OLD UP $1.90 TO $1277.70/SILVER DOWN 6 CENTS TO $16.44 WITH CHINA OFF ON A HOLIDAY

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by Harvey Organ, Harvey Organ Blog:

RECORD SETTING 27000 EFP ISSUANCE FOR GOLD AND A GAIN OF 8000 OI CONTRACTS DESPITE A $28.90 LOSS IN PRICE/MERKEL GOVERNMENT IN TROUBLE DUE TO IMMIGRATION POLICY/AUDI CEO ARRESTED IN GERMANY/SWAMP STORIES

GOLD: $1277.70 UP  $1.90(COMEX TO COMEX CLOSINGS)

Silver: $16.44 DOWN 6 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1278.50

silver: $16.47

I URGE EVERYONE NOT TO INVEST/PLAY AT THE COMEX.  THEY ARE A CROOKED PUNCH AND WILL ALWAYS ATTEMPT TO STEAL AWAY YOUR MONEY.  DO NOT STORE ANY OF YOUR GOLD AT THE COMEX AS IT IS UNALLOCATED AND THE CROOKS CAN USE IT BY LENDING AND SELLING CONTRACTS X 100 ON EACH OZ OF GOLD/SILVER.

 

For comex gold:

JUNE/

NUMBER OF NOTICES FILED TODAY FOR JUNE CONTRACT:10 NOTICE(S) FOR 1000 OZ

TOTAL NOTICES SO FAR 6730 FOR 673000 OZ (20.933 tonnes)

For silver:

JUNE

18 NOTICE(S) FILED TODAY FOR

90,000 OZ/

Total number of notices filed so far this month: 1025 for 5,125,000 oz

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Bitcoin: BID $6369/OFFER $6469: DOWN $75(morning)

Bitcoin: BID/ $6668/offer $6768: UP $225  (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: HOLIDAY

NY price  at the same time: 1281.90

PREMIUM TO NY SPOT: $XXXX

Second gold fix early this morning: HOLIDAY

USA gold at the exact same time:1279.95

PREMIUM TO NY SPOT:  $XXX

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 HUMONGOUS 12,588 CONTRACTS FROM 232,754 DOWN TO 221,217 WITH FRIDAY’S STEEP  75 CENT LOSS IN SILVER PRICING. HOWEVER  AS WE ENTERED INTO THE NON ACTIVE DELIVERY MONTH OF JUNE WE WITNESS LONGS PACK THEIR BAGS AND MIGRATE OVER TO LONDON.  WE WERE  NOTIFIED THAT WE HAD AN ATMOSPHERIC SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP: 6938 EFP’S FOR JULY, 195 EFP’S FOR SEPT. , 0 EFP’S FOR DECEMBER AND ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE: OF 7133 CONTRACTS. WITH THE TRANSFER OF 7133 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 7133 EFP CONTRACTS TRANSLATES INTO 35.66 MILLION OZ  ACCOMPANYING:

1.THE 75 CENT LOSS IN  SILVER PRICE  AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES STANDING FOR JUNE COMEX DELIVERY. (5.180 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:

39,333 CONTRACTS (FOR 12 TRADING DAYS TOTAL 39,333 CONTRACTS) OR 196.665 MILLION OZ: (AVERAGE PER DAY: 3278 CONTRACTS OR 16.388 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  196.67 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 16.1% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:            1,512.775      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 HUMONGOUS SIZED DECREASE IN COMEX OI SILVER COMEX OF 12,588 WITH THE HUGE 75 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 VERY STRONG SIZED EFP ISSUANCE OF 7133 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:  6938 EFP CONTRACTS FOR JULY,  195 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: 7133). TODAY WE LOST A CONSIDERABLE: 5455 TOTAL OI CONTRACTS  ON THE TWO EXCHANGES: i.e.7133 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH AN DECREASE OF 12,588  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE  75 CENT FALL IN PRICE OF SILVER  AND A CLOSING PRICE OF $16.50 WITH RESPECT TO FRIDAY’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. 1.106 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: 18 NOTICE(S) FOR 90,000 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:

  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  (5.180 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 STRONG 8,241 CONTRACTS UP TO 472,680 DESPITE THE NASTY FALL IN THE GOLD PRICE/FRIDAY’S TRADING (A CLOBBERING OF $28.90).  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 RECORD SIZED 27,009 CONTRACTS :   JUNE SAW THE ISSUANCE OF 0 CONTRACTS , AND AUGUST SAW THE ISSUANCE OF:  27009 CONTRACTS WITH ALL OTHER MONTHS ZERO.  The new OI for the gold complex rests at 476,680. 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 AN ATMOSPHERIC AND RECORD SIZED OI GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES: 8,241 OI CONTRACTS INCREASED AT THE COMEX AND AN ATMOSPHERIC AND RECORD SIZED 27,009 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN: 35,250 CONTRACTS OR 3,525,000 OZ = 109.64 TONNES. AND STRANGELY ALL OF THIS DEMAND OCCURRED WITH A NASTY FALL OF  $28.90.

FRIDAY, WE HAD 13167  EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MAY : 132,730 CONTRACTS OR 13,273,000  OZ OR 412.84 TONNES (12 TRADING DAYS AND THUS AVERAGING: 11060 EFP CONTRACTS PER TRADING DAY OR 1,106,000 OZ/ TRADING DAY),,

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 12 TRADING DAYS IN  TONNES: 412.84 TONNES

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

THUS EFP TRANSFERS REPRESENTS 412.84/2550 x 100% TONNES =  16.18% OF GLOBAL ANNUAL PRODUCTION SO FAR IN APRIL ALONE.***

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  3,864.65*  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 STRONG SIZED INCREASE IN OI AT THE COMEX OF 8241 DESPITE THE $28.90 CLOBBERING THAT GOLD TOOK IN PRICING // GOLD TRADING FRIDAY ($28.90 FALL).  WE ALSO HAD AN ATMOSPHERIC AND RECORD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 27,009 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 27,009 EFP CONTRACTS ISSUED, WE HAD A HUGE AND RECORD SETTING NET GAIN OF 35,250 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES:

27009 CONTRACTS MOVE TO LONDON AND 8241 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 109.64 TONNES). ..AND BELIEVE IT OR NOT BUT ALL OF THIS DEMAND OCCURRED AT THE COMEX WITH A LOSS OF $28.90 IN TRADING!!!. THIS IS AN ABSOLUTE FRAUD!!

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  UP $1.90  TODAY: / NO CHANGES IN GOLD INVENTORY AT THE GLD/ /GLD INVENTORY 828.76 TONNES

Inventory rests tonight: 828.76 tonnes.

SLV/

WITH SILVER  DOWN 6 CENTS TODAY /NO CHANGES IN THE SILVER/

/INVENTORY RESTS AT 314.090 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 HUMONGOUS SIZED 12,588 CONTRACTS from  232,754 DOWN TO 220,166 (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:

6551 EFP’S FOR JULY, 195 EFP CONTRACTS FOR SEPT., 0 EFP CONTRACTS FOR DECEMBER  AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 7133 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 12,588 CONTRACTS TO THE 7133 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A LOSS OF 5,455 OPEN INTEREST CONTRACTS.  THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES:  27.275 MILLION OZ!!! AND THIS  OCCURRED WITH A STRONG 75 CENT FALL IN PRICE .  THE BANKERS ORCHESTRATED THEIR RAID FRIDAY  DESPERATELY TRYING TO PARE THEIR GIGANTIC OPEN INTEREST SHORT ON BOTH EXCHANGES WITH MILD SUCCESS. HOWEVER A DRAMATIC AMOUNT OF EFP ISSUANCE IS HEADING OVER TO LONDON.

RESULT: A STRONG SIZED DECREASE IN SILVER OI AT THE COMEX WITH THE 75 CENT DRUBBING THAT SILVER TOOK IN PRICING ON FRIDAY. BUT WE ALSO HAD ANOTHER STRONG SIZED 7133 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)

.

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 HLIDAY   /Hang Sang CLOSED HOLIDAY    / The Nikkei closed DOWN 171.42 POINTS OR 0.75% /Australia’s all ordinaires CLOSED UP 0.12%  /Chinese yuan (ONSHORE) closed DOWN at 6.3879/Oil DOWN to 64.79 dollars per barrel for WTI and 74.06 for Brent. Stocks in Europe OPENED DEEPLY IN THE RED//.  ONSHORE YUAN CLOSED DOWN AT 6.4379 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.4503/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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