Report / Monday, August 5, 2013

Good evening Ladies and Gentlemen:

Gold closed down $8.00 to $1302.60 (comex closing time ). Silver was down 17 cents to at $19.71 (comex closing time).

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

gold: $1302.70
silver: $19.71

In Friday’s trading we noticed the huge weakness in silver/gold equity shares
which is a good signal that the following trading session we would see a raid and they did not disappoint us. Today we witnessed an increase in negativity of the GOFO rates for 1 month out, 2 months and 3 months out which clearly indicates that gold is scarce. Actually what is scarce is physical good London delivery bars (i.e. the 400 oz bars) over in England.

Alasdair McLeod has discovered that the Bank of England in its capacity as a foreign depository has engineered a huge lease of 1300 tonnes of gold. That gold hit the market causing gold and silver to fall. The lower prices helped the bullion banks cover much of their negative shortfall on the paper gold side. However on the physical side of things, they are now more short with a much lower price of gold. China and India were the recipients of the flooded gold. The raid on gold (and silver) thus served no purpose as the bullion banks are still massively short as they owe the borrowed gold to various central banks through the B. of E. They have no hope of retrieving this metal as their plan backfired totally! The sovereign central banks will be creditors to the bullion banks failure to deliver. (their default)

At the Comex, the open interest in silver rose by 1440 contracts to 135,679 with silver down 17 cents on Friday.

The open interest on the entire gold comex contracts rose by 2032 contracts to 397,891 with gold’s fall in price yesterday by 20 cents on Friday. The total OI is extremely low for the complex and suggests that gold is in very strong hands. All of the weak hands on Friday 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 935.014 million oz or 29.08 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 7.011 million oz or 218.07 tonnes.


Thanks to BrotherJohnF