Dear Friends,

Linked below are a few charts for you to examine.

Also, I am monitoring the delivery process for the December Comex gold contract. Here is what we have for first notice day:

We had a total of 8,600 issued and stopped – to put it into perspective, the entire month of October was 11,554 deliveries. November, an off month, had 1,288 if my data is correct. What is curious is that Bank of Nova Scotia was the big stopper in the month of November but the first notice day for the December shows them as issuing 2,327 but stopping 3,523. It is hard to figure out what they or their customers are doing there but on balance they are still taking more than they are issuing. They are still the LARGEST STOPPER.

Credit Suisse is the largest issuer.

Have a great weekend!
Trader Dan

Click here for today’s Monthly Gold charts with commentary from Trader Dan Norcini

Click here for today’s HUI, XAU/Gold Ratio and Gold/Bond Ratio charts with commentary from Trader Dan Norcini