GOLD RISES ANOTHER $12.00 TO $1315./SILVER RISES 24 CENTS TO $17.13/ANOTHER HUGE 11,000 EFP GOLD TRANSFER ACCOMPANIED BY 2600 SILVER EFP TRANSFER

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by Harvey Organ, Harvey Organ Blog:

GOLD: $1315.00 up $12.00

Silver: $17.13 up 24 cents

Closing access prices:

Gold $1318.00

silver: $17.19

For comex gold:

JANUARY/

NUMBER OF NOTICES FILED TODAY FOR JANUARY CONTRACT: 35 NOTICE(S) FOR 3500 OZ.

TOTAL NOTICES SO FAR: 172 FOR 17200 OZ (0.5349 TONNES),

For silver:

jANUARY

3 NOTICE(S) FILED TODAY FOR

15,000 OZ/

Total number of notices filed so far this month: 324 for 1,620,000 oz

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Bitcoin: BID $14,099/OFFER $14,219 DOWN $255(morning)

BITCOIN : BID $14,099/OFFER $14,219 /down $255 CLOSING

 

end

Let us have a look at the data for today

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In silver, the total open interest SURPRISINGLY FELL BY A  593 contracts from 193,821 RISING TO 193,228 DESPITE FRIDAY’S GOOD 10 CENT RISE IN SILVER PRICING.  THE OPEN INTEREST FOR SILVER WAS CORRECTED BY THE CROOKS LATE FRIDAY NIGHT. WE HAD NO  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 HUGE SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: A HUGE2765 EFP’S FOR MARCH (AND ZERO FOR OTHER MONTHS) AND THUS TOTAL ISSUANCE OF 2675 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 2675 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:

4619 CONTRACTS (FOR 2 TRADING DAYS TOTAL 4619 CONTRACTS OR 23.095 MILLION OZ: AVERAGE PER DAY: 2310 CONTRACTS OR 11.550 MILLION OZ/DAY)

RESULT: A SMALL SIZED LOSS IN OI COMEX DESPITE THE STRONG 10 CENT RISE IN SILVER PRICE WHICH USUALLY INDICATES HUGE BANKER SHORT-COVERING. WE ALSO HAD A HUGE SIZED SIZED EFP ISSUANCE OF 2675 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS.  FROM THE CME DATA 2675 EFP’S WERE ISSUED FOR TUESDAY (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 2082 OI CONTRACTS i.e. 2675 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 593 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE RISE IN PRICE OF SILVER BY 10 CENTS AND A CLOSING PRICE OF $16.94 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 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 JANUARY MONTH/ THEY FILED: 3 NOTICE(S) FOR 15,000 OZ OF SILVER

In gold, the open interest ROSE BY AN ATMOSPHERIC SIZED 21,317 CONTRACTS UP TO 492,970 WITH THE STRONG RISE IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($8.50). IN ANOTHER HUGE DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FRIDAY FOR TUESDAY AND IT TOTALED A HUMONGOUS  11,193 CONTRACTS OF WHICH THE MONTH OF FEBRUARY SAW 11,193 CONTRACTS AND APRIL SAW THE ISSUANCE OF 0 CONTRACTS. The new OI for the gold complex rests at 492,970. 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 AN ATMOSPHERIC GAIN OF 32,510 OI CONTRACTS: 21,317 OI CONTRACTS INCREASED AT THE COMEX AND A MONSTROUS SIZED 11,193 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.

FRIDAY, WE HAD 11,118 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JANUARY STARTING WITH FIRST DAY NOTICE TODAY: 22,311 CONTRACTS OR 2.2311 MILLION OZ OR 69.39 TONNES (2 TRADING DAYS AND THUS AVERAGING: 11,155 EFP CONTRACTS PER TRADING DAY OR 1.1185MILLION OZ/DAY)

Result: A MONSTROUS SIZED INCREASE IN OI WITH THE GOOD SIZED RISE IN PRICE IN GOLD TRADING ON FRIDAY ($8.50). WE HAD ANOTHER HUMONGOUS SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 11,125. 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 11,193 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 32,510 contracts:

11,193 CONTRACTS MOVE TO LONDON AND  21,317 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the gain in total oi equates to 101.11 TONNES)

we had: 35 notice(s) filed upon for 3500 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: 837.50 tonnes.

SLV/    with silver up dramatically these past 4 trading days, the following makes no sense:

A HUGE CHANGES IN SILVER INVENTORY AT THE SLV/A WITHDRAWAL OF 2.83 MILLION OZ

INVENTORY RESTS AT 320.629 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 SIZED 593 contracts from 193,827 DOWN TO 193,228 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE GOOD SIZED RISE IN PRICE OF SILVER TO THE TUNE OF 10 CENTS  YESTERDAY.  THE THURSDAY OPEN INTEREST WAS CORRECTED BY THE CME LATE FRIDAY NIGHT. WE HAD WITHOUT A DOUBT A MAJOR SHORT COVERING FROM OUR BANKERS AS THEY HAVE CAPITULATED. NOT ONLY THAT BUT OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 2675 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 SLIGHT OI LOSS AT THE COMEX OF 593 CONTRACTS TO THE 2675 OI TRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A GAIN OF 2082
 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: 10.410MILLION OZ!!!

RESULT: A GOOD SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE GOOD SIZED RISE OF 10 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). BUT WE ALSO HAD ANOTHER 2675 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

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