WEDNESDAY IS OPTION’S EXPIRY IN LONDON AND THUS THE REASON FOR BANKER RAID TODAY

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by Harvey Organ, Harvey Organ Blog:

GOLD DOWN $11.25 TO $1341.75/SILVER IS DOWN 26 CENTS TO $17.16/GOLD EFP’S ISSUED:4123 CONTRACTS/SILVER EFP’S ISSUED: 2304/CFTC CHARGE 6 TRADERS WITH SPOOFING IN GOLD AND SILVER TRADING/USA 10 YR BOND YIELD CLIMBS ABOVE 2.71%/MCCABE RESIGNS EFFECTIVE IMMEDIATELY/HUGE NUMBER OF SWAMP STORIES TODAY

GOLD: $1341.75 DOWN $11.25

Silver: $17.16 DOWN 26 cents

Closing access prices:

Gold $1340.20

silver: $17.16

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: $1356.69 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1348.90

PREMIUM FIRST FIX: $7.79

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SECOND SHANGHAI GOLD FIX: $1361.25

NY GOLD PRICE AT THE EXACT SAME TIME: $134.35

Premium of Shanghai 2nd fix/NY:$12.90

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1348.40

NY PRICING AT THE EXACT SAME TIME: $1347.70

LONDON SECOND GOLD FIX 10 AM: $1343.85

NY PRICING AT THE EXACT SAME TIME. $1343.35

For comex gold:

JANUARY/

NUMBER OF NOTICES FILED TODAY FOR JANUARY CONTRACT: 0 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: 729 for 3,645,000 oz

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Bitcoin: BID $11,057/OFFER $11,155  UP $145 (morning)

Bitcoin: BID/   $11,194/   $11,297 offer UP $284  (CLOSING/5 PM)

 

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EXPECT SOME TORMENT IN BOTH GOLD AND SILVER FOR TWO MORE DAYS AS WE HAVE LONDON BASED OPTIONS EXPIRING AT AROUND 11 AM WEDNESDAY.

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 3591 contracts from 204,418 FALLING TO 200,827 WITH FRIDAY’S 21 CENT FALL IN SILVER PRICING.  OBVIOUSLY WE HAD SOME COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  2304 EFP’S FOR MARCH AND AND ZERO FOR ALL  OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 2304 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 2304 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:

45,714 CONTRACTS (FOR 20 TRADING DAYS TOTAL 45,714 CONTRACTS OR 228.570 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:  228.6 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 32.7% OF ANNUAL GLOBAL PRODUCTION

RESULT: A FAIR SIZED LOSS IN OI COMEX WITH THE 21 CENT FALL IN SILVER PRICE.  WE HOWEVER HAD A GOOD SIZED EFP ISSUANCE OF 2304 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 2304 EFP’S WERE ISSUED FOR TODAY  FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE REALLY LOST 1287 OI CONTRACTS i.e. 2304 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 3591  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 21 CENTS AND A CLOSING PRICE OF $17.42 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. 1.004 BILLION TO BE EXACT or 143% 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 LARGE 7895 CONTRACTS DOWN TO 565,240 WITH THE GOOD SIZED FALL IN PRICE OF GOLD WITH FRIDAY’S TRADING ($11.00). IN ANOTHER DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FOR MONDAY AND IT TOTALED A SMALLER SIZED  4123 CONTRACTS OF WHICH FEBRUARY SAW 2912 CONTRACTS ISSUED AND  APRIL SAW THE ISSUANCE OF 1211 CONTRACTS.    The new OI for the gold complex rests at 565,240. 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 3772 CONTRACTS: 7895 OI CONTRACTS DECREASED AT THE COMEX AND A SMALL SIZED  4123 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: 197,786 CONTRACTS OR 19.779 MILLION OZ OR 615.20 TONNES(20 TRADING DAYS AND THUS AVERAGING: 9,889 EFP CONTRACTS PER TRADING DAY OR 988,900 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: 615 TONNES

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

THUS EFP TRANSFERS REPRESENTS 615/2200 TONNES =  27.95% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JANUARY ALONE.

Result: A  GOOD SIZED DECREASE IN OI AT THE COMEX WITH THE FAIR SIZED FALL IN PRICE IN GOLD TRADING ON FRIDAY ($11.00). 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: 4123 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 4123 EFPCONTRACTS ISSUED, WE HAD A NET LOSS IN OPEN INTEREST OF 3772 contracts ON THE TWO EXCHANGES:

4123 CONTRACTS MOVE TO LONDON AND  7895 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the LOSS in total oi equates to 11.73 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 down another $11.25, we had a big changes in gold inventory at the GLD/a withdrawal of 1.18 tonnes of gold/

Inventory rests tonight: 848.14 tonnes.

SLV/ 

A NO CHANGES IN SILVER INVENTORY 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 CONSIDERABLE 3591 contracts from 204,418 DOWN TO 200,827 (AND now A LITTLE FURTHER FROM  THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH  THE FAIR SIZED LOSS  IN PRICE OF SILVER  (21 CENTS WITH RESPECT TO  YESTERDAY’S TRADING).   OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER GOOD 2245 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 ZERO COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE  OI LOSS AT THE COMEX OF  3591 CONTRACTS TO THE 2304 OI TRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A LOSS OF 1287 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: 6.435 MILLION OZ!!!

RESULT: A FAIR SIZED DECREASE IN SILVER OI AT THE COMEX WITH THE FAIR SIZED LOSS  OF 13 CENTS IN PRICE (WITH RESPECT TO FRIDAY’S TRADING). BUT WE ALSO HAD ANOTHER STRONG 2304 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 SUNDAY night/MONDAY morning: Shanghai closed DOWN 35.13 points or 0.99% /Hang Sang CLOSED DOWN 187.23 pts or 0.56% / The Nikkei closed DOWN 2.54 POINTS OR 0.01%/Australia’s all ordinaires CLOSED UP 0.37%/Chinese yuan (ONSHORE) closed DOWN at 6.3319/Oil UP to 65.71 dollars per barrel for WTI and 69.76 for Brent. Stocks in Europe OPENED MIXED TO RED .   ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.3319. OFFSHORE YUAN CLOSED DOWN AGAINST  THE ONSHORE YUAN AT 6.3407//ONSHORE YUAN MUCH WEALER AGAINST THE DOLLAR/OFF SHORE MUCH WEAKER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  MUCH STRONGER AGAINST ALL MAJOR CURRENCIES. CHINA IS NOT HAPPY TODAY.(WEAKER CURRENCY AND WEAK MARKETS )

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