There were 4,383 delivery notices issued on the first day of the OCT contract. The OCT contract total for the month is 4,383 contracts or 438,300 ozs. Bank of Nova Scotia issued 4,273 (97% of all issued notices) and stopped 1,469 of them. Looks like BNS was stopping 85% of the issued notices in SEP because they have some big shorts to deliver on in this month. JPM stopped 1,725 notices but issued none…could they need some actual real gold also??

There were 21 delivery notices issued in silver for the OCT contract. The total delivery notices for the month stand at 21 or 0.1 Mozs.

Cash settlement of contracts in SEP month contract was:

Silver 311 (9.2% of issued notices)
Gold 672 (54% of issued notices)

It is interesting that in a month where there were a low total volume of gold delivery notices issued 54% were cash settled. I will be closely watching the OCT figures because already on the first trading day 250% more delivery notices have been issued than in the whole of September! Very few silver contracts were cash settled. That means the dealers will need to find real metal.

The open interest in OCT gold jumped 289 contracts from yesterday. Looks like someone wants to take delivery!