Another Raid By Our Banker Friends On Gold/silver: Gold Down $8.00 To $1326.60 While Silver Is Down 27 Cents To $16.77

by Harvey Organ, Harvey Organ Blog:

HUGE EFP ISSUANCE FOR BOTH GOLD AND SILVER: GOLD EFP ISSUANCE: 14232/SILVER EFP ISSUANCE: 4470,/GARY COHN RESIGNS TENDING THE NEW YORK MARKETS SOUTHBOUND/TRUMP SET TO INITIATE STEEL AND ALUMINUM TARIFFS STARTING TOMORROW/HUGE TRADE DEFICIT OF ALMOST 56 BILLION DOLLARS LAST MONTH DESPITE THE LOWER DOLLAR: THIS WILL CAUSE A FURTHER REDUCTION IN FIRST QUARTER GDP/MORE SWAMP STORIES

GOLD: $1326.60  DOWN $8.00

Silver: $16.50 DOWN 27 CENTS

Closing access prices:

Gold $1325.40

silver: $16.50

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: $1341.05 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1335.00

PREMIUM FIRST FIX: $6.05

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SECOND SHANGHAI GOLD FIX: $1340.26

NY GOLD PRICE AT THE EXACT SAME TIME: $1333.75

PREMIUM SECOND FIX /NY:$6.51

SHANGHAI REJECTS NY PRICING OF GOLD.

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LONDON FIRST GOLD FIX: 5:30 am est $1332.50

NY PRICING AT THE EXACT SAME TIME: $1333.10

LONDON SECOND GOLD FIX 10 AM: $1329.40

NY PRICING AT THE EXACT SAME TIME. $1330.44???

For comex gold:

MARCH/

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

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

For silver:

MARCH

302 NOTICE(S) FILED TODAY FOR1510,000 OZ/

Total number of notices filed so far this month: 4524 for 22,620,000 oz

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Bitcoin: BID $10,557/OFFER $10,627: DOWN $129(morning)Bitcoin: BID/ $9907/offer $9978: DOWN $777  (CLOSING/5 PM) 

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 SIZED 3100 contracts from 193,489  RISING TO 196,590  WITH YESTERDAY’S HUGE 38 CENT RISE IN SILVER PRICING.  WE OBVIOUSLY HAD ZERO 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 : 4470 EFP’S FOR MAY AND ZERO FOR ALL  OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 4470 CONTRACTS.  WITH THE TRANSFER OF 4470 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 24-48 HRS IN THE ISSUING OF EFP’S. THE 4440 CONTRACTS TRANSLATES INTO 22.35 MILLION OZ   WITH THE RISE 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 MARCH:

12,977 CONTRACTS (FOR 5 TRADING DAYS TOTAL 12,977 CONTRACTS OR 64.89 MILLION OZ: AVERAGE PER DAY: 2595 CONTRACTS OR 12.977 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  64.89 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 9.27% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:  557.36 MILLION OZ.

ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ

ACCUMULATION FOR MONTH OF FEBRUARY: 244.945 MILLION OZ

RESULT: WE HAD ZERO LOSS  IN COMEX OI SILVER COMEX WITH THE 18 CENT GAIN IN SILVER PRICE.  WE ALSO HAD A GOOD SIZED EFP ISSUANCE OF 4470 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 4470 EFP’S  FOR THE  MONTH OF MAY WERE ISSUED FOR  A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS.   WE GAINED  7570 OI CONTRACTS i.e. 4470 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 3100  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE RISE IN PRICE OF SILVER OF 38 CENTS AND A CLOSING PRICE OF $16.77 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. 0.968 BILLION TO BE EXACT or 138% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT FEBRUARY MONTH/ THEY FILED: 17 NOTICE(S) FOR 85,000 OZ OF SILVER

In gold, the open interest  ROSE BY A STRONG 8,498 CONTRACTS RISING TO 508,100 . WITH THE CONSIDERABLE RISE IN PRICE YESTERDAY ($15.60) HOWEVER  FOR TUESDAY, THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED AN HUGE SIZED  14,232 CONTRACTS  THE ISSUANCE OF,  APRIL SAW THE ISSUANCE OF 14,232 CONTRACTS ,  JUNE SAW THE ISSUANCE OF 0 CONTRACTS AND THEN ALL OTHER MONTHS ZERO.    The new OI for the gold complex rests at 508,100. 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  AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES. IN ESSENCE WE HAVE A HUGE GAIN  CONTRACTS: 8498 OI CONTRACTS INCREASED AT THE COMEXAND A HUGE SIZED 14232 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.(22,730 oi GAIN in CONTRACTS EQUATES TO 37.85 TONNES)

YESTERDAY, WE HAD 4962 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MARCH : 54,267 CONTRACTS OR 5,426,700  OZ OR 168.79 TONNES (5 TRADING DAYS AND THUS AVERAGING: 10,855 EFP CONTRACTS PER TRADING DAY OR 1,085,500 OZ/ TRADING DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 5 TRADING DAYS IN  TONNES: 168.79 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES

THUS EFP TRANSFERS REPRESENTS 168.79/2550 x 100% TONNES =  6.59% OF GLOBAL ANNUAL PRODUCTION SO FAR IN MARCH ALONE.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  1420.99 TONNES

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

ACCUMULATION OF GOLD EFP’S FOR FEBRUARY: 649.45 TONNES

Result: A  STRONG SIZED INCREASE IN OI AT THE COMEX WITH THE CONSIDERABLE RISE IN PRICE IN GOLD TRADING YESTERDAY ($15.60).  HOWEVER, WE HAD ANOTHER HUGE SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 14,232 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 14232 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 22,730 contracts ON THE TWO EXCHANGES:

14232 CONTRACTS MOVE TO LONDON AND 8,498 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 37.85 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 DOWN $8.00 : A SLIGHT CHANGES IN GOLD INVENTORY AT THE GLD /A WITHDRAWAL OF .25 TONNES TO PAY FOR FEES.

Inventory rests tonight: 833.73 tonnes.

SLV/

WITH SILVER DOWN 27 CENTS TODAY: 

NO CHANGES IN SILVER INVENTORY AT THE SLV/

/INVENTORY RESTS AT 318.069 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 3100  contracts from 193,489 UP TO 196,590 (AND now A LITTLE  CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH THE CONSIDERABLE PRISE  IN PRICE OF SILVER  (38 CENTS WITH RESPECT TO  YESTERDAY’S TRADING).   OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER  4470 EFP CONTRACTS FOR 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 ZERO COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE  OI GAIN AT THE COMEX OF  3100 CONTRACTS TO THE 4470 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A HUGE GAIN OF 7570  OPEN INTEREST CONTRACTS  WE STILL HAVE A STRONG AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN MARCH (SEE BELOW). THE NET GAIN TODAY IN OZ ON THE TWO EXCHANGES:  37.85 MILLION OZ!!!

RESULT: A CONSIDERABLE  INCREASE IN SILVER OI AT THE COMEX WITH THE STRONG RISE OF 38 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING ). BUT WE ALSO HAD ANOTHER GOOD SIZED 4470 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG  SIZED AMOUNT OF SILVER OUNCES STANDING FOR MARCH, DEMAND FOR PHYSICAL SILVER INTENSIFIES AS WE WITNESS SEVERE BACKWARDATION IN SILVER IN LONDON.

(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)WEDNESDAY MORNING/LATE TUESDAY NIGHT: Shanghai closed DOWN 17.97 POINTS OR 0.55% /Hang Sang CLOSED DOWN 313.81 POINTS OR 1.03% / The Nikkei closed DOWN 165.04 POINTS OR 0.77%/Australia’s all ordinaires CLOSED DOWN 0.93%/Chinese yuan (ONSHORE) closed UP at 6.3196/Oil DOWN to 62.18 dollars per barrel for WTI and 65.22 for Brent. Stocks in Europe OPENED DEEPLY IN THE RED  .   ONSHORE YUAN CLOSED UP AT 6.3196 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3175 /ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING MUCH STRONGER AGAINST THE DOLLAR . CHINA IS NOT VERY  HAPPY TODAY (STRONGER CURRENCY BUT LOUSY CHINESE MARKETS AND GLOBAL MARKETS/ )

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