GOLD RISES ANOTHER $2.20 UP TO $1338.95/SILVER DOWN 3 CENTS

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by Harvey Organ, Harvey Organ Blog:

GOLD AND SILVER WHACKED IN THE ACCESS MARKET/GOLD REGISTERS A REMARKABLE 23,183 EFP CONTRACTS TRANSFERRING FROM THE GOLD COMEX FOR LONDON BASED FORWARDS/SILVER REGISTERS A HUGE 7310 EFP CONTRACT TRANSFERS TO LONDON/MORE SWAMP STORIES

GOLD: $1338.95 UP $2.20

Silver: $17.17 DOWN 3 cents

Closing access prices:

Gold $1327.00

silver: $17.00

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: $1346.38 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1338.80

PREMIUM FIRST FIX: $7.58

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SECOND SHANGHAI GOLD FIX: $1342.50

NY GOLD PRICE AT THE EXACT SAME TIME: $1333.25

Premium of Shanghai 2nd fix/NY:$9.25

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1337.35

NY PRICING AT THE EXACT SAME TIME: $1336.65

LONDON SECOND GOLD FIX 10 AM: $1335.65

NY PRICING AT THE EXACT SAME TIME. $1335.00

For comex gold:

JANUARY/

NUMBER OF NOTICES FILED TODAY FOR JANUARY CONTRACT: 0 NOTICE(S) FOR NIL OZ.

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

For silver:

jANUARY

52 NOTICE(S) FILED TODAY FOR

260,000 OZ/

Total number of notices filed so far this month: 625 for 3,125,000 oz

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Bitcoin: BID $10,088/OFFER $10,193 DOWN $1255 (morning)

 Bitcoin: BID   11,186/OFFER  $11,294 DOWN  $160(CLOSING)

 

end

Let us have a look at the data for today

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In silver, the total open interest FELL BY A RATHER LARGE  3912 contracts from 200,423 FALLING TO 196,511 DESPITE YESTERDAY’S 5 CENT RISE IN SILVER PRICING.  WE HAD CONSIDERABLE COMEX LIQUIDATION BUT WITHOUT A DOUBT WE WITNESSED ANOTHER FAILED MAJOR BANK SHORT- COVERING OPERATION YESTERDAY AS SPECS CONTINUE TO POUR IT ON. NOT ONLY THAT , WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GIGANTIC SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  7310 EFP’S FOR MARCH AND ZERO FOR OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 7310 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 7310 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:

31,554 CONTRACTS (FOR 12 TRADING DAYS TOTAL 31,554 CONTRACTS OR 157.770 MILLION OZ: AVERAGE PER DAY: 2629 CONTRACTS OR 13.147 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  157.77 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 22.5% OF ANNUAL GLOBAL PRODUCTION

RESULT: A LARGE SIZED LOSS IN OI COMEX DESPITE THE GOOD 5 CENT RISE IN SILVER PRICE WHICH USUALLY INDICATES ANOTHER FAILED BANKER SHORT-COVERING. WE ALSO HAD A HUGE SIZED EFP ISSUANCE OF 7310 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. SPECULATORS CONTINUED THEIR INTEREST IN ATTACKING THE SILVER COMEX . FROM THE CME DATA 7310 EFP’S WERE ISSUED FOR TODAY  FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE REALLY GAINED 3398 OI CONTRACTS i.e. 7310 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 3912  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE RISE IN PRICE OF SILVER OF 5 CENTS AND A CLOSING PRICE OF $17.20 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. 0.9860 BILLION TO BE EXACT or 141% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JANUARY MONTH/ THEY FILED: 52 NOTICE(S) FOR 260,000 OZ OF SILVER

In gold, the open interest ROSE BY A CONSIDERABLE 7341 CONTRACTS UP TO 582,333 WITH THE SOLID  RISE IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($2.30).  IN ANOTHER HUGE DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED TUESDAY FOR WEDNESDAY AND IT TOTALED A GIGANTIC SIZED  23,183 CONTRACTS OF WHICH THE MONTH OF FEBRUARY SAW 23,183 CONTRACTS AND APRIL SAW THE ISSUANCE OF 0 CONTRACTS   The new OI for the gold complex rests at 582,333. 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 MONSTROUS GAIN OF 30,530 OI CONTRACTS: 7341 OI CONTRACTS INCREASED AT THE COMEX AND AN ATMOSPHERIC SIZED  23,183 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.

YESTERDAY, WE HAD 7163 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JANUARY STARTING WITH FIRST DAY NOTICE: 121,948 CONTRACTS OR 12,194 MILLION OZ OR 379.31 TONNES(12 TRADING DAYS AND THUS AVERAGING: 10,162 EFP CONTRACTS PER TRADING DAY OR 1,016,200 OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 12 TRADING DAYS: IN  TONNES: 379 TONNES

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

THUS EFP TRANSFERS REPRESENTS 379/2200 TONNES =  17.22% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JANUARY ALONE.

Result: A HUGE SIZED INCREASE IN OI AT THE COMEX WITH THE SMALL  RISE IN PRICE IN GOLD TRADING ON YESTERDAY ($2.30). WE HAD ANOTHER ATMOSPHERIC SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 23,183. 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 23,183 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 30,530 contracts ON THE TWO EXCHANGES:

23.183 CONTRACTS MOVE TO LONDON AND  7341 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the gain in total oi equates to 100.40 TONNES)

we had: 0 notice(s) filed upon for NIL 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/

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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 3912 contracts from 200,423 DOWN TO 196,511 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE  THE FAIR SIZED RISE IN PRICE OF SILVER TO THE TUNE OF 5 CENTS WITH RESPECT TO  YESTERDAY’S TRADING.  WE HAD WITHOUT A DOUBT ANOTHER FAILED  SHORT COVERING FROM OUR BANKERS AS THEY HAVE CAPITULATED. NOT ONLY THAT BUT OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER GIGANTIC 7310 PRIVATEEFP’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 SOME COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE  OI LOSS AT THE COMEX OF 3912 CONTRACTS TO THE 7310 OITRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A GAIN OF 3398 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: 16.99 MILLION OZ!!!

RESULT: A STRONG SIZED DECREASE IN SILVER OI AT THE COMEX WITH THE SMALL RISE OF 5 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). BUT WE ALSO HAD ANOTHER 7310 EFP’S ISSUED TRANSFERRING 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 TUESDAY night/WEDNESDAY morning: Shanghai closed UP 8.07 points or 0.24% /Hang Sang CLOSED UP 78.66 pts or 0.25% / The Nikkei closed DOWN 83.47 POINTS OR 0.35%/Australia’s all ordinaires CLOSED DOWN 0.51%/Chinese yuan (ONSHORE) closed WELL UP at 6.4348/Oil UP to 63.48 dollars per barrel for WTI and 68.74 for Brent. Stocks in Europe OPENED ALL RED.   ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.4348. OFFSHORE YUAN CLOSED DOWN AGAINST  THE ONSHORE YUAN AT 6.4364 //ONSHORE YUAN MUCH STRONGER AGAINST THE DOLLAR/OFF SHORE SLIGHTLY WEAKER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  MUCH STRONGER AGAINST ALL MAJOR CURRENCIES. CHINA IS VERY  HAPPY TODAY.(GOOD MARKETS )

 

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