Gold Up $4.85 And Silver Rises 16 Cents

by Harvey Organ, Harvey Organ Blog:

CHAOS IN ENGLAND AS THERESA MAY COULD BE OUSTED AS LEADER/TENSIONS AGAIN ESCALATE THROUGHOUT THE MIDDLE EAST/GE CRASHES TODAY

GOLD: $1278.85  UP $4.85

Silver: $17.05 UP 16  cents

Closing access prices:

Gold $1278.50

silver: $17.05

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: $1288.37 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1276.60

PREMIUM FIRST FIX:  $11.77

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SECOND SHANGHAI GOLD FIX: $1288.37

NY GOLD PRICE AT THE EXACT SAME TIME: $1276.60

Premium of Shanghai 2nd fix/NY:$11.77 

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LONDON FIRST GOLD FIX:  5:30 am est  $1278.40

NY PRICING AT THE EXACT SAME TIME: $1278.10

LONDON SECOND GOLD FIX  10 AM: $1277.95

NY PRICING AT THE EXACT SAME TIME. 1277.30

For comex gold:NOVEMBER/

NOTICES FILINGS TODAY FOR OCT CONTRACT MONTH: 2 NOTICE(S) FOR  20000  OZ.

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

For silver:NOVEMBER  1 NOTICE(S) FILED TODAY FOR 5,000  OZ/Total number of notices filed so far this month: 872 for 4,360,000 oz

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Bitcoin: BID  $6729 OFFER /$6764    DOWN $308.00  (MORNING)BITCOIN CLOSING;  BID $6498 OFFER: $6523 //  UP $78.00

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Let us have a look at the data for today

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In silver, the total open interest FELL BY A SMALL  1393 contracts from 200,595 DOWN TO 199,358 WITH RESPECT TO  FRIDAY’S  TRADING IN WHICH SILVER FELL 11 CENTS. JUDGING FROM THE MASSIVE VOLUME, IT DOES NOT LOOK LIKE WE GOT SOME LONG LIQUIDATION BUT AGAIN IT LOOKS LIKE WE GOT A FEW MORE COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE.  IN SILVER THE TOTALS FOR DECEMBER EFP’S ARE 721 CONTRACTS. WE ALSO HAVE 69 MARCH EFP’S FOR A TOTAL ISSUANCE OF 790 CONTRACTS WHICH IS IN LINE WITH WHAT I HAVE THOUGHT HAS HAPPENED.

RESULT: A SMALL SIZED DROP IN OI COMEX  WITH THE 11 CENT PRICE FALL. COMEX LONGS EXITED OUT OF THE COMEX AND FROM THE CME DATA IT SEEMS THAT A HUGE NUMBER OF EFP’S WERE ISSUED  FOR A DELIVERABLE CONTRACT OVER IN LONDON WITH A FIAT BONUS WHICH DEFINITELY EXPLAINS THE FALL IN OI. 

 In ounces, the OI is still represented by just OVER 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 SMALLER THAN EXPECTED 3,786 CONTRACTS DESPITE THE GOOD SIZED FALL IN PRICE OF GOLD ($13.00) WITH FRIDAY’S TRADING . THE RAID ORCHESTRATED BY OUR BANKERS SHOULD HAVE HAD A GREATER LOSS AS THE OBJECT OF THE EXERCISE IS TO CAUSE AS MANY GOLD LEAVES FROM THE GOLD TREE AS POSSIBLE. SOME GOLD OI EXITED THROUGH THE EFP ROUTE AND SOME EXITED ALTOGETHER FORM THE COMEX ARENA. THE TOTAL NUMBER OF GOLD EFP’S ISSUED SO FAR THIS MONTH TOTAL 10,591 CONTRACTS WHICH IS HUGE. The new OI for the gold complex rests at 530,404. 

Result: A SMALLER SIZED  DECREASE IN OI DESPITE THE GOOD SIZED WHACK IN PRICE IN GOLD ON FRIDAY ($13.00). WE PROBABLY HAD SOME COMEX LONG TRANSFERS TO LONDON THROUGH THE EFP ROUTE AS THERE DOES NOT SEEM TO BE MUCH PHYSICAL AT THE COMEX AND WE ARE APPROACHING THE HUGE DELIVERY MONTH OF DECEMBER. WE ALSO HAVE SOME GOLD COMEX OI LEAVE THE ARENA WITHOUT AN EFP TRANSFER.  

we had: 2 notice(s) filed upon for 200  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

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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 1,290  contracts from 200,595  DOWN TO 199,358 (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 SOME 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 ALSO THINK THAT WE HAD SOME SILVER COMEX LIQUIDATION.  TOTAL EFP’S ISSUED BY THE CME IN SILVER TOTAL 790 CONTRACTS.

RESULT:  A SMALL 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 TRANSFERRING OUR COMEX LONGS OVER TO LONDON TOGETHER WITH SOME  SMALL SILVER 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

i)Late SUNDAY night/MONDAY morning: Shanghai closed UP 15.16 points or .44% /Hang Sang CLOSED UP 61.26 pts or 0.21% / The Nikkei closed DOWN 300.43 POINTS OR 1.32%/Australia’s all ordinaires CLOSED DOWN 0.12%/Chinese yuan (ONSHORE) closed UP  at 6.6412/Oil DOWN to 56.83 dollars per barrel for WTI and 63.47 for Brent. Stocks in Europe OPENED  RED  .  ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.6412. OFFSHORE YUAN CLOSED WEAKER TO THE ONSHORE YUAN AT 6.6533  //ONSHORE YUAN  STRONGER AGAINST THE DOLLAR/OFF SHORE STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS STRONGER AGAINST ALL MAJOR CURRENCIES. CHINA IS NOT  VERY HAPPY TODAY.

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