GOLD DROPS $13.00 AND SILVER FALLS BY 11 CENTS AS THE BANKERS UNLOAD A HUGE $4 BILLION NAKED COMEX GOLD SHORT

SGT

November 11, 2017

by Harvey Organ, Harvey Organ Blog:

BITCOIN DROPS A HUGE $718.00/CHINA WILL NOW OFFICIALLY ALLOW FOREIGNERS TO TAKE CONTROL IN CHINA OF BANKS, INVESTMENT HOUSES AND INSURANCE COMPANIES: THE REAL REASON IS TO BAIL THEM OUT OF THEIR HUGE DEBT

GOLD: $1274.00 UP $13.00

Silver: $16.89 DOWN 11 cents

Closing access prices:

Gold $1276.20

silver: $16.91

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: $1293.33 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1285.70

PREMIUM FIRST FIX: $7.63

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SECOND SHANGHAI GOLD FIX: $1292.60

NY GOLD PRICE AT THE EXACT SAME TIME: $1284.45

Premium of Shanghai 2nd fix/NY:$8.15

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LONDON FIRST GOLD FIX: 5:30 am est $1284.45

NY PRICING AT THE EXACT SAME TIME: $1284.90

LONDON SECOND GOLD FIX 10 AM: $1284.30

NY PRICING AT THE EXACT SAME TIME. 1284.30

For comex gold:

NOVEMBER/

NOTICES FILINGS TODAY FOR OCT CONTRACT MONTH: 14 NOTICE(S) FOR 1400 OZ.

TOTAL NOTICES SO FAR: 989 FOR 98,900 OZ (3.0762TONNES)

For silver:

NOVEMBER

2 NOTICE(S) FILED TODAY FOR

10,000 OZ/

Total number of notices filed so far this month: 871 for 4,355,000 oz

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Bitcoin: BID $6874 OFFER /$6899 DOWN $266.00 (MORNING)

BITCOIN CLOSING; BID $6421 OFFER: 6446 // DOWN $718.00

end

Let us have a look at the data for today

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In silver, the total open interest FELL BY A CONSIDERABLE 1349 contracts from 201,944 DOWN TO 200,595 WITH YESTERDAY’S TRADING IN WHICH SILVER FELL 11 CENTS. IT LOOKS LIKE WE GOT A FEW MORE COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE.

RESULT: A GOOD SIZED DROP IN OI COMEX WITH THE 11 CENT PRICE FALL. COMEX LONGS EXITED OUT OF THE COMEX AND NO DOUBT WERE ISSUED EFP’S FOR A DELIVERABLE CONTRACT OVER IN LONDON WITH A FIAT BONUS.

In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.002 BILLION TO BE EXACT or 144{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT OCT MONTH/ THEY FILED: 2 NOTICE(S) FOR 10,000 OZ OF SILVER

In gold, the open interest FELL BY 1348 CONTRACTS DESPITE THE GOOD SIZED RISE IN PRICE OF GOLD ($3.25) WITH YESTERDAY’S TRADING . ORIGINALLY I THOUGHT THAT WE HAD SOME MINOR BANKER SHORT COVERING IN GOLD. HOWEVER JUDGING BY THE RAID TODAY, THAT WOULD BE IMPOSSIBLE. THUS THE DROP IN OI WAS DUE TO EFP’S ISSUED BY THE CROOKED BANKERS.The new OI for the gold complex rests at 535,042.

WE MAY HAVE HAD SOME SMALL EFP’S ISSUED FOR THE DECEMBER CONTRACT MONTH (COMEX LONGS TRANSFERRING OVER TO LONDON THROUGH THE EFP ROUTE)

Result: A TINY SIZED DECREASE IN OI DESPITE THE RISE IN PRICE IN GOLD ($3.25). WE HAD COMEX LONG TRANSFERS TO LONDON THROUGH THE EFP ROUTE.

we had: 14 notice(s) filed upon for 1400 oz of gold.

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

GLD:

No changes in gold inventory at the GLD/

Inventory rests tonight: 843.09 tonnes.

SLV

TODAY WE HAD NO CHANGE IN SILVER INVENTORY AT THE SLV

INVENTORY RESTS AT 318.074 MILLION OZ

end

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

1. Today, we had the open interest in silver FELL BY 1,349 contracts from 218,944 DOWN TO 200,595 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH THE FALL IN SILVER PRICE (A LOSS OF 11 CENTS). OUR BANKERS PROBABLY USED THEIR EMERGENCY PROCEDURE TO ISSUE PRIVATE EFP’S FOR DECEMBER(WE DO NOT GET A LOOK AT THESE CONTRACTS) WHICH GIVES OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. THIS IS QUITE EARLY FOR THESE EFP ISSUANCE..USUALLY WE WITNESS THIS ONE WEEK PRIOR TO FIRST DAY NOTICE AND THIS CONTINUES RIGHT UP UNTIL FDN. I ORIGINALLY THOUGHT THAT WE COULD HAVE HAD SOME BANKER SHORT COVERING AT THE LOWER SILVER PRICE. HOWEVER GOLD’S RISE (AND INCREASING DEMAND) AND THE RAID TODAY LEADS ME TO BELIEVE THAT WE HAD THE FORMER.

RESULT: A GOOD SIZED DECREASE IN SILVER OI AT THE COMEX WITH THE 11 CENT FALL IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). WE PROBABLY HAD MORE EFP’S ISSUED

(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 THURSDAY night/FRIDAY morning: Shanghai closed UP 4.87 points or .14{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} /Hang Sang CLOSED DOWN 15.65 pts or 0.05{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} / The Nikkei closed DOWN 187.29 POINTS OR 0.82{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Australia’s all ordinaires CLOSED DOWN 0.30{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Chinese yuan (ONSHORE) closed DOWN at 6.6430/Oil UP to 57.15 dollars per barrel for WTI and 63.90 for Brent. Stocks in Europe OPENED RED . ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.6430. OFFSHORE YUAN CLOSED WEAKER TO THE ONSHORE YUAN AT 6.655 //ONSHORE YUAN WEAKER AGAINST THE DOLLAR/OFF SHORE WEAKER TO THE DOLLAR/. THE DOLLAR (INDEX) IS STRONGER AGAINST ALL MAJOR CURRENCIES. CHINA IS NOT VERY HAPPY TODAY.

Tag: GOLD DROPS $13.00 AND SILVER FALLS BY 11 CENTS AS THE BANKERS UNLOAD A HUGE $4 BILLION NAKED COMEX GOLD SHORT