Harvey Organ: COMEX Just Set A NEW Record In Silver
Harvey explains that COMEX just set a new record with silver. Here's the details...
by Harvey Organ of Harvey Organ Blog
JULY 12/GOLD UP $2.30 CLOSING AT $1246.30/SILVER UP 12 CENTS TO $15.96/TALKS BETWEEN CHINA AND USA COLLAPSE IN TRADE TALKS/TRUMP RILES UP NATO:ASKS NATO COUNTRIES TO PAY UP THEIR FAIR SHARE/TURKEY HEADING TOWARD HYPERINFLATION/IN SHANGHAI: HUGE AMOUNT OF OIL TURNOVER CONTRACTS MEANS IN SEPT A HUGE DEMAND FOR GOLD WILL BE FORTHCOMING/
GOLD: $1246.50 UP $2.30 (COMEX TO COMEX CLOSINGS)
Silver: $15.96 UP 12 CENTS (COMEX TO COMEX CLOSINGS)
Closing access prices:
Gold $1247.40
silver: $15.96
For comex gold:
JULY/
NUMBER OF NOTICES FILED TODAY FOR JULY CONTRACT:8 NOTICE(S) FOR 800
TOTAL NOTICES SO FAR 93 FOR 9300 OZ (0.2892 tonnes)
For silver:
JUNE
35 NOTICE(S) FILED TODAY FOR
175,000 OZ/
Total number of notices filed so far this month: 5148 for 25,740,000 oz
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Bitcoin: BID $6131/OFFER $6216: DOWN $193(morning)
Bitcoin: BID/ $6130/offer $6215: DOWN $195 (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: 1247.92
NY price at the same time: 1243.65
PREMIUM TO NY SPOT: $4.27
Second gold fix early this morning: 1250.18
USA gold at the exact same time:1243.15
PREMIUM TO NY SPOT: $7.03
AGAIN, SHANGHAI REJECTS NEW YORK PRICING.
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 SMALL SIZED 101 CONTRACTS FROM 207,701 UP TO 208,111 DESPITE YESTERDAY'S 22 CENT FALL IN SILVER PRICING. WE HAVE HAD LATELY,SUCH CONSIDERABLE COMEX LIQUIDATION THESE PAST SEVERAL DAYS BUT NOT TODAY. HOWEVER, THIS LIQUIDATION 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 29 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 STRONG SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP: 1917 EFP'S FOR SEPT. , 0 EFP'S FOR DECEMBER AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE: OF 1917 CONTRACTS. WITH THE TRANSFER OF 1917 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 1917 EFP CONTRACTS TRANSLATES INTO 9.585 MILLION OZ ACCOMPANYING:
1.THE 22 CENT FALL 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 29.160 MILLION OZ INITIALLY STANDING FOR DELIVERY.
ACCUMULATION FOR EFP'S/SILVER/J.P.MORGAN'S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF JUNE:
14,581 CONTRACTS (FOR 8 TRADING DAYS TOTAL 14,581 CONTRACTS) OR 72.91 MILLION OZ: (AVERAGE PER DAY: 1822 CONTRACTS OR 9.113 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF JULY: 72.91 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 10.41% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)* LAST MONTH'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: 1,732.6 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 SMALL SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 101 DESPITE THE LARGE 22 CENT FALL IN SILVER PRICE. THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 1917 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: 1917 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: 1917). TODAY WE GAINED A CONSIDERABLE: 2018 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:
i.e 1917 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP's) TOGETHER WITH AN INCREASE OF 101 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 22 CENT FALL IN PRICE OF SILVER AND A CLOSING PRICE OF $15.84 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 29 MILLION OZ. IT SURE LOOKS LIKE A 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. 1.022 MILLION OZ TO BE EXACT or 147% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT JULY MONTH/ THEY FILED AT THE COMEX: 35 NOTICE(S) FOR 175,000 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: 29.160 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 3754 CONTRACTS UP TO 507,347 DESPITE THE FALL IN THE GOLD PRICE/YESTERDAY'S TRADING (A LOSS IN PRICE OF $10.75). 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 FAIR SIZED 3851 CONTRACTS : AUGUST SAW THE ISSUANCE OF: 3851 CONTRACTS, DECEMBER HAD AN ISSUANCE OF 0 CONTACTS AND THEN ALL OTHER MONTHS ZERO. The new COMEX OI for the gold complex rests at 507,802. 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 SMALL OI GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 7605 CONTRACTS: 3754 OI CONTRACTS INCREASED AT THE COMEX AND 3851 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN: 7605 CONTRACTS OR 760,500 OZ = 23.65 TONNES. AND STRANGELY ALL OF THIS DEMAND OCCURRED WITH A FALL IN THE PRICE OF GOLD YESTERDAY TO THE TUNE OF $10.75???
YESTERDAY, WE HAD 4830 EFP'S ISSUED.
ACCUMULATION OF EFP'S GOLD AT J.P. MORGAN'S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JUNE : 66064 CONTRACTS OR 6,606,400 OZ OR 205.48 TONNES (8 TRADING DAYS AND THUS AVERAGING: 8258 EFP CONTRACTS PER TRADING DAY OR 825,800 OZ/ TRADING DAY),,
TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 8 TRADING DAYS IN TONNES: 205.48 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES
THUS EFP TRANSFERS REPRESENTS 205.48/2550 x 100% TONNES = 8.05% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JULY ALONE.***
ACCUMULATION OF GOLD EFP'S YEAR 2018 TO DATE: 4,308.38* 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 3754 DESPITE THE $10,75 FALL IN PRICING GOLD UNDER TOOK YESTERDAY // . WE ALSO HAD AN FAIR SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 3851 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 3851 EFP CONTRACTS ISSUED, WE HAD A STRONG NET GAIN OF 7605 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:
3851 CONTRACTS MOVE TO LONDON AND 3754 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 23.65 TONNES). ..AND BELIEVE IT OR NOT BUT ALL OF THIS DEMAND OCCURRED WITH A FALL OF $10.75 IN TRADING. AT THE COMEX!!!. THE COMEX IS AN OUTRIGHT FRAUD
we had: 8 notice(s) filed upon for 800 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 $2.30 TODAY: /
NO CHANGE IN GOLD INVENTORY AT THE GLD
/GLD INVENTORY 799.02 TONNES
Inventory rests tonight: 799.02 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 UP 12 CENTS:
ANOTHER BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.035 MILLION OZ
Let us head over to the comex:
The total gold comex open interest ROSE BY A CONSIDERABLE SIZED 3754 CONTRACTS UP to an OI level 507,347 DESPITE THE FALL IN THE PRICE OF GOLD ($10.75 LOSS/ YESTERDAY'S 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 SMALL SIZED COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 3851 CONTRACTS WERE ISSUED:
FOR AUGUST 3851 CONTRACTS, DECEMBER ISSUANCE OF 0, AND ZERO FOR ALL OTHER MONTHS:
TOTAL 3851 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 STRONG 7605 OI TOTAL CONTRACTS IN THAT 3851 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED 3754 COMEX CONTRACTS.
NET GAIN ON THE TWO EXCHANGES: 7605 contracts OR 760,500 OZ OR 23.65 TONNES.
Result: A CONSIDERABLE SIZED INCREASE IN COMEX OPEN INTEREST DESPITE THE FALL IN PRICE/YESTERDAY (ENDING UP WITH A LOSS IN PRICE OF $10.75). THE TOTAL OPEN INTEREST GAIN ON THE TWO EXCHANGES: 7605 OI CONTRACTS..
We have now entered the non-active contract month of JULY where we LOST 17 CONTRACTS TO STAND AT 152. CONTRACTS. WE HAD 12 NOTICES FILED YESTERDAY SO WE LOST 5 CONTRACTS OR AN ADDITIONAL 500 OZ OF GOLD WILL NOT STAND AT THE COMEX AS THESE GOLD INVESTORS MORPHED INTO LONDON BASED FORWARDS AND RECEIVED A SWEETENER FIAT FOR THEIR EFFORTS.
AFTER JULY COMES THE ACTIVE AUGUST CONTRACT MONTH AND HERE THE OI LOST 11,738 CONTRACTS DOWN TO 275,674 CONTRACTS. AFTER AUGUST, SEPTEMBER LOST 102 CONTRACTS AND THUS LOWERS TO 240 CONTRACTS. THE NEXT ACTIVE DELIVERY MONTH IS OCTOBER AND HERE THE OI FELL BY 416 CONTRACTS UP TO 22,689 CONTRACTS.
WE HAD 8 NOTICES FILED AT THE COMEX FOR 800 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 23,700 OZ ARE STANDING (.7371 TONNES). see data below
FOR COMPARISON FOR THE UPCOMING AUGUST 2017 GOLD COMEX CONTRACT MONTH:
A)AT THIS STAGE IN THE DELIVERY CYCLE/JULY 12/2017 WE HAD 266,028 CONTRACTS O/S VS TODAY: 275,674,
(SO WE HAVE A GREATER OI THAN WITH LAST YR)
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: 334,492 contracts
CONFIRMED COMEX VOL. FOR YESTERDAY: 310,238
contracts
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And now for the wild silver comex results.
Total silver OI ROSE BY A SMALL SIZED 101 CONTRACTS FROM 207,701 UP TO 207,802 (AND A LITTLE CLOSER TO THE THE NEW RECORD OI FOR SILVER SET APRIL 9.2018/ 243,411 CONTRACTS) DESPITE THE LARGE 22 CENT LOSS IN SILVER PRICING/ YESTERDAY. SINCE WE ARE NOW INTO THE ACTIVE DELIVERY MONTH OF JULY, WE WERE INFORMED THAT WE STRONG SIZED 1917 EFPCONTRACTS 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: 1917. ON A NET BASIS WE GAINED 2018 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED A 101 CONTRACT GAIN AT THE COMEX COMBINING WITH THE ADDITION OF 1917 OI CONTRACTS NAVIGATING OVER TO LONDON.
NET GAIN ON THE TWO EXCHANGES: 2018 CONTRACTS
AMOUNT STANDING FOR SILVER AT THE COMEX
We are now in the active delivery month of JULY and here the front month fell by 2 contacts to stand at 719 contracts. We had 37 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 35 contracts or an additional 175,000 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 84 contracts to stand at 1113. The next active delivery month after August for silver is September and here the OI fell by 1029 contracts DOWN to 155,745
We had 35 notice(s) filed for 175,000 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 11.2017 WE HAD 768 SILVER COMEX OI OUTSTANDING VS TODAY: 719
SO WE ARE RIGHT ON PAR WITH LAST YR.
INITIAL standings for JULY/GOLD
JULY 12/2018.
/INVENTORY RESTS AT 326.752 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
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 8 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 (93) x 100 oz or 9300 oz, to which we add the difference between the open interest for the front month of JULY. (152 contracts) minus the number of notices served upon today (8 x 100 oz per contract) equals 23,700 oz,(.7371 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 (93 x 100 oz) + {(152)OI for the front month minus the number of notices served upon today (8 x 100 oz )which equals 23,700 oz standing in this NON - active delivery month of JULY .
We lost 5 contracts or an additional 500 oz will not 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 0.7371 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 2 deposits into the customer account
i) Into JPMorgan: 539,322.200 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 CNT; 609,993,200 oz
total customer deposits today: 1,149,315,400 oz
we had 0 withdrawals from the customer account;
total withdrawals: nil oz
we had 0 adjustments/
total dealer silver: 77.696 million
total dealer + customer silver: 280.469 million oz
The total number of notices filed today for the JULY. contract month is represented by 35 contract(s) FOR 175,000 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 5148 x 5,000 oz = 25,740,000 oz to which we add the difference between the open interest for the front month of JULY. (719) and the number of notices served upon today (35 x 5000 oz) equals the number of ounces standing.
.
Thus the INITIAL standings for silver for the JULY/2018 contract month: 5148(notices served so far)x 5000 oz + OI for front month of JULY(719) -number of notices served upon today (35)x 5000 oz equals 29,160,000 oz of silver standing for the JULY contract month
WE GAINED 35 CONTRACTS OR AN ADDITIONAL 175,000 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. THIS COMPARES WITH TODAY'S INITIAL STANDING FOR SILVER OF 29,160 MILLION OZ.
As I stated yesterday:
"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: 87,470 CONTRACTS
CONFIRMED VOLUME FOR YESTERDAY: 75,099 CONTRACTS absolutely criminal
YESTERDAY'S CONFIRMED VOLUME OF 75,099 CONTRACTS EQUATES TO 375 million OZ OR 53.4% 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 -3.26% (JULY 11/2018)2. Sprott gold fund (PHYS): premium to NAV RISES TO -0.53% to NAV (JULY 11/2018 )Note: Sprott silver trust back into NEGATIVE territory at -3.28%-/Sprott physical gold trust is back into NEGATIVE/
(courtesy Sprott/GATA)
3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA):
NAV 12.89/TRADING 12.42//DISCOUNT 3.72.
END
And now the Gold inventory at the GLD/
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
JUNE 12/WITH GOLD DOWN $4.75:NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.76 TONNES
JUNE 11/WITH GOLD UP 65 CENTS/THE CROOKS RAIDED THE COOKIE JAR FOR 3.83 TONNES/INVENTORY RESTS AT 828.76 TONNES
JUNE 8/WITH GOLD DOWN 10 CENTS/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY REMAINS AT 832.59 TONNES./
JUNE 7/WITH GOLD UP $1.45, THE CROOKS DECIDED TO RAID AGAIN THE GLD GOLD COOKIE JAR TO THE TUNE OF 3.54 TONNES/GOLD INVENTORY LOWERS TO 832.59 TONNES
JUNE 6/WITH GOLD UP $1.30 TODAY, WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 836.13 TONNES
JUNE 5/WITH GOLD UP $5.30 TODAY, WE HAD A TINY WITHDRAWAL OF .29 TONNES AND THAT NO DOUBT WAS TO PAY FOR FEES/836.13 TONNES
JUNE 4/WITH GOLD DOWN ONLY $2.50, THE CROOKS UNLEASHED A MASSIVE WITHDRAWAL OF 10.61 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 836.42 TONNES
JUNE 1/WITH GOLD DOWN $5.10 TODAY, A HUGE 4.42 TONNES OF GOLD WAS WITHDRAWN FROM THE GLD AND THIS WAS USED IN THE RAID TODAY/INVENTORY RESTS AT 847.03 TONNES
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JULY 12/2018/ Inventory rests tonight at 799.02 tonnes
*IN LAST 410 TRADING DAYS: 127.79 NET TONNES HAVE BEEN REMOVED FROM THE GLD*LAST 360 TRADING DAYS: A NET 28,75 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
end
Now the SLV Inventory/
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 826.752 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 825.717 MILLION OZ
JULY 10/WITH SILVER DOWN 3 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 825.151 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 824.305 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/
JUNE 12/WITH SILVER DOWN 5 CENTS/A HUGE CHANGES IN SILVER INVENTORY AT THE SLV/ THE CROOKS RAID THE SILVER COOKIE JAR BY 1.976 MILLION OZ/INVENTORY LOWERS TO 317.290 MILLION OZ/
jUNE 11/NO CHANGE IN SILVER INVENTORY/319.266 MILLION OZ
JUNE 8/WITH SILVER DOWN 5 CENTS/A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.412 MILLION OZ//INVENTORY LOWERS TO 319.266 MILLION OZ/
JUNE 7/WITH SILVER UP ANOTHER 12 CENTS/A HUGE CHANGE IN SILVER INVENTORY AT THE SL: A WITHDRAWAL OF 1.883 MILLION OZ WITH ALL OF THAT SILVER DEMAND//INVENTORY RESTS AT 320.678 MILLION OZ/
JUNE 6/WITH SILVER UP 14 CENTS TODAY/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 322.561 MILLION OZ/
JUNE 5/WITH SILVER UP 10 CENTS NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 322.561 MILLION OZ
JUNE 4/WITH SILVER DOWN 1 CENTA SMALL CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 522,000 OZ INTO THE SLV/.INVENTORY RISES AT 322.561 MILLION OZ/
JUNE 1/WITH SILVER DOWN 3 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY REMAINS AT 322.039 MILLION OZ/
JULY 12/2018:
Inventory 326.752 MILLION OZ
6 Month MM GOFO 2.08/ and libor 6 month duration 2.51
Indicative gold forward offer rate for a 6 month duration/calculation:
G0FO+ 2.08%
libor 2.51 FOR 6 MONTHS/
GOLD LENDING RATE: .43%
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12 Month MM GOFO+ 2.78%
LIBOR FOR 12 MONTH DURATION: 2.53
GOFO = LIBOR - GOLD LENDING RATE
GOLD LENDING RATE = +.25
end