CARTEL THROW 2 MILLION OZ OF GOLD KNOCKING GOLD (AND SILVER) DOWN BUT LO AND BEHOLD BOTH METALS RECOVER AS THE DOLLAR TANKS

by Harvey Organ, Harvey Organ Blog:

GOLD UP $6.00 ON THE DAY/SILVER UP 9 CENTS/HURRICANE HARVEY TO HIT TEXAS COAST TONIGHT AND LINGER THERE: NO DOUBT WILL CAUSE TERRIFIC DAMAGE/SEARS HOLDINGS IS ON DEATH WATCH/GOOGLE TO REFUND MONEY DUE TO FAKE ADVERTISING HITS/YELLEN AND DRAGHI SPEECHES: A NOTHING BURGER

GOLD: $1292.85  UP $6.00

Silver: $17.07  UP 9 CENTS

Closing access prices:

Gold $1291.25

silver: $17.04

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: $1293.25 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1285.85

PREMIUM FIRST FIX:  $7.40

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SECOND SHANGHAI GOLD FIX: $1293.25

NY GOLD PRICE AT THE EXACT SAME TIME: $1286.70

Premium of Shanghai 2nd fix/NY:$6.55

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LONDON FIRST GOLD FIX:  5:30 am est  $1287.05

NY PRICING AT THE EXACT SAME TIME: $1287.65

LONDON SECOND GOLD FIX  10 AM: $1285.30

NY PRICING AT THE EXACT SAME TIME. $1281.00???????????????????????????

For comex gold:

AUGUST/

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)

For silver:

AUGUST

 

 46 NOTICES FILED TODAY FOR

 

230,000  OZ/

Total number of notices filed so far this month: 1178 for 5,890,000 oz

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TODAY THE BANKERS THREW 2 MILLION OZ OF PAPER SHORTS TRYING TO KNOCK GOLD OFF ITS PERCH.  IT SUCCEEDED FOR ONLY ONE HOUR AS GOLD REBOUNDED ON NEWS OF YELLEN’S DOVISH SPEECH AT JACKSON HOLE. GOLD FINISHED UP $6.00 AND SILVER WAS UP 9 CENTS. LATE IN THE AFTERNOON DRAGHI’S SPEECH WAS ALSO A NOTHING BURGER AND THAT PROPELLED THE EURO NORTHBOUND (AND THE SINKING OF THE USA DOLLAR INDEX BREAKING THE 93 BARRIER TO 92.56.

I JUST CANNOT WAIT UNTIL I SEE THE OPEN INTEREST FOR BOTH GOLD AND SILVER FOR TODAY.  THEY WILL BE RELEASED LATE IN THE EVENING OR IF THEY CONTINUE LIKE THEY DID LAST WEEK, IT WILL BE RELEASED AT 2 PM SATURDAY.

 

I WILL PLACE THEM  BETWEEN THE XXX’S AS SOON AS I OBTAIN IT: (AND A COMMENT ON IT)

 

 

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PRELIMINARY OI FOR MONDAY, AUGUST 28

 

 

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Let us have a look at the data for today

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In silver, the total open interest FELL by A CONSIDERABLE 3703 contracts from 192,116 DOWN TO 188,413 DESPITE THE TINY FALL IN PRICE THAT SILVER UNDERTOOK WITH  YESTERDAY’S TRADING (DOWN 9 CENTS). IT SEEMS THAT WE HAD A TRANSFER FROM SILVER OI’S TO SILVER EFP’S AS WE ARE APPROACHING FIRST DAY NOTICE. IN GOLD THE OBLITERATION IS HUGE, BUT IN SILVER IT IS MINOR. THE ISSUANCE OF EFP’S DESTROYS THE PRICE DISCOVERY MECHANISM BECAUSE WE HAVE NO PHYSICAL PRICE ANYWHERE IN THE EQUATION. THE LONGS RECEIVE A FIAT BONUS PLUS A “DELIVERABLE” PRODUCT WHICH IS NO DOUBT A LONDON BASED FORWARD.

RESULT: A LOWER OI WITH A SLIGHT PRICE DECREASE AND TWO RAID FAILURES.

 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: 46 NOTICE(S) FOR 230,000OZ OF SILVER

In gold, the open interest ROSE BY A CONSIDERABLE 2,984 CONTRACTS DESPITE THE FALL  in price of gold ($2.15 LOSS  YESTERDAY .). The new OI for the gold complex rests at 509,211.

AS IN SILVER, THE GEOPOLITICAL LANDSCAPE WITH TRUMP THREATENING TO CLOSE GOVERNMENT IF HE DID NOT GET HIS WALL CAUSED A HUGE NUMBER OF NEWBIE SPECS TO AGAIN ENTER THE GOLD ARENA WITH THE COMMERCIALS SUPPLYING THE NECESSARY PAPER. WE HAD TWO UNSUCCESSFUL RAIDS AGAINST GOLD YESTERDAY AND IT HAD NO REAL EFFECT ON THE PRICE. PLEASE NOTE THAT WE DO NOT GET AN OBLITERATION OF OI IN A NON ACTIVE MONTH. THE BANKERS CALLED UPON THEIR TROOPS TO ORCHESTRATE ANOTHER RAID ON OUR PRECIOUS METALS AND THAT ENDED IN FAILURE AS WELL.

Result: A GOOD SIZED GAIN IN OI with A SMALL FALL IN PRICE IN GOLD.

we had: 0 notice(s) filed upon for NIL oz of gold.

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With respect to our two criminal funds, the GLD and the SLV:

GLD:

Today, no changes in gold inventory:

Inventory rests tonight: 799.29 tonnes

IN THE LAST 30 TRADING DAYS: GLD SHEDS 37.68 TONNES YET GOLD IS HIGHER BY $60.35 .

SLV

Today:  WE HAD NO CHANGES IN SILVER INVENTORY TONIGHT:

INVENTORY RESTS AT 333.178 MILLION OZ

 

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First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver FALL BY 3,703 contracts from 192,116 DOWN TO 188,413 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH YESTERDAY’S 9 CENT LOSS 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. SOME  OLD SPECS, THOSE STILL PLAYING THE HARLEM GLOBETROTTERS VS WASHINGTON GENERALS GAME, TENDERED FOR EFP’S. HOWEVER THE LOSS WAS TINY WHEN WE NORMALLY COMPARE  THE OBLITERATION WE GET IN GOLD. DEMAND FOR SILVER DID NOT DISSIPATE AT ALL, THEY JUST RECEIVED ANOTHER DELIVERABLE PRODUCT IN LONDON.(A FORWARD)

RESULT:  A MUCH LOWER OI AT THE COMEX, WITH A TINY LOWER PRICE. (AND A GAIN IN DELIVERABLE PRODUCT IN LONDON)

(report Harvey)

.

2.a) The Shanghai and London gold fix report

(Harvey)

 

2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY:  Bloomberg

3. ASIAN AFFAIRS

i)Late THURSDAY night/FRIDAY morning: Shanghai closed UP 60.00 POINTS OR 1.83%   / /Hang Sang CLOSED UP 329.56 POINTS OR 1.20%/ The Nikkei closed UP 98.84 POINTS OR 0.51%/Australia’s all ordinaires CLOSED UP 0.03%/Chinese yuan (ONSHORE) closed UP at 6.6560/Oil UP to 47.73 dollars per barrel for WTI and 52.41 for Brent. Stocks in Europe OPENED GREEN. Offshore yuan trades  6.6560 yuan to the dollar vs 6.6560 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