MINT SLOWS DOWN GOLD AND SILVER COIN SALES

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by Harvey Organ, Harvey Organ Blog:

GOLD CONTINUES TO GAIN: UP $13.25 TO $1948.85//SILVER DOWN 14 CENTS AS WE FINISH WITH COMEX EXPIRY//MINT SLOWS DOWN GOLD AND SILVER COIN SALES//CHINA VS USA//EUROPE VS USA//CORONAVIRUS UPDATE//SWAMP STORIES

GOLD: $:  1948.85  UP $13.25  The quote is London spot price (cash market)

This is an all time high

Silver:$24.17// DOWN 14 CENTS  London spot price ( cash market)

Today is the final day for options expiry for comex gold/silver.  The London boys were in big time buying gold and silver at discount prices.

your data:

Closing access prices:  London spot

i)Gold : $1958.20  LONDON SPOT  4:30 pm

 

ii)SILVER:  $24.35//LONDON SPOT  4:30 pm

CLOSING FUTURES PRICES:  KEY MONTHS

OCT GOLD:  $1951.70  CLOSE 1.30 PM//   SPREAD SPOT/FUTURE OCT /: $2.85  ($0 ABOVE NORMAL CONTANGO)

DEC. GOLD  $1963.10   CLOSE 1.30 PM      SPREAD SPOT/FUTURE DEC   $14.25   ($2.25 ABOVE NORMAL CONTANGO)  OR .03% ABOVE CONTANGO OR EXCESS CONTANGO)

 

CLOSING SILVER FUTURE MONTH

SILVER SEPT COMEX CLOSE;   $24.17…1:30 PM.//SPREAD SPOT/FUTURE SEPT//  :  0 CENTS  PER OZ

COMEX DATA

 

JPMorgan has been receiving gold with reckless abandon and sometimes supplying (stopping)

receiving today: 116/342

issued:  3

EXCHANGE: COMEX
CONTRACT: JULY 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,931.000000000 USD
INTENT DATE: 07/27/2020 DELIVERY DATE: 07/29/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
159 C ED&F MAN CAP 1
363 H WELLS FARGO SEC 150
657 C MORGAN STANLEY 53
657 H MORGAN STANLEY 225
661 C JP MORGAN 3 116
690 C ABN AMRO 74
732 C RBC CAP MARKETS 21
878 C PHILLIP CAPITAL 1
905 C ADM 40
____________________________________________________________________________________________

TOTAL: 342 342
MONTH TO DATE: 8,781

NUMBER OF NOTICES FILED TODAY FOR  JULY CONTRACT: 342 NOTICE(S) FOR 34,200 OZ  (1.063 tonnes)

 

TOTAL NUMBER OF NOTICES FILED SO FAR:  8781 NOTICES FOR 878100 OZ  (27.312 TONNES)

 

SILVER

 

FOR JULY

 

469 NOTICE(S) FILED TODAY FOR 2,345,000  OZ/

total number of notices filed so far this month: 16,239 for 81.195 MILLION oz

 

BITCOIN MORNING QUOTE  $10,985  DOWN 66

 

BITCOIN AFTERNOON QUOTE.: $10,991 DOWN 39

 

GLD AND SLV INVENTORIES:

WITH GOLD UP $13.25 AND NO PHYSICAL TO BE FOUND ANYWHERE:

WITH ALL REFINERS CLOSED//MEXICO ORDERING ALL MINES SHUT:   WHERE ARE THEY GETTING THE “PHYSICAL?

A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/// A DEPOSIT OF 5.84 TONNES OF GOLD ADDED TO THE GLD//

 

GLD: 1,234.65 TONNES OF GOLD//

 

WITH SILVER DOWN 14 CENTS TODAY: AND WITH NO SILVER AROUND:

 

A HUGE CHANGE IN SILVER INVENTORY AT THE  SLV:

A MASSIVE DEPOSIT 7.52 MILLION OZ//

 

RESTING SLV INVENTORY TONIGHT:

 

SLV: 566.299  MILLION OZ./

 

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Let us have a look at the data for today

 

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IN SILVER THE COMEX OI ROSE BY A SMALL SIZED 459 CONTRACTS FROM 185,705 UP  TO 186,588, AND CLOSER TO OUR NEW RECORD OF 244,710, (FEB 25/2020. THE SMALL SIZED GAIN IN  OI OCCURRED DESPITE OUR HUGE $2.67 GAIN IN SILVER PRICING AT THE COMEX. IT SEEMS THAT THE GAIN IN COMEX OI IS PRIMARILY DUE TO HUGE  BANKER SHORT COVERING PLUS A STRONG EXCHANGE FOR PHYSICAL ISSUANCE, ZERO LONG LIQUIDATION, ACCOMPANYING  A HUMONGOUS INCREASE  IN SILVER STANDING  AT THE COMEX FOR JULY.  WE HAD A NET GAIN IN OUR TWO EXCHANGES OF 3351 CONTRACTS  (SEE CALCULATIONS BELOW).

 

WE HAVE ALSO WITNESSED A HUGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY 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 ROUTE:   JULY: 0  AND SEP 2692′ DEC:  200 FOR ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE  2892 CONTRACTS. WITH THE TRANSFER OF 2892 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 2892 EFP CONTRACTS TRANSLATES INTO 14.46 MILLION OZ  ACCOMPANYING:

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