Harvey Organ: Backwardation In Silver Is Now SEVERE As Demand For Physical INTENSIFIES
Harvey has a couple of very important updates about what has been going on in the silver market. Here's the details...
by Harvey Organ of Harvey Organ Blog
JULY 18/GOLD REBOUNDS TO SETTLE UP 40 CENTS TO $1228.00/SILVER RETREATS BY 3 CENTS TO $15.57/OPEN INTEREST ON BOTH GOLD AND SILVER RISE DESPITE THE RAID YESTERDAY/ALSO HUGE EFP'S ISSUED FOR BOTH GOLD AND SILVER/RUSSIA DUMPS A MONSTROUS 48 BILLION USA IN TREASURIES AND NO DOUBT WILL BUY GOLD WITH THAT/HUGE DEMAND COMING FROM INDIA FOR SILVER/HOUSING STARTS AND PERMIT ISSUANCE CRASH WITH THE LATEST REPORT/HUGE SWAMP STORIES FOR YOU TONIGHT/
GOLD: $1228.00 UP $0.40 (COMEX TO COMEX CLOSINGS)
Silver: $15.57 DOWN 3 CENTS (COMEX TO COMEX CLOSINGS)
Closing access prices:
Gold $1228.00
silver: $15.55
For comex gold:
JULY/
NUMBER OF NOTICES FILED TODAY FOR JULY CONTRACT:0 NOTICE(S) FOR nil oz
TOTAL NOTICES SO FAR 96 FOR 9600 OZ (0.2986 tonnes)
For silver:
JUNE
70 NOTICE(S) FILED TODAY FOR
350,000 OZ/
Total number of notices filed so far this month: 5358 for 26,790,000 oz
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Bitcoin: BID $7362/OFFER $7447: UP $89(morning)
Bitcoin: BID/ $7301/offer $7386: UP $29 (CLOSING/5 PM)
end
First Shanghai gold fix comes at 10 pm est
The second Shanghai gold fix: 2:15 pm
First Shanghai gold fix gold: 10 pm est: 1232.88
NY price at the same time: 1228.60
PREMIUM TO NY SPOT: $4.28
Second gold fix early this morning: 1228.59
USA gold at the exact same time:1224.15
PREMIUM TO NY SPOT: $4.44
China is controlling the gold market
WE WILL NOT PROVIDE LONDON FIXES AS THEY ARE NOT ACCURATE AS TO WHAT IS GOING ON AT THE SAME TIME FRAME.
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 1252 CONTRACTS FROM 211,275 UP TO 212,527 DESPITE YESTERDAY'S RAID AND 20 CENT LOSS IN SILVER PRICING. WE HAVE HAD SUCH CONSIDERABLE COMEX LIQUIDATION THESE PAST SEVERAL DAYS BUT SURPRISINGLY NOT TODAY. HOWEVER, THIS HAS NOT MANIFESTED ITSELF INTO LOWER DEMAND FOR PHYSICAL SILVER..JUST THE OPPOSITE. WE ARE STILL WITNESSING A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY(OVER 30 MILLION OZ) AS WELL AS CONSIDERABLE LONGS PACKING THEIR BAGS AND MIGRATING OVER TO LONDON IN GREATER NUMBERS IN THE FORM OF EFP'S. WE WERE NOTIFIED THAT WE HAD A HUMONGOUS SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP: 4254 EFP'S FOR SEPT. , 0 EFP'S FOR DECEMBER AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE: OF 4254 CONTRACTS. WITH THE TRANSFER OF 4254 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 4254 EFP CONTRACTS TRANSLATES INTO 21.270 MILLION OZ AND ACCOMPANYING:
1.THE 20 CENT LOSS IN SILVER PRICE AT THE COMEX AND
2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR THE JUNE/2018 COMEX DELIVERY MONTH. (5.420 MILLION OZ) AND NOW JULY/ 2018 WITH 30.165 MILLION OZ INITIALLY STANDING FOR DELIVERY(SEE DATA BELOW).
ACCUMULATION FOR EFP'S/SILVER/J.P.MORGAN'S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF JUNE:
23,228 CONTRACTS (FOR 12 TRADING DAYS TOTAL 23,228 CONTRACTS) OR 116.14 MILLION OZ: (AVERAGE PER DAY: 1935 CONTRACTS OR 9.678 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF JULY: 116.14 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 16.59% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)* JUNE'S 345.43 MILLION OZ IS THE SECOND HIGHEST RECORDED ISSUANCE OF EFP'S AND IT FOLLOWED THE RECORD SET IN APRIL 2018 OF 385.75 MILLION OZ.
ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP'S: 1,775.85 MILLION OZ.
ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ
ACCUMULATION FOR FEB 2018: 244.95 MILLION OZ
ACCUMULATION FOR MARCH 2018: 236.67 MILLION OZ
ACCUMULATION FOR APRIL 2018: 385.75 MILLION OZ
ACCUMULATION FOR MAY 2018: 210.05 MILLION OZ
ACCUMULATION FOR JUNE 2018: 345.43 MILLION OZ
RESULT: WE HAD A CONSIDERABLE SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1469 DESPITE THE RAID AND THE 20 CENT LOSS IN SILVER PRICING AT THE COMEX YESTERDAY. THE CME NOTIFIED US THAT WE HAD A HUMONGOUS SIZED EFP ISSUANCE OF 4254 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 (SEE COMEX DATA) . FROM THE CME DATA: 4254 EFP'S FOR SEPT, 0 EFP'S FOR DECEMBER AND ZERO FOR ALL OVER MONTHS FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS (TOTAL: 4254). TODAY WE GAINED A CONSIDERABLE SIZED: 5506 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:
i.e 4254 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP's) TOGETHER WITH AN INCREASE OF 1252 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 20 CENT FALL IN PRICE OF SILVER AND A CLOSING PRICE OF $15.60 WITH RESPECT TO YESTERDAY'S TRADING. YET WE STILL HAVE A GIGANTIC AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY IN THIS ACTIVE JULY DELIVERY MONTH OF MORE THAN 30 MILLION OZ. IT SURE LOOKS LIKE ANOTHER FAILED BANKER SHORT COVERING EXERCISE AS BANKERS ARE SCRAMBLING TO COVER THEIR HUGE SHORTFALL.
In ounces AT THE COMEX, the OI is still represented by OVER 1 BILLION oz i.e. 1.062 MILLION OZ TO BE EXACT or 152% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT JULY MONTH/ THEY FILED AT THE COMEX: 70 NOTICE(S) FOR 350,000 OZ OF SILVER
IN SILVER, WE SET THE NEW RECORD OF OPEN INTEREST AT 243,411 CONTRACTS ON APRIL 9.2018. AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $16.51
ON THE DEMAND SIDE WE HAVE THE FOLLOWING:
HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY (MARCH/2018: 27 MILLION OZ , APRIL/2018 : 2.485 MILLION OZ MAY: 36.285 MILLION OZ ; JUNE/2018 (5.420 MILLION OZ) AND NOW JULY 2018 AMOUNT INITIALLY STANDING: 30.165 MILLION OZ )HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018HUGE ANNUAL EFP'S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 385.75 MILLIONOZ/ AND THE SECOND HIGHEST RECORDED EFP ISSUANCE JUNE 2018 345.43 MILLION OZAND YET, WITH THE EXTREMELY HIGH EFP ISSUANCE, WE HAVE A CONTINUAL LOW PRICE OF SILVER DESPITE THE ABOVE HUGE DEMAND. TO ME THE ONLY ANSWER IS THAT WE HAVE SOVEREIGN (CHINA) WHO IS ENDEAVOURING TO GOBBLE UP ALL AVAILABLE PHYSICAL SILVER NO MATTER WHERE, EXACTLY WHAT J.P.MORGAN IS DOING. AND IT IS MY BELIEF THAT J.P.MORGAN IS HOLDING ITS SILVER FOR ITS BENEFICIAL OWNER..THE USA GOVERNMENT WHO IN TURN IS HOLDING THAT SILVER FOR CHINA.(FOR A SILVER LOAN REPAYMENT).
In gold, the open interest ROSE BY A CONSIDERABLE SIZED 1807 CONTRACTS UP TO 528,278 DESPITE THE RAID AND FALL IN THE COMEX GOLD PRICE/YESTERDAY'S TRADING (A LOSS IN PRICE OF $12.40). WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF JULY. NO DOUBT THE BOYS ARE CASHING IN THEIR COMEX LONGS TO BEGIN THE PROCESS TO MOVE INTO LONDON FORWARDS. THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A VERY STRONG SIZED 9611 CONTRACTS : AUGUST SAW THE ISSUANCE OF: 9611 CONTRACTS, DECEMBER HAD AN ISSUANCE OF 0 CONTACTS AND THEN ALL OTHER MONTHS ZERO. The new COMEX OI for the gold complex rests at 528,278. 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. . 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 HUMONGOUS OI GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 11,418 CONTRACTS: 1807 OI CONTRACTS INCREASED AT THE COMEX AND 9611 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN: 11,418 CONTRACTS OR 1,141,800 OZ = 35.51 TONNES. AND THIS IS MIND BOGGLING: ALL OF THIS HUGE DEMAND OCCURRED DESPITE THE RAID AND THE FALL IN THE PRICE OF GOLD/ YESTERDAY TO THE TUNE OF $12.40???.
YESTERDAY, WE HAD 6733 EFP'S ISSUED.
ACCUMULATION OF EFP'S GOLD AT J.P. MORGAN'S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JUNE : 94,737 CONTRACTS OR 9,473,700 OZ OR 294.67 TONNES (12 TRADING DAYS AND THUS AVERAGING: 7894 EFP CONTRACTS PER TRADING DAY OR 789,400 OZ/ TRADING DAY),,
TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 12 TRADING DAYS IN TONNES: 294.67 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES
THUS EFP TRANSFERS REPRESENTS 294.67/2550 x 100% TONNES = 11.55% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JULY ALONE.***
ACCUMULATION OF GOLD EFP'S YEAR 2018 TO DATE: 4,397.53* TONNES *SURPASSED ANNUAL PROD'N
ACCUMULATION OF GOLD EFP'S FOR JANUARY 2018: 653.22 TONNES (21 TRADING DAYS)
ACCUMULATION OF GOLD EFP'S FOR FEBRUARY 2018: 649.45 TONNES (20 TRADING DAYS)
ACCUMULATION OF GOLD EFP'S FOR MARCH 2018: 741.89 TONNES (22 TRADING DAYS)
ACCUMULATION OF GOLD EFP'S FOR APRIL 2018: 713.84 TONNES (21 TRADING DAYS)
ACCUMULATION OF GOLD EFP'S FOR MAY 2018: 693.80 TONNES ( 22 TRADING DAYS)
ACCUMULATION OF GOLD EFP FOR JUNE 2018 650.71 TONNES (21 TRADING DAYS)
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP'S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP'S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
Result: A CONSIDERABLE SIZED INCREASE IN OI AT THE COMEX OF 1807 DESPITE THE RAID AND THE $12,40 LOSS IN PRICING GOLD UNDER UNDERTOOK YESTERDAY // . WE ALSO HAD A HUMONGOUS SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 9611 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX. 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 9611 EFP CONTRACTS ISSUED, WE HAD A VERY STRONG NET GAIN OF 13,033 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:
9611 CONTRACTS MOVE TO LONDON AND 1807 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 35.51 TONNES). ..AND BELIEVE IT OR NOT AND THIS IS MIND BOGGLING: ALL OF THIS DEMAND OCCURRED DESPITE THE RAID AND THE LOSS OF $12.40 IN YESTERDAY'S TRADING AT THE COMEX!!!. THE COMEX IS AN OUTRIGHT FRAUD
we had: 0 notice(s) filed upon for NIL oz of gold at the comex.
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With respect to our two criminal funds, the GLD and the SLV:
GLD...
WITH GOLD UP $0.40 TODAY: /
NO CHANGES IN GOLD INVENTORY AT THE GLD:
/GLD INVENTORY 794.01 TONNES
Inventory rests tonight: 794.01 tonnes.
TO ALL INVESTORS THINKING OF BUYING GOLD THROUGH THE GLD ROUTE: YOU ARE MAKING A TERRIBLE MISTAKE AS THE CROOKS ARE USING WHATEVER GOLD COMES IN TO ATTACK BY SELLING THAT GOLD. IT SURE SEEMS TO ME THAT THE GOLD OBLIGATIONS AT THE GLD EXCEED THEIR INVENTORY
SLV/
WITH SILVER DOWN 3 CENTS TODAY :
NO CHANGES IN SILVER INVENTORY AT THE SLV:
/INVENTORY RESTS AT 326.799 MILLION OZ/
NOTE THE DIFFERENCE BETWEEN THE GLD AND SLV: THE CROOKS CAN RAID GOLD BECAUSE THEY DO HAVE SOME PHYSICAL. THEY DO NOT RAID SILVER PROBABLY BECAUSE THERE IS NO REAL SILVER INVENTORIES BEHIND THEM
Let us head over to the comex:
The total gold comex open interest ROSE BY A CONSIDERABLE SIZED 1807 CONTRACTS UP to an OI level 528,278 DESPITE THE RAID AND THE FALL IN THE PRICE OF GOLD ($12.40 LOSS/ YESTERDAY'S COMEX TRADING). FOR TWO YEARS STRAIGHT WE HAVE NOTICED THAT ONE WEEK PRIOR TO FIRST DAY NOTICE OF AN ACTIVE DELIVERY MONTH THE COMEX OPEN INTEREST CONTRACTS AND EFP'S NOTICES EXPONENTIALLY INCREASE. WE WILL WATCH IF THIS CONTINUES AS WE APPROACH THE STRONG DELIVERY MONTH OF AUGUST. THE CME REPORTS THAT THE BANKERS ISSUED A HUMONGOUS SIZED COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 9611 EFP CONTRACTS WERE ISSUED:
FOR AUGUST 9611 CONTRACTS, DECEMBER ISSUANCE OF 0, AND ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 9611 CONTRACTS.
THE OBLIGATION STILL RESTS WITH THE BANKERS ON THESE TRANSFERS. ALSO REMEMBER THAT THERE IS NO DOUBT A HUGE DELAY IN THE ISSUANCE OF EFP'S AND IT PROBABLY TAKES AT LEAST 48 HRS AFTER LONGS GIVE UP THEIR COMEX CONTRACTS FOR THEM TO RECEIVE THEIR EFP'S AS THEY ARE NEGOTIATING THIS CONTRACT WITH THE BANKS FOR A FIAT BONUS PLUS THEIR TRANSFER TO A LONDON BASED FORWARD.
ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A VERY STRONG 11,418 OI TOTAL CONTRACTS IN THAT 9611 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED 1807 COMEX CONTRACTS.
NET GAIN ON THE TWO EXCHANGES: 11,418 contracts OR 1,141,800 OZ OR 35.51 TONNES.
Result: A STRONG SIZED INCREASE IN COMEX OPEN INTEREST DESPITE THE FALL IN PRICE/YESTERDAY (ENDING UP WITH A LOSS IN PRICE OF $12.40). THE TOTAL OPEN INTEREST GAIN ON THE TWO EXCHANGES: 11,418 OI CONTRACTS..
We have now entered the non-active contract month of JULY where we LOST 1 CONTRACT TO STAND AT 144. CONTRACTS. WE HAD 1 NOTICE FILED YESTERDAY SO WE GAINED 0 CONTRACTS OR AN ADDITIONAL NIL OZ OF GOLD WILL STAND AT THE COMEX AS GOLD INVESTORS CONTINUE TO REFUSE TO MORPH INTO LONDON BASED FORWARDS AND RECEIVE A SWEETENER FIAT FOR THEIR EFFORTS.
AFTER JULY COMES THE ACTIVE AUGUST CONTRACT MONTH AND HERE THE OI LOST 2220 CONTRACTS UP TO 254,205 CONTRACTS. AFTER AUGUST, SEPTEMBER GAINED 55 CONTRACTS AND THUS RISES TO 567 CONTRACTS. THE NEXT ACTIVE DELIVERY MONTH IS OCTOBER AND HERE THE OI ROSE BY 371 CONTRACTS UP TO 31,715 CONTRACTS.
WE HAD 0 NOTICE FILED AT THE COMEX FOR NIL OZ.
ON FIRST DAY NOTICE FOR THE JULY/2017 COMEX GOLD CONTRACT WE HAD A TINY 14,600 OZ OF GOLD (.4544 TONNES) INITIALLY STAND FOR DELIVERY. BY MONTH END JULY/2017 WE HAD SOME QUEUE JUMPING AND THE FINAL NUMBER STANDING: 17,600 OZ OR .5974 TONNES. THUS WE HAVE ALREADY SURPASSED LAST YEAR WITH TODAY'S TOTAL AS 23,900 OZ ARE STANDING (.7433 TONNES). see data below
FOR COMPARISON FOR THE UPCOMING AUGUST 2017 GOLD COMEX CONTRACT MONTH:
A)AT THIS STAGE IN THE DELIVERY CYCLE/JULY 19/2017 WE HAD 208,396 CONTRACTS O/S VS TODAY: 254,205,
THERE ARE 7 READING DAYS LEFT BEFORE FIRST DAY NOTICE AUGUST 2018 CONTACT MONTH AND THIS COMPARES WITH 7 TRADING DAYS IN COMPARISON TO THE AUGUST 2017 YEAR.
(SO WE ARE GOING TO HAVE A HUMDINGER OF A FIRST DAY NOTICE AUGUST CONTRACT MONTH WITH A MASSIVE AMOUNT OF LONGS STANDING FOR DELIVERY)
B) INITIALLY WE HAD A GOOD 831,100 OZ (25.88 TONNES) STAND FOR DELIVERY ON FIRST DAY NOTICE JULY 31.2017 FOR THE AUGUST CONTRACT MONTH
C) AT MONTH'S END, AUGUST 30 WE HAD 524,500 OZ OR 16.33 TONNES STAND FOR DELIVERY AS WE HAD CONSIDERABLE TRANSFERS TO LONDON VIA THE EFP'S
Trading Volumes on the COMEX
PRELIMINARY COMEX VOLUME FOR TODAY: 300,083 contracts
CONFIRMED COMEX VOL. FOR YESTERDAY: 358,630 CONTRACTS
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And now for the wild silver comex results.
Total silver OI ROSE BY A CONSIDERABLE SIZED 1252 CONTRACTS FROM 211,275 UP TO 212,527 (AND A LITTLE CLOSER TO THE THE NEW RECORD OI FOR SILVER SET APRIL 9.2018/ 243,411 CONTRACTS) DESPITE THE RAID AND THE 20 CENT FALL IN SILVER PRICING/ YESTERDAY. SINCE WE ARE NOW INTO THE ACTIVE DELIVERY MONTH OF JULY, WE WERE INFORMED THAT WE HUMONGOUS SIZED 4254 EFP CONTRACTS FOR SEPT., 0 EFP CONTRACTS FOR DECEMBER AND ZERO FOR ALL OTHER MONTHS. THESE EFPS WERE ISSUED TO COMEX LONGS WHO RECEIVED A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. THE TOTAL EFP'S ISSUED: 4254. ON A NET BASIS WE GAINED 5506 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED A 1252 CONTRACT GAIN AT THE COMEX COMBINING WITH THE ADDITION OF 4254 OI CONTRACTS NAVIGATING OVER TO LONDON.
NET GAIN ON THE TWO EXCHANGES: 5506 CONTRACTS
AMOUNT STANDING FOR SILVER AT THE COMEX
We are now in the active delivery month of JULY and here the front month ROSE by 63 contacts to stand at 745 contracts. We had 119 notices filed yesterday so we continue where we left off yesterday as guys refuse to take any more silver ETF's and instead seek physical delivery at the comex. We gained A MONSTROUS 182 contracts or an additional 910,000 oz of silver will stand at the comex.
The next delivery month, after July is the non active delivery month of August and here we gained 11 contracts to stand at 1239. The next active delivery month after August for silver is September and here the OI FELL by 542 contracts UP to 153,676
We had 70 notice(s) filed for 350,000 OZ for the JULY 2018 COMEX contract for silver
FROM LAST YEARS DATA, ON FIRST DATE NOTICE FOR THE JULY 2017 SILVER COMEX DELIVERY MONTH WE HAD 12.115 MILLION OZ OF SILVER STANDING FOR DELIVERY. AT MONTH'S END WE HAD 16.435 MILLION OZ EVENTUALLY STAND AS WE ALREADY HAD QUEUE JUMPING BEGIN IN EARNEST FROM APRIL 2017 ONWARD EVEN TO TODAY. SO WITH TODAY'S NUMBERS WE SURPASSED LAST YEAR'S LEVEL BY A WIDE MARGIN.
AND NOW COMPARISON VS AUGUST LAST YR:
ON FIRST DAY NOTICE JULY 31/2017: 1,965,000 OZ STOOD FOR DELIVERY
THE FINAL AMOUNT OF SILVER STANDING: AUGUST 30.2017: 6,245,000 OZ AS WE HAD CONSIDERABLE QUEUE JUMPING.
FOR THE AUGUST CONTRACT MONTH:
LAST YEAR AT THIS TIME JULY 19.2017 WE HAD 409 SILVER COMEX OI OUTSTANDING VS TODAY: 745
SO, AS IN GOLD, WE ARE GOING TO HAVE A CONSIDERABLY LARGER AMOUNT OF SILVER STANDING FOR THE NON ACTIVE CONTRACT MONTH OF AUGUST THAN LAST YEAR.
INITIAL standings for JULY/GOLD
JULY 18/2018.
For JULY:
Today, 0 notice(s) were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 0 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxTo calculate the INITIAL total number of gold ounces standing for the JULY. contract month, we take the total number of notices filed so far for the month (96) x 100 oz or 9300 oz, to which we add the difference between the open interest for the front month of JULY. (144 contracts) minus the number of notices served upon today (0 x 100 oz per contract) equals 23,900 oz,(.7433 tonnes) the number of ounces standing in this non active month of JULY
Thus the INITIAL standings for gold for the JULY contract month:
No of notices served (96 x 100 oz) + {(144)OI for the front month minus the number of notices served upon today (0 x 100 oz )which equals 23,900 oz standing in this NON - active delivery month of JULY .
We GAINED 0 contracts or an additional NIL oz will stand for comex delivery.
FOR THE INITIAL COMEX JULY 2018 CONTRACT MONTH: AMOUNT STANDING
24,200 OZ VS LAST YEAR'S INITIAL STANDING: 14,600 OZ
THERE ARE ONLY 7.4588 TONNES OF REGISTERED COMEX GOLD AVAILABLE FOR DELIVERY AGAINST 0.7433 TONNES STANDING FOR JULY
total registered or dealer gold: 239,834.009 oz or 7.4598 tonnestotal registered and eligible (customer) gold; 8,658,102,481 oz 269,30 tonnes
IN THE LAST 24 MONTHS 85 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE APRIL DELIVERY MONTH
JULY INITIAL standings/SILVER
we had 0 inventory movement at the dealer side of things
total dealer deposits: nil oz
total dealer withdrawals: nil oz
we had 0 deposit into the customer account
i) Into JPMorgan: nil oz
*** JPMorgan for most of 2017 and in 2018 has adding to its inventory almost every single day.
JPMorgan now has 141 million oz of total silver inventory or 52.0% of all official comex silver. (141 million/270 million)
ii) into everybody else: nil oz
total customer deposits today: nil oz
we had 1 withdrawals from the customer account;
i) Out of Delaware: 2041.742 oz
total withdrawals: 2041.742 oz
we had 0 adjustments/
total dealer silver: 78.302 million
total dealer + customer silver: 280.916 million oz
The total number of notices filed today for the JULY. contract month is represented by 70 contract(s) FOR 350,000 oz. To calculate the number of silver ounces that will stand for delivery in JULY., we take the total number of notices filed for the month so far at 5358 x 5,000 oz = 26,790,000 oz to which we add the difference between the open interest for the front month of JULY. (745) and the number of notices served upon today (70 x 5000 oz) equals the number of ounces standing.
.
Thus the INITIAL standings for silver for the JULY/2018 contract month: 5358(notices served so far)x 5000 oz + OI for front month of JULY(745) -number of notices served upon today (70)x 5000 oz equals 30,165,000 oz of silver standing for the JULY contract month
WE GAINED A MONSTROUS 182 CONTRACTS OR AN ADDITIONAL 910,000 OZ WILL STAND AS THESE GUYS REFUSE TO MORPH INTO LONDON BASED FORWARDS AND RECEIVE A FIAT SWEETENER FOR THEIR EFFORTS.
PLEASE NOTE THE FOLLOWING FOR COMPARISON PURPOSES:
THE INITIAL STANDING FOR SILVER AT THE COMEX JULY 2017: 12.115 MILLION OZ ALTHOUGH AT MONTH'S END: 16.435 MILLION OZ STOOD FOR DELIVERY. THIS COMPARES WITH TODAY'S INITIAL STANDING FOR SILVER OF 30.165 MILLION OZ.
As I stated all this month of July:
"WHEN WE WITNESS THE AMOUNT OF PHYSICAL INCREASE IN THE AMOUNT STANDING AT THE COMEX AND ESPECIALLY COMMENCING ON DAY 2 OF THE DELIVERY CYCLE, YOU CAN BET THE FARM THAT THIS AMOUNT WILL INCREASE FROM THIS DAY FORTH UNTIL THE CONCLUSION OF THE MONTH OF JULY. THIS IS KNOWN AS QUEUE JUMPING AND THIS PHENOMENON HAS BEEN FRONT AND CENTRE OF OPERATIONS IN SILVER FOR NOW OVER 14 MONTHS. SILVER IS BEING SOUGHT BY COMMERCIALS OVER ON THIS SIDE OF THE POND AS DWINDLING SUPPLIES VACATE THE GLOBAL ARENA."
queue jumping continues to intensify to the highest degree in silver as dealers scrounge around for dwindling supplies.
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ESTIMATED VOLUME FOR TODAY: 69,656 CONTRACTS
CONFIRMED VOLUME FOR YESTERDAY: 87,996 CONTRACTS absolutely criminal
YESTERDAY'S CONFIRMED VOLUME OF 87,996 CONTRACTS EQUATES TO 439 million OZ OR 62.8% OF ANNUAL GLOBAL PRODUCTION OF SILVER
COMMODITY LAW SUGGESTS THAT OPEN INTEREST SHOULD NOT BE MORE THAN 3% OF ANNUAL GLOBAL PRODUCTION. THE CROOKS ARE SUPPLYING MASSIVE PAPER TRYING TO KEEP SILVER IN CHECK.
The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price at that day at $18.42The previous record was 224,540 contracts with the price at that time of $20.44
end
NPV for Sprott
1. Sprott silver fund (PSLV): NAV FALLS TO -3.85% (JULY 18/2018)2. Sprott gold fund (PHYS): premium to NAV RISES TO -0.76% to NAV (JULY 18/2018 )Note: Sprott silver trust back into NEGATIVE territory at -3.85%-/Sprott physical gold trust is back into NEGATIVE/
(courtesy Sprott/GATA)
3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA):
NAV 12.73/TRADING 12.23//DISCOUNT 3.88.
END
And now the Gold inventory at the GLD/
JULY 18/WITH GOLD UP 0.40: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 794.01 TONNES
JULY 17/WITH GOLD DOWN $12.40, WE HAD A BIG WITHDRAWAL OF 1.18 TONNES FROM THE GLD/INVENTORY RESTS AT 794.01 TONNES
JULY 16/WITH GOLD DOWN $1.55/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 795.19 TONNES
JULY 13/WITH GOLD DOWN $5.35 THE CROOKS RAID THE COOKIE JAR AGAIN TO THE TUNE OF 3.83 TONNES/INVENTORY RESTS AT 795.19 TONNES
JULY 12/WITH GOLD UP $2.30: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 799.02 TONNES
JULY 11/WITH GOLD DOWN $10.75 THE CROOKS RAIDED THE COOKIE JAR AGAIN TO THE TUNE OF 1.75 TONNES/INVENTORY RESTS AT 799.02 TONNES
JULY 10/WITH GOLD DOWN $3.85: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 800.77 TONNES
july 9/WITH GOLD UP $4.00/ANOTHER RAID ON THE GOLD COOKIE JAR: TWO WITHDRAWALS OF 1.18 TONNES THIS MORNING AND 1.47 TONNES THIS AFTERNOON/INVENTORY RESTS AT 800.77 TONNES
JULY 6/WITH GOLD DOWN $2.45: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 803.42 TONNES
JULY 5/WITH GOLD UP ANOTHER $5.15, THE CROOKS RAIDED THE COOKIE JAR AGAIN TO THE TUNE OF 5.89 TONNES/INVENTORY RESTS AT 803.42 TONNES IN THE LAST 10 TRADING DAYS GLD HAS LOST A HUGE 25.34 TONNES WITH A LOSS OF ONLY $15.25 IN PRICE
July 3/WITH GOLD UP $11.15/THE CROOKS RAIDED THE GLD INVENTORY AGAIN TO THE TUNE OF 9.73 TONNES/INVENTORY RESTS AT 809.31 TONNES
JULY 2/WITH GOLD DOWN $12.15, THE CROOKS RAIDED THE GLD INVENTORY AGAIN BY 1.47 TONNES DOWN./INVENTORY RESTS AT 819.04 TONNES
JUNE 29/WITH GOLD UP $3.70/A WITHDRAWAL OF 1.18 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 820.51 TONNES
JUNE 28/WITH GOLD DOWN $5.15/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 821.69 TONNES
June 27/WITH GOLD DOWN $3.60// TWO ENTRIES:/STRANGELY THE CROOKS RETURNED THE WITHDRAWAL OF 4.42 TONNES LAST NIGHT (THUS WE HAD A DEPOSIT OF 4.42 TONNES/INVENTORY RESTS AT 824.63 TONNES. /THEN LATE THIS AFTERNOON A WITHDRAWAL OF 2.94 TONNES
INVENTORY RESTS AT 821.69 TONNES/THIS VEHICLE IS AN OUTRIGHT FRAUD.
june 26/LATE LAST NIGHT, WITH GOLD DOWN $9.10 WE HAD A HUGE WITHDRAWAL OF 4.42 TONNES OF GOLD/INVENTORY RESTS AT 820.21 TONES
JUNE 25/WITH GOLD DOWN $1.45/NO CHANGE IN GOLD INVENTORY AT THE GLD.INVENTORY RESTS AT 824.63 TONNES
JUNE 22/WITH GOLD UP 25 CENTS TODAY, THE CROOKS WITHDREW A MASSIVE 4.13 TONNES OF GOLD/INVENTORY RESTS AT 824.63 TONNES
JUNE 21/WITH GOLD DOWN $4.00/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.76 TONNES
JUNE 20/WITH GOLD DOWN $3.55/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.76 TONNES
JUNE 19/WITH GOLD DOWN $1.50/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.76 TONES
JUNE 18/WITH GOLD UP $1.90/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.76 TONNES
JUNE 15/WITH GOLD DOWN $28.90/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.76 TONNES
JUNE 14/WITH GOLD UP $7.10/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.76 TONNES/
JUNE 13/WITH GOLD UP $2.20/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.76 TONNES
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JULY 18/2018/ Inventory rests tonight at 794.01 tonnes
*IN LAST 413 TRADING DAYS: 132.80 NET TONNES HAVE BEEN REMOVED FROM THE GLD*LAST 363 TRADING DAYS: A NET 23,74 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
end
Now the SLV Inventory/
JULY 18/WITH SILVER DOWN 3 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 326.799 MILLION OZ/
JULY 17/WITH SILVER DOWN 20 CENTS TODAY: A CHANGE IN SILVER INVENTORY A WITHDRAWAL OF 1.001 MILLION OZ FROM THE SLV: INVENTORY RESTS AT 326.799 MILLION OZ/
JULY 16/WITH SILVER FLAT TODAY, A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.128 MILLION OZ//INVENTORY RESTS AT 327.880 MILLION OZ
JULY 13/WITH SILVER DOWN 16 CENTS TODAY/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 326.752 MILLION OZ.
JULY 12/WITH SILVER UP 12 CENTS TODAY: ANOTHER BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.035 MILLION OZ/INVENTORY RESTS AT 326.752 MILLION OZ/
JULY 11/WITH SILVER DOWN 22 CENTS TODAY: ANOTHER HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 565,000/INVENTORY RESTS AT 325.717 MILLION OZ
JULY 10/WITH SILVER DOWN 3 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 325.151 MILLION OZ
july 9/WITH SILVER UP 5 CENTS: ANOTHER BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 847,000 OZ ADDED TO INVENTORY/INVENTORY RESTS AT 825.151 MILLION OZ/
JULY 6/WITH SILVER DOWN 2 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 324.305 MILLION OZ/
JULY 5/WITH SILVER UP 6 CENTS, A GOOD CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 470,000 OZ/INVENTORY RESTS AT 324.305 MILLION OZ/ FOR THE PAST 10 TRADING DAYS, SILVER INVENTORY HAS ADVANCED BY 4.945 MILLION OZ WITH A LOSS OF 33 CENTS/PLEASE COMPARE THIS WITH THE GLD.
JULY 3/WITH SILVER UP 17 CENTS, A HUGE DEPOSIT OF 1.37 MILLION OZ ADDED TO THE SLV/INVENTORY RESTS AT 323.835 MILLION OZ.
JULY 2/WITH SILVER DOWN 31 CENTS/A HUGE 2.070 MILLION OZ DEPOSIT AT THE SLV/INVENTORY RESTS AT 322.465 MILLION OZ/
JUNE 29/WITH SILVER UP 14 CENTS TODAY, NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS THIS WEEKEND AT 320.395 MILLION OZ/
JUNE 28/WITH SILVER DOWN 18 CENTS, THE CROOKS ADDED 1.035 MILLION OZ OF SILVER INTO THE SLV/INVENTORY RESTS AT 320.395 MILLION OZ
JUNE 27.2018/WITH SILVER DOWN 8 CENTS/NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 819.360 MILLION OZ/
june 26./2018/WITH SILVER DOWN 8 CENTS, THE CROOKS WITHDREW THE DEPOSIT OF TWO DAYS AGO; 941,000 OZ OUT OF INVENTORY/INVENTORY RESTS AT 819.360 OZ
JUNE 25/WITH SILVER DOWN 12 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.301 MILLION OZ/
JUNE 22/WITH SILVER UP 12 CENTS TODAY,ANOTHER BIG CHANGE IN SILVER INVENTORY AT THE SLV" A DEPOSIT OF 941,000 OZ INTO INVENTORY/INVENTORY RESTS THIS WEEKEND AT 320.301 MILLION OZ/
JUNE 21/WITH SILVER UP ONE CENT/ANOTHER CHANGE IN SILVER INVENTORY AT THE SLV/: A DEPOSIT OF 2.918 MILLION OZ/INVENTORY RESTS AT 319.360 MILLION OZ/ THUS FOR TWO STRAIGHT DAYS A TOTAL OF 5.26 MILLION OZ OF SILVER HAS BEEN ADDED WITH NO CHANGE IN PRICE.
JUNE 20/WITH SILVER DOWN ONE CENT/A HUGE CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY / A DEPOSIT OF 2.35 MILLION OZ/INVENTORY RESTS AT 316.442 MILLION OZ/
JUNE 19/2018/WITH SILVER DOWN 11 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 314.090 MILLION OZ/
JUNE 18/WITH SILVER DOWN 6 CENTS TODAY/NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 314.090 MILLION OZ/
JUNE 15/WITH SILVER DOWN 75 CENTS/A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.788 MILLION OZ//INVENTORY RESTS AT 314.090 MILLION OZ
JUNE 14/WITH SILVER UP 30 CENTS, THE CROOKS DECIDED THAT THEY NEEDED SILVER INVENTORY BADLY SO THEY RAID THE SLV OF 1.412 MILLION OZ/INVENTORY RESTS AT 315.878 MILLION OZ/
JUNE 13/WITH SILVER UP 11 CENTS TODAY/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 317.290 MILLION OZ/
JULY 18/2018:
Inventory 326.799 MILLION OZ
6 Month MM GOFO 2.01/ and libor 6 month duration 2.52
Indicative gold forward offer rate for a 6 month duration/calculation:
G0FO+ 2.02%
libor 2.52 FOR 6 MONTHS/
GOLD LENDING RATE: .50%
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12 Month MM GOFO+ 2.80%
LIBOR FOR 12 MONTH DURATION: 2.50
GOFO = LIBOR - GOLD LENDING RATE
GOLD LENDING RATE = +.30
end