GOLD AND SILVER STILL UNDER PRESSURE FROM THE RISING DOLLAR AND OPTIONS EXPIRY: GOLD DOWN $4.70 TO $1316.50

0
461

by Harvey Organ, Harvey Organ Blog:

SILVER DOWN 2 CENTS TO $16.52/WORLD’S LARGEST DERIVATIVE PLAYER, DEUTSCHE BANK REPORTS DISMAL EARNINGS/RHETORIC BETWEEN ISRAEL AND IRAN INTENSIFIES/ISRAEL WARNS RUSSIA NOT TO PROVIDE S 300 ANTI AIRCRAFT MISSILE SYSTEM/ DOW AND NASDAQ ADVANCE/ MORE SWAMP STORIES FOR YOU TONIGHT

GOLD: $1316.50 DOWN $ 4.70 (COMEX TO COMEX CLOSINGS)

Silver: $16.52 DOWN 2 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1317.30

silver: $16.52

For comex gold:

APRIL/

NUMBER OF NOTICES FILED TODAY FOR APRIL CONTRACT:117 NOTICE(S) FOR 11700 OZ.
TOTAL NOTICES SO FAR 1086 FOR 108,600 OZ (3.3779 tonnes)

THE COMEX IS OUT OF GOLD

For silver:

APRIL

15 NOTICE(S) FILED TODAY FOR
75,000 OZ/
Total number of notices filed so far this month: 497 for 2,485,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

Bitcoin: BID $8780/OFFER $8882: DOWN $23(morning)
Bitcoin: BID/ $8998/offer $9098: UP $192 (CLOSING/5 PM)

end

First Shanghai gold fix comes at 10 pm est

The second Shanghai gold fix: 2:15 pm

First Shanghai gold fix gold: 10 pm est: 1331.25
NY price at the same time: 1324.40

PREMIUM TO NY SPOT: $6.85

ss

Second gold fix early this morning: 1331.93
USA gold at the exact same time: 1323.00

PREMIUM TO NY SPOT: $7.93

AGAIN, SHANGHAI REJECTS NEW YORK PRICING.

WE WILL NOT PROVIDE LONDON FIXES AS THEY ARE NOT ACCURATE AS TO WHAT IS GOING ON AT THE SAME TIME FRAME.

Let us have a look at the data for today

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

In silver, the total OPEN INTEREST FELL BY 5159 CONTRACTS FROM 201,707 FALLING TO 196,548 ACCOMPANYING YESTERDAY’S 18 CENT FALL IN SILVER PRICING. AFTER A STRING OF 4 CONSECUTIVE OI GAINS, WE NOW REGISTER 4 CONSECUTIVE DROPS IN OI. WE ARE NOW WITNESSING OUR USUAL AND CUSTOMARY COMEX LONG LIQUIDATION AS WE HEAD INTO THE ACTIVE DELIVERY MONTH OF MAY AS LONGS PACK THEIR BAGS AND MIGRATE OVER TO LONDON. WE WERE NOTIFIED THAT WE HAD AN STRONG SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP : 0 EFP CONTRACTS FOR APRIL, 3902 EFP’S FOR MAY , 782 EFP’S FOR JULY AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE OF 4684 CONTRACTS. WITH THE TRANSFER OF 4684 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 4684 EFP CONTRACTS TRANSLATES INTO 23.420 MILLION OZ ACCOMPANYING 1.THE FALL IN SILVER PRICE (18 CENTS) AT THE COMEX AND 2. THE STRONG AMOUNT OF SILVER OUNCES STANDING FOR APRIL COMEX DELIVERY.

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

73,158 CONTRACTS (FOR 19 TRADING DAYS TOTAL 73,158 CONTRACTS) OR 357.90 MILLION OZ: AVERAGE PER DAY: 3850 CONTRACTS OR 19.252 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 357.90 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 51.128% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 1.0838 BILLION OZ.

ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ

ACCUMULATION FOR FEB 2018: 244.95 MILLION OZ

ACCUMULATION FOR MARCH 2018: 236.67 MILLION OZ

RESULT: WE HAD A LARGE SIZED FALL IN COMEX OI SILVER COMEX OF 5159 WITH THE 18 CENT LOSS IN SILVER PRICE AS OUR CUSTOMARY COMEX LONG MIGRATION INTO LONDON BASED FORWARDS COMMENCED IN EARNEST AS WE ARE APPROACHING THE NEW ACTIVE MONTH OF MAY. THE CME NOTIFIED US THAT IN FACT WE HAD AN HUGE SIZED EFP ISSUANCE OF 4684 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 (SEE COMEX DATA) . FROM THE CME DATA: 0 CONTRACTS WERE ISSUED FOR APRIL, 3902 EFP’S WERE ISSUED FOR THE MONTH OF MAY, AND 782 EFP CONTRACTS FOR JULY, FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS (TOTAL: 4684). TODAY WE LOST 475 TOTAL OI CONTRACTS ON THE TWO EXCHANGES: i.e. 4684 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH AN DECREASE OF 5159 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 18 CENTS AND A CLOSING PRICE OF $16.54 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY IN THIS NON ACTIVE APRIL DELIVERY MONTH.

In ounces AT THE COMEX, the OI is still represented by UNDER 1 BILLION oz i.e. .982 MILLION OZ TO BE EXACT or 140% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT APRIL MONTH/ THEY FILED: 15 NOTICE(S) FOR 15,000 OZ OF SILVER

IN SILVER, WE HAVE NOW SET THE NEW RECORD OF OPEN INTEREST AT 243,411 AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $16.51 ON APRIL 9.2018.

ON THE DEMAND SIDE WE HAVE THE FOLLOWING:

HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY (MARCH 27 MILLION OZ AND APRIL 1.8 MILLION OZ)
HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018
HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017
RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 357.9 MILLION OZ/ (SO FAR)
AND YET WE HAVE A CONTINUAL LOW PRICE OF SILVER DESPITE THE ABOVE HUGE DEMAND. TO ME THE ONLY ANSWER IS THAT WE HAVE SOVEREIGN (CHINA) WHO IS ENDEAVOURING TO GOBBLE UP ALL AVAILABLE PHYSICAL SILVER NO MATTER WHERE, EXACTLY WHAT J.P.MORGAN IS DOING. AND IT IS MY BELIEF THAT J.P.MORGAN IS HOLDING ITS SILVER FOR ITS BENEFICIAL OWNER..THE USA GOVERNMENT WHO IN TURN IS HOLDING THAT SILVER FOR CHINA.(FOR A SILVER LOAN REPAYMENT). IT ALSO LOOKS LIKE BANKER CAPITULATION IN SILVER AS THEY STRUGGLE TO REMOVE SOME OF THEIR HUGE OBLIGATIONS.

In gold, the open interest ROSE BY 373 CONTRACTS UP TO 506,783 DESPITE THE FALL IN PRICE/YESTERDAY’S TRADING ( FALL OF $9.80). WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF APRIL HEADING INTO THE NON ACTIVE MONTH OF MAY. THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A GIGANTIC SIZED 12,209 CONTRACTS : JUNE SAW THE ISSUANCE OF 11,659 CONTRACTS , MAY SAW THE ISSUANCE OF 400 CONTRACTS AND AUGUST SAW THE ISSUANCE OF: 150 CONTRACTS (REPORTED LATE YESTERDAY) WITH ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 506,783. 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 LARGE SIZED OI GAIN IN CONTRACTS ON THE TWO EXCHANGES: 373 OI CONTRACTS INCREASED AT THE COMEX AND AN GIGANTIC SIZED 12,209 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI GAIN: 12,582 CONTRACTS OR 1,258,200 OZ = 39.135 TONNES.

YESTERDAY, WE HAD 8946 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF APRIL : 212,950 CONTRACTS OR 21,295,000 OZ OR 662.36 TONNES (19 TRADING DAYS AND THUS AVERAGING: 11,207 EFP CONTRACTS PER TRADING DAY OR 1,120,700 OZ/ TRADING DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : SO FAR THIS MONTH IN 19 TRADING DAYS IN TONNES: 662.36 TONNES

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

THUS EFP TRANSFERS REPRESENTS 662.36/2550 x 100% TONNES = 25.97% 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: 2,702.063* TONNES *SURPASSED ANNUAL PROD’N

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

ACCUMULATION OF GOLD EFP’S FOR FEBRUARY 2018: 649.45 TONNES

ACCUMULATION OF GOLD EFP’S FOR MARCH 2018: 741.89 TONNES

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.

Result: AN INCREASE IN OI AT THE COMEX OF 373 DESPITE THE FALL IN PRICE // GOLD TRADING YESTERDAY ($9.80 LOSS). WE ALSO HAD A GIGANTIC SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 12,209 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX. 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 12,209 EFP CONTRACTS ISSUED, WE HAD A STRONG SIZED NET GAIN OF 12,209 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:

12,209 CONTRACTS MOVE TO LONDON AND 373 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 39.135 TONNES).

we had:117 notice(s) filed upon for 11700 oz of gold at the comex.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

GLD…

WITH GOLD DOWN $4.90 /NO CHANGE IN GOLD INVENTORY AT THE GLD

Inventory rests tonight: 871.20 tonnes.

SLV/

WITH SILVER DOWN 2 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/

/INVENTORY RESTS AT 316.899 MILLION OZ/

end

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

1. Today, we had the open interest in SILVER FELL BY 5159 CONTRACTS from 201,707 DOWN TO 196,548 (AND FURTHER FROM THE NEW COMEX RECORD SET /APRIL 9/2017 AT 243,411). THE PREVIOUS RECORD OTHER THAN WAS ESTABLISHED AT: 234,787, SET ON APRIL 21.2017 ALMOST ONE YEAR AGO. THE PRICE OF SILVER ON THAT DAY: $17.89. AFTER WE HAVE HAD FOUR CONSECUTIVE OI GAINS WE NOW HAVE FOUR CONSECUTIVE OI DROPS AS OUR CUSTOMARY MIGRATION OF COMEX LONGS MORPH INTO LONDON FORWARDS HAVING COMMENCED WITH OUR MARCH INTO THE UPCOMING ACTIVE MAY DELIVERY MONTH (AT THE COMEX). TRUE TO FORM OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE: 0 EFP CONTRACTS FOR APRIL, 3902 EFP CONTRACTS FOR MAY (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM), AND 782 EFP’S FOR JULY AND ALL OTHER MONTHS ZERO. TOTAL EFP ISSUANCE: 4684 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE OI LOSS AT THE COMEX OF 5159 CONTRACTS TO THE 4684 OI TRANSFERRED TO LONDON THROUGH EFP’S, SURPRISINGLY WE OBTAIN A TINY LOSS OF 475 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES: 2.375 MILLION OZ!!! AND THIS OCCURRED DESPITE A FALL IN PRICE OF 18 CENTS. THE BANKERS ORCHESTRATED THEIR RAID ON MONDAY TO DESPERATELY TRY AND PARE THEIR GIGANTIC OPEN INTEREST SHORT ON BOTH EXCHANGES BUT TO NO AVAIL. JUDGING BY THE RECORD NUMBER OF ISSUANCE DURING THIS MONTH OF APRIL AT 357.4 MILLION OZ. I DO NOT THINK THAT OUR BANKERS HAVE BEEN TOO SUCCESSFUL. PLEASE REMEMBER THAT THERE CAN BE DELAY OF 24 TO 48 HOURS IN THE ISSUANCE OF THESE EFP’S, SO EXPECT THE NUMBERS ANNOUNCED (EFP’S) WILL INCREASE STEADILY AS WE HEAD INTO FIRST DAY NOTICE THIS MONDAY APRIL 30.

RESULT: A LARGE SIZED DECREASE IN SILVER OI AT THE COMEX WITH THE FALL IN SILVER PRICING / YESTERDAY (18 CENTS/) . BUT WE ALSO HAD ANOTHER HUMONGOUS SIZED 4684 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG SIZED AMOUNT OF SILVER OUNCES STANDING FOR APRIL, DEMAND FOR PHYSICAL SILVER CONTINUES TO INTENSIFY AS WE WITNESS SEVERE BACKWARDATION IN SILVER IN LONDON. EXPECT EFP ISSUANCE TO INCREASE DURING THIS WEEK AS WE HEAD INTO THE ACTIVE DELIVERY MONTH OF MAY.

(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)THURSDAY MORNING/WEDNESDAY NIGHT: Shanghai closed DOWN 42.94 POINTS OR 1.38% /Hang Sang CLOSED DOWN 320.47 POINTS OR 1.06% / The Nikkei closed UP 104.29 POINTS OR 0.47%/Australia’s all ordinaires CLOSED UP .56% /Chinese yuan (ONSHORE) closed DOWN at 6.3238/Oil DOWN to 68.45 dollars per barrel for WTI and 74.53 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN. ONSHORE YUAN CLOSED DOWN AT 6.3238 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.3179/ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING MUCH STRONGER AGAINST THE DOLLAR /CHINA RETALIATES WITH TARIFFS/ TRUMP RESPONDS TO NEW TARIFFS AND IT NOW LOOKS LIKE A FULL TRADE WAR IS BEGINNING/

Read More @ HarveyOrganBlog.com