Options Expiry On Gold And Silver End Tomorrow

by Harvey Organ, Harvey Organ Blog:

GOLD DOWN $4.85 TO $1336.90/SILVER DOWN 6 CENTS TO $17.10/GOLD EFP ISSUANCE: A LARGE 11,909 CONTRACTS/SILVER EFP ISSUANCE: 1461CONTRACTS/HOUSE INTEL COMMITTEE VOTES TO MAKE PUBLIC THE 4 PAGE FISA WARRANT

GOLD: $1336.90 DOWN $4.85

Silver: $17.10 DOWN 6 cents

Closing access prices:

Gold $1338.50

silver: $17.13

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: $1345.27 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1335.75

PREMIUM FIRST FIX: $7.79

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SECOND SHANGHAI GOLD FIX: $1362.55

NY GOLD PRICE AT THE EXACT SAME TIME: $1335.55

Premium of Shanghai 2nd fix/NY:$27.00

SHANGHAI REJECTS FULLY NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1345.70

NY PRICING AT THE EXACT SAME TIME: $1343.45

LONDON SECOND GOLD FIX 10 AM: $1344.90

NY PRICING AT THE EXACT SAME TIME. $1346.00???

For comex gold:

JANUARY/

NUMBER OF NOTICES FILED TODAY FOR JANUARY CONTRACT: 2 NOTICE(S) FOR 100 OZ.

TOTAL NOTICES SO FAR: 698 FOR 69800 OZ (2.1710 TONNES),

For silver:

jANUARY

1 NOTICE(S) FILED TODAY FOR5,000 OZ/

Total number of notices filed so far this month: 730 for 3,650,000 oz

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Bitcoin: BID $10,959/OFFER $11,059  DOWN $183(morning)Bitcoin: BID/   $10,101/   $10,200 offer down1035  (CLOSING/5 PM) 

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EXPECT SOME TORMENT IN BOTH GOLD AND SILVER TO END TOMORROW AS WE HAVE LONDON BASED OPTIONS EXPIRING AT AROUND 11 AM WEDNESDAY.

Let us have a look at the data for today

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In silver, the total open interest ROSE BY A TINY SIZED 361 contracts from 200,827 RISING TO 201,188 DESPITE YESTERDAY’S BIG 26 CENT FALL IN SILVER PRICING.  WE 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 ROUTE:  1460 EFP’S FOR MARCH AND AND ZERO FOR ALL  OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 1460 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 1460 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.

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

47,174 CONTRACTS (FOR 21 TRADING DAYS TOTAL 47,174 CONTRACTS OR 235.870 MILLION OZ: AVERAGE PER DAY: 2246 CONTRACTS OR 11.231 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  235.8 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 33.6% OF ANNUAL GLOBAL PRODUCTION

RESULT: A TINY SIZED LOSS IN OI COMEX DESPITE THE BIG 26 CENT FALL IN SILVER PRICE.  WE HOWEVER HAD A GOOD SIZED EFP ISSUANCE OF 1460 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 1460 EFP’S WERE ISSUED FOR TODAY  FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE REALLY GAINED 1333 OI CONTRACTS i.e. 1460 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 361  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 26 CENTS AND A CLOSING PRICE OF $17.16 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 OVER 1 BILLION oz i.e. 1.0060 BILLION TO BE EXACT or 144% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JANUARY MONTH/ THEY FILED: 1 NOTICE(S) FOR 5,000 OZ OF SILVER

In gold, the open interest FELL  BY A LARGE 8799 CONTRACTS DOWN TO 566,441 WITH THE GOOD SIZED FALL IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($11.25). IN ANOTHER DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FOR TODAY AND IT TOTALED A GOOD SIZED  11,909 CONTRACTS OF WHICH FEBRUARY SAW 3284 CONTRACTS ISSUED AND  APRIL SAW THE ISSUANCE OF 8625 CONTRACTS.    The new OI for the gold complex rests at 558,239. 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. DUE TO THE DELAY IN THE RELEASE OF YESTERDAY’S DATA YOU CAN BET THE FARM THAT THEY HAVE DELAYED THE RELEASE OF MANY EFPS. 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 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 3110  CONTRACTS: 8799 OI CONTRACTS DECREASED AT THE COMEX AND A STRONG SIZED  11,909 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. EXPECT HUGE NUMBERS OF EFP’S TO BE ISSUED AS WE APPROACH FIRST DAY NOTICE IN THE GOLD FEB COMEX CONTRACT, WEDNESDAY JAN 31.2018

YESTERDAY, WE HAD 4123 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JANUARY STARTING WITH FIRST DAY NOTICE: 209,695 CONTRACTS OR 20.9695 MILLION OZ OR 652.22 TONNES(21 TRADING DAYS AND THUS AVERAGING: 9,985 EFP CONTRACTS PER TRADING DAY OR 998,500 OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 21 TRADING DAYS: IN  TONNES: 652 TONNES

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

THUS EFP TRANSFERS REPRESENTS 652/2200 TONNES =  29.63% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JANUARY ALONE.

Result: A  GOOD SIZED DECREASE IN OI AT THE COMEX WITH THE LARGE SIZED FALL IN PRICE IN GOLD TRADING YESTERDAY ($11.25). IT IS WITHOUT A DOUBT THAT MANY OF THE DEPARTED COMEX LONGS ARE WAITING TO RECEIVE A PRIVATE EFP CONTRACT FOR EITHER FEBRUARY OR APRIL AND THESE GUYS ARE STILL NEGOTIATING THEIR DEAL. WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 11,909 AS THESE HAVE ALREADY BEEN NEGOTIATED.   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 11,909 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 3110 contracts ON THE TWO EXCHANGES:

11909 CONTRACTS MOVE TO LONDON AND  8799 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 9.67 TONNES).

we had: 2 notice(s) filed upon for 200 oz of gold.

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

GLD

With gold down another $4.85, we had a big changes in gold inventory at the GLD/a withdrawal of 1.47 tonnes of gold/

Inventory rests tonight: 846.67 tonnes.

SLV/ 

A NO CHANGES IN SILVER INVENTORY AT THE SLV/ INVENTORY RESTS AT 313.896 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 A TINY 361 contracts from 200,827 DOWN TO 201,188 (AND now A LITTLE FURTHER FROM  THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH  THE FAIR SIZED LOSS  IN PRICE OF SILVER  (26 CENTS WITH RESPECT TO  YESTERDAY’S TRADING).   OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER GOOD 1460 PRIVATE EFP’S FOR MARCH  (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 MINIMAL COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE  OI GAIN AT THE COMEX OF  361 CONTRACTS TO THE 1460 OI TRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A GAIN OF 1821 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: 9.105 MILLION OZ!!!

RESULT: A TINY SIZED INCREASE IN SILVER OI AT THE COMEX WITH THE FAIR SIZED LOSS  OF 26 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). BUT WE ALSO HAD ANOTHER GOOD 1460 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)

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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 MONDAY night/TUESDAY morning: Shanghai closed DOWN 34.99 points or 0.99% /Hang Sang CLOSED DOWN 359.60 pts or 1.09% / The Nikkei closed DOWN 337.37 POINTS OR 1.43%/Australia’s all ordinaires CLOSED DOWN 0.895%/Chinese yuan (ONSHORE) closed UP at 6.3235/Oil DOWN to 64.92 dollars per barrel for WTI and 69.06 for Brent. Stocks in Europe OPENED IN THE RED .   ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.3235. OFFSHORE YUAN CLOSED DOWN AGAINST  THE ONSHORE YUAN AT 6.3279//ONSHORE YUAN MUCH STRONGER AGAINST THE DOLLAR/OFF SHORE MUCH STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  MUCH WEAKER AGAINST ALL MAJOR CURRENCIES. CHINA IS NOT HAPPY TODAY.(STRONGER CURRENCY BUT WEAK MARKETS )

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