Another Raid Today/gold Drops $22.60 Down To $1312.10/silver Drops Another 32 Cents To $16.32

by Harvey Organ, Harvey Organ Blog:

COMEX GOLD ISSUES ANOTHER WHOPPING 14,039 EFP CONTRACTS TRANSFERRING THESE LONGS OVER TO LONDON/COMEX SILVER TRANSFERS 3408/ROYAL BANK OF SCOTLAND CAUGHT FORGING SIGNATURES: THEY WILL PROBABLY BE TOAST/CHINA’S NHA IN TECHNICAL DEFAULT THIS MORNING/USA 10 YR BOND YIELD BACK UP TO 2.84%/TROUBLE TOMORROW AS FUTURES ARE ALREADY DOWN BADLY/HUGE SWAMP STORIES/CHUCK GRASSLEY: DEMOCRATS IN TURMOIL

GOLD: $1312.10 down $22.60

Silver: $16.30 down 32 cents

Closing access prices:

Gold $1318.50

silver: $16.38

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: $1338.47 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1329.70

PREMIUM FIRST FIX: $8.77

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SECOND SHANGHAI GOLD FIX: $1339.02

NY GOLD PRICE AT THE EXACT SAME TIME: $1331.90

Premium of Shanghai 2nd fix/NY:$8.12

SHANGHAI REJECTS  NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1328.50

NY PRICING AT THE EXACT SAME TIME: $1328.10

LONDON SECOND GOLD FIX 10 AM: $1324.65

NY PRICING AT THE EXACT SAME TIME. $1324.40

For comex gold:

FEBRUARY/

NUMBER OF NOTICES FILED TODAY FOR FEBRUARY CONTRACT: 113 NOTICE(S) FOR 11300 OZ.

TOTAL NOTICES SO FAR:1537 FOR 153700 OZ (4.780 TONNES),

For silver:

jANUARY

13 NOTICE(S) FILED TODAY FOR65,000 OZ/

Total number of notices filed so far this month: 139 for 695,000 oz

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Bitcoin: BID $8162/OFFER $8232: up $502(morning)Bitcoin: BID/ $7802/offer $7822: UP $143  (CLOSING/5 PM) 

end

Let us have a look at the data for today

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In silver, the total open interest FELL BY A TINY 700 contracts from 206,171  FALLING TO 205,470 WITH YESTERDAY’S  8 CENT FALL IN SILVER PRICING.  WE  HAD TINY 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:  3408 EFP’S FOR MARCH AND AND 0 EFP’S FOR MAY AND ZERO FOR ALL  OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 3408 CONTRACTS. HOWEVER THE MOVEMENT ACROSS TO LONDON IS NOT AS SEVERE AS IN GOLD AS THERE SEEMS TO BE  MAJOR PLAYERS WILLING TO TAKE ON THE BANKS AT THE COMEX. STILL, WITH THE TRANSFER OF 3408 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 3408 CONTRACTS TRANSLATES INTO 17.04 MILLION OZ

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

17,482 CONTRACTS (FOR 6 TRADING DAYS TOTAL 17,482 CONTRACTS OR 87.410 MILLION OZ: AVERAGE PER DAY: 2913 CONTRACTS OR 14.565 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  87.41 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 12.42% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:  322.34 MILLION OZ.

ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ

RESULT: A TINY SIZED LOSS IN OI SILVER COMEX WITH THE SMALL 8 CENT FALL IN SILVER PRICE.  WE HOWEVER HAD A GOOD SIZED EFP ISSUANCE OF 3408 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 3408 EFP’S  FOR  MONTHS MARCH AND MAY WERE ISSUED FOR TODAY  FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE REALLY GAINED  2708 OICONTRACTS i.e. 3408 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 700  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF  8 CENTS AND A CLOSING PRICE OF $16.62 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 OVER 1 BILLION oz i.e. 1.028 BILLION TO BE EXACT or 148% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT FEBRUARY MONTH/ THEY FILED: 13 NOTICE(S) FOR 65,000 OZ OF SILVER

In gold, the open interest FELL  BY A CONSIDERABLE 10,572 CONTRACTS DOWN TO 535.321  WITH THE FAIR SIZED FALL IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($8.50). IN ANOTHER DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FOR TUESDAY AND IT TOTALED A HUGE SIZED  14,039 CONTRACTS OF WHICH  APRIL SAW THE ISSUANCE OF 14039 CONTRACTS AND  JUNE SAW THE ISSUANCE OF 0 CONTRACTS AND THEN ALL OTHER MONTHS ZERO.    The new OI for the gold complex rests at 535,321. 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 WE HAVE A GAIN OF 3467  CONTRACTS: 10,572 OI CONTRACTS DECREASED AT THE COMEX AND A STRONG SIZED  14,039 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.(3467 oi gain in CONTRACTS EQUATES TO 10.78 TONNES)

YESTERDAY, WE HAD 5581 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF FEBRUARY STARTING WITH FIRST DAY NOTICE: 63,032 CONTRACTS OR 6,303,200  OZ OR 196.055 TONNES (6 TRADING DAYS AND THUS AVERAGING: 10,505 EFP CONTRACTS PER TRADING DAY OR 1,050,500 OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 6 TRADING DAYS: IN  TONNES: 177.53 TONNES

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

THUS EFP TRANSFERS REPRESENTS 177.53/2200 x 100% TONNES =  8.04% OF GLOBAL ANNUAL PRODUCTION SO FAR IN FEBRUARY ALONE.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  829.84 TONNES

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

Result: A  HUGE SIZED DECREASE IN OI AT THE COMEX WITH THE FALL IN PRICE IN GOLD TRADING YESTERDAY ($8.50). IT IS WITHOUT A DOUBT THAT MANY OF THE DEPARTED COMEX LONGS  RECEIVED THEIR PRIVATE EFP CONTRACT  FOR EITHER  APRIL OR JUNE. WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 14,039 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 14039 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 3467 contracts ON THE TWO EXCHANGES:

14039 CONTRACTS MOVE TO LONDON AND  10,572 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 10.79 TONNES).

we had: 113 notice(s) filed upon for 11300 oz of gold.

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

GLD

WOW!!!, WITH ALL OF TODAY’S TURMOIL: A MASSIVE 12.08 TONNES OF GOLD WAS REMOVED FROM THE GLD AND NO DOUBT THAT THIS WILL TURN OUT TO BE CRIMINAL BEHAVIOUR

Inventory rests tonight: 829.27 tonnes.

SLV/

NO CHANGES IN SILVER INVENTORY AT THE SLV/ WITH ALL OF TODAY’S TURMOIL AND WHACKING OF SILVER

/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 FELL BY A TINY 700 contracts from 206,170 DOWN TO 205,470 (AND now A LITTLE FURTHER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH  THE SLIGHT FALL  IN PRICE OF SILVER  (8 CENTS WITH RESPECT TO  YESTERDAY’S TRADING).   OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER GOOD 3408 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 ZERO COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE  OI LOSS AT THE COMEX OF  700 CONTRACTS TO THE 3408 OI TRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A GOOD GAIN OF 2708  OPEN INTEREST CONTRACTS.  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:13.54 MILLION OZ!!!

RESULT: A TINY SIZED DECREASE IN SILVER OI AT THE COMEX WITH THE SMALL SIZED FALL OF 8 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). BUT WE ALSO HAD ANOTHER GOOD 3408 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 night/WEDNESDAY morning: Shanghai closed DOWN 61.39 points or 1.82% /Hang Sang CLOSED DOWN 272.22 or 0.89% / The Nikkei closed UP 35.13 POINTS OR 0.16%/Australia’s all ordinaires CLOSED UP 0.87%/Chinese yuan (ONSHORE) closed UP at 6.2700/Oil DOWN to 63.21 dollars per barrel for WTI and 66.84 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN.   ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.2700. OFFSHORE YUAN CLOSED DOWN AGAINST  THE ONSHORE YUAN AT 6.2820//ONSHORE YUAN A LOT STRONGER AGAINST THE DOLLAR/OFF SHORE A LOT STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  MUCH STRONGER AGAINST ALL MAJOR CURRENCIES EXCEPT THE YUAN. CHINA IS NOT  TOO  HAPPY TODAY.(STRONGER CURRENCY BUT WEAK MARKETS THROUGHOUT THE GLOBE )

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