GOLD UP $2.30 CLOSING AT $1246.30/SILVER UP 12 CENTS TO $15.96

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by Harvey Organ, Harvey Organ Blog:

TALKS BETWEEN CHINA AND USA COLLAPSE IN TRADE TALKS/TRUMP RILES UP NATO:ASKS NATO COUNTRIES TO PAY UP THEIR FAIR SHARE/TURKEY HEADING TOWARD HYPERINFLATION/IN SHANGHAI: HUGE AMOUNT OF OIL TURNOVER CONTRACTS MEANS IN SEPT A HUGE DEMAND FOR GOLD WILL BE FORTHCOMING

GOLD: $1246.50   UP  $2.30 (COMEX TO COMEX CLOSINGS)

Silver: $15.96        UP 12 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1247.40

silver: $15.96

 

 

 

For comex gold:

JULY/

NUMBER OF NOTICES FILED TODAY FOR JULY CONTRACT:8 NOTICE(S) FOR 800

TOTAL NOTICES SO FAR 93 FOR 9300 OZ (0.2892 tonnes)

For silver:

JUNE

35 NOTICE(S) FILED TODAY FOR

175,000 OZ/

Total number of notices filed so far this month: 5148 for 25,740,000 oz

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Bitcoin: BID $6131/OFFER $6216: DOWN  $193(morning)

Bitcoin: BID/ $6130/offer $6215: DOWN $195  (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: 1247.92

NY price  at the same time: 1243.65

PREMIUM TO NY SPOT: $4.27

Second gold fix early this morning: 1250.18

USA gold at the exact same time:1243.15

PREMIUM TO NY SPOT:  $7.03

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 ROSE BY A SMALL SIZED 101 CONTRACTS FROM 207,701 UP TO 208,111 DESPITE YESTERDAY’S  22 CENT FALL IN SILVER PRICING.  WE HAVE HAD LATELY,SUCH CONSIDERABLE COMEX LIQUIDATION THESE PAST SEVERAL DAYS BUT NOT TODAY. HOWEVER, THIS LIQUIDATION HAS NOT MANIFESTED ITSELF INTO LOWER DEMAND FOR PHYSICAL SILVER..JUST THE OPPOSITE.  WE ARE STILL WITNESSING A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY(OVER 29 MILLION OZ) AS WELL AS CONSIDERABLE LONGS PACKING THEIR BAGS AND MIGRATING OVER TO LONDON IN GREATER NUMBERS IN THE FORM OF EFP’S.  WE WERE  NOTIFIED  THAT WE HAD A STRONG SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP: 1917 EFP’S FOR SEPT. , 0 EFP’S FOR DECEMBER AND ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE: OF 1917 CONTRACTS. WITH THE TRANSFER OF 1917 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 1917 EFP CONTRACTS TRANSLATES INTO 9.585 MILLION OZ  ACCOMPANYING:

1.THE 22 CENT FALL  IN  SILVER PRICE  AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR THE JUNE/2018 COMEX DELIVERY MONTH. (5.420 MILLION OZ)   AND NOW JULY/ 2018 WITH 29.160 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:

14,581 CONTRACTS (FOR 8 TRADING DAYS TOTAL 14,581 CONTRACTS) OR 72.91 MILLION OZ: (AVERAGE PER DAY: 1822 CONTRACTS OR 9.113 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF JULY:  72.91 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 10.41% 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:            1,732.6    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 INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 101 DESPITE THE LARGE 22 CENT FALL IN SILVER PRICE.  THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 1917 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:  1917 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: 1917). TODAY WE GAINED A CONSIDERABLE: 2018 TOTAL OI CONTRACTS  ON THE TWO EXCHANGES:

i.e 1917 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH AN INCREASE OF 101  OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 22 CENT FALL IN PRICE OF SILVER  AND A CLOSING PRICE OF $15.84 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 MORE THAN 29 MILLION OZ. IT SURE LOOKS LIKE A FAILED BANKER SHORT COVERING EXERCISE AS BANKERS ARE SCRAMBLING TO COVER THEIR HUGE SHORTFALL.

In ounces AT THE COMEX, the OI is still represented by OVER 1 BILLION oz i.e. 1.022 MILLION OZ TO BE EXACT or 147% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JULY MONTH/ THEY FILED AT THE COMEX: 35 NOTICE(S) FOR 175,000 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: 29.160 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 CONSIDERABLE 3754 CONTRACTS UP TO 507,347 DESPITE THE FALL IN THE GOLD PRICE/YESTERDAY’S TRADING (A LOSS IN PRICE OF $10.75).  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 FAIR SIZED 3851 CONTRACTS :  AUGUST SAW THE ISSUANCE OF:  3851 CONTRACTS, DECEMBER HAD AN ISSUANCE OF 0 CONTACTS  AND THEN ALL OTHER MONTHS ZERO.  The new COMEX OI for the gold complex rests at 507,802. 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 SMALL OI GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 7605 CONTRACTS:  3754  OI CONTRACTS INCREASED AT THE COMEX AND 3851 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN:  7605 CONTRACTS OR 760,500 OZ = 23.65 TONNES. AND STRANGELY ALL OF THIS DEMAND OCCURRED WITH A FALL IN THE PRICE OF GOLD YESTERDAY TO THE TUNE OF $10.75???

YESTERDAY, WE HAD 4830  EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JUNE : 66064 CONTRACTS OR 6,606,400  OZ OR 205.48 TONNES (8 TRADING DAYS AND THUS AVERAGING: 8258 EFP CONTRACTS PER TRADING DAY OR 825,800 OZ/ TRADING DAY),,

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 8 TRADING DAYS IN  TONNES: 205.48 TONNES

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

THUS EFP TRANSFERS REPRESENTS 205.48/2550 x 100% TONNES =  8.05% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JULY ALONE.***

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  4,308.38*  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 CONSIDERABLE SIZED INCREASE IN OI AT THE COMEX OF 3754 DESPITE  THE  $10,75 FALL IN PRICING GOLD UNDER TOOK YESTERDAY // .  WE ALSO HAD AN FAIR SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 3851 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 3851 EFP CONTRACTS ISSUED, WE HAD A STRONG NET GAIN OF 7605 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES:

3851 CONTRACTS MOVE TO LONDON AND 3754 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 23.65 TONNES). ..AND BELIEVE IT OR NOT BUT ALL OF THIS DEMAND OCCURRED WITH A FALL OF $10.75 IN TRADING. AT THE COMEX!!!. THE COMEX IS AN OUTRIGHT FRAUD

we had: 8 notice(s) filed upon for 800 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 $2.30  TODAY: /

NO CHANGE IN GOLD INVENTORY AT THE GLD

 

 

/GLD INVENTORY 799.02 TONNES

Inventory rests tonight: 799.02 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 UP 12 CENTS:

ANOTHER BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.035 MILLION OZ

 

 

 

 

/INVENTORY RESTS AT 326.752 MILLION OZ/

NOTE THE DIFFERENCE BETWEEN THE GLD AND SLV: THE CROOKS CAN RAID GOLD BECAUSE THEY DO HAVE SOME PHYSICAL.  THEY DO NOT RAID SILVER PROBABLY BECAUSE THERE IS NO REAL SILVER INVENTORIES BEHIND THEM

 

end

First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in SILVER ROSE BY A SMALL SIZED 101 CONTRACTS from 207,701 UP TO  208,111 (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:

1917 EFP CONTRACTS FOR SEPT., 0 EFP CONTRACTS FOR DECEMBER  AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1917 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 101 CONTRACTS TO THE 1917 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A NET GAIN OF 2018 OPEN INTEREST CONTRACTS.  THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES:  10.09 MILLION OZ!!! AND YET WE ALSO HAVE A STRONG DEMAND FOR PHYSICAL AS WE WITNESS AN INITIAL STANDING OF  OVER 29 MILLION OZ AND YET ALL OF THIS DEMAND OCCURRED DESPITE A LARGE 22 CENT LOSS IN PRICE??? .

IT SURE LOOKS LIKE WE ARE GETTING SOME COVERING FROM THE BANKERS SIDE ESPECIALLY WHEN YOU SEE A GOOD GAIN IN PRICE AND THEN A FALL IN COMEX OI AND A SMALLER THAN EXPECTED EFP ISSUANCE.

 

RESULT: A SMALL SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE  22 CENT LOSS THAT SILVER UNDERTOOK IN PRICING ON TUESDAY. BUT WE ALSO HAD ANOTHER FAIR SIZED 1917 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG  SIZED AMOUNT OF SILVER OUNCES STANDING FOR JULY, 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)THURSDAY MORNING/WEDNESDAY NIGHT: Shanghai closed UP 59.89 POINTS OR 2.16%   /Hang Sang CLOSED UP 169,14 POINTS OR 0.60%/   / The Nikkei closed UP 255,75 POINTS OR 1.17% /Australia’s all ordinaires CLOSED UP 0.79%  /Chinese yuan (ONSHORE) closed UP at 6.6696 AS POBC HALTS ITS HUGE DEVALUATION  /Oil DOWN to 70,95 dollars per barrel for WTI and 74.14 for Brent. Stocks in Europe OPENED GREEN //.  ONSHORE YUAN CLOSED UP AT 6.6696 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.6931:HUGE DEVALUATION/PAST SEVERAL DAYS HALTS: TARIFF WARS CONTINUE UNABATED AND AT FULL TILT//ONSHORE YUAN TRADING STRONGER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING  STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /CHINA RETALIATES WITH TARIFFS/ TRUMP RESPONDS TO NEW TARIFFS AND IT NOW A FULL TRADE WAR COMMENCED

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