Kolkata: Two persons have been arrested for the murder of Trinamool leader Nirmal Kundu, who was shot dead in Nimta on Tuesday evening. Chief Minister Mamata Banerjee is set to visit his family on Thursday.On Tuesday night, police detained a person identified as Suman Kundu, who admitted that he hired a contract killer to murder Nirmal. After interrogating him, cops nabbed the contract killer Sujoy Das from Uttarpara. According to sources, Suman was a Trinamool worker in Nimta. He joined the BJP a few months ago before the Lok Sabha elections. Also Read – Rs 13,000 crore investment to provide 2 lakh jobs: MamataThe police said Suman had some personal and political rivalry with Nirmal. On Wednesday, it found from a CCTV footage that Nirmal was having a chat with some local residents when two persons on a bike fired two shots at him and fled. After observing the footage, cops were sure that an expert shooter was involved in the crime as the youth in CCTV footage was seen using a small firearm and he shot the TMC leader on a speeding bike. During preliminary investigation, the police came to know about the rivalry between Nirmal and Suman. During questioning, Suman confessed to crime and said he had hired Sujoy, who belonged to Burwan in Murshidabad. Cops found his mobile number and tracked him down from Uttarpara by using his phone location. Police claimed that they were not sure about the motive behind the murder but Trinamool leadership claimed that he was being threatened and targeted by the BJP as he was an active Trinamool member. Also Read – Lightning kills 8, injures 16 in stateNirmal was actively involved in poll-related work in Birati and Nimta areas. He was known to all and confronted the BJP in his area. “We have arrested two persons in connection with Nirmal’s murder. A few more persons might be involved in the incident. A search is on to nab them. A single-shoter and three rounds of bullet have been seized from the contract killer. To ensure that the bullet was fired from the seized firearm, ballistic test will be done,” said Ananda Roy, Deputy Commissioner (DC), Zone II of Barracakpore Police. MP from Dum Dum constituency Saugata Roy, said: “The BJP was targeting Nirmal as he was an active worker of Trinamool.”
The CME Daily Delivery Report showed that 212 gold and 4 silver contracts were posted for delivery within the Comex-approved depositories on Thursday. The only short/issuer worth noting was Morgan Stanley with 200 contracts. The three biggest long/stoppers were JPMorgan with 102 in its client account—and Barclays and Deutsche Bank with 48 and 47 contracts apiece. The link to yesterday’s Issuers and Stoppers Report is here. There was a tiny withdrawal from GLD yesterday—8,464 troy ounces. This was probably a fee payment of some kind. And as of 9:41 p.m. EDT yesterday evening, there were no reported changes in SLV. I asked Ted Butler what his thoughts were on the 1.9 million troy ounces withdrawal out of SLV yesterday. He said that with the physical market as tight as it is, someone obviously needed silver in a hurry—and the SLV was the quickest “no hassle” way to get it—so they bought the shares and redeemed them for physical. The US Mint had a smallish sales report yesterday. They sold 4,500 troy ounces of gold eagles—and 155,000 silver eagles. Over at the Comex-approved depositories on Monday, there was no in/out activity in gold at all. But it was another big day in silver, as 877,825 troy ounces were reported received—and 600,255 troy ounces were shipped out. Most of the activity was over at Canada’s Scotiabank—and the link is here if you want to take a closer look. Once again I have a lot of stories for your reading “pleasure” today—and I hope you can find the time to wade through the ones you like. Where to from here? The remarkably bullish setup in silver, while somewhat diminished by technical fund short covering and a climb in price, is still largely intact. While a short term price sell-off is always possible since COMEX silver is a crooked and manipulated market, the market structure in silver (and gold) points to much larger price advances than declines. All things considered, the odds overwhelmingly favor the upside. As such, a full long side exposure is warranted, regardless of what the COMEX commercial crooks have up their sleeves. – Silver analyst Ted Butler: 14 June 2014 It wasn’t much of a trading day on Tuesday—and I’m not prepared to read a thing into the price action, although it’s reasonable to assume that the short spike down in the gold price at precisely 8:30 a.m. EDT made a lot of newly minted long holders in the Comex futures market hit the “sell” button—and that would certainly explain the much higher volume on Tuesday vs. Monday. Here are the six-month gold and silver charts—and both are shown with their respective 25- and 50-day moving averages. Nothing has changed since Monday in either metal. The gold stocks gapped down a bit over a percent at the open, but were back in positive territory just before 11 a.m. EDT. From there they chopped sideways just above the unchanged mark for most of the day—and eked out a small gain, as the HUI closed up 0.12%—precisely the same percentage gain as on Monday. Platinum’s rally attempt in early Far East trading wasn’t allowed to get anywhere—and it slowly got sold off from its high tick, with the low of the day coming shortly before 9 a.m. in New York. From there it rallied back and actually closed in the plus column, up a whole $6. The palladium chart looked similar—and it finished the day up $6 as well. The dollar index closed in New York late on Monday afternoon at 80.45—and by 10 a.m. on Tuesday morning in Hong Kong had jumped up to 80.55. From there it chopped a few basis points lower until the 8:20 a.m. EDT Comex open. At that point, the index rallied quickly up to 80.64—and then slid a bit into the close, finishing the day at 80.60—up 15 basis points. The silver equities followed a very similar chart pattern, but they rallied much higher into positive territory than their golden brethren—and Nick Laird’s Intraday Silver Sentiment Index closed up 0.88%.