CRYPTOCURRENCIES CRUSHED WITH BITCOIN FALLING TO $10,480

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by Harvey Organ, Harvey Organ Blog:

GOLD WITHSTANDS BANKER ATTACK AND RISES $2.30 TO $1336.75/SILVER RISES 5 CENTS TO $17.20/ EFP ISSUANCE FOR GOLD”:7163 CONTRACTS AS THESE MORPH INTO LONDON BASED FORWARDS/SILVER ISSUANCE; 483 CONTRACTS/INTERESTING SWAMP STORIES FOR TODAY

GOLD: $1336.75 UP $2.30

Silver: $17.20 UP 5 cents

Closing access prices:

Gold $1338.50

silver: $17.20

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: $1348.63 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1341.00

PREMIUM FIRST FIX: $7.63

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SECOND SHANGHAI GOLD FIX: $1346.42

NY GOLD PRICE AT THE EXACT SAME TIME: $1339.32

Premium of Shanghai 2nd fix/NY:$7.16

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1334.95

NY PRICING AT THE EXACT SAME TIME: $1334.65

LONDON SECOND GOLD FIX 10 AM: $1333.85

NY PRICING AT THE EXACT SAME TIME. $1333.10

For comex gold:

JANUARY/

NUMBER OF NOTICES FILED TODAY FOR JANUARY CONTRACT: 12 NOTICE(S) FOR 1200 OZ.

TOTAL NOTICES SO FAR: 449 FOR 44900 OZ (1.3965 TONNES),

For silver:

jANUARY

31 NOTICE(S) FILED TODAY FOR

155,000 OZ/

Total number of notices filed so far this month: 573 for 2,865,000 oz

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Bitcoin: BID $12,319/OFFER $12,429 DOWN $1225 (morning)

 Bitcoin: BID   10,480/OFFER  $10,586 DOWN  $3086(CLOSING)

 

end

Let us have a look at the data for today

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In silver, the total open interest ROSE BY A HUGE 3979 contracts from 196,444 RISING TO 200,423 WITH FRIDAY’S 20 CENT RISE IN SILVER PRICING.  WE HAD NO COMEX LIQUIDATION BUT WITHOUT A DOUBT WE WITNESSED ANOTHER FAILED MAJOR BANK SHORT- COVERING OPERATION ON FRIDAY. NOT ONLY THAT , WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER SMALL SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  483 EFP’S FOR MARCH AND ZERO FOR OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 483 CONTRACTS. HOWEVER THE MOVEMENT ACROSS TO LONDON IS NOT AS SEVERE AS IN GOLD AS THERE SEEMS TO BE  MAJOR PLAYERS WILLING TO TAKE ON THE BANKS AT THE COMEX. STILL, WITH THE TRANSFER OF 483 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. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24 HRS IN THE ISSUING OF EFP’S.

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

24,244 CONTRACTS (FOR 11 TRADING DAYS TOTAL 24,244 CONTRACTS OR 121.220 MILLION OZ: AVERAGE PER DAY: 2204 CONTRACTS OR 11.020 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  121.220 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 19.04% OF ANNUAL GLOBAL PRODUCTION

RESULT: A HUGE SIZED GAIN IN OI COMEX WITH THE GOOD 20 CENT RISE IN SILVER PRICE WHICH USUALLY INDICATES ANOTHER FAILED BANKER SHORT-COVERING. WE ALSO HAD A SMALL SIZED EFP ISSUANCE OF 483 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. SPECULATORS WERE MORE INTERESTED IN ATTACKING THE SILVER COMEX INSTEAD OF MOVING THEIR LONGS TO LONDON. FROM THE CME DATA 484 EFP’SWERE ISSUED FOR TODAY  FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE REALLY GAINED 4462 OI CONTRACTS i.e. 483 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 3979  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE RISE IN PRICE OF SILVER OF 20 CENTS AND A CLOSING PRICE OF $17.15 WITH RESPECT TO FRIDAY’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 OVER 1 BILLION oz i.e. 1.0020 BILLION TO BE EXACT or 140% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JANUARY MONTH/ THEY FILED: 31 NOTICE(S) FOR 155000 OZ OF SILVER

In gold, the open interest ROSE BY A CONSIDERABLE 10,992 CONTRACTS UP TO 574,992 WITH THE SOLID  RISE IN PRICE OF GOLD WITH FRIDAY’S TRADING ($11.65). IT LOOKS LIKE OUR BANKERS STARTED TO COVER THEIR GOLD SHORTS IN A SIMILAR FASHION TO WHAT WE ARE WITNESSING IN SILVER. IN ANOTHER HUGE DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FRIDAY FOR MONDAY AND IT TOTALED A GOOD SIZED  7163 CONTRACTS OF WHICH THE MONTH OF FEBRUARY SAW 7163 CONTRACTS AND APRIL SAW THE ISSUANCE OF 0 CONTRACTS   The new OI for the gold complex rests at 574,992. 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 COMEX. 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 18,155 OI CONTRACTS: 10,992 OI CONTRACTS INCREASED AT THE COMEX AND A GOOD SIZED 7163 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.

FRIDAY, WE HAD 11170 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JANUARY STARTING WITH FIRST DAY NOTICE: 98,765 CONTRACTS OR 9.8765 MILLION OZ OR 307.20 TONNES (11 TRADING DAYS AND THUS AVERAGING: 8,978 EFP CONTRACTS PER TRADING DAY OR 8,978 OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 11 TRADING DAYS: IN  TONNES: 307 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2200 TONNES

THUS EFP TRANSFERS REPRESENTS 307/2200 TONNES =  13.95% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JANUARY ALONE.

Result: A CONSIDERABLE SIZED INCREASE IN OI AT THE COMEX DESPITE THE SOLID  RISE IN PRICE IN GOLD TRADING ON YESTERDAY ($11.65). WE HAD ANOTHER FAIR SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 7163. 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 7163 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 18,155 contracts ON THE TWO EXCHANGES:

7163 CONTRACTS MOVE TO LONDON AND  10,992 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the gain in total oi equates to 56.47 TONNES)

we had: 12 notice(s) filed upon for 1200 oz of gold.

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

GLD

With gold up again today, we had no changes in inventory from the GLD:

Inventory rests tonight: 828.96 tonnes.

SLV/ 

NO CHANGES IN SILVER INVENTORY AT THE SLV/

INVENTORY RESTS AT 316.348 MILLION OZ/

end

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

1. Today, we had the open interest in silver ROSE BY A CONSIDERABLE 3979 contracts from 196,444 UP TO 200,423 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH  THE GOOD RISE IN PRICE OF SILVER TO THE TUNE OF 20 CENTS WITH RESPECT TO  FRIDAY’S TRADING.  WE HAD WITHOUT A DOUBT ANOTHER FAILED  SHORT COVERING FROM OUR BANKERS AS THEY HAVE CAPITULATED.HOWEVER THIS TIME THEY WERE JOINED BY GOLD. NOT ONLY THAT BUT OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER SMALL 483 PRIVATE EFP’S FOR MARCH (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM) AND 0 EFP’S FOR ALL OTHER MONTHS .  EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. WE HAD NO COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE  OI GAIN AT THE COMEX OF 43979 CONTRACTS TO THE 483 OITRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A GAIN OF 4462 OPEN INTEREST CONTRACTS IN CONJUNCTION WITH ANOTHER FAILED  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 ON THE TWO EXCHANGES: 22.31 MILLION OZ!!!

RESULT: A STRONG SIZED INCREASE IN SILVER OI AT THE COMEX WITH THE SOLID RISE OF 20 CENTS IN PRICE (WITH RESPECT TO FRIDAY’S TRADING). BUT WE ALSO HAD ANOTHER 483 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)

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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 MONDAY night/TUESDAY morning: Shanghai closed UP 26.11 points or 0.77% /Hang Sang CLOSED UP 565.88 pts or 1.87% / The Nikkei closed UP 236.93 POINTS OR 1.00%/Australia’s all ordinaires CLOSED DOWN 0.35%/Chinese yuan (ONSHORE) closed WELL UP at 6.4422/Oil UP to 63.95 dollars per barrel for WTI and 69.38 for Brent. Stocks in Europe OPENED GREEN EXCEPT LONDON.   ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.4422. OFFSHORE YUAN CLOSED UP AGAINST  THE ONSHORE YUAN AT 6.4388 //ONSHORE YUAN MUCH STRONGER AGAINST THE DOLLAR/OFF SHORE STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  MUCH WEAKER AGAINST ALL MAJOR CURRENCIES. CHINA IS STILL  HAPPY TODAY.(GOOD MARKETS )

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