GOLD FALLS BY $5.00 DOWN TO $1308.50/SILVER DOWN ONLY ONE CENT

by Harvey Organ, Harvey Organ Blog:

GLD ADDS ANOTHER 2.08 TONNES OF GOLD/GIANT CHEMICAL FACTORY READY TO EXPLODE IN CROSBY TEXAS/HURRICANE HARVEY MAKES A 2ND RUN AT LANDFALL TRAVELLING UP LOUISIANA

GOLD: $1308.50  DOWN $5.00

Silver: $17.44  DOWN 1 CENT(S)

Closing access prices:

Gold $1309.00

silver: $17.43

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: $1318.53 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1312.35

PREMIUM FIRST FIX:  $6.17

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SECOND SHANGHAI GOLD FIX: $1312.31

NY GOLD PRICE AT THE EXACT SAME TIME: $1307.95

Premium of Shanghai 2nd fix/NY:$4.36

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LONDON FIRST GOLD FIX:  5:30 am est  $1310.60

NY PRICING AT THE EXACT SAME TIME: $1310.80

LONDON SECOND GOLD FIX  10 AM: $1308.50

NY PRICING AT THE EXACT SAME TIME. 1307.00  ???

For comex gold:

AUGUST/

NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 444 NOTICE(S) FOR  44,400  OZ.

TOTAL NOTICES SO FAR: 5245 FOR 524,500 OZ  (16.314 TONNES)

For silver:

AUGUST

 

 1 NOTICES FILED TODAY FOR

 

5,000  OZ/

Total number of notices filed so far this month: 1249 for 6,245,000 oz

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As I expected, the criminal bankers tried their best to keep gold and silver from rising so as to pocket underwritten options.  However they did not succeed in lowering the price of gold to $1300.00 and $17.25 silver where the bulk of options were underwritten. London based gold/silver options have an expiry tomorrow morning at around 10 -11 am.  After that we should see our precious metals rise.

 

 

Let us have a look at the data for today

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In silver, the total open interest FELL BY AN APPRECIABLE 7235 contracts from 188,145 DOWN TO 182,823 DESPITE THE NO GAIN IN PRICE THAT SILVER UNDERTOOK WITH  YESTERDAY’S TRADING (UP 0 CENTS).HOWEVER WHEN YOU COMPARE WITH THE INCREASE IN GOLD OI YOU CAN BE COMFORTED THAT THE BANKS ARE STILL QUITE RETICENT TO SUPPLY ANY PAPER. NO DOUBT THAT WE LOST SOME SEPT. COMEX SILVER LONGS TO SEPT. EFP’S (IN EXCESS OF 7300 EFP’S). HOWEVER THE CONTRACTION IN OPEN INTEREST IS CERTAINLY NOT AS GREAT AS GOLD ONCE WE HIT FIRST DAY NOTICE (OR THE DAY BEFORE) OF AN ACTIVE DELIVERY MONTH. AS SOON AS SILVER BROKE RESISTANCE AT $17.25 AND THUS THE NEW SUPPORT LEVEL, NEWBIE LONGS POURED ON THE JUICE WITH RECKLESS ABANDON AS THEY ENTERED THE SILVER ARENA.  SEPT PLAYERS MOVED TO EFP’S BUT THE OBLIGATION TO DELIVER STILL RESTS WITH THEM BUT ON A DIFFERENT EXCHANGE (AND THEY RECEIVED A FIAT REWARD FOR THEIR EFFORT).  THE LOSS IN OI TO EFP’S WAS GREATER THAN NEWBIE SPEC LONGS ENTERING THE SILVER ARENA. 

RESULT: A HIGH DROP IN OI COMEX (OPPOSITE TO GOLD) WITH A ZERO PRICE INCREASE AND A FAIR SIZED GAIN IN SEPT EFP’S DELIVERABLE SILVER i.e.LONDON FORWARDS

 In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e.  0.917 BILLION TO BE EXACT or 131% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 1 NOTICE(S) FOR 5,000OZ OF SILVER

In gold, the open interest ROSE BY  1372 CONTRACTS WITH THE  RISE  in price of gold ($3.95 GAIN YESTERDAY). The new OI for the gold complex rests at 538,875.

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 GOOD SIZED RISE IN PRICE. YESTERDAY AFTERNOON GOLD WAS HIT IN THE ACCESS MARKET TO WHICH IT RECOVERED BY 2 AM.  THE BANKERS WHACKED AGAIN AND TRUE TO FORM GOLD RECOVERED IN PRICE AGAIN BY 7 AM TO WHICH ANOTHER RAID WAS INITIATED ALL TO CAUSE UNDERWRITTEN OPTION CONTRACTS TO EXPIRE WORTHLESS.  THE BANKS ARE CROOKS AND RECEIVE HELP FROM OUR REGULATORS.

Result: A FAIR SIZED GAIN IN OI WITH THE RISE IN PRICE IN GOLD AND RESISTANCE/NEW SUPPORT LEVELS HOLDING AT $1300 GOLD.

we had: 444 notice(s) filed upon for 44,400 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 2.07 tonnes into the GLD inventory.  I doubt very much if this is physical gold/probably a paper gold entry:

Inventory rests tonight: 816.43 tonnes

IN THE LAST 33 TRADING DAYS: GLD SHEDS 20.54 TONNES YET GOLD IS HIGHER BY $76.25 .

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 FELL BY 7235 contracts from 188,145 DOWN TO 182,823 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH YESTERDAY’S 0 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 WHICH NOW BECOMES THE NEW SUPPORT LEVEL. WE NO DOUBT HAD IN EXCESS OF 7300 LONG SEPT. SILVER PLAYERS TENDERING THEIR LONGS FOR SEPT. EFP’S (BUT THAT OBLIGATION STILL RESTS WITH THE BANKERS BUT ON A DIFFERENT EXCHANGE LONDON). NEWBIE LONGS ENTERED THE ARENA WHEN THEY SAW ANOTHER FAILED RAID ATTEMPT. HOWEVER THE GAIN IN NEWBIE LONGS WAS FAR LESS THAN THOSE PAPER PLAYERS EXITING FOR EFP’S. THE BANKERS CONTINUE TO BE RETICENT IN SUPPLYING THE SHORT PAPER. ANOTHER RAID WAS ORCHESTRATED TO CAUSE UNDERWRITTEN OPTIONS CONTRACTS TO EXPIRE WORTHLESS.

RESULT:  A LOWER OI AT THE COMEX, IN CONTRAST TO GOLD) WITH A ZERO PRICE INCREASE AND AN HUGE 7300+ GAIN IN SEPT EFP’S.

(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 TUESDAY night/WEDNESDAY morning: Shanghai closed DOWN 1.60 POINTS OR 0.05%   / /Hang Sang CLOSED UP 329.60 POINTS OR 1.19%/ The Nikkei closed UP 143.99 POINTS OR 0.74%/Australia’s all ordinaires CLOSED UP 0.01%/Chinese yuan (ONSHORE) closed UP at 6.5920/Oil DOWN to 46.17 dollars per barrel for WTI and 51.76 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN. Offshore yuan trades  6.5933 yuan to the dollar vs 6.5920 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 SLIGHTLY STRONGER DOLLAR. CHINA IS  HAPPY TODAY