GOLD DOWN $4.75 BUT SILVER HOLDS AS IT RISES BY 3 CENTS

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by Harvey Organ, Harvey Organ Blog:

HUGE 18,800 GOLD EFP’S ISSUED TO LONGS AS THEY TRANSFER THEIR LONG POSITIONS OVER FOR A LONDON FORWARD/ALMOST 3,000 COMEX LONG SILVER CONTRACTS TRANSFER FOR A SILVER LONG LONDON FORWARD/BITCOIN DROPS 1600 DOLLARS TO 1500. PER COIN/USA PAYROLLS RISE 228,000 BUT WE GET NO ADVANCE IN HOURLY WAGES WHICH IS WHAT THE FED WANTS

GOLD: $1246.50 DOWN $4.75

Silver: $15.80 UP 3 cents

Closing access prices:

Gold $1248.50

silver: $15.86

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: $1257.06 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1249.05

PREMIUM FIRST FIX: $8.01

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SECOND SHANGHAI GOLD FIX: $1257.09

NY GOLD PRICE AT THE EXACT SAME TIME: $1248.00

Premium of Shanghai 2nd fix/NY:$9.19

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1245.85

NY PRICING AT THE EXACT SAME TIME: $1245.80

LONDON SECOND GOLD FIX 10 AM: $1250.65

NY PRICING AT THE EXACT SAME TIME. 1250.50

For comex gold:

DECEMBER/

 NUMBER OF NOTICES FILED TODAY FOR DECBER CONTRACT:  62 NOTICE(S) FOR 6200 OZ.

TOTAL NOTICES SO FAR: 6095 FOR 609500 OZ (18.86 TONNES),

For silver:

DECEMBER

54 NOTICE(S) FILED TODAY FOR

270,000 OZ/

Total number of notices filed so far this month: 5285 for 26,425,000 oz

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Bitcoin: BID $14,934/OFFER $15,041, DOWN $1697 (morning) 

BITCOIN : BID $15,083 OFFER: $15908 // down $1640 (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 FELL BY A LESS THAN EXPECTED 1535 contracts from 194,631 FALLING TO 193,096 DESPITE YESTERDAY’S GOOD SIZED  19 CENT FALL IN SILVER PRICING  AND NOW WELL BELOW THE HUGE $17.25 SILVER RESISTANCE.   WE HAD SURPRISINGLY NO REAL  COMEX LIQUIDATION AS WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GIGANTIC NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE :  2951 EFP’S FOR MARCH (AND ZERO FOR DEC AND OTHER MONTHS) AND THUS TOTAL ISSUANCE OF 2951 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 3903 EFP’S FOR SILVER ISSUED.

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

22,308 CONTRACTS (FOR 6 TRADING DAYS TOTAL 22,308 CONTRACTS OR 111.54 MILLION OZ: AVERAGE PER DAY: 3,718 CONTRACTS OR 18.59 MILLION OZ/DAY)

RESULT: A SMALLER SIZED FALL IN OI COMEX DESPITE THE 19 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 2951 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 1416 OI CONTRACTS i.e. 2951 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 1535 OI COMEX CONTRACTS. AND ALL OF THIS INCREASED DEMAND  HAPPENED WITH THE FALL IN PRICE OF SILVER BY ANOTHER 19 CENTS WITH A LOW CLOSING PRICE OF $15.77 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 UNDER 1 BILLION oz i.e. 0.966 BILLION TO BE EXACT or 138% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT DECEMBER MONTH/ THEY FILED: 54 NOTICE(S) FOR 270,000 OZ OF SILVER

In gold, the open interest FELL BY A LESS THAN EXPECTED  5259 CONTRACTS DOWN TO 458,857  DESPITE THE GOOD SIZED FALL  IN PRICE OF GOLD  YESTERDAY ($12.70).  HOWEVER,  THE TOTAL NUMBER OF GOLD EFP’S ISSUED THURSDAY FOR FRIDAY  TOTALED ANOTHER GIGANTIC 18,804 CONTRACTS OF WHICH THE MONTH OF DECEMBER SAW 0 CONTRACTS AND FEB SAW THE ISSUANCE OF 18,804 CONTRACTS. The new OI for the gold complex rests at 459,616. 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 NET GAIN OF 13,545 OI CONTRACTS: 4500 OI CONTRACTS LEFT THE  COMEX  BUT  18,804 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.

YESTERDAY, WE HAD 11,871 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DECEMBER STARTING WITH FIRST DAY NOTICE:  94,427 CONTRACTS OR 9.4427 MILLION OZ OR 293.6 TONNES (6 TRADING DAYS AND THUS AVERAGING:15,737 EFP CONTRACTS PER TRADING DAY OR 1.574 MILLION OZ)

Result: A SMALLER SIZED DECREASE IN OI DESPITE THE GOOD SIZED FALL IN PRICE IN GOLD YESTERDAY ($12.70). WE  HAD A LARGE  NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 18,804. 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 18,804 EFP CONTRACTS ISSUED, WE HAD A NET GAIN OPEN INTEREST OF 13,545  contracts:

18,804 CONTRACTS MOVE TO LONDON AND 5259 CONTRACTS LEFT THE  COMEX. THE NET GAIN ON THE TWO EXCHANGES IN OZ: 1,430,000 OZ AND IN TONNES: 44.04 TONNES

we had:  62  notice(s) filed upon for 6200 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: 842.81 tonnes.

SLV

oh oh!!!TODAY WE HAD A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A ‘DEPOSIT” OF 2.642 MILLION OZ

INVENTORY RESTS AT 324.355 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 LES
S THAN EXPECTED 1535 contracts from 194,631 DOWN  TO 193,096 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE HEAVY LOSS IN PRICE OF SILVER PRICE AND CONTINUAL BOMBARDMENT (A FALL OF 19 CENTS ). HOWEVER,OUR BANKERS  USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER HUGE  2951  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 SOME COMEX SILVER COMEX LIQUIDATION. HOWEVER IF WE TAKE THE OI LOSS AT THE COMEX (1535 CONTRACTS)   TO THE 2951 OI TRANSFERRED TO LONDON THROUGH EFP’S  WE OBTAIN A NET GAIN OF  1416  OPEN INTEREST CONTRACTS, ON TOP OF THE HUGE AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN DECEMBER (SEE BELOW). THE NET GAIN TODAY IN OZ: 70.80 MILLION OZ!!! 

RESULT: A SMALLER SIZED THAN EXPECTED DECREASE IN SILVER OI AT THE COMEX DESPITE THE HEAVY 19- CENT FALL IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING).  BUT WE ALSO  HAD ANOTHER 2951 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 UP 17.93 points or .53% /Hang Sang CLOSED UP 336.66 pts or 1.19% / The Nikkei closed UP 313.05 POINTS OR 1.39%/Australia’s all ordinaires CLOSED UP 0.53%/Chinese yuan (ONSHORE) closed DOWN at 6.6213/Oil UP to 57.64 dollars per barrel for WTI and 63.16 for Brent. Stocks in Europe OPENED ALL GREEN. ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.6213. OFFSHORE YUAN CLOSED DOWN AGAINST  THE ONSHORE YUAN AT 6.6271 //ONSHORE YUAN WEAKER AGAINST THE DOLLAR/OFF SHORE WEAKER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  STRONGER AGAINST ALL MAJOR CURRENCIES. CHINA IS NOT HAPPY TODAY.

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