MARKETS ARE SURREAL/DOW RISES OVER 300 POINTS ON NON ACTIVE BY TRUMP ON AMAZON??

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by Harvey Organ, Harvey Organ Blog:

RAID ON GOLD AND SILVER TODAY: GOLD DOWN $9.60 TO $1333.40/SILVER IS DOWN 16 CENTS TO $16.41

GOLD: $1333.40 DOWN $9.30 (COMEX TO COMEX CLOSINGS)

Silver: $16.41 DOWN 16 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1333.00

silver: $16.41

For comex gold:

APRIL/

NUMBER OF NOTICES FILED TODAY FOR APRIL CONTRACT:36 NOTICE(S) FOR 3600 OZ.
TOTAL NOTICES SO FAR 587 FOR 58700 OZ (1.8258 tonnes)

For silver:

APRIL

0 NOTICE(S) FILED TODAY FOR
nil OZ/
Total number of notices filed so far this month: 19 for 90,000 oz

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Bitcoin: BID $7290/OFFER $7390: UP $285(morning)
Bitcoin: BID/ $7340/offer $7438: UP $338 (CLOSING/5 PM)

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Let us have a look at the data for today

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In silver, the total open interest SURPRISINGLY FELL BY 906 contracts from 229131 FALLING TO 228,225 DESPITE YESTERDAY’S STRONG 34 CENT RISE IN SILVER PRICING. OBVIOUSLY, WE HAD SOME COMEX LIQUIDATION BUT WE ALSO HAD SOME COMEX SHORT COVERING. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER STRONG SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP : 1551 EFP’S FOR MAY AND ZERO FOR ALL OTHER MONTHS AND THUS TOTAL ISSUANCE OF 1551 CONTRACTS. WITH THE TRANSFER OF 1551 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 1551 CONTRACTS TRANSLATES INTO 7.755 MILLION OZ ON TOP OF THE RISE IN OPEN INTEREST IN SILVER AT THE COMEX AND 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:

3812 CONTRACTS (FOR 2 TRADING DAYS TOTAL 3812 CONTRACTS) OR 19.068 MILLION OZ: AVERAGE PER DAY: 1906 CONTRACTS OR 9.530 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 19.068 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 2.72% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 737.55 MILLION 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 SMALL SIZED LOSS IN COMEX OI SILVER COMEX OF 906 DESPITE THE 34 CENT RISE IN SILVER PRICE. HOWEVER, WE ALSO HAD ANOTHER STRONG SIZED EFP ISSUANCE OF 1551 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 1551 EFP’S FOR THE MONTH OF MAY WERE ISSUED FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE GAINED 645 OI CONTRACTS ON THE TWO EXCHANGES: i.e. 1551 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 906 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE RISE IN PRICE OF SILVER OF 34 CENTS AND A CLOSING PRICE OF $16.67 WITH RESPECT TO MONDAY’S TRADING. YET WE STILL HAVE A GOOD 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 just OVER 1 BILLION oz i.e. 1.1420 BILLION TO BE EXACT or 163% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT APRIL MONTH/ THEY FILED: 0 NOTICE(S) FOR NIL OZ OF SILVER

IN SILVER, WE ARE NOW 6,000 CONTRACTS AWAY FROM RECORD LEVELS AND YET THE SILVER PRICE IS EXTREMELY LOW

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 OPEN INTEREST IN SILVER 227,200 CONTRACTS (OR 1.136 BILLION OZ/
HUGE EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION
AND YET WE HAVE A CONTINUAL LOWER 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 JPMORGAN 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)

In gold, the open interest ROSE BY AN FAIR GOOD SIZED 1850 CONTRACTS UP TO 501,415 ACCOMPANYING THE STRONG SIZED RISE IN PRICE/YESTERDAY’S TRADING ( GAIN OF $19.50). AS WE ENTER THE ACTIVE DELIVERY MONTH OF APRIL. THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A RATHER SMALL SIZED 3180 CONTRACTS : JUNE SAW THE ISSUANCE OF 3180 CONTRACTS AND THEN ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 501,415. 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 GOOD OI GAIN IN CONTRACTS ON THE TWO EXCHANGES: 1850 OI CONTRACTS INCREASED AT THE COMEX AND A VERY TINY SIZED 3180 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI GAIN: 5030 CONTRACTS OR 503,000 OZ =15.64 TONNES

THURSDAY, WE HAD 14.769 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF APRIL : 17949 CONTRACTS OR 179,4900 OZ OR 55.800 TONNES (2 TRADING DAYS AND THUS AVERAGING: 8,975 EFP CONTRACTS PER TRADING DAY OR 897,500 OZ/ TRADING DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : SO FAR THIS MONTH IN 2 TRADING DAYS IN TONNES: 55.800 TONNES

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

THUS EFP TRANSFERS REPRESENTS 55.800/2550 x 100% TONNES = 2.188% 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: 2100.3 TONNES

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: A FAIR SIZED INCREASE IN OI AT THE COMEX WITH THE STRONG SIZED RISE IN PRICE IN GOLD TRADING YESTERDAY ($19.50 GAIN). WE HAD A VERY LARGE SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 3180 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 3180 EFP CONTRACTS ISSUED, WE HAD A GOOD NET GAIN IN OPEN INTEREST OF 5030 contracts ON THE TWO EXCHANGES:

3180 CONTRACTS MOVE TO LONDON AND 1850 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 20.09 TONNES).

we had: 36 notice(s) filed upon for 3600 oz of gold.

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

GLD

WITH GOLD DOWN $9.30 : WE HAD NO CHANGES IN GOLD TONNAGE AT THE GLD/

Inventory rests tonight: 852.31 tonnes.

SLV/

WITH SILVER DOWN 16 CENTS TODAY: NO CHANGE

/INVENTORY RESTS AT 319.012 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 FELL BY A SMALL 906 contracts from 229,131 DOWN TO 228,225 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787. THE PRICE OF SILVER ON THAT DAY: $17.89) DESPITE THE STRONG SIZED RISE IN PRICE OF SILVER (34 CENTS// YESTERDAY’S TRADING). OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 2261 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 AGAIN ZERO COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE OI LOSS AT THE COMEX OF 906 CONTRACTS TO THE 1551 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A GAIN OF 645 OPEN INTEREST CONTRACTS. WE STILL HAVE A GOOD AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN APRIL (SEE BELOW). THE NET GAIN TODAY IN OZ ON THE TWO EXCHANGES: 3.225 MILLION OZ!!!

RESULT: A SMALL SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE GOOD SIZED RISE IN SILVER PRICING / YESTERDAY (34 CENTS) . BUT WE ALSO HAD ANOTHER VERY GOOD SIZED 1551 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
)TUESDAY MORNING/MONDAY NIGHT: Shanghai closed DOWN 26.55 POINTS OR 0.84% /Hang Sang CLOSED UP 86.72 POINTS OR .29% / The Nikkei closed DOWN 96.29 POINTS OR .45%/Australia’s all ordinaires CLOSED DOWN .19% /Chinese yuan (ONSHORE) closed DOWN at 6.2847/Oil DOWN to 63.25 dollars per barrel for WTI and 67.89 for Brent. Stocks in Europe OPENED DEEPLY IN THE RED . ONSHORE YUAN CLOSED DOWN AT 6.2847 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.2759 /ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING MUCH WEAKER AGAINST THE DOLLAR . CHINA IS NOT VERY HAPPY TODAY POOR CHINESE MARKETS/CHINA RETALIATES WITH TARIFFS/

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