BANKERS SET UP ANOTHER GOLD AND SILVER RAID ON THE CLOWNS FOMC BALANCE RUNOF

by Harvey Organ, Harvey Organ Blog:

YIELD CURVE FLATTENS WITH THE FOMC ANNOUNCEMENT INDICATING FED FAILING POLICY/DEVASTATION IN BOTH MEXICO AND PUERTO RICO/SPANISH OFFICIALS ARREST CATALAN OFFICIALS AHEAD OF THE INDEPENDENCE VOTE/VENEZUELA IN TECHNICAL DEFAULT AS IT MISSES SEPT 15 PAYMENT: THEY NOW HAVE 30 DAYS GRACE PERIOD/ANOTHER PRIVATE RUSSIAN BANK FAILS DUE TO BANK RUN AND THE BANK OF RUSSIA BAILS OUT THE BANK

GOLD: $1312.75 UP   $5.25

Silver: $17.29  UP 5 CENT(S)

Closing access prices:

Gold $1300.00

silver: $17.15

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: $1316.24 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1312.70

PREMIUM FIRST FIX:  $3.54

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SECOND SHANGHAI GOLD FIX: $1318.43

NY GOLD PRICE AT THE EXACT SAME TIME: $1313.85

Premium of Shanghai 2nd fix/NY:$4.58

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LONDON FIRST GOLD FIX:  5:30 am est  $1314.90

NY PRICING AT THE EXACT SAME TIME: $1315.20

LONDON SECOND GOLD FIX  10 AM: $1311.30

NY PRICING AT THE EXACT SAME TIME. 1311.80

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

 

 71 NOTICES FILED TODAY FOR

 

355,000  OZ/

Total number of notices filed so far this month: 5,881 for 29,405,000 oz

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Another planned raid by the crooks to coincide with the release of the FOMC balance sheet run off. The Fed did not anticipate that the yield curve would flatten:  the banks wanted the yield curve to rise as we go out in time: the opposite happened.  Generally this is very bad for banks as they need to borrow short term low and lend long time.  Today the two and five yr yields rose but the 10 yr and especially the 30 yr fell in yield. The press are stating that the Fed has made a policy error.

Let us have a look at the data for today

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In silver, the total open interest FELL SLIGHTLY BY 465 contracts from  193,459 DOWN TO 192,994 WITH THE SMALL RISE IN PRICE THAT SILVER UNDERTOOK IN YESTERDAY’S TRADING (UP 10 CENTS ). FINALLY YESTERDAY WE SAW THE CONSTANT TORMENT SUBSIDE AS SILVER EKED OUT A SMALL GAIN. LONGS REMAIN RESOLUTE NOT TO PART WITH ANY THEIR SILVER LEAVES FROM THE SILVER TREE. OUR BANKER FRIENDS COULD NOT COVER ANY OF THEIR SILVER SHORTS. 

RESULT: A SMALL FALL IN OI COMEX  DESPITE THE 10 CENT PRICE RISE. BANKERS FAILED IN THEIR ATTEMPT TO CAUSE SILVER LEAVES (oi) TO FALL.

 In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e.  0.9660 BILLION TO BE EXACT or 138% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 71 NOTICE(S) FOR 355,000OZ OF SILVER

In gold, the open interest FELL BY A TINY 915 CONTRACTS DESPITE THE TINY RISE  in price of gold ($0.15 GAIN WITH YESTERDAY’S TRADING).  The new OI for the gold complex rests at 570,096. AFTER 7 CONSECUTIVE TRADING DAYS WE HAD A REPRIEVE FROM CONSTANT TORMENT. OUR BANKER FRIENDS DECIDED TO LET GOLD/SILVER RISE AND THEN WAIT FOR ANOTHER ATTACK LIKE THIS AFTERNOON’S  FOMC BALANCE SHEET RUNOFF 

Result: A SMALL DECREASE IN OI WITH THE  TINY RISE IN PRICE IN GOLD ($0.15). BANKERS RETREAT TO HIGHER GROUND LETTING GOLD/SILVER RISE.  THEY WERE WAITING IN THE WINGS TO ATTACK ON THE FOMC BALANCE SHEET RUN OFF. 

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 change in gold inventory:

 

Inventory rests tonight: 846.03 tonnes

 

SLV

Today: no changes in inventory.

INVENTORY RESTS AT 324.915 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 TINY 465 contracts from 193,459  DOWN TO 192,994 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE YESTERDAY’S 10 CENT GAIN IN TRADING.AFTER 7 CONSECUTIVE TRADING DAYS OF TORMENT, OUR BANKERS REMOVED THEIR FOOT FROM THE THROAT OF BOTH GOLD AND SILVER. THEY ARE LETTING OUR PRECIOUS METALS SEEK HIGHER GROUND BEFORE THEY ATTACK AGAIN.  THEY DID NOT WAIT LONG: THEY ATTACKED ON RELEASE OF FOMC BALANCE SHEET REDUCTION.

 

RESULT:  A TINY FALL IN OI  AT THE COMEX  DESPITE THE GAIN IN PRICE OF 10 CENTS IN YESTERDAY’S TRADING. BANKERS RETREAT FOR HIGHER GROUND WAITING IN THE WINGS TO ATTACK TO FOMC ANNOUNCEMENT.

(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 UP 9.15 POINTS OR 0.27%   / /Hang Sang CLOSED UP 76.39 POINTS OR 0.27%/ The Nikkei closed UP 11.08 POINTS OR 0.05%/Australia’s all ordinaires CLOSED DOWN 0.05%/Chinese yuan (ONSHORE) closed WELL UP at 6.5750/Oil UP to 50.08 dollars per barrel for WTI and 55.77 for Brent. Stocks in Europe OPENED MIXED LEANING TO RED . Offshore yuan trades  6.5755 yuan to the dollar vs 6.5750 for onshore yuan. NOW THE OFFSHORE MOVED A LITTLE WEAKER  TO THE ONSHORE YUAN/ ONSHORE YUAN MUCH STRONGER (TO THE DOLLAR)  AND THE OFFSHORE YUAN IS A MUCH STRONGER TO THE DOLLAR AND THIS IS COUPLED WITH THE WEAKER DOLLAR. CHINA IS  HAPPY TODAY

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