UNBELIEVABLE: A NEW ALL TIME RECORD OPEN INTEREST IN SILVER DESPITE IT’S LOW PRICE

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by Harvey Organ, Harvey Organ Blog:

GOLD FALLS $8.20 TO $1325.20 BUT SILVER FINDS SUPPORT AT AROUND THE $16.15 LEVEL AND THEN RALLIES TO CLOSE UP 6 CENTS TO $16.36/CHINA (ITS CITIZENS/NOT OFFICIAL GOLD) ON TAP TO DEMAND OVER 2,000 TONNES OF GOLD/USA JOB CUTS FOR MARCH UP CONSIDERABLY FROM LAST MONTH/TOMORROW IS JOBS REPORT

GOLD: $1325.20 DOWN $8.20 (COMEX TO COMEX CLOSINGS)

Silver: $16.36 UP 6 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1326.50

silver: $16.39

For comex gold:

APRIL/

NUMBER OF NOTICES FILED TODAY FOR APRIL CONTRACT:0 NOTICE(S) FOR nil OZ.
TOTAL NOTICES SO FAR 595 FOR 59500 OZ (1.8506 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 $6738/OFFER $6841: DOWN $1(morning)
Bitcoin: BID/ $6710/offer $6810: DOWN $29 (CLOSING/5 PM)

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TOMORROW IS THE JOBS REPORT AND EXPECT A VOLATILE DAY FOR GOLD/SILVER AND THE MARKETS IN GENERAL.
Let us have a look at the data for today

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In silver, the total open interest SURPRISINGLY AND SHOCKINGLY ROSE BY 8453 contracts from 232,682 RISING TO 241,135 DESPITE YESTERDAY’S 11 CENT FALL IN SILVER PRICING. TODAY WE SET A NEW ALL TIME RECORD FOR SILVER OPEN INTEREST AND EACH AND EVERY TIME, THE PRICE OF SILVER WHEN THE RECORD WAS SET IS LOWER. OBVIOUSLY, WE HAD ZERO COMEX LIQUIDATION. HOWEVER WE ALSO WITNESSED ZERO COMEX SHORT COVERING AND THUS THE REASON FOR THE RAID TODAY..TRYING TO SHAKE SOME OF THE SILVER LEAVES FROM THE SILVER TREE. WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER HUMONGOUS SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP : 3962 EFP’S FOR MAY AND ZERO FOR ALL OTHER MONTHS AND THUS TOTAL ISSUANCE OF 3962 CONTRACTS. WITH THE TRANSFER OF 3962 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 3962 CONTRACTS TRANSLATES INTO 19.810 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:

8994 CONTRACTS (FOR 4 TRADING DAYS TOTAL 8994 CONTRACTS) OR 44.97 MILLION OZ: AVERAGE PER DAY: 2249 CONTRACTS OR 11.243 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 44.97 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 6.42% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 763.46 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 GIGANTIC (ATMOSPHERIC) SIZED GAIN IN COMEX OI SILVER COMEX OF 8453 DESPITE THE 11 CENT FALL IN SILVER PRICE. WE ALSO HAD ANOTHER STRONG SIZED EFP ISSUANCE OF 3962 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 3962 EFP’S FOR THE MONTH OF MAY WERE ISSUED FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE GAINED A HUMONGOUS 12,415 OI CONTRACTS ON THE TWO EXCHANGES: i.e. 3962 open interest contracts headed for London (EFP’s) TOGETHER WITH AN INCREASE OF 8453 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 11 CENTS AND A CLOSING PRICE OF $16.30 WITH RESPECT TO WEDNESDAY’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. 1.206 BILLION TO BE EXACT or 172% 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 241,135 AND AGAIN THIS HAS BEEN SET WITH A STILL LOWER PRICE. THE PREVIOUS RECORD WAS 234,000 CONTRACTS WITH A SILVER PRICE CLOSING OF $17.89.

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 241,135 CONTRACTS (OR 1.207 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 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 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 CONSIDERABLE SIZED 6569 CONTRACTS UP TO 499,710 ACCOMPANYING THE SMALL SIZED RISE IN PRICE/YESTERDAY’S TRADING ( GAIN OF $2.90). AS WE ENTER THE ACTIVE DELIVERY MONTH OF APRIL. THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A RATHER LARGE SIZED 12,098 CONTRACTS : JUNE SAW THE ISSUANCE OF 12,098 CONTRACTS AND ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 499,710. 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 HUMONGOUS OI GAIN IN CONTRACTS ON THE TWO EXCHANGES: 6569 OI CONTRACTS INCREASED AT THE COMEX AND A STRONG SIZED 12,098 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI GAIN: 18,667 CONTRACTS OR 1,866,700 OZ =58.06 TONNES

YESTERDAY, WE HAD 691 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF APRIL : 39,730 CONTRACTS OR 3,973,000 OZ OR 123.57 TONNES (4 TRADING DAYS AND THUS AVERAGING: 9933 EFP CONTRACTS PER TRADING DAY OR 993,300 OZ/ TRADING DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : SO FAR THIS MONTH IN 4 TRADING DAYS IN TONNES: 125.57 TONNES

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

THUS EFP TRANSFERS REPRESENTS 125.57/2550 x 100% TONNES = 4.92% 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: 2168.07 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 HUGE SIZED INCREASE IN OI AT THE COMEX DESPITE THE SMALL SIZED GAIN IN PRICE IN GOLD TRADING YESTERDAY ($2.90 GAIN). WE HAD A VERY LARGE SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 12098 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 12098 EFP CONTRACTS ISSUED, WE HAD A HUMONGOUS NET GAIN IN OPEN INTEREST OF 18,667 contracts ON THE TWO EXCHANGES:

12098 CONTRACTS MOVE TO LONDON AND 6569 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 58.06 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 DOWN $8.20 : WE HAD TWO ENTRIES IN GOLD TONNAGE AT THE GLD: 1)A WITHDRAWAL OF .29 TONNES TO PAY FOR FEES. AND 2) A DEPOSIT OF 2.06 TONNES

Inventory rests tonight: 854.09 tonnes.

SLV/

WITH SILVER UP 6 CENTS TODAY: NO CHANGES/

/INVENTORY RESTS AT 318.877 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 AN ATMOSPHERIC 8453 CONTRACTS from 232,682 UP TO 241,135 (AND A NEW COMEX RECORD SET TODAY/APRIL 5/2017. THE PREVIOUS RECORD WAS 234,787 SET ON APRIL 21.2017 ALMOST ONE YEAR AGO. THE PRICE OF SILVER ON THAT DAY: $17.89). THIS ALL OCCURRED SURPRISINGLY WITH THE FALL IN PRICE OF SILVER (11 CENTS// YESTERDAY’S TRADING). OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 3962 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 8453 CONTRACTS TO THE 3962 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN AN ATMOSPHERIC GAIN OF 12,415 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: 62.075 MILLION OZ!!!

RESULT: A HUMONGOUS SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE FALL IN SILVER PRICING / YESTERDAY (11 CENTS) . BUT WE ALSO HAD ANOTHER VERY GOOD SIZED 3962 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)THURSDAY MORNING/WEDNESDAY NIGHT: Shanghai closed HOLIDAY /Hang Sang CLOSED HOLIDAY / The Nikkei closed UP 325.87 POINTS OR 1.53%/Australia’s all ordinaires CLOSED UP .41% /Chinese yuan (ONSHORE) closed UP at 6.3033/Oil DOWN to 63.22 dollars per barrel for WTI and 68.00 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN . ONSHORE YUAN CLOSED UP AT 6.3033 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.2938 /ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING MUCH STRONGER AGAINST THE DOLLAR . CHINA ON HOLIDAY TODAY/CHINA RETALIATES WITH TARIFFS/LOOKS LIKE A FULL TRADE WAR IS BEGINNING/

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