GOLD AND SILVER HOLD: GOLD UP 15 CENTS AND SILVER UP 10 CENTS

by Harvey Organ, Harvey Organ Blog:

GLD INVENTORY ADVANCES ANOTHER 2.07 TONNES/GIANT EARTHQUAKE HITS CLOSE TO MEXICO CITY/HURRICANE MARIE, A CAT 4 IS HEADING STRAIGHT FOR PUERTO RICO

GOLD: $1307.50 UP   $0.15

Silver: $17.24  UP 10 CENT(S)

Closing access prices:

Gold $1311.00

silver: $17.30

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: $1313.30 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1307.00

PREMIUM FIRST FIX:  $6.30

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

SECOND SHANGHAI GOLD FIX: $1315.17

NY GOLD PRICE AT THE EXACT SAME TIME: $1308.60

Premium of Shanghai 2nd fix/NY:$6.57

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

LONDON FIRST GOLD FIX:  5:30 am est  $1308.45

NY PRICING AT THE EXACT SAME TIME: $1308.70

LONDON SECOND GOLD FIX  10 AM: $1309.60

NY PRICING AT THE EXACT SAME TIME. 1310.30

For comex gold:

SEPTEMBER/

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

TOTAL NOTICES SO FAR: 54 FOR 5400 OZ  (0.1679 TONNES)

For silver:

SEPTEMBER

 

 133 NOTICES FILED TODAY FOR

 

665,000  OZ/

Total number of notices filed so far this month: 5,810 for 29,050,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

 

end

take a look at the GLD..it rose by  another 2.07 tonnes today and for the entire week that we have had constant raids, the GLD advanced by 11.53 tonnes!!!  Generally when we see continual the GLD inventory rise, the trend is for upward gold prices.

Let us have a look at the data for today

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

In silver, the total open interest SURPRISINGLY ROSE BY  694 contracts from  192,765 UP TO 193,459 DESPITE THE NASTY  DROP IN PRICE THAT SILVER UNDERTOOK IN YESTERDAY’S TRADING (DOWN 50 CENTS ). WE HAVE NOW HAD SEVEN CONSECUTIVE TRADING DAYS OF TORMENT AND YET THE SILVER OPEN INTEREST REFUSES TO BUDGE SOUTHBOUND AND YET AGAIN TODAY IT ADVANCES NORTHBOUND.  THE LONGS ARE REMAINING STOIC AND REFUSE TO GIVE IN TO THE ANTICS OF THE BANKERS. NEWBIE SPECS ARE COGNIZANT OF SILVER SCARCITY (AND DEMAND) AS THE PILE INTO THE SILVER ARENA. THE BANKERS SEEM TRAPPED IN THE OWN JUICE…THEY ARE DESPERATELY TRYING TO FORCE SOME OF THE SILVER LEAVES TO FALL FROM THE SILVER TREE BUT SO FAR TO NO AVAIL WHICH IS WHY YESTERDAY THE BOYS DECIDED THAT ANOTHER RAID WAS NECESSARY. AS YOU CAN SEE IT AGAIN ENDED IN FAILURE.

RESULT: A STEADY RISE IN OI COMEX  DESPITE THE 50 CENT PRICE LOSS. BANKERS FAILED IN THEIR ATTEMPT TO CAUSE SILVER LEAVES (oi) TO FALL.ANOTHER RAID ATTEMPT WAS CALLED UPON  TO FORCE OI CONTRACTION AND AGAIN IT FAILED MISERABLY.

 In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e.  0.96750 BILLION TO BE EXACT or 138% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 133 NOTICE(S) FOR 655,000OZ OF SILVER

In gold, the open interest FELL BY A SMALLER THAN ANTICIPATED 2472 CONTRACTS DESPITE THE  FALL  in price of gold ($14.05 LOSS ON YESTERDAY).  The new OI for the gold complex rests at 571,011. THE BANKERS ORCHESTRATED ANOTHER RAID YESTERDAY MORNING WORRIED ABOUT THE STEADY OI RISE IN SILVER AND THE HIGH OI IN GOLD. THEY CONTINUALLY FAIL MISERABLY IN SILVER AND  SURPRISINGLY THEY FAILED IN GOLD AS WELL. 

Result: A SMALL DECREASE IN OI DESPITE THE  FALL IN PRICE IN GOLD ($14.05). THE COMMERCIALS SUPPLIED THE NECESSARY SHORT PAPER. YESTERDAY’S RAID HAD THE PURPOSE OF TRYING TO KNOCK SILVER DOWN AS WELL AS CAUSE MAJOR DISCOMFORT FOR OUR GOLD LONGS. IT ENDED IT FAILURE AS  OPEN INTEREST IN SILVER ROSE ALONG WITH A TINY DROP IN GOLD OI. 

we had: 0 notice(s) filed upon for nil oz of gold.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

GLD:

Tonight , we had  another huge change in gold inventory:

a good sized 2.07 tonnes of gold deposit

Inventory rests tonight: 846.03 tonnes

This is a good sign:  we have had now continual gold deposits at the GLD this past month.  Gold should continue to rise

 

SLV

Today: a huge change in inventory. a withdrawal of 1.039 million oz

INVENTORY RESTS AT 326.049 MILLION OZ

From Sept 12 until today, we have only lost 1.039 million oz i.e. what we lost today.  The other 5 days we lost zero.

 

end

.

First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver ROSE BY A STEADY 694 contracts from 192,765  UP TO 193,459(AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE YESTERDAY’S 50 CENT LOSS IN TRADING. OUR LONGS CONTINUE TO BE STRONG AND REFUSE TO BUDGE WITH THE ANTICS OF OUR BANKERS. NEWBIE LONGS CONTINUE TO ENTER THE ARENA COGNIZANT OF SILVER SCARCITY AND DEMAND. BANKERS ORCHESTRATED ANOTHER RAID YESTERDAY  TRYING TO FORCE SILVER OI TO CONTRACT. IT AGAIN FAILED MISERABLY

RESULT:  A  STEADY RISE IN OI  AT THE COMEX  DESPITE THE FALL IN PRICE OF 50 CENTS YESTERDAY. WE HAD ANOTHER RAID YESTERDAY MORNING BY OUR BANKERS TRYING TO FORCE SILVER LONGS TO DEPART THE SILVER TREE.  THEY FAILED MISERABLY!!  

(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 DOWN 6.02 POINTS OR 0.18%   / /Hang Sang CLOSED DOWN 108.36 POINTS OR 0.38%/ The Nikkei closed UP 389.88 POINTS OR 1.06%/Australia’s all ordinaires CLOSED DOWN 0.11%/Chinese yuan (ONSHORE) closed WELL DOWN at 6.5846/Oil UP to 50.36 dollars per barrel for WTI and 55.69 for Brent. Stocks in Europe OPENED MIXED LEANING TO RED . Offshore yuan trades  6.5867 yuan to the dollar vs 6.5846 for onshore yuan. NOW THE OFFSHORE MOVED A LITTLE WEAKER  TO THE ONSHORE YUAN/ ONSHORE YUAN MUCH WEAKER (TO THE DOLLAR)  AND THE OFFSHORE YUAN IS A MUCH WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE SLIGHTLY  WEAKER DOLLAR. CHINA IS NOT  HAPPY TODAY

Read More @ HarveyOrganBlog.com