Gold/silver trading:  see kitco charts on right side of the commentary.

Following is a brief outline on gold and silver comex figures for today:

The gold comex today had a poor delivery day, registering 0 notices served for nil oz.  Silver comex registered 41 notices for 205,000 oz .

Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 254.52 tonnes for a loss of 48.5 tonnes over that period. Lately the removals  have been rising!

In silver, the open interest rose by an astonishing 1,396 contracts even though yesterday’s silver price was down 3 cents. The total silver OI continues to remain relatively high with today’s reading at 167,631 contracts. The front month of March contracted by 16 contracts.

We had  41 notices served upon for 205,000 oz.

In gold we had a fall in OI despite the fact that gold was up by $2.30 yesterday. The total comex gold OI rests tonight at 413,701 for a loss of 1,669 contracts. Today, surprisingly we again had only 0 notices served upon for nil oz.

Today, we had no report on the  GLD/Inventory rests at 753.04  tonnes

In silver, /SLV  we had no change in inventory at the SLV/Inventory, remaining at 327.332 million oz

We have a few important stories to bring to your attention today…

1.  The Greece affair.

It looks like the Troika are going to set foot on Greek soil. Greece also having problems with obtaining imported goods due to non payment

(zero hedge)

2.  China set to introduce their SWIFT system by September putting a huge dagger into the heart of the USA dollar.(zero hedge/Reuters)

3. Venezuela is now considered by the USA as a security risk. They are also going to fingerprint you when purchasing goods at the grocery store. (zero hedge)

4. 100 tanks are rolling into Latvia.  The Russian foreign minister states that there will be consequences.(zero hedge)

5. The Ukraine needs to get the west to agree to a 15.4 billion haircut in order to receive funds from the IMF (Reuters)

we have these and other stories for you tonight.

Let us now head over to the comex and assess trading over there today.

Here are today’s comex results:

The total gold comex open interest fell by a small margin of 1,669 contracts today from 415,370 down to 413,701 even though gold was up by $2.30 yesterday (at the comex close). We are now in the contract month of March which saw it’s OI lower by 31 contracts down to  117. We had 0 notices filed on yesterday so we lost 31 gold contract or an additional 3100 oz will not stand for delivery in this delivery month of March. The next big active delivery month is April and here the OI fell by 12,515 contracts down to 239,160. The estimated volume today (which is just comex sales during regular business hours of 8:20 until 1:30 pm est) was poor at 135,933. The confirmed volume yesterday ( which includes the volume during regular business hours  + access market sales the previous day) was poor at 147,647 contracts  with mucho help from the HFT boys. Today we had 0 notices filed for nil oz.