GOLD DOWN $11.00 TO $1352.00 AFTER REBOUNDING FROM $1348//SILVER ALSO REBOUNDS NICELY FROM $17.30 TO CLOSE AT $1742

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by Harvey Organ, Harvey Organ Blog:

GOLD EFP’S FOR TODAY: 8445 CONTRACTS/EFP’S ISSUANCE FOR SILVER: 2748 CONTRACTS/THE DOLLAR CONTINUES IT DOWNWARD TRAJECTORY FINISHING JUST ABOVE 89.00/THE 10 YR USA BOND CONTINUES TO FALL WITH THE YIELD NOW AT 2.66% AND THAT IS IN DANGEROUS TERRITORY/MORE BAD NEWS FOR TRUMP AS THE 4TH QUARTER GDP FIRST READING FALLS TO 2.6% INSTEAD OF THE PROJECTED 4 TO 5%/ MORE SWAMP NEWS

GOLD: $1352.00 DOWN $11.00

Silver: $17.42 DOWN 21 cents

Closing access prices:

Gold $1350.80

silver: $17.44

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: $1361.58 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1352.20

PREMIUM FIRST FIX: $9.38

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SECOND SHANGHAI GOLD FIX: $1368.09

NY GOLD PRICE AT THE EXACT SAME TIME: $1355.75

Premium of Shanghai 2nd fix/NY:$8.30

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1354.35

NY PRICING AT THE EXACT SAME TIME: $1354.35

LONDON SECOND GOLD FIX 10 AM: $1353.15

NY PRICING AT THE EXACT SAME TIME. $1353.10

For comex gold:

JANUARY/

NUMBER OF NOTICES FILED TODAY FOR JANUARY CONTRACT: 1 NOTICE(S) FOR 100 OZ.

TOTAL NOTICES SO FAR: 696 FOR 69600 OZ (2.1648 TONNES),

For silver:

jANUARY

1 NOTICE(S) FILED TODAY FOR

5,000 OZ/

Total number of notices filed so far this month: 728 for 3,640,000 oz

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Bitcoin: BID $10,369/OFFER $10,469  DOWN $722 (morning)

 Bitcoin: BID/   $10,913/   $11,013 offer down $177  (CLOSING/4 PM)

 

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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 FAIR SIZED 1456 contracts from 205,874 FALLING TO 204,418 DESPITE YESTERDAY’S GOOD 13 CENT GAIN IN SILVER PRICING.  OBVIOUSLY WE HAD SOME COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER HUGE SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  2698 EFP’S FOR MARCH AND 50  FOR FEBRUARY(SOMEBODY BADLY NEEDS PHYSICAL AND HAS TO GO TO LONDON TO GET IT) AND ZERO FOR ALL  OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 2748 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 2748 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:

43,410 CONTRACTS (FOR 19 TRADING DAYS TOTAL 43,410 CONTRACTS OR 217.050 MILLION OZ: AVERAGE PER DAY: 2285 CONTRACTS OR 11.423 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  217.05 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 30.07% OF ANNUAL GLOBAL PRODUCTION

RESULT: A SMALL SIZED LOSS IN OI COMEX DESPITE THE 13 CENT GAIN IN SILVER PRICE.  WE HOWEVER HAD A HUGE SIZED EFP ISSUANCE OF 2748 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 FOR PHYSICAL SILVER . FROM THE CME DATA 2748 EFP’S WERE ISSUED FOR TODAY  FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE REALLY GAINED 1292 OI CONTRACTS i.e. 2748 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 1456  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE RISE IN PRICE OF SILVER OF 13 CENTS AND A CLOSING PRICE OF $17.63 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 OVER 1 BILLION oz i.e. 1.022 BILLION TO BE EXACT or 146% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JANUARY MONTH/ THEY FILED: 1 NOTICE(S) FOR 5,000 OZ OF SILVER

In gold, the open interest FELL  BY A HUMONGOUS 24,817 CONTRACTS DOWN TO 573,135 DESPITE THE GOOD SIZED RISE IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($5.80). IN ANOTHER HUGE DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FOR FRIDAY AND IT TOTALED A GOOD SIZED  8445 CONTRACTS OF WHICH FEBRUARY SAW 7766 CONTRACTS ISSUED AND  APRIL SAW THE ISSUANCE OF 679 CONTRACTS.    The new OI for the gold complex rests at 581,778. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EFP DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. DUE TO THE DELAY IN THE RELEASE OF YESTERDAY’S DATA YOU CAN BET THE FARM THAT THEY HAVE DELAYED THE RELEASE OF MANY EFPS. 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 TODAY WE HAVE A LOSS OF 16,372  CONTRACTS: 24,817 OI CONTRACTS DECREASED AT THE COMEX AND A GOOD SIZED  8445 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. EXPECT HUGE NUMBERS OF EFP’S TO BE ISSUED AS WE APPROACH FIRST DAY NOTICE IN THE GOLD FEB COMEX CONTRACT, WEDNESDAY JAN 31.2018

YESTERDAY, WE HAD 20,747 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JANUARY STARTING WITH FIRST DAY NOTICE: 193,663 CONTRACTS OR 19.366 MILLION OZ OR 602.363 TONNES(19 TRADING DAYS AND THUS AVERAGING: 10,192 EFP CONTRACTS PER TRADING DAY OR 1,019,200 OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 17 TRADING DAYS: IN  TONNES: 602 TONNES

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

THUS EFP TRANSFERS REPRESENTS 602/2200 TONNES =  27.36% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JANUARY ALONE.

Result: A  STRONG SIZED DECREASE IN OI AT THE COMEX DESPITE THE GOOD SIZED RISE IN PRICE IN GOLD TRADING ON YESTERDAY ($5.80). IT IS WITHOUT A DOUBT THAT MANY OF THE DEPARTED COMEX LONGS ARE WAITING TO RECEIVE A PRIVATE EFP CONTRACT FOR EITHER FEBRUARY OR APRIL AND THESE GUYS ARE STILL NEGOTIATING THEIR DEAL. WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 8445 AS THESE HAVE ALREADY BEEN NEGOTIATED.   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 8445 EFPCONTRACTS ISSUED, WE HAD A NET LOSS IN OPEN INTEREST OF 16,372 contracts ON THE TWO EXCHANGES:

8445 CONTRACTS MOVE TO LONDON AND  24,817 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the LOSS in total oi equates to 77.19 TONNES). ON MONDAY WE SHOULD SEE A HUGE INCREASE IN EFP’S DUE TO THE HUMONGOUS LONGS THAT HAVE DEPARTED THE COMEX AND THEY AWAIT PATIENTLY FOR THE FIAT BONUS PLUS A LONDON BASED FORWARD CONTRACT.

we had: 1 notice(s) filed upon for 100 oz of gold.

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

GLD

With gold down $11.00, we had no changes in gold inventory at the GLD/

Inventory rests tonight: 849.32 tonnes.

SLV/ 

A SMALL CHANGES IN SILVER INVENTORY AT THE SLV/ WITH SILVER UP TODAY AND YESTERDAY, THEY COULD ONLY MUSTER A GAIN OF 848,00 OZ AT THE SLV /

INVENTORY RESTS AT 313.896 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 SMALL 1456 contracts from 205,874 UP TO 204,418 (AND now A LITTLE FURTHER FROM  THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE  THE GOOD RISE  IN PRICE OF SILVER  (13 CENTS WITH RESPECT TO  YESTERDAY’S TRADING).   OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER GOOD 2748 PRIVATE EFP’S FOR MARCH AND FEBRUARY  (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 ZERO COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE  OI LOSS AT THE COMEX OF  1456 CONTRACTS TO THE 2748 OI TRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A GAIN OF 1292 OPEN INTEREST CONTRACTS.  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: 6.46 MILLION OZ!!!

RESULT: A SMALL SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE GOOD SIZED RISE  OF 13 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). BUT WE ALSO HAD ANOTHER STRONG 2748 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 THURSDAY night/FRIDAY morning: Shanghai closed UP 9.82 points or 0.28% /Hang Sang CLOSED UP 499.67 pts or 1.53% / The Nikkei closed DOWN 37.61 POINTS OR 0.16%/Australia’s all ordinaires CLOSED DOWN 0.07%/Chinese yuan (ONSHORE) closed  UP at 6.3277/Oil UP to 65.59 dollars per barrel for WTI and 70.35 for Brent. Stocks in Europe OPENED ALL GREED .   ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.3277. OFFSHORE YUAN CLOSED UP AGAINST  THE ONSHORE YUAN AT 6.3256//ONSHORE YUAN MUCH STRONGER AGAINST THE DOLLAR/OFF SHORE MUCH STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  MUCH WEAKER AGAINST ALL MAJOR CURRENCIES. CHINA IS EXTREMELY  HAPPY TODAY.(STRONG CURRENCY AND STRONG MARKETS )

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