by Harvey Organ, Harvey Organ Blog:
GOLD DOWN $14.00 TO $1322.40/SILVER DOWN 50 CENTS TO $16.64/TURKEY TO REPATRIATE ALL GOLD STORED AT THE FRBNY (PROBABLY AROUND 300 TONNES)/MORE SWAMP STORIES FOR YOU TONIGHT
GOLD: $1322.40 DOWN $ 14.00 (COMEX TO COMEX CLOSINGS)
Silver: $16.64 DOWN 50 CENTS (COMEX TO COMEX CLOSINGS)
Closing access prices:
Gold $1324.70
silver: $16.66
For comex gold:
APRIL/
NUMBER OF NOTICES FILED TODAY FOR APRIL CONTRACT:8 NOTICE(S) FOR 800 OZ.
TOTAL NOTICES SO FAR 673 FOR 67300 OZ (2.0933 tonnes)
THE COMEX IS OUT OF GOLD
For silver:
APRIL
1 NOTICE(S) FILED TODAY FOR
5,000 OZ/
Total number of notices filed so far this month: 461 for 2,305,000 oz
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Bitcoin: BID $8860/OFFER $8960: up $377(morning)
Bitcoin: BID/ $8877/offer 8976: UP $343 (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: 1341.50
NY price at the same time: 1334.50
PREMIUM TO NY SPOT: $7.00
ss
Second gold fix early this morning: 1338.36
USA gold at the exact same time: 1333.80
PREMIUM TO NY SPOT: $4.56
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
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In silver, the total OPEN INTEREST FELL BY A SMALL 410 CONTRACTS FROM 221,913 FALLING TO 221,503 ACCOMPANYING FRIDAY’S SMALL 11 CENT LOSS IN SILVER PRICING. AFTER A STRING OF 4 CONSECUTIVE OI GAINS, WE FINALLY REGISTER A SMALL DROP. WE WERE AGAIN NOTIFIED THAT WE HAD AN HUMONGOUS SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP :120 EFP CONTRACTS FOR APRIL, 3354 EFP’S FOR MAY , 149 EFP’S FOR JULY AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE OF 3623 CONTRACTS. WITH THE TRANSFER OF 3623 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 3623 EFP CONTRACTS TRANSLATES INTO 18.115 MILLION OZ ACCOMPANYING 1.THE FALL IN SILVER PRICE (11 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:
56,764 CONTRACTS (FOR 16 TRADING DAYS TOTAL 56,764 CONTRACTS) OR 283.82 MILLION OZ: AVERAGE PER DAY: 3,547 CONTRACTS OR 17.738 MILLION OZ/DAY
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 283.82 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 40.54% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)
ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 1.001.95 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 TINY SIZED FALL IN COMEX OI SILVER COMEX OF 410 ACCOMPANYING THE SMALL 11 CENT LOSS IN SILVER PRICE. THE CME NOTIFIED US THAT WE HAD AN HUMONGOUS SIZED EFP ISSUANCE OF 3623 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: 120 CONTRACTS WERE ISSUED FOR APRIL, 3354 EFP’S WERE ISSUED FOR THE MONTH OF MAY, AND 149 EFP CONTRACTS FOR JULY, FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS (TOTAL: 3623). WE GAINED A STRONG 3213 OI CONTRACTS ON THE TWO EXCHANGES: i.e. 3623 open interest contracts headed for London (EFP’s) TOGETHER WITH AN DECREASE OF 410 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE SMALL FALL IN PRICE OF SILVER OF 11 CENTS AND A CLOSING PRICE OF $17.14 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 WELL OVER 1 BILLION oz i.e. 1.107 BILLION TO BE EXACT or 158% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT APRIL MONTH/ THEY FILED: 5 NOTICE(S) FOR 25,000 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
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 FELL BY 4601 CONTRACTS DOWN TO 514,852 ACCOMPANYING THE FALL IN PRICE/FRIDAY’S TRADING ( DROP OF $10.20). WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF APRIL. THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A GIGANTIC SIZED 11,451 CONTRACTS : JUNE SAW THE ISSUANCE OF 11,451 CONTRACTS , MAY SAW THE ISSUANCE OF 0 CONTRACTS AND ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 514,852. 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: 4601 OI CONTRACTS DECREASED AT THE COMEX AND AN GIGANTIC SIZED 11,451 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI GAIN: 6850 CONTRACTS OR 685,000 OZ = 21.30 TONNES.
FRIDAY, WE HAD 15,381 EFP’S ISSUED.
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF APRIL : 175,887 CONTRACTS OR 17,588,700 OZ OR 547.70 TONNES (16 TRADING DAYS AND THUS AVERAGING: 10,992 EFP CONTRACTS PER TRADING DAY OR 1,099,200 OZ/ TRADING DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : SO FAR THIS MONTH IN 16 TRADING DAYS IN TONNES: 547.7 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES
THUS EFP TRANSFERS REPRESENTS 547.70/2550 x 100% TONNES = 21.47% 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: 2,592.50 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 DECREASE IN OI AT THE COMEX OF 4610 WITH THE FALL IN PRICE // GOLD TRADING FRIDAY ($10.20 DROP). WE ALSO HAD A GIGANTIC SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 11,451 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 11,451 EFP CONTRACTS ISSUED, WE HAD A STRONG SIZED NET GAIN OF 6850 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:
11,451 CONTRACTS MOVE TO LONDON AND 4601 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 21.30 TONNES).
we had:198 notice(s) filed upon for 19800 oz of gold at the comex.
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With respect to our two criminal funds, the GLD and the SLV:
GLD
WITH GOLD DOWN $14.00 : WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/
Inventory rests tonight: 865.89 tonnes.
SLV/
WITH SILVER DOWN 50 CENTS TODAY: ANOTHER HUGE CHANGE/ A WITHDRAWAL OF 1.413 MILLION OZ/
/INVENTORY RESTS AT 315.298 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 TINY 410 CONTRACTS from 221,913 UP TO 221,503 (AND CLOSER TO 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 FINALLY HAVE A DROP. OUR BANKERS ALSO USED THEIR EMERGENCY PROCEDURE TO ISSUE: 120 EFP CONTRACTS FOR APRIL, 3354 EFP CONTRACTS FOR MAY (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM), AND 149 EFP’S FOR JULY AND ALL OTHER MONTHS ZERO. TOTAL EFP ISSUANCE: 3623 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE OI GAIN AT THE COMEX OF 26 CONTRACTS TO THE 3623 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A HUGE GAIN OF 3213 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES: 16.065 MILLION OZ!!! AND THIS OCCURRED WITH A SMALL FALL IN PRICE OF 11 CENTS. THE BANKERS ORCHESTRATED THEIR RAID TODAY AS THEY DESPERATELY TRY AND PARE THEIR GIGANTIC OPEN INTEREST SHORT ON BOTH EXCHANGES.
RESULT: A TINY SIZED DECREASE IN SILVER OI AT THE COMEX WITH THE FALL IN SILVER PRICING / FRIDAY (11 CENTS/) . BUT WE ALSO HAD ANOTHER HUMONGOUS SIZED 3623 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 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)MONDAY MORNING/SUNDAY NIGHT: Shanghai closed DOWN 3.53 POINTS OR 0.11% /Hang Sang CLOSED DOWN 163.93 POINTS OR 0.54% / The Nikkei closed DOWN 74.20 POINTS OR 0.33%/Australia’s all ordinaires CLOSED DOWN .19% /Chinese yuan (ONSHORE) closed DOWN at 6.3079/Oil DOWN to 68,13 dollars per barrel for WTI and 73.98 for Brent. Stocks in Europe OPENED RED. ONSHORE YUAN CLOSED DOWN AT 6.3079 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.3020/ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR /CHINA RETALIATES WITH TARIFFS/ TRUMP RESPONDS TO NEW TARIFFS AND IT NOW LOOKS LIKE A FULL TRADE WAR IS BEGINNING/
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