COT REPORT SHOWS BANKERS CAPITULATING IN SILVER/GOLD RISES $4.10 AND SILVER UP 4 CENTS

by Harvey Organ, Harvey Organ Blogspot:

GOLD AND SILVER WITHSTAND ANOTHER ATTACK BY BANKERS TODAY/RHETORIC INCREASES BETWEEN NORTH KOREA AND THE USA/CHINA REFUSES TO ADVANCE THE IDEA OF A REGIME CHANGE IN NORTH KOREA: NOT WHAT THE USA WANTED TO HEAR/CONSUMER PRICES AND WAGE INFLATION DISAPPOINT THE FED FOR THE 5TH CONSECUTIVE MONTH/GOLDMAN SACHS LOWERS THE CHANCES FOR ANOTHER RATE HIKE

GOLD: $1287.80  UP $4.10

Silver: $17.08  up 4 cent(s)

Closing access prices:

Gold $1289.50

silver: $17.11

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: $1288.86 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1284.30

PREMIUM FIRST FIX:  $4.56

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SECOND SHANGHAI GOLD FIX: $1291.86

NY GOLD PRICE AT THE EXACT SAME TIME: $1288.40

Premium of Shanghai 2nd fix/NY:$3.46

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LONDON FIRST GOLD FIX:  5:30 am est  $1288.30

NY PRICING AT THE EXACT SAME TIME: $1288.40 

LONDON SECOND GOLD FIX  10 AM: $1286.10

NY PRICING AT THE EXACT SAME TIME. $1287.10 

For comex gold:

AUGUST/

NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 19 NOTICE(S) FOR  1900  OZ.

TOTAL NOTICES SO FAR: 4487 FOR 448700 OZ (13.956 TONNES) 

For silver:

AUGUST

 

 88 NOTICES FILED TODAY FOR

 

44,000  OZ/

Total number of notices filed so far this month: 810 for 4,050,000 oz

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Today, the bankers tried to raid both gold and silver.  They like Friday’s especially once London officially closes because they do not have to worry about physical demand for another 48 hrs starting on Monday. Once again their attack was rebuffed.  Also extremely encouraging is the COT for silver which saw bankers start to unload their massive shortfall

Let us have a look at the data for today

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In silver, the total open interest SURPRISINGLY FELL BY687 contracts from 195,132 DOWN TO 194,445 DESPITE THE HUGE RISE IN THE PRICE THAT SILVER TOOK WITH RESPECT TO YESTERDAY’S TRADING (UP 21 CENT(S). SIMPLE EXPLANATION: THE BANKERS HAVE CAPITULATED..THEY ARE TRYING TO COVER THEIR SHORTFALL AT HIGHER AND HIGHER PRICES. THE BANKERS ARE LOATHER TO SUPPLY ADDITIONAL SHORT PAPER AND LONGS ARE COMING IN LIKE GANG BUSTERS.

 In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e.  0.972 BILLION TO BE EXACT or 139% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 88 NOTICE(S) FOR 440,000OZ OF SILVER

In gold, the open interest ROSE by A CONSIDERABLE 11,516 WITH the RISE in price of gold ($10.70 GAIN ON YESTERDAY.)  The new OI for the gold complex rests at 475,913.  IN COMPLETE CONTRAST TO SILVER, THE BANKERS SUPPLIED THE MASSIVE AMOUNT OF PAPER SHORT GOLD WHICH WAS GOBBLED UP BY THE LONGS.  THE NEWBIE SPEC SHORTS HAVE NO DOUBT COVERED THEIR POSITION. NO WONDER A RAID WAS CALLED UPON BY THE ELITE TO ROB THE NEWBIE LONGS.

we had: 19 notice(s) filed upon for 1900 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:

Inventory rests tonight: 786.87 tonnes

 

(from Tuesday through Thursday we lost .17 tonnes which paid for fees)

IN THE LAST 21 TRADING DAYS: GLD SHEDS 50.1 TONNES YET GOLD IS HIGHER BY $48.95 . 

SLV

Today: : WE NO CHANGES IN SILVER INVENTORY TONIGHT:

INVENTORY RESTS AT 335.825 MILLION OZ BUT WE LOST 3.781 MILLION OZ FROM TUESDAY THROUGH TO THURSDAY.

 

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

1. Today, we had the open interest in silver FALL BY  687 contracts from 195,132 UP TO 194,445 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787). THE FALL IN OPEN INTEREST WAS ACCOMPANIED BY A HUGE RISE IN PRICE AND FOR THE FIRST TIME WE ARE WITNESSING BANKER CAPITULATION.  BANKERS ARE LOATHE TO SUPPLY NEW SHORT PAPER AND THE LONGS CONTINUE TO ENTER THE ARENA PURCHASING WHATEVER SILVER THEY CAN. 

(report Harvey)

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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 THURSDAY night/FRIDAY morning: Shanghai closed DOWN 53.21 POINTS OR 1.63%   / /Hang Sang CLOSED DOWN 560.49 POINTS OR 2.04% The Nikkei closed DOWN 8.97 POINTS OR .05%/Australia’s all ordinaires CLOSED DOWN 1.15%/Chinese yuan (ONSHORE) closed UP at 6.6651/Oil DOWN to 48.36 dollars per barrel for WTI and 51.68 for Brent. Stocks in Europe OPENED DEEPLY IN THE RED , Offshore yuan trades  6.6784 yuan to the dollar vs 6.7201 for onshore yuan. NOW THE OFFSHORE IS WEAKER  TO THE ONSHORE YUAN/ ONSHORE YUAN STRONGER (TO THE DOLLAR)  AND THE OFFSHORE YUAN IS STRONGER TO THE DOLLAR AND THIS IS COUPLED WITH THE SLIGHTLY STRONGER DOLLAR. CHINA IS  HAPPY TODAY

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