HUGE RAID ON GOLD AND SILVER TODAY: GOLD DOWN $10.75 TO $1244.20 AND SILVER IS DOWN 22 CENTS TO $15.84

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by Harvey Organ, Harvey Organ Blog:


THE SLV CONTINUES TO ADD “SILVER” TO ITS INVENTORY/GLD IS CONTINUALLY ROBBED OF WHATEVER GOLD THEY INTAKE/COPPER IS CLOBBERED BY OVER 4%/CRUDE OIL DROPS OVER 3 DOLLARS AND THUS WE HAD A HUGE COMMODITY CRASH/TRADE WARS ESCALATE/TRUMP SCOLDS COUNTRIES BELONGING TO NATO FOR NOT PROVIDING THEIR SHARE OF FUNDING/TURKISH LIRA PLUMMETS AS ERDOGAN STATES THAT HE MIGHT LOWER INTEREST RATES/LISA PAGE DOES NOT TESTIFY DEFYING CONGRESS

GOLD: $1244.20   DOWN  $10.75 (COMEX TO COMEX CLOSINGS)

Silver: $15.84        DOWN 22 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1242.20

silver: $15.82

For comex gold:

JULY/

NUMBER OF NOTICES FILED TODAY FOR JULY CONTRACT:12 NOTICE(S) FOR 1200 OZ

TOTAL NOTICES SO FAR 85 FOR 8500 OZ (0.2643 tonnes)

For silver:

JUNE

37 NOTICE(S) FILED TODAY FOR

185,000 OZ/

Total number of notices filed so far this month: 5113 for 25,565,000 oz

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Bitcoin: BID $6302/OFFER $6388: DOWN  $22(morning)

Bitcoin: BID/ $6315/offer $6400: DOWN $8  (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: 1261.82

NY price  at the same time: 1251.80

PREMIUM TO NY SPOT: $10.02

Second gold fix early this morning: 1255.86

USA gold at the exact same time:1253.60

PREMIUM TO NY SPOT:  $2.26

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 547 CONTRACTS FROM 207,154 UP TO 207,701 DESPITE YESTERDAY’S  3 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 28 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: 1726 EFP’S FOR SEPT. , 0 EFP’S FOR DECEMBER AND ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE: OF 1726 CONTRACTS. WITH THE TRANSFER OF 1726 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 1726 EFP CONTRACTS TRANSLATES INTO 8.63 MILLION OZ  ACCOMPANYING:

1.THE 3 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 28.985 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:

12,664 CONTRACTS (FOR 7 TRADING DAYS TOTAL 12,664 CONTRACTS) OR 63.32 MILLION OZ: (AVERAGE PER DAY: 1809 CONTRACTS OR 9.045 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF JULY:  63.32 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 9.04% 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:            1,723.06    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 547 DESPITE THE SMALL 3 CENT FALL IN SILVER PRICE.  THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 1726 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:  1726 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: 1726). TODAY WE GAINED A CONSIDERABLE: 2273 TOTAL OI CONTRACTS  ON THE TWO EXCHANGES:

i.e 1726 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH AN INCREASE OF 547  OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 3 CENT FALL IN PRICE OF SILVER  AND A CLOSING PRICE OF $16.07 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 28 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: 37 NOTICE(S) FOR 185,000 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: 28.985 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 FELL BY A CONSIDERABLE 3773 CONTRACTS DOWN TO 503,593 WITH THE FALL IN THE GOLD PRICE/YESTERDAY’S TRADING (A LOSS IN PRICE OF $3.85).  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 4830 CONTRACTS :  AUGUST SAW THE ISSUANCE OF:  4830 CONTRACTS, DECEMBER HAD AN ISSUANCE OF 0 CONTACTS  AND THEN ALL OTHER MONTHS ZERO.  The new COMEX OI for the gold complex rests at 503,593. 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 1057 CONTRACTS:  3773  OI CONTRACTS DECREASED AT THE COMEX AND 4830 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN:  1057 CONTRACTS OR 105,700 OZ = 3.2800 TONNES. AND STRANGELY ALL OF THIS DEMAND OCCURRED WITH A FALL IN THE PRICE OF GOLD YESTERDAY TO THE TUNE OF $3.85???

YESTERDAY, WE HAD 6281  EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JUNE : 62213 CONTRACTS OR 62,213  OZ OR 193.50 TONNES (7 TRADING DAYS AND THUS AVERAGING: 8887 EFP CONTRACTS PER TRADING DAY OR 888,700 OZ/ TRADING DAY),,

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 7 TRADING DAYS IN  TONNES: 193.50 TONNES

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

THUS EFP TRANSFERS REPRESENTS 193.50/2550 x 100% TONNES =  7.58% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JULY ALONE.***

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  4,296.41*  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 DECREASE IN OI AT THE COMEX OF 3773 WITH  THE  $3,85 FALL IN PRICING GOLD UNDER TOOK YESTERDAY // .  WE ALSO HAD AN GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 4830 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 4830 EFP CONTRACTS ISSUED, WE HAD A SMALL NET GAIN OF 2508 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES:

4830 CONTRACTS MOVE TO LONDON AND 3773 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 3.28 TONNES). ..AND BELIEVE IT OR NOT BUT ALL OF THIS DEMAND OCCURRED WITH A FALL OF $3,85 IN TRADING. AT THE COMEX!!!. THE COMEX IS AN OUTRIGHT FRAUD

we had: 12 notice(s) filed upon for 1200 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 $10.75  TODAY: /

A HUGE CHANGE IN GOLD INVENTORY AT THE GLD TODAY: ANOTHER WITHDRAWAL OF 1.75 TONNES

 

 

/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 DOWN 22 CENTS:

ANOTHER CHANGES IN SILVER INVENTORY AT THE SLV: ANOTHER GOOD DEPOSIT OF 565,000

 

 

 

/INVENTORY RESTS AT 325.717 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 547 CONTRACTS from 207,154 UP TO  207,001 (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:

1726 EFP CONTRACTS FOR SEPT., 0 EFP CONTRACTS FOR DECEMBER  AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 1726 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 547 CONTRACTS TO THE 1726 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A NET GAIN OF 2273 OPEN INTEREST CONTRACTS.  THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES:  11.365 MILLION OZ!!! AND YET WE ALSO HAVE A STRONG DEMAND FOR PHYSICAL AS WE WITNESS AN INITIAL STANDING OF  OVER 28 MILLION OZ AND YET ALL OF THIS DEMAND OCCURRED DESPITE A SMALL 3 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 CONSIDERABLE SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE  3 CENTLOSS THAT SILVER UNDERTOOK IN PRICING ON TUESDAY. BUT WE ALSO HAD ANOTHER FAIR SIZED 1726 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

)WEDNESDAY MORNING/TUESDAY NIGHT: Shanghai closed DOWN 49.85 POINTS OR 1.76%   /Hang Sang CLOSED DOWN 370,56 POINTS OR 1.29%/   / The Nikkei closed DOWN 264.68 POINTS OR 1.19% /Australia’s all ordinaires CLOSED DOWN 0.67%  /Chinese yuan (ONSHORE) closed DOWN at 6.6748 AS POBC RESUMES ITS HUGE DEVALUATION  /Oil DOWN to 73,68 dollars per barrel for WTI and 77.19 for Brent. Stocks in Europe OPENED RED //.  ONSHORE YUAN CLOSED DOWN AT 6.6748 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.6957:HUGE DEVALUATION/PAST SEVERAL DAYS NOW CONTINUES WITH A VEGEANCE: TARIFF WARS CONTINUE UNABATED AND AT FULL TILT//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 COMMENCED

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