GOLD UP $8.60 TO $1254.90/SILVER IS UP 7 CENTS TO $15.92

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by Harvey Organ, Harvey Organ Blog:

QUEUE JUMPING IN BOTH GOLD AND SILVER COMEX/COMEX GOLD EFP’S ISSUANCE AT 17,961/COMEX SILVER EFP ISSUANCE: 1492/MORE “SWAMP” NEWS

GOLD: $1254.90 UP $8.60

Silver: $15.92 UP 7 cents

Closing access prices:

Gold $1253.20

silver: $15.91

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: $1254.20 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1243.80

PREMIUM FIRST FIX: $10.40

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SECOND SHANGHAI GOLD FIX: $1268.54

NY GOLD PRICE AT THE EXACT SAME TIME: $1256.90

Premium of Shanghai 2nd fix/NY:$11.64

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1255.60

NY PRICING AT THE EXACT SAME TIME: $1255.10

LONDON SECOND GOLD FIX 10 AM: $1251.00

NY PRICING AT THE EXACT SAME TIME. 1255.10 ???

For comex gold:

DECEMBER/

 NUMBER OF NOTICES FILED TODAY FOR DECEMBER CONTRACT:  288 NOTICE(S) FOR 28,800 OZ.

TOTAL NOTICES SO FAR: 7010 FOR 701,000 OZ (21.804 TONNES),

For silver:

DECEMBER

270 NOTICE(S) FILED TODAY FOR

1,350,000 OZ/

Total number of notices filed so far this month: 5798 for 28,990,000 oz

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Bitcoin: BID $16,138/OFFER $16,500, UP $86 (morning) 

BITCOIN : BID $16,397 :  OFFER 16,571  UP $91 (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 GOOD SIZED 3313 contracts from 202,797 RISING TO 206,110 WITH YESTERDAY’S FAIR  SIZED 20 CENT RISE IN SILVER PRICING.  WE HAD NO  COMEX LIQUIDATION AND ON TOP OF THIS, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:   1492 EFP’S FOR MARCH (AND ZERO FOR DEC AND OTHER MONTHS) AND THUS TOTAL ISSUANCE OF 1492 CONTRACTS. HOWEVER THE MOVEMENT ACROSS TO LONDON IS NOT AS SEVERE AS IN GOLD AS THERE SEEMS TO BE A MAJOR PLAYER TAKING ON THE BANKS AT THE COMEX.  STILL, WITH THE TRANSFER OF 1492 CONTRACTS, 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 2503 EFP’S FOR SILVER ISSUED.

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

31,337 CONTRACTS (FOR 10 TRADING DAYS TOTAL 31,337 CONTRACTS OR 156.68 MILLION OZ: AVERAGE PER DAY: 3,133 CONTRACTS OR 15.665 MILLION OZ/DAY)

RESULT: A GOOD SIZED RISE IN OI COMEX WITH THE  20 CENT RISE IN SILVER PRICE.  HOWEVER  WE HAD NO SILVER LIQUIDATION AT THE COMEX PLUS  A FAIR SIZED 1492 CONTRACTS  WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON THROUGH THE EFP ROUTE:  FROM THE CME DATA 1492 EFP’S  WERE ISSUED TODAY (FOR MARCH EFP’S)  FOR A DELIVERABLE CONTRACT OVER IN LONDON WITH A FIAT BONUS. IN ESSENCE THE  DEMAND FOR SILVER PHYSICAL INTENSIFIES GREATLY. WE REALLY GAINED 4805 OI CONTRACTS i.e. 1492 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 3313 OI COMEX CONTRACTS. AND ALL OF THIS INCREASED DEMAND  HAPPENED WITH THE FAIR SIZED  RISE IN PRICE OF SILVER BY 20 CENTS AND A  CLOSING PRICE OF $15.85 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. 1.032 BILLION TO BE EXACT or 147% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT DECEMBER MONTH/ THEY FILED: 270 NOTICE(S) FOR 1,350,000 OZ OF SILVER

In gold, the open interest ROSE BY WHOPPING 9533 CONTRACTS UP TO 456,151 WITH THE FAIR SIZED GAIN  IN PRICE OF GOLD YESTERDAY ($6.40).  HOWEVER,  THE TOTAL NUMBER OF GOLD EFP’S ISSUED YESTERDAY FOR TODAY  TOTALED AN UNBELIEVABLE  17,961 CONTRACTS OF WHICH THE MONTH OF DECEMBER SAW 0 CONTRACTS AND FEB SAW THE ISSUANCE OF 17,961 CONTRACTS. The new OI for the gold complex rests at 456,151. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE WITNESS THE HUMONGOUS 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 WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.  IN ESSENCE WE HAVE A HUGE GAIN OF 27,494 OI CONTRACTS: 9,533 OI CONTRACTS INCREASED AT THE  COMEX  AND THE MONSTROUS  17,961 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.

YESTERDAY, WE HAD 11,317 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DECEMBER STARTING WITH FIRST DAY NOTICE:  137,203 CONTRACTS OR 13.720 MILLION OZ OR 426.74 TONNES(10 TRADING DAYS AND THUS AVERAGING: 13,720 EFP CONTRACTS PER TRADING DAY OR 1.3720 MILLION OZ/DAY)

Result: A GOOD SIZED INCREASE IN OI WITH THE RISE IN PRICE IN GOLD TRADING  YESTERDAY ($6.40). WE  HAD A HUMONGOUS  NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 17,961. 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 17,961 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 27,494  contracts:

17,961 CONTRACTS MOVE TO LONDON AND 9533 CONTRACTS INCREASED THE  COMEX. (in tonnes, the gain yesterday equates to 85.51 which is unbelievable)

we had:  288  notice(s) filed upon for 28,800 oz of gold.

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

GLD:

Today,  A HUGE CHANGES in gold inventory at the GLD/ a deposit of 1.48 tonnes of gold into the GLD>

Inventory rests tonight: 844.29 tonnes.

SLV

A small withdrawal of 377,000 oz and that usually means to pay for fees.

INVENTORY RESTS AT 326.337 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 GOOD SIZED  3313 contracts from 202,497 UP  TO 206,110 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH THE RISE IN PRICE OF SILVER OF 20 CENTS YESTERDAY . HOWEVER,OUR BANKERS&nbs
p; USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER  1492  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 3,313 CONTRACTS TO THE 1492 OI TRANSFERRED TO LONDON THROUGH EFP’S  WE OBTAIN A NET GAIN OF  4805  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: 24.02 MILLION OZ!!! 

RESULT: A GOOD SIZED INCREASE IN SILVER OI AT THE COMEX WITH THE 20 CENT RISE IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING).  BUT WE ALSO  HAD ANOTHER 1492 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. WHAT REALLY STANDS OUT IS THE FACT THAT ON A PERCENTAGE BASIS MORE GOLD EFP’S ARE ISSUED FOR GOLD THAN IN SILVER.  SOMEBODY IS TAKING ON THE COMEX TO REMOVE WHATEVER SILVER THEY HAVE.

(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

)Late WEDNESDAY night/THURSDAY morning: Shanghai closed DOWN 10.59 points or 0.32% /Hang Sang CLOSED DOWN 55.72 pts or 0.19% / The Nikkei closed DOWN 63.62 POINTS OR 0.28%/Australia’s all ordinaires CLOSED DOWN 0.11%/Chinese yuan (ONSHORE) closed UP at 6.6080/Oil DOWN to 56.34 dollars per barrel for WTI and 62.05 for Brent. Stocks in Europe OPENED ALL RED . ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.6080. OFFSHORE YUAN CLOSED DOWN AGAINST  THE ONSHORE YUAN AT 6.6125 //ONSHORE YUAN SLIGHTLY STRONGER AGAINST THE DOLLAR/OFF SHORE STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  STRONGER AGAINST ALL MAJOR CURRENCIES. CHINA IS NOT  VERY HAPPY TODAY.(WEAK MARKETS)

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