TURMOIL IN ALL MARKETS EXCEPT GOLD/SILVER/GOLD UP 30 CENTS TO $1334.70

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by Harvey Organ, Harvey Organ Blog:

SILVER DOWN 7 CENTS TO $16.70/DOW DOWN 1175 POINTS AND THE NASDAQ DOWN 273.42 POINTS/HUGE SANCTIONS AGAINST WELLS FARGO/HUGE AMOUNT OF SWAMP STORIES FOR YOU TONIGHT

GOLD: $1334.70 UP $0.30

Silver: $16.70 down 7 cents

Closing access prices:

Gold $1339.60

silver: $16.72

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: $1339.75 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1330.00

PREMIUM FIRST FIX: $9.75

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SECOND SHANGHAI GOLD FIX: $1344.47

NY GOLD PRICE AT THE EXACT SAME TIME: $1332.70

Premium of Shanghai 2nd fix/NY:$11.77

SHANGHAI REJECTS  NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1337.10

NY PRICING AT THE EXACT SAME TIME: $1336.00

LONDON SECOND GOLD FIX 10 AM: $1333.60

NY PRICING AT THE EXACT SAME TIME. $1333.95

For comex gold:

FEBRUARY/

NUMBER OF NOTICES FILED TODAY FOR FEBRUARY CONTRACT: 431 NOTICE(S) FOR 43100 OZ.

TOTAL NOTICES SO FAR:1302 FOR 130200 OZ (4.049 TONNES),

For silver:

jANUARY

0 NOTICE(S) FILED TODAY FOR

nil OZ/

Total number of notices filed so far this month: 124 for 620,000 oz

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Bitcoin: BID $7,518/OFFER $7,582: DOWN $1014(morning)

Bitcoin: BID/ $7167/offer $7237: down $1360  (CLOSING/5 PM)

 

end

 

Let us have a look at the data for today

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In silver, the total open interest ROSE BY GIGANTIC 6702 contracts from 202,554 (CME CORRECTED) RISING TO 209,256 DESPITE FRIDAY’S HUGE 43 CENT FALL IN SILVER PRICING.  WE OBVIOUSLY (SHOCKINGLY) HAD NO 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:  4782 EFP’S FOR MARCH AND AND 14 EFP’S FOR MAY AND ZERO FOR ALL  OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 4796 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 4796 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 4796 CONTRACTS TRANSLATES INTO 23.98 MILLION OZ

ACCUMULATION FOR EFP’S/SILVER/ STARTING FROM FIRST DAY NOTICE/FOR MONTH OF FEBRUARY:

11,342 CONTRACTS (FOR 4 TRADING DAYS TOTAL 11,342 CONTRACTS OR 56.710 MILLION OZ: AVERAGE PER DAY: 2835 CONTRACTS OR 14.175 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  56.71 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 8.10% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:  291.68 MILLION OZ.

ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ

RESULT: A HUGE SIZED GAIN IN OI SILVER COMEX DESPITE THE GIGANTIC 43 CENT FALL IN SILVER PRICE.  WE HOWEVER HAD A HUGE SIZED EFP ISSUANCE OF 4796 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 4796 EFP’S  FOR  MONTHS MARCH AND MAY WERE ISSUED FOR MONDAY  FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE REALLY GAINED 11,498 OI CONTRACTS i.e. 4796 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 6702  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 43 CENTS AND A CLOSING PRICE OF $16.77 WITH RESPECT TO FRIDAY’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 OVER 1 BILLION oz i.e. 1.046 BILLION TO BE EXACT or 149% 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 FELL  BY A TINY 704 CONTRACTS DOWN TO 548,278 (CME CORRECTED) DESPITE THE GOOD SIZED FALL IN PRICE OF GOLD WITH FRIDAY’S TRADING ($10.50). IN ANOTHER DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FOR MONDAY AND IT TOTALED A GIGANTIC SIZED  14,200 CONTRACTS OF WHICH  APRIL SAW THE ISSUANCE OF 13500 CONTRACTS AND  JUNE SAW THE ISSUANCE OF 700 CONTRACTS AND THEN ALL OTHER MONTHS ZERO.    The new OI for the gold complex rests at 548,278. 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 WE HAVE A GAIN OF 13,496  CONTRACTS: 704 OI CONTRACTS DECREASED AT THE COMEX AND A STRONG SIZED  14,200 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.(14,200 CONTRACTS EQUATES TO 41.97 TONNES)

YESTERDAY, WE HAD 6579 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF FEBRUARY STARTING WITH FIRST DAY NOTICE: 43,412 CONTRACTS OR 4,341,200  OZ OR 135.02 TONNES (4 TRADING DAYS AND THUS AVERAGING: 10,853 EFP CONTRACTS PER TRADING DAY OR 1,085,300 OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 4 TRADING DAYS: IN  TONNES: 135.02 TONNES

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

THUS EFP TRANSFERS REPRESENTS 135.02/2200 x 100% TONNES =  6.13% OF GLOBAL ANNUAL PRODUCTION SO FAR IN FEBRUARY ALONE.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  787.33 TONNES

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

Result: A SURPRISING TINY SIZED DECREASE IN OI AT THE COMEX DESPITE THE CONSIDERABLE FALL IN PRICE IN GOLD TRADING FRIDAY ($10.50). IT IS WITHOUT A DOUBT THAT MANY OF THE DEPARTED COMEX LONGS  RECEIVED THEIR PRIVATE EFP CONTRACT  FOR EITHER  APRIL OR JUNE. WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 14200 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 14,200 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 13,496 contracts ON THE TWO EXCHANGES:

14,200 CONTRACTS MOVE TO LONDON AND  704 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 41.97 TONNES).

we had: 431 notice(s) filed upon for 43100 oz of gold.

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

GLD

STRANGE, WITH ALL OF TODAY’S TURMOIL: No change in gold inventory at the GLD/

Inventory rests tonight: 841.35 tonnes.

SLV/

HUGE CHANGES IN SILVER INVENTORY AT THE SLV/ A DEPOSIT OF 1.31 MILLION OZ INTO THE SLV

/INVENTORY RESTS AT 314.045 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 ROSE BY A HUGE 6702 contracts from 202,554 (CME CORRECTED) UP TO 209,256 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE  THE FALL  IN PRICE OF SILVER  (43 CENTS WITHRESPECT TO  FRIDAY’S TRADING).   OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER GOOD 4782 PRIVATE EFP’S FOR MARCH AND 14 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 ZERO COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE  OI GAIN AT THE COMEX OF  6702 CONTRACTS TO THE 4796 OI TRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A GAIN OF 11,498  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: 57.490 MILLION OZ!!!

RESULT: A HUGE SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE HUGE SIZED FALL OF 43 CENTS IN PRICE (WITH RESPECT TO FRIDAY’S TRADING). BUT WE ALSO HAD ANOTHER GOOD 4796 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 SUNDAY night/MONDAY morning: Shanghai closed UP 25.41 points or 0.73% /Hang Sang CLOSED DOWN 356.56 or 1.09% / The Nikkei closed DOWN 592.45 POINTS OR 2.55%/Australia’s all ordinaires CLOSED DOWN 1.63%/Chinese yuan (ONSHORE) closed DOWN at 6.2915/Oil DOWN to 64.89 dollars per barrel for WTI and 67.64 for Brent. Stocks in Europe OPENED RED .   ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.2915. OFFSHORE YUAN CLOSED DOWN AGAINST  THE ONSHORE YUAN AT 6.2928//ONSHORE YUAN A LITTLE WEAKER AGAINST THE DOLLAR/OFF SHORE A LITTLE WEAKER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  MUCH STRONGER AGAINST ALL MAJOR CURRENCIES. CHINA IS NOT  TOO  HAPPY TODAY.(WEAKER CURRENCY AND WEAK MARKETS THROUGHOUT THE GLOBE )

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