Gold Rises $10.40 To $1292.40 And Silver Rises 13 Cents

by Harvey Organ, Harvey Organ Blog:

SILVER SEES COMEX SILVER OI RISE BY 1919 CONTRACTS AND ON TOP OF THAT ANOTHER 1231 EXCHANGE FOR PHYSICAL CONTRACTS MOVE FOR A LONDON FORWARD/FOMC MINUTES SHOW FED DOVISH IN HOW THEY ARE HANDLING THE ECONOMY

GOLD: $1292.40  UP $10.40

Silver: $17.13 UP 13 cents

Closing access prices:

Gold $1292.60

silver: $17.15

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: $1290.11 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1279.65

PREMIUM FIRST FIX: $10.46

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SECOND SHANGHAI GOLD FIX: $1291.12

NY GOLD PRICE AT THE EXACT SAME TIME: $1282.65

Premium of Shanghai 2nd fix/NY:$8.47

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LONDON FIRST GOLD FIX: 5:30 am est $1283.95

NY PRICING AT THE EXACT SAME TIME: $1282.85

LONDON SECOND GOLD FIX 10 AM: $1286.95

NY PRICING AT THE EXACT SAME TIME. 1288.00

For comex gold:

NOVEMBER/

 NUMBER OF NOTICES FILED TODAY FOR NOVEMBER CONTRACT:  0 NOTICE(S) FOR NIL OZ.

TOTAL NOTICES SO FAR: 1053 FOR 105,300 OZ (3.375 TONNES)

For silver:

NOVEMBER

1 NOTICE(S) FILED TODAY FOR5000 OZ/

Total number of notices filed so far this month: 885 for 4,425,000 oz

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Bitcoin: BID $8260 OFFER /$8287 up $173.00 (MORNING)BITCOIN : BID $8175 OFFER: $8199 // UP $81 (CLOSING)

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Let us have a look at the data for today

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In silver, the total open interest ROSE BY  1919 contracts from 197,483 UP TO 199,402 WITH RESPECT TO YESTERDAY’S TRADING  WHICH SAW SILVER RISE BY 7 CENTS AND STILL WELL BELOW THE HUGE $17.25 SILVER RESISTANCE.   WE HAD NO LONG COMEX LIQUIDATION.   WE WERE ALSO NOTIFIED THAT WE HAD  ANOTHER HUMONGOUS NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE : 1106 DECEMBER EFP’S WERE ISSUED ALONG WITH 125 EFP’S FOR MARCH FOR A TOTAL ISSUANCE OF 1231 CONTRACTS. (THE ISSUANCE FOR MARCH THAT WE HAVE SEEN THESE PAST FEW DAYS 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 AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. YESTERDAY WITNESSED  1078 EFP’S ISSUED.

RESULT: A MEDIUM SIZED RISE IN OI COMEX WITH THE 7 CENT PRICE RISE.  WE HAD NO COMEX LONGS  EXITED OUT OF THE SILVER COMEX .  HOWEVER FROM THE CME DATA 1231 EFP’S  WERE ISSUED FOR TUESDAY FOR A DELIVERABLE CONTRACT OVER IN LONDON WITH A FIAT BONUS. IN ESSENCE THE  DEMAND FOR SILVER PHYSICAL INTENSIFIES GREATLY. WE REALLY GAINED IN OI 3150 CONTRACTS i.e.  1231 open interest contracts headed for London (EFP’s) and another increase of 1919 contracts standing at the silver comex

In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.997 BILLION TO BE EXACT or 142% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT OCT MONTH/ THEY FILED: 1 NOTICE(S) FOR 5,000 OZ OF SILVER

In gold, the open interest FELL  BY A GIGANTIC 18,949 CONTRACTS DESPITE THE FAIR SIZED RISE IN PRICE OF GOLD ($5.10) WITH RESPECT TO YESTERDAY’S TRADING. WE HAD CONSIDERABLE COMEX LONGS EXIT THE ARENA.  HOWEVER  THE TOTAL NUMBER OF GOLD EFP’S ISSUED YESTERDAY FOR TODAY  TOTALED  ANOTHER 8,101 CONTRACTS OF WHICH THE MONTH OF DECEMBER SAW 8036 CONTRACTS AND FEB SAW THE ISSUANCE OF 65 CONTRACTS. YESTERDAY, WE WITNESSED A TOTAL OF 21,428 EFP’S ISSUED FOR YESTERDAY.  The new OI for the gold complex rests at 531,612.DEMAND FOR GOLD INTENSIFIES DESPITE THE CONSTANT RAIDS.  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 METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NOT 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 AND ON TOP OF THAT IT IS TAKING A FURTHER 6 TO 10 WEEKS TO OBTAIN PHYSICAL FROM THE POINT WHEN FORWARDS BECOME DUE. IN ESSENCE WE HAD A NET LOSS OF 10,848 OI CONTRACTS: 18,949 OI CONTRACTS LEAVE THE COMEX  BUT 8101 OI CONTRACTS NAVIGATE OVER TO LONDON.

Result: A HUGE SIZED DECREASE IN OI  WITH THE FAIR SIZED RISE IN PRICE IN GOLD ON YESTERDAY ($5.10). WE  HAD AN LARGE  NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 8,101. THERE OBVIOUSLY DOES NOT SEEM TO BE ANY PHYSICAL GOLD AT THE COMEX AN YET WE ARE APPROACHING THE HUGE DELIVERY MONTH OF DECEMBER. I GUESS IT EXPLAINS THE HUGE ISSUANCE OF EFP’S…THERE IS NO GOLD PRESENT AT THE GOLD COMEX.  IF YOU TAKE INTO ACCOUNT THE 8101 EFP CONTRACTS ISSUED, WE HAD A NET LOSS OPEN INTEREST OF 10,848:  8101 CONTRACTS MOVE TO LONDON AND 18,949 LEAVE THE COMEX.

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:

No change in gold inventory at the GLD/

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 ROSE BY 1919 contracts from 197,483 UP  TO 199,402 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH THE RISE IN SILVER PRICE (A GAIN OF 7 CENTS ). HOWEVER, OUR BANKERS  USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER HUGE  1106  PRIVATE EFP’S FOR DECEMBER (WE DO NOT GET A LOOK AT THESE CONTRACTS)  AND 125 EFP’S FOR MARCH FOR A TOTAL OF 1231 EFP CONTRACTS.  EFP’S GIVE 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 ZERO SILVER COMEX LIQUIDATION. IF WE ADD THE OI GAIN AT THE COMEX (1919 CONTRACTS) i.e. THOSE STAYING WAITING FOR COMEX SILVER DELIVERY,  TO THE 1231 OI TRANSFERRED TO EFP’S AND THUS OVER TO LONDON FOR FORWARDS, WE OBTAIN A NET GAIN (DEMAND) OF 3150 OPEN INTEREST CONTRACTS,

RESULT: A FAIR SIZED INCREASE IN SILVER OI AT THE COMEX WITH THE 7 CENT RISE IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). NOT ONLY THAT BUT  WE ALSO  HAD ANOTHER 1231 EFP’S ISSUED.. TRANSFERRING OUR COMEX LONGS OVER TO LONDON .  YESTERDAY WE EXPERIENCED 2998 EFP’S ISSUED FOR TRANSFER TO LONDON.

(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 TUESDAY night/WEDNESDAY morning: Shanghai closed UP 19.97 points or .59% /Hang Sang CLOSED UP 185.42 pts or 0.62% / The Nikkei closed UP 106.67 POINTS OR 0.48%/Australia’s all ordinaires CLOSED UP 0.39%/Chinese yuan (ONSHORE) closed UP at 6.6180/Oil UP to 57.81 dollars per barrel for WTI and 63.15 for Brent. Stocks in Europe OPENED GREENM EXCEPT GERMAN DAX . ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.6180. OFFSHORE YUAN CLOSED AT VALUE TO THE ONSHORE YUAN AT 6.6179 //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.(MARKETS STRONG)

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