Gold Up$18.70 To $1323.10/silver Up 23 Cents To $16.50

by Harvey Organ, Harvey Organ Blog:

MASSIVE GOLD EFP TRANSFER AS A LONDON FORWARD: 20,030 CONTRACTS/ SILVER EFP TRANSFER 2521/JAPAN’S KURODA CONTEMPLATING STOPPING QE PURCHASES OF JAPANESE BONDS: SENDS THE YEN SOARING/TRUMP TRIPLES DOWN ON TRADE WARS!!

GOLD: $1323.10  UP 18.70

Silver: $16.50 UP  23 CENTS

Closing access prices:

Gold $1322.80

silver: $16.52

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: $1325.86 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1316.70

PREMIUM FIRST FIX: $9.16

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SECOND SHANGHAI GOLD FIX: $1330.24

NY GOLD PRICE AT THE EXACT SAME TIME: $1317.50

PREMIUM SECOND FIX /NY:$12.74

SHANGHAI REJECTS NY PRICING OF GOLD.

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LONDON FIRST GOLD FIX: 5:30 am est $1316.75

NY PRICING AT THE EXACT SAME TIME: $1316.90

LONDON SECOND GOLD FIX 10 AM: $1322.30

NY PRICING AT THE EXACT SAME TIME. $1323.24

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

204 NOTICE(S) FILED TODAY FOR1,020,000 OZ/

Total number of notices filed so far this month: 3858 for 19,290,000 oz

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Bitcoin: BID $11,028/OFFER $11,098: UP $150(morning)Bitcoin: BID/ $10,965/offer $11,040: UP $695  (CLOSING/5 PM) 

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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 322 contracts from 192,010  RISING TO 192,332 DESPITE  YESTERDAY’S 11 CENT FALL IN SILVER PRICING.  WE HAD NO COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER STRONG SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  0 EFP’S FOR MARCH AND AND 2521 EFP’S FOR MAY AND ZERO FOR ALL  OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 2521 CONTRACTS.  WITH THE TRANSFER OF 2521 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 2521 CONTRACTS TRANSLATES INTO 13.605 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 MARCH:

4370 CONTRACTS (FOR 2 TRADING DAYS TOTAL 4370 CONTRACTS OR 21.850 MILLION OZ: AVERAGE PER DAY: 2185 CONTRACTS OR 10.925 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  21.85 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 3.12% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:  515.325 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 DESPITE THE 11 CENT LOSS IN SILVER PRICE.  WE ALSO HAD A GOOD SIZED EFP ISSUANCE OF 2521 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 2521 EFP’S  FOR  MONTHS MARCH AND MAY WERE ISSUED FOR  A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS.   WE GAINED  3395 OI CONTRACTS i.e. 2521 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 874  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 11 CENTS AND A CLOSING PRICE OF $16.27 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 UNDER 1 BILLION oz i.e. 0.964 BILLION TO BE EXACT or 137% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT FEBRUARY MONTH/ THEY FILED: 204 NOTICE(S) FOR 1,020,000 OZ OF SILVER

In gold, the open interest  FELL BY A HUGE 17,913 CONTRACTS FALLING TO 509,899 WITH THE CONSIDERABLE FALL IN PRICE OF GOLD WITH RESPECT TO YESTERDAY’S TRADING ($12.30).HOWEVER, IN ANOTHER DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FOR FRIDAY AND IT TOTALED AN ATMOSPHERIC SIZED  20,030 CONTRACTS OF WHICH  APRIL SAW THE ISSUANCE OF 20,030 CONTRACTS AND  JUNE SAW THE ISSUANCE OF 0 CONTRACTS AND THEN ALL OTHER MONTHS ZERO.    The new OI for the gold complex rests at 509,899. 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 3117  CONTRACTS: 17,913 OI CONTRACTS DECREASED AT THE COMEX AND A STRONG SIZED 20,030 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.(3117 oi gain in CONTRACTS EQUATES TO 9.86TONNES)

YESTERDAY, WE HAD 13581 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MARCH : 29933 CONTRACTS OR 2,993,300  OZ OR 93.09 TONNES (2 TRADING DAYS AND THUS AVERAGING: 14,966EFP CONTRACTS PER TRADING DAY OR 1,496,600 OZ/ TRADING DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 2 TRADING DAYS IN  TONNES: 93.09 TONNES

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

THUS EFP TRANSFERS REPRESENTS 93.09/2200 x 100% TONNES =  4.23% OF GLOBAL ANNUAL PRODUCTION SO FAR IN MARCH ALONE.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  1345.31 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 DECREASE IN OI AT THE COMEX WITH THE CONSIDERABLE FALL IN PRICE IN GOLD TRADING YESTERDAY ($12.30).  HOWEVER, WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 20,030 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 20,030 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 3117 contracts ON THE TWO EXCHANGES:

20,030 CONTRACTS MOVE TO LONDON AND  17,913 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 9.86 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 UP $18.70 : NO CHANGES IN GOLD INVENTORY AT THE GLD /

Inventory rests tonight: 833.98 tonnes.

SLV/

WITH SILVER UP 23 CENTS TODAY: 

HUGE CHANGE IN SILVER INVENTORY AT THE SLV/ A DEPOSIT OF:1,479,000 OZ

/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 322  contracts from 192,010 UP TO 192,332 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE FALL  IN PRICE OF SILVER  (11 CENTS WITH RESPECT TO  YESTERDAY’S TRADING).  OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER  2521 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 GAIN AT THE COMEX OF  322 CONTRACTS TO THE 2521 OITRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A  GAIN OF 2843  OPEN INTEREST CONTRACTS DESPITE THE RAID YESTERDAY (PRIOR TO POWELL FLIP FLOP) 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:  14.215 MILLION OZ!!!

RESULT: A ZERO  DECREASE IN SILVER OI AT THE COMEX DESPITE THE  FALL OF 11 CENTS IN PRICE(WITH RESPECT TO YESTERDAY’S TRADING ). BUT WE ALSO HAD ANOTHER GOOD 2521 EFP’S ISSUEDTRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE GOOD  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)FRIDAY MORNING/LATE THURSDAY NIGHT: Shanghai closed DOWN 19.23 POINTS OR 0.59% /Hang Sang CLOSED DOWN 460.80 POINTS OR 1.48% / The Nikkei closed DOWN 542.83 POINTS OR 2.50%/Australia’s all ordinaires CLOSED DOWN 0.78%/Chinese yuan (ONSHORE) closed UP at 6.3454/Oil DOWN to 60.63 dollars per barrel for WTI and 63.47 for Brent. Stocks in Europe OPENED DEEPLY IN THE RED  .   ONSHORE YUAN CLOSED DOWN AT 6.3450 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3543 /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  HAPPY TODAY (WEAKER CURRENCY AND TERRIBLE CHINESE MARKETS/ AND POOR GLOBAL MARKETS)

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