GOLD AND SILVER HOLD AFTER RELENTLESS ATTACKS BY THE BANKS: GOLD DOWN ONLY $2.95 AND SILVER IS DOWN ONLY 1 CENT

by Harvey Organ, Harvey Organ Blog:

EU TRYING TO EXTRACT A HUGE PENALTY FROM THE UK FOR BREXIT/ENGLAND BALKS/HURRICANE IRMA NOW FLOODS SAVANNAH GEORGIA AFTER SURGE FLOODS ALSO HIT CHARLESTON SC AND JACKSONVILLE

GOLD: $1328.60 DOWN   $2.95

Silver: $17.83  DOWN 1 CENT(S)

Closing access prices:

Gold $1331.75

silver: $17.89

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

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SECOND SHANGHAI GOLD FIX: $1330.58

NY GOLD PRICE AT THE EXACT SAME TIME: $1326.25

Premium of Shanghai 2nd fix/NY:$4.33

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LONDON FIRST GOLD FIX:  5:30 am est  $1326.25

NY PRICING AT THE EXACT SAME TIME: $1326.00

LONDON SECOND GOLD FIX  10 AM: $1326.50

NY PRICING AT THE EXACT SAME TIME. 1326.80

For comex gold:

SEPTEMBER/

NOTICES FILINGS TODAY FOR SEPT CONTRACT MONTH: 0 NOTICE(S) FOR  0  OZ.

TOTAL NOTICES SO FAR: 51 FOR 5100 OZ  (0.1586 TONNES)

For silver:

SEPTEMBER

 

 158 NOTICES FILED TODAY FOR

 

790,000  OZ/

Total number of notices filed so far this month: 4,634 for 23,170,000 oz

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Today was a good day as gold and silver withstood massive paper hits throughout the night and early this morning with the bankers going all out to lower the two prices of our precious metals.  Lately we have seen gold/silver withstand these fierce attacks.  You will recall that Andrew Maguire confirmed that perennial precious metal short Goldman Sachs has turned to the buy side.  They know the antics of the banks and it sure looks like it is these guys that are thwarting the paper selling efforts of our remaining banks.

Let us have a look at the data for today

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In silver, the total open interest FELL BY A RATHER LOW 1165 contracts from  188,176 DOWN TO 187,176 DESPITE THE HEAVY SIZED DROP IN PRICE THAT SILVER UNDERTOOK IN YESTERDAY’S TRADING (DOWN 19 CENT(S). WE HAVE HAD TWO DAYS OF TORMENT AND YET THE SILVER OPEN INTEREST HARDLY BUDGES.  THE LONGS ARE REMAINING STOIC AND REFUSE TO GIVE IN TO THE ANTICS OF THE BANKERS.

RESULT: A SMALL FALL IN OI COMEX  DESPITE THE 19 CENT PRICE LOSS. 

 In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e.  0.935 BILLION TO BE EXACT or 133% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 158 NOTICE(S) FOR 790,000OZ OF SILVER

In gold, the open interest FELL BY A SMALLER THAN EXPECTED 3,325 CONTRACTS DESPITE THE BIG LOSS  in price of gold ($15.05 LOSS YESTERDAY). The new OI for the gold complex rests at 574,119. NO WONDER THAT WE ANOTHER DAY OF TORMENT FROM THE BANKERS. 

THE FLASH CRASHES ARE CERTAINLY HAVE AN EFFECT ON SOME OF OUR WEAKER LONGS AS THEY DEPART THE CROOKED CASINO. THE BANKERS WERE NOT AS SUCCESSFUL IN COVERING SOME OF THEIR SHORTFALL.

Result: A SMALL SIZED LOSS IN OI DESPITE THE HUGE FALL IN PRICE IN GOLD ($15.05). THE COMMERCIALS SUPPLIED THE NECESSARY SHORT PAPER.  SOME OF OUR NEWBIE LONGS GOT ANNIHILATED ON ANOTHER FLASH CRASH.  THE BANKERS WERE NOT AS SUCCESSFUL IN COVERING THEIR SHORTS AS THEY WOULD HAVE LIKED.

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:

Tonight , we had no  changes in gold inventory:.as of 5;40 pm est

Inventory rests tonight: 834.50 tonnes

SLV

Today: no change in inventory.

INVENTORY RESTS AT 327.088 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 A SMALLER THAN EXPECTED 1165 contractsfrom 188,341  DOWN TO 187,176(AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE YESTERDAY’S 19 CENT LOSS IN TRADING. OUR LONGS ARE STRONG AND REFUSE TO BUDGE WITH THE ANTICS OF OUR BANKERS.

RESULT:  A  SMALLER OI  LOSS AT THE COMEX THAT WAS EXPECTED DESPITE THE LARGE  FALL IN PRICE OF 19 CENTS.

(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 SUNDAY night/MONDAY morning: Shanghai closed UP 3.06 POINTS OR 0.09%   / /Hang Sang CLOSED UP 17.11 POINTS OR 0.06%/ The Nikkei closed UP 230.85 POINTS OR 1.18%/Australia’s all ordinaires CLOSED UP 0.54%/Chinese yuan (ONSHORE) closed DOWN at 6.5360/Oil DOWN to 47.83 dollars per barrel for WTI and 53.83 for Brent. Stocks in Europe OPENED GREEN EXCEPT LONDON. Offshore yuan trades  6.5426 yuan to the dollar vs 6.5360 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 SLIGHTLY  WEAKER DOLLAR. CHINA IS NOT VERY HAPPY TODAY