GOLD RISES BY $5.10 AND SILVER IS UP BY 7 CENTS

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by Harvey Organ, Harvey Organ Blog:

A MONSTROUS 21,428 EFP’S TRANSFERRED OUT OF THE COMEX AND LANDS AS A FORWARD IN LONDON/SARA CARTER; PROOF OF CLINTONS AND OBAMA IN URANIUM ONE SCANDAL

GOLD: $1282.00  UP $5.10

Silver: $17.00 UP 7 cents

Closing access prices:

Gold $1280.70

silver: $16.97

SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)

SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)

SHANGHAI FIRST GOLD FIX: $1287.34 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1280.10

PREMIUM FIRST FIX: $7.24

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SECOND SHANGHAI GOLD FIX: $1288.21

NY GOLD PRICE AT THE EXACT SAME TIME: $1279.95

Premium of Shanghai 2nd fix/NY:$8.26

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LONDON FIRST GOLD FIX: 5:30 am est $1280.00

NY PRICING AT THE EXACT SAME TIME: $1280.55

LONDON SECOND GOLD FIX 10 AM: $1283.30

NY PRICING AT THE EXACT SAME TIME. 1283.30

For comex gold:

NOVEMBER/

 NUMBER OF NOTICES FILED TODAY FOR NOVEMBER CONTRACT:  1 NOTICE(S) FOR 100 OZ.

TOTAL NOTICES SO FAR: 1053 FOR 105,300 OZ (3.375 TONNES)

For silver:

NOVEMBER

0 NOTICE(S) FILED TODAY FOR

nil OZ/

Total number of notices filed so far this month: 884 for 4,420,000 oz

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Bitcoin: BID $8198 OFFER /$8224 down $30.00 (MORNING)

BITCOIN : BID $8206 OFFER: $8235 // down $22 (CLOSING)

end

Let us have a look at the data for today

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In silver, the total open interest FELL BY A LARGELY ANTICIPATED 7611 contracts from 205,094 DOWN TO 197,483 WITH RESPECT TO YESTERDAY’S TRADING  WHICH SAW SILVER FALL  BY A CONSIDERABLE 45 CENTS AND FALL WELL BELOW THE HUGE $17.25 SILVER RESISTANCE.   WE HAD CONSIDERABLE LONG COMEX LIQUIDATION.  HOWEVER   WE WERE ALSO NOTIFIED THAT WE HAD QUITE A HUMONGOUS NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE : 2998 DECEMBER EFP’S WERE ISSUED ALONG WITH 0 EFP’S FOR MARCH FOR A TOTAL ISSUANCE OF 2998 CONTRACTS. (THE ISSUANCE FOR MARCH THAT WE HAVE SEEN THESE PAST FEW DAYS BOTHERS ME A LOT AS THIS IS SUPPOSE TO BE FOR EMERGENCY IN THE UPCOMING DELIVERY MONTH).  I GUESS WHAT THE CME IS STATING IS THAT THERE IS NO SILVER TO BE DELIVERED UPON AT THE COMEX AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. THURSDAY WITNESSED  1078 EFP’S ISSUED FOR YESTERDAY.

RESULT: A HUGE SIZED RISE IN OI COMEX WITH THE 45 CENT PRICE FALL.  WE HAD CONSIDERABLE  COMEX LONGS  EXITED OUT OF THE COMEX .  HOWEVER FROM THE CME DATA 2998 EFP’S  WERE ISSUED FOR TUESDAY FOR A DELIVERABLE CONTRACT OVER IN LONDON WITH A FIAT BONUS. IN ESSENCE THE  DEMAND FOR SILVER PHYSICAL INTENSIFIES GREATLY. WE REALLY LOST ONLY 4613 CONTRACTS.

In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.987 BILLION TO BE EXACT or 141{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT OCT MONTH/ THEY FILED: 3 NOTICE(S) FOR 15,000 OZ OF SILVER

In gold, the open interest FELL  BY A LESS THAN EXPECTED 9,277 CONTRACTS WITH THE HUGE SIZED FALL IN PRICE OF GOLD ($19.70) WITH RESPECT TO YESTERDAY’S TRADING. WE HAD CONSIDERABLE COMEX LONGS EXIT THE ARENA.  HOWEVER  THE TOTAL NUMBER OF GOLD EFP’S ISSUED YESTERDAY FOR TODAY  TOTALED A TOTALLY UNBELIEVABLE: 21,428 CONTRACTS OF WHICH THE MONTH OF DECEMBER SAW 21,428 CONTRACTS AND FEB SAW THE ISSUANCE OF 150 CONTRACTS. YESTERDAY, WE WITNESSED A TOTAL OF 12,711 EFP’S ISSUED FRIDAY  FOR MONDAY.  The new OI for the gold complex rests at 550,561. DEMAND FOR GOLD INTENSIFIES DESPITE THE CONSTANT RAIDS.  EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION.  THE BANKERS AT THE COMEX  HAVE JUST STATED THAT THEY HAVE NO METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NOT BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS SEVERELY BACKWARD IN BOTH GOLD AND SILVER AND ON TOP OF THAT IT IS TAKING 6 TO 10 WEEKS TO OBTAIN PHYSICAL WHEN FORWARDS ARE DUE.

Result: A HUGE SIZED DECREASE IN OI  WITH THE MAMMOTH FALL IN PRICE IN GOLD ON YESTERDAY ($19.70). WE  HAD AN UNBELIEVABLE HUMONGOUS NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 21,428. THERE OBVIOUSLY DOES NOT SEEM TO BE ANY PHYSICAL GOLD AT THE COMEX AN YET WE ARE APPROACHING THE HUGE DELIVERY MONTH OF DECEMBER. I GUESS IT EXPLAINS THE HUGE ISSUANCE OF EFP’S…THERE IS NO GOLD PRESENT AT THE GOLD COMEX. IF YOU TAKE INTO ACCOUNT THE 21,428 EFP CONTRACTS ISSUED, WE HAD A NET GAIN OPEN INTEREST OF 12,151:  21,428 CONTRACTS MOVE TO LONDON AND 9277 LEAVE THE COMEX.

we had:  1  notice(s) filed upon for 100 oz of gold.

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With respect to our two criminal funds, the GLD and the SLV:

GLD:

No change in gold inventory at the GLD/

Inventory rests tonight: 843.39 tonnes.

SLV

TODAY WE HAD NO CHANGE IN SILVER INVENTORY AT THE SLV

INVENTORY RESTS AT 318.074 MILLION OZ

end

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First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver FELL BY 7611 contracts from 205,094 DOWN  TO197,483 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH THE HUGE FALL IN SILVER PRICE (A LOSS OF 45 CENTS ). HOWEVER, OUR BANKERS  USED THEIR EMERGENCY PROCEDURE TO ISSUE A MONSTROUS 2998  PRIVATE EFP’S FOR DECEMBER (WE DO NOT GET A LOOK AT THESE CONTRACTS)  AND 0 EFP’S FOR MARCH FOR A TOTAL OF 2998 EFP CONTRACTS.  EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. THIS IS QUITE EARLY FOR THESE EFP ISSUANCE..USUALLY WE WITNESS THIS ONE WEEK PRIOR TO FIRST DAY NOTICE AND THIS CONTINUES RIGHT UP UNTIL FDN.  WE ALSO HAD CONSIDERABLE  AMOUNT OF SILVER COMEX LIQUIDATION.

RESULT: A HUGE SIZED DECREASE IN SILVER OI AT THE COMEX WITH THE 45 CENT LOSS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). HOWEVER, WE  HAD ANOTHER 2998 EFP’S ISSUED,TRANSFERRING OUR COMEX LONGS OVER TO LONDON TOGETHER WITH CONSIDERABLE  SILVER COMEX LIQUIDATION.  YESTERDAY WE EXPERIENCED 1078 EFP’S ISSUED FOR TRANSFER TO LONDON.

(report Harvey)

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2.a) The Shanghai and London gold fix report

(Harvey)

2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY: Bloomberg

3. ASIAN AFFAIRS

i)Late MONDAY night/TUESDAY morning: Shanghai closed UP 18.10 points or .53{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} /Hang Sang CLOSED UP 557.76 pts or 1.91{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} / The Nikkei closed UP 154.72 POINTS OR 0.70{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Australia’s all ordinaires CLOSED UP 0.27{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Chinese yuan (ONSHORE) closed DOWN at 6.6336/Oil UP to 56.55 dollars per barrel for WTI and 62.36 for Brent. Stocks in Europe OPENED GREEN  . ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.6336. OFFSHORE YUAN CLOSED WEAKER TO THE ONSHORE YUAN AT 6.6362 //ONSHORE YUAN WEAKER AGAINST THE DOLLAR/OFF SHORE WEAKER TO THE DOLLAR/. THE DOLLAR (INDEX) IS STRONGER AGAINST ALL MAJOR CURRENCIES. CHINA IS   VERY HAPPY TODAY.(MARKETS STRONG)

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