GOLD REBOUNDS, UP $2.25 TO $1323.40

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by Harvey Organ, Harvey Organ Blog:

SILVER UP 21 CENTS TO $16.60/VERY STRONG JOBS REPORT AND IT SEEMS BROAD BASED/CONSUMER PRICES SPIKING IN CHINA/CHINA CONSIDERING INCREASING TARIFFS TO COUNTER THE TRUMP TARIFFS/MORE SWAMP STORIES

GOLD: $1323.40  UP $2.25

Silver: $16.60 UP 21 CENTS

Closing access prices:

Gold $1323.75

silver: $16.61

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: $1326.55 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1318.45

PREMIUM FIRST FIX: $8.10

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SECOND SHANGHAI GOLD FIX: $1329.10

NY GOLD PRICE AT THE EXACT SAME TIME: $1318.85

PREMIUM SECOND FIX /NY:$10.25

SHANGHAI REJECTS NY PRICING OF GOLD.

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LONDON FIRST GOLD FIX: 5:30 am est $1319.35

NY PRICING AT THE EXACT SAME TIME: $1319.50

LONDON SECOND GOLD FIX 10 AM: $1320.60

NY PRICING AT THE EXACT SAME TIME. $1320.85

For comex gold:

MARCH/

NUMBER OF NOTICES FILED TODAY FOR MARCH CONTRACT: 0 NOTICE(S) FOR nil OZ.

TOTAL NOTICES SO FAR:4 FOR 400 OZ

For silver:

MARCH

173 NOTICE(S) FILED TODAY FOR

865,000 OZ/

Total number of notices filed so far this month: 4727 for 23,635,000 oz

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Bitcoin: BID $8907/OFFER $8,977: DOWN $348(morning)

Bitcoin: BID/ $8947/offer $9017: DOWN $308  (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 A FAIR SIZED 796 contracts from 195,724  RISING TO 196,520  DESPITE YESTERDAY’S TINY  1 CENT FALL IN SILVER PRICING.  WE OBVIOUSLY HAD ZERO 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 : 2693 EFP’S FOR MAY AND ZERO FOR ALL  OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 2693 CONTRACTS.  WITH THE TRANSFER OF 2693 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 24-48 HRS IN THE ISSUING OF EFP’S. THE 2693 CONTRACTS TRANSLATES INTO 13.43 MILLION OZ   WITH THE RISE 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 MARCH:

18,356 CONTRACTS (FOR 7 TRADING DAYS TOTAL 18,356 CONTRACTS OR 91.780 MILLION OZ: AVERAGE PER DAY: 2622 CONTRACTS OR 13.111 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  91.780 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 13.11% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:  584.255 MILLION OZ.

ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ

ACCUMULATION FOR MONTH OF FEBRUARY: 244.945 MILLION OZ

RESULT: WE HAD A SMALL SIZED GAIN  IN COMEX OI SILVER COMEX OF 796 DESPITE THE TINY 1 CENT FALL IN SILVER PRICE.  WE ALSO HAD A GOOD SIZED EFP ISSUANCE OF 2693 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 2693 EFP’S  FOR THE  MONTH OF MAY WERE ISSUED FOR  A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS.   WE GAINED  3489 OICONTRACTS i.e. 2693 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 796  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 1 CENT AND A CLOSING PRICE OF $16.49 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. 0.982 BILLION TO BE EXACT or 140% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT FEBRUARY MONTH/ THEY FILED: 173 NOTICE(S) FOR 865,000 OZ OF SILVER

 

 

*** note in gold.  last last night, the CME released EFP’s for yesterday and today and I reversed them ie. the EFP for today is 7473 and yesterday 7106.  I will not change and it will not make a difference when the two are added.

In gold, the open interest  FELL BY A STRONG 10,663 CONTRACTS DOWN TO 497,387  WITH THE CONSIDERABLE FALL IN PRICE YESTERDAY ($5.45) HOWEVER  FOR TODAY, THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED AN GOOD SIZED  7106 CONTRACTS  THE ISSUANCE OF,  APRIL SAW THE ISSUANCE OF 7106 CONTRACTS ,  JUNE SAW THE ISSUANCE OF 0 CONTRACTS AND THEN ALL OTHER MONTHS ZERO.    The new OI for the gold complex rests at 497,387. 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  AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES. IN ESSENCE WE HAVE A HUGE LOSS OI  CONTRACTS: 10,663 OI CONTRACTS DECREASED AT THE COMEX AND A GOOD SIZED 7106 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS  TOTAL OI LOSS:  3557 CONTRACTS OR 355,700 OZ =11.06 TONNES

YESTERDAY, WE HAD 7473 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MARCH : 68,796 CONTRACTS OR 6,879,600  OZ OR 213.96 TONNES (7 TRADING DAYS AND THUS AVERAGING: 9828 EFP CONTRACTS PER TRADING DAY OR 982,800 OZ/ TRADING DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 5 TRADING DAYS IN  TONNES: 213.96 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES

THUS EFP TRANSFERS REPRESENTS 213.96/2550 x 100% TONNES =  8.39% OF GLOBAL ANNUAL PRODUCTION SO FAR IN MARCH ALONE.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  1464.33 TONNES

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

ACCUMULATION OF GOLD EFP’S FOR FEBRUARY: 649.45 TONNES

Result: A  HUGE SIZED DECREASE IN OI AT THE COMEX WITH THE CONSIDERABLE FALL IN PRICE IN GOLD TRADING YESTERDAY ($5.45).  HOWEVER, WE HAD ANOTHER HUGE SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 7106 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 7106 EFP CONTRACTS ISSUED, WE HAD A NET LOSS IN OPEN INTEREST OF 3557 contracts ON THE TWO EXCHANGES:

7106 CONTRACTS MOVE TO LONDON AND 10,663 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the LOSS in total oi equates to 11.063  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 UP $2.25 : NO  CHANGES IN GOLD INVENTORY AT THE GLD /

Inventory rests tonight: 833.73 tonnes.

SLV/

WITH SILVER UP 21 CENTS TODAY: 

NO CHANGES IN SILVER INVENTORY AT THE SLV/

/INVENTORY RESTS AT 318.069 MILLION OZ/

end

First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver ROSE BY 796  contracts from 195724 UP TO 196,520 (AND now A LITTLE  CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE TINY FALL IN PRICE OF SILVER  (1 CENTS WITH RESPECT TO  YESTERDAY’S TRADING).  OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER  2686 EFP CONTRACTS FOR 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 SOME COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE  OI GAIN AT THE COMEX OF  796 CONTRACTS TO THE 2693 OITRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A GAIN OF 3484  OPEN INTEREST CONTRACTS  WE STILL HAVE A STRONG AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN MARCH (SEE BELOW). THE NET GAIN TODAY IN OZ ON THE TWO EXCHANGES:  17.420 MILLION OZ!!!

RESULT: A SMALL SIZED  INCREASE 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 SIZED 2693 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG  SIZED AMOUNT OF SILVER OUNCES STANDING FOR MARCH, DEMAND FOR PHYSICAL SILVER INTENSIFIES AS WE WITNESS SEVERE BACKWARDATION IN SILVER IN LONDON.

(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

 

)FRIDAY MORNING/LATE THURSDAY NIGHT: Shanghai closed UP 18.76 POINTS OR 0.57% /Hang Sang CLOSED UP 341.69 POINTS OR 1.11% / The Nikkei closed UP 101.13 POINTS OR 0.47%/Australia’s all ordinaires CLOSED UP 0.37%/Chinese yuan (ONSHORE) closed UP at 6.3365/Oil DOWN to 60.58 dollars per barrel for WTI and 64.25 for Brent. Stocks in Europe OPENED RED EXCEPT PARIS CAC  .   ONSHORE YUAN CLOSED DOWN AT 6.3365 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3360 /ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING MUCH STRONGER AGAINST THE DOLLAR . CHINA IS NOT VERY  HAPPY TODAY (STRONGER CURRENCY GOOD CHINESE MARKETS/BUT TRUMP TARIFFS  INITIATED/ ) 

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