by Harvey Organ, Harvey Organ Blog:
THIS OUGHT TO SCARE YOU: THE WORLD’S LARGEST AD COMPANY (WPP) REPORTS LOUSY EARNINGS /AND GUIDANCE FOR THE REST OF THE YEAR: AWFUL!/NEW HOMES SALES DOWN 10% MONTH/MONTH
GOLD: $1289.00 UP $3.35
Silver: $17.07 UP 9 CENTS
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: $1283.95
PREMIUM FIRST FIX: $6.91
SECOND SHANGHAI GOLD FIX: $1292.59
NY GOLD PRICE AT THE EXACT SAME TIME: $1285.60
Premium of Shanghai 2nd fix/NY:$6.99
LONDON FIRST GOLD FIX: 5:30 am est $1285.10
NY PRICING AT THE EXACT SAME TIME: $1285.90
LONDON SECOND GOLD FIX 10 AM: $1286.65
NY PRICING AT THE EXACT SAME TIME. $1287.65???
For comex gold:
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 3 NOTICE(S) FOR 300 OZ.
TOTAL NOTICES SO FAR: 4584 FOR 458,400 OZ (14.258 TONNES)
15 NOTICES FILED TODAY FOR
Total number of notices filed so far this month: 1104 for 5,520,000 oz
As I have mentioned we are in options expiry week and you should expect pressure on gold/silver for the next 7 trading days. Gold and silver got a break today as Trump demanded his wall. If he does not get the secured funding for the wall, he will shut down government as there will not be a signed budget agreement for 2018. The USA has only 86 billion dollars left in the kitty and they burn around 3 billion per day. So they may run out by Sept 22 or Sept 23. Should be a very interesting September.
Let us have a look at the data for today
In silver, the total open interest FELL by only 1400 contracts from 188,627 down to 187,227 with THE DROP IN PRICE THAT SILVER UNDERTOOK WITH YESTERDAY’S TRADING (DOWN 3 CENTS). THE LOSS IN OI IS SMALLER IN COMPARISON TO THE LOSS IN OI IN GOLD AND THE CONSTANT TORMENT CAUSED BY OUR BANKERS. THE BANKERS INITIATED THE PRICE DROP YESTERDAY WITH PAPER SHORTS AND THIS CAUSED SOME OF OUR NEWBIE SPECS TO EXIT. BUT GENERALLY THE ENTIRE SILVER COMPLEX REMAINS CALM
RESULT: A SLIGHTLY LOWER OI WITH A LOWER PRICE.
In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.936 BILLION TO BE EXACT or 134% 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 CONSIDERABLE 5,386 CONTRACTS WITH THE FALL in price of gold ($5.20 LOSS YESTERDAY .). The new OI for the gold complex rests at 500,443. THE BANKERS INITIATED A RAID YESTERDAY AS THEY INITIALLY SUPPLIED THE SHORT PAPER TO LOWER THE GOLD PRICE. SOME OF OUR NEWBIE SPECS EXITED THE GOLD ARENA AND THE BANKERS COVERED A TINY PORTION OF THEIR SHORTS.
Result: A LOSS IN OI with LOSS IN PRICE IN GOLD.
we had: 3 notice(s) filed upon for 300 oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
Today, no changes in gold inventory:
Inventory rests tonight: 799.29 tonnes
IN THE LAST 28 TRADING DAYS: GLD SHEDS 37.68 TONNES YET GOLD IS HIGHER BY $56.50 .
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 1400 contracts from 188,627 DOWN TO 187,227 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE YESTERDAY’S 3 CENT LOSS IN TRADING. SILVER REMAINED QUITE RESILIENT AND REFUSED TO LOWER IN PRICE DESPITE THE RAID INITIATED BY THE CROOKS. SOME NEWBIE LONGS EXITED THE ARENA BUT NOT MUCH. THE BANKERS STILL REFUSE TO SUPPLY THE NECESSARY SHORT PAPER! RESULT: SLIGHTLY LOWER OI WITH A TINY LOWER PRICE.
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 2.52 POINTS OR 0.08% / /Hang Sang CLOSED HOLIDAY/ The Nikkei closed UP 50.80 POINTS OR 0.26%/Australia’s all ordinaires CLOSED DOWN 0.21%/Chinese yuan (ONSHORE) closed UP at 6.6631/Oil DOWN to 47.71 dollars per barrel for WTI and 51.59 for Brent. Stocks in Europe OPENED RED , Offshore yuan trades 6.6667 yuan to the dollar vs 6.6631 for onshore yuan. NOW THE OFFSHORE MOVED STRONGER TO THE ONSHORE YUAN/ ONSHORE YUAN STRONGER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS MUCH STRONGER TO THE DOLLAR AND THIS IS COUPLED WITH THE WEAKER DOLLAR. CHINA IS HAPPY TODAY
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