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Gold Up $4.15 To $1322.80 But Silver Falters: Down 6 Cents To $16.95

Friday, January 12, 2018 6:42
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by Harvey Organ, Harvey Organ Blog:

GOLD EFP’S ISSUANCE: 7571 CONTRACTS/SILVER EFP ISSUANCE: A HUGE 2020 CONTACTS

GOLD: $1322.80 UP $4.15

Silver: $16.95 DOWN 6 cents

Closing access prices:

Gold $1323.00

silver: $16.99

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: $1321.74 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1320.20

PREMIUM FIRST FIX: $1.54

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SECOND SHANGHAI GOLD FIX: $1327.77

NY GOLD PRICE AT THE EXACT SAME TIME: $1318.00

Premium of Shanghai 2nd fix/NY:$9.77

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1319.85

NY PRICING AT THE EXACT SAME TIME: $1319.20

LONDON SECOND GOLD FIX 10 AM: $1323.25

NY PRICING AT THE EXACT SAME TIME. $1322.80

For comex gold:

JANUARY/

NUMBER OF NOTICES FILED TODAY FOR JANUARY CONTRACT: 0 NOTICE(S) FOR nil OZ.

TOTAL NOTICES SO FAR: 256 FOR 25600 OZ (0.7962 TONNES),

For silver:

jANUARY

0 NOTICE(S) FILED TODAY FORnil OZ/

Total number of notices filed so far this month: 537 for 2,685,000 oz

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Bitcoin: BID $13,444/OFFER $13,545 DOWN $1408 (morning) Bitcoin: BID   13,248/OFFER  $13,365 DOWN  $1590(CLOSING) 

end

Let us have a look at the data for today

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In silver, the total open interest ROSE BY A CONSIDERABLE 1651 contracts from 195,009 RISING TO 196,660 DESPITE YESTERDAY’S TINY 3 CENT RISE IN SILVER PRICING.  WE HAD NO COMEX LIQUIDATION BUT WITHOUT A DOUBT WE WITNESSED ANOTHER FAILED MAJOR BANK SHORT- COVERING OPERATION. NOT ONLY THAT , WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: A HUGE 2020 EFP’S FOR MARCH (AND ZERO FOR OTHER MONTHS) AND THUS TOTAL ISSUANCE OF 2020 CONTRACTS. HOWEVER THE MOVEMENT ACROSS TO LONDON IS NOT AS SEVERE AS IN GOLD AS THERE SEEMS TO BE A MAJOR PLAYER TAKING ON THE BANKS AT THE COMEX. STILL, WITH THE TRANSFER OF 2020 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. YESTERDAY WITNESSED  EFP’S FOR SILVER ISSUED. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24 HRS IN THE ISSUING OF EFP’S. I BELIEVE THAT WE MUST HAVE HAD SOME MAJOR BANKER SHORT COVERING AGAIN TODAY.

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

22,727 CONTRACTS (FOR 9 TRADING DAYS TOTAL 22,727 CONTRACTS OR 113.630 MILLION OZ: AVERAGE PER DAY: 2525 CONTRACTS OR 12.625 MILLION OZ/DAY)

RESULT: A HUGE SIZED GAIN IN OI COMEX DESPITE THE TINY 3 CENT RISE IN SILVER PRICE WHICH USUALLY INDICATES ANOTHER FAILED BANKER SHORT-COVERING. WE ALSO HAD A FAIR SIZED  EFP ISSUANCE OF 2020 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS.  FROM THE CME DATA 2020 EFP’S WERE ISSUED FOR TODAY (FOR MARCH EFP’S AND NONE FOR ALL OTHER MONTHS) FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE REALLY GAINED 3,671 OI CONTRACTS i.e. 2020 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 1651  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE TINY RISE IN PRICE OF SILVER OF 3 CENTS AND A CLOSING PRICE OF $17.01 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. 0.9830 BILLION TO BE EXACT or 140% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JANUARY MONTH/ THEY FILED: 0 NOTICE(S) FOR NIL OZ OF SILVER

In gold, the open interest ROSE BY A HUMONGOUS SIZED 11,980 CONTRACTS UP TO 567,435 WITH THE  RISE IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($6.05). IN ANOTHER HUGE DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED YESTERDAY FOR TODAY AND IT TOTALED A GOOD SIZED  7571 CONTRACTS OF WHICH THE MONTH OF FEBRUARY SAW 7581 CONTRACTS AND APRIL SAW THE ISSUANCE OF 0 CONTRACTS.  The new OI for the gold complex rests at 567,435. 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. 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 GOOD GAIN OF 19,551 OI CONTRACTS: 11,980 OI CONTRACTS INCREASED AT THE COMEX AND A GOOD SIZED 7571 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.

YESTERDAY, WE HAD 9593 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JANUARY STARTING WITH FIRST DAY NOTICE: 80,432 CONTRACTS OR 8.0432 MILLION OZ OR 250.17 TONNES (9 TRADING DAYS AND THUS AVERAGING: 8,936 EFP CONTRACTS PER TRADING DAY OR 893,600 OZ/DAY)

Result: A HUMONGOUS SIZED INCREASE IN OI AT THE COMEX WITH THE  RISE IN PRICE IN GOLD TRADING ON YESTERDAY ($6.05). WE HAD ANOTHER FAIR SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 7571. 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 7571 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 19,551 contracts:

7571 CONTRACTS MOVE TO LONDON AND  11,980 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the gain in total oi equates to 60.81 TONNES)

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

With gold up again, we had another strange withdrawal today from the GLD:  ANOTHER IDENTICAL 2.95 tonnes

Inventory rests tonight: 828.96 tonnes.

SLV/ 

NO CHANGES IN SILVER INVENTORY AT THE SLV/

INVENTORY RESTS AT 316.348 MILLION OZ/

end

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

1. Today, we had the open interest in silver ROSE BY A CONSIDERABLE 1652 contracts from 195,009 UP TO 196,660 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE  THE TINY RISE IN PRICE OF SILVER TO THE TUNE OF 3 CENTS  YESTERDAY.  WE HAD WITHOUT A DOUBT ANOTHER FAILED  SHORT COVERING FROM OUR BANKERS AS THEY HAVE CAPITULATED. NOT ONLY THAT BUT OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 2020 PRIVATE EFP’S FOR MARCH (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM).  EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. WE HAD NO COMEX SILVER COMEX LIQUIDATION. BUT, IF WE TAKE THE STRONG OI GAIN AT THE COMEX OF 1651 CONTRACTS TO THE 2020 OI TRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A GAIN OF 3671 OPEN INTEREST CONTRACTS IN CONJUNCTION WITH THE FAILED  BANKER SHORT COVERING. WE STILL HAVE A GOOD AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN JANUARY (SEE BELOW). THE NET GAIN TODAY IN OZ: 18.36 MILLION OZ!!!

RESULT: A STRONG SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE TINY RISE OF 3 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). BUT WE ALSO HAD ANOTHER 2020 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 WEDNESDAY night/THURSDAY morning: Shanghai closed UP 3.51 points or 0.10% /Hang Sang CLOSED UP 46.67 pts or 0.15% / The Nikkei closed DOWN 77.77 POINTS OR 0.33%/Australia’s all ordinaires CLOSED DOWN 0.48%/Chinese yuan (ONSHORE) closed DOWN at 6.5080/Oil UP to 63.97 dollars per barrel for WTI and 69.42 for Brent. Stocks in Europe OPENED MOSTLY MIXED LEANING TO RED.   ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.5080. OFFSHORE YUAN CLOSED DOWN AGAINST  THE ONSHORE YUAN AT 6.5130 //ONSHORE YUAN  WEAKER AGAINST THE DOLLAR/OFF SHORE STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  STRONGER AGAINST ALL MAJOR CURRENCIES. CHINA IS STILL  HAPPY TODAY.(GOOD MARKETS )

Read More @ HarveyOrganBlog.com



Source: https://www.sgtreport.com/articles/2018/1/12/gold-up-415-to-132280-but-silver-falters-down-6-cents-to-1695

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