by Harvey Organ, Harvey Organ Blog:
GOLD DOWN 35 CENTS/SILVER DOWN 4 CENTS ON 7TH CONSECUTIVE RAID/DEBORAH WASSERMAN SCHULTZ’S AIDE CHARGED.
GOLD: $1286.15 DOWN $0.35
Silver: $17.02 DOWN 4 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: $1291.88 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1287.95
PREMIUM FIRST FIX: $3.93
SECOND SHANGHAI GOLD FIX: $1298.42
NY GOLD PRICE AT THE EXACT SAME TIME: $1287.40
Premium of Shanghai 2nd fix/NY:$9.02
LONDON FIRST GOLD FIX: 5:30 am est $1295.25
NY PRICING AT THE EXACT SAME TIME: $1295.85
LONDON SECOND GOLD FIX 10 AM: $1295.50
NY PRICING AT THE EXACT SAME TIME. $1297.65 ????
For comex gold:
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 0 NOTICE(S) FOR nil OZ.
TOTAL NOTICES SO FAR: 4581 FOR 458,100 OZ (14.248 TONNES)
51 NOTICES FILED TODAY FOR
Total number of notices filed so far this month: 1051 for 5,255,000 oz
Today for the 7th consecutive day we had a raid on both gold and silver.
Late at night after I received the preliminary data which gives me a good idea of where we are heading for the next day…..
I wrote this to my friends:
I will be shocked if we do not have another raid for the 7th consecutive trading day.
the Oi for gold is just too high..
let us see.”
with gold ready to puncture $1300.00 and silver $17.25, you could sense that the bankers had to cool both of our precious metals. The fact that silver lagged behind gold was a good sign that a raid was called upon as well as the weak close of the gold/equity stocks.
The most important aspect of today’s data is in silver. In the COT report, the bankers did not increase their massive shortfall position in silver because they are aware of the acute shortage of metal in London. The COT report shows a huge increase in commercial short position in gold but not silver.
The bankers needed a good positive close at the Dow and Nasdaq with the Bannon firing. After the Dow initially rose past 50 points, it closed down 75 points on the day….expect huge weakness again once the new week begins.
Let us have a look at the data for today
In silver, the total open interest ROSE BY 1,565 contracts from 188,247 up to 189,812 with THE RISE IN THE PRICE THAT SILVER UNDERTOOK WITH YESTERDAY’S TRADING (UP 11 CENTS) . THE BANKERS AGAIN PROVIDED THE SHORT PAPER TO INITIATE ANOTHER RAID YESTERDAY (6TH CONSECUTIVE DAY OF TORMENT). THAT FAILED IMMEDIATELY AS SILVER STARTED TO ADVANCE IN PRICE. NEWBIE SPEC LONGS REALIZING ANOTHER FAILED RAID, JUMPED ONTO THE BANDWAGON WITH PURCHASES. HOWEVER THE COMMERCIALS WERE STILL LOATHE TO SUPPLY THE SHORT CONTRACTS. THUS A HUGE ADVANCE IN PRICE WITH A SMALLER THAN GOLD GAIN IN OI.
In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.949 BILLION TO BE EXACT or 136% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 51 NOTICE(S) FOR 255,000OZ OF SILVER
In gold, the open interest ROSE by A MONSTROUS 10,722 WITH THE GOOD SIZED RISE in price of gold ($13.45 GAIN YESTERDAY.). The new OI for the gold complex rests at 493,127. A raid was called upon yesterday by the bankers and it failed. The bankers initiated the raid with short paper but newbie longs entered the arena with reckless abandon with the lower price of gold . Thus the bankers were not successful in covering their shorts but they did supply the necessary short paper to our newbie spec longs. The result: increase in open interest with a higher price for gold.
we had: 0 notice(s) filed upon for nil oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
Today, no changes in gold inventory:
Inventory rests tonight: 795.44 tonnes
IN THE LAST 25 TRADING DAYS: GLD SHEDS 41.53 TONNES YET GOLD IS HIGHER BY $53.15 .
Today: WE HAD NO CHANGES IN SILVER INVENTORY TONIGHT:
INVENTORY RESTS AT 334.407 MILLION OZ
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver RISE BY 1565 contracts from 188,247 up to 189,812 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH THE RISE IN SILVER PRICE (11 CENTS). THE INITIAL RAID THURSDAY MORNING WAS REBUFFED IMMEDIATELY BY A HUGE INFLUX OF NEWBIE LONGS ENTERING THE SILVER COMEX CASINO. BUT THIS TIME IT WAS GOLD THAT WAS IN THE LEAD AND SILVER LAGGED BEHIND. THE BANKERS STILL HAD A HARD TIME COVERING DUE TO THAT RISE IN PRICE. YOU CAN CLEARLY VISUALIZE BANKER CAPITULATION AS THEY TRY DESPERATELY TO EXIT SOME OF THEIR ENORMOUS SHORTS.. NEWBIE LONGS ENTERED ONCE THEY SAW THE FAILED RAID, WITH THE SUPPLY COMING FROM OLD SPECS EXITING FOR A PROFIT. RESULT: HIGHER PRICE WITH A SMALLER OI GAIN.
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 THURSDAY night/FRIDAY morning: Shanghai closed UP 0.29 POINTS OR 0.01% / /Hang Sang CLOSED DOWN 296.65 POINTS OR 1.08% The Nikkei closed DOWN 232.22 POINTS OR 1.18%/Australia’s all ordinaires CLOSED DOWN 0.49%/Chinese yuan (ONSHORE) closed UP at 6.6722/Oil UP to 47.18 dollars per barrel for WTI and 51.02 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN , Offshore yuan trades 6.6807 yuan to the dollar vs 6.6722 for onshore yuan. NOW THE OFFSHORE IS WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN STRONGER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS STRONG TO THE DOLLAR AND THIS IS COUPLED WITH THE WEAKER DOLLAR. CHINA IS HAPPY TODAY
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