by Harvey Organ, Harvey Organ Blog:
SAUDI ARABIA’S CROWN PRINCE SUPPOSEDLY VISITED ISRAEL AS BOTH NATIONS TRY AND DIVIDE THE SHIITE CRESCENT/CHINA ORDERS ALL BANKS TO CEASE DEALING WITH NORTH KOREA
GOLD: $1331.55 DOWN $15.05
Silver: $17.84 DOWN 19 CENT(S)
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: $1342.23 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1337.40
PREMIUM FIRST FIX: $4.83
SECOND SHANGHAI GOLD FIX: $1339.31
NY GOLD PRICE AT THE EXACT SAME TIME: $1336.40
Premium of Shanghai 2nd fix/NY:$2.91
LONDON FIRST GOLD FIX: 5:30 am est $1338.75
NY PRICING AT THE EXACT SAME TIME: $1338.60
LONDON SECOND GOLD FIX 10 AM: $1334.20
NY PRICING AT THE EXACT SAME TIME. 1334.50
For comex gold:
NOTICES FILINGS TODAY FOR SEPT CONTRACT MONTH: 0 NOTICE(S) FOR 0 OZ.
TOTAL NOTICES SO FAR: 51 FOR 5100 OZ (0.1586 TONNES)
388 NOTICES FILED TODAY FOR
Total number of notices filed so far this month: 4,476 for 22,380,000 oz
The hurricanes Harvey and Irma have been deadly to the housing sector in the Texas market and Florida and no doubt we will have problems in Charleston. Hundred’s of thousands of homes have been destroyed and must be replaced. The problem is that 85% of the home owners are not insured. Loans from FEMA will not help as the consumer is already maxed out.
As for gold/silver, the bankers are seeing a huge OI in gold but it is silver that is bothering them. In London, we now have backwardation Sept over December which should give you the comfort that physical silver is scarce over there. On this side of the pond, we again have an increase in physical silver standing at the comex.
Let us have a look at the data for today
In silver, the total open interest ROSE BY STEADY 1189 contracts from 187,152 UP TO 188,341 WITH THE TINY SIZED DROP IN PRICE THAT SILVER UNDERTOOK IN YESTERDAY’S TRADING (DOWN 1 CENT(S). AFTER THURSDAY’S FAILED FLASH CRASH, MORE NEWBIE SILVER LONGS BECAME EMBOLDENED ON FRIDAY TO TAKE ON THE BANKERS. THE BANKERS HOWEVER DID NOT WANT TO SEE SILVER’S PRICE BREAK AWAY FROM THEM SO AGAIN, ONCE LONDON WAS PUT TO BED, ORCHESTRATED FLASH CRASH AND THEY CONTINUED THE ASSAULT WITH ANOTHER FLASH CRASH AT 6:10 EST SUNDAY NIGHT
RESULT: A GOOD RISE IN OI COMEX DESPITE THE 1 CENT PRICE LOSS.
In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.941 BILLION TO BE EXACT or 135% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 388 NOTICE(S) FOR 1,940,000OZ OF SILVER
In gold, the open interest FELL BY A MODEST 2137 CONTRACTS DESPITE THE SMALL GAIN in price of gold ($1.10 GAIN ON FRIDAY). The new OI for the gold complex rests at 577,444.
AGAIN, THE NUMBER OF NEWBIE SPECS ENTERING THE GOLD ARENA INCREASES WITH EACH PASSING DAY, AND OUR COMMERCIALS AGAIN SUPPLYING THE NECESSARY PAPER. ONCE LONDON (AND CHINA) WERE PUT TO BED, THE BANKERS FLASH CRASHED AGAIN ON FRIDAY WHICH HAD NO REAL EFFECT. THAT IS WHY THEY ORCHESTRATED ANOTHER FLASH CRASH SUNDAY NIGHT/MONDAY MORNING.
Result: A MODEST SIZED LOSS IN OI DESPITE THE RISE IN PRICE IN GOLD ($1.15). THE COMMERCIALS SUPPLIED THE NECESSARY SHORT PAPER. MORE NEWBIE LONGS ENTERED THE COMEX CASINO WILLING TO TAKE ON THE BANKERS. ONCE THE PHYSICAL TIME ZONE WAS OVER, ANOTHER FLASH CRASH WAS INITIATED WITH LITTLE EFFECT. THE BANKERS ORCHESTRATED ANOTHER FLASH CARASH ON MONDAY AS THEIR CRIMINAL ACTIVITY INTENSIFIES.
we had: 0 notice(s) filed upon for NIL oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
Tonight , we had a huge change in gold inventory: a withdrawal of 2.37 tonnes and no doubt that this paper gold was used in the raid today.
Inventory rests tonight: 834.50 tonnes
Today: no change in inventory.
INVENTORY RESTS AT 327.088 MILLION OZ
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver ROSE BY A STEADY 1189 contracts from 187,152 UP TO 188,341(AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE YESTERDAY’S 1 CENT LOSS IN TRADING. SILVER ROSE IN PRICE NICELY ON FRIDAY ONLY TO BE FLASH CRASHED SOUTHBOUND AS SOON AS THE PHYSICAL ZONE TRADING FINISHED. THE BANKERS CONTINUED WITH ANOTHER FLASH CRASH TODAY.
RESULT: A HIGHER OI AT THE COMEX DESPITE THE SLIGHT FALL IN PRICE OF 1 CENT. ANOTHER BANKER FLASH CRASH FAILED ON FRIDAY SO THEY INITIATED ANOTHER FLASH CRASH TODAY..
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 SUNDAY night/MONDAY morning: Shanghai closed UP 11.18 POINTS OR 0.33% / /Hang Sang CLOSED UP 286.66 POINTS OR 1.04%/ The Nikkei closed UP 286.66 POINTS OR 1.04%/Australia’s all ordinaires CLOSED UP 0.62%/Chinese yuan (ONSHORE) closed DOWN at 6.5260/Oil DOWN to 47.82 dollars per barrel for WTI and 53.62 for Brent. Stocks in Europe OPENED GREEN EXCEPT LONDON. Offshore yuan trades 6.5315 yuan to the dollar vs 6.5260 for onshore yuan. NOW THE OFFSHORE MOVED MUCH WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN MUCH WEAKER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS A LOT WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE STRONGER DOLLAR. CHINA IS NOT VERY HAPPY TODAY
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