STRONG DAY FOR GOLD AS IT RISES $23.30

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by Harvey Organ, Harvey Organ Blog:

SILVER IS UP 19 CENTS/CARNAGE IN GLOBAL MARKETS WITH THE DOW DOWN 424 POINTS AND THE NASDAQ DOWN 174 POINTS/CHINA RETALIATES WITH THEIR TARIFFS ON USA GOODS/LIBOR-OIS SPREAD BLOWS OUT TO 58 PTS INDICATING SCARCITY OF DOLLARS: HUGE PROBLEMS THROUGHOUT THE WORLD/TWO MORE REPLACEMENTS AT THE WHITE HOUSE/MORE SWAMP STORIES FOR YOU TONIGHT

GOLD: $1350.00 UP $23.30 (COMEX TO COMEX CLOSINGS)

Silver: $16.59 UP 19 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1347.50

silver: $16.56

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 $1342.35

NY PRICING AT THE EXACT SAME TIME: $1341.60

LONDON SECOND GOLD FIX 10 AM: $1346.60

NY PRICING AT THE EXACT SAME TIME. $1347.70

For comex gold:

MARCH/

NUMBER OF NOTICES FILED TODAY FOR MARCH CONTRACT:0 NOTICE(S) FOR nil OZ.
TOTAL NOTICES SO FAR 31 FOR 3100 OZ

For silver:

MARCH

36 NOTICE(S) FILED TODAY FOR
180,000 OZ/
Total number of notices filed so far this month: 5307 for 26,535,000 oz

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Bitcoin: BID $86428/OFFER $8,498: DOWN $246(morning)
Bitcoin: BID/ $8599/offer $8669: DOWN $75 (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 HUGE SIZED 2862 contracts from 214,048 RISING TO 216,910 DESPITE YESTERDAY’S TINY 1 CENT LOSS IN SILVER PRICING. WE OBVIOUSLY HAD NO COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER SMALL SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP : 434 EFP’S FOR MAY AND ZERO FOR ALL OTHER MONTHS AND THUS TOTAL ISSUANCE OF 434 CONTRACTS. WITH THE TRANSFER OF 434CONTRACTS, 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 434 CONTRACTS TRANSLATES INTO 2.17 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:

39,870 CONTRACTS (FOR 17 TRADING DAYS TOTAL 39,870 CONTRACTS) OR 199.35 MILLION OZ: AVERAGE PER DAY: 2345 CONTRACTS OR 11.73 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 199.35 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 28.42% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 681.18 MILLION OZ.

ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ

ACCUMULATION FOR MONTH OF FEBRUARY: 244.945 MILLION OZ

RESULT: WE HAD A STRONG SIZED GAIN IN COMEX OI SILVER COMEX OF 2862 DESPITE THE 1 CENT FALL IN SILVER PRICE. HOWEVER, WE ALSO HAD A WEAK SIZED EFP ISSUANCE OF 434 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 434 EFP’S FOR THE MONTH OF MARCH WERE ISSUED FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE GAINED A GOOD 3296 OI CONTRACTS i.e. 434 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 2894 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 1 CENT AND A CLOSING PRICE OF $16.50 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. 1.085 BILLION TO BE EXACT or 155% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MARCH MONTH/ THEY FILED: 36 NOTICE(S) FOR 180,000 OZ OF SILVER

In gold, the open interest ROSE BY A HUMONGOUS SIZED 11,566 CONTRACTS UP TO 570,423 WITH THE FAIR SIZED RISE IN PRICE YESTERDAY ( GAIN OF $5.90) HOWEVER FOR FRIDAY, THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED AN STRONG SIZED 8031 CONTRACTS : APRIL SAW THE ISSUANCE OF 7531 CONTRACTS, JUNE SAW THE ISSUANCE OF 500 CONTRACTS AND THEN ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 570,423. 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 AN ATMOSPHERIC OI GAIN IN CONTRACTS: 11,566 OI CONTRACTS INCREASED AT THE COMEX AND A HUGE SIZED 8031 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI GAIN: 19,597 CONTRACTS OR 1,959,700 OZ =60.95 TONNES

YESTERDAY, WE HAD 13,566 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MARCH : 165,231 CONTRACTS OR 16,523,100 OZ OR 513.93 TONNES (17 TRADING DAYS AND THUS AVERAGING: 9719 EFP CONTRACTS PER TRADING DAY OR 971,900 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: 513.93 TONNES

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

THUS EFP TRANSFERS REPRESENTS 513.93/2550 x 100% TONNES = 20.11% OF GLOBAL ANNUAL PRODUCTION SO FAR IN MARCH ALONE.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 1816.60 TONNES

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

ACCUMULATION OF GOLD EFP’S FOR FEBRUARY: 649.45 TONNES

Result: A STRONG SIZED INCREASE IN OI AT THE COMEX WITH THE RISE IN PRICE IN GOLD TRADING YESTERDAY ($5.90 GAIN). HOWEVER, WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 8031 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 15,566 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 19,597 contracts ON THE TWO EXCHANGES:

8031 CONTRACTS MOVE TO LONDON AND 11,566 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 60.95 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 $23.30 : NO CHANGE IN GOLD INVENTORY AT THE GLD /

Inventory rests tonight: 850.54 tonnes.

SLV/

WITH SILVER UP 19 CENTS TODAY: THIS MAKES NO SENSE AT ALL!!!!!!!

A BIG CHANGES IN SILVER INVENTORY AT THE SLV/A WITHDRAWAL OF 1.602 MILLION OZ

/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 STRONG 2862 contracts from 214,048 UP TO 216,910 (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 CENT WITH RESPECT TO YESTERDAY’S TRADING). OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 434 EFP CONTRACTS 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 ZERO COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE OI GAIN AT THE COMEX OF 2862 CONTRACTS TO THE 434 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A GAIN OF 3296 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: 16.480 MILLION OZ!!!

RESULT: A GOOD SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE FALL IN SILVER PRICING YESTERDAY (1 CENT FALL IN PRICE) . BUT WE ALSO HAD ANOTHER WEAK SIZED 434 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
i)FRIDAY MORNING/THURSDAY NIGHT: Shanghai closed DOWN 110.72 POINTS OR 3.39% /Hang Sang CLOSED DOWN 761.72 POINTS OR 2.45% / The Nikkei closed DOWN 974.13/Australia’s all ordinaires CLOSED DOWN 1.89%/Chinese yuan (ONSHORE) closed UP at 6.3220/Oil DOWN to 64.53 dollars per barrel for WTI and 68.99 for Brent. Stocks in Europe OPENED DEEPLY IN THE RED . ONSHORE YUAN CLOSED UP AT 6.3220 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3180 /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 (WEAKER CURRENCY AND POOR CHINESE MARKETS/WITH NEW TRUMP TARIFFS INITIATED/WEAKER GLOBAL MARKETS )

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