HUGE VOLATILITY ON THE MARKETS TODAY WITH A SWING IN THE DOW OF OVER 500 POINTS

0
354

by Harvey Organ, Harvey Organ Blog:

DOW RESCUED IN LAST 90 SECONDS/GOLD UP $7.05 TO $1312.10/SILVER UP ANOTHER 7 CENTS TO $16.43/A MONSTROUS 17,000 EFP CONTRACTS ISSUED FOR GOLD FOR THIS MORNING/AND MORE SWAMP STORIES FOR YOU TONIGHT

GOLD: $1312.10 UP $ 7.05 (COMEX TO COMEX CLOSINGS)

Silver: $16.43 UP 7 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1312.35

silver: $16.43

For comex gold:

MAY/

NUMBER OF NOTICES FILED TODAY FOR MAY CONTRACT:0 NOTICE(S) FOR nil OZ.
TOTAL NOTICES SO FAR 14 FOR 1400 OZ (0.0435 tonnes)

For silver:

MAY

482 NOTICE(S) FILED TODAY FOR
2,410,000 OZ/
Total number of notices filed so far this month: 3451 for 17,255,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

Bitcoin: BID $9164/OFFER $9264: DOWN $17(morning)
Bitcoin: BID/ $9543/offer $9642: UP $362 (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: 1316.49
NY price at the same time: 1309.50

PREMIUM TO NY SPOT: $6.99

ss

Second gold fix early this morning: 1317.75
USA gold at the exact same time: 1308.50

PREMIUM TO NY SPOT: $9.25

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.

FEDERAL RESERVE OF NEW YORK/EARMARKED GOLD REPORT
The Federal Reserve Bank of New York releases a report on the 29th of every month as to what foreign gold that is stored there is repatriated back to its mother country. They generally report that a country wishes to repatriate like they did with Germany, Holland and Venezuela. Turkey announced that it has told the FRBNY to repatriate its gold back to Turkey. The FRBNY did not make an announcement on that issue:
Here is the report for March 29.2018:
The total number of oz of gold that left the FRBNY during the month March was $17 million and the gold leaving was priced at $42.22 per oz
Thus $42.22 dollars equals one oz
17 million dollars equals 402,652.77 oz
Thus a measly 12.524 tonnes leaves the shores of NY for Instanbul
Turkey has in excess of 300 tonnes of gold stored in NY
end
Let us have a look at the data for today

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

In silver, the total OPEN INTEREST FELL BY A CONSIDERABLE 1290 CONTRACTS FROM 194,965 FALLING TO 193,395 DESPITE YESTERDAY’S 24 CENT GAIN IN SILVER PRICING. WE ARE NOW WITNESSING OUR USUAL AND CUSTOMARY COMEX LONG LIQUIDATION AS WE ENTERED INTO THE ACTIVE DELIVERY MONTH OF MAY AS LONGS PACK THEIR BAGS AND MIGRATE OVER TO LONDON. WE WERE NOTIFIED THAT WE HAD A GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP : , 2148 EFP’S FOR JULY AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE OF 2148 CONTRACTS. WITH THE TRANSFER OF 2148 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 2148 EFP CONTRACTS TRANSLATES INTO 10.74 MILLION OZ ACCOMPANYING:

1.THE RISE IN SILVER PRICE (24 CENTS) AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES STANDING FOR MAY COMEX DELIVERY. (26.7 MILLION OZ)

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

8882 CONTRACTS (FOR 3 TRADING DAYS TOTAL 8882 CONTRACTS) OR 44.41 MILLION OZ: AVERAGE PER DAY: 2960 CONTRACTS OR 14.803 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 44.41 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 6.34% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 1,189.9 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

ACCUMULATION FOR APRIL 2018: 385.75 MILLION OZ

RESULT: WE HAD A CONSIDERABLE SIZED FALL IN COMEX OI SILVER COMEX OF 1290 DESPITE THE 24 CENT GAIN IN SILVER PRICE. WE HAVE NOW ENTERED THE NEW ACTIVE MONTH OF MAY. THE CME NOTIFIED US THAT IN FACT WE HAD AN STRONG SIZED EFP ISSUANCE OF 2148 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: 2148 EFP CONTRACTS FOR JULY, AND ZERO FOR ALL OVER MONTHS FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS (TOTAL: 2148). TODAY WE GAINED 974 TOTAL OI CONTRACTS ON THE TWO EXCHANGES: i.e. 2148 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH AN DECREASE OF 1290 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE RISE IN PRICE OF SILVER OF 24 CENTS AND A CLOSING PRICE OF $16.36 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY IN THIS ACTIVE MAY DELIVERY MONTH. IT SURE SEEMS THAT WE MUST HAVE HAD SOME BANKER SHORT COVERING ON BOTH EXCHANGES.

In ounces AT THE COMEX, the OI is still represented by UNDER 1 BILLION oz i.e. .967 MILLION OZ TO BE EXACT or 138% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED AT THE COMEX: 482 NOTICE(S) FOR 2,410,000 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 , APRIL: 2.485 MILLION OZ AND MAY: 26.7 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/ 385.75 MILLION OZ/ (FINAL)
AND YET, WITH THE EXTREMELY HIGH EFP ISSUANCE, 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 A STRONG 6691 CONTRACTS DOWN TO 501,065 WITH THE FALL IN THE GOLD PRICE/YESTERDAY’S TRADING (LOSS OF $1.15). WE ARE NOW IN THE NON ACTIVE DELIVERY MONTH OF MAY. THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED AN ATMOSPHERIC SIZED 17,479 CONTRACTS : JUNE SAW THE ISSUANCE OF 17,479 CONTRACTS , MAY SAW THE ISSUANCE OF 0 CONTRACTS AND AUGUST SAW THE ISSUANCE OF: 0 CONTRACTS WITH ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 501,065. 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. . 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 SIZED OI GAIN IN CONTRACTS ON THE TWO EXCHANGES: 6691 OI CONTRACTS DECREASED AT THE COMEX AND AN ATMOSPHERIC SIZED 17,4797 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI GAIN: 10,788 CONTRACTS OR 1,078,800 OZ = 33.56 TONNES. AND ALL OF THIS OCCURRED WITH A LOSS OF $1.15 DURING YESTERDAY’S CONTINUAL BOMBARDMENT???

YESTERDAY, WE HAD 13,207 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MAY : 36,433 CONTRACTS OR 3643,300 OZ OR 113.32 TONNES (3 TRADING DAYS AND THUS AVERAGING: 12,144 EFP CONTRACTS PER TRADING DAY OR 1,214,400 OZ/ TRADING DAY),

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 3 TRADING DAYS IN TONNES: 113.32 TONNES

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

THUS EFP TRANSFERS REPRESENTS 113.32/2550 x 100% TONNES = 2.31% OF GLOBAL ANNUAL PRODUCTION SO FAR IN APRIL ALONE.*** THE ACCUMULATION OF EFP CONTRACTS IS RISING PER MONTH.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 2,871.27* 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 (22 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR APRIL 2018: 713.84 TONNES (21 TRADING DAYS)

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 GOOD DECREASE IN OI AT THE COMEX OF 6691 DESPITE THE TINY FALL IN PRICE // GOLD TRADING YESTERDAY ($1.15 LOSS). HOWEVER WE ALSO HAD A HUMONGOUS SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 17,479 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 17,479 EFP CONTRACTS ISSUED, WE HAD A STRONG SIZED NET GAIN OF 10,788 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:

6691 CONTRACTS MOVE TO LONDON AND 17,479 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 33.56 TONNES).

we had: 0 notice(s) filed upon for NIL oz of gold at the comex.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

GLD…

WITH GOLD UP $7.05 /NO CHANGES IN GOLD INVENTORY AT THE GLD

Inventory rests tonight: 866.77 tonnes.

SLV/

WITH SILVER UP 7 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/

/INVENTORY RESTS AT 322.981 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 A CONSIDERABLE 1290 CONTRACTS from 194,685 DOWN TO 193,395 (AND FURTHER FROM THE NEW COMEX RECORD SET /APRIL 9/2017 AT 243,411/SILVER PRICE AT THAT DAY: $16.53). THE PREVIOUS RECORD OTHER THAN WAS ESTABLISHED AT: 234,787, SET ON APRIL 21.2017 OVER ONE YEAR AGO. THE PRICE OF SILVER ON THAT DAY: $17.89. OUR CUSTOMARY MIGRATION OF COMEX LONGS MORPH INTO LONDON FORWARDS CONTINUES AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE: 0 EFP CONTRACTS FOR APRIL, 0 EFP CONTRACTS FOR MAY (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM), AND 2148 EFP’S FOR JULY AND ALL OTHER MONTHS ZERO. TOTAL EFP ISSUANCE: 2148 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 1290 CONTRACTS TO THE 2148 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A GAIN OF 858 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES: 4.29 MILLION OZ!!! AND THIS OCCURRED DESPITE THE RISE IN PRICE OF 24 CENTS. THE BANKERS ORCHESTRATED THEIR RAID THROUGHOUT LAST WEEK DESPERATELY TRYING TO PARE THEIR GIGANTIC OPEN INTEREST SHORT ON BOTH EXCHANGES BUT TO NO AVAIL. JUDGING BY THE RECORD NUMBER OF EFP ISSUANCE DURING LAST MONTH OF APRIL AT 385.75 MILLION OZ AND THE TOTAL OI GAIN ON THE TWO EXCHANGES, I DO NOT THINK THAT OUR BANKERS HAVE BEEN TOO SUCCESSFUL. THE CONSTANT RAIDS ARE NOW BEING CALLED UPON BY OUR BANKER FRIENDS ARE DONE IN AN ATTEMPT TO SHAKE AS MANY SILVER LEAVES FROM THE SILVER TREE AS POSSIBLE.

RESULT: A STRONG SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE RISE IN SILVER PRICING / YESTERDAY (24 CENTS/) . BUT WE ALSO HAD ANOTHER GOOD SIZED 2148 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.

(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 UP 19.68 points or .64% /Hang Sang CLOSED down 410.51 points or 1.34% / The Nikkei closed HOLIDAY /Australia’s all ordinaires CLOSED UP .82% /Chinese yuan (ONSHORE) closed UP at 6.3482/Oil DOWN to 67.91 dollars per barrel for WTI and 72.95 for Brent. Stocks in Europe OPENED DEEPLY IN THE RED. ONSHORE YUAN CLOSED UP AT 6.3482 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3514/ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING 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