GOLD RISES BY $8.65 AND SILVER UP 22 CENTS/EXTREMELY POOR JOBS REPORT INITIALLY SENDS DOLLAR SINKING

by Harvey Organ, Harvey Organ Blog:

ECB IN NO HURRY TO END QE AND THAT SENDS THE EURO DOWN AND THE DOLLAR UP/HURRICANE HARVEY SENDS OIL DEMAND DOWN AS WELL AS CURTAIL SUPPLY WITH LOWER DEMAND OUTSTRIPPING LOWER SUPPLY/HURRICANE HARVEY CAUSES HUGE DAMAGE TO THE CHEMICAL INDUSTRY WITH ETHYLENE PRODUCTION CURTAILED/NEW HURRICANE IRMA WITH A POSSIBLE CATEGORY 5 LEVEL IS BARRELING TOWARDS THE USA EASTERN COAST.

September 1, 2017 · by harveyorgan · in Uncategorized · 1 Comment 

GOLD: $1325.50 UP   $8.65

Silver: $17.73  UP 22 CENT(S)

Closing access prices:

Gold $1325.50

silver: $17.71

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: $1323.35 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1319.70

PREMIUM FIRST FIX:  $3.65

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SECOND SHANGHAI GOLD FIX: $1324.95

NY GOLD PRICE AT THE EXACT SAME TIME: $1320.15

Premium of Shanghai 2nd fix/NY:$4.80

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LONDON FIRST GOLD FIX:  5:30 am est  $1318.40

NY PRICING AT THE EXACT SAME TIME: $1318.15

LONDON SECOND GOLD FIX  10 AM: $1320.40

NY PRICING AT THE EXACT SAME TIME. 1319.15

For comex gold:

SEPTEMBER/

NOTICES FILINGS TODAY FOR SEPT CONTRACT MONTH: 9 NOTICE(S) FOR  900  OZ.

TOTAL NOTICES SO FAR: 49 FOR 4900 OZ  (0.1524 TONNES)

For silver:

SEPTEMBER

 

 364 NOTICES FILED TODAY FOR

 

1,820,000  OZ/

Total number of notices filed so far this month: 2545 for 12,725,000 oz

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I wrote this yesterday:

“Tomorrow is the dreaded non farm payrolls. This report is fabricated to the highest degree. However if the report is bad even with the fake numbers, gold/silver will be off to the races.”

I guess I got this one right!

the bankers are trapped with their mega shorts and they will now look for divine intervention over this long weekend hoping a miracle will extricate them from their mess..

Let us have a look at the data for today

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In silver, the total open interest ROSE BY AN SMALL BUT STEADY 554 contracts from 178,343 UP TO 178,897 WITH THE SMALL GAIN IN PRICE THAT SILVER UNDERTOOK WITH  YESTERDAY’S TRADING (UP 7 CENTS). WE NOW HAVE SOME NEWBIE LONGS ENTER THE SILVER CASINO WITH NO SILVER LONGS EXITING FOR EFP’S. THE BANKERS ARE STILL LOATHE TO SUPPLY THE SHORT PAPER

RESULT: A SMALL RISE IN OI COMEX  WITH THE 7 CENT PRICE RISE. 

 In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e.  0.894 BILLION TO BE EXACT or 128% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 364 NOTICE(S) FOR 1,820,000OZ OF SILVER

In gold, the open interest ROSE BY A MONSTROUS 15,279 CONTRACTS WITH THE RISE  in price of gold ($8.35 GAIN YESTERDAY). The new OI for the gold complex rests at 550,171.

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 IS STILL AMPLE FUEL FOR ANOTHER  HUGE RISE IN THE NUMBER OF  NEWBIE SPECS  ENTERING THE GOLD ARENA WITH THE COMMERCIALS SUPPLYING THE NECESSARY PAPER LIKE DRUNKEN SAILORS. ONCE YESTERDAY’S FLASH CRASH WAS A COMPLETE FAILURE AS 1300 DOLLAR GOLD HELD BEAUTIFULLY, MORE NEWBIE LONGS CAME EMBOLDENED CONTINUING THEIR QUEST OF TAKING ON THE BANKERS WHO RECIPROCATED IN KIND WITH  SHORT PAPER.

Result: A MONSTROUS SIZED GAIN IN OI WITH THE RISE IN PRICE IN GOLD COUPLED WITH A FAILED FLASH CRASH RAID ON THURSDAY 

we had: 9 notice(s) filed upon for 900 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:

Inventory rests tonight: 816.43 tonnes

IN THE LAST 35 TRADING DAYS: GLD SHEDS 20.54 TONNES YET GOLD IS HIGHER BY $92.25 .

SLV

Today:  STRANGE!! WE HAD A HUGE CHANGE IN SILVER INVENTORY TONIGHT: A WITHDRAWAL OF 2.019 MILLION OZ

INVENTORY RESTS AT 331.178 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 A SMALLISH 554 contracts from 178,343 UP TO 178,897 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH YESTERDAY’S 7 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 COMPLETE FAILURE OF ANOTHER FLASH CRASH AS SILVER HELD ITS FORMER RESISTANCE LEVEL AND NOW NEW SUPPORT LEVEL OF $17.25. NEWBIE LONGS ENTERED THE ARENA WHEN THEY SAW ANOTHER FAILED RAID ATTEMPT. HOWEVER IN TOTAL CONTRAST TO GOLD, THE BANKERS REFUSE TO SUPPLY THE SHORT PAPER AND IN FACT ARE DESPERATELY TRYING TO COVER.   SOME NEWBIE LONGS EXITED AT THE HIGHER PRICE. HOWEVER DEMAND FOR SILVER IS STILL QUITE STRONG AND YOU CAN SEE THAT FOR YOURSELF AS AGAIN THE AMOUNT STANDING FOR SILVER IN THE MONTH OF SEPTEMBER INCREASED.  WE HAVE BEEN WITNESSING THIS PHENOMENA FOR THE PAST 5 MONTHS.

RESULT:  A  HIGHER OI AT THE COMEX WITH THE INCREASE IN PRICE OF 7 CENTS.  BANKERS REFUSE TO SUPPLY THE SHORT PAPER AND ARE TRYING TO GET OUT OF THEIR SHORTFALL 

(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 6.31 POINTS OR 0.19%   / /Hang Sang CLOSED DOWN 17.14 POINTS OR 0.06%/ The Nikkei closed UP 45.23 POINTS OR 0.23%/Australia’s all ordinaires CLOSED UP 0.17%/Chinese yuan (ONSHORE) closed UP at 6.5620/Oil UP to 46.74 dollars per barrel for WTI and 52.52 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN. Offshore yuan trades  6.5650 yuan to the dollar vs 6.5620 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  WEAKER DOLLAR. CHINA IS HAPPY TODAY