RETAIL SALES PLUMMET BY 1.2% IN DECEMBER AS THE ATLANTA FED LOWERS 4TH QUARTER GDP GROWTH TO 1.6%

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by Harvey Organ, Harvey Organ Blog:

GOLD DOWN $1.10 TO $1310.90/SILVER FALLS 11 CENTS TO $15.57//CHINA AND THE USA REVEAL LACK OF PROGRESS ON USA-CHINA TRADE DEAL//THERESA MAY LOSES ANOTHER BREXIT VOTE AND THIS HURTS HER CREDIBILITY/TRUMP TO SIGN BILL TO KEEP GOVERNMENT OPEN BUT ALSO SIGN AN EMERGENCY MEASURE TO FUND THE WALL

GOLD: $1310.90 DOWN $1.10 (COMEX TO COMEX CLOSING)

Silver:   $15.57 DOWN 11 CENTS (COMEX TO COMEX CLOSING)

Closing access prices:

Gold :  1312.50

 

silver: $15.62

 

For comex gold and silver:

FEBRUARY

 

NUMBER OF NOTICES FILED TODAY FOR  FEB CONTRACT: 8 NOTICE(S) FOR 800 OZ (0.0249 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR:  9233 NOTICES FOR 923300 OZ  (28.718 TONNES)

 

SILVER

 

FOR FEBRUARY

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28 NOTICE(S) FILED TODAY FOR 140,000  OZ/

 

total number of notices filed so far this month: 565 for 2,825,000

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Bitcoin: OPENING MORNING TRADE $3591:DOWN $19

 

Bitcoin: FINAL EVENING TRADE: $3611 down $12.

 

end

 

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JPMorgan or Goldman Sachs are taking a huge issuance (stopping) of gold at the comex.

today 7

CONTRACT: FEBRUARY 2019 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,310.800000000 USD
INTENT DATE: 02/13/2019 DELIVERY DATE: 02/15/2019
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
661 C JP MORGAN 3
661 H JP MORGAN 4
737 C ADVANTAGE 8 1
____________________________________________________________________________________________

TOTAL: 8 8
MONTH TO DATE: 9,233

 

Let us have a look at the data for today

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In silver, the total OPEN INTEREST ROSE BY A STRONG SIZED 3685 CONTRACTS FROM 217,925 UP TO 221,610 DESPITE YESTERDAY’S 4 CENT LOSS  IN SILVER PRICING AT THE COMEX. TODAY WE ARRIVED CLOSER TO  AUGUST’S 2018  RECORD SETTING OPEN INTEREST OF 244,196 CONTRACTS.

WE HAVE ALSO WITNESSED A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY AS WE NOW HAVE JUST LESS THAN 22 MILLION OZ STANDING IN DECEMBER. AS WELL WE ARE WITNESSING 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:

2782 EFP’S FOR MARCH,  0 FOR APRIL, FOR MAY, 600 FOR DECEMBER AND ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE: OF 3382 CONTRACTS. WITH THE TRANSFER OF 3382 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 3392 EFP CONTRACTS TRANSLATES INTO 17.195 MILLION OZ  ACCOMPANYING:

1.THE 4 CENT LOSS IN SILVER PRICE AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR DELIVERY IN THE LAST SIX MONTHS:

JUNE/2018. (5.420 MILLION OZ);

FOR JULY: 30.370 MILLION OZ

FOR AUG., 6.065 MILLION OZ

FOR SEPT. 39.505 MILLION  OZ S

FOR OCT.2.525 MILLION OZ.

FOR NOV:  A HUGE 7.440 MILLION OZ STANDING  AND

21.925 MILLION OZ FINALLY STAND FOR DECEMBER.

5.845 MILLION OZ STAND IN JANUARY.

AND NOW 2.830 MILLION OZ STANDING FOR FEBRUARY.

 

ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF FEBRUARY: 13,523 CONTRACTS (FOR 10 TRADING DAYS TOTAL 13,443 CONTRACTS) OR 67.215 MILLION OZ: (AVERAGE PER DAY: 1352 CONTRACTS OR 6.760 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF FEB:  67.215 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 9.65% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)*  JUNE’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 2019 TO DATE SILVER EFP’S:           276.14    MILLION OZ. (CORRECTED)

JANUARY 2019 EFP TOTALS:                                                      217.455. MILLION OZ.

 

RESULT: WE HAD A GIGANTIC SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 7067 DESPITE THE 4 CENT LOSS IN SILVER PRICING AT THE COMEX //YESTERDAY..THE CME NOTIFIED US THAT WE HAD  STRONG SIZED EFP ISSUANCE OF 3382 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) .

TODAY WE GAINED A STRONG SIZED: 7067 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:

i.e 3382 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH INCREASE OF 3685 OI COMEX CONTRACTS. AND ALL OF THIS  DEMAND HAPPENED WITH A 4 CENT GAIN INPRICE OF SILVER  AND A CLOSING PRICE OF $15.68 WITH RESPECT TO YESTERDAY’S TRADING. YET WE HAD A GIGANTIC AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY 

 

In ounces AT THE COMEX, the OI is still represented by JUST OVER 1 BILLION oz i.e. 1.095 BILLION OZ TO BE EXACT or 157% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT FEBRUARY MONTH/ THEY FILED AT THE COMEX: 28 NOTICE(S) FOR 140,000 OZ OF SILVER

IN SILVER,PRIOR TO TODAY, WE  SET THE NEW COMEX 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.  

AND NOW WE RECORD FOR POSTERITY ANOTHER ALL TIME RECORD OPEN INTEREST AT THE COMEX OF 244,196 CONTRACTS ON AUGUST 22/2018 AND AGAIN WHEN THIS RECORD WAS SET, THE PRICE OF SILVER WAS $14.78 AND LOWER IN PRICE THAN PREVIOUS RECORDS.

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) , JULY 2018 FINAL AMOUNT STANDING: 30.370 MILLION OZ   )  FOR AUGUST 6.065 MILLION OZ. , SEPT:  A HUGE 39.505 MILLION OZ./ OCTOBER: 2,520,000 oz  NOV AT 7.440 MILLION OZ./ DEC. AT 21.925 MILLION OZ   JANUARY AT  5.825 MILLION OZ.AND NOW FEB 2019:  2.830 MILLION OZ/
  2. HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018) AND NOW AUGUST 22/2018:  244,196 CONTRACTS,  WITH A SILVER PRICE OF $14.78.
  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 SIZED 3814 CONTRACTS UP TO 479,897 WITH THE RISE IN THE COMEX GOLD PRICE/(A GAIN IN PRICE OF $1.40//YESTERDAY’S TRADING).

 

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A VERY STRONG  SIZED 7361 CONTRACTS:

 

MARCH HAD AN ISSUANCE OF 0 CONTACTS  APRIL 7361 CONTRACTS, DECEMBER: 0 CONTRACTS AND ALL OTHER MONTHS ZERO.  The NEW COMEX OI for the gold complex rests at 479,897. 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 A VERY STRONG SIZED GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 11,175 CONTRACTS: 3814 OI CONTRACTS INCREASED AT THE COMEX AND 7361 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN: 11,175 CONTRACTS OR 1,117,500 OZ = 35.34 TONNES. AND ALL OF THIS HUGE DEMAND OCCURRED WITH A GAIN IN THE PRICE OF GOLD/ YESTERDAY TO THE TUNE OF $1.40.

 

YESTERDAY, WE HAD 1819 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF FEBRUARY : 52,092 CONTRACTS OR 5,209,200 OZ  OR 162.02 TONNES (10 TRADING DAYS AND THUS AVERAGING: 5,209 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE GOOD SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 10 TRADING DAYS IN  TONNES: 162.02 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2018, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES

THUS EFP TRANSFERS REPRESENTS 162.02/2550 x 100% TONNES = 6.35% OF GLOBAL ANNUAL PRODUCTION SO FAR IN DECEMBER ALONE.***

ACCUMULATION OF GOLD EFP’S YEAR 2019 TO DATE:     682.17  TONNES  (CORRECTED)

JANUARY 2019 TOTAL EFP ISSUANCE;   531.20 TONNES

 

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 3814 WITH THE GAIN IN PRICING ($1.40) THAT GOLD UNDERTOOK YESTERDAY) //.WE ALSO HAD A STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 7361 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 7361 EFP CONTRACTS ISSUED, WE HAD A VERY STRONG GAIN OF 13,729 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES:

7361 CONTRACTS MOVE TO LONDON AND 3814 CONTRACTS INCREASED AT THE COMEX. (IN TONNES, THE GAIN IN TOTAL OI EQUATES TO 34.75 TONNES). ..AND ALL OF THIS  DEMAND OCCURRED WITH THE GAIN OF $1.40 IN YESTERDAY’S TRADING AT THE COMEX

 

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 down $1.10 TODAY

 

THE CROOKS CONTINUE WITH THEIR ATTACK ON THE GLD

 

THEY WITHDREW ANOTHER:  2.04 TONNES OF GOLD AND THAT WILL BE USED TO RAID GOLD/

 

/GLD INVENTORY   796.85 TONNES

Inventory rests tonight: 798.85 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 11 CENTS  IN PRICE  TODAY:

 

STRANGE!!  A GOOD DEPOSIT OF 423,000 OZ

 

/INVENTORY RESTS AT 307.358 MILLION OZ.

 

end

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

1. Today, we had the open interest in SILVER ROSE BY A STRONG SIZED 3685 CONTRACTS from 217,925 UP TO 221,610  AND MOVING CLOSER TO THE NEW COMEX RECORD SET LAST IN AUG.2018AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  1 1/3 YEARS AGO.  THE PRICE OF SILVER ON THAT DAY: $17.89.  AS YOU CAN SEE, WE HAVE RECORD HIGH OPEN INTERESTS IN SILVER  ACCOMPANIED BY A CONTINUAL LOWER PRICE WHEN THAT RECORD WAS SET…..

 

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:

 

2782 CONTRACTS FOR MARCH. 0 CONTRACTS FOR MAY., 600 FOR DECEMBER AND  AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 3382 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 3685 CONTRACTS TO THE 3382 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A HUMONGOUS GAIN  OF 8667  OPEN INTEREST CONTRACTS.  THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES: 35.34 MILLION OZ!!! AND YET WE ALSO HAVE A STRONG DEMAND FOR PHYSICALAS WE WITNESSED A FINAL STANDING OF GREATER THAN 30 MILLION OZ FOR JULY, A STRONG 6.065 MILLION OZ FOR AUGUST..  A HUGE 39.505  MILLION OZ  STANDING FOR SILVER IN SEPTEMBER… OVER 2 million  OZ STANDING FOR THE NON ACTIVE MONTH OF OCTOBER.,  7.440 MILLION OZ FINALLY STANDING IN NOVEMBER.  21.925 MILLION OZ  STANDING IN DECEMBER , 5.845 MILLION OZ STANDING IN JANUARY..AND NOW 2.830 MILLION OZ STANDING IN FEBRUARY.

 

RESULT: A VERY STRONG SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE 4 CENT LOSS IN PRICING THAT SILVER UNDERTOOK IN PRICING// YESTERDAY.BUT WE ALSO HAD A VERY STRONG SIZED 3382 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG  SIZED AMOUNT OF SILVER OUNCES STANDING FOR SEPTEMBER, 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)THURSDAY MORNING/ WEDNESDAY NIGHT:

SHANGHAI CLOSED DOWN 1.37 POINTS OR 0.05% //Hang Sang CLOSED DOWN 65.54 POINTS OR 0.23%  /The Nikkei closed DOWN 4.77 POINTS OR 0.02%/ Australia’s all ordinaires CLOSED DOWN 0.01%

/Chinese yuan (ONSHORE) closed UP  at 6.7745 AS TRUCE DECLARED FOR 3 MONTHS /Oil UP to 54.39 dollars per barrel for WTI and 64.35 for Brent. Stocks in Europe OPENED GREEN //.

ONSHORE YUAN CLOSED UP // LAST AT 6.7745 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.7840: / TRADE TALKS NOW ON/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED   /ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING 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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