Gold Down $5.45/silver Down 1 Cent

by Harvey Organ, Harvey Organ Blog:

BIG NEWS OF THE DAY WAS THE TRIAL BALLOON SENT BY THE ECB WHERE THEY WILL TAPER THEIR QE PURCHASES FROM OCT THROUGH DECEMBER AND THEN STOP/TRUMP ANNOUNCES “NEGOTIABLE” TARIFFS AND EXEMPTS CANADA AND MEXICO WHILE NAFTA TALKS CONTINUE/NORTHERN LEAGUE JOINS BERLUSCONI’S CENTRE RIGHT PARTY AND THIS MAY LEAD TO A GOVERNMENT THAT IS TOTALLY EUROSKEPTIC/SWAMP STORIES/

GOLD: $1321.15  DOWN $5.45

Silver: $16.49 DOWN 1 CENT

Closing access prices:

Gold $1322.00

silver: $16.49

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: $1335.83 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1327.45

PREMIUM FIRST FIX: $8.38

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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: $1321.00

NY PRICING AT THE EXACT SAME TIME. $1321.00

For comex gold:

MARCH/

NUMBER OF NOTICES FILED TODAY FOR MARCH CONTRACT: 4 NOTICE(S) FOR 400 OZ.

TOTAL NOTICES SO FAR:4 FOR 400 OZ

For silver:

MARCH

30 NOTICE(S) FILED TODAY FOR150,000 OZ/

Total number of notices filed so far this month: 4554 for 22,770,000 oz

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Bitcoin: BID $9561/OFFER $9,661: DOWN $129(morning)Bitcoin: BID/ $9332/offer $9408: DOWN $538  (CLOSING/5 PM) 

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I GUESS THE WORK LOAD OF NEGOTIATING ALL OF THOSE GOLD CONTRACTS IS WEARING OUR CME BOYS DOWN.  FOR THE PAST 6 MONTHS THEY HAVE BEEN LATE IN PROVIDING BUT I WAIT AND PATIENTLY I HAVE ENOUGH TIME TO INCORPORATE THEM INTO THE DAY’S COMMENTARY.

I USED TO RECEIVE THE DATA ALWAYS AT 10 PM, THE NIGHT BEFORE.  IT THEN MORPHED INTO 12 AM AS I STAYED UP TO RECEIVE THE DATA.

THEN IT ARRIVED AT 2 AM

THEN 6 AM

AND NOW, EVEN AT 6.04 PM EST, I DO NOT HAVE THE GOLD EFP DATA.  i RECEIVED THE SILVER EFP DATA AT 5 PM.

THE OPEN INTEREST AT THE COMEX DATA FOR BOTH GOLD AND SILVER IS ACCURATE.

THE ENTIRE SILVER COMEX/EFP DATA IS ACCURATE

I DO NOT HAVE THE DATA FOR GOLD EFP

SO THIS IS WHAT I AM GOING TO DO:

I WILL PUBLISH MY REPORT NOW BUT IT WILL BE WORK IN PROGRESS AND WHEN THE GOLD EFPS ARRIVE LATE TONIGHT , I PROMISE TO UPDATE THE DATA TO FINALIZE THE COMEX DATA FOR YOU.

HARVEY.

Let us have a look at the data for today

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In silver, the total open interest FELL BY A SMALL SIZED 866 contracts from 196,597  FALLING TO 195.724  WITH YESTERDAY’S  27 CENT FALL 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 : 2686 EFP’S FOR MAY AND ZERO FOR ALL  OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 2686 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 2686 CONTRACTS TRANSLATES INTO 13.43 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:

15,663 CONTRACTS (FOR 6 TRADING DAYS TOTAL 15,663 CONTRACTS OR 78.315 MILLION OZ: AVERAGE PER DAY: 2610 CONTRACTS OR 13.052 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  78.315 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 11.18% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:  570.79 MILLION OZ.

ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ

ACCUMULATION FOR MONTH OF FEBRUARY: 244.945 MILLION OZ

RESULT: WE HAD A TINY LOSS  IN COMEX OI SILVER COMEX WITH THE 27 CENT FALL IN SILVER PRICE.  WE ALSO HAD A GOOD SIZED EFP ISSUANCE OF 2686 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 2686 EFP’S  FOR THE  MONTH OF MAY WERE ISSUED FOR  A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS.   WE GAINED  1820 OI CONTRACTS i.e. 2686 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 866  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 27 CENTS AND A CLOSING PRICE OF $16.50 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. 0.987 BILLION TO BE EXACT or 140% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT FEBRUARY MONTH/ THEY FILED: 30 NOTICE(S) FOR 150,000 OZ OF SILVER

In gold, the open interest  FELL BY A TINY 50 CONTRACTS DOWN TO 508,050  DESPITE THE CONSIDERABLE FALL IN PRICE YESTERDAY ($8.00) HOWEVER  FOR TUESDAY, THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED AN GOOD SIZED  7473 CONTRACTS  THE ISSUANCE OF,  APRIL SAW THE ISSUANCE OF 7473 CONTRACTS ,  JUNE SAW THE ISSUANCE OF 0 CONTRACTS AND THEN ALL OTHER MONTHS ZERO.    The new OI for the gold complex rests at 508,050. 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 GOOD GAIN IN OI  CONTRACTS I.E. 7423 CONTRACTS: 50 OI CONTRACTSDECREASED AT THE COMEX AND A GOOD SIZED 7473 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.(7423 oi GAIN in CONTRACTS EQUATES TO 23.08 TONNES)

YESTERDAY, WE HAD 14232 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MARCH : 61,690 CONTRACTS OR 6,169,000  OZ OR 191.88 TONNES (6 TRADING DAYS AND THUS AVERAGING: 10,281 EFP CONTRACTS PER TRADING DAY OR 1,028,100 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: 191.88 TONNES

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

THUS EFP TRANSFERS REPRESENTS 191.88/2550 x 100% TONNES =  7.52% OF GLOBAL ANNUAL PRODUCTION SO FAR IN MARCH ALONE.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  1442.23 TONNES

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

ACCUMULATION OF GOLD EFP’S FOR FEBRUARY: 649.45 TONNES

Result: A  TINY SIZED DECREASE IN OI AT THE COMEX WITH THE CONSIDERABLE FALL IN PRICE IN GOLD TRADING YESTERDAY ($8.00).  HOWEVER, WE HAD ANOTHER HUGE SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 7473 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 7473 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 7423 contracts ON THE TWO EXCHANGES:

7473 CONTRACTS MOVE TO LONDON AND 50 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 23.08 TONNES).

we had: 4 notice(s) filed upon for 400 oz of gold.

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

GLD

WITH GOLD DOWN $5.45 : NO  CHANGES IN GOLD INVENTORY AT THE GLD /

Inventory rests tonight: 833.73 tonnes.

SLV/

WITH SILVER DOWN 1 CENT 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 FELL BY 866  contracts from 196,590 DOWN TO 195,724 (AND now A LITTLE  FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE CONSIDERABLE FALL  IN PRICE OF SILVER  (27 CENTS WITH RESPECT TO  YESTERDAY’S TRADING).   OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER  2686 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 SOME COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE  OI LOSS AT THE COMEX OF  886 CONTRACTSTO THE 2686 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A GAIN OF 1820  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:  9.100 MILLION OZ!!!

RESULT: A SMALL  DECREASE IN SILVER OI AT THE COMEX DESPITE THE STRONG FALL OF 37 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING ). BUT WE ALSO HAD ANOTHER GOOD SIZED 2686 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

)THURSDAY MORNING/LATE WEDNESDAY NIGHT: Shanghai closed UP 16.74 POINTS OR 0.51% /Hang Sang CLOSED UP 457.60 POINTS OR 1.52% / The Nikkei closed UP 115.35 POINTS OR 0.54%/Australia’s all ordinaires CLOSED UP 0.69%/Chinese yuan (ONSHORE) closed DOWN at 6.3385/Oil DOWN to 60.98 dollars per barrel for WTI and 64.03 for Brent. Stocks in Europe OPENED GREEN EXCEPT GERMAN DAX  .   ONSHORE YUAN CLOSED DOWN AT 6.3385 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.3388 /ONSHORE YUAN TRADING STRONGER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING MUCH WEAKER AGAINST THE DOLLAR . CHINA IS NOT VERY  HAPPY TODAY (STRONGER CURRENCY GOOD CHINESE MARKETS/BUT TRUMP TARIFFS TO BE INITIATED/ ) 

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