GOLD UP $13.40 TO $1328.00/SILVER DOWN 3 CENTS TO $16.57

by Harvey Organ, Harvey Organ Blog:

THE YEN RISES DRAMATICALLY AND THAT SENT GOLD/SILVER HIGHER AS IT UNWINDS YEN CARRY TRADERS/VIX REMAINS RELATIVELY HIGH AT 25.00/THE USA 10 YR BOND YIELD STILL VERY HIGH OF 2.835%/JANUARY SEES A HUGE INCREASE IN GOLD DERIVATIVES UP TO 580 TONNES/MORE SWAMP STORIES FOR YOU TONIGHT

GOLD: $1328.00 UP $3.40

Silver: $16.57 DOWN 3 cents

Closing access prices:

Gold $1329.50

silver: $16.57

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: $1324.85 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1323.60

PREMIUM FIRST FIX: $1.25

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SECOND SHANGHAI GOLD FIX: $1334.47

NY GOLD PRICE AT THE EXACT SAME TIME: $13235.40

Premium of Shanghai 2nd fix/NY:$9.07

 

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LONDON FIRST GOLD FIX: 5:30 am est $1329.40

NY PRICING AT THE EXACT SAME TIME: $1329.90

LONDON SECOND GOLD FIX 10 AM: $1325.35

NY PRICING AT THE EXACT SAME TIME. $1326.00

For comex gold:

FEBRUARY/

NUMBER OF NOTICES FILED TODAY FOR FEBRUARY CONTRACT: 0 NOTICE(S) FOR NIL OZ.

TOTAL NOTICES SO FAR:1783 FOR 178300 OZ (5.458 TONNES),

For silver:

FEBRUARY

89 NOTICE(S) FILED TODAY FOR

445,000 OZ/

Total number of notices filed so far this month: 215 for 1,075,000 oz

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Bitcoin: BID $8508/OFFER $8576: DOWN $351(morning)

Bitcoin: BID/ $8602/offer $8671: DOWN $255  (CLOSING/5 PM)

 

end

 

There are 4 tools used by the manipulators to raise stock prices while stocking down gold and silver:

 

  1. increasing the value of the USA dollar index
  2.  shorting yen  (buying usa/yen) which is your carry trade ie. buy stocks, short yen gold
  3.  hammer vix (the volatility index) which states that everything is OK. ie. short volatility and gold buy stocks
  4.  contain the 10 yr USA treasury yield below 2.80%

we are beginning to see fractures in all of them.  today it was the yen that rose and that drove gold/silver higher.

Let us have a look at the data for today\

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In silver, the total open interest FELL BY A TINY SIZED 453 contracts from 195,964  FALLING TO 195,511  DESPITE  YESTERDAY’S SOLID 40 CENT GAIN IN SILVER PRICING.  WE  HAD MINIMAL COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  1862 EFP’S FOR MARCH AND AND 0 EFP’S FOR MAY AND ZERO FOR ALL  OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 1864 CONTRACTS.  WITH THE TRANSFER OF 1862 CONTRACTS, WHAT THE CME IS STATING IS THAT THERE IS NO SILVER (OR GOLD) TO BE DELIVERED UPON AT THE COMEX AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24 HRS IN THE ISSUING OF EFP’S. THE 1862 CONTRACTS TRANSLATES INTO 9.32 MILLION OZ.  WITH THE HUGE DROP IN OPEN INTEREST AT THE COMEX. WE SHOULD EXPECT BIGGER GAINS IN EFP TRANSFERS IN THE NEXT FEW DAYS WITH THE LARGE LOSS AT THE COMEX AS LONGS GAVE UP SEEKING METAL AT THIS EXCHANGE.

ACCUMULATION FOR EFP’S/SILVER/ STARTING FROM FIRST DAY NOTICE/FOR MONTH OF FEBRUARY:

32,254 CONTRACTS (FOR 10 TRADING DAYS TOTAL 32,254 CONTRACTS OR 161.270 MILLION OZ: AVERAGE PER DAY: 3225 CONTRACTS OR 16.125 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  161.3 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 23.0% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:  409.6 MILLION OZ.

ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ

RESULT: A TINY SIZED GAIN IN OI SILVER COMEX DESPITE THE SOLID  40 CENT GAIN IN SILVER PRICE.  WE HOWEVER HAD A GOOD SIZED EFP ISSUANCE OF 1862 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. SPECULATORS CONTINUED THEIR INTEREST IN ATTACKING THE SILVER COMEX FOR PHYSICAL SILVER . FROM THE CME DATA 1862 EFP’S  FOR  MONTHS MARCH AND MAY WERE ISSUED FOR MONDAY  FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS.   WE GAINED  1883 OICONTRACTS i.e. 1862 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 21  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE CONSIDERABLE RISE IN PRICE OF SILVER OF  40 CENTS AND A CLOSING PRICE OF $16.60 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A FAIR AMOUNT OF SILVER STANDING AT THE COMEX.

In ounces AT THE COMEX, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.980 BILLION TO BE EXACT or 140% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT FEBRUARY MONTH/ THEY FILED: 89 NOTICE(S) FOR 445,000 OZ OF SILVER

In gold, the open interest  FELL BY A TINY 590 CONTRACTS DOWN TO 510.150 DESPITE THE GOOD SIZED RISE IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($12.00).HOWEVER, IN ANOTHER DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FOR MONDAY AND IT TOTALED A FAIR SIZED  3381 CONTRACTS OF WHICH  APRIL SAW THE ISSUANCE OF 3381 CONTRACTS AND  JUNE SAW THE ISSUANCE OF 0 CONTRACTS AND THEN ALL OTHER MONTHS ZERO.    The new OI for the gold complex rests at 510,150. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EFP DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE CONTINUE TO WITNESS A HUGE NUMBER OF EFP TRANSFERS TOGETHER WITH THE MASSIVE INCREASE IN GOLD COMEX OI  TOGETHER WITH  THE TOTAL AMOUNT OF GOLD OUNCES STANDING FOR FEBRUARY COMEX. EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER (BIG RISE IN BOTH GOFO AND SIFO) AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES. IN ESSENCE TODAY DESPITE YESTERDAY’S TRADING IN GOLD,  WE HAVE A GAIN OF 2791  CONTRACTS: 590 OI CONTRACTS DECREASED AT THE COMEXAND A FAIR SIZED  3381 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.(2791 oi gain in CONTRACTS EQUATES TO 8.68 TONNES)

FRIDAY, WE HAD 6968 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF FEBRUARY STARTING WITH FIRST DAY NOTICE: 102,277 CONTRACTS OR 10,227,700  OZ OR 318.10 TONNES (10 TRADING DAYS AND THUS AVERAGING: 10,227 EFP CONTRACTS PER TRADING DAY OR 1,022,700 OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 9 TRADING DAYS: IN  TONNES: 318.10 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2200 TONNES

THUS EFP TRANSFERS REPRESENTS 318.10/2200 x 100% TONNES =  14.5% OF GLOBAL ANNUAL PRODUCTION SO FAR IN FEBRUARY ALONE.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  951.63 TONNES

ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018: 653.22  TONNES

Result: A  TINY SIZED DECREASE IN OI AT THE COMEX DESPITE THE STRONG SIZED GAIN IN PRICE IN GOLD TRADING YESTERDAY ($12.00). IT IS WITHOUT A DOUBT THAT MANY OF THE DEPARTED COMEX LONGS  RECEIVED THEIR PRIVATE EFP CONTRACT  FOR EITHER  APRIL OR JUNE. HOWEVER, WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 3381 AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED.   THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX AND YET WE ALSO OBSERVED A HUGE DELIVERY MONTH FOR THE MONTH OF DECEMBER. I GUESS IT EXPLAINS THE HUGE ISSUANCE OF EFP’S…THERE IS HARDLY ANY GOLD PRESENT AT THE GOLD COMEX FOR DELIVERY PURPOSES. IF YOU TAKE INTO ACCOUNT THE 3381 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 2791 contracts ON THE TWO EXCHANGES:

3381 CONTRACTS MOVE TO LONDON AND  590 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 8.68 TONNES).

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

WITH GOLD UP $3.40 TODAY, THE CROOKS DECIDED NOT THE RAID THE COOKIE JAR/INVENTORY REMAINS CONSTANT/

Inventory rests tonight: 820.71 tonnes.

SLV/ 

NO CHANGES IN SILVER INVENTORY AT THE SLV/ AGAIN WITH TODAY’S HUGE RISE IN SILVER PRICE:   NO CHANGE IN INVENTORY

/INVENTORY RESTS AT 314.045 MILLION OZ/

can someone please explain why GLD behaves differently to SLV????

end

First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver FELL BY A TINY 453  contracts from 195,964 UP TO 195,511 (AND now A LITTLE FURTHER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE  THE STRONG SIZED  RISE  IN PRICE OF SILVER  (40 CENTS WITH RESPECT TO  YESTERDAY’S TRADING).   OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER GOOD 1862 PRIVATE EFP’S FOR MARCH AND 0 EFP CONTRACTS OR MAY  (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM) AND 0 EFP’S FOR ALL OTHER MONTHS .  EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. WE HAD SOME COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE  OI LOSS AT THE COMEX OF  453 CONTRACTS TO THE 1862 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A GAIN OF  1409  OPEN INTEREST CONTRACTS .  WE STILL HAVE A GOOD AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN JANUARY (SEE BELOW). THE NET GAIN TODAY IN OZ ON THE TWO EXCHANGES:  7.04 MILLION OZ!!!

RESULT: A TINY SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE CONSIDERABLE SIZED RISE OF 40 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING ). BUT WE ALSO HAD ANOTHER GOOD 1862 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE GOOD  SIZED AMOUNT OF SILVER OUNCES STANDING FOR FEBRUARY, DEMAND FOR PHYSICAL SILVER INTENSIFIES AS WE WITNESS MAJOR BANK SHORT COVERING ACCOMPANIED BY INCREASES IN GOFO AND SIFO RATES INDICATING SCARCITY.

(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 30.83 points or 0.93% /Hang Sang CLOSED UP 379.90 or 1.29% / The Nikkei closed DOWN 137.94 POINTS OR .65%/Australia’s all ordinaires CLOSED UP 0.63%/Chinese yuan (ONSHORE) closed DOWN at 6.3448/Oil DOWN to 59.08 dollars per barrel for WTI and 62.49 for Brent. Stocks in Europe OPENED DEEPLY IN THE RED EXCEPT LONDON .   ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.3448. OFFSHORE YUAN CLOSED UP AGAINST  THE ONSHORE YUAN AT 6.3395//ONSHORE YUAN A LOT WEAKER AGAINST THE DOLLAR/OFF SHORE A LOT STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  MUCH WEAKER AGAINST ALL MAJOR CURRENCIES INCLUDING ON SHORE CHINA YUAN.  CHINA IS  HAPPY TODAY STRONGER MARKETS IN CHINA 

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