Wednesday, July 17, 2019

ANOTHER RAID BY THE CROOKED BANKERS: GOLD DOWN $11.00 AND SILVER DOWN 44 CENTS

from Harvey Organ, Harvey Organ Blog:

KIM AND TRUMP SILENT ON THE NORTH KOREAN POWDER KEG/CHINA REINS IN ITS SHADOW BANKING SECTOR AND WE SHOULD EXPECT BANK RUNS SHORTLY/CARNAGE IN THE USA RESTAURANT BUSINESS AND BRICKS AND MORTAR

GOLD: $1273.70  DOWN $11.00

Silver: $16.70  DOWN 44 cent(s)

Closing access prices:

Gold $1271.90

silver: $16.64

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: $1281.93 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1274.90

PREMIUM FIRST FIX:  $5.02

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SECOND SHANGHAI GOLD FIX: $1279.81

NY GOLD PRICE AT THE EXACT SAME TIME: $1274.15

Premium of Shanghai 2nd fix/NY:$5.66

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LONDON FIRST GOLD FIX:  5:30 am est  $1274.60

NY PRICING AT THE EXACT SAME TIME: $1274.80 

LONDON SECOND GOLD FIX  10 AM: $1282.30

NY PRICING AT THE EXACT SAME TIME. $1282.30 

For comex gold:

AUGUST/

NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 26 NOTICE(S) FOR  2600  OZ.

TOTAL NOTICES SO FAR: 4547 FOR 454700 OZ (14.14 TONNES) 

For silver:

AUGUST

 

 70 NOTICES FILED TODAY FOR

 

350,000  OZ/

Total number of notices filed so far this month: 900 for 4,500,000 oz

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end

 

Today, the bankers succeeded in their raid on both gold and silver. The open interest in silver continues to fall despite a rise in price (yesterday) and it sure looks like banker capitulation as they try to extricate themselves from their mess. It will be important to see how much open interest in both gold and silver evaporated.  It will get the numbers late tonight  (after 11 pm) and I will insert them between the xxx’s

 

 

xxxxxxxxx

preliminary OI for tonight 11 pm est

 xxxxxxx

Let us have a look at the data for today

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In silver, the total open interest SURPRISINGLY FELL AGAIN BY573 contracts from 189,478 DOWN TO 188,905 DESPITE THE  RISE IN THE PRICE THAT SILVER TOOK WITH RESPECT TO YESTERDAY’S TRADING (UP 6 CENT(S) AND THE FAILED RAID. SIMPLE EXPLANATION SAME STORY AS YESTERDAY: THE BANKERS HAVE CAPITULATED….THEY ARE TRYING TO COVER THEIR SHORTFALL AT HIGHER AND HIGHER PRICES. THE BANKERS ARE HAVING EXTREME DIFFICULTY IN SUPPLYING ADDITIONAL SHORT PAPER AND LONGS CONTINUE TO ADVANCE TAKING ON THE BANKER SHORTS. THE BATTLE OF WATERLOO WILL BE FAST APPROACHING

 In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e.  0.945 BILLION TO BE EXACT or 135{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 70 NOTICE(S) FOR 350,000OZ OF SILVER

In gold, the open interest FELL by A TINY 772 WITH the FALL in price of gold ($3.10 GAIN YESTERDAY.)  The new OI for the gold complex rests at 480,143. A raid was called upon by the bankers and it failed.  The bankers supplied the short paper but just as many longs entered the arena as banker shorts covered.  Thus a small gain in open interest.

we had: 26 notice(s) filed upon for 2600 oz of gold.

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

GLD:

Today, no changes in gold inventory:

Inventory rests tonight: 791.01 tonnes

IN THE LAST 22 TRADING DAYS: GLD SHEDS 45.96 TONNES YET GOLD IS HIGHER BY $35.85 . 

SLV

Today: : WE NO CHANGES IN SILVER INVENTORY TONIGHT:

INVENTORY RESTS AT 335.825 MILLION OZ

 

end

.

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

1. Today, we had the open interest in silver FALL BY 573 contracts from 189,478 down to 188,905 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787). THE FALL IN OPEN INTEREST WAS ACCOMPANIED BY A SMALL RISE IN PRICE AND FOR THE FIRST TIME WE ARE WITNESSING BANKER CAPITULATION.  BANKERS ARE LOATHE TO SUPPLY NEW SHORT PAPER AND THE LONGS CONTINUE TO ENTER THE ARENA PURCHASING WHATEVER SILVER THEY CAN AND WILLING TO TAKE ON OUR CROOKED BANKERS. 

(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 13.90 POINTS OR 0.43{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}   / /Hang Sang CLOSED DOWN 75.27 POINTS OR 0.28{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} The Nikkei closed UP 216.21 POINTS OR 1.11{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Australia’s all ordinaires CLOSED UP 0.43{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Chinese yuan (ONSHORE) closed DOWN at 6.6817/Oil DOWN to 47.37 dollars per barrel for WTI and 50.36 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN , Offshore yuan trades  6.6930 yuan to the dollar vs 6.6817 for onshore yuan. NOW THE OFFSHORE IS WEAKER  TO THE ONSHORE YUAN/ ONSHORE YUAN WEAKER (TO THE DOLLAR)  AND THE OFFSHORE YUAN IS MUCH WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE SLIGHTLY STRONGER DOLLAR. CHINA IS NOT HAPPY TODAY

Read More @ HarveyOrganBlog.com

Keiser Report: Trend reversals (E1110)

from RT:

Max & Stacy discuss Obamacare death spirals and towns left to die post-trade deals. In the second half, Max continues his interview with Gerald Celente of TrendsResearch.com about paradigm shifts: from cryptocurrencies to electric cars.

Audioblog #206-Gold’s Win-Win Scenarios, In The Upcoming, Historic Crypto-Currency Explosion

by Andy Hoffman, Miles Franklin:

Andrew (“Andy”) Hoffman, CFA joined Miles Franklin as Marketing Director in October 2011. For more than a decade, he was a U.S.-based buy-side and sell-side analyst, most notably as an II-ranked oil service analyst at Salomon Smith Barney from 1999 through 2005. Since 2002, his investment focus has been entirely on Precious Metals – and since 2006, has written free, public missives regarding gold, silver, and macroeconomics.  Prior to joining the company, he spent five years working as an Investor Relations officer or consultant to numerous junior mining companies.

Read More @ MilesFranklin.com

Insane Home Prices in Silicon Valley & San Francisco Trip Up Jobs Growth

0

by Wolf Richter, Wolf Street:

Bay Area housing affordability nightmare hits home, so to speak.

What happens in a large urban market when a young couple with a household income that is far above median cannot afford to buy even a modest home? What happens to that local economy? That’s what everyone wants to know, because this is precisely the fate San Francisco, Silicon Valley, and surrounding Bay Area counties are contemplating.

The Housing Affordability Index (HAI), released by the California Association of Realtors (CAR), has some bad news for these people – and possibly for the trends in the local economy and the housing market.

The median price – 50{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} cost more, 50{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} cost less – in San Francisco of a single-family house hit $1.45 million in Q2, according to CAR. This does not include condos, whose prices are somewhat less deadly. It puts San Francisco in second place in the Bay Area, behind San Mateo County, which comprises the northern part of Silicon Valley. Santa Clara County, in fourth place, comprises the southern part of Silicon Valley. In third place is Marin County, just north of the Golden Gate Bridge:

The HAI measures affordability based on this median price of a single-family house (not condo) by county. It figures mortgage payments based on a composite of national effective fixed and adjustable mortgage rates to finance 80{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of the price of the home.

The remaining 20{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} would be that elusive down-payment – elusive because for a median home in the counties of San Francisco or San Mateo, that down-payment would be nearly $300,000. If you live in an expensive city, it’s devilishly hard to save $300,000. So generally, forget that 20{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} down-payment. Maybe go for a 3{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} down-payment ($43,000). In other words, realistically, the payments are going to be much higher and affordability even lower.

After assuming the existence of that 20{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} down-payment, the HAI then figures the monthly burden of owning that home: the mortgage payment, property taxes, and insurance. It does not include the tax effects of the mortgage interest deduction.

Given historically low mortgage rates – 30-year fixed-rate mortgages are still quoted under 4{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} – and that elusive 20{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} down-payment, the minimum qualifying household income needed to buy a median home in the counties of San Mateo and San Francisco would be nearly $300,000 per year:

The report also points out that these minimum qualifying income levels have about doubled for most of these counties since Q1 2012.

Read More @ WolfStreet.com

3RD CONSECUTIVE RAID ATTEMPT BY OUR BANKERS FAILED WITH RESPECT TO GOLD AND SILVER

by Harvey Organ, Harvey Organ Blog:

OPEN INTEREST IN SILVER CONTINUES TO FALL DESPITE THE RISE IN PRICE WHICH INDICATES BANKER CAPITULATION/GLD STOPS ITS BLEEDING OF GOLD ANS INVENTORIES RISE BY 4.14 TONNES/CHINA ANNOUNCES A HALT TO ALL IMPORTS CONTAINING COAL, IRON, IRON ORE AND SEAFOOD FROM NORTH KOREA/ THE UKRAINE IS THE SOURCE OF ENGINES ON THOSE NORTH KOREAN MISSILES: AND THE UKRAINE IS AN ALLY OF THE USA?

GOLD: $1284.70  DOWN $3.10

Silver: $17.14  up 6 cent(s)

Closing access prices:

Gold $1282.20

silver: $17.08

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: $1292.87 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1287.85

PREMIUM FIRST FIX:  $5.02

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SECOND SHANGHAI GOLD FIX: $1290.15

NY GOLD PRICE AT THE EXACT SAME TIME: $1285.70

Premium of Shanghai 2nd fix/NY:$4.45

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LONDON FIRST GOLD FIX:  5:30 am est  $1281.10

NY PRICING AT THE EXACT SAME TIME: $1281.95 

LONDON SECOND GOLD FIX  10 AM: $1282.30

NY PRICING AT THE EXACT SAME TIME. $1282.30 

For comex gold:

AUGUST/

NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 34 NOTICE(S) FOR  3400  OZ.

TOTAL NOTICES SO FAR: 4521 FOR 452,100 OZ (14.062 TONNES) 

For silver:

AUGUST

 

 20 NOTICES FILED TODAY FOR

 

100,000  OZ/

Total number of notices filed so far this month: 830 for 4,150,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

 

end

 

 

Today, the bankers tried to raid both gold and silver for the third consecutive day and failed again.  The open interest in silver continues to fall despite a rise in price and it sure looks like banker capitulation as they try to extricate themselves from their mess. Another good indicator of trouble for our bankers is that the bleeding of gold has stopped  (physical gold supplying Eastern countries e.g. China, Russia and Turkey). Today 4.14 tonnes of gold was added to inventories. SLV showed no gain or loss of silver inventory.

Let us have a look at the data for today

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In silver, the total open interest SURPRISINGLY FELL BY A HUGE4967 contracts from 194,445 down to 189,478 DESPITE THE  RISE IN THE PRICE THAT SILVER TOOK WITH RESPECT TO FRIDAY’S TRADING (UP 4 CENT(S) AND THE FAILED RAID. SIMPLE EXPLANATION: THE BANKERS HAVE CAPITULATED….THEY ARE TRYING TO COVER THEIR SHORTFALL AT HIGHER AND HIGHER PRICES. THE BANKERS ARE HAVING EXTREME DIFFICULTY IN SUPPLYING ADDITIONAL SHORT PAPER AND LONGS CONTINUE TO ADVANCE TAKING ON THE BANKER SHORTS. THE BATTLE OF WATERLOO WILL BE FAST APPROACHING

 In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e.  0.947 BILLION TO BE EXACT or 135{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 20 NOTICE(S) FOR 100,000OZ OF SILVER

In gold, the open interest ROSE by A CONSIDERABLE 5,002 WITH the RISE in price of gold ($4.10 GAIN ON FRIDAY.)  The new OI for the gold complex rests at 480,915.  IN COMPLETE CONTRAST TO SILVER, THE BANKERS SUPPLIED THE MASSIVE AMOUNT OF PAPER SHORT GOLD WHICH WAS GOBBLED UP BY THE LONGS.  THE NEWBIE SPEC SHORTS HAVE NO DOUBT COVERED THEIR SHORT POSITION BY NOW.  I WROTE THE FOLLOWING TO MY FRIENDS OVER THE WEEKEND: “WE MUST BE COGNIZANT OF ANOTHER RAID THIS COMING WEEK AS THE OI FOR GOLD IS EXTREMELY HIGH AND THE NOOSE IS AROUND THEIR NECKS IN SILVER.”  THE CROOKS DID NOT TAKE LONG TO INITIATE ANOTHER RAID TODAY

we had: 34 notice(s) filed upon for 3400 oz of gold.

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

GLD:

Today, a big change in gold inventory: a deposit of 4.14 tonnes into the GLD

Inventory rests tonight: 791.01 tonnes

 

IN THE LAST 21 TRADING DAYS: GLD SHEDS 45.96 TONNES YET GOLD IS HIGHER BY $45.85 . 

SLV

Today: : WE NO CHANGES IN SILVER INVENTORY TONIGHT:

INVENTORY RESTS AT 335.825 MILLION OZ

 

end

.

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

1. Today, we had the open interest in silver FALL BY  4,967 contracts from 194,445 DOWN TO 189,478 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787). THE FALL IN OPEN INTEREST WAS ACCOMPANIED BY A SMALL RISE IN PRICE AND FOR THE FIRST TIME WE ARE WITNESSING BANKER CAPITULATION.  BANKERS ARE LOATHE TO SUPPLY NEW SHORT PAPER AND THE LONGS CONTINUE TO ENTER THE ARENA PURCHASING WHATEVER SILVER THEY CAN AND WILLING TO TAKE ON OUR CROOKED BANKERS. 

(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 SUNDAY night/MONDAY morning: Shanghai closed UP 28.92 POINTS OR 0.90{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}   / /Hang Sang CLOSED UP 366.72 POINTS OR 1.36{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} The Nikkei closed DOWN 192.64 POINTS OR .98{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Australia’s all ordinaires CLOSED UP 0.61{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Chinese yuan (ONSHORE) closed DOWN at 6.6720/Oil DOWN to 48.49 dollars per barrel for WTI and 51.72 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN , Offshore yuan trades  6.6874 yuan to the dollar vs 6.6720 for onshore yuan. NOW THE OFFSHORE IS WEAKER  TO THE ONSHORE YUAN/ ONSHORE YUAN WEAKER (TO THE DOLLAR)  AND THE OFFSHORE YUAN IS MUCH WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE SLIGHTLY STRONGER DOLLAR. CHINA IS NOT HAPPY TODAY

Read More @ HarveyOrganBlog.com