Tuesday, January 26, 2021

Tag: GOLD UP $6.00 TO $1333.15/SILVER IS UP 9 CENTS TO $17.03/GOLD EFP ISSUANCE: 5867 CONTACTS

GOLD UP $6.00 TO $1333.15/SILVER IS UP 9 CENTS TO $17.03/GOLD EFP ISSUANCE: 5867 CONTACTS

by Harvey Organ, Harvey Organ Blog:

SILVER EFP ISSUANCE: 1597/ AT COMEX A HUGE 125,850 OZ ADDED INTO INVENTORY BY JPMORGAN/IN SILVER JPMORGAN ADDED ANOTHER 503,791.OZ/A HUGE RISE IN THE 10 YR USA BOND YIELD TO 2.659%/THE 30 YR BOND YIELD RISES TO 2.932

GOLD: $1333.15 UP $6.00

Silver: $17.03 UP 9 cents

Closing access prices:

Gold $1331.70

silver: $17.03

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: $1338.44 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1331.40

PREMIUM FIRST FIX: $7.04

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

SECOND SHANGHAI GOLD FIX: $1339.81

NY GOLD PRICE AT THE EXACT SAME TIME: $1331.60

Premium of Shanghai 2nd fix/NY:$8.21

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

LONDON FIRST GOLD FIX: 5:30 am est $1335.80

NY PRICING AT THE EXACT SAME TIME: $1336.10

LONDON SECOND GOLD FIX 10 AM: $1334.95

NY PRICING AT THE EXACT SAME TIME. $1334.00

For comex gold:

JANUARY/

NUMBER OF NOTICES FILED TODAY FOR JANUARY CONTRACT: 4 NOTICE(S) FOR 400 OZ.

TOTAL NOTICES SO FAR: 472 FOR 47200 OZ (1.4681 TONNES),

For silver:

jANUARY

5 NOTICE(S) FILED TODAY FOR

25,000 OZ/

Total number of notices filed so far this month: 688 for 3,440,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

Bitcoin: BID $11,227/OFFER $11,327  UP 27 (morning)

 Bitcoin: BID   11,327/OFFER  $11,427 UP  $120(CLOSING)

 

end

Let us have a look at the data for today

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

In silver, the total open interest FELL BY A SMALL  1615 contracts from 196,423 FALLING TO 194,808 WITH YESTERDAY’S DEEP 23 CENT FALL IN SILVER PRICING.  WE THUS HAVE SOME 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:  1597 EFP’S FOR MARCH AND ZERO FOR OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 1597 CONTRACTS. HOWEVER THE MOVEMENT ACROSS TO LONDON IS NOT AS SEVERE AS IN GOLD AS THERE SEEMS TO BE  MAJOR PLAYERS WILLING TO TAKE ON THE BANKS AT THE COMEX. STILL, WITH THE TRANSFER OF 1597 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.

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

33,424 CONTRACTS (FOR 14 TRADING DAYS TOTAL 33,424 CONTRACTS OR 167.120 MILLION OZ: AVERAGE PER DAY: 2387 CONTRACTS OR 11.937 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  167.120 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 23.8% OF ANNUAL GLOBAL PRODUCTION

RESULT: A SMALL SIZED LOSS IN OI COMEX DESPITE THE 23 CENT FALL IN SILVER PRICE WHICH USUALLY INDICATES ANOTHER FAILED BANKER SHORT-COVERING. WE ALSO HAD A HUGE SIZED EFP ISSUANCE OF 1597 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 . FROM THE CME DATA 1573 EFP’S WERE ISSUED FOR TODAY  FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE REALLY LOST ONLY 42 OI CONTRACTS i.e. 1573 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 1615  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 23 CENTS AND A CLOSING PRICE OF $16.94 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A GOOD 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. 0.974 BILLION TO BE EXACT or 139% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JANUARY MONTH/ THEY FILED: 5 NOTICE(S) FOR 25,000 OZ OF SILVER

In gold, the open interest SHOCKINGLY ROSE BY A CONSIDERABLE 3953 CONTRACTS UP TO595,151 DESPITE THE LARGE  FALL IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($11.85). THUS ANOTHER FAILED BANKER SHORT COVERING.  IN ANOTHER HUGE DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FOR TODAY AND IT TOTALED A GOOD SIZED  5867 CONTRACTS OF WHICH THE MONTH OF FEBRUARY SAW 5867 CONTRACTS AND APRIL SAW THE ISSUANCE OF 0 CONTRACTS   The new OI for the gold complex rests at 595,151. 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 JANUARY 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 WE HAVE ANOTHER MONSTROUS GAIN OF 9820 OI CONTRACTS: 3953 OI CONTRACTS INCREASED AT THE COMEX AND AN GOOD SIZED  5867 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.

YESTERDAY, WE HAD 6902 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JANUARY STARTING WITH FIRST DAY NOTICE: 134,717 CONTRACTS OR 13.4717 MILLION OZ OR 419.02 TONNES(14 TRADING DAYS AND THUS AVERAGING: 9622 EFP CONTRACTS PER TRADING DAY OR 962,200 OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 14 TRADING DAYS: IN  TONNES: 419 TONNES

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

THUS EFP TRANSFERS REPRESENTS 419/2200 TONNES =  19.04% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JANUARY ALONE.

Result: A SHOCKINGLY STRONG SIZED INCREASE IN OI AT THE COMEX DESPITE THE LARGE  FALL IN PRICE IN GOLD TRADING ON YESTERDAY ($11.85). WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 5867. 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 5867 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF9820 contracts ON THE TWO EXCHANGES:

5867 CONTRACTS MOVE TO LONDON AND  3953 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the gain in total oi equates to 33.85 TONNES)

we had: 4 notice(s) filed upon for 400 oz of gold.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

GLD

With gold up $6.00, we had no change in gold inventory at the GLD/

Inventory rests tonight: 840.96 tonnes.

SLV/ 

NO CHANGES IN SILVER INVENTORY AT THE SLV/

INVENTORY RESTS AT 315.500 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 A SMALL 1615 contracts from 196,423 DOWN TO 194,808 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE  THE HUGE  FALL IN PRICE OF SILVER TO THE TUNE OF 23 CENTS WITH RESPECT TO  YESTERDAY’S TRADING.   OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER GOOD 1597 PRIVATE EFP’S FOR MARCH (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 1615 CONTRACTS TO THE 1597 OI TRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A SMALL LOSS OF 42 OPEN INTEREST CONTRACTS.  WE STILL HAVE A GOOD AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN JANUARY (SEE BELOW). THE NET LOSS TODAY IN OZ ON THE TWO EXCHANGES: 0.210 MILLION OZ!!!

RESULT: A SMALL SIZED DECREASE IN SILVER OI AT THE COMEX WITH THE GOOD SIZED FALL OF 23CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). BUT WE ALSO HAD ANOTHER 1597 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE GOOD  SIZED AMOUNT OF SILVER OUNCES STANDING FOR JANUARY, 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 THURSDAY night/FRIDAY morning: Shanghai closed UP 13.11 points or 0.38% /Hang Sang CLOSED UP 132.95 pts or 0.41% / The Nikkei closed UP 44.69 POINTS OR 0.19%/Australia’s all ordinaires CLOSED DOWN 0.18%/Chinese yuan (ONSHORE) closed WELL UP at 6.4035/Oil DOWN to 63.54 dollars per barrel for WTI and 68.69 for Brent. Stocks in Europe OPENED ALL GREEN.   ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.4035. OFFSHORE YUAN CLOSED UP AGAINST  THE ONSHORE YUAN AT 6.4003//ONSHORE YUAN MUCH STRONGER AGAINST THE DOLLAR/OFF SHORE STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  MUCH WEAKER AGAINST ALL MAJOR CURRENCIES. CHINA IS VERY  HAPPY TODAY.(GOOD MARKETS )

Read More @ HarveyOrganBlog.com