CHINA TO START A PETRO-YUAN BACKED BY GOLD

by Harvey Organ, Harvey Organ Blog:

NORTH KOREA FIRES A HYDROGEN BOMB TEST/GOLD RISES TO $1339.65 FOR A GAIN OF $13.45 AND SILVER GAINS 14 CENTS UP TO $17.87/HURRICANE IRMA WILL BE A CATEGORY 5 STORM AND IT IS HEADING STRAIGHT FOR MIAMI

”It is difficult to talk to people who confuse Austria and Australia. But there is nothing we can do about this; this is the level of political culture among part of the American establishment. As for the American people, America is truly a great nation if the Americans can put up with so many politically uncivilized people.”

Vladimir Putin

GOLD: $1339.05 UP   $13.45

Silver: $17.87  UP 14 CENT(S)

Closing access prices:

Gold $1339.90

silver: $17.90

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: $1339.89 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1336.42

PREMIUM FIRST FIX:  $3.47

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SECOND SHANGHAI GOLD FIX: $1336.64

NY GOLD PRICE AT THE EXACT SAME TIME: $1335.50

Premium of Shanghai 2nd fix/NY:$1.14

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LONDON FIRST GOLD FIX:  5:30 am est  $1331.15

NY PRICING AT THE EXACT SAME TIME: $1331.50

LONDON SECOND GOLD FIX  10 AM: $1335.55

NY PRICING AT THE EXACT SAME TIME. 1334.30 ???

For comex gold:

SEPTEMBER/

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

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

For silver:

SEPTEMBER

 

 373 NOTICES FILED TODAY FOR

 

1,865,000  OZ/

Total number of notices filed so far this month: 2918 for 14,590,000 oz

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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 798 contracts from 178,897 UP TO 179,695 WITH THE GOOD SIZED GAIN IN PRICE THAT SILVER UNDERTOOK WITH  FRIDAY’S TRADING (UP 22 CENTS). WE NOW HAVE MORE NEWBIE LONGS ENTER THE SILVER CASINO WITH NO SILVER LONGS EXITING FOR EFP’S. THE BANKERS ARE STILL LOATHE TO SUPPLY THE SHORT PAPER IN TOTAL CONTRAST TO GOLD

RESULT: A SMALL RISE IN OI COMEX  WITH THE 22 CENT PRICE RISE. 

 In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e.  0.898 BILLION TO BE EXACT or 128% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 373 NOTICE(S) FOR 1,865,000OZ OF SILVER

In gold, the open interest ROSE BY A GOOD SIZED 5372 CONTRACTS WITH THE RISE  in price of gold ($8.65 GAIN YESTERDAY). The new OI for the gold complex rests at 555,543.

CONDITIONS ARE RIPE AND AMPLE FUEL FOR ANOTHER  HUGE RISE IN THE NUMBER OF  NEWBIE SPECS  ENTERING THE GOLD ARENA WITH THE COMMERCIALS AGAIN SUPPLYING THE NECESSARY PAPER.  AS SOON AS FRIDAY’S JOB REPORT WAS ANNOUNCED AS A DUD, THIS ENCOURAGED  MORE NEWBIE LONGS WHO BECAME EMBOLDENED IN THEIR CONTINUING QUEST OF TAKING ON THE BANKERS WHO RECIPROCATED IN KIND WITH  SHORT PAPER.

Result: A HUGE SIZED GAIN IN OI WITH THE RISE IN PRICE IN GOLD ($8.65). THE COMMERCIALS SUPPLIED THE NECESSARY SHORT PAPER. 

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 a huge  changes in gold inventory: a massive deposit of 14.78 tonnes

Inventory rests tonight: 831.21 tonnes

IN THE LAST 36 TRADING DAYS: GLD SHEDS 5.76 TONNES YET GOLD IS HIGHER BY $105.70 .

SLV

Today:  WE HAD NO CHANGES IN SILVER INVENTORY TONIGHT:

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 STEADY 798 contracts from 178,897 UP TO 179,695 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH FRIDAY’S 22 CENT GAIN IN TRADING. SILVER RESPONDED LIKE GOLD TO THE ECONOMIC CLIMATE.  NEWBIE LONGS TOOK COMFORT IN THE POOR JOBS REPORT TO PILE INTO THE SILVER ARENA. THE BANKERS HOWEVER ARE STILL LOATHE TO SUPPLY THE NECESSARY SHORT PAPER. OLDER SPECS EXITED WITH A NICE PROFIT .

RESULT:  A  HIGHER OI AT THE COMEX WITH THE INCREASE IN PRICE OF 22 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 MONDAY night/TUESDAY morning: Shanghai closed UP 4.73 POINTS OR 0.14%   / /Hang Sang CLOSED UP 1.09 POINTS OR 0.01%/ The Nikkei closed DOWN 122.44 POINTS OR 0.63%/Australia’s all ordinaires CLOSED UP 0.07%/Chinese yuan (ONSHORE) closed UP at 6.5490/Oil UP to 47.90 dollars per barrel for WTI and 52.59 for Brent. Stocks in Europe OPENED MIXED/ TO GREEN. Offshore yuan trades  6.5540 yuan to the dollar vs 6.5490 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

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