GOLD UP $6.50 TO $1294.50/SILVER UP 13 CENTS TO $16.84

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by Harvey Organ, Harvey Organ Blog:

GOLD EFP TRANSFERS: OVER 11,000/ SILVER EFP TRANSFERS FOR A LONDON FORWARD: OVER 2600 CONTRACTS/GOFO RATES RISE TO OVER 2.15% INDICATING SCARCITY FOR GOLD

GOLD: $1294.50 up $6.50

Silver: $16.84 up 13 cents

Closing access prices:

Gold $1294.00

silver: $16.84

For comex gold:

DECEMBER/

NUMBER OF NOTICES FILED TODAY FOR DECEMBER CONTRACT: 138 NOTICE(S) FOR 13800 OZ.

TOTAL NOTICES SO FAR: 9194 FOR 919,400 OZ (28.592 TONNES),

For silver:

DECEMBER

256 NOTICE(S) FILED TODAY FOR

1,280,000 OZ/

Total number of notices filed so far this month: 6403 for 32,015,000 oz

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Bitcoin: BID $13,577/OFFER $13,760 DOWN $1651 (morning)

BITCOIN : BID $14,994/OFFER $15,099 /DOWN $709 CLOSING

 

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 JUST TO LET YOU KNOW THAT OTC OPTIONS EXPIRE THIS FRIDAY WHICH ALSO CORRESPONDS TO FIRST DAY NOTICE FOR THE JANUARY CONTRACT FOR BOTH GOLD AND SILVER.  JANUARY IS A POOR DELIVERY MONTH FOR BOTH OF OUR METALS AND JANUARY IS ALSO NON ACTIVE FOR BOTH.

Let us have a look at the data for today

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In silver, the total open interest SURPRISINGLY FELL BY A CONSIDERABLE 3955 contracts from 200,321 FALLING TO 196,966 DESPITE YESTERDAY’S GOOD 17 CENT RISE IN SILVER PRICING. WE HAD SOME  COMEX LIQUIDATION AND WITHOUT A DOUBT THIS WAS A MAJOR BANK SHORT- COVERING OPERATION. NOT ONLY THAT , WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER HUGE SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: A MONSTROUS 2652 EFP’S FOR MARCH (AND ZERO FOR DEC AND OTHER MONTHS) AND THUS TOTAL ISSUANCE OF 2652 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 2652 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 840 EFP’S FOR SILVER ISSUED. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24 HRS IN THE ISSUING OF EFP’S. I BELIEVE THAT WE MUST HAVE HAD SOME MAJOR BANKER SHORT COVERING

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

48,003 CONTRACTS (FOR 19 TRADING DAYS TOTAL 48,003 CONTRACTS OR 240.015 MILLION OZ: AVERAGE PER DAY: 2,526 CONTRACTS OR 12.632 MILLION OZ/DAY)

TO GIVE YOU AN IDEA OF THE SIZE OF “PHYSICAL” TRANSFERRED TO LONDON: 240.015 MILLION OZ/700 MILLION OZ (EX CHINA EX RUSSIA) = 34.28% OF ANNUAL GLOBAL SILVER PRODUCTION

RESULT: A CONSIDERABLE SIZED LOSS IN OI COMEX DESPITE THE STRONG 18 CENT RISE IN SILVER PRICE WHICH USUALLY INDICATES HUGE BANKER SHORT-COVERING. WE ALSO HAD A HUGE SIZED SIZED EFP ISSUANCE OF 2656 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS.  FROM THE CME DATA 2652 EFP’S WERE ISSUED TODAY (FOR MARCH EFP’S) FOR A DELIVERABLE CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE REALLY LOST 1203 OI CONTRACTS i.e. 2652 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 3955 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE RISE IN PRICE OF SILVER BY 17 CENTS AND A CLOSING PRICE OF $16.71 WITH RESPECT TO YESTERDAY’S TRADING. 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 UNDER 1 BILLION oz i.e. 0.985 BILLION TO BE EXACT or 140% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT DECEMBER MONTH/ THEY FILED: 256 NOTICE(S) FOR 1,280,000 OZ OF SILVER

In gold, the open interest ROSE BY A SMALL SIZED 1878 CONTRACTS UP TO 458,348 DESPITE THE STRONG RISE IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($5.05). HOWEVER, THE TOTAL NUMBER OF GOLD EFP’S ISSUED YESTERDAY FOR TODAY TOTALED A HUMONGOUS  11,125 CONTRACTS OF WHICH THE MONTH OF DECEMBER SAW 0 CONTRACTS AND FEB SAW THE ISSUANCE OF 11,125 CONTRACTS. The new OI for the gold complex rests at 458,348. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE CONTINUE TO WITNESS A 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 (BIG RISE IN BOTH GOFO AND SIFO) AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES. IN ESSENCE WE HAVE A GOOD GAIN OF 13,003 OI CONTRACTS: 1878 OI CONTRACTS INCREASED AT THE COMEX AND A GOOD SIZED 11,125 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.

YESTERDAY, WE HAD 2056 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DECEMBER STARTING WITH FIRST DAY NOTICE: 216,387 CONTRACTS OR 21.6387 MILLION OZ OR 673.405 TONNES(19 TRADING DAYS AND THUS AVERAGING: 11,388 EFP CONTRACTS PER TRADING DAY OR 1.1388 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE AMOUNT OF “PHYSICAL’ TRANSFERRED SO FAR THIS MONTH: 673 TONNES/2200 TONNES = 30.59% OF ANNUAL GLOBAL PRODUCTION OF GOLD. THIS IS IMPOSSIBLE AND EXPLAINS FULLY THE FRAUD!!

Result: A SMALL SIZED INCREASE IN OI DESPITE THE GOOD SIZED RISE IN PRICE IN GOLD TRADING ON YESTERDAY ($5.05). WE HAD A HUMONGOUS SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 11,125. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX AND YET WE ALSO OBSERVED A HUGE DELIVERY MONTH FOR THE 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 11,125 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 13,003 contracts:

11,125 CONTRACTS MOVE TO LONDON AND  1879 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the gain in total oi equates to 40.44 TONNES)

we had: 138 notice(s) filed upon for 13800 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: 837.50 tonnes.

SLV/

THIS MAKES A LOT OF SENSE: SILVER UP 13 CENTS AGAIN TODAY:

ANOTHER CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1,251,000 OZ

INVENTORY RESTS AT 323.459 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 FELL BY A CONSIDERABLE SIZED 3955 contracts from 200,321 DOWN TO 196,966 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE GOOD SIZED RISE IN PRICE OF SILVER TO THE TUNE OF 17 CENTS  YESTERDAY. WE HAD WITHOUT A DOUBT A MAJOR SHORT COVERING FROM OUR BANKERS AS THEY HAVE CAPITULATED. NOT ONLY
THAT BUT OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 2652 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 CONSIDERABLE COMEX SILVER COMEX LIQUIDATION. BUT, IF WE TAKE THE OI LOSS AT THE COMEX OF 3955 CONTRACTS TO THE 2652 OI TRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A LOSS OF ONLY 1203 OPEN INTEREST CONTRACTS DESPITE THE MAJOR BANKER SHORT COVERING. WE STILL HAVE A HUGE AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN DECEMBER (SEE BELOW). THE NET LOSS TODAY IN OZ: 6.015 MILLION OZ!!!

RESULT: A GOOD SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE GOOD SIZED RISE OF 17 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). BUT WE ALSO HAD ANOTHER 2652 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

(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

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