Gold Is Up $4.00 Despite Banker Attempts To Quash The Metal/silver Also Rebounds

by Harvey Organ, Harvey Organ Blog:

SILVER AND FINISHES UP 3 CENTS/LONG TERM BOND YIELDS FALTER/CHINESE MARKETS FALL/THE ONLY POSITIVE TODAY WAS GOLD/SILVER/THE USA IS STILL HAVING DIFFICULTY PASSING THE TAX REFORM BILL

GOLD: $1282.85 UP $4.00

Silver: $17.08 UP 3 cents

Closing access prices:

Gold $1280.50

silver: $17.02

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: $1285.54 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1276.15

PREMIUM FIRST FIX: $9.39

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SECOND SHANGHAI GOLD FIX: $1286.85

NY GOLD PRICE AT THE EXACT SAME TIME: $1277.10

Premium of Shanghai 2nd fix/NY:$9.75

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LONDON FIRST GOLD FIX: 5:30 am est $1273.50

NY PRICING AT THE EXACT SAME TIME: $1273.20

LONDON SECOND GOLD FIX 10 AM: $1274.60

NY PRICING AT THE EXACT SAME TIME. 1273.86

For comex gold:

NOVEMBER/

NOTICES FILINGS TODAY FOR OCT CONTRACT MONTH:0 NOTICE(S) FOR nil OZ.

TOTAL NOTICES SO FAR: 991 FOR 99,100 OZ (3.082TONNES)

For silver:

NOVEMBER

2 NOTICE(S) FILED TODAY FOR10,000 OZ/

Total number of notices filed so far this month: 874 for 4,370,000 oz

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Bitcoin: BID $6545 OFFER /$6570 up $26.00 (MORNING)BITCOIN CLOSING; BID $6609 OFFER: $6637 // UP $91.00

end

Quote of the day:

*Dennis Gartman…

“We have not been of the school of thought over the years that gold is and has been manipulated by powerful forces intent upon keeping gold weak, but we shall admit that things do indeed look very, very strange in recent weeks and the “conspiratorialists” are sounding more and more plausible with each passing day.”

Just one question: what planet is he on?

h

Let us have a look at the data for today

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In silver, the total open interest FELL BY A SMALL 236 contracts from 199,358 DOWN TO 199,122 DESPITE YESTERDAY’S TRADING IN WHICH SILVER ROSE NICELY BY 16 CENTS.  AS I WAS PREPARING FOR TODAY’S REPORT I WROTE THE FOLLOWING: “JUDGING FROM THE MASSIVE VOLUME, IT LOOKS LIKE WE DID NOT GET  ANY LONG LIQUIDATION BUT AGAIN IT LOOKS LIKE WE GOT A FEW MORE COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE.” I WAS EXACTLY CORRECT AS WE HAD A HUGE 702 DECEMBER EFP’S ISSUED ALONG WITH 84 EFP’S FOR MARCH FOR A TOTAL ISSUANCE OF 786 CONTRACTS. THE ISSUANCE FOR MARCH BOTHERS ME A LOT AS THIS IS SUPPOSE TO BE FOR EMERGENCY IN THE UPCOMING DELIVERY MONTH.  I GUESS WHAT THE CME IS STATING IS THAT THERE IS NO SILVER TO BE DELIVERED UPON AT THE COMEX AND THEY MUST EXPORT THEIR OBLIGATION TO LONDON.

RESULT: A SMALL SIZED DROP IN OI COMEX WITH THE 16 CENT PRICE RISE. COMEX LONGS EXITED OUT OF THE COMEX AND FROM THE CME DATA 786 EFP’S  WERE ISSUED FOR A DELIVERABLE CONTRACT OVER IN LONDON WITH A FIAT BONUS WHICH DEFINITELY EXPLAINS THE FALL IN OI. IN ESSENCE WE DID NOT GET A FALL IN DEMAND IN OPEN INTEREST ONLY A TRANSFER TO OTHER JURISDICTIONS.

In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 0.995 BILLION TO BE EXACT or 142% 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 ROSE BY A SMALLER THAN EXPECTED 1,996 CONTRACTS DESPITE THE GOOD RISE IN PRICE OF GOLD ($4.85) WITH YESTERDAY’S TRADING . YESTERDAY’S TRADING SAW NO GOLD LEAVES FALL FROM THE GOLD TREE.  THE TOTAL NUMBER OF GOLD EFP’S ISSUED YESTERDAY TOTAL: 6577 CONTRACTS WHICH IS HUGE. THE MONTH OF DECEMBER SAW 5077 CONTRACTS AND FEB SAW THE ISSUANCE OF 1500 CONTRACTS. The new OI for the gold complex rests at 532,781.

Result: A SMALLER SIZED INCREASE IN OI DESPITE THE RISE IN PRICE IN GOLD ON YESTERDAY ($4.85). WE  HAD A HUGE NUMBER OF COMEX LONG TRANSFERS TO LONDON THROUGH THE EFP ROUTE AS (6577 EFP’S). THERE DOES NOT SEEM TO BE MUCH PHYSICAL AT THE COMEX AND WE ARE APPROACHING THE HUGE DELIVERY MONTH OF DECEMBER. WE ALSO HAD NO GOLD COMEX OI LEAVE THE COMEX GOLD ARENA. 

we had: 0 notice(s) filed upon for NIL oz of gold.

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

GLD:

A small  change in gold inventory at the GLD/ a deposit of .300 tonnes

Inventory rests tonight: 843.39 tonnes.

SLV

TODAY WE HAD NO CHANGE IN SILVER INVENTORY AT THE SLV

INVENTORY RESTS AT 318.074 MILLION OZ

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

1. Today, we had the open interest in silver FELL BY 236 contracts from 199,358 DOWN TO 199,122 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE RISE IN SILVER PRICE (A GAIN OF 16 CENTS). OUR BANKERS  USED THEIR EMERGENCY PROCEDURE TO ISSUE 702  PRIVATE EFP’S FOR DECEMBER(WE DO NOT GET A LOOK AT THESE CONTRACTS)  AND 84 EFP’S FOR MARCH, 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.  WE ALSO HAD MINIMAL SILVER COMEX LIQUIDATION. TOTAL EFP’S ISSUED YESTERDAY BY THE CME IN SILVER TOTAL 786 CONTRACTS.

RESULT: A SMALL SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE 16 CENT RISE IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). WE  HAD ANOTHER 786 EFP’S ISSUED TRANSFERRING OUR COMEX LONGS OVER TO LONDON TOGETHER WITH NO  SILVER COMEX LIQUIDATION.

(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 MONDAY night/TUESDAY morning: Shanghai closed DOWN 18.29 points or .53% /Hang Sang CLOSED DOWN 30.06 pts or 0.10% / The Nikkei closed UP 0.98 POINTS OR 0.00%/Australia’s all ordinaires CLOSED DOWN 0.80%/Chinese yuan (ONSHORE) closed UP at 6.6378/Oil DOWN to 56.52 dollars per barrel for WTI and 62.85 for Brent. Stocks in Europe OPENED RED EXCEPT LONDON . ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.6378. OFFSHORE YUAN CLOSED WEAKER TO THE ONSHORE YUAN AT 6.6431 //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

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