by Harvey Organ, Harvey Organ Blog:
GREECE HIT WITH A HUGE INFLUX OF MIGRANTS FROM TURKEY/ISRAEL WARNS PUTIN THAT IRAN MUST LEAVE SYRIA OR ELSE THEY WILL ATTACK/TRUMP WANTS HIS WALL: IF NOT HE WILL SHUT DOWN GOVERNMENT/CITY OF HARTFORD WILL LIKELY FILE FOR BANKRUPTCY PROTECTION
GOLD: $1286.85 DOW $2.15
Silver: $16.98 DOWN 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: $1294.05 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1287.80
PREMIUM FIRST FIX: $6.25
SECOND SHANGHAI GOLD FIX: $1293.21
NY GOLD PRICE AT THE EXACT SAME TIME: $1289.60
Premium of Shanghai 2nd fix/NY:$3.61
LONDON FIRST GOLD FIX: 5:30 am est $1285.90
NY PRICING AT THE EXACT SAME TIME: $1286.20
LONDON SECOND GOLD FIX 10 AM: $1289.00
NY PRICING AT THE EXACT SAME TIME. $1289.10
For comex gold:
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 0 NOTICE(S) FOR NIL OZ.
TOTAL NOTICES SO FAR: 4584 FOR 458,400 OZ (14.258 TONNES)
28 NOTICES FILED TODAY FOR
Total number of notices filed so far this month: 1132 for 5,600,000 oz
As I have mentioned we are in options expiry week and you should expect pressure on gold/silver for the next 6 trading days. Today, the bankers twice repelled gold/silver’s advance as they try and keep gold under $1300 and silver under $17.00. The USA has only $82. billion left in the kitty with a burn rate of around 3 billion per day. David Stockman believes that there is little chance for a clean rise in the debt ceiling without huge concessions to Democrats. This article is a must read..
Let us have a look at the data for today
In silver, the total open interest ROSE by A HUGE 4,889 contracts from 187,227 UP TO 192,116 DESPITE THE TINY RISE IN PRICE THAT SILVER UNDERTOOK WITH YESTERDAY’S TRADING (UP 9 CENTS). NO DOUBT THE GEOPOLITICAL LANDSCAPE WITH TRUMP THREATENING THAT HE WANTS HIS WALL OR HE WILL SHUT DOWN GOVERNMENT CAUSED MANY TO ENTER THE PRECIOUS METALS ARENA. THE BANKERS HAD NO CHOICE BUT TO SUPPLY THE NECESSARY SHORT PAPER WITH THE NEWBIE SPECS ENTERING THE ARENA WITH RECKLESS ABANDON… SOME OLDER SPECS EXITED WITH A PROFIT.YESTERDAY, THE BANKERS WERE TELEGRAPHING A RAID THIS MORNING (SILVER SUBDUED IN PRICE COMPARED TO GOLD) WHICH FAILED AGAIN. THE BANKERS ARE GETTING QUITE NERVOUS WITH THEIR CONTINUED FAILED ATTEMPTS TO CONTROL THE PRECIOUS METALS ARENA.
RESULT: A MUCH HIGHER OI WITH A SLIGHT PRICE INCREASE.
In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.966 BILLION TO BE EXACT or 138% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 28 NOTICE(S) FOR 140,000OZ OF SILVER
In gold, the open interest ROSE BY A CONSIDERABLE 5,784 CONTRACTS WITH THE RISE in price of gold ($3.35 GAIN YESTERDAY .). The new OI for the gold complex rests at 506,227.
AS IN SILVER, THE GEOPOLITICAL LANDSCAPE WITH TRUMP THREATENING TO CLOSE GOVERNMENT IF HE DID NOT GET HIS WALL HAD A HUGE NUMBER OF NEWBIE SPECS ENTER THE GOLD ARENA WITH THE COMMERCIALS SUPPLYING THE NECESSARY PAPER. SOME OLD SPECS SOLD FOR A PROFIT, THINKING THAT THE PRECIOUS METALS WILL ALWAYS LOWER IN PRICE DURING OPTIONS EXPIRY WEEK.
Result: A HUGE GAIN IN OI with A RISE IN PRICE IN 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: 799.29 tonnes
IN THE LAST 29 TRADING DAYS: GLD SHEDS 37.68 TONNES YET GOLD IS HIGHER BY $54.35 .
Today: WE HAD A BIG CHANGE IN SILVER INVENTORY TONIGHT: A WITHDRAWAL OF 1.229 MILLION OZ/
INVENTORY RESTS AT 333.178 MILLION OZ
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver RISE BY 4,889 contracts from 187,227 UP TO 192,116 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH YESTERDAY’S 9 CENT GAIN IN TRADING. SILVER RESPONDED TO THE GEOPOLITICAL CLIMATE WHEREBY TRUMP THREATENED TO SHUT DOWN GOVERNMENT UNLESS HE GOT HIS WALL. NEWBIE SPECS ENTERED THE ARENA. OLD SPECS THINKING THAT OPTIONS EXPIRY WEEK NEVER WITNESSES A SILVER RISE, SOLD SOME OF THEIR LONGS FOR A PROFIT. THE BANKERS HAD NO CHOICE BUT TO SUPPLY SOME NEW SHORTS AND AGAIN THEY COULD NOT COVER. THE BANKERS KEPT SILVER IN CHECK TELEGRAPHING AN ATTEMPTED RAID WHICH AGAIN FAILED THIS MORNING
RESULT: A MUCH HIGHER OI WITH A TINY HIGHER 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 WEDNESDAY night/THURSDAY morning: Shanghai closed DOWN 16.19 POINTS OR 0.49% / /Hang Sang CLOSED UP 166.93 POINTS OR .43%/ The Nikkei closed DOWN 80.81 POINTS OR 0.42%/Australia’s all ordinaires CLOSED UP 0.15%/Chinese yuan (ONSHORE) closed UP at 6.6617/Oil DOWN to 48.14 dollars per barrel for WTI and 52.34 for Brent. Stocks in Europe OPENED GREEN , Offshore yuan trades 6.6613 yuan to the dollar vs 6.6617 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 STRONGER DOLLAR. CHINA IS NOT HAPPY TODAY
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