RAID ON GOLD AND SILVER CONTINUE AS OPTIONS EXPIRY ENDS TOMORROW ON LBMA

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by Harvey Organ, Harvey Organ Blog:

OTIC/GOLD DOWN $16.30 TO $1342.90 AND SILVER IS DOWN 27 CENTS TO $16.27/STRANGE: AT THE COMEX NO GOLD INVENTORY MOVEMENT AND TOMORROW IS FIRST DAY NOTICE/USA YIELD CURVE COLLAPSES TODAY INDICATING RECESSION

GOLD: $1326.60 DOWN $16.30 (COMEX TO COMEX CLOSINGS)

Silver: $16.27 DOWN 27 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1325.60

silver: $16.29

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: $N/A DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $N/A

PREMIUM FIRST FIX: $N/A

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SECOND SHANGHAI GOLD FIX: $N/A

NY GOLD PRICE AT THE EXACT SAME TIME: $N/A

PREMIUM SECOND FIX /NY:$XX

SHANGHAI REJECTS NY PRICING OF GOLD.

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ON APRIL 1 2018 I WILL NO LONGER PROVIDE THE LONDON FIXES AS THEY ARE MANIPULATED AND THEY WILL BE PROVIDED 36 HRS AFTER THE FACT AND THUS TOTALLY USELESS TO US!!

LONDON FIRST GOLD FIX: 5:30 am est $1341.05

NY PRICING AT THE EXACT SAME TIME: $1341.25

LONDON SECOND GOLD FIX 10 AM: $1332.45

NY PRICING AT THE EXACT SAME TIME. $1331.85

end

For comex gold:

MARCH/

NUMBER OF NOTICES FILED TODAY FOR MARCH CONTRACT:475 NOTICE(S) FOR 47,500 OZ.
TOTAL NOTICES SO FAR 506 FOR 50,600 OZ

For silver:

MARCH

4 NOTICE(S) FILED TODAY FOR
20,000 OZ/
Total number of notices filed so far this month: 5348 for 26,740,000 oz

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Bitcoin: BID $8012/OFFER $8082: UP $81(morning)
Bitcoin: BID/ $7884/offer $7954: DOWN $47 (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 CONSIDERABLE SIZED 1719 contracts from 217,799 RISING TO 219,518 DESPITE YESTERDAY’S 14 CENT DROP IN SILVER PRICING. WE OBVIOUSLY HAD NO COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GIGANTIC SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP : 3168 EFP’S FOR MAY AND ZERO FOR ALL OTHER MONTHS AND THUS TOTAL ISSUANCE OF 3168 CONTRACTS. WITH THE TRANSFER OF 3168 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 3168 CONTRACTS TRANSLATES INTO 15.84 MILLION OZ ON TOP OF 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:

44,401 CONTRACTS (FOR 20 TRADING DAYS TOTAL 44,401 CONTRACTS) OR 222.00 MILLION OZ: AVERAGE PER DAY: 2220 CONTRACTS OR 11.110 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 222.00 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 31.7% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 703.83 MILLION OZ.

ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ

ACCUMULATION FOR MONTH OF FEBRUARY: 244.95 MILLION OZ

RESULT: WE HAD A GOOD SIZED GAIN IN COMEX OI SILVER COMEX OF 1719 WITH THE 14 CENT FALL IN SILVER PRICE. HOWEVER, WE ALSO HAD A HUGE SIZED EFP ISSUANCE OF 3168 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 3168 EFP’S FOR THE MONTH OF MAY WERE ISSUED FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE GAINED A HUGE 4887 OI CONTRACTS i.e. 3168 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 1719 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 14 CENTS AND A CLOSING PRICE OF $16.54 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A HUGE AMOUNT OF SILVER STANDING AT THE COMEX THIS MONTH.

In ounces AT THE COMEX, the OI is still represented by just OVER 1 BILLION oz i.e. 1.097 BILLION TO BE EXACT or 157% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MARCH MONTH/ THEY FILED: 80 NOTICE(S) FOR 400,000 OZ OF SILVER

In gold, the open interest FELL BY A HUMONGOUS SIZED 121,930 CONTRACTS DOWN TO 529,690 WITH THE FAIR SIZED FALL IN PRICE IN YESTERDAY TRADING ( LOSS OF $11.70). WE ARE NOW ENTERING THE LAST WEEK BEFORE FIRST DAY NOTICE OF AN ACTIVE GOLD COMEX CONTRACT MONTH AND HERE WE GENERALLY SEE A CONTRACTION AT THE COMEX WITH A CORRESPONDING HIGHER EFP ISSUED AND THAT IS WHAT WE GOT. THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED AN STRONG SIZED 16,331 CONTRACTS : APRIL SAW THE ISSUANCE OF 5410 CONTRACTS, JUNE SAW THE ISSUANCE OF 10,331 CONTRACTS AND THEN ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 529,690. 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 SMALL OI LOSS IN CONTRACTS: 21,930 OI CONTRACTS DECREASED AT THE COMEX AND A STRONG SIZED 16,331 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI LOSS: 5599 CONTRACTS OR 559,900 OZ =14.41 TONNES

YESTERDAY, WE HAD 14,247 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MARCH : 213,380 CONTRACTS OR 21,338,000 OZ OR 663.70 TONNES (20 TRADING DAYS AND THUS AVERAGING: 10,669 EFP CONTRACTS PER TRADING DAY OR 1,066,900 OZ/ TRADING DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : SO FAR THIS MONTH IN 20 TRADING DAYS IN TONNES: 663.70 TONNES

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

THUS EFP TRANSFERS REPRESENTS 663.70/2550 x 100% TONNES = 26.02% OF GLOBAL ANNUAL PRODUCTION SO FAR IN MARCH ALONE.*** THE ACCUMULATION OF EFP CONTRACTS IS RISING PER MONTH.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 1957.02 TONNES

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

ACCUMULATION OF GOLD EFP’S FOR FEBRUARY: 649.45 TONNES

Result: A HUMONGOUS SIZED DECREASE IN OI AT THE COMEX WITH THE CONSIDERABLE SIZED FALL IN PRICE IN GOLD TRADING YESTERDAY ($11.70 LOSS). HOWEVER, WE HAD ANOTHER STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 16,331 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 16,331 EFP CONTRACTS ISSUED, WE HAD A SMALL NET LOSS IN OPEN INTEREST OF 5599 contracts ON THE TWO EXCHANGES:

16,331 CONTRACTS MOVE TO LONDON AND 21,930 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the LOSS in total oi equates to 17.41 TONNES).

we had: 12 notice(s) filed upon for 1200 oz of gold.

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

GLD

WITH GOLD DOWN $16.30 : AND OUR USUAL RAID ON OPTIONS EXPIRY WEEK: THIS AGAIN WAS TO EXPECTED: A HUGE CHANGE IN GOLD INVENTORY AT THE GLD /A WITHDRAWAL OF 1.18 TONNES OF GOLD WHICH WAS USED IN THE RAID

Inventory rests tonight: 846.12 tonnes.

SLV/

WITH SILVER DOWN 27 CENTS TODAY: NO CHANGE

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 A CONSIDERABLE 1719 contracts from 217,799 UP TO 219,677 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE GOOD SIZED FALL IN PRICE OF SILVER (14 CENTS WITH RESPECT TO YESTERDAY’S TRADING). OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 3168 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 ZERO COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE OI GAIN AT THE COMEX OF 1719 CONTRACTS TO THE 3168 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A GAIN OF 4887 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: 24.43 MILLION OZ!!!

RESULT: A STRONG SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE CONSIDERABLE FALL IN SILVER PRICING YESTERDAY (14 CENT FALL IN PRICE) . BUT WE ALSO HAD ANOTHER VERY STRONG SIZED 3168 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)

.

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)WEDNESDAY MORNING/TUESDAY NIGHT: Shanghai closed DOWN 44.36 POINTS OR 1.40% /Hang Sang CLOSED DOWN 768.30 POINTS OR 2.50% / The Nikkei closed DOWN 286.01/Australia’s all ordinaires CLOSED DOWN 0.75%/Chinese yuan (ONSHORE) closed DOWN at 6.2936/Oil DOWN to 64.76 dollars per barrel for WTI and 69.89 for Brent. Stocks in Europe OPENED DEEPLY IN THE RED . ONSHORE YUAN CLOSED DOWN AT 6.2936 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.2796 /ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR . CHINA IS NOT VERY HAPPY TODAY POOR CHINESE MARKETS/WITH NEW TRUMP TRADE DEALS DISCUSSED WEAKER GLOBAL MARKETS/WEAKER CURRENCY

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