OPTIONS EXPIRY NOW OVER BUT NOT BEFORE THEY KNOCK GOLD DOWN $4.05 TO $1318.35 AND SILVER DOWN ANOTHER 11 CENTS TO $16.36

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by Harvey Organ, Harvey Organ Blog:

NETANYAHU REPORTS THAT IRAN IS SECRETLY DEVELOPING NUCLEAR WEAPONS UNDER “PROJECT AMAD”/ISRAEL STRIKES TWO BASES INSIDE SYRIA LAST NIGHT/CHINA REFUSES TO CHANGE ITS STANCE ON RENEGOTIATING TRADE/ MORE SWAMP STORIES FOR YOU TONIGHT

GOLD: $1318.35 DOWN $ 4.05 (COMEX TO COMEX CLOSINGS)

Silver: $16.36 DOWN 11 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1315.50

silver: $16.33

For comex gold:

MAY/

NUMBER OF NOTICES FILED TODAY FOR MAY CONTRACT:10 NOTICE(S) FOR 1000 OZ.
TOTAL NOTICES SO FAR 10 FOR 10000 OZ (0.031 tonnes)

For silver:

MAY

780 NOTICE(S) FILED TODAY FOR
3,900,000 OZ/
Total number of notices filed so far this month: 780 for 3,900,000 oz

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Bitcoin: BID $9304/OFFER $9304: up $278(morning)
Bitcoin: BID/ $9248/offer $9348: up $321 (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: 1326.28
NY price at the same time: 1324.25

PREMIUM TO NY SPOT: $2.03

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Second gold fix early this morning: 1327.24
USA gold at the exact same time: 1319.15

PREMIUM TO NY SPOT: $8.09

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 ROSE BY A SMALL 324 CONTRACTS FROM 189,858 RISING TO 190,177 WITH FRIDAY’S SMALL 5 CENT FALL IN SILVER PRICING. AFTER A STRING OF 4 CONSECUTIVE OI GAINS, WE ENDED OUR 5 CONSECUTIVE DROPS IN OI WITH THE TINY RISE. 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 AN FAIR SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP : 0 EFP CONTRACTS FOR APRIL, 206 EFP’S FOR MAY , 1066 EFP’S FOR JULY AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE OF 1272 CONTRACTS. WITH THE TRANSFER OF 1272 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 1272 EFP CONTRACTS TRANSLATES INTO 6.36 MILLION OZ ACCOMPANYING:

1.THE FALL IN SILVER PRICE (5 CENTS) AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES STANDING FOR MAY COMEX DELIVERY. (24.1 MILLION OZ)

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

77,150 CONTRACTS (FOR 21 TRADING DAYS TOTAL 77,150 CONTRACTS) OR 385.75 MILLION OZ: AVERAGE PER DAY: 3673 CONTRACTS OR 18.369 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 385.75 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 55.00% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 1.1424 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

ACCUMULATION FOR APRIL 2018: 385.75 MILLION OZ

RESULT: WE HAD A SMALL SIZED RISE IN COMEX OI SILVER COMEX OF 324 WITH THE TINY 5 CENT LOSS IN SILVER PRICE AS OUR CUSTOMARY COMEX LONG MIGRATION INTO LONDON BASED FORWARDS CONTINUED IN EARNEST AS WE HAVE NOW ENTERED THE NEW ACTIVE MONTH OF MAY. THE CME NOTIFIED US THAT IN FACT WE HAD AN FAIR SIZED EFP ISSUANCE OF 1272 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: 0 CONTRACTS WERE ISSUED FOR APRIL, 206 EFP’S WERE ISSUED FOR THE MONTH OF MAY, AND 1066 EFP CONTRACTS FOR JULY, FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS (TOTAL: 1272). TODAY WE GAINED 1596 TOTAL OI CONTRACTS ON THE TWO EXCHANGES: i.e. 1272 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH AN INCREASE OF 324 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 5 CENTS AND A CLOSING PRICE OF $16.47 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. .951 MILLION OZ TO BE EXACT or 136% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED AT THE COMEX: 780 NOTICE(S) FOR 3,900,000 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: 24.1 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)
PRIOR TO APRIL, WE AVERAGED APPROXIMATELY 238 MILLION OZ OF SILVER EFP’S ISSUED. WHEN WE SET THE RECORD IN APRIL (APRIL 9) WE REGISTERED 243,411 OPEN INTEREST CONTRACTS AT THE COMEX. WE HAVE LOST EXACTLY 53,000 OI CONTRACTS WITH A FALL OF ONLY 7 CENTS. (OPEN INTEREST AT THE COMEX HAS DECLINED BY 53,000 CONTRACTS FROM THE RECORD SETTING DAY OF APRIL 9/2018 TO TODAY’S LEVEL OF 190,203) IN THE MONTH OF APRIL WE HAVE GAINED 148 MILLION OZ OF EFP FROM AN AVERAGE 238 MILLION OZ OR A GAIN OF 29,600 CONTRACTS. WHEN THE COMEX OPEN INTEREST CONTRACTS WE MUST SEE A FALL IN PRICE AND THAT IS WHEN THE COMMERCIALS ENTER AND BUY UP THE LIQUIDATED CONTRACTS OF THE SPECULATORS. SOMEHOW THIS DID NOT HAPPEN AS WE WITNESS A DIFFERENTIAL FALL OF 53,000 – 29600 = 23,400 CONTRACTS WITH HARDLY A CHANGE IN PRICE???/

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 4206 CONTRACTS DOWN TO 495,761 DESPITE THE RISE IN THE GOLD PRICE/FRIDAY’S TRADING ( GAIN OF $5.90). WE ARE NOW IN THE NON ACTIVE DELIVERY MONTH OF MAY. THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A GOOD SIZED 7816 CONTRACTS : JUNE SAW THE ISSUANCE OF 7816 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 496,424. 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 FAIR SIZED OI GAIN IN CONTRACTS ON THE TWO EXCHANGES: 4206 OI CONTRACTS DECREASED AT THE COMEX AND AN GOOD SIZED 7816 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI GAIN: 3610 CONTRACTS OR 361,000 OZ = 11.22 TONNES.

FRIDAY, WE HAD 8670 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF APRIL : 229,436 CONTRACTS OR 22,943,600 OZ OR 713.64 TONNES (21 TRADING DAYS AND THUS AVERAGING: 10,925 EFP CONTRACTS PER TRADING DAY OR 1,092,500 OZ/ TRADING DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 21 TRADING DAYS IN TONNES: 713.84 TONNES

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

THUS EFP TRANSFERS REPRESENTS 713.84/2550 x 100% TONNES = 27.99% 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: 2,758.40* 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: AN DECREASE IN OI AT THE COMEX OF 4206 DESPITE THE RISE IN PRICE // GOLD TRADING FRIDAY ($5.90 GAIN). WE ALSO HAD A GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 7816 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 7816 EFP CONTRACTS ISSUED, WE HAD A GOOD SIZED NET GAIN OF 3610 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:

7816 CONTRACTS MOVE TO LONDON AND 4206 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 13.290 TONNES).

we had: 10 notice(s) filed upon for 1000 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 $4.04 /NO CHANGE IN GOLD INVENTORY AT THE GLD

Inventory rests tonight: 871.20 tonnes.

SLV/

WITH SILVER DOWN 11 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/

/INVENTORY RESTS AT 316.899 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 SMALL 324 CONTRACTS from 189,858 UP TO 190,177 (AND CLOSER TO 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. AFTER WE HAVE HAD FOUR CONSECUTIVE OI GAINS WE NOW ENDED FIVE CONSECUTIVE OI DROPS. 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, 206 EFP CONTRACTS FOR MAY (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM), AND 1066 EFP’S FOR JULY AND ALL OTHER MONTHS ZERO. TOTAL EFP ISSUANCE: 1272 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 324 CONTRACTS TO THE 1272 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A GOOD GAIN OF 1596 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES: 7.98 MILLION OZ!!! AND THIS OCCURRED DESPITE A TINY FALL IN PRICE OF 5 CENTS. THE BANKERS ORCHESTRATED THEIR RAID THROUGHOUT THE WEEK TO DESPERATELY TRY AND PARE THEIR GIGANTIC OPEN INTEREST SHORT ON BOTH EXCHANGES BUT TO NO AVAIL. JUDGING BY THE RECORD NUMBER OF ISSUANCE DURING THIS MONTH OF APRIL AT 385.75 MILLION OZ. I DO NOT THINK THAT OUR BANKERS HAVE BEEN TOO SUCCESSFUL. IT SURE LOOKS TO ME LIKE WE HAD SOME GOOD OLD FASHIONED BANKER SHORT COVERING, YET THE PRICE REMAINS RELATIVELY CONSTANT.

RESULT: A SMALL SIZED INCREASE IN SILVER OI AT THE COMEX WITH THE FALL IN SILVER PRICING / YESTERDAY (5 CENTS/) . BUT WE ALSO HAD ANOTHER GOOD SIZED 1272 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)

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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)MONDAY MORNING/SUNDAY NIGHT: Shanghai closed UP 7.20 POINTS OR 0.23% /Hang Sang CLOSED UP 527.78 POINTS OR 1.74% / The Nikkei closed UP 148.26 POINTS OR 0.66%/Australia’s all ordinaires CLOSED UP .48% /Chinese yuan (ONSHORE) closed DOWN at 6.3330/Oil DOWN to 67.31 dollars per barrel for WTI and 73.03 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN. ONSHORE YUAN CLOSED UP AT 6.3330 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3231/ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING MUCH STRONGER 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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