by Harvey Organ, Harvey Organ Blog:
JEROME POWELL NAMED FED CHAIR/BITCOIN RISES ABOVE $7,000 PER COIN/TRUMP RELEASES HIS NEW TAX REFORM AND IS MET WITH LUKEWARM RESPONSE/UBS STATES THAT IT HAS NO CHANCE IN PASSING
GOLD: $1277.55 UP $1.55
Silver: $17.12 down 6 cents
Closing access prices:
Gold $1276.80
silver: $17.12
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: $1300.00 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1280.50
PREMIUM FIRST FIX: $19.50(premiums getting larger)
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
SECOND SHANGHAI GOLD FIX: $1297.80
NY GOLD PRICE AT THE EXACT SAME TIME: $1278.00
Premium of Shanghai 2nd fix/NY:$19.80 PREMIUMS GETTING LARGER)
CHINA REJECTS NEW YORK PRICING OF GOLD!!!!
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
LONDON FIRST GOLD FIX: 5:30 am est $1276.40
NY PRICING AT THE EXACT SAME TIME: $1276.65
LONDON SECOND GOLD FIX 10 AM: $1279.20
NY PRICING AT THE EXACT SAME TIME. 1277.40 ??
For comex gold:
NOVEMBER/
NOTICES FILINGS TODAY FOR OCT CONTRACT MONTH: 57 NOTICE(S) FOR 5700 OZ.
TOTAL NOTICES SO FAR: 766 FOR 76,600 OZ (2.382TONNES)
For silver:
NOVEMBER
261 NOTICE(S) FILED TODAY FOR
1,305,000 OZ/
Total number of notices filed so far this month: 828 for 4,140,000 oz
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Bitcoin: $7243 bid /$7262 offer up $489.00 (MORNING)
BITCOIN CLOSING;$7027 BID:7047. OFFER UP $273.00
end
LADIES AND GENTLEMEN:
THERE ARE MAJOR FORCES AT WORK CORNERING THE SILVER MARKET ESPECIALLY AT THE COMEX.
Let us have a look at the data for today
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
In silver, the total open interest ROSE BY A HUMONGOUS SIZED 5050 contracts from 198 ,853 UP TO 203,903 WITH YESTERDAY’S DRAMATIC TRADING IN WHICH SILVER ROSE BY A HUGE 48 CENTS. THE CROOKS ARE STILL HAVING AN AWFUL TIME TRYING TO COVER THEIR MASSIVE SILVER SHORTS SO THEY TRY TO CONTINUE WITH THEIR TORMENT. NEWBIE SPEC LONGS ENTERED THE ARENA TO WHICH THE CROOKS SUPPLIED THE NECESSARY SHORT PAPER
RESULT: A GOOD SIZED RISE IN OI COMEX WITH THE 48 CENT PRICE GAIN. OUR BANKERS COULD NOT COVER ANY OF THEIR HUGE SHORTFALL. THEY NEEDED TO SUPPLY THE NECESSARY SHORT PAPER AS NEWBIE LONGS ENTERED THE ARENA
In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.019 BILLION TO BE EXACT or 146{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT OCT MONTH/ THEY FILED: 261 NOTICE(S) FOR 1,305,000 OZ OF SILVER
In gold, the open interest SURPRISINGLY FELL BY A TINY 787 CONTRACTS DESPITE THE GOOD SIZED RISE IN PRICE OF GOLD ($6.60) . The new OI for the gold complex rests at 531,131. DID SOME OF THE BANKERS CAPITULATE AND COVER?
NO EFP’S WERE ISSUED FOR THE UPCOMING NOVEMBER CONTRACT MONTH.
Result: A SMALL SIZED DECREASE IN OI DESPITE THE RISE IN PRICE IN GOLD ($6.60). WE MAY HAVE HAD A TINY AMOUNT OF GOLD SHORT COVERING BY THE BANKS. IT DOES NOT LOOK LIKE ANY EFP’S WERE ISSUED FOR NOVEMBER.
we had: 57 notice(s) filed upon for 5700 oz of gold.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
With respect to our two criminal funds, the GLD and the SLV:
GLD:
Strange! with gold up $6.60 yesterday and $1.55 today, we still had a huge withdrawal of 3.55 tonnes of gold from inventory at the GLD/
Inventory rests tonight: 846.04 tonnes.
SLV
TODAY WE HAD A TINY 137,000 OZ LEAVE THE SLV AND THIS WAS TO PAY FOR FEES ETC.
INVENTORY RESTS AT 319.018 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 5050 contracts from 198,853 UP TO 203903 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE FALL IN SILVER PRICE (GAIN OF 48 CENTS). OUR BANKERS WERE AGAIN UNSUCCESSFUL IN THEIR ATTEMPT TO COVER ANY OF THEIR SILVER SHORTS. NEWBIE LONGS IN SILVER ENTERED THE ARENA TO WHICH THE BANKERS WERE OBLIGED TO SUPPLY THE NECESSARY SHORT PAPER
RESULT: A GOOD SIZED INCREASE IN SILVER OI AT THE COMEX WITH THE 48 CENT GAIN IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). OUR BANKER FRIENDS WERE UNSUCCESSFUL IN THEIR ATTEMPT TO COVER ANY OF OUR SILVER SHORTS . .NO EFP’S WERE ISSUED FOR THE UPCOMING NOVEMBER CONTRACT. HOWEVER THE BANKERS DID SUPPLY NEWBIE LONGS AS THE BANKERS CONTINUED TO GO NET SHORT AS THEY FELT THEY HAD TO OBLIGE SUPPLYING THE PAPER. SILVER IS BECOMING THE NEW BITCOIN.
(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 12.60 points or .37{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} /Hang Sang CLOSED DOWN 75.42 pts or 0.26{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} / The Nikkei closed UP 119.04 POINTS OR 0.53{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Australia’s all ordinaires CLOSED DOWN 0.06{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Chinese yuan (ONSHORE) closed UP at 6.6112/Oil DOWN to 54.32 dollars per barrel for WTI and 60.23 for Brent. Stocks in Europe OPENED IN THE RED . ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.612. OFFSHORE YUAN CLOSED AT VALUE OF THE ONSHORE YUAN AT 6.613 //ONSHORE YUAN STRONGER AGAINST THE DOLLAR/OFF SHORE STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS WEAKER AGAINST ALL MAJOR CURRENCIES. CHINA IS VERY HAPPY TODAY.
Read More @ HarveyOrganBlog.com
