SMALL FLASH CRASH KNOCKS GOLD DOWN $4.90 TO $1334.14 AND SILVER DOWN ONE CENT TO $17.86

by Harvey Organ, Harvey Organ Blog:

USA TELLS UN ITS 5 WISHES TO CURTAIL KIM OF WHICH BOTH RUSSIAN AND CHINA DISAGREE WITH THOSE SANCTIONS/IRMA FLATTENS ST MARTAAN AND NOW IS HEADING STRAIGHT FOR MIAMI/LOOKS LIKE THE DEBT CEILING DEBACLE HAS BEEN PUT OFF FOR ANOTHER 3 MONTHS SO AS TO FUND HARVEY

GOLD: $1334.15 DOWN   $4.90

Silver: $17.86  DOWN 1 CENT(S)

Closing access prices:

Gold $1334.20

silver: $17.88

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: $1342.93 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1339.90

PREMIUM FIRST FIX:  $3.03

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SECOND SHANGHAI GOLD FIX: $1344.02

NY GOLD PRICE AT THE EXACT SAME TIME: $1338.00

Premium of Shanghai 2nd fix/NY:$6.02

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LONDON FIRST GOLD FIX:  5:30 am est  $1340.15

NY PRICING AT THE EXACT SAME TIME: $1339.90

LONDON SECOND GOLD FIX  10 AM: $1337.85

NY PRICING AT THE EXACT SAME TIME. 1338.85 ???

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

 

 160 NOTICES FILED TODAY FOR

 

800,000  OZ/

Total number of notices filed so far this month: 3,078 for 15,390,000 oz

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Today we had a mini flash crash that took gold down initially to $1331.00.  This happened as soon as London was put to bed and thus we were strictly in the paper markets.  Gold then rebounded a bit but in the end it was down almost $5.00.  Silver ended the session down only 1 cent.As soon as we hit the physical time zones, gold will rebound form where it left off yesterday. It looks like the USA will get a 3 month reprieve on its debt ceiling.  They needed funding for Harvey and did not wish to complicate things.

Let us have a look at the data for today

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In silver, the total open interest ROSE BY A CONSIDERABLE  3581 contracts from 178,897 UP TO 183,276 WITH THE GOOD SIZED GAIN IN PRICE THAT SILVER UNDERTOOK YESTERDAY’S TRADING (UP 14 CENTS). WE NOW HAVE MORE NEWBIE LONGS ENTER THE SILVER CASINO WITH NO SILVER LONGS EXITING FOR EFP’S. THE BANKERS HAD NO CHOICE BUT TO SUPPLY THE SHORT PAPER IN TOTAL SYMPATHY WITH 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.  0.916 BILLION TO BE EXACT or 130% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 160 NOTICE(S) FOR 800,000OZ OF SILVER

In gold, the open interest ROSE BY A MONSTROUS 11,274 CONTRACTS WITH THE RISE  in price of gold ($13.45 GAIN YESTERDAY). The new OI for the gold complex rests at 566,817.

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. THE NORTH KOREAN SITUATION CERTAINLY  ENCOURAGED  MORE NEWBIE LONGS TO  BECOME 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 ($13.45). THE COMMERCIALS SUPPLIED THE NECESSARY SHORT PAPER. MORE NEWBIE LONGS ENTERED THE COMEX CASINO WILLING TO TAKE ON THE BANKERS

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 another huge  changes in gold inventory: a huge deposit of 5.91 tonnes

Inventory rests tonight: 837.12 tonnes

it the last two days: 20.69 tonnes

IN THE LAST 37 TRADING DAYS: GLD ADDS 9.02 TONNES YET GOLD IS HIGHER BY $100.75 .

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 3,581 contracts from 178,897 UP TO 183,276 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH YESTERDAY’S 14 CENT GAIN IN TRADING. SILVER RESPONDED LIKE GOLD TO THE ECONOMIC CLIMATE (E.G NORTH KOREA’S ATOMIC BLAST.) AS  NEWBIE LONGS PILED INTO THE SILVER ARENA. THE BANKERS HAD NO CHOICE BUT TO SUPPLY THE NECESSARY SHORT PAPER.

RESULT:  A  HIGHER OI AT THE COMEX WITH THE INCREASE IN PRICE OF 14 CENTS.  BANKERS SUPPLIED THE NECESSARY  SHORT PAPER.  

(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 1.07 POINTS OR 0.03%   / /Hang Sang CLOSED DOWN 127.59 POINTS OR 0.46%/ The Nikkei closed DOWN 27.83 POINTS OR 0.14%/Australia’s all ordinaires CLOSED DOWN 0.26%/Chinese yuan (ONSHORE) closed UP at 6.5250/Oil UP to 48.83 dollars per barrel for WTI and 53.81 for Brent. Stocks in Europe OPENED RED. Offshore yuan trades  6.5374 yuan to the dollar vs 6.5250 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