GOLD AND SILVER RALLY ON HYPE OF A TAX DEAL

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by Harvey Organ, Harvey Organ Blog:

GOLD DOWN $5.15 TO $1239.90 BUT IN THE ACCESS MARKET: $1244/SILVER FALLS 11 CENTS AT $15.65 /BUT IN THE ACCESS MARKET: 15.73/COMEX GOLD TRANSFERS 7704 CONTRACTS FOR LONDON FORWARDS/SILVER TRANSFERS 2940 CONTRACTS/BITCOIN TRADES OVER $17,000 PER COIN/LOTS OF NEWS ON THE “SWAMP”

GOLD: $1239.90 DOWN $5.15

Silver: $15.65 DOWN 11 cents

Closing access prices:

Gold $1243.70

silver: $15.72

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: $1254.21 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1244.60

PREMIUM FIRST FIX: $9.61

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SECOND SHANGHAI GOLD FIX: $1258.35

NY GOLD PRICE AT THE EXACT SAME TIME: $1251.00

Premium of Shanghai 2nd fix/NY:$8.35

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1251.40

NY PRICING AT THE EXACT SAME TIME: $1250.40

LONDON SECOND GOLD FIX 10 AM: $1240.90

NY PRICING AT THE EXACT SAME TIME. 1240.50

For comex gold:

DECEMBER/

 NUMBER OF NOTICES FILED TODAY FOR DECBER CONTRACT:  207 NOTICE(S) FOR 20700 OZ.

TOTAL NOTICES SO FAR: 6306 FOR 630600 OZ (19.614 TONNES),

For silver:

DECEMBER

198 NOTICE(S) FILED TODAY FOR

990,000 OZ/

Total number of notices filed so far this month: 5484 for 27,420,000 oz

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Bitcoin: BID $17,177/OFFER $17,299, UP $571 (morning) 

BITCOIN : BID $17,191 OFFER: $17,307 // UP $572 (CLOSING)

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Let us have a look at the data for today

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In silver, the total open interest SURPRISINGLY ROSE BY A WHOPPING 3715 contracts from 196,556 RISING TO 200,271 DESPITE YESTERDAY’S SMALL  SIZED 4 CENT FALL IN SILVER PRICING.     WE HAD SURPRISINGLY NO REAL  COMEX LIQUIDATION AND ON TOP OF THIS, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GIGANTIC NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE :  2940 EFP’S FOR MARCH (AND ZERO FOR DEC AND OTHER MONTHS) AND THUS TOTAL ISSUANCE OF 2940 CONTRACTS.   I GUESS WHAT THE CME IS STATING IS THAT THERE IS NO SILVER (OR GOLD) TO BE DELIVERED UPON AT THE COMEX AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. YESTERDAY WITNESSED 2094 EFP’S FOR SILVER ISSUED.

ACCUMULATION FOR EFP’S/SILVER/ STARTING FROM FIRST DAY NOTICE/FOR MONTH OF DECEMBER:

27,342 CONTRACTS (FOR 8 TRADING DAYS TOTAL 27,342 CONTRACTS OR 136.71 MILLION OZ: AVERAGE PER DAY: 3,417 CONTRACTS OR 17.088 MILLION OZ/DAY)

RESULT: A HUGE SIZED RISE IN OI COMEX DESPITE THE  4 CENT FALL IN SILVER PRICE.  HOWEVER  WE HAD ALL OF OUR COMEX LONGS WHICH EXITED OUT OF THE SILVER COMEX  TRANSFERRED THEIR OI TO LONDON THROUGH THE EFP ROUTE:  FROM THE CME DATA 2940 EFP’S  WERE ISSUED TODAY  FOR A DELIVERABLE CONTRACT OVER IN LONDON WITH A FIAT BONUS. IN ESSENCE THE  DEMAND FOR SILVER PHYSICAL INTENSIFIES GREATLY. WE REALLY GAINED 6655 OI CONTRACTS i.e. 2940 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 3715 OI COMEX CONTRACTS. AND ALL OF THIS INCREASED DEMAND  HAPPENED WITH THE TINY FALL IN PRICE OF SILVER BY 4 CENTS AND A LOW CLOSING PRICE OF $15.76 YESTERDAY. YET WE STILL HAVE A MASSIVE AMOUNT OF SILVER STANDING AT THE COMEX.

In ounces AT THE COMEX, the OI is still represented by just OVER 1 BILLION oz i.e. 1.001 BILLION TO BE EXACT or 143% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT DECEMBER MONTH/ THEY FILED: 198 NOTICE(S) FOR 990,000 OZ OF SILVER

In gold, the open interest FELL BY FAIR SIZED 1842 CONTRACTS DOWN TO 451,195 WITH THE TINY SIZED FALL  IN PRICE OF GOLD YESTERDAY ($1.45).  HOWEVER,  THE TOTAL NUMBER OF GOLD EFP’S ISSUED YESTERDAY FOR TODAY  TOTALED ANOTHER  7,704 CONTRACTS OF WHICH THE MONTH OF DECEMBER SAW 0 CONTRACTS AND FEB SAW THE ISSUANCE OF 7704 CONTRACTS. The new OI for the gold complex rests at 451,195. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE WITNESS THE HUGE NUMBER OF EFP TRANSFERS TOGETHER WITH THE MASSIVE AMOUNT OF GOLD OUNCES STANDING FOR DECEMBER. EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK  TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD.  THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX  HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER AND ON TOP OF THAT IT IS TAKING A FURTHER 13 WEEKS TO OBTAIN PHYSICAL FROM THE POINT WHEN FORWARDS BECOME DUE. IN ESSENCE WE HAVE A HUGE GAIN OF 7411 OI CONTRACTS: 1842 OICONTRACTS LEFT THE  COMEX  BUT  7704 OI CONTRACTS NAVIGATED OVER TO LONDON. THE CME HAS BEEN VERY TARDY IN THEIR REPORTING OF EFP ISSUANCE.  THEY ARE IMMEDIATELY REMOVING COMEX OPEN INTEREST NUMBERS BUT DELAYING RELEASE OF EFP’S FOR 24 HOURS OR GREATER AS NO DOUBT THEY ARE NEGOTIATING WITH THE LONGS FOR A FIAT BONUS.

FRIDAY, WE HAD 5,694 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DECEMBER STARTING WITH FIRST DAY NOTICE:  107,825 CONTRACTS OR 10.783 MILLION OZ OR 335.00 TONNES(8 TRADING DAYS AND THUS AVERAGING:13.478 EFP CONTRACTS PER TRADING DAY OR 1.3478 MILLION OZ/DAY)

Result: A TINY SIZED DECREASE IN OI WITH THE FALL IN PRICE IN GOLD TRADING  YESTERDAY ($1.45). WE  HAD A LARGE  NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 7704. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX AND YET WE REACHED THE HUGE DELIVERY MONTH OF DECEMBER. I GUESS IT EXPLAINS THE HUGE ISSUANCE OF EFP’S…THERE IS HARDLY ANY GOLD PRESENT AT THE GOLD COMEX FOR DELIVERY PURPOSES.  IF YOU TAKE INTO ACCOUNT THE 7704 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 5862  contracts:

7704 CONTRACTS MOVE TO LONDON AND 1842 CONTRACTS LEFT THE  COMEX.

we had:  207  notice(s) filed upon for 20,700 oz of gold.

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

GLD:

Today, SURPRISINGLY NO CHANGES in gold inventory at the GLD/

Inventory rests tonight: 842.81 tonnes.

SLV

 

OH OH!!/ WITH SILVER DOWN AGAIN TODAY BY 11 CENTS/WE HAD ANOTHER HUGE INVENTORY GAIN OF 1,415,000 OZ.  SILVER HAS BEEN DOWN  FOR 10 CONSECUTIVE DAYS AND YET SLV INVENTORY RISES??/

INVENTORY RESTS AT 326.714 MILLION OZ/

oh oh!!!TODAY WE HAD ANOTHER HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A ‘DEPOSIT” OF 944,000 OZ DESPITE THE CONSTANT RAID ON SILVER. SILVER HAS BEEN DOWN 9 STRAIGHT TRADING DAYS.

INVENTORY RESTS AT 325.299 MILLION OZ

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

1. Today, we had the open interest in silver ROSE BY A HUGE  3715 contracts from 196,556 UP  TO 200,271 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE TINY FALL IN PRICE OF SILVER AND CONTINUAL BOMBARDMENT (A FALL OF 4 CENTS ). HOWEVER,OUR BANKERS  USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER HUGE  2940  PRIVATE EFP’S FOR MARCH (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM).  EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  WE HAD ZERO COMEX SILVER COMEX LIQUIDATION. ON TOP OF THIS, IF WE TAKE THE OI GAIN AT THE COMEX 3715 CONTRACTS TO THE 2940 OI TRANSFERRED TO LONDON THROUGH EFP’S  WE OBTAIN A NET GAIN OF  6655  OPEN INTEREST CONTRACTS, AND YET WE STILL HAVE A  HUGE AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN DECEMBER (SEE BELOW). THE NET GAIN TODAY IN OZ: 33.27 MILLION OZ!!! 

RESULT: A HUGE SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE  4 CENT FALL IN PRICE (WITH RESPECT TO FRIDAY’S TRADING).  BUT WE ALSO  HAD ANOTHER 2940 EFP’S ISSUED TRANSFERRING  COMEX LONGS OVER TO LONDON . TOGETHER WITH THE HUGE AMOUNT OF SILVER OUNCES STANDING FOR DECEMBER, DEMAND FOR PHYSICAL SILVER INTENSIFIES DESPITE THE CONSTANT RAIDS.

(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 DOWN 41.38 points or 1.25% /Hang Sang CLOSED DOWN 171.41 pts or 0.59% / The Nikkei closed DOWN 72.56 POINTS OR 0.32%/Australia’s all ordinaires CLOSED UP 0.19%/Chinese yuan (ONSHORE) closed DOWN at 6.6187/Oil UP to 58.86 dollars per barrel for WTI and 65.68 for Brent. Stocks in Europe OPENED ALL IN THE GREEN EXCEPT SPAIN. ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.6189. OFFSHORE YUAN CLOSED DOWN AGAINST  THE ONSHORE YUAN AT 6.6272 //ONSHORE YUAN SLIGHTLY WEAKER AGAINST THE DOLLAR/OFF SHORE MUCH WEAKER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  WEAKER AGAINST ALL MAJOR CURRENCIES. CHINA IS NOT VERY HAPPY TODAY.(WEAK MARKETS)

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