GOLD AND SILVER BOTH STYMIE EFFORTS BY THE BANKERS ON THEIR MINI RAID YESTERDAY: GOLD RISES BY $4.35 AND SILVER FINALLY BREAKS ABOVE $18.00 TO CLOSE AT $18.04 UP 18 CENTS

by Harvey Organ, Harvey Organ Blog:

DRAGHI SENDS CONFLICTING SIGNALS AND THAT CAUSES THE EURO TO SKYROCKET (AND THE DOLLAR TO SINK)/HURRICANE IRMA HAMMERS BARBUDA WITH 90% OF THE ISLAND DESTROYED/IRMA HEADING STRAIGHT FOR MIAMI AND IT IS STILL A CAT 5/SENATE PASSES THE SUSPENSION OF THE DEBT CEILING FOR 6 MONTHS/NOW UP TO THE HOUSE/MANY REPUBLICANS FURIOUS/SUSPENSION OF DEBT CEILING IS GOOD FOR GOLD AS THEY ARE FREELY SPENDING/

GOLD: $1345.50 UP   $4.35

Silver: $18.04  UP 18 CENT(S)

Closing access prices:

Gold $1349.50

silver: $18.12

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: $1339.47 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1334.25

PREMIUM FIRST FIX:  $5.22

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

SECOND SHANGHAI GOLD FIX: $1347.91

NY GOLD PRICE AT THE EXACT SAME TIME: $1335.00

Premium of Shanghai 2nd fix/NY:$12.91

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

LONDON FIRST GOLD FIX:  5:30 am est  $1340.45

NY PRICING AT THE EXACT SAME TIME: $1339.60

LONDON SECOND GOLD FIX  10 AM: $1343.50

NY PRICING AT THE EXACT SAME TIME. 1343.20

For comex gold:

SEPTEMBER/

NOTICES FILINGS TODAY FOR SEPT CONTRACT MONTH: 2 NOTICE(S) FOR  200  OZ.

TOTAL NOTICES SO FAR: 51 FOR 5100 OZ  (0.1586 TONNES)

For silver:

SEPTEMBER

 

 440 NOTICES FILED TODAY FOR

 

2,200,000  OZ/

Total number of notices filed so far this month: 3,518 for 17,590,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

 

end

 

 As I indicated to you yesterday, the mini flash crash would fail as gold/silver would rebound to positive territory as soon as the physical time zones for our precious metals would arrive  (2 15 am est  China and 4 am London). The demand for physical metals is intense and is overpowering the paper shorts.  Actually you can visualize that for yourself by witnessing how the amount of silver standing  (physical demand) is increasing every single day at the silver comex.

Let us have a look at the data for today

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

In silver, the total open interest ROSE BY STEADY 866 contracts from  183,276 UP TO 184,142 WITH THE SMALL SIZED LOSS IN PRICE THAT SILVER UNDERTOOK IN YESTERDAY’S TRADING (DOWN 1 CENT(S). 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 PAPER SHORT.  SILVER TRIED TO PIERCE 18 DOLLARS AND WAS REBUFFED BUT NOT TODAY AS IT BLEW THROUGH THIS RESISTANCE IN FLYING COLOURS. 

RESULT: A FAIR RISE IN OI COMEX  WITH THE 1 CENT PRICE FALL. 

 In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e.  0.920 BILLION TO BE EXACT or 132% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 440 NOTICE(S) FOR 2,200,000OZ OF SILVER

In gold, the open interest FELL BY A TINY 499 CONTRACTS DESPITE THE FAIR SIZED FALL  in price of gold ($4.90 GAIN YESTERDAY). The new OI for the gold complex rests at 566,318.

AGAIN,THE NUMBER OF  NEWBIE SPECS  ENTERING THE GOLD ARENA INCREASES WITH THE COMMERCIALS AGAIN SUPPLYING THE NECESSARY PAPER. THE MINI FLASH CRASH NO DOUBT CAUSED SOME SPECS TO EXIT BUT THE NET CHANGE WAS SMALL. THE BANKERS DID NOT GET THEIR WISH OF A MUCH HIGHER OPEN INTEREST DROP IN GOLD.

Result: A SMALL SIZED LOSS IN OI WITH THE FALL IN PRICE IN GOLD ($4.90). THE COMMERCIALS SUPPLIED THE NECESSARY SHORT PAPER. MORE NEWBIE LONGS ENTERED THE COMEX CASINO WILLING TO TAKE ON THE BANKERS BUT WERE RELIEVED OF THEIR LONGS (THOSE THAT HAD STOP LOSSES) WITH THE MINI FLASH CRASH ORCHESTRATED BY THE BANKERS. GOLD SPECS POURED ON THE JUICE THIS MORNING ONCE THEY SAW SILVER BREAK LOOSE FROM THE 18.00 BARRIER)

we had: 2 notice(s) filed upon for 200 oz of gold.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

GLD:

Tonight , we had no  changes in gold inventory:

Inventory rests tonight: 837.12 tonnes

 

SLV

Today: VERY STRANGE!! WE HAD A HUGE CHANGE IN SILVER INVENTORY TONIGHT: A WITHDRAWAL OF 945,000 OZ

WITH SILVER UP 18 CENTS TODAY AND OVER 50 CENTS THESE PAST FEW DAYS, THIS MAKES ABSOLUTELY NO SENSE!

WITHOUT A DOUBT, CRIMINAL ACTIVITY BY THE BANKERS BORROWING PAPER SILVER IN AN ATTEMPT TO CONTAIN SILVER.

INVENTORY RESTS AT 327.088 MILLION OZ

 

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 866 contracts from 183,276UP TO 184,142(AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH YESTERDAY’S 1 CENT LOSS IN TRADING. SILVER RESPONDED LIKE GOLD TO THE ECONOMIC CLIMATE (E.G NORTH KOREA’S ATOMIC BLAST/HURRICANE HARVEY/HURRICANE IRMA.) AS NEWBIE LONGS PILED INTO THE SILVER ARENA. THE BANKERS HAD NO CHOICE BUT TO SUPPLY THE NECESSARY SHORT PAPER. THE MINI CRASH DID NOT CAUSE ANY OF OUR SILVER LONGS TO VACATE THE ARENA. SILVER BROKE THROUGH THE HUGE 18.00 RESISTANCE AND WILL NOW SET THEIR EYES ON THE BIGGY: $18.50 SILVER.

RESULT:  A  HIGHER OI AT THE COMEX WITH THE FALL IN PRICE OF 1 CENT.  BANKERS SUPPLIED THE NECESSARY  SHORT PAPER AND WERE NOT HAPPY CAMPERS WITH THE FAILED RAID. SILVER BROKE THROUGH THE TINY 18.00 DOLLAR RESISTANCE. 

(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 19.89 POINTS OR 0.59%   / /Hang Sang CLOSED DOWN 90.84 POINTS OR 0.33%/ The Nikkei closed UP 38.55 POINTS OR 0.20%/Australia’s all ordinaires CLOSED UP 0.02%/Chinese yuan (ONSHORE) closed UP at 6.4920/Oil UP to 49.05 dollars per barrel for WTI and 54.43 for Brent. Stocks in Europe OPENED GREEN. Offshore yuan trades  6.4972 yuan to the dollar vs 6.4920 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 VERY HAPPY TODAY