GOLD HOLDS: UP $1.45 TO $1263.95/SILVER IS STILL HELD UNDER WATER AT $15.96 DOWN 10 CENTS

by Harvey Organ, Harvey Organ Blog:

COMEX HAS OVER 21,000 GOLD EFP TRANSFERS TO LONDON (OVER 2.1 MILLION OZ)/SILVER EFP OVER 4400 CONTRACTS OR 22.2 MILLION OZ/ BITCOIN RISES ABOVE $13,000/LARGEST BITCOIN MINER EXCHANGE HAS ALL OF ITS BITCOIN STOLEN ($50 MILLION DOLLARS WORTH) AND THESE CANNOT BE REPLACED; OWNERS LOSE THEIR INVESTMENT/TRUMP RECOGNIZES JERUSALEM AS ISRAEL’S CAPITAL AND WILL MOVE EMBASSY IN 6 MONTHS OR SO/ THERESA MAY WITNESSES THE POUND DROP AS THERE MAY BE A MUTINY IN HER PARTY

GOLD: $1263.95  UP $1.45

Silver: $15.96 DOWN 10 cents

Closing access prices:

Gold $1263.70

silver: $15.97

SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)

SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)

SHANGHAI FIRST GOLD FIX: $1272.97 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1266.07

PREMIUM FIRST FIX: $6.90

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SECOND SHANGHAI GOLD FIX: $1274.72

NY GOLD PRICE AT THE EXACT SAME TIME: $1267.70

Premium of Shanghai 2nd fix/NY:$7.02

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1268.55

NY PRICING AT THE EXACT SAME TIME: $1268.70

LONDON SECOND GOLD FIX 10 AM: $1263.20

NY PRICING AT THE EXACT SAME TIME. 1264.71???

For comex gold:

DECEMBER/

 NUMBER OF NOTICES FILED TODAY FOR DECBER CONTRACT:  2981 NOTICE(S) FOR 298,100 OZ.

TOTAL NOTICES SO FAR: 5995 FOR 599,500 OZ (18.646 TONNES)

For silver:

DECEMBER

137 NOTICE(S) FILED TODAY FOR

685,000 OZ/

Total number of notices filed so far this month: 5147 for 25,735,000 oz

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Bitcoin: BID $12,612/OFFER $12,673, up $987 (morning) 

BITCOIN : BID $13,152 OFFER: $13,212 // UP $1527 (CLOSING)

end

Let us have a look at the data for today

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In silver, the total open interest ROSE BY HUGE 2915 contracts from 190,005 RISING TO 192,970 DESPITE YESTERDAY’S HUGE 28 CENT FALL IN SILVER  AND NOW WELL BELOW THE HUGE $17.25 SILVER RESISTANCE.   WE HAD SURPRISINGLY NO  COMEX LIQUIDATION AS WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GIGANTIC NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE :  4432 EFP’S FOR MARCH (AND ZERO FOR DEC AND OTHER MONTHS) AND THUS TOTAL ISSUANCE OF 4452 CONTRACTS.   I GUESS 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. YESTERDAY WITNESSED 2881 EFP’S FOR SILVER ISSUED.

ACCUMULATION FOR EFP’S/SILVER/ STARTING FROM FIRST DAY NOTICE/FOR MONTH OF DECEMBER:  15,454 CONTRACTS (FOR 4 TRADING DAYS TOTAL 15,454 CONTRACTS OR 77.27 MILLION OZ: AVERAGE PER DAY: 3,863 CONTRACTS OR 19.31 MILLION OZ/DAY)

RESULT: A HUGE SIZED RISE IN OI COMEX DESPITE THE 28 CENT FALL IN SILVER PRICE.  HOWEVER  WE HAD ALL OF OUR COMEX LONGS WHICH EXITED OUT OF THE SILVER COMEX  TRANSFERRED THEIR OI TO LONDON THROUGH THE EFP ROUTE:  FROM THE CME DATA 4432 EFP’S  WERE ISSUED TODAY  FOR A DELIVERABLE CONTRACT OVER IN LONDON WITH A FIAT BONUS. IN ESSENCE THE  DEMAND FOR SILVER PHYSICAL INTENSIFIES GREATLY. WE REALLY GAINED 7347 OI CONTRACTS i.e. 4432 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 2915 OI COMEX CONTRACTS. AND ALL OF THIS INCREASED DEMAND  HAPPENED WITH THE FALL IN PRICE OF SILVER BY ANOTHER 28 CENTS WITH A LOW CLOSING PRICE OF $16.06 YESTERDAY. YET WE STILL HAVE A MASSIVE AMOUNT OF SILVER STANDING AT THE COMEX.

In ounces AT THE COMEX, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.964 BILLION TO BE EXACT or 138% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT DECEMBER MONTH/ THEY FILED: 137 NOTICE(S) FOR 685,000 OZ OF SILVER

In gold, the open interest FELL BY A TINY 611 CONTRACTS DOWN TO 472,795  DESPITE THE HUGE FALL  IN PRICE OF GOLD  YESTERDAY ($12.50).  HOWEVER,  THE TOTAL NUMBER OF GOLD EFP’S ISSUED TUESDAY FOR WEDNESDAY  TOTALED ANOTHER GIGANTIC 21,484 CONTRACTS OF WHICH THE MONTH OF DECEMBER SAW 0 CONTRACTS AND FEB SAW THE ISSUANCE OF 21,484 CONTRACTS. The new OI for the gold complex rests at 473,438. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE WITNESS THE HUGE NUMBER OF EFP TRANSFERS TOGETHER WITH THE MASSIVE AMOUNT OF GOLD OUNCES STANDING FOR DECEMBER. 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 ON TOP OF THAT IT IS TAKING A FURTHER 13 WEEKS TO OBTAIN PHYSICAL FROM THE POINT WHEN FORWARDS BECOME DUE. IN ESSENCE WE HAVE A NET GAIN OF 20,905 OICONTRACTS: 611 OI CONTRACTS LEFT THE  COMEX  BUT  21,484 OI CONTRACTS NAVIGATED OVER TO LONDON. THE CME HAS BEEN VERY TARDY IN THEIR REPORTING OF EFP ISSUANCE.  THEY ARE IMMEDIATELY REMOVING COMEX OPEN INTEREST NUMBERS BUT DELAYING RELEASE OF EFP’S FOR 24 HOURS OR GREATER AS NO DOUBT THEY ARE NEGOTIATING WITH THE LONGS FOR A FIAT BONUS.

YESTERDAY, WE HAD 11,033 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DECEMBER STARTING WITH FIRST DAY NOTICE:  63,752 CONTRACTS OR 6.375 MILLION OZ OR 198 TONNES (4 TRADING DAYS AND THUS AVERAGING:15,938 EFP CONTRACTS PER TRADING DAY OR 1.594 MILLION OZ)

Result: A SMALL SIZED INCREASE IN OI  WITH THE HUGE SIZED FALL IN PRICE IN GOLD YESTERDAY ($12.50). WE  HAD A HUMONGOUS  NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 21,484. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX AND YET WE REACHED THE HUGE DELIVERY MONTH OF DECEMBER. 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 21,484 EFP CONTRACTS ISSUED, WE HAD A NET GAIN OPEN INTEREST OF 20,905  contracts:

21,484 CONTRACTS MOVE TO LONDON AND 611 CONTRACTS LEFT THE  COMEX. THE NET GAIN IN OZ: 2.091 MILLION OZ AND IN TONNES: 65.04 TONNES

we had:  2981  notice(s) filed upon for 298,100 oz of gold.

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With respect to our two criminal funds, the GLD and the SLV:

GLD:

Today, NO CHANGES in gold inventory at the GLD/

Inventory rests tonight: 845.47 tonnes.

SLV

TODAY WE HAD  NO CHANGES IN SILVER INVENTORY AT THE SLV:

INVENTORY RESTS AT 321.713 MILLION OZ

end

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

1. Today, we had the open interest in silver SURPRISINGLY ROSE BY A HUMONGOUS 2915 contractsfrom 190,055 UP  TO 192,970 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE HUGE LOSS IN PRICE OF SILVER PRICE AND CONTINUAL BOMBARDMENT (A FALL OF 28 CENTS ). HOWEVER,OUR BANKERS  USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER HUGE  4432  PRIVATE EFP’S FOR MARCH (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM).  EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  WE HAD ZERO COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE OI GAIN AT THE COMEX (2915 CONTRACTS)   TO THE 4432 OI TRANSFERRED TO LONDON THROUGH EFP’S  WE OBTAIN A NET GAIN OF  7347 OPEN INTEREST CONTRACTS, ON TOP OF THE HUGE AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN DECEMBER (SEE BELOW). THE NET GAIN IN OZ: 36.73 MILLION OZ!!! 

RESULT: A HUGE SIZED INCREASE IN SILVER OI AT THE COMEX WITH THE 28 CENT FALL IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING).  BUT WE ALSO  HAD ANOTHER 4432 EFP’S ISSUED TRANSFERRING  COMEX LONGS OVER TO LONDON . TOGETHER WITH THE HUGE AMOUNT OF SILVER OUNCES STANDING FOR DECEMBER, DEMAND FOR PHYSICAL SILVER INTENSIFIES.

(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)Late MONDAY night/TUESDAY morning: Shanghai closed DOWN 9.71 points or .29% /Hang Sang CLOSED DOWN 618.00 pts or 2.34% / The Nikkei closed DOWN 445.34 POINTS OR 1.97%/Australia’s all ordinaires CLOSED DOWN 0.45%/Chinese yuan (ONSHORE) closed DOWN at 6.6150/Oil DOWN to 56.89 dollars per barrel for WTI and 62.20 for Brent. Stocks in Europe OPENED MOSTLY IN THE RED .    ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.6150. OFFSHORE YUAN CLOSED DOWN AGAINST  THE ONSHORE YUAN AT 6.6180 //ONSHORE YUAN WEAKER AGAINST THE DOLLAR/OFF SHORE WEAKER TO THE DOLLAR/. THE DOLLAR (INDEX) IS SLIGHTLY STRONGER AGAINST ALL MAJOR CURRENCIES. CHINA IS NOT  HAPPY TODAY.(MARKETS VERY  WEAK)

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