USA 10 YR YIELD HITS 2.74% AND THEN CRASHES BACK TO 2.71% ON HAWKISH FOMC/GOLD AND SILVER RISE ON INFLATION EXPECTATIONS

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by Harvey Organ, Harvey Organ Blog:

GOLD UP $3.10 TO $1336.9 AT COMEX CLOSING TIME AND THEN SHOOTS UP ANOTHER 9.00 DOLLARS TO $1346.00/SILVER IS UP 17 CENTS TO $17.27 AT COMEX CLOSING TIME THEN SHOOTS UP TO $17.34/BANKERS ISSUE 14,404 EFP CONTRACTS TO LONGS AS A LONDON FORWARD/BANKERS ISSUE 2467 CONTRACTS TRANSFERRING LONGS OVER FOR A LONDON BASED FORWARD/HUGE SWAMP STORIES FOR YOU TONIGHT!!

GOLD: $1336.90 UP $3.10

Silver: $17.27 UP 17 cents

Closing access prices:

Gold $1344.20

silver: $17.34

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: $1347.22 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1339.70

PREMIUM FIRST FIX: $8.52

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SECOND SHANGHAI GOLD FIX: $1353.55

NY GOLD PRICE AT THE EXACT SAME TIME: $1342.85

Premium of Shanghai 2nd fix/NY:$10.70

SHANGHAI REJECTS  NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1343.35

NY PRICING AT THE EXACT SAME TIME: $1343.10

LONDON SECOND GOLD FIX 10 AM: $1345.35

NY PRICING AT THE EXACT SAME TIME. $1344.40???

For comex gold:

FEBRUARY/

NUMBER OF NOTICES FILED TODAY FOR FEBRUARY CONTRACT: 452 NOTICE(S) FOR 45200 OZ.

TOTAL NOTICES SO FAR: 452 FOR 45200 OZ (1.4059 TONNES),

For silver:

jANUARY

116 NOTICE(S) FILED TODAY FOR

580,000 OZ/

Total number of notices filed so far this month: 116 for 580,000 oz

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Bitcoin: BID $10,203/OFFER $10,080 UP $176 (morning)

Bitcoin: BID/   $9984/ $10,200 offer down 51  (CLOSING/5 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 CONSIDERABLE 2830 contracts from 201,188 FALLING TO 198,358 DESPITE YESTERDAY’S TINY  6 CENT FALL IN SILVER PRICING.  WE HAD CONSIDERABLE 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:  2467 EFP’S FOR MARCH AND AND ZERO FOR ALL  OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 2467 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 2467 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 FEBRUARY:

2467 CONTRACTS (FOR 1 TRADING DAYS TOTAL 2467 CONTRACTS OR 12.335 MILLION OZ: AVERAGE PER DAY: 2467 CONTRACTS OR 12.335 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  12.335 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 0.17% OF ANNUAL GLOBAL PRODUCTION

 

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:  248.205 MILLION OZ.

ACCUMULATION FOR JAN 2018: 236,879 MILLION OZ

 

RESULT: A CONSIDERABLE SIZED LOSS IN OI COMEX DESPITE THE  6 CENT FALL IN SILVER PRICE.  WE HOWEVER HAD A GOOD SIZED EFP ISSUANCE OF 2467 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 2467 EFP’S WERE ISSUED FOR TODAY  FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE REALLY LOST 363 OI CONTRACTS i.e. 2467 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 2830  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 6 CENTS AND A CLOSING PRICE OF $17.10 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. 0.9915 BILLION TO BE EXACT or 142% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JANUARY MONTH/ THEY FILED: 116 NOTICE(S) FOR 580,000 OZ OF SILVER

In gold, the open interest ROSE  BY A LARGE 2891 CONTRACTS UP TO 559,332 DESPITE THE GOOD SIZED FALL IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($4.85). IN ANOTHER DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FOR TODAY AND IT TOTALED A GOOD SIZED  14,404 CONTRACTS OF WHICH FEBRUARY SAW 14,404 CONTRACTS ISSUED AND  APRIL SAW THE ISSUANCE OF 0 CONTRACTS.    The new OI for the gold complex rests at 561,437. 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 GAIN OF 17,295  CONTRACTS: 2891 OI CONTRACTS INCREASED AT THE COMEX AND A STRONG SIZED  14,404 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.

YESTERDAY, WE HAD 11909 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF FEBRUARY STARTING WITH FIRST DAY NOTICE: 14,404 CONTRACTS OR 1,440,400  OZ OR 44.803 TONNES (1 TRADING DAYS AND THUS AVERAGING: 14,404 EFP CONTRACTS PER TRADING DAY OR 1,440,400 OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 1 TRADING DAYS: IN  TONNES: 44.8 TONNES

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

THUS EFP TRANSFERS REPRESENTS 44.8/2200 TONNES =  2.03% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JANUARY ALONE.

 

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  697.02 TONNES

ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018: 653.22  TONNES

Result: A  GOOD SIZED INCREASE IN OI AT THE COMEX WITH THE LARGE SIZED FALL IN PRICE IN GOLD TRADING YESTERDAY ($4.85). 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: 14,404 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 14,404 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 17,295 contracts ON THE TWO EXCHANGES:

14,404 CONTRACTS MOVE TO LONDON AND  2891 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 53.79 TONNES).

we had: 452 notice(s) filed upon for 452,200 oz of gold.

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

GLD

With gold UP  $3.10, the crooks orchestrated another big change in gold inventory at the GLD/a withdrawal of 5.32 tonnes of gold/

Inventory rests tonight: 841.35 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 2830 contracts from 201,188 DOWN TO 198,358 (AND now A LITTLE FURTHER FROM  THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE  THE SMALL SIZED LOSS  IN PRICE OF SILVER  (6 CENTS WITH RESPECT TO  YESTERDAY’S TRADING).   OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER GOOD 2467 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 MINIMAL COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE  OI LOSS AT THE COMEX OF  2830 CONTRACTS TO THE 2467 OI TRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A LOSS OF 363 OPEN INTEREST CONTRACTS.  WE STILL HAVE A GOOD AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN JANUARY (SEE BELOW). THE NET LOSS TODAY IN OZ ON THE TWO EXCHANGES: 1.815 MILLION OZ!!!

RESULT: A CONSIDERABLE SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE SMALL SIZED LOSS  OF 6 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). BUT WE ALSO HAD ANOTHER GOOD 2467 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE GOOD  SIZED AMOUNT OF SILVER OUNCES STANDING FOR FEBRUARY, 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 DOWN 7.17 points or 0.21% /Hang Sang CLOSED UP 193.68 pts or 0.86% / The Nikkei closed DOWN 193.68 POINTS OR 0.83%/Australia’s all ordinaires CLOSED UP 0.18%/Chinese yuan (ONSHORE) closed UP at 6.28897/Oil DOWN to 64.09 dollars per barrel for WTI and 68.03 for Brent. Stocks in Europe OPENED IN THE GREEN .   ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.2887. OFFSHORE YUAN CLOSED DOWN AGAINST  THE ONSHORE YUAN AT 6.2887//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 HAPPY TODAY.(STRONGER CURRENCY BUT STILL  WEAK MARKETS )

 

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