FAILED RAID ON GOLD/SILVER TODAY AS THE DOLLARS REVERSES COURSE DUE TO INFLATION EXPECTATIONS

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by Harvey Organ, Harvey Organ Blog:

GOLD DOWN $4.00 TO $1268.55/SILVER UP ONE CENT TO $16.33/REGISTERED OR DEALER GOLD DOWN TO A LOW OF 7.3 TONNES/ FOR THE SECOND STRAIGHT DAY A HUGE DEPOSIT OF SILVER INTO THE SLV: 2.918 MILLION OZ./ FOR TWO DAYS, TOTAL DEPOSIT: 5.268 MILLION OZ WITH NO CHANGE IN PRICE/SUPREME COURT DECISION ALLOWS STATES TO COLLECT TAXES ON INTEREST SALES TO CUSTOMERS OF THEIR STATE

GOLD: $1268.55 DOWN $4.00(COMEX TO COMEX CLOSINGS)

Silver: $16.33 UP 1 CENT (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1267.40

silver: $16.34

For comex gold:

JUNE/

NUMBER OF NOTICES FILED TODAY FOR JUNE CONTRACT:4 NOTICE(S) FOR 400 OZ
TOTAL NOTICES SO FAR 6796 FOR 679600 OZ (21.138 tonnes)

For silver:

JUNE

0 NOTICE(S) FILED TODAY FOR
NIL OZ/
Total number of notices filed so far this month: 1073 for 5,365,000 oz

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Bitcoin: BID $6686/OFFER $6786: DOWN $20(morning)
Bitcoin: BID/ $6676/offer $6776: DOWN $30 (CLOSING/5 PM)
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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: 1274.01
NY price at the same time: 1267.85

PREMIUM TO NY SPOT: $6.16

Second gold fix early this morning: 1270.26
USA gold at the exact same time:1262.80

PREMIUM TO NY SPOT: $7.46

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 FAIR 1135 CONTRACTS FROM 219142 DOWN TO 217,679 ACCOMPANYING YESTERDAY’S TINY 1 CENT LOSS IN SILVER PRICING. HOWEVER AS WE ARE NOW WELL INTO THE NON ACTIVE DELIVERY MONTH OF JUNE WE CONTINUE TO WITNESS LONGS PACK THEIR BAGS AND MIGRATE OVER TO LONDON IN GREATER NUMBERS. WE WERE NOTIFIED THAT WE HAD A GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP: 1319 EFP’S FOR JULY, 584 EFP’S FOR SEPT. , 0 EFP’S FOR DECEMBER AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE: OF 1903 CONTRACTS. WITH THE TRANSFER OF 1903 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 1903 EFP CONTRACTS TRANSLATES INTO 9.515 MILLION OZ ACCOMPANYING:

1.THE 1 CENT LOSS IN SILVER PRICE AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES STANDING FOR JUNE COMEX DELIVERY. (5.370 MILLION OZ) DESPITE IT BEING A NON ACTIVE DELIVERY MONTH.

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

53,096 CONTRACTS (FOR 15 TRADING DAYS TOTAL 53,096 CONTRACTS) OR 265.46 MILLION OZ: (AVERAGE PER DAY: 3539 CONTRACTS OR 17.70 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 265.46* MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 36.56% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)* WE HAVE ALREADY PASSED LAST MONTH AND CLOSING IN ON THE RECORD MONTH OF APRIL.

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 1,581.60 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

ACCUMULATION FOR MAY 2018: 210.05 MILLION OZ

RESULT: WE HAD A FAIR SIZED DECREASE IN COMEX OI SILVER COMEX OF 1135 WITH THE 1 CENT FALL IN SILVER PRICE. WE HAVE NOW ENTERED THE NEW NON ACTIVE MONTH OF JUNE AND THE CME NOTIFIED US THAT IN FACT WE HAD A GOOD SIZED EFP ISSUANCE OF 1903 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: 1319 EFP CONTRACTS FOR JULY, 584 EFP’S FOR SEPT, 0 EFP’S FOR DECEMBER AND ZERO FOR ALL OVER MONTHS FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS (TOTAL: 1903). TODAY WE GAINED AN CONSIDERABLE: 1227 TOTAL OI CONTRACTS ON THE TWO EXCHANGES: i.e.1903 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH AN DECREASE OF 1135 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 1 CENT FALL IN PRICE OF SILVER AND A CLOSING PRICE OF $16.32 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A GIGANTIC AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY IN THIS NON ACTIVE JUNE DELIVERY MONTH. IT SURE LOOKS LIKE A FAILED BANKER SHORT COVERING EXERCISE!!

In ounces AT THE COMEX, the OI is still represented by OVER 1 BILLION oz i.e. 1.088 MILLION OZ TO BE EXACT or 157% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JUNE MONTH/ THEY FILED AT THE COMEX: 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 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/2018: 27 MILLION OZ , APRIL/2018 : 2.485 MILLION OZ AND MAY: 36.285 MILLION OZ /AND JUNE/2018 (5.370 MILLION OZ SO FAR)
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).

In gold, the open interest FELL BY A SMALL 966 CONTRACTS DOWN TO 467,379 WITH THE FALL IN THE GOLD PRICE/YESTERDAY’S TRADING (A FALL OF $3.55). WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF JUNE. NO DOUBT THE BOYS ARE CASHING IN THEIR COMEX LONGS TO BEGIN THE PROCESS TO MOVE INTO LONDON FORWARDS. THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A GOOD SIZED 7988 CONTRACTS : JUNE SAW THE ISSUANCE OF 0 CONTRACTS , AND AUGUST SAW THE ISSUANCE OF: 7,988 CONTRACTS WITH ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 467,379. 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 GOOD OI GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES: 440 OI CONTRACTS DECREASED AT THE COMEX AND A GOOD SIZED 7988 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN: 7022 CONTRACTS OR 702,200 OZ = 21.84 TONNES. AND STRANGELY ALL OF THIS DEMAND OCCURRED WITH A FALL OF $3.55.???

YESTERDAY, WE HAD 13,599 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MAY : 167,058 CONTRACTS OR 16,705,800 OZ OR 519.62 TONNES (15 TRADING DAYS AND THUS AVERAGING: 11,137 EFP CONTRACTS PER TRADING DAY OR 1,113,700 OZ/ TRADING DAY),,

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 15 TRADING DAYS IN TONNES: 519.62 TONNES

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

THUS EFP TRANSFERS REPRESENTS 519.62/2550 x 100% TONNES = 20.37% OF GLOBAL ANNUAL PRODUCTION SO FAR IN APRIL ALONE.***

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 3,971.45* 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)

ACCUMULATION OF GOLD EFP’S FOR MAY 2018: 693.80 TONNES ( 22 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 SMALL SIZED DECREASE IN OI AT THE COMEX OF 966 WITH THE $3.55 FALL IN PRICING GOLD TOOK ON YESTERDAY // GOLD TRADING YESTERDAY ($3.55 DROP). WE ALSO HAD A GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 7988 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 7988 EFP CONTRACTS ISSUED, WE HAD A GOOD NET GAIN OF 7022 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:

7988 CONTRACTS MOVE TO LONDON AND 966 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 21.84 TONNES). ..AND BELIEVE IT OR NOT BUT ALL OF THIS DEMAND OCCURRED AT THE COMEX WITH A FALL OF $3.55 IN TRADING!!!.

we had: 4 notice(s) filed upon for 400 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 $4.00 TODAY: / NO CHANGES IN GOLD INVENTORY AT THE GLD/ /GLD INVENTORY 828.76 TONNES

Inventory rests tonight: 828.76 tonnes.

SLV/

WITH SILVER UP 1 CENT TODAY /ANOTHER BIG CHANGE IN THE SILVER/ A DEPOSIT OF 2.918 MILLION OZ/THE RAIDS ARE OVER.

/INVENTORY RESTS AT 319.360 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 SMALL SIZED 1135 CONTRACTS from 218,814 DOWN TO 217,679 (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:

1319 EFP’S FOR JULY, 584 EFP CONTRACTS FOR SEPT., 0 EFP CONTRACTS FOR DECEMBER AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1903 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 1135 CONTRACTS TO THE 1903 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A GAIN OF 768 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES: 3.84 MILLION OZ!!! AND THIS OCCURRED DESPITE A TINY 1 CENT FALL IN PRICE . THE BANKERS ORCHESTRATED THEIR RAID YESTERDAY DESPERATELY TRYING TO PARE THEIR GIGANTIC OPEN INTEREST SHORT ON BOTH EXCHANGES WITH HARDLY ANY SUCCESS. HOWEVER A DRAMATIC AMOUNT OF EFP ISSUANCE IS HEADING OVER TO LONDON AND NO DOUBT WE WILL COME CLOSE TO BREAKING APRIL’S RECORD OF 385 MILLION OZ.

RESULT: A FAIR SIZED DECREASE IN SILVER OI AT THE COMEX WITH THE 1 CENT FALL THAT SILVER TOOK IN PRICING ON YESTERDAY. BUT WE ALSO HAD ANOTHER HUMONGOUS SIZED 1903 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG SIZED AMOUNT OF SILVER OUNCES STANDING FOR JUNE, 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)THURSDAY MORNING/WEDNESDAY NIGHT: Shanghai closed DOWN 39.92 POINTS OR 1.37% /Hang Sang CLOSED DOWN 410.12 POINTS OR 1.35% / The Nikkei closed UP 137.61 POINTS OR 0.61% /Australia’s all ordinaires CLOSED UP 0.93% /Chinese yuan (ONSHORE) closed DOWN at 6.4976/Oil DOWN to 64.80 dollars per barrel for WTI and 73.63 for Brent. Stocks in Europe OPENED DEEPLY IN THE RED//. ONSHORE YUAN CLOSED DOWN AT 6.4976 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.5045/ONSHORE YUAN TRADING STRONGER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING MUCH 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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