by Harvey Organ, Harvey Organ Blog:

GOLD DOWN 30 CENTS BUT SILVER RISES 12 CENTS TO $16.04/SILVER OPEN INTEREST CONTINUES TO RISE AND ENDS THE WEEK AT OVER 208,000 CONTRACTS/IN GOLD OVER 10,000 EFP TRANSFERS TO LONDON/IN SILVER OVER 3500 CONTRACTS TRANSFERRED/MORE SWAMP NEWS FROM THE USA

GOLD: $1254.60 down $0.30

Silver: $16.04 UP 12 cents

Closing access prices:

Gold $1255.70

silver: $16.06

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: $1266.60 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1255.20

PREMIUM FIRST FIX: $11.40

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SECOND SHANGHAI GOLD FIX: $1267.59

NY GOLD PRICE AT THE EXACT SAME TIME: $1255.55

Premium of Shanghai 2nd fix/NY:$12.04

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1257.25

NY PRICING AT THE EXACT SAME TIME: $1257.50

LONDON SECOND GOLD FIX 10 AM: $1254.60

NY PRICING AT THE EXACT SAME TIME. 1255.10

For comex gold:

DECEMBER/

 NUMBER OF NOTICES FILED TODAY FOR DECEMBER CONTRACT:  80 NOTICE(S) FOR 800 OZ.

TOTAL NOTICES SO FAR: 7090 FOR 709,000 OZ (22.052 TONNES),

For silver:

DECEMBER

29 NOTICE(S) FILED TODAY FOR

145,000 OZ/

Total number of notices filed so far this month: 5927 for 29,135,000 oz

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Bitcoin: BID $17,717/OFFER $17,837 UP $1217 (morning) 

BITCOIN : BID $17,646 :  OFFER 17,765  UP $1153 (CLOSING)

end

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 2406 contracts from 206,110 RISING TO 208,516 DESPITE YESTERDAY’S TINY  SIZED 7 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: A HUGE  3376 EFP’S FOR MARCH (AND ZERO FOR DEC AND OTHER MONTHS) AND THUS TOTAL ISSUANCE OF 3376 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 3376 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 1492 EFP’S FOR SILVER ISSUED.

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

34,713 CONTRACTS (FOR 11 TRADING DAYS TOTAL 34,713 CONTRACTS OR 173.57 MILLION OZ: AVERAGE PER DAY: 3,155 CONTRACTS OR 15.778 MILLION OZ/DAY)

RESULT: A GOOD SIZED RISE IN OI COMEX WITH THE  7 CENT RISE IN SILVER PRICE.  HOWEVER  WE HAD NO SILVER LIQUIDATION AT THE COMEX BUT WE DID HAVE   A HUGE SIZED EFP ISSUANCE OF 3376 CONTRACTS  WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS:  FROM THE CME DATA 3376 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 5782 OI CONTRACTS i.e. 3376 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 2406 OI COMEX CONTRACTS. AND ALL OF THIS INCREASED DEMAND  HAPPENED WITH THE TINY SIZED  RISE IN PRICE OF SILVER BY 7 CENTS AND A  CLOSING PRICE OF $15.92 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. 1.043 BILLION TO BE EXACT or 149% 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 FELL BY WHOPPING 5408 CONTRACTS DOWN TO 450,743 DESPITE THE GOOD SIZED GAIN  IN PRICE OF GOLD YESTERDAY ($8.60).  HOWEVER,  THE TOTAL NUMBER OF GOLD EFP’S ISSUED YESTERDAY FOR TODAY  TOTALED A CONSIDERABLE  10,561 CONTRACTS OF WHICH THE MONTH OF DECEMBER SAW 0 CONTRACTS AND FEB SAW THE ISSUANCE OF 10,561 CONTRACTS. The new OI for the gold complex rests at 450,743. 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 GOOD GAIN OF 5153 OI CONTRACTS: 5408 OI CONTRACTS DECREASED AT THE  COMEX  AND A GOOD SIZED  10,561 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.

YESTERDAY, WE HAD 17,961 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DECEMBER STARTING WITH FIRST DAY NOTICE:  147,764 CONTRACTS OR 14.776 MILLION OZ OR 459.59 TONNES(11 TRADING DAYS AND THUS AVERAGING: 13,433 EFP CONTRACTS PER TRADING DAY OR 1.3433 MILLION OZ/DAY)

Result: A GOOD SIZED DECREASE IN OI DESPITE THE RISE IN PRICE IN GOLD TRADING  YESTERDAY ($8.60). WE  HAD A GOOD SIZED  NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 10,561. 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 10,561 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 5153  contracts:

10,561 CONTRACTS MOVE TO LONDON AND A 5408 CONTRACTS DECREASED AT THE  COMEX. (in tonnes, the gain yesterday equates to 18.70 which is unbelievable)

we had:  80  notice(s) filed upon for 8000 oz of gold.

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

GLD:

Today,  NO CHANGES in gold inventory at 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 2406 contracts from 206,110 UP  TO 208,516 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE
THE TINY RISE IN PRICE OF SILVER OF 7 CENTS YESTERDAY . HOWEVER,OUR BANKERS  USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER  3376  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 2406 CONTRACTS TO THE 3376 OI TRANSFERRED TO LONDON THROUGH EFP’S  WE OBTAIN A NET GAIN OF  5782  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: 28.91 MILLION OZ!!! 

RESULT: A GOOD SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE TINY 7 CENT RISE IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING).  BUT WE ALSO  HAD ANOTHER 3376 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 THURSDAY night/FRIDAY morning: Shanghai closed DOWN 26.30.59 points or 0.80% /Hang Sang CLOSED DOWN 318.27 pts or 0.62% / The Nikkei closed DOWN 141.23 POINTS OR 0.62%/Australia’s all ordinaires CLOSED DOWN 0.15%/Chinese yuan (ONSHORE) closed DOWN at 6.6090/Oil DOWN to 57.40 dollars per barrel for WTI and 63.27 for Brent. Stocks in Europe OPENED ALL RED . ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.6090. OFFSHORE YUAN CLOSED UP AGAINST  THE ONSHORE YUAN AT 6.6060 //ONSHORE YUAN SLIGHTLY WEAKER 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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