by Harvey Organ, Harvey Organ Blog:
HUGE EFP TRANSFER IN GOLD OF 22,672 CONTRACTS/SILVER EFP ISSUANCE: 1731 CONTRACTS/THE KEY USA/YEN CROSS PLUMMETS TO CLOSE TO 106.00/TWO BIG USA DATA POINTS TODAY; PPI IS SCORCHING HOT AND THAT MEANS INFLATION AROUND THE CORNER/INDUSTRIAL PRODUCTION FALTERS MEANING STAGFLATION MAY BE UPON US/MORE SWAMP STORIES FOR YOU TONIGHT
GOLD: $1352.95 DOWN $2.45
Silver: $16.84 DOWN 8 cents
Closing access prices:
Gold $1353.50
silver: $16.88
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: $XXXX DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $XXXX
PREMIUM FIRST FIX: $3.78
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SECOND SHANGHAI GOLD FIX: $XXXX
NY GOLD PRICE AT THE EXACT SAME TIME: $1333.50
discount of Shanghai 2nd fix/NY:$1.20
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LONDON FIRST GOLD FIX: 5:30 am est $1353.70
NY PRICING AT THE EXACT SAME TIME: $1353.90
LONDON SECOND GOLD FIX 10 AM: $1352.45
NY PRICING AT THE EXACT SAME TIME. $1351.900
For comex gold:
FEBRUARY/
NUMBER OF NOTICES FILED TODAY FOR FEBRUARY CONTRACT: 1 NOTICE(S) FOR 100 OZ.
TOTAL NOTICES SO FAR:1784 FOR 178400 OZ (5.5489 TONNES),
For silver:
FEBRUARY
1 NOTICE(S) FILED TODAY FOR
5,000 OZ/
Total number of notices filed so far this month: 308 for 1,540,000 oz
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Bitcoin: BID $9638/OFFER $9714: up $198(morning)
Bitcoin: BID/ $99029/offer $9999: up $492 (CLOSING/5 PM)
end
Let us have a look at the data for today\
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In silver, the total open interest ROSE BY A HUGE SIZED 3070 contracts from 194,056 RISING TO 197,126 WITH YESTERDAY’S HUGE 35 CENT GAIN IN SILVER PRICING. WE HAD ZERO 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: 1731 EFP’S FOR MARCH AND AND 0 EFP’S FOR MAY AND ZERO FOR ALL OTHER MONTHS AND THUS TOTAL ISSUANCE OF 1731 CONTRACTS. WITH THE TRANSFER OF 1731 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 1731 CONTRACTS TRANSLATES INTO 8.915 MILLION OZ DESPITE WITH THE CONTINUAL DROP IN OPEN INTEREST IN SILVER AT THE COMEX.
ACCUMULATION FOR EFP’S/SILVER/ STARTING FROM FIRST DAY NOTICE/FOR MONTH OF FEBRUARY:
36,852 CONTRACTS (FOR 12 TRADING DAYS TOTAL 36,852 CONTRACTS OR 184.26 MILLION OZ: AVERAGE PER DAY: 3071 CONTRACTS OR 15.355 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 184.26 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 26/32% OF ANNUAL GLOBAL PRODUCTION
ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 432.60 MILLION OZ.
ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ
RESULT: A HUGE SIZED GAIN IN OI SILVER COMEX WITH THE HUGE 35 CENT GAIN IN SILVER PRICE. WE ALSO HAD A GOOD SIZED EFP ISSUANCE OF 1731 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 1731 EFP’S FOR MONTHS MARCH AND MAY WERE ISSUED FOR TODAY FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE GAINED 4801 OICONTRACTS i.e. 1731 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 3070 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE HUGE RISE IN PRICE OF SILVER OF 35 CENTS AND A CLOSING PRICE OF $16.92 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. 0.986 BILLION TO BE EXACT or 141% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT FEBRUARY MONTH/ THEY FILED: 1 NOTICE(S) FOR 5,000 OZ OF SILVER
In gold, the open interest ROSE BY A HUMONGOUS 16,637 CONTRACTS UP TO 528,382 WITH THE GIGANTIC SIZED RISE IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($27.40). HOWEVER, IN ANOTHER DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FOR TODAY AND IT TOTALED AN ATMOSPHERIC SIZED 22,672 CONTRACTS OF WHICH APRIL SAW THE ISSUANCE OF 21,922 CONTRACTS AND JUNE SAW THE ISSUANCE OF 750 CONTRACTS AND THEN ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 528,382. 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 39,309 CONTRACTS: 16,637 OI CONTRACTS INCREASED AT THE COMEX AND A GIGANTIC SIZED 22,672 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.(39,309 oi gain in CONTRACTS EQUATES TO 122.26 TONNES)
YESTERDAY, WE HAD 6481 EFP’S ISSUED.
ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF FEBRUARY STARTING WITH FIRST DAY NOTICE: 131,430 CONTRACTS OR 13,143,000 OZ OR 408.80 TONNES (12 TRADING DAYS AND THUS AVERAGING: 10,952 EFP CONTRACTS PER TRADING DAY OR 1,095,200 OZ/ TRADING DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : SO FAR THIS MONTH IN 12 TRADING DAYS: IN TONNES: 408.80 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2200 TONNES
THUS EFP TRANSFERS REPRESENTS 408.80/2200 x 100% TONNES = 18.58% OF GLOBAL ANNUAL PRODUCTION SO FAR IN FEBRUARY ALONE.
ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 1042.2 TONNES
ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018: 653.22 TONNES
Result: A HUGE SIZED INCREASE IN OI AT THE COMEX WITH THE HUGE SIZED GAIN IN PRICE IN GOLD TRADING YESTERDAY ($27.40). 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: 22,672 CONTRACTS 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 22,672 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 39,309 contracts ON THE TWO EXCHANGES:
22,672 CONTRACTS MOVE TO LONDON AND 16,637 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 122.26 TONNES).
we had: 1 notice(s) filed upon for 100 oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD
WITH GOLD DOWN $2.45 TODAY, NO CHANGE IN GOLD INVENTORY AT THE GLD/
Inventory rests tonight: 823.66 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/
end
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver ROSE BY A HUGE 3070 contracts from 194,056 UP TO 197,126 (AND now A LITTLE FURTHER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE HUGE SIZED FALL IN PRICE OF SILVER (35 CENTS WITH RESPECT TO YESTERDAY’S TRADING). OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER GOOD 1731 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 GAIN AT THE COMEX OF 3070 CONTRACTS TO THE 1731 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A GAIN OF 4801 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: 24.00 MILLION OZ!!!
RESULT: A HUGE SIZED INCREASE IN SILVER OI AT THE COMEX WITH THE HUGE SIZED GAIN OF 35 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING ). BUT WE ALSO HAD ANOTHER GOOD 1731 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
)Late WEDNESDAY night/THURSDAY morning: Shanghai closed /Hang Sang CLOSED UP 599.83 or 1.97% / The Nikkei closed UP 310.81 POINTS OR 1.47%/Australia’s all ordinaires CLOSED UP 1.16%/Chinese yuan (ONSHORE) closed UP at 6.3415/Oil DOWN to 60.58 dollars per barrel for WTI and 63.84 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN . ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.3415. OFFSHORE YUAN CLOSED UP AGAINST THE ONSHORE YUAN AT 6.2980//ONSHORE YUAN A LITTLE STRONGER AGAINST THE DOLLAR/OFF SHORE A LOT STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS A LOT WEAKER AGAINST ALL MAJOR CURRENCIES . CHINA IS HAPPY TODAY AS THEY BEGIN THEIR NEW YEAR ONE WEEK HOLIDAY TOMORROW
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