ANOTHER RAID WITH GOLD DOWN $12.15 TO $1240.90 AND SILVER DOWN 31 CENTS TO $15.83

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by Harvey Organ, Harvey Organ Blog:


THREE HUGE COMMENTARIES THAT YOU MUST READ TONIGHT: 1. NICHOLAS BIEZENEK ON EFP’S/ 2. ROB KIRBY ON DEUTSCHE BANK’S PROBLEM AND HOW THEY ARE BEING ‘FORCED OUT OF AMERICAN POOL’/3. JAMES RICKARDS COMMENTARY ON THE END GAME UTILIZING SDR’S/CHINESE YUAN COLLAPSES TO ALMOST 6.7 TO THE DOLLAR/TRADE WARS WITH EUROPE ARE ESCALATING/ALASDAIR MACLEOD’S IMPORTANT PAPER/MORE SWAMP STORIES FOR YOU TONIGHT

GOLD: $1240.90 DOWN  $12.15(COMEX TO COMEX CLOSINGS)

Silver: $15.83 DOWN 31 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1242.100

silver: $15.86

 

 

 

For comex gold:

JULY/

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

TOTAL NOTICES SO FAR 29 FOR 2900 OZ (0.0902 tonnes)

For silver:

JUNE

1583 NOTICE(S) FILED TODAY FOR

7,915,000 OZ/

Total number of notices filed so far this month: 3471 for 17,355,000 oz

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Bitcoin: BID $6305/OFFER $6390: UP  $460(morning)

Bitcoin: BID/ $6584/offer $6669: DOWN $749  (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: 1255.42

NY price  at the same time: 1251.90

PREMIUM TO NY SPOT: $3.52

Second gold fix early this morning: 1252.28

USA gold at the exact same time:1248.25

PREMIUM TO NY SPOT:  $4.03

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 SMALL 454 CONTRACTS FROM 209,605 DOWN TO 209,151 DESPITE FRIDAY’S 14 CENT GAIN IN SILVER PRICING. WE ARE STARTING  TO  WITNESS A CONSIDERABLE DROP IN COMEX OPEN INTEREST AT THE COMEX IN SILVER BUT AT THE SAME TIME WE SEE LARGE AMOUNTS OF PHYSICAL METAL STAND FOR DELIVERY.

WE HAVE NOW ENTERED THE  ACTIVE DELIVERY MONTH OF JULY WHERE WE CONTINUE TO WITNESS LONGS PACK THEIR BAGS AND MIGRATE OVER TO LONDON IN GREATER NUMBERS.  WE WERE  NOTIFIED THAT WE HAD A STRONG SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP: 0 EFP’S FOR JULY, 2256 EFP’S FOR SEPT. , 0 EFP’S FOR DECEMBER AND ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE: OF 2256 CONTRACTS. WITH THE TRANSFER OF 2256 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 2256 EFP CONTRACTS TRANSLATES INTO 11.28 MILLION OZ  ACCOMPANYING:

1.THE 14 CENT GAIN IN  SILVER PRICE  AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR THE JUNE COMEX DELIVERY MONTH. (5.420 MILLION OZ)   AND NOW JULY/ 2018 WITH 26.230 MILLION OZ INITIALLY STANDING FOR DELIVERY.

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

2256 CONTRACTS (FOR 1 TRADING DAY TOTAL 2256 CONTRACTS) OR 11.28 MILLION OZ: (AVERAGE PER DAY: 2256 CONTRACTS OR 11.28 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF JULY:  11.28 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 1.61% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)*  LAST MONTH’S 345.43 MILLION OZ IS THE SECOND HIGHEST RECORDED ISSUANCE OF EFP’S AND IT FOLLOWED THE RECORD SET IN APRIL 2018 OF 385.75 MILLION OZ.

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:            1,671.01    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

ACCUMULATION FOR JUNE 2018:                                           345.43         MILLION OZ

RESULT: WE HAD A SMALL SIZED DECREASE IN COMEX OI SILVER COMEX OF 454 DESPITE THE 14 CENT GAIN IN SILVER PRICE.  WE HAVE NOW ENTERED THE NEW ACTIVE MONTH OF JULY AND  THE CME NOTIFIED US THAT IN FACT WE HAD A STRONG SIZED EFP ISSUANCE OF 2256 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 EFP CONTRACTS FOR JULY,  2256 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: 2256). TODAY WE GAINED A CONSIDERABLE: 2136 TOTAL OI CONTRACTS  ON THE TWO EXCHANGES: i.e.2256 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH AN DECREASE OF 120  OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 14 CENT GAIN IN PRICE OF SILVER  AND A CLOSING PRICE OF $16.14 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A GIGANTIC AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY IN THIS  ACTIVE JULY DELIVERY MONTH OF ALMOST 26 MILLION OZ. 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. 1.048 MILLION OZ TO BE EXACT or 150% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JULY MONTH/ THEY FILED AT THE COMEX: 1583 NOTICE(S) FOR 7,915,000 OZ OF SILVER

IN SILVER, WE  SET THE NEW RECORD OF OPEN INTEREST AT 243,411 CONTRACTS ON APRIL 9.2018.  AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $16.51

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  MAY: 36.285 MILLION OZ / JUNE/2018  (5.420 MILLION OZ) AND NOW JULY 2018 AMOUNT INITIALLY STANDING: 26.230 MILLION OZ   )
  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/  AND THE SECOND HIGHEST RECORDED EFP ISSUANCE JUNE 2018 345.43 MILLION OZ

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 7258 CONTRACTS UP TO 477,420 WITH THE RISE IN THE GOLD PRICE/FRIDAY’S TRADING (A  GAIN IN PRICE OF $3.70).  WE ARE NOW IN THE  ACTIVE DELIVERY MONTH OF JULY. 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 TINY SIZED 1998 CONTRACTS :  AUGUST SAW THE ISSUANCE OF:  1998 CONTRACTS, DECEMBER HAD AN ISSUANCE OF 0 CONTACTS  AND THEN ALL OTHER MONTHS ZERO.  The new OI for the gold complex rests at 477,440. 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:  7258  OI CONTRACTS INCREASED AT THE COMEX AND A SMALL SIZED 1998 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN: 9,056 CONTRACTS OR 905,600 OZ = 28.167 TONNES. AND STRANGELY ALL OF THIS DEMAND OCCURRED WITH A SMALL RISE IN THE PRICE OF GOLD TO THE TUNE OF $3.70.???

FRIDAY, WE HAD 1103  EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JUNE : 1998 CONTRACTS OR 199,800  OZ OR 6.214 TONNES (1 TRADING DAY AND THUS AVERAGING: 1998 EFP CONTRACTS PER TRADING DAY OR 199,800 OZ/ TRADING DAY),,

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 1 TRADING DAY IN  TONNES: 6.214 TONNES

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

THUS EFP TRANSFERS REPRESENTS 6.214/2550 x 100% TONNES =  0.2431% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JULY ALONE.***

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  4,109.12*  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                      650.71 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: A STRONG SIZED INCREASE IN OI AT THE COMEX OF 7258 WITH THE $3.70 RISE IN PRICINGGOLD TOOK ON FRIDAY // .  WE ALSO HAD A SMALL SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 1998 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 1998 EFP CONTRACTS ISSUED, WE HAD A STRONG NET GAIN OF 9,056 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES:

1998 CONTRACTS MOVE TO LONDON AND 7258 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 28.167 TONNES). ..AND BELIEVE IT OR NOT BUT ALL OF THIS DEMAND OCCURRED  WITH A SMALL RISE OF $3.70 IN TRADING!!!. AT THE COMEX. THE COMEX IS AN OUTRIGHT FRAUD

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 $12.15  TODAY: / A BIG CHANGE IN GOLD INVENTORY AT THE GLD/THE CROOKS RAIDED THE COOKIE JAR AGAIN TO THE TUNE OF A 1.47 TONNES OF GOLD WITHDRAWAL

/GLD INVENTORY 819.04 TONNES

Inventory rests tonight: 819.04 tonnes.

TO ALL INVESTORS THINKING OF BUYING GOLD THROUGH THE GLD ROUTE: YOU ARE MAKING A TERRIBLE MISTAKE AS THE CROOKS ARE USING WHATEVER GOLD COMES IN TO ATTACK BY SELLING THAT GOLD.  IT SURE SEEMS TO ME THAT THE GOLD OBLIGATIONS AT THE GLD EXCEED THEIR INVENTORY

SLV/

WITH SILVER  DOWN 31 CENTS TODAY /A MONSTER CHANGE IN SILVER INVENTORY AT THE SLV/A HUGE DEPOSIT OF 2.070 MILLION OZ INTO THE SLV VAULTS  (DESPITE THE DRUBBING?)

 

 

/INVENTORY RESTS AT 322.465 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 TINY SIZED 454 CONTRACTS from 209,605 DOWN TO  209,485 (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:

0 EFP’S FOR JULY, 2256 EFP CONTRACTS FOR SEPT., 0 EFP CONTRACTS FOR DECEMBER  AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 2256 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 454 CONTRACTS TO THE 2256 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A NET GAIN OF 1802 OPEN INTEREST CONTRACTS.  THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES:  9.01 MILLION OZ!!! AND YET WE HAVE A STRONG DEMAND FOR PHYSICAL AS WE WITNESS AN INITIAL STANDING OF  OVER 26 MILLION OZ AND YET ALL OF THIS DEMAND OCCURRED WITH A SMALL 14 CENT GAIN 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 CONTINUAL AND DRAMATIC AMOUNTS OF EFP ISSUANCE IS HEADING OVER TO LONDON

RESULT: A SMALL SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE  THE 14 CENT GAIN THAT SILVER TOOK IN PRICING ON YESTERDAY. BUT WE ALSO HAD ANOTHER STRONG SIZED 2256 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 AS WELL AS THE STRONG AMOUNT OF PHYSICAL STANDING FOR METAL AT THE COMEX.

(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 DOWN 71.86 POINTS OR 2.52%   /Hang Sang CLOSED HOLIDAY   / The Nikkei closed DOWN 492.58 POINTS OR 2.21% /Australia’s all ordinaires CLOSED DOWN 0.26%  /Chinese yuan (ONSHORE) closed DOWN at 6.6625 AS POBC EXERCISES ANOTHER HUGE DEVALUATION  /Oil UP to 74,13 dollars per barrel for WTI and 78.99 for Brent. Stocks in Europe OPENED  IN THE RED //.  ONSHORE YUAN CLOSED DOWN AT 6.6625 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.6782 :HUGE DEVALUATION/PAST SEVERAL DAYS//ONSHORE YUAN TRADING STRONGER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING  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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