GOLD ADVANCES BY $3.95 UNTIL HIT WITH HEAVY BANK CARTEL SELLING DUE TO OPTIONS EXPIRY ON THURSDAY/KIM’S RHETORIC INTENSIFIES

by Harvey Organ, Harvey Organ Blog:

HURRICANE HARVEY CONTINUES TO WRECK HAVOC ON HOUSTON: THE ESTIMATE OF DAMAGE: $100 BILLION/ISRAEL WARNS RUSSIA THAT THEY MAY HAVE TO BOMB ASSAD IN SYRIA DUE TO INCREASED IRANIAN INFLUENCE

GOLD: $1313.50  UP $3.95 *BREAKS RESISTANCE OF $1300.00

Silver: $17.45  UP 0 CENTS *BREAKS RESISTANCE OF $17.25

Closing access prices:

Gold $1309.50

silver: $17.40

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: $1299.64 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1204.25

PREMIUM FIRST FIX:  $5.38

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SECOND SHANGHAI GOLD FIX: $1324.74

NY GOLD PRICE AT THE EXACT SAME TIME: $13.17.60

Premium of Shanghai 2nd fix/NY:$5.03

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LONDON FIRST GOLD FIX:  5:30 am est  $1323.40

NY PRICING AT THE EXACT SAME TIME: $1324.90 ???

LONDON SECOND GOLD FIX  10 AM: $1318.95

NY PRICING AT THE EXACT SAME TIME.

For comex gold:

AUGUST/

NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 179 NOTICE(S) FOR  17,900  OZ.

TOTAL NOTICES SO FAR: 4801 FOR 480,100 OZ  (14.933 TONNES)

For silver:

AUGUST

 

 0 NOTICES FILED TODAY FOR

 

nil  OZ/

Total number of notices filed so far this month: 1248 for 6,240,000 oz

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We have already surpassed options expiry on the Comex, so the only one left is the LBMA/OTC options which expire on the 31st of August at around 10-11 am. You could bet the farm that the crooks will try and go after gold/silver tomorrow trying to get gold below $1300 and silver below $17.25. Prior to Hurricane Harvey and North Korea’s launch of a missile over Japan, it looked like smooth sailing for the bankers to pocket again underwritten options…. let is see what happens tomorrow

 

 

Let us have a look at the data for today

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In silver, the total open interest ROSE BY AN APPRECIABLE 1913 contracts from 188,145 UP TO 190,058 WITH THE HUGE RISE IN PRICE THAT SILVER UNDERTOOK WITH  YESTERDAY’S TRADING (UP 38 CENTS).HOWEVER WHEN YOU COMPARE WITH THE MAMMOTH INCREASE IN GOLD OI YOU CAN BE COMFORTED THAT THE BANKS ARE QUITE RETICENT TO SUPPLY ANY PAPER. NO DOUBT THAT WE LOST SOME PAPER PLAYER LONGS TO EFP’S BUT THAT WAS QUICKLY REPLACED WITH NEWBIE LONGS AGAIN TAKING ON THE BANKERS.  AS SOON AS SILVER BROKE RESISTANCE AT $17.25 THEY POURED ON THE JUICE WITH RECKLESS ABANDON.  SOME LONG SPECS EXITED WITH A PAPER PROFIT.

RESULT: A SMALLER HIGHER OI (THAN GOLD) WITH A HUGE PRICE INCREASE 

 In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e.  0.962 BILLION TO BE EXACT or 137% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 0 NOTICE(S) FOR nil  OZ OF SILVER

In gold, the open interest ROSE BY AN UNBELIEVABLE  22,957 CONTRACTS WITH THE  HUGE RISE  in price of gold ($16.95 GAIN YESTERDAY .). The new OI for the gold complex rests at 537,503.

AS IN SILVER, THE GEOPOLITICAL LANDSCAPE WITH TRUMP THREATENING TO CLOSE GOVERNMENT IF HE DID NOT GET HIS WALL , THE DOVISH SPEECHES BY BOTH DRAGHI AND YELLEN ON FRIDAY AT JACKSON HOLE, THE HOUSTON FLOODING & NORTH KOREA FIRING MORE MISSILES CAUSED A HUGE NUMBER OF NEWBIE SPECS TO AGAIN ENTER THE GOLD ARENA WITH THE COMMERCIALS SUPPLYING THE NECESSARY PAPER LIKE DRUNKEN SAILORS. ONCE 1300 DOLLAR GOLD WAS PIERCED, MORE NEWBIE LONGS CAME EMBOLDENED CONTINUING THEIR QUEST OF TAKING ON THE BANKERS WHO RECIPROCATED IN KIND WITH THE PAPER. SOME OLD SPECS LEFT FOR A PROFIT WITH THE HUGE RISE IN PRICE

Result: A HUMONGOUS GAIN IN OI WITH A HUGE RISE IN PRICE IN GOLD AND THE PIERCING OF RESISTANCE LEVEL $1300

we had: 179 notice(s) filed upon for 17,900 oz of gold.

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

GLD:

Tonight , we had another big  change in gold inventory: a deposit of 9.16 tonnes into the GLD inventory.  I doubt very much if this is physical gold/probably a paper gold entry:

Inventory rests tonight: 814.36 tonnes

IN THE LAST 32 TRADING DAYS: GLD SHEDS 22/61 TONNES YET GOLD IS HIGHER BY $81.25 .

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 ROSE BY 1913 contracts from 188,145 UP TO 190,058 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH YESTERDAY’S 38 CENT GAIN IN TRADING. SILVER RESPONDED TO 1) THE GEOPOLITICAL CLIMATE WHEREBY TRUMP THREATENED TO SHUT DOWN GOVERNMENT UNLESS HE GOT HIS WALL , 2) THE TWO DOVISH SPEECHES BY YELLEN 3) NORTH KOREA FIRING MORE MISSILES,4) THE HOUSTON FLOODING AND 5 THE PIERCING OF THE HUGE RESISTANCE LEVEL OF $17.25. WE PROBABLY HAD A FEW PAPER PLAYERS TENDERING SOME OF THEIR LONGS FOR SEPT. EFP’S (BUT THAT OBLIGATION STILL RESTS WITH THE BANKERS BUT ON A DIFFERENT EXCHANGE LONDON). HOWEVER THE GAIN IN NEWBIE LONGS FAR OUTDISTANCED THOSE PAPER PLAYERS EXITING.  THE BANKERS CONTINUE TO BE RETICENT IN SUPPLYING THE SHORT PAPER

RESULT:  A HIGHER OI AT THE COMEX,(BUT MUCH SMALLER THAN GOLD) WITH A HUGE PRICE INCREASE.

(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 MONDAY night/TUESDAY morning: Shanghai closed UP 2.54 POINTS OR 0.08%   / /Hang Sang CLOSED DOWN 98.28 POINTS OR 0.35%/ The Nikkei closed DOWN 87,35 POINTS OR 0.45%/Australia’s all ordinaires CLOSED DOWN 0.65%/Chinese yuan (ONSHORE) closed UP at 6.5960/Oil DOWN to 46.61 dollars per barrel for WTI and 51.51 for Brent. Stocks in Europe OPENED DEEPLY IN THE RED. Offshore yuan trades  6.6020 yuan to the dollar vs 6.5960 for onshore yuan. NOW THE OFFSHORE MOVED SLIGHTLY WEAKER  TO THE ONSHORE YUAN/ ONSHORE YUAN MUCH STRONGER (TO THE DOLLAR)  AND THE OFFSHORE YUAN IS MUCH STRONGER TO THE DOLLAR AND THIS IS COUPLED WITH THE EXTREMELY WEAKER DOLLAR. CHINA IS VERY HAPPY TODAY