by Harvey Organ, Harvey Organ Blog:
RUSSIA ADDS ANOTHER 12.44 TONNES TO ITS OFFICIAL RESERVES/MNUCHIN AGAIN AFFIRMS THE USA WILL RUN OF MONEY BY SEPT 29.2017/TWO COMMENTARIES TONIGHT ESSENTIAL TO READ: 1. JOHN WILLIAMS WITH GREG HUNTER; 2 DAVID STOCKMAN ON CHINA
GOLD: $1291.20 UP $5.05
Silver: $17.02 FLAT
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: $1290.86 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1285.95
PREMIUM FIRST FIX: $4.91
SECOND SHANGHAI GOLD FIX: $1293.21
NY GOLD PRICE AT THE EXACT SAME TIME: $1285.30
Premium of Shanghai 2nd fix/NY:$7.91
LONDON FIRST GOLD FIX: 5:30 am est $1287.60
NY PRICING AT THE EXACT SAME TIME: $1287.60
LONDON SECOND GOLD FIX 10 AM: $1292.90
NY PRICING AT THE EXACT SAME TIME. $1291.90 ????
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)
24 NOTICES FILED TODAY FOR
Total number of notices filed so far this month: 1075 for 5,375,000 oz
The open interest in gold rose to 506,000 contracts despite gold being down on Friday. However silver’s OI continues to drop (tonight:188,000) as the bankers are looking over their shoulder at London and witnessing huge shortages of physical metal plus a severe backwardation. We are now entering options expiry week and you know that gold and silver will be whacked until August 31.2017 (a week this Thursday). The crooks will do anything to keep gold below $1300.00 and silver below $17.10
Let us have a look at the data for today
In silver, the total open interest SURPRISINGLY FELL BY A LARGER THAN EXPECTED 981 contracts from 189,812 DOWN to 188,831 with THE TINY FALL IN THE PRICE THAT SILVER UNDERTOOK WITH FRIDAY’S TRADING (DOWN 4 CENTS) . THE FALL IN OI IS TINY WHEN YOU COMPARE IT TO GOLD (SEE BELOW). THE BANKERS AGAIN PROVIDED THE SHORT PAPER TO INITIATE ANOTHER RAID ON FRIDAY NOON TIME (7TH CONSECUTIVE DAY OF TORMENT). THAT SUCCEEDED IN DRIVING DOWN THE SILVER PRICE TO BELOW $17.00 UPON WHICH THE HFT TRADERS TOOK OVER ACCENTUATING THE FALL. NEWBIE LONGS, REALIZING ANOTHER BARGAIN WAS AT HAND GOBBLED UP WHAT WAS OFFERED. THE BANKERS ARE STILL LOATHE TO SUPPLY THE PAPER COMPARED TO GOLD. RESULT: A LOWER OI, COUPLED WITH AN OUTSIDE DAY REVERSAL TO THE DOWNSIDE, ENDING IN A TINY LOSS FOR SILVER.
In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.944 BILLION TO BE EXACT or 135% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 24 NOTICE(S) FOR 120,000OZ OF SILVER
In gold, the open interest ROSE by A MONSTROUS 13,528 DESPITE THE FALL in price of gold ($0.35 LOSS ON FRIDAY .). The new OI for the gold complex rests at 506,655. A raid was called upon at noon time FRIDAY (once London was officially put to bed) and that drove gold down from its zenith of $1301.00 down to 1286.15 at comex closing. Firstly newbie longs piled into the comex gold complex driving it up to the 1300 dollar area. Then the bankers initiated their raid upon which the HFT traders accentuated the downfall. However newbie specs did not liquidate but actually added on to their positions with the lower price. THE BANKERS CONTINUED TO SUPPLY COMEX GOLD WITH RECKLESS ABANDON.
Result: extremely higher OI with no gain in price
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, a big change in gold inventory: a deposit of 3.85 tonnes
Inventory rests tonight: 799.29 tonnes
IN THE LAST 26 TRADING DAYS: GLD SHEDS 37.68 TONNES YET GOLD IS HIGHER BY $58.20 .
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 FALL BY 981 contracts from 189,812 DOWN TO 188,831 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE TINY FALL IN SILVER PRICE (4 CENTS). SILVER ROSE TO OVER $17.25 BY FRIDAY NOON AND THEN THE BANKERS INITIATED A RAID, ACCENTUATED BY HFT TRADERS. NEWBIE LONGS DID NOT BUCKLE AND KEPT THEIR POSITIONS DESPITE THE RAID. SOME OLD SPEC LONGS SOLD TO NEWBIE SPEC LONGS..COMMERCIALS STILL LOATHE TO SUPPLY THE PAPER. RESULT: SLIGHTER LOWER PRICE WITH A SLIGHT LOSS IN OI .(COMPARED TO GOLD)
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 SUNDAY night/MONDAY morning: Shanghai closed UP 18.18 POINTS OR 0.56% / /Hang Sang CLOSED UP 107.11 POINTS OR 0.40% The Nikkei closed DOWN 77.28 POINTS OR 0.40%/Australia’s all ordinaires CLOSED DOWN 0.32%/Chinese yuan (ONSHORE) closed UP at 6.6719/Oil UP to 48.59 dollars per barrel for WTI and 52.66 for Brent. Stocks in Europe OPENED MIXED , Offshore yuan trades 6.6803 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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