Raid on Gold and Silver Due to Options Expiry

by Harvey Organ, Harvey Organ Blog:

GOLD DOWN $13.80/SILVER DOWN 17 CENTS/ATLANTA FED SURPRISES EVERYONE BY LOWERING ITS ESTIMATE OF FIRST QUARTER GDP TO 2.6%/MORE SWAMP STORIES

GOLD: $1317.40 down $13.80

Silver: $16.43 down 17 cents

Closing access prices:

Gold $1318.60

silver: $16.43

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: $1342.38 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1334.10

PREMIUM FIRST FIX: $8.28

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SECOND SHANGHAI GOLD FIX: $1341.75

NY GOLD PRICE AT THE EXACT SAME TIME: $1332.70

discount of Shanghai 2nd fix/NY:$8.05

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LONDON FIRST GOLD FIX: 5:30 am est $1332.75

NY PRICING AT THE EXACT SAME TIME: $1333.70

LONDON SECOND GOLD FIX 10 AM: $1325.75

NY PRICING AT THE EXACT SAME TIME. $1326.45

For comex gold:

FEBRUARY/

NUMBER OF NOTICES FILED TODAY FOR FEBRUARY CONTRACT: 124 NOTICE(S) FOR 12400 OZ.

TOTAL NOTICES SO FAR:2749 FOR 274900 OZ (8.5505 TONNES),

For silver:

FEBRUARY

0 NOTICE(S) FILED TODAY FORNIL OZ/

Total number of notices filed so far this month: 407 for 2,035,000 oz

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Bitcoin: BID $10,658/OFFER $10,728: up $378(morning)Bitcoin: BID/ $10,750/offer $10,820: UP $471  (CLOSING/5 PM) 

end

We are now entering options expiry week for the big gold and silver contracts for the LBMA/OTC contracts. Comex options expired on Friday.

AS FOR THE DATA TODAY, THE GOLD NUMBERS ARE FINAL

THE TOTAL SILVER OI NUMBERS ARE ACCURATE AND FINAL

BUT ALL OTHER SILVER NUMBERS ARE JUST PRELIMINARY

I WILL TRY AND UPDATE THEM AS SOON AS THE CROOKS FUDGE THE DATA PROPERLY.

H

Let us have a look at the data for today

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In silver, the total open interest FELL BY A CONSIDERABLE SIZED 4438 contracts from 196,437  FALLING TO 191,999 DESPITE  YESTERDAY’S 8 CENT GAIN IN SILVER PRICING.  WE HAD CONSIDERABLE COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  872 EFP’S FOR MARCH AND AND 336 EFP’S FOR MAY AND ZERO FOR ALL  OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 1208 CONTRACTS.  WITH THE TRANSFER OF 1208 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 1208 CONTRACTS TRANSLATES INTO 6.04 MILLION OZ DESPITE  WITH THE CONTINUAL DROP IN OPEN INTEREST IN SILVER AT THE COMEX.

ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF FEBRUARY:

46,340 CONTRACTS (FOR 19 TRADING DAYS TOTAL 46,340 CONTRACTS OR 231.770 MILLION OZ: AVERAGE PER DAY: 2438 CONTRACTS OR 12.194 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  231.770 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 33.10% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:  480.23 MILLION OZ.

ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ

RESULT: A CONSIDERABLE SIZED LOSS IN OI SILVER COMEX DESPITE THE 8 CENT GAIN IN SILVER PRICE.  WE ALSO HAD A GOOD SIZED EFP ISSUANCE OF 1208 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 1208 EFP’S  FOR  MONTHS MARCH AND MAY WERE ISSUED FOR  A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS.   WE LOST  3230 OI CONTRACTS i.e. 1208 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 4438 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE RISE IN PRICE OF SILVER OF 8 CENTS AND A CLOSING PRICE OF $16.60 WITH RESPECT TO FRIDAY’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. 0.9635 BILLION TO BE EXACT or 141% of annual global silver production (ex Russia & ex China).

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

In gold, the open interest  ROSE BY A HUGE 6011 CONTRACTS RISING TO 532,649 DESPITE THE SMALL RISE IN PRICE OF GOLD WITH RESPECT TO YESTERDAY’S TRADING ($2.40). HOWEVER, IN ANOTHER DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FOR MONDAYAND IT TOTALED AN GOOD SIZED  7855 CONTRACTS OF WHICH  APRIL SAW THE ISSUANCE OF 7855 CONTRACTS AND  JUNE SAW THE ISSUANCE OF 0 CONTRACTS AND THEN ALL OTHER MONTHS ZERO.    The new OI for the gold complex rests at 532,649. 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 WE HAVE A GAIN OF 13,866  CONTRACTS: 6011 OI CONTRACTS INCREASED AT THE COMEXAND A GOOD SIZED  7855 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.(13,742 oi gain in CONTRACTS EQUATES TO 43.12TONNES)

YESTERDAY, WE HAD 2651 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF FEBRUARY STARTING WITH FIRST DAY NOTICE: 195,225 CONTRACTS OR 19,522,500  OZ OR 607.23 TONNES (19 TRADING DAYS AND THUS AVERAGING: 10,275EFP CONTRACTS PER TRADING DAY OR 1,027,500 OZ/ TRADING DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 19 TRADING DAYS: IN  TONNES: 607.23 TONNES

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

THUS EFP TRANSFERS REPRESENTS 607.23/2200 x 100% TONNES =  27.60% OF GLOBAL ANNUAL PRODUCTION SO FAR IN FEBRUARY ALONE.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  1240.61 TONNES

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

Result: A  STRONG SIZED INCREASE IN OI AT THE COMEX DESPITE THE SMALL RISE IN PRICE IN GOLD TRADING YESTERDAY ($2.40).  HOWEVER, WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 7855 CONTRACTS 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 7855 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 13,866 contracts ON THE TWO EXCHANGES:

7855 CONTRACTS MOVE TO LONDON AND  6011 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 43.12 TONNES).

we had: 124 notice(s) filed upon for 12400 oz of gold.

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

GLD

WITH GOLD DOWN $13.80 : NO CHANGES IN GOLD INVENTORY AT THE GLD OF GOLD INTO THE GLD

Inventory rests tonight: 831.03 tonnes.

SLV/

WITH SILVER DOWN 17 CENTs TODAY: 

NO CHANGES IN SILVER INVENTORY AT THE SLV

/INVENTORY RESTS AT 316.590 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 4438  contracts from 196,437 DOWN TO 191,999 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH THE RISE  IN PRICE OF SILVER  (8 CENT WITH RESPECT TO  YESTERDAY’S TRADING).  OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER GOOD 872 PRIVATE EFP’S FOR MARCH AND 336 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 CONSIDERABLE COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE  OI LOSS AT THE COMEX OF  4438 CONTRACTS TO THE 1208 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A  LOSS OF 3230  OPEN INTEREST CONTRACTS .  WE STILL HAVE A GOOD AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN FEBRUARY (SEE BELOW). THE NET LOSS TODAY IN OZ ON THE TWO EXCHANGES:  16.150 MILLION OZ!!!

RESULT: A CONSIDERABLE SIZED DECREASE IN SILVER OI AT THE COMEX WITH THE  RISE OF 8 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING ). BUT WE ALSO HAD ANOTHER GOOD 1208 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)

.

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 TUESDAY MORNING/MONDAY NIGHT: Shanghai closed DOWN 37.51 POINTS OR 1.13% /Hang Sang CLOSED DOWN 229.94 POINTS OR 0.73% / The Nikkei closed DOWN 236.23 POINTS OR 1.07%/Australia’s all ordinaires CLOSED UP 0.21%/Chinese yuan (ONSHORE) closed UP at 6.3120/Oil UP to 63.61 dollars per barrel for WTI and 67.25 for Brent. Stocks in Europe OPENED DEEPLY IN THE RED  .   ONSHORE YUAN CLOSED UP AT 6.3120 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3030 /ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING MUCH STRONGER AGAINST THE DOLLAR AND ALL OTHER CURRENCIES. CHINA IS NOT  HAPPY TODAY (STRONGER CURRENCY BUT WEAKER MARKETS) 

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