Wednesday, January 27, 2021

Tag: USA DOLLAR TANKS ON MNUCHIN STATEMENT THAT HE WANTS A LOWER DOLLAR VALUE

USA DOLLAR TANKS ON MNUCHIN STATEMENT THAT HE WANTS A LOWER DOLLAR VALUE

by Harvey Organ, Harvey Organ Blog:

USA INDEX BREAKS 90 AND ENDS AT 89.25/USA 10 YR BOND NOTE AT 2.65%/GOLD RISES $25.00 TO $1357.15/SILVER RISES 56 CENTS TO $17.50 AND BREAKS THE HUGE $17.25 RESISTANCE/MONSTROUS ISSUE IN GOLD EFPS: 12,223/HUGE SILVER EFP ISSUANCE OF 2598 CONTRACTS/HUGE 2.65 TONNES OF GOLD ADDED INTO THE GLD/NOTHING ADDED INTO THE SLV/HUGE NUMBER OF SWAMP STORIES FOR YOU TONIGHT

GOLD: $1357.15 UP $25.00

Silver: $17.50 UP 56 cents

Closing access prices:

Gold $1359.00

silver: $17.57

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: $1348.77 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1341.15

PREMIUM FIRST FIX: $7.62

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SECOND SHANGHAI GOLD FIX: $1358.46

NY GOLD PRICE AT THE EXACT SAME TIME: $1343.00

Premium of Shanghai 2nd fix/NY:$15.46

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1350.50

NY PRICING AT THE EXACT SAME TIME: $1349.80

LONDON SECOND GOLD FIX 10 AM: $1353.70

NY PRICING AT THE EXACT SAME TIME. $1355.25

For comex gold:

JANUARY/

NUMBER OF NOTICES FILED TODAY FOR JANUARY CONTRACT: 8 NOTICE(S) FOR 800 OZ.

TOTAL NOTICES SO FAR: 692 FOR 69200 OZ (2.1524 TONNES),

For silver:

jANUARY

10 NOTICE(S) FILED TODAY FOR

50,000 OZ/

Total number of notices filed so far this month: 726 for 3,630,000 oz

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Bitcoin: BID $10,947/OFFER $11,047  DOWN $171 (morning)

 Bitcoin: BID   $11,108/OFFER  $11,212 UP $332  (CLOSING/4 PM)

 

end

Let us have a look at the data for today

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In silver, the total open interest FELL BY A TINY 76 contracts from 200,061 FALLING TO 199,985 WITH YESTERDAY’S 6 CENT LOSS IN SILVER PRICING.  WE THUS  MINIMAL COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER HUGE SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  2598 EFP’S FOR MARCH AND ZERO FOR OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 2598 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 2598 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:

37,797 CONTRACTS (FOR 17 TRADING DAYS TOTAL 37,797 CONTRACTS OR 188.98 MILLION OZ: AVERAGE PER DAY: 2223 CONTRACTS OR 11.116 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  188.98 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 26.99% OF ANNUAL GLOBAL PRODUCTION

RESULT: A TINY SIZED LOSS IN OI COMEX DESPITE THE 6 CENT LOSS IN SILVER PRICE WHICH USUALLY INDICATES ANOTHER FAILED BANKER SHORT-COVERING. WE ALSO HAD A HUGE SIZED EFP ISSUANCE OF 2598 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 2598 EFP’S WERE ISSUED FOR TODAY  FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE REALLY GAINED 2522 OI CONTRACTS i.e. 2598 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 76  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE  FALL IN PRICE OF SILVER OF 6 CENTS AND A CLOSING PRICE OF $16.92 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. 0.999 BILLION TO BE EXACT or 141% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JANUARY MONTH/ THEY FILED: 10 NOTICE(S) FOR 50,000 OZ OF SILVER

In gold, the open interest SURPRISINGLY ROSE  BY A CONSIDERABLE 9126 CONTRACTS UP TO582,421 WITH THE GOOD SIZED RISE IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($5.55). IN ANOTHER HUGE DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FOR WEDNESDAY AND IT TOTALED A HUMONGOUS SIZED  12,223 CONTRACTS OF WHICH FEBRUARY SAW 11,023 CONTRACTS ISSUED AND  APRIL SAW THE ISSUANCE OF 1200 CONTRACTS.    The new OI for the gold complex rests at 583,590. ALSO REMEMBER THAT THERE CAN 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 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 TODAY WE HAVE A HUGE GAIN OF 21,349  CONTRACTS: 9126 OI CONTRACTS INCREASED AT THE COMEX AND A GOOD SIZED  12,223 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. EXPECT HUGE NUMBERS OF EFP’S TO BE ISSUED AS WE APPROACH FIRST DAY NOTICE IN THE GOLD FEB COMEX CONTRACT, WEDNESDAY JAN 31.2018

YESTERDAY, WE HAD 11,759 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JANUARY STARTING WITH FIRST DAY NOTICE: 164,474 CONTRACTS OR 16.474 MILLION OZ OR 512.41 TONNES(17 TRADING DAYS AND THUS AVERAGING: 9674 EFP CONTRACTS PER TRADING DAY OR 967,400 OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 17 TRADING DAYS: IN  TONNES: 513 TONNES

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

THUS EFP TRANSFERS REPRESENTS 474/2200 TONNES =  23.31% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JANUARY ALONE.

Result: A SHOCKINGLY STRONG SIZED INCREASE IN OI AT THE COMEX WITH THE FAIR SIZED RISE IN PRICE IN GOLD TRADING ON YESTERDAY ($5.55). WE HAD ANOTHER GIGANTIC SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 12,223. 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 12,223 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 21,349 contracts ON THE TWO EXCHANGES:

12,223 CONTRACTS MOVE TO LONDON AND  9,126 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 70.03 TONNES).

we had: 8 notice(s) filed upon for 800 oz of gold.

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

GLD

With gold UP $25.00, we had  a huge change in gold inventory at the GLD/A DEPOSIT OF 2.65 TONNES

Inventory rests tonight: 849.32 tonnes.

SLV/ 

A BIG CHANGES IN SILVER INVENTORY AT THE SLV/A HUGE WITHDRAWAL OF 1.131 MILLION OZ FROM THE SLV INVENTORY/

INVENTORY RESTS AT 313.048 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 TINY 76 contracts from 200,061 DOWN TO 199,985 (AND now A LITTLE FURTHER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH  THE FALL  IN PRICE OF SILVER TO THE TUNE OF 5 CENTS WITH RESPECT TO  YESTERDAY’S TRADING.   OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER GOOD 2598 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 ZERO COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE  OI LOSS AT THE COMEX OF  76 CONTRACTSTO THE 2598 OI TRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A BIG GAIN OF 2522 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: 12.61 MILLION OZ!!!

RESULT: A SMALL SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE TINY FALL  OF 6 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). BUT WE ALSO HAD ANOTHER STRONG 2598 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 TUESDAY night/WEDNESDAY morning: Shanghai closed UP 12.96 points or 0.37% /Hang Sang CLOSED UP 27.99 pts or 0.08% / The Nikkei closed DOWN 183.97 POINTS OR 0.76%/Australia’s all ordinaires CLOSED UP 0.29%/Chinese yuan (ONSHORE) closed  WELL UP at 6.3748/Oil UP to 64.63 dollars per barrel for WTI and 69.91 for Brent. Stocks in Europe OPENED ALL RED .   ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.2748. OFFSHORE YUAN CLOSED UP AGAINST  THE ONSHORE YUAN AT 6.3732//ONSHORE YUAN MUCH STRONGER AGAINST THE DOLLAR/OFF SHORE MUCH STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  MUCH WEAKER AGAINST ALL MAJOR CURRENCIES. CHINA IS VERY  HAPPY TODAY.(GOOD MARKETS/WEAKER USA DOLLAR )

 

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