Silver as an investment

SEPT 13/BLOODBATH IN STOCKS, BONDS TODAY WITH A MINOR KNOCKDOWN IN GOLD/SILVER/BOND YIELDS RISING AT AN ALARMING RATE/RETAIL SPENDING DROPS BADLY AS THE CONSUMER IS JUST ALL TAPPED OUT/

harveyorganblog.com / by harveyorgan / September 13, 2016

Gold:1321.10 down $9.10

Silver 18.91 down 37 cents

In the access market 5:15 pm

Gold: 1319.20

Silver: 18.86

Today, the big mover globally was the advance in yield on all bonds. This is quite something since 2/3 of the world still have negative interest rates and QE to boot.

No doubt this caught the attention of investors and they decided that it was not worth it to keep their money in the stock market.

Keep in mind that a rapid rise in yields will cause a huge hardship to our underwriting derivative banks.

THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON.

The Shanghai fix is at 10:15 pm est and 2:15 am est

The fix for London is at 3 am est (first fix) and 10 am est (second fix)

Thus Shanghai’s second fix corresponds to 45 minutes before London’s first fix.

And now the fix recordings:

Shanghai morning fix Sept 13 (10:15 pm est last night): $1333.72

NY ACCESS PRICE: $1330.95 (AT THE EXACT SAME TIME)

Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$1331.23

NY ACCESS PRICE: 1328.86 (AT THE EXACT SAME TIME)

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London Fix: Sept 13: 3: am est: $1328.50 (NY: same time: $1328.80: 3 AM)

London Second fix Sept 8: 10 am est: $1323.65 (NY same time: $1323.70 , 10 AM)

It seems that Shanghai pricing is higher than the other two , (NY and London). The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price. This should drain the comex.

Also why would mining companies hand in their gold to the comex and receive constantly lower prices. They would be open to lawsuits if they knowingly continue to supply the comex despite the fact that they could be receiving higher prices in Shanghai.

For comex gold:The front September contract month we had 20 notices filed for 2000 oz

For silver: the front month of September we have a total of 27 notices filed for 135,000 oz

Let us have a look at the data for today

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The post SEPT 13/BLOODBATH IN STOCKS, BONDS TODAY WITH A MINOR KNOCKDOWN IN GOLD/SILVER/BOND YIELDS RISING AT AN ALARMING RATE/RETAIL SPENDING DROPS BADLY AS THE CONSUMER IS JUST ALL TAPPED OUT/ appeared first on Silver For The People.