GOLD FALLS BY $6.30 DO $1312.80/SILVER FALLS 14 CENTS TO $16.98/GOLD EFP TRANSFERS: ALMOST 5900 CONTRACTS

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by Harvey Organ, Harvey Organ Blog:

SILVER EFP’S ALMOST 1800 CONTRACTS/BOND PRICES COLLAPSE TODAY (YIELDS RISE) AS JAPAN TAPERS THEIR QE

GOLD: $1312.80 DOWN $6.30

Silver: $16.98 DOWN 14 cents

Closing access prices:

Gold $1311.80

silver: $16.94

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: $1325.13 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1318.70

PREMIUM FIRST FIX: $6.43

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SECOND SHANGHAI GOLD FIX: $1321.22

NY GOLD PRICE AT THE EXACT SAME TIME: $1318.15

Premium of Shanghai 2nd fix/NY:$3.77

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1314.05

NY PRICING AT THE EXACT SAME TIME: $1315.00

LONDON SECOND GOLD FIX 10 AM: $1311.00

NY PRICING AT THE EXACT SAME TIME. 1310.75

For comex gold:

JANUARY/

NUMBER OF NOTICES FILED TODAY FOR JANUARY CONTRACT: 13 NOTICE(S) FOR 1300 OZ.

TOTAL NOTICES SO FAR: 255 FOR 25500 OZ (0.7931 TONNES),

For silver:

jANUARY

0 NOTICE(S) FILED TODAY FOR

nil OZ/

Total number of notices filed so far this month: 507 for 2,535,000 oz

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Bitcoin: BID $14,727/OFFER $14,847 DOWN $220 (morning)

 Bitcoin: BID   14,696/OFFER  $14,817 DOWN  $240(CLOSING)

 

end

 

your humour story of the day:

 

 

Wife texts to husband on a cold winter morning:

 

“Windows frozen. Won’t open.”

  

Husband texts back:

 

“Slowly pour warm water over it and then gently tap the edges with a hammer.”

  

Wife texts back 10 minutes later:

 

“Computer really messed up now.”

 end

Let us have a look at the data for today

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In silver, the total open interest FELL BY TINY  215 contracts from 194,429 FALLING TO 194,214 WITH YESTERDAY’S 11 CENT FALL IN SILVER PRICING.  WE HAD MINIMAL COMEX LIQUIDATION BUT WITHOUT A DOUBT WE WITNESSED ANOTHER MAJOR BANK SHORT- COVERING OPERATION. NOT ONLY THAT , WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: A CONSIDERABLE 1340 EFP’S FOR MARCH (AND ZERO FOR OTHER MONTHS) AND THUS TOTAL ISSUANCE OF 1340 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 1340 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  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 AGAIN TODAY.

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

19,271 CONTRACTS (FOR 7 TRADING DAYS TOTAL 19,271 CONTRACTS OR 96.355 MILLION OZ: AVERAGE PER DAY: 2753 CONTRACTS OR 13.765 MILLION OZ/DAY)

RESULT: A SMALL SIZED GAIN IN OI COMEX DESPITE THE 11 CENT FALL IN SILVER PRICE WHICH USUALLY INDICATES HUGE BANKER SHORT-COVERING. WE ALSO HAD A FAIR SIZED  EFP ISSUANCE OF 1721 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS.  FROM THE CME DATA 1340 EFP’S WERE ISSUED FOR TODAY (FOR MARCH EFP’S AND NONE FOR ALL OTHER MONTHS) FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE REALLY GAINED 1125 OI CONTRACTS i.e. 1340 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 215  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER BY 11 CENTS AND A CLOSING PRICE OF $17.12 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A GOOD 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. 0.9710 BILLION TO BE EXACT or 139% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JANUARY MONTH/ THEY FILED: 0 NOTICE(S) FOR NIL OZ OF SILVER

In gold, the open interest ROSE BY AN SMALL SIZED 631 CONTRACTS UP TO 552,072 DESPITE THE  FALL IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($1.40). IN ANOTHER HUGE DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED YESTERDAY FOR TODAY AND IT TOTALED A GOOD SIZED  5660 CONTRACTS OF WHICH THE MONTH OF FEBRUARY SAW 5660 CONTRACTS AND APRIL SAW THE ISSUANCE OF 0 CONTRACTS.  The new OI for the gold complex rests at 552,072.DEMAND FOR GOLD INTENSIFIES GREATLY AS WE CONTINUE TO WITNESS A HUGE NUMBER OF EFP TRANSFERS TOGETHER WITH THE MASSIVE INCREASE IN GOLD COMEX OI  TOGETHER WITH  THE TOTAL AMOUNT OF GOLD OUNCES STANDING FOR JANUARY. 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 ANOTHER GOOD GAIN OF 6,291 OI CONTRACTS: 631 OI CONTRACTS INCREASED AT THE COMEX AND A GOOD SIZED 5660 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.

FRIDAY, WE HAD 6115 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JANUARY STARTING WITH FIRST DAY NOTICE: 63,265 CONTRACTS OR 6.326 MILLION OZ OR 196.76 TONNES (7 TRADING DAYS AND THUS AVERAGING: 9,037 EFP CONTRACTS PER TRADING DAY OR 903,700 OZ/DAY)

Result: A SMALL SIZED INCREASE IN OI DESPITE THE  FALL IN PRICE IN GOLD TRADING ON YESTERDAY ($1.40). WE HAD ANOTHER FAIR SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 5660. 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 5660 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 6,291 contracts:

5660 CONTRACTS MOVE TO LONDON AND  631 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the gain in total oi equates to 19.56 TONNES)

we had: 13 notice(s) filed upon for 1300 oz of gold.

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

 

No changes in gold inventory at the GLD

Inventory rests tonight: 834.86 tonnes.

SLV/ 

NO CHANGES IN SI
LVER INVENTORY AT THE SLV/

INVENTORY RESTS AT 318.423 MILLION OZ/

end

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

1. Today, we had the open interest in silver FELL BY A SMALL 215 contracts from 194,429 UP TO 194,214 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH THE FALL IN PRICE OF SILVER TO THE TUNE OF 11 CENTS   YESTERDAY.  WE HAD WITHOUT A DOUBT ANOTHER MAJOR SHORT COVERING FROM OUR BANKERS AS THEY HAVE CAPITULATED. NOT ONLY THAT BUT OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 1340 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 NO COMEX SILVER COMEX LIQUIDATION. BUT, IF WE TAKE THE SMALL OI LOSS AT THE COMEX OF 215 CONTRACTS TO THE 1340 OI TRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A GAIN OF 1125 OPEN INTEREST CONTRACTS DESPITE THE MAJOR BANKER SHORT COVERING. WE STILL HAVE A GOOD AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN JANUARY (SEE BELOW). THE NET GAIN TODAY IN OZ: 5.63 MILLION OZ!!!

RESULT: A SMALL SIZED INCREASE IN SILVER OI AT THE COMEX WITH THE FALL OF 11 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). BUT WE ALSO HAD ANOTHER 1340 EFP’S ISSUEDTRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE GOOD  SIZED AMOUNT OF SILVER OUNCES STANDING FOR JANUARY, DEMAND FOR PHYSICAL SILVER INTENSIFIES AS WE WITNESS MAJOR BANK SHORT COVERING ACCOMPANIED BY INCREASES IN GOFO AND SIFO RATES INDICATING SCARCITY.

(report Harvey)

.

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 UP 4.42 points or 0.13% /Hang Sang CLOSED UP 111.88 pts or 0.36% / The Nikkei closed UP 135.46 POINTS OR 0.57%/Australia’s all ordinaires CLOSED UP 0.08%/Chinese yuan (ONSHORE) closed DOWN at 6.5280/Oil UP to 61.92 dollars per barrel for WTI and 67.86 for Brent. Stocks in Europe OPENED ALL GREEN.   ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.5230. OFFSHORE YUAN CLOSED DOWN AGAINST  THE ONSHORE YUAN AT 6.5300 //ONSHORE YUAN  WEAKER AGAINST THE DOLLAR/OFF SHORE WEAKER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  STRONGER AGAINST ALL MAJOR CURRENCIES. CHINA IS STILL  HAPPY TODAY.(GOOD MARKETS BUT WEAKER YUAN)

 

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