5.4 MILLION OZ OF SILVER STANDING FOR AUGUST

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by Harvey Organ, Harvey Organ Blog:

GOLD SETS ANOTHER RECORD CLOSE: UP $33.15 TO $2036.30//SILVER ALSO UP SHARPLY TO $26.74 UP $1.03//HUGE INCREASE IN GOLD TONNAGE AT THE COMEX: GOLD STANDING 150 TONNES/ALSO 5.4 MILLION OZ OF SILVER STANDING FOR AUGUST//CHINA VS USA//CORONAVIRUS UPDATES THROUGHOUT THE GLOBE//STORY BEHIND THE EXPLOSION IN LEBANON//SWAMP STORIES FOR YOU TONIGHT

GOLD:$:  2036.30  UP $33.15  The quote is London spot price (cash market)

A NEW RECORD HIGH CLOSING

Silver:$26.74// UP $1.03   London spot price ( cash market)

Closing access prices:  London spot

i)Gold : $2038.00  LONDON SPOT  4:30 pm

 

ii)SILVER:  $26.94//LONDON SPOT  4:30 pm

CLOSING FUTURES PRICES:  KEY MONTHS

AUGUST GOLD:   $2033.00  CLOSE  1::30 PM  SPREAD SPOT/FUTURE AUG  (BACKWARD  $3.30)

OCT GOLD:  $2035.40  CLOSE 1.30 PM//   SPREAD SPOT/FUTURE OCT /:   BACKWARD: $1.10//

 

DEC. GOLD  $2047,80   CLOSE 1.30 PM      SPREAD SPOT/FUTURE DEC   $11.50   ($ NORMAL CONTANGO)

 

CLOSING SILVER FUTURE MONTH

SILVER SEPT COMEX CLOSE;   $26.81…1:30 PM.//SPREAD SPOT/FUTURE SEPT//  :  7 CENTS  PER OZ  ( NORMAL CONTANGO)

SILVER DECEMBER  CLOSE:     $27.04  1:30  PM SPREAD SPOT/FUTURE DEC.       : 31  CENTS PER OZ  ( 29 CENTS ABOVE NORMAL CONTANGO)

COMEX DATA

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

receiving today: 452/1437

issued 585

EXCHANGE: COMEX
CONTRACT: AUGUST 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 2,001.200000000 USD
INTENT DATE: 08/04/2020 DELIVERY DATE: 08/06/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
072 C GOLDMAN 2
072 H GOLDMAN 242
104 C MIZUHO 106
118 H MACQUARIE FUT 13
159 C ED&F MAN CAP 5
167 C MAREX 95
323 C HSBC 7
332 H STANDARD CHARTE 40
355 C CREDIT SUISSE 9
435 H SCOTIA CAPITAL 600
657 C MORGAN STANLEY 11 21
657 H MORGAN STANLEY 192
661 C JP MORGAN 585 292
661 H JP MORGAN 160
686 C INTL FCSTONE 3 1
690 C ABN AMRO 96 28
700 C UBS 38
709 C BARCLAYS 117
709 H BARCLAYS 2
732 C RBC CAP MARKETS 4
737 C ADVANTAGE 34 13
800 C MAREX SPEC 8 5
880 C CITIGROUP 4
880 H CITIGROUP 140
905 C ADM 1
____________________________________________________________________________________________

TOTAL: 1,437 1,437
MONTH TO DATE: 41,349

NUMBER OF NOTICES FILED TODAY FOR  AUGUST CONTRACT: 1437 NOTICE(S) FOR 503,800 OZ  (15.67 tonnes)

 

TOTAL NUMBER OF NOTICES FILED SO FAR:  39,912 NOTICES FOR 3,991,200 OZ  (124.14 TONNES)

 

SILVER

 

FOR AUGUST

 

185 NOTICE(S) FILED TODAY FOR 925,000  OZ/

total number of notices filed so far this month: 1097 for 5.585 MILLION oz

 

BITCOIN MORNING QUOTE  $11,405  UP 205

 

BITCOIN AFTERNOON QUOTE.: $11,673 UP 480

 

GLD AND SLV INVENTORIES:

WITH GOLD UP $33.75 AND NO PHYSICAL TO BE FOUND ANYWHERE:

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

A HUGE CHANGES IN GOLD INVENTORY AT THE GLD/// A DEPOSIT OF 9.35 PAPER TONNES INTO THE GLD

 

GLD: 1,257.73 TONNES OF GOLD//

 

WITH SILVER UP $1.03 TODAY: AND WITH NO SILVER AROUND:

 

A HUGE CHANGES IN SILVER INVENTORY AT THE  SLV: SURPRISINGLY:

A MONSTER PAPER DEPOSIT OF 5.403 MILLION OZ FROM THE SLV//

 

RESTING SLV INVENTORY TONIGHT:

 

SLV: 572.564  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 HUMONGOUS SIZED 5894 CONTRACTS FROM 199,633 UP TO 205,527, AND CLOSER TO OUR NEW RECORD OF 244,710, (FEB 25/2020. THE HUGE SIZED GAIN IN  OI OCCURRED WITH OUR $1.45 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 VERY STRONG INCREASE IN SILVER OZ. STANDING AT THE COMEX FOR AUGUST.  WE HAD A HUGE NET GAIN IN OUR TWO EXCHANGES OF 7430 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:   SEP 1186 DEC:  350 FOR ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE  1536 CONTRACTS. WITH THE TRANSFER OF 104 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 1536 EFP CONTRACTS TRANSLATES INTO 7.430 MILLION OZ  ACCOMPANYING:

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