GOLD DOWN $9.10 TO $1258.20/SILVER DOWN 8 CENTS TO $16.25 ON COMEX EXPIRY DAY

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by Harvey Organ, Harvey Organ Blog:

IRAN IN TURMOIL AS THE RIAL DEVALUES TO 90,000 TO THE DOLLAR/3 DAY RIOTS IN VARIOUS CITIES INSIDE IRAN INCLUDING TEHRAN/HUGE SWAMP STORIES FOR YOU TONIGHT

GOLD: $1258.20 DOWN $9.10(COMEX TO COMEX CLOSINGS)

Silver: $16.25 DOWN 8 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1258.75

silver: $16.31

 

TODAY IS OPTIONS EXPIRY FOR COMEX/ GOLD AND SILVER AND THIS FRIDAY, FOR OTIC/LONDON GOLD SO EXPECT EXTREME VOLATILITY FOR THE REST OF THE WEEK.

For comex gold:

JUNE/

NUMBER OF NOTICES FILED TODAY FOR JUNE CONTRACT:14 NOTICE(S) FOR 1400 OZ

TOTAL NOTICES SO FAR 6850 FOR 685000 OZ (21.306 tonnes)

For silver:

JUNE

0 NOTICE(S) FILED TODAY FOR

nil OZ/

Total number of notices filed so far this month: 1076 for 5,380,000 oz

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Bitcoin: BID $6156/OFFER $6240: DOWN  $37(morning)

Bitcoin: BID/ $6143/offer $6228: DOWN $50  (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: 1272.11

NY price  at the same time: 1265.20

PREMIUM TO NY SPOT: $6.91

Second gold fix early this morning: 1267.70

USA gold at the exact same time:1263.80

PREMIUM TO NY SPOT:  $4.90

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 CONSIDERABLE 1932 CONTRACTS FROM 219,438 UP TO 220,980 DESPITE YESTERDAY’S 12 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 LONDONTHROUGH THE EFP: 1278 EFP’S FOR JULY, 146 EFP’S FOR SEPT. , 0 EFP’S FOR DECEMBER AND ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE: OF 1426 CONTRACTS. WITH THE TRANSFER OF 1426 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 1426 EFP CONTRACTS TRANSLATES INTO 7.12 MILLION OZ  ACCOMPANYING:

1.THE 12 CENT LOSS IN  SILVER PRICE  AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES STANDING FOR JUNE COMEX DELIVERY. (5.385 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:

58,564 CONTRACTS (FOR 18 TRADING DAYS TOTAL 58,564 CONTRACTS) OR 292.82 MILLION OZ: (AVERAGE PER DAY: 3253 CONTRACTS OR 16.27 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  292.82* MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 39.77% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)* WE HAVE ALREADY PASSED LAST MONTH AND CLOSING IN ON THE RECORD MONTH OF APRIL/2018.

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:            1,608.94      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 STRONG SIZED INCREASE IN COMEX OI SILVER COMEX OF 1932 DESPITE THE 12 CENT LOSS 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 1424 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:  1278 EFP CONTRACTS FOR JULY,  146 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: 1424). TODAY WE GAINED AN HUGE: 3356 TOTAL OI CONTRACTS  ON THE TWO EXCHANGES: i.e.1424 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH AN INCREASE OF 1932  OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 12 CENT LOSS IN PRICE OF SILVER  AND A CLOSING PRICE OF $16.33 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. 1.110 MILLION OZ TO BE EXACT or 158% 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:

  1. 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  (5.385 MILLION OZ SO FAR)
  2. HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018
  3. HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017
  4. RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 385.75 MILLIONOZ/ (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 ROSE BY A CONSIDERABLE 1705 CONTRACTS UP TO 474,898 DESPITE THE FALL IN THE GOLD PRICE/YESTERDAY’S TRADING (A  DROP IN PRICE OF $1.45).  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 ISSUANCAND IT TOTALED A STRONG SIZED 9375 CONTRACTS :   JUNE SAW THE ISSUANCE OF 0 CONTRACTS , AND AUGUST SAW THE ISSUANCE OF:  9375 CONTRACTS WITH ALL OTHER MONTHS ZERO.  The new OI for the gold complex rests at 474,898. 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 STRONG  OI GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES:  1705  OI CONTRACTS INCREASED AT THE COMEX AND A STRONG SIZED 9375 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN: 11,080 CONTRACTS OR 1,108,000 OZ = 34.66 TONNES. AND STRANGELY ALL OF THIS HUGE DEMAND OCCURRED WITH A  FALL IN PRICE OF $1.45.???

YESTERDAY, WE HAD 4393  EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MAY : 192,977 CONTRACTS OR 19,297,700  OZ OR 600.217 TONNES (18 TRADING DAYS AND THUS AVERAGING: 10,720 EFP CONTRACTS PER TRADING DAY OR 1,072,000 OZ/ TRADING DAY),,

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 17 TRADING DAYS IN  TONNES: 600.22 TONNES

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

THUS EFP TRANSFERS REPRESENTS 600.22/2550 x 100% TONNES =  23.53% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JUNE ALONE.***

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  4,052.06*  TONNES   *SURPASSED ANNUAL PROD’N

ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018:           653.22  TONNES (21 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR FEBRUARY 2018:         649.45 TONNES  (20 TRADING DAYS)

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)

ACCUMULATION OF GOLD EFP FOR JUNE 2018                                                 (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 CONSIDERABLE SIZED INCREASE IN OI AT THE COMEX OF 1705 DESPITE THE $1.45 DROP IN PRICING GOLD TOOK YESTERDAY // .  WE ALSO HAD A STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 9375 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 9375 EFP CONTRACTS ISSUED, WE HAD A STRONG NET GAIN OF 11,080 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES:

9375 CONTRACTS MOVE TO LONDON AND 1705 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 34.46 TONNES). ..AND BELIEVE IT OR NOT BUT ALL OF THIS DEMAND OCCURRED  WITH A FALL OF $1.45 IN TRADING!!!. AT THE COMEX

we had: 14 notice(s) filed upon for 1400 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 $9.10  TODAY: / A HUGE CHANGES IN GOLD INVENTORY AT THE GLD/REPORTED LATE LAST NIGHT: A WITHDRAWAL OF 4.42 TONNES FROM THE GLD INVENTORY/

/GLD INVENTORY 820.21 TONNES

Inventory rests tonight: 820.21 tonnes.

SLV/

WITH SILVER  DOWN 8 CENTS TODAY /ANOTHER HUGE CHANGE IN THE SILVER: A WITHDRAWAL OF 941,000  OZ/ STRANGE!! YESTERDAY THEY ADDED THE EXACT SAME 941,000 OZ!!! WHAT CROOKS

/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 ROSE BY A CONSIDERABLE SIZED 1932 CONTRACTS from 219,048 UP TO  220,980 (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. OUR CUSTOMARY MIGRATION OF COMEX LONGS MORPH INTO LONDON FORWARDS CONTINUES AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:

1278 EFP’S FOR JULY, 146 EFP CONTRACTS FOR SEPT., 0 EFP CONTRACTS FOR DECEMBER  AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1424 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 1932 CONTRACTS TO THE 1424 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A STRONG GAIN OF 3356 OPEN INTEREST CONTRACTS.  THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES:  16.78 MILLION OZ!!! AND THIS STRONG DEMAND OCCURRED WITH A 12 CENT LOSS IN PRICE .  THE BANKERS ORCHESTRATED THEIR CONSTANT AND NEVER ENDING RAIDS  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 CONSIDERABLE SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE  THE 12 CENT LOSS THAT SILVER TOOK IN PRICING ON YESTERDAY. BUT WE ALSO HAD ANOTHER STRONG SIZED 1424 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)TUESDAY MORNING/MONDAY NIGHT: Shanghai closed DOWN 14.83 POINTS OR 0.52%   /Hang Sang CLOSED DOWN 79.99 POINTS OR 0.28%    / The Nikkei closed UP 3.85 POINTS OR 0.02% /Australia’s all ordinaires CLOSED DOWN 0.26%  /Chinese yuan (ONSHORE) closed DOWN at 6.5737 AS POBC EXERCISES A HUGE DEVALUATION IN THE LAST FEW DAYS/Oil DOWN to 67.98 dollars per barrel for WTI and 75.03 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN//.  ONSHORE YUAN CLOSED DOWN AT 6.5737 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.5746 HUGH DEVALUATION/PAST FEW DAYS//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 A FULL TRADE WAR IS BEGINNING

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