UNBELIEVABLE RISE IN SILVER OPEN INTEREST TO THE TUNE OF 9800 CONTRACTS ON TOP OF A HUGE 4800 EFP ISSUANCE AS DEMAND FOR SILVER GOES THROUGH THE ROOF

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by Harvey Organ, Harvey Organ Blog:

GOLD DOWN 10 CENTS TO $1298.60/SILVER DOWN 5 CENTS TO $16.73/ALASDAIR MACLEOD: A MUST READ THIS WEEKEND/MICHAEL HOROWITZ IG REPORT WILL BE OUT JUNE 14/TOP SENATE STAFFER ARRESTED FOR LEAKING PLUS DOCUMENTS REMOVED FROM A NEW YORK TIMES REPORTER/THE CROOK MUELLER CHARGES MANAFORT WITH ANOTHER 7 CHARGES OF WITNESSING TAMPERING

GOLD: $1298.60 DOWN $0.10 (COMEX TO COMEX CLOSINGS)

Silver: $16.73 DOWN 5 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1298.90

silver: $16.78

For comex gold:

JUNE/

NUMBER OF NOTICES FILED TODAY FOR JUNE CONTRACT:4049 NOTICE(S) FOR 404900 OZ.
TOTAL NOTICES SO FAR 5853 FOR 585300 OZ (18.205 tonnes)

For silver:

JUNE

14 NOTICE(S) FILED TODAY FOR
70,000 OZ/
Total number of notices filed so far this month: 894 for 4,470,000 oz

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Bitcoin: BID $7579/OFFER $7679: down $51(morning)
Bitcoin: BID/ $7593/offer $7693: DOWN $37 (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: 1302.88
NY price at the same time: 1297.50

PREMIUM TO NY SPOT: $5.48

Second gold fix early this morning: 1301.30
USA gold at the exact same time:1295.85

PREMIUM TO NY SPOT: $5.45

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 AN ATMOSPHERIC 9773 CONTRACTS FROM 220,693 UP TO 230,525 ACCOMPANYING YESTERDAY’S SMALL 12 CENT RISE IN SILVER PRICING. WE ARE NOW WITNESSING OUR USUAL AND CUSTOMARY COMEX LONG LIQUIDATION AS WE ENTERED INTO THE NON ACTIVE DELIVERY MONTH OF JUNE AS LONGS PACK THEIR BAGS AND MIGRATE OVER TO LONDON. WE WERE NOTIFIED THAT WE HAD A GIGANTIC SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP 4696 EFP’S FOR JULY 85 EFP’S FOR SEPT. AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE: OF 4781 CONTRACTS. WITH THE TRANSFER OF 4781 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 4781 EFP CONTRACTS TRANSLATES INTO 23.91 MILLION OZ ACCOMPANYING:

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

2. THE STRONG AMOUNT OF SILVER OUNCES STANDING FOR JUNE COMEX DELIVERY. (4.480 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:

15,718 CONTRACTS (FOR 6 TRADING DAYS TOTAL 15,718 CONTRACTS) OR 78.59 MILLION OZ: (AVERAGE PER DAY: 2619 CONTRACTS OR 13.098 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 78.59 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 11.22% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 1,392.94 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 AN ATMOSPHERIC SIZED INCREASE IN COMEX OI SILVER COMEX OF 9852 DESPITE THE TINY 12 CENT RISE IN SILVER PRICE. WE HAVE NOW ENTERED THE NEW NON ACTIVE MONTH OF JUNE. THE CME NOTIFIED US THAT IN FACT WE HAD AN HUMONGOUS SIZED EFP ISSUANCE OF 4781 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: 4696 EFP CONTRACTS FOR JULY, 85 EFP’S FOR SEPT. AND ZERO FOR ALL OVER MONTHS FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS (TOTAL: 4781). TODAY WE GAINED AN OUT OF THIS WORLD: 14,613 TOTAL OI CONTRACTS ON THE TWO EXCHANGES: i.e.4781 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH AN INCREASE OF 9832 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE SMALL 12 CENT RISE IN PRICE OF SILVER AND A CLOSING PRICE OF $16.78 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. 1.153 MILLION OZ TO BE EXACT or 164% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JUNE MONTH/ THEY FILED AT THE COMEX: 14 NOTICE(S) FOR 70,000 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. (AND IN LOOKS LIKE WE ARE GOING TO SEE ANOTHER RECORD HIT THIS MONTH)

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: 36.285 MILLION OZ /AND JUNE (4.480 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). IT ALSO LOOKS LIKE BANKER CAPITULATION IN SILVER AS THEY STRUGGLE TO REMOVE SOME OF THEIR HUGE OBLIGATIONS.

In gold, the open interest ROSE BY A CONSIDERABLE 5805 CONTRACTS UP TO 450,367 DESPITE THE GAIN IN THE GOLD PRICE/YESTERDAY’S TRADING (RISE 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 ISSUANCE AND IT TOTALED AN ATMOSPHERIC SIZED 19,617 CONTRACTS : JUNE SAW THE ISSUANCE OF 0 CONTRACTS , AND AUGUST SAW THE ISSUANCE OF: 19,617 CONTRACTS WITH ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 450,367. 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 OUT OF THIS WORLD SIZED OI GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES: 4653 OI CONTRACTS INCREASED AT THE COMEX AND AN ATMOSPHERIC SIZED 19,617 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN: 24,270 CONTRACTS OR 2,427,000 OZ = 75.49 TONNES. AND ALL OF THIS DEMAND OCCURRED WITH A SMALL GAIN OF $1.45 (GO FIGURE!!)

YESTERDAY, WE HAD 11,908 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MAY : 66,313 CONTRACTS OR 6,631,300 OZ OR 206.26 TONNES (6 TRADING DAYS AND THUS AVERAGING: 11,052 EFP CONTRACTS PER TRADING DAY OR 1,105,200 OZ/ TRADING DAY),,

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 6 TRADING DAYS IN TONNES: 206.26 TONNES

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

THUS EFP TRANSFERS REPRESENTS 206.26/2550 x 100% TONNES = 7.93% OF GLOBAL ANNUAL PRODUCTION SO FAR IN APRIL ALONE.***

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 3,658.09* 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 CONSIDERABLE SIZED INCREASE IN OI AT THE COMEX OF 4653 DESPITE THE SMALL $1.45 GAIN IN PRICE // GOLD TRADING YESTERDAY ($1.45 RISE). WE ALSO HAD AN ATMOSPHERIC SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 19,617 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 19,617 EFP CONTRACTS ISSUED, WE HAD AN NET RECORD BREAKING GAIN OF 24,270 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:

19,617 CONTRACTS MOVE TO LONDON AND 4653 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 75.49 TONNES). ..AND BELIEVE IT OR NOT BUT ALL OF THIS DEMAND OCCURRED AT THE COMEX WITH A TINY GAIN OF $1.45 IN TRADING!!!.

we had: 4049 notice(s) filed upon for 404,900 oz of gold at the comex.(12.59 tonnes)

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

GLD…

WITH GOLD DOWN$0.10 TODAY: / NO CHANGES IN GOLD INVENTORY AT THE GLD/ A

Inventory rests tonight: 832.59 tonnes.

SLV/

WITH SILVER DOWN 5 CENTS TODAY / A BIG CHANGE IN THE SILVER INVENTORY AT THE SLV /A WITHDRAWAL OF 1.412 MILLION OZ OF SILVER INVENTORY FROM THE SLV/ DESPITE ALL OF THAT DEMAND!! GO FIGURE

/INVENTORY RESTS AT 319.266 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 AN ATMOSPHERIC SIZED 9773 CONTRACTS from 220,693 UP TO 230,466 (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: (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM), 4696 EFP’S FOR JULY, 85 EFP CONTRACTS FOR SEPT. AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 4781 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 9773 CONTRACTS TO THE 4781 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN AN OUT OF THIS WORLD GAIN OF 14,554 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES: 72.77 MILLION OZ!!! AND THIS GIGANTIC SIZED DEMAND OCCURRED DESPITE JUST A TINY 12 CENT RISE IN PRICE . 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 APRIL AT 385.75 MILLION OZ AND THE CONTINUAL OI GAIN ON THE TWO EXCHANGES, THE CONSTANT RAIDS, (THAT ARE NOW BEING CALLED UPON BY OUR BANKER FRIENDS IN AN ATTEMPT TO SHAKE AS MANY SILVER LEAVES FROM THE SILVER TREE AS POSSIBLE) AND JUDGING BY THE RESULTS FROM YESTERDAYS ACTION, THEY HAVE NOT BEEN AT ALL SUCCESSFUL.

RESULT: A STRONG SIZED INCREASE IN SILVER OI AT THE COMEX WITH THE 12 CENT GAIN IN SILVER PRICING YESTERDAY. BUT WE ALSO HAD ANOTHER STRONG SIZED 4781 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)FRIDAY MORNING/THURSDAY NIGHT: Shanghai closed DOWN 42.35 points or 1.36% /Hang Sang CLOSED UP 554.42 points or 1.76% / The Nikkei closed DOWN 128.76 POINTS OR 0.56% /Australia’s all ordinaires CLOSED DOWN .21% /Chinese yuan (ONSHORE) closed DOWN at 6.4120/Oil UP to 65.67 dollars per barrel for WTI and 76.64 for Brent. Stocks in Europe OPENED ALL RED//. ONSHORE YUAN CLOSED DOWN AT 6.4120 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.4032/ONSHORE YUAN TRADING WEAKER 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

Read More @ HarveyOrganBlog.com

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