SOLID DAY FOR GOLD: UP $$4.05 TO $1336.75/SILVER UP 12 CENTS TO $16.53

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by Harvey Organ, Harvey Organ Blog:

NEW SILVER OPEN INTEREST RECORD AT 243,411 CONTRACTS//RUSSIAN SANCTIONS BY THE USA CAUSES THE ROUBLE TO TANK AND THE RUSSIAN STOCK MARKET/SWISS SHARES THAT ARE AFFILIATED WITH RUSSIAN OLIGARCHS CRASH AS WELL/ISRAEL ATTACKS SYRIA LATE SUNDAY NIGHT AS WELL AS DESTROY MILITARY FACILITIES IN GAZA/CRIMINAL TRIALS TO COMMENCE AGAINST 6 TRADERS

GOLD: $1336.75 UP $4.05 (COMEX TO COMEX CLOSINGS)

Silver: $16.53 UP 12 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1336.50

silver: $16.50

For comex gold:

APRIL/

NUMBER OF NOTICES FILED TODAY FOR APRIL CONTRACT:2 NOTICE(S) FOR 200 OZ.
TOTAL NOTICES SO FAR 657 FOR 65700 OZ (2.043 tonnes)

THE COMEX IS OUT OF GOLD

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 $6684/OFFER $6784: UP $135(morning)
Bitcoin: BID/ $6616/offer $6716: up $67 (CLOSING/5 PM)

end

Let us have a look at the data for today

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In silver, the total open interest SURPRISINGLY ROSE AGAIN BUT BY A SMALLER THAN EXPECTED 516 contracts from 242,895 RISING TO 243,411 WITH FRIDAY’S TINY 4 CENT RISE IN SILVER PRICING. TODAY WE SET ANOTHER NEW ALL TIME RECORD FOR SILVER OPEN INTEREST . OBVIOUSLY, WE AGAIN HAD ZERO COMEX LIQUIDATION. BUT WE MUST HAVE WITNESSED SOME COMEX SHORT COVERING AS THE BANKERS ARE QUITE CONCERNED WITH SILVER’S DIZZYING OPEN INTEREST HEIGHT. WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP : 1470 EFP’S FOR MAY AND ZERO FOR ALL OTHER MONTHS AND THUS TOTAL ISSUANCE OF 1470 CONTRACTS. WITH THE TRANSFER OF 1470 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 1470 CONTRACTS TRANSLATES INTO 7.35 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:

12,725 CONTRACTS (FOR 6 TRADING DAYS TOTAL 12,725 CONTRACTS) OR 63.625 MILLION OZ: AVERAGE PER DAY: 2120 CONTRACTS OR 10.604 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 63.625 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 9.08% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 782.12 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 GAIN IN COMEX OI SILVER COMEX OF 516 WITH THE TINY 4 CENT RISE IN SILVER PRICE. WE ALSO HAD ANOTHER STRONG SIZED EFP ISSUANCE OF 516 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 516 EFP’S FOR THE MONTH OF MAY WERE ISSUED FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE GAINED A STRONG 1986 OI CONTRACTS ON THE TWO EXCHANGES: i.e. 1470 open interest contracts headed for London (EFP’s) TOGETHER WITH AN INCREASE OF 516 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE TINY RISE IN PRICE OF SILVER OF 4 CENTS AND A CLOSING PRICE OF $16.40 WITH RESPECT TO FRIDAY’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. 1.217 BILLION TO BE EXACT or 174% 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 HAVE NOW SET THE NEW RECORD OF OPEN INTEREST AT 243,411 AND AGAIN THIS HAS BEEN SET WITH A LOWE PRICE. THE PREVIOUS RECORD WAS YESTERDAY AT 242,895 CONTRACTS WITH A SILVER PRICE CLOSING OF $16.40.

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 243,411 CONTRACTS (OR 1.217 BILLION OZ/
HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION
AND YET WE HAVE A CONTINUAL LOWE 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)

In gold, the open interest ROSE BY A SMALL SIZED 1765 CONTRACTS UP TO 495,082 ACCOMPANYING THE GOOD SIZED GAIN IN PRICE/FRIDAY’S TRADING ( GAIN OF $7.50). WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF APRIL. THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A RATHER LARGE SIZED 9917 CONTRACTS : JUNE SAW THE ISSUANCE OF 9917 CONTRACTS AND ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 495,082. 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: 1765 OI CONTRACTS INCREASED AT THE COMEX AND A STRONG SIZED 9917 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI GAIN: 11,682 CONTRACTS OR 1,168,200 OZ =36.33 TONNES

FRIDAY, WE HAD 11895 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF APRIL : 61,542 CONTRACTS OR 6,154,200 OZ OR 191.42 TONNES (6 TRADING DAYS AND THUS AVERAGING: 10,257 EFP CONTRACTS PER TRADING DAY OR 1,025,700 OZ/ TRADING DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : SO FAR THIS MONTH IN 6 TRADING DAYS IN TONNES: 191.42 TONNES

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

THUS EFP TRANSFERS REPRESENTS 191.42/2550 x 100% TONNES = 7.50% 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: 2235.90 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 LARGE SIZED INCREASE IN OI AT THE COMEX WITH THE SMALL SIZED GAIN IN PRICE IN GOLD TRADING FRIDAY ($7.50 GAIN). WE HAD A VERY LARGE SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 9917 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 9917 EFP CONTRACTS ISSUED, WE HAD A GOOD NET GAIN IN OPEN INTEREST OF 11,682 contracts ON THE TWO EXCHANGES:

9917 CONTRACTS MOVE TO LONDON AND 1765 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 36.33 TONNES).

we had: 2 notice(s) filed upon for 200 oz of gold.

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

GLD

WITH GOLD UP $4.50 : WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/

Inventory rests tonight: 859.99 tonnes.

SLV/

WITH SILVER UP 12 CENTS TODAY: NO CHANGES/

/INVENTORY RESTS AT 320.196 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 ROSE BY A SMALLER THAN EXPECTED 516 CONTRACTS from 242,895 UP TO 243,411 (AND A NEW COMEX RECORD SET TODAY/APRIL 9/2017. THE PREVIOUS RECORD OTHER THAN WAS ESTABLISHED FRIDAY. THE PREVIOUS RECORD WAS: 234,787 SET ON APRIL 21.2017 ALMOST ONE YEAR AGO. THE PRICE OF SILVER ON THAT DAY: $17.89).

FRIDAY’S TRADING OCCURRED SURPRISINGLY WITH THE TINY RISE IN PRICE OF SILVER (4 CENTS//). OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 1470 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 GAIN AT THE COMEX OF 516 CONTRACTS TO THE 1470 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A GOOD GAIN OF 1986 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: 9.93 MILLION OZ!!!

RESULT: A SMALL SIZED INCREASE IN SILVER OI AT THE COMEX WITH THE TINY RISE IN SILVER PRICING / FRIDAY (4 CENTS) . BUT WE ALSO HAD ANOTHER VERY GOOD SIZED 1470 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)MONDAY MORNING/SUNDAY NIGHT: Shanghai closed UP 7.18 POINTS OR .23% /Hang Sang CLOSED UP 384.64 POINTS OR 1.29% / The Nikkei closed UP 110.74 POINTS OR 0.51%/Australia’s all ordinaires CLOSED UP .30% /Chinese yuan (ONSHORE) closed DOWN at 6.3153/Oil DOWN to 62.25 dollars per barrel for WTI and 67.59 for Brent. Stocks in Europe OPENED IN THE GREEN EXCEPT LONDON . ONSHORE YUAN CLOSED UP AT 6.3153 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.3161 /ONSHORE YUAN TRADING STRONGER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING MUCH 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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