USA YIELD CURVE FLATTENS INDICATING RECESSION: GOES AGAINST THE WISHES OF THE FED

by Harvey Organ, Harvey Organ Blog:

GOLD AND SILVER RAID CONTINUES BY OUR BANKERS WITH GOLD DOWN $19.95 AND SILVER DOWN 29 CENTS/HUGE SANCTIONS AGAINST NORTH KOREA: NO FINANCIAL INSTITUTION CAN DO ANY BUSINESS WITH NORTH KOREA OR ELSE THEY FACE SANCTIONS

GOLD: $12.92.75 DOWN   $19.95

Silver: $17.00  DOWN 29 CENT(S)

Closing access prices:

Gold $1291.60

silver: $16.97

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: $1303.97 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1299.20

PREMIUM FIRST FIX:  $4.77

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SECOND SHANGHAI GOLD FIX: $1302.97

NY GOLD PRICE AT THE EXACT SAME TIME: $1298.20

Premium of Shanghai 2nd fix/NY:$4.77

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LONDON FIRST GOLD FIX:  5:30 am est  $1297.35

NY PRICING AT THE EXACT SAME TIME: $12.96.08

LONDON SECOND GOLD FIX  10 AM: $1291.80

NY PRICING AT THE EXACT SAME TIME. 1291.80

For comex gold:

SEPTEMBER/

NOTICES FILINGS TODAY FOR SEPT CONTRACT MONTH: 29 NOTICE(S) FOR  2900  OZ.

TOTAL NOTICES SO FAR: 83 FOR 8300 OZ  (0.2581 TONNES)

For silver:

SEPTEMBER

 

 225 NOTICES FILED TODAY FOR

 

1,125,000  OZ/

Total number of notices filed so far this month: 6,106 for 30,530,000 oz

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As I mentioned yesterday:

“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.”

 Obviously this is a policy error by the Fed and this should cause continual currency fluctuations as we go forward in time. The open interest readings of today are not much help..I need to see tonight’s reading of today’s trading to see how many gold/silver leaves were liquefied with the raid today.

Let us have a look at the data for today

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In silver, the total open interest FELL SLIGHTLY BY 743 contracts from  192,994 DOWN TO 192,251 WITH THE SMALL RISE IN PRICE THAT SILVER UNDERTOOK IN YESTERDAY’S TRADING (UP 5 CENTS ). DURING THE REGULAR COMEX TRADING WE HAD A LITTLE REPRIEVE FROM THE CONSTANT TORMENT OVER THE PAST 8 DAYS BUT THAT QUICKLY ENDED WITH THE HAWKISH FED ANNOUNCEMENT OF BALANCE SHEET RUN-OFF AND A MOST LIKELY RATE HIKE IN DECEMBER. BANKERS STILL RELUCTANT TO SUPPLY THE NECESSARY PAPER.

RESULT: A SMALL FALL IN OI COMEX  DESPITE THE 5 CENT PRICE RISE.  WE WILL NEED TO SEE WHAT HAPPENS TO OPEN INTEREST TOMORROW AS THE BIG DROP IN SILVER OCCURRED IN THE ACCESS MARKET AFTER THE COMEX CLOSED

 In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e.  0.9610 BILLION TO BE EXACT or 137% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 225 NOTICE(S) FOR 1,125,000OZ OF SILVER

In gold, the open interest ROSE BY A CONSIDERABLE 4598 CONTRACTS WITH THE  RISE  in price of gold ($5.25 GAIN WITH YESTERDAY’S COMEX TRADING/ GOLD DROPPED BADLY IN THE ACCESS MARKET TRADING).  The new OI for the gold complex rests at 574,694. AFTER 8 CONSECUTIVE TRADING DAYS WE HAD A SLIGHT  REPRIEVE FROM CONSTANT TORMENT. OUR BANKER FRIENDS DECIDED TO LET GOLD/SILVER RISE DURING REGULAR COMEX TRADING.  HOWEVER THEY ATTACKED WITH RECKLESS ABANDON IN ACCESS TRADING. WE WILL NEED TO SEE HOW BADLY THE GOLD LEAVES FELL WITH TOMORROW’S READING.

Result: A SMALL DECREASE IN OI WITH THE  TINY RISE IN PRICE IN GOLD ($5.25). 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: 29 notice(s) filed upon for 2900 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 743 contracts from 192,994  DOWN TO 192,251 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE YESTERDAY’S 5 CENT GAIN IN TRADING.AFTER 8 CONSECUTIVE TRADING DAYS OF TORMENT, OUR BANKERS FOR A VERY SMALL TIME FRAME, REMOVED THEIR FOOT FROM THE THROAT OF BOTH GOLD AND SILVER. THEY DECIDED FOR A BRIEF MOMENT TO LET OUR PRECIOUS METALS SEEK HIGHER GROUND BEFORE THEY ATTACKED AGAIN IN YESTERDAY’S ACCESS MARKET ONCE THEY RELEASED THE FOMC STATEMENT WHICH WAS WIDELY EXPECTED AND BUILT INTO ALL MARKETS. THEY ARE CONTINUING WITH THEIR TORMENT TODAY, THE 9TH STRAIGHT DAY OF TORMENT.

RESULT:  A SMALL SIZED DROP IN SILVER OI  AT THE COMEX DESPITE THE TINY GAIN IN PRICE OF 5 CENTS IN YESTERDAY’S TRADING. BANKERS ALLOW FOR A  RETREAT TO HIGHER GROUND WAITING IN THE WINGS TO ATTACK ONCE FOMC DECISION AT 2 PM EST…THE ATTACK WAS PERFECTLY PREORDAINED..

(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 WEDNESDAY night/THURSDAY morning: Shanghai closed DOWN 8.18 POINTS OR 0.24%   / /Hang Sang CLOSED DOWN 17.47 POINTS OR 0.06%/ The Nikkei closed UP 37.02 POINTS OR 0.18%/Australia’s all ordinaires CLOSED DOWN 0.92%/Chinese yuan (ONSHORE) closed WELL DOWN at 6.5919/Oil UP to 50.15 dollars per barrel for WTI and 55.87 for Brent. Stocks in Europe OPENED ALL GREEN . Offshore yuan trades  6.5887 yuan to the dollar vs 6.5919 for onshore yuan. NOW THE OFFSHORE MOVED A LITTLE STRONGER  TO THE ONSHORE YUAN/ ONSHORE YUAN MUCH WEAKER (TO THE DOLLAR)  AND THE OFFSHORE YUAN IS ALSO MUCH WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE SLIGHTLY STRONGER DOLLAR. CHINA IS NOT  HAPPY TODAY

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