by Harvey Organ, Harvey Organ Blog:

GOLD EFP ISSUANCE: 2746 CONTRACTS/SILVER EFP ISSUANCE 1755 CONTRACTS/GOLD HAS NOW STARTED TO MOVE BACK INTO GLD: TODAY WITH GOLD DOWN $1.15 WE HAD AN ADDITION OF 1.47 TONNES/IN THE SLV: WITH SILVER DOWN 10 CENTS, WE HAD 1.315 MILLION OZ ADDED/ IN CHINA, ONE OF THE BIGGEST CONGLOMERATES HAS BEEN TAKEN OVER BY THE GOVERNMENT AS THERE ARE SYSTEMIC RISKS DUE TO ITS HIGH DEBT/TURKEY THREATENS A CYPRIOT OIL TANKER IN CYPRIOT WATERS AS TENSIONS RIS

GOLD: $1328.80 down $1.15

Silver: $16.52 DOWN 10 cents

Closing access prices:

Gold $1329.10

silver: $16.53

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: $1335.15 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1328.80

PREMIUM FIRST FIX: $6.35

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SECOND SHANGHAI GOLD FIX: $1337.63

NY GOLD PRICE AT THE EXACT SAME TIME: $1326.90

discount of Shanghai 2nd fix/NY:$10.73

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LONDON FIRST GOLD FIX: 5:30 am est $1328.90

NY PRICING AT THE EXACT SAME TIME: $1329.10

LONDON SECOND GOLD FIX 10 AM: $1328.90

NY PRICING AT THE EXACT SAME TIME. $1328.10

For comex gold:

FEBRUARY/

NUMBER OF NOTICES FILED TODAY FOR FEBRUARY CONTRACT: 16 NOTICE(S) FOR 1600 OZ.

TOTAL NOTICES SO FAR:1800 FOR 180,000 OZ (5.5980 TONNES),

For silver:

FEBRUARY

1 NOTICE(S) FILED TODAY FOR

5000 OZ/

Total number of notices filed so far this month: 387 for 1,935,000 oz

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Bitcoin: BID $10,162/OFFER $10,233: UP $362(morning)

Bitcoin: BID/ $9,932/offer $10,002: DOWN $132  (CLOSING/5 PM)

 

end

Let us have a look at the data for today\

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In silver, the total open interest FELL BY A CONSIDERABLE SIZED 3176 contracts from 201,946  FALLING TO 198,429 DESPITE  YESTERDAY’S TINY 1 CENT LOSS IN SILVER PRICING.  WE HAD CONSIDERABLE COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER FAIR SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  1255 EFP’S FOR MARCH AND AND 500 EFP’S FOR MAY AND ZERO FOR ALL  OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 1199 CONTRACTS.  WITH THE TRANSFER OF 1755 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. THE 1755 CONTRACTS TRANSLATES INTO 8.755 MILLION OZ DESPITE  WITH THE CONTINUAL DROP IN OPEN INTEREST IN SILVER AT THE COMEX.

ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF FEBRUARY:

43,223 CONTRACTS (FOR 17 TRADING DAYS TOTAL 43,223 CONTRACTS OR 216.115 MILLION OZ: AVERAGE PER DAY: 2543 CONTRACTS OR 12.712 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  216.115 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 30.85% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:  464.65 MILLION OZ.

ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ

RESULT: A CONSIDERABLE SIZED LOSS IN OI SILVER COMEX DESPITE THE TINY 1 CENT LOSS IN SILVER PRICE.  WE ALSO HAD A GOOD SIZED EFP ISSUANCE OF 1755 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 1755 EFP’S  FOR  MONTHS MARCH AND MAY WERE ISSUED FOR TODAY  FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS.   WE LOST  1421 OICONTRACTS i.e. 1755 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 3176  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 1 CENT AND A CLOSING PRICE OF $16.62 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A FAIR 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. 0.992 BILLION TO BE EXACT or 142% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT FEBRUARY MONTH/ THEY FILED: 0 NOTICE(S) FOR NIL OZ OF SILVER

In gold, the open interest  ROSE BY 0 CONTRACTS REMAINING AT 524,449 DESPITE THE TINY RISE IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($0.90). HOWEVER, IN ANOTHER DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FOR FRIDAY AND IT TOTALED AN SMALL SIZED  2746 CONTRACTS OF WHICH  APRIL SAW THE ISSUANCE OF 2746 CONTRACTS AND  JUNE SAW THE ISSUANCE OF 0 CONTRACTS AND THEN ALL OTHER MONTHS ZERO.    The new OI for the gold complex rests at 524,449. 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. 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 FEBRUARY 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 DESPITE YESTERDAY’S TRADING IN GOLD,  WE HAVE A GAIN OF 2746  CONTRACTS: 0 OI CONTRACTS INCREASED AT THE COMEX AND A SMALL SIZED  2746 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.(2746 oi gain in CONTRACTS EQUATES TO 8.541TONNES)

YESTERDAY, WE HAD 9751 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF FEBRUARY STARTING WITH FIRST DAY NOTICE: 184,719 CONTRACTS OR 18,471,900  OZ OR 574.52 TONNES (17 TRADING DAYS AND THUS AVERAGING: 10,865EFP CONTRACTS PER TRADING DAY OR 1,086,500 OZ/ TRADING 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: 574.52 TONNES

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

THUS EFP TRANSFERS REPRESENTS 574.52/2200 x 100% TONNES =  26.11% OF GLOBAL ANNUAL PRODUCTION SO FAR IN FEBRUARY ALONE.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  1207.94 TONNES

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

Result: A  ZERO SIZED INCREASE IN OI AT THE COMEX DESPITE THE TINY RISE IN PRICE IN GOLD TRADING YESTERDAY ($0.90).  HOWEVER, WE HAD ANOTHER TINY SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 2746 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED.   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 2746 EFPCONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 2746 contracts ON THE TWO EXCHANGES:

2746 CONTRACTS MOVE TO LONDON AND  0 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 8.54 TONNES).

we had: 16 notice(s) filed upon for 1600 oz of gold.

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

GLD

WITH GOLD DOWN $1.15 : A BIG CHANGE IN GOLD INVENTORY AT THE GLD/ANOTHER DEPOSIT OF 1.47 TONNES OF GOLD INTO THE GLD

Inventory rests tonight: 829.26 tonnes.

SLV/

WITH SILVER DOWN 10 CENTs TODAY: 

ANOTHER BIG CHANGES IN SILVER INVENTORY AT THE SLV/A DEPOSIT OF 1.315 MILLION OZ

/INVENTORY RESTS AT 316.590 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 3176  contracts from 201,946 DOWN TO 198,429 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE  THE TINY SIZED FALL  IN PRICE OF SILVER  (1 CENT WITH RESPECT TO  YESTERDAY’S TRADING).   OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER GOOD 1255 PRIVATE EFP’S FOR MARCH AND 500 EFP CONTRACTS OR MAY  (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 CONSIDERABLE COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE  OI LOSS AT THE COMEX OF  3176 CONTRACTS TO THE 1755 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A SMALL LOSS OF 1421  OPEN INTEREST CONTRACTS .  WE STILL HAVE A GOOD AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN FEBRUARY (SEE BELOW). THE NET LOSS TODAY IN OZ ON THE TWO EXCHANGES:  7.105 MILLION OZ!!!

RESULT: A CONSIDERABLE SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE TINY  FALL OF 1 CENT IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING ). BUT WE ALSO HAD ANOTHER GOOD 1755 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)

.

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 20.46 POINTS OR 0.63% /Hang Sang CLOSED UP 311.49 POINTS OR 0.97% / The Nikkei closed UP 156.37 POINTS OR 0.72%/Australia’s all ordinaires CLOSED UP 0.78%/Chinese yuan (ONSHORE) closed UP at 6.3350/Oil UP to 62.60 dollars per barrel for WTI and 66.28 for Brent. Stocks in Europe OPENED DEEPLY IN THE RED EXCEPT GERMAN DAX  .   ONSHORE YUAN CLOSED 6.3350 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED AT 6.3310 AGAINST  THE DOLLAR/ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/ONSHORE YUAN TRADING MUCH STRONGER AGAINST THE DOLLAR AND ALL CURRENCIES. CHINA IS NOT SO HAPPY TODAY 

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