Gold Rises by $12.00 to $1324.00/Silver up a Stellar 40 Cents to $16.60

by Harvey Organ, Harvey Organ Blog:

SYRIAN ROCKETS DOWN AN ISRAELI FIGHTER JET INSIDE ISRAEL AND ISRAEL REACTS TAKING OUT A HUGE NUMBER OF SYRIAN/IRANIAN MILITARY POSITIONS/TRUMP DETAILS HIS 4 TRILLION DOLLAR BUDGET PLAN AND HIS HUGE SPENDING WILL BE GOOD FOR GOLD/MORE SWAMP STORIES FOR YOU TODAY

GOLD: $1324.60 UP $12.00

Silver: $16.60 UP 40 cents

Closing access prices:

Gold $1323.00

silver: $16.56

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: $1331.29 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1324.00

PREMIUM FIRST FIX: $7.90

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SECOND SHANGHAI GOLD FIX: $1326.24

NY GOLD PRICE AT THE EXACT SAME TIME: $1323.90

Premium of Shanghai 2nd fix/NY:$2.34

SHANGHAI REJECTS  NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1321.70

NY PRICING AT THE EXACT SAME TIME: $1321.00

LONDON SECOND GOLD FIX 10 AM: $1322.30

NY PRICING AT THE EXACT SAME TIME. $1321.10

For comex gold:

FEBRUARY/

NUMBER OF NOTICES FILED TODAY FOR FEBRUARY CONTRACT: 50 NOTICE(S) FOR 5000 OZ.

TOTAL NOTICES SO FAR:1783 FOR 178300 OZ (5.458 TONNES),

For silver:

FEBRUARY

16 NOTICE(S) FILED TODAY FOR80,000 OZ/

Total number of notices filed so far this month: 215 for 1,075,000 oz

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Bitcoin: BID $8692/OFFER $8763: up $381(morning)Bitcoin: BID/ $8311/offer $8845: UP $463  (CLOSING/5 PM) 

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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 A CONSIDERABLE SIZED 2828 contractsfrom 193,135  RISING TO 196,163 DESPITE  FRIDAY’S GOOD 18 CENT LOSS IN SILVER PRICING.  WE  HAD ZERO 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:  2694 EFP’S FOR MARCH AND AND 139 EFP’S FOR MAY AND ZERO FOR ALL  OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 2833 CONTRACTS.  WITH THE TRANSFER OF 2833 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. THE 2833 CONTRACTS TRANSLATES INTO 14.16 MILLION OZ.  WITH THE HUGE DROP IN OPEN INTEREST AT THE COMEX. WE SHOULD EXPECT BIGGER GAINS IN EFP TRANSFERS IN THE NEXT FEW DAYS WITH THE LARGE LOSS AT THE COMEX AS LONGS GAVE UP SEEKING METAL AT THIS EXCHANGE.

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

30,392 CONTRACTS (FOR 9 TRADING DAYS TOTAL 30,392 CONTRACTS OR 151.960 MILLION OZ: AVERAGE PER DAY: 3376 CONTRACTS OR 16.884 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  151.96 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 21.7% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:  381.9 MILLION OZ.

ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ

RESULT: A GOOD SIZED GAIN IN OI SILVER COMEX DESPITE THE CONSIDERABLE  18 CENT LOSS IN SILVER PRICE.  WE HOWEVER HAD A GOOD SIZED EFP ISSUANCE OF 2833 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 2833 EFP’S  FOR  MONTHS MARCH AND MAY WERE ISSUED FOR MONDAY  FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS.   WE GAINED  5523 OI CONTRACTS i.e. 2833 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 2829  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE CONSIDERABLE FALL IN PRICE OF SILVER OF  18 CENTS AND A CLOSING PRICE OF $16.20 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A FAIR 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. 0.980 BILLION TO BE EXACT or 140% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT FEBRUARY MONTH/ THEY FILED: 16 NOTICE(S) FOR 80,000 OZ OF SILVER

In gold, the open interest FELL  BY ANOTHER CONSIDERABLE 6,968 CONTRACTS DOWN TO 510,740  WITH THE FAIR SIZED FALL IN PRICE OF GOLD WITH FRIDAY’S TRADING ($4.70). HOWEVER, IN ANOTHER DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FOR MONDAY AND IT TOTALED A FAIR SIZED  7526 CONTRACTS OF WHICH  APRIL SAW THE ISSUANCE OF 7526 CONTRACTS AND  JUNE SAW THE ISSUANCE OF 0 CONTRACTS AND THEN ALL OTHER MONTHS ZERO.    The new OI for the gold complex rests at 510,740. ALSO REMEMBER THAT THERE WILL 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 FEBRUARY 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 DESPITE YESTERDAY’S TRADING IN GOLD,  WE HAVE A GAIN OF 658 CONTRACTS: 6968 OI CONTRACTS DECREASED AT THE COMEX AND A STRONG SIZED  7526 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.(658 oi gain in CONTRACTS EQUATES TO 2.046 TONNES)

FRIDAY, WE HAD 14,716 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF FEBRUARY STARTING WITH FIRST DAY NOTICE: 98,896 CONTRACTS OR 9,889,600  OZ OR 307.60 TONNES (9 TRADING DAYS AND THUS AVERAGING: 10,988 EFP CONTRACTS PER TRADING DAY OR 1,098,800 OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 9 TRADING DAYS: IN  TONNES: 307.60 TONNES

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

THUS EFP TRANSFERS REPRESENTS 307.6/2200 x 100% TONNES =  13.98% OF GLOBAL ANNUAL PRODUCTION SO FAR IN FEBRUARY ALONE.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  941.12 TONNES

ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018: 653.22  TONNES

Result: A  CONSIDERABLE SIZED DECREASE IN OI AT THE COMEX DESPITE THE FAIR SIZED FALL IN PRICE IN GOLD TRADING FRIDAY ($4.70). IT IS WITHOUT A DOUBT THAT MANY OF THE DEPARTED COMEX LONGS  RECEIVED THEIR PRIVATE EFP CONTRACT  FOR EITHER  APRIL OR JUNE. HOWEVER, WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 7526 AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED.   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 7526 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 658 contracts ON THE TWO EXCHANGES:

7526 CONTRACTS MOVE TO LONDON AND  6968 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 2.045 TONNES).

we had: 50 notice(s) filed upon for 5000 oz of gold.

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

GLD

WITH GOLD UP $12.00 TODAY, THE CROOKS WITHDREW ANOTHER 5.6 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 820.71

Inventory rests tonight: 820.71 tonnes.

SLV/ (IN TOTAL CONTRAST TO GOLD)

NO CHANGES IN SILVER INVENTORY AT THE SLV/ AGAIN WITH TODAY’S HUGE RISE IN SILVER PRICE:   NO CHANGE IN INVENTORY

/INVENTORY RESTS AT 314.045 MILLION OZ/

can someone please explain why GLD behaves differently to SLV????

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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 A CONSIDERABLE 2829  contracts from 193,135 UP TO 195,964 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE  THE GOOD SIZED  FALL  IN PRICE OF SILVER  (18 CENTS WITH RESPECT TO  FRIDAY’S TRADING).   OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER GOOD 3215 PRIVATE EFP’S FOR MARCH AND 0 EFP CONTRACTS OR MAY  (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 SOME COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE  OI GAIN AT THE COMEX OF  2829 CONTRACTS TO THE 2833 OI TRANSFERRED TO LONDON THROUGH EFP’S, SURPRISINGLY WE OBTAIN A GAIN OF  5523  OPEN INTEREST CONTRACTS DESPITE FRIDAY’S DRUBBING IN SILVER PRICE.  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:  27.61 MILLION OZ!!!

RESULT: A GOOD SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE CONSIDERABLE SIZED FALL OF 18 CENTS IN PRICE (WITH RESPECT TO FRIDAY’S TRADING ). BUT WE ALSO HAD ANOTHER GOOD 2833 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE GOOD  SIZED AMOUNT OF SILVER OUNCES STANDING FOR FEBRUARY, DEMAND FOR PHYSICAL SILVER INTENSIFIES AS WE WITNESS MAJOR BANK SHORT COVERING ACCOMPANIED BY INCREASES IN GOFO AND SIFO RATES INDICATING SCARCITY.

(report Harvey)

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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 24.27 points or 0.78% /Hang Sang CLOSED DOWN 47.79 or 0.16% / The Nikkei closed HOLIDAY/Australia’s all ordinaires CLOSED UP 0.30%/Chinese yuan (ONSHORE) closed DOWN at 6.3286/Oil DOWN to 60.26 dollars per barrel for WTI and 63.65 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN .   ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.3286. OFFSHORE YUAN CLOSED DOWN AGAINST  THE ONSHORE YUAN AT 6.3346//ONSHORE YUAN A LOT WEAKER AGAINST THE DOLLAR/OFF SHORE A LOT WEAKER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  MUCH WEAKER AGAINST ALL MAJOR CURRENCIES EXCEPT CHINA YUAN.  CHINA IS   HAPPY TODAY STRONGER MARKETS IN CHINA 

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