by Harvey Organ, Harvey Organ Blog:
GOLD UP $3.55 TO 1277.55 AND SILVER UP TO $16.95 FOR A GAIN OF 25 CENTS/IN ACCESS TRADING: GOLD AT $1282.00 AND SILVER AT 17.08/FOMC MINUTES: LOW INFLATION WHICH GENERALLY MEANS NO WAGE INFLATION/ THEY WILL ANNOUNCE NEXT MONTH THE NORMALIZATION OF THEIR BALANCE SHEET/NO RATE HIKE FOR SEPTEMBER
GOLD: $1277.55 UP $3.85
Silver: $16.95 UP 25 cent(s)
Closing access prices:
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: $1278.74 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1273.70
PREMIUM FIRST FIX: $5.04
SECOND SHANGHAI GOLD FIX: $1274.86
NY GOLD PRICE AT THE EXACT SAME TIME: $1272.60
Premium of Shanghai 2nd fix/NY:$2.26
LONDON FIRST GOLD FIX: 5:30 am est $1270.15
NY PRICING AT THE EXACT SAME TIME: $1270.00
LONDON SECOND GOLD FIX 10 AM: $1272.25
NY PRICING AT THE EXACT SAME TIME. $1273.25
For comex gold:
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 32 NOTICE(S) FOR 3200 OZ.
TOTAL NOTICES SO FAR: 4579 FOR 457900 OZ (14.24 TONNES)
15 NOTICES FILED TODAY FOR
Total number of notices filed so far this month: 915 for 4,575,000 oz
The star today was silver as this metal completely rebuffed all attempts by the crooked bankers who initiated a raid for the 5th consecutive day. Gold got a spurt when Trump’s entire advisory board was disbanded. It seems that the entire Trump team is in chaos.
Let us have a look at the data for today
In silver, the total open interest SURPRISINGLY FELL AGAIN ONLY950 contracts from 189,478 DOWN TO 187,955 DESPITE THE HUGE FALL IN THE PRICE THAT SILVER TOOK WITH RESPECT TO YESTERDAY’S TRADING (DOWN 44 CENT(S) . THE BANKERS PROVIDED THE SHORT PAPER TO INITIATE THE RAID. WITH THE LOWER PRICE NEWBIE SPECS ENTERED FULL BLAST DRIVING THE PRICE A LITTLE HIGHER FROM THEIR LOWS WITH THE COMMERCIALS NEEDING TO SUPPLY THAT PAPER. THE COMMERCIALS ARE HAVING A TOUGH TIME COVERING…AND THUS NOT MUCH OF A CHANGE IN OPEN INTEREST.
In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.940 BILLION TO BE EXACT or 135% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 15 NOTICE(S) FOR 75,000OZ OF SILVER
In gold, the open interest FELL by A TINY 2222 WITH THE HUGE FALL in price of gold ($11.00 LOSS YESTERDAY.) The new OI for the gold complex rests at 477,921. A raid was called upon yesterday by the bankers and it succeeded in driving the price of gold southbound. The bankers initiated the raid with short paper but newbie longs entered the arena with the lower price. The bankers were not as successful in covering their shorts as they would have liked. They again called for another raid today but that too has failed
we had: 32 notice(s) filed upon for 3200 oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
Today, no changes in gold inventory:
Inventory rests tonight: 791.01 tonnes
IN THE LAST 23 TRADING DAYS: GLD SHEDS 45.96 TONNES YET GOLD IS HIGHER BY $40.00 .
Today: : WE NO CHANGES IN SILVER INVENTORY TONIGHT:
INVENTORY RESTS AT 335.825 MILLION OZ
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver FALL BY 950 contracts from 188,905 down to 187,955 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787). I wrote this yesterday: “THE FALL IN OPEN INTEREST WAS ACCOMPANIED BY A HUGE FALL IN PRICE AND IT STILL LOOKS LIKE 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 AND WILLING TO TAKE ON OUR CROOKED BANKERS. THUS A SMALL DECLINE IN OPEN INTEREST”. TODAY BANKER CAPITULATION CONTINUES AS SILVER RISES DESPITE THE RAID ATTEMPT.
2.a) The Shanghai and London gold fix report
2 b) Gold/silver trading overnight Europe, Goldcore
and in NY: Bloomberg
3. ASIAN AFFAIRS
i)Late TUESDAY night/WEDNESDAY morning: Shanghai closed DOWN 4.81 POINTS OR 0.15% / /Hang Sang CLOSED UP 234.11 POINTS OR 0.86% The Nikkei closed DOWN 24.03 POINTS OR 0.12%/Australia’s all ordinaires CLOSED UP 0.46%/Chinese yuan (ONSHORE) closed DOWN at 6.6950/Oil UP to 47.68 dollars per barrel for WTI and 51.03 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN , Offshore yuan trades 6.7020 yuan to the dollar vs 6.6950 for onshore yuan. NOW THE OFFSHORE IS WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN WEAKER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS MUCH WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE SLIGHTLY STRONGER DOLLAR. CHINA IS NOT HAPPY TODAY
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