GOLD RUN? 43 TONNES OF GOLD STAND FOR FEBRUARY DELIVERY ON 1ST NOTICE DAY
Today was first notice day for February delivery in gold, and as usual, wehad a waterfall raid in gold to $1655. The cartel MO has long been to raid gold and silver on options expiration as well as first notice day, to help prevent longs from standing for delivery.
While the the cartel raid was successful based on the paper futures price, it was an epic fail based on physical gold delivery requests, as a monumental 1.391 million ounces, or 43.26 tonnes of gold stood for delivery today on first notice day.
To put this number in perspective, December delivery in gold, which is traditionally the largest delivery month of the year, saw less than 10 tonnes stand for delivery.