There's no physical silver on this side of the pond, and there's severe backwardation in London. Harvey explains...
by Harvey Organ of Harvey Organ Blog
MARCH 19/ANOTHER HUGE VOLATILE DAY: GOLD DOWN 90 CENTS TO $1476.30//SILVER UP 38 CENTS TO $12.12//BIG DISCONNECT BETWEEN PHYSICAL SILVER AND PAPER SILVER//CORONAVIRUS UPDATE//LAGARDE FIRES HER BAZOOKA OF A HUGE 750 BILLION QE AND GOLD FALLS//BANK OF ENGLAND LOWERS ITS DISCOUNT RATE TO .10//MUNI MARKET CRASHES//
GOLD::$1476.30 DOWN $0.90
Silver:$12.12//UP 38 CENTS (COMEX TO COMEX CLOSING)
Closing access prices:
Gold : $1474.00
SILVER: $12.08
COMEX DATA
JPMorgan has been receiving gold with reckless abandon and sometimes supplying (stopping)
today RECEIVING: 0/62
DLV615-T CME CLEARINGBUSINESS DATE: 03/18/2020 DAILY DELIVERY NOTICES RUN DATE: 03/18/2020PRODUCT GROUP: METALS RUN TIME: 22:21:07EXCHANGE: COMEXCONTRACT: MARCH 2020 COMEX 100 GOLD FUTURESSETTLEMENT: 1,477.300000000 USDINTENT DATE: 03/18/2020 DELIVERY DATE: 03/20/2020FIRM ORG FIRM NAME ISSUED STOPPED____________________________________________________________________________________________435 H SCOTIA CAPITAL 44657 C MORGAN STANLEY 24737 C ADVANTAGE 18 11800 C MAREX SPEC 5905 C ADM 22____________________________________________________________________________________________
TOTAL: 62 62MONTH TO DATE: 1,850
TOTAL NUMBER OF NOTICES FILED SO FAR: 1850 NOTICES FOR 18500 OZ (5.7542 TONNES)
SILVER
FOR MARCH
total number of notices filed so far this month: 4141 for 20,705,000 oz
BITCOIN MORNING QUOTE $5567 UP $206
BITCOIN AFTERNOON QUOTE.: $6134 UP 776
GLD AND SLV INVENTORIES:
GLD: 929.69 TONNES OF GOLD//NO CHANGES:
A MONSTROUS 5.597 MILLION OZ WAS ADDED WITH SILVER UP 38 CENTS
SLV: 370.835 MILLION OZ./
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IN SILVER THE COMEX OI FELL BY A CONSIDERABLE SIZED 2643 CONTRACTS FROM 166,682 DOWN TO 164,039 AND FURTHER FROM OUR NEW RECORD OF 244,710, (FEB 25/2020. THE LOSS IN OI OCCURRED WITH OUR HUGE 75 CENT LOSS IN SILVER PRICING AT THE COMEX. WE HAD ZERO LONG LIQUIDATION, AS ALL OF THE LOSS IN OI IS DUE TO BANKER SHORT COVERING PLUS AN ATMOSPHERIC EXCHANGE FOR PHYSICAL ISSUANCE AND A STRONG INCREASE IN AMOUNT STANDING AT THE COMEX. WE HAD A HUGE NET GAIN IN OUR TWO EXCHANGES OF 8,102 CONTRACTS (SEE CALCULATIONS BELOW)
WE HAVE ALSO WITNESSED A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY AS WELL WE ARE WITNESSING 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 AN ATMOSPHERIC SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP:,
; MARCH: 00 AND MAY: 10,745 AND JULY: 0 ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE 10,745 CONTRACTS. WITH THE TRANSFER OF 10,745 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 10,745 EFP CONTRACTS TRANSLATES INTO 40.51 MILLION OZ ACCOMPANYING:
1.THE 75 CENT LOSS IN SILVER PRICE AT THE COMEX AND
2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR DELIVERY IN THE LAST 12 MONTHS:
JUNE/2018. (5.420 MILLION OZ);
FOR JULY: 30.370 MILLION OZ
FOR AUG., 6.065 MILLION OZ
FOR SEPT. 39.505 MILLION OZ S
FOR OCT.2.525 MILLION OZ.
FOR NOV: A HUGE 7.440 MILLION OZ STANDING AND
21.925 MILLION OZ FINALLY STAND FOR DECEMBER.
5.845 MILLION OZ STAND IN JANUARY.
2.955 MILLION OZ STANDING FOR FEBRUARY.:
27.120 MILLION OZ STANDING IN MARCH.
3.875 MILLION OZ STANDING FOR SILVER IN APRIL.
18.845 MILLION OZ STANDING FOR SILVER IN MAY.
2.660 MILLION OZ STANDING FOR SILVER IN JUNE//
22.605 MILLION OZ STANDING FOR JULY
10.025 MILLION OZ INITIAL STANDING IN AUGUST.
43.030 MILLION OZ INITIALLY STANDING IN SEPT. (HUGE)
7.32 MILLION OZ INITIALLY STANDING IN OCT
2.630 MILLION OZ STANDING FOR NOV.
20.970 MILLION OZ FINAL STANDING IN DEC
5.075 MILLION OZ FINAL STANDING IN JAN
1.480 MILLION OZ FINAL STANDING IN FEB
21.705 MILLION OZ INITIALLY STANDING FOR MAR
WEDNESDAY, AGAIN OUR CROOKS USED COPIOUS PAPER IN ORDER TO LIQUIDATE SILVER'S PRICE...AND THEY WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL 75 CENTS).. AND, OUR OFFICIAL SECTOR/BANKERS WERE UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE SILVER LONGS FROM THEIR POSITIONS. AS WE DID HAVE A HUGE NET GAIN OF 8429 CONTRACTS OR 42.145 MILLION OZ ON THE TWO EXCHANGES!
ACCUMULATION FOR EFP'S/SILVER/J.P.MORGAN'S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF MARCH:
63,732 CONTRACTS (FOR 14 TRADING DAYS TOTAL 63,732 CONTRACTS) OR 318.660 MILLION OZ: (AVERAGE PER DAY: 4552 CONTRACTS OR 22.76 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF MAR: 318.660 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 31.22% 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 2020 TO DATE SILVER EFP'S: 759.67 MILLION OZ.
JANUARY 2020 EFP TOTALS SO FAR: 181.61 MILLION OZ
FEB 2020 EFP'S TOTAL : ...... 259.600 MILLION OZ
MARCH EFP'S SO FAR..... 318.66 MILLION OZ (14 TRADING DAYS AND ALREADY SURPASSED FEB AND JAN MONTHLY TOTALS)
RESULT: WE HAD A CONSIDERABLE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2643, WITH THE $0.75 LOSS IN SILVER PRICING AT THE COMEX /WEDNESDAY... THE CME NOTIFIED US THAT WE HAD AN ATMOSPHERIC SIZED EFP ISSUANCE OF 10,745 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
TODAY WE GAINED AN ATMOSPHERIC : 8102 TOTAL OI CONTRACTS ON THE TWO EXCHANGES: (WITH THE 75 CENT FALL IN PRICE
THE TALLY//EXCHANGE FOR PHYSICALS
i.e 10,745 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP's) TOGETHER WITH DECREASE OF 2643 OI COMEX CONTRACTS.AND ALL OF THIS DEMAND HAPPENED WITH A 75 CENT LOSS IN PRICE OF SILVER/ AND A CLOSING PRICE OF $11.74 // WEDNESDAY'S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY AS WELL AS A HUGE INCREASE IN QUEUE JUMPING!!
In ounces AT THE COMEX, the OI is still represented by JUST UNDER 1 BILLION oz i.e. 0.8240 BILLION OZ TO BE EXACT or 117% of annual global silver production (ex Russia & ex China).
FOR THE NEW MAR DELIVERY MONTH/ THEY FILED AT THE COMEX: 86 NOTICE(S) FOR 430,000 OZ OF SILVER.
IN SILVER,PRIOR TO TODAY, WE SET THE NEW COMEX RECORD OF OPEN INTEREST AT 244,196 CONTRACTS ON AUG 22.2018. AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $14.70//TODAY'S RECORD OF 244,705 IS SET WITH A PRICE OF: 18.91 (FEB 25/2020)
.
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) , JULY 2018 FINAL AMOUNT STANDING: 30.370 MILLION OZ ) FOR AUGUST 6.065 MILLION OZ. , SEPT: A HUGE 39.505 MILLION OZ./ OCTOBER: 2,520,000 oz NOV AT 7.440 MILLION OZ./ DEC. AT 21.925 MILLION OZ JANUARY AT 5.825 MILLION OZ.AND FEB 2019: 2.955 MILLION OZ/ MARCH: 27.120 MILLION OZ/ APRIL AT 3.875 MILLION OZ/ A MAY: 18.845 MILLION OZ ..JUNE 2.660 MILLION OZ//JULY 22.605 MILLION OZ; AUGUST 10.025 MILLION OZ/ SEPT 43.030 MILLION OZ//OCT: 7.665 MILLION OZ// NOV: 2.630 MILLION OZ//DEC: 20.970 MILLION OZ; JAN: 5.075 MILLION OZ.//FEB 1.480 MILLION OZ//MAR: 21.705 MILLION OZTHE RECORD PRIOR TO TODAY WAS SET IN FEB 25/2018: 244,710 CONTRACTS, WITH A SILVER PRICE OF $18.90//.HUGE ANNUAL EFP'S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017 RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 385.75 MILLION OZ/ AND THE SECOND HIGHEST RECORDED EFP ISSUANCE JUNE 2018 345.43 MILLION OZ
AND 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)
GOLD
IN GOLD, THE COMEX OPEN INTEREST FELL BY A CONSIDERABLE BUT SMALLER THAN EXPECTED 8363 CONTRACTS TO 565,562 AND MOVING FURTHER FROM OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.
THE LOSS OF COMEX OI OCCURRED WITH OUR MONSTROUS LOSS IN PRICE OF $48.00 /// COMEX GOLD TRADING// WEDNESDAY// WE HAD CONSIDERABLE BANKER SHORT COVERING ALONG WITH ZERO LONG LIQUIDATION ACCOMPANYING AN ATMOSPHERIC EX. FOR PHYSICAL ISSUED AND YET THIS WAS COUPLED WITH THAT STRONG FALL IN PRICE. ON THE TWO EXCHANGES DESPITE THE HUGE FALL IN PRICE, WE GAINED A HUMONGOUS 10,414 CONTRACTS (32.39 TONNES)
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A HUMONGOUS AND CRIMINALLY SIZED 18,777 CONTRACTS:
CONTRACTS, FEB> 0 CONTRACTS; MARCH 00 APRIL: 17,748. MAY: 0, AND JUNE. 1029 AND ALL OTHER MONTHS ZERO//TOTAL: 18,777. The NEW COMEX OI for the gold complex rests at 565,562. 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 STRONG INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 10,414 CONTRACTS: 8239 CONTRACTS DECREASED AT THE COMEX AND 18,777 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN OF 10,414 CONTRACTS OR 32.39 TONNES. WEDNESDAY, WE HAD A HUGE LOSS OF $48.00 IN GOLD TRADING......
AND WITH THAT HUMONGOUS LOSS IN PRICE, SURPRISINGLY WE STILL HAD A HUGE SIZED GAIN IN TOTAL/TWO EXCHANGES GOLD TONNAGE OF 32.39 TONNES!!!!!! THE BANKERS/OFFICIAL SECTOR WERE SUPPLYING INFINITE SUPPLIES OF SHORT GOLD COMEX PAPER WITH RECKLESS ABANDON. THE BANKERS WERE SUCCESSFUL IN THEIR ATTEMPT TO LOWER GOLD'S PRICE (LOSS $48.00). AND IT SEEMS THAT THEIR ATTEMPT TO FLEECE ANY GOLD LONGS FROM THE GOLD ARENA WERE UNSUCCESSFUL AS WE HAD A STRONG GAIN IN OUR TWO EXCHANGES:
SEE BELOW:
WE HAD A HUMONGOUS INCREASE IN EXCHANGE FOR PHYSICALS (18,777) ACCOMPANYING THE SMALLER THAN EXPECTED LOSS IN COMEX OI.(8102 OI): TOTAL GAIN IN THE TWO EXCHANGES: 10,414 CONTRACTS. WE NO DOUBT HAD HUGE BANKER SHORT COVERING, STRONG INCREASE IN GOLD OZ STANDING AT THE COMEX, AND NO LONG LIQUIDATION.....COUPLED WITH THAT HUGE LOSS IN PRICE
SPREADING OPERATION FOR OUR NEWCOMERS:
WE HAVE NOW COMMENCED IN GOLD THE ILLEGAL SPREADING OPERATION \ FOR NEWCOMERS, HERE ARE THE DETAILS:
SPREADING LIQUIDATION HAS NOW STOPPED IN GOLD AS THEY NOW BEGIN TO MORPH INTO SILVER AS WE HEAD TOWARDS THE NEW FRONT MONTH WILL BE APRIL.
FOR THOSE OF YOU WHO ARE NEW, HERE IS THE MODUS OPERANDI OF THE SPREADERS AND THE CRIMINAL ELEMENT BEHIND IT:
THE SPREADING LIQUIDATION OPERATION IS NOW OVER FOR SILVER..AND WE WILL NOW MORPH INTO AN ACCUMULATION PHASE OF SPREADING CONTRACTS FOR GOLD. THEY WILL ACCUMULATE CONSIDERABLE AMOUNT OF THE CONTRACTS AND THEN LIQUIDATE ONE WEEK PRIOR TO FIRST DAY NOTICE
FOR THOSE OF YOU WHO ARE NEWCOMERS HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR;
MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:
.
AS I HAVE MENTIONED IN PREVIOUS COMMENTARIES:
"AS YOU WILL SEE, THE CROOKS WILL NOW SWITCH TO GOLD AS THEY INCREASE THE OPEN INTEREST FOR THE SPREADERS. THE TOTAL COMEX SILVER OPEN INTEREST WILL RISE FROM NOW ON UNTIL ONE WEEK PRIOR TO FIRST DAY NOTICE AND THAT IS WHEN THEY START THEIR CRIMINAL LIQUIDATION.
HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF FEB HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF MARCH FOR SILVER:
AS I HAVE MENTIONED IN PREVIOUS COMMENTARIES, HERE IS THE BANKERS MODUS OPERANDI:
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE IN THIS NON ACTIVE MONTH OF MAR.BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN GOLD WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (APRIL), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE."
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2020 INCLUDING TODAY
ACCUMULATION OF EFP'S GOLD AT J.P. MORGAN'S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MAR : 261,373 CONTRACTS OR 26,137,300 oz OR 812.97* TONNES (14 TRADING DAYS AND THUS AVERAGING: 18,669 EFP CONTRACTS PER TRADING DAY (*NEW ALL TIME RECORD FOR A MONTHLY EX. FOR PHYSICAL ISSUANCE)
TO GIVE YOU AN IDEA AS TO THE STRONG SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 14 TRADING DAY(S) IN TONNES: 812.97 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2018, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES
THUS EFP TRANSFERS REPRESENTS 812.97/3550 x 100% TONNES =23.90% OF GLOBAL ANNUAL PRODUCTION
ISSUANCE OF EXCHANGE FOR PHYSICAL GOLD HAS EXPLODED THIS MONTH.
ACCUMULATION OF GOLD EFP'S YEAR 2020 TO DATE: 2036.96 TONNES
JANUARY 2220 TOTAL EFP ISSUANCE; : 570.19 TONNES
FEB 2020 TOTAL EFP ISSUANCE : 653.78 TONNES
MARCH TOTAL EFP ISSUANCE SO FAR 812.97 TONNES (//(14 TRADING DAYS//AND A NEW ALL TIME RECORD ISSUANCE)
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.
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A SMALLER THAN EXPECTED 8363 CONTRACTS TO 567,951 MOVING FURTHER FROM OUR RECORD THAT WAS SET IN JANUARY/2020: {799,541 OI(SET JAN 16/2020)} AND PREVIOUS TO THAT: 797,110 (SET JAN 7/2020). AND THIS FALL IN OI WAS SET WITH A STRONG LOSS OF $48.00 IN GOLD PRICING //WEDNESDAY'S COMEX TRADING//). HOWEVER WE ALSO HAD AN ATMOSPHERIC EFP ISSUANCE (18,777 CONTRACTS),. THUS WE HAD 1) HUGE BANKER SHORT COVERING AT THE COMEX AND 2) ZERO LONG LIQUIDATION ......AS OUR TWO EXCHANGES ROSE HUGELY IN TOTAL OPEN INTEREST..DESPITE THE HUGE LOSS IN PRICE.... BASICALLY LONGS JUST TRANSFERRED OVER TO LONDON COUPLED WITH CONSIDERABLE BANKER SHORT COVERING AT THE COMEX
EXCHANGE FOR PHYSICAL ISSUANCE
WE ARE NOW IN THE NON ACTIVE DELIVERY MONTH OF MARCH.. THE CME REPORTS THAT THE BANKERS ISSUED AN ATMOSPHERIC SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 18,777 EFP CONTRACTS WERE ISSUED:
FEB: 0; MARCH 00 AND APRIL: 17,748, MAY: 0 JUNE : 1029 AND ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 18,777 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 OUR 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: 10,745 TOTAL CONTRACTS IN THAT 18,777 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A SMALL SIZED 8363 COMEX CONTRACTS. THE BANKERS PROVIDED ALL THE NECESSARY SHORT PAPER TO WHICH OUR LONGS DUTIFULLY ACCEPTED AS THEY GOBBLED UP ATMOSPHERIC AMOUNTS OF EXCHANGE FOR PHYSICALS COUPLED WITH A HUGE BANKER SHORT COVERING.(FOLLOWING THE COMEX OI DECLINE)
THE BANKERS WERE SUCCESSFUL IN LOWERING GOLD'S PRICE //// (IT FELL BY $48.00). THEY WERE MOST DEFINITELY UNSUCCESSFUL IN FLEECING ANY LONGS, AS THE TOTAL GAIN ON THE TWO EXCHANGES 32.39 TONNES WAS MAINLY DUE TO BANKER SHORT COVERING AND ISSUANCE OF EXCHANGE FOR PHYSICAL ISSUANCE.
NET GAIN ON THE TWO EXCHANGES :: 10,745 CONTRACTS OR 1,074,500 OZ OR 32.39 TONNES.
We had 0 kilobar entries
total dealer deposits:nil oz
total dealer withdrawals: nil oz
we had 0 deposit into the customer account
i) Into JPMorgan: 0 oz
ii) Into everybody else: 0
total deposits: 0 oz
we had 0 gold withdrawals from the customer account:
total gold withdrawals; nil oz
ADJUSTMENTS:
Out of International Delaware: 5,787.18 oz was adjusted out of the DEALER and this lands into the CUSTOMER account of INT DELAWARE
and this is a deemed settlement: .1800 tones
The front month of MARCH saw its open interest register 133 contracts for a GAIN of 49 contracts.. We had 3 notices filed on WEDNESDAY so we gained 52 contracts or an additional 5200 oz will stand on this side of the pond as they refused to morph into London based forwards. The bankers are seeking rapidly depleting physical supplies of gold.
APRIL HAD a LOSS of 8258 contracts DOWN to 227,425 contracts
May saw its ANOTHER LOSS of 5 contracts to stand at 303.
June saw a GAIN of 517 contracts up to 225,850
We had 62 notices filed today for 6200 oz
FOR THE MAR 2020 CONTRACT MONTH)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 62 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 and 0 notices by the squid (Goldman Sachs)To calculate the INITIAL total number of gold ounces standing for the March /2020. contract month, we take the total number of notices filed so far for the month (1850) x 100 oz , to which we add the difference between the open interest for the front month of MAR. (133 CONTRACTS ) minus the number of notices served upon today (62 x 100 oz per contract) equals 192,100 OZ OR 5.9750 TONNES) the number of ounces standing in this active month of MAR
thus the INITIAL standings for gold for the MAR/2020 contract month:
No of notices served (1850)x 100 oz) + (133 OI for the front month minus the number of notices served upon today (62 x 100 oz )which equals 192,100 oz standing OR 5.975 TONNES in this active delivery month which is a great amount for gold standing for a MAR. delivery month.
We gained 52 contracts or 5200 oz will stand for delivery at the comex.
NEW PLEDGED GOLD: BRINKS
3027.500 OZ REMOVED TO THE PLEDGED ACCOUNT JAN 10.2020/Brinks
176,211.457 oz NOW PLEDGED JAN 21.2020/HSBC 5.4807 TONNES
380,014.443 oz PLEDGED MARCH 2020 JPMORGAN: 11.8200 TONNES
TOTAL PLEDGED GOLD NOW IN EFFECT: 556,225.90 OZ OR 17.3007 TONNES
SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES.... WE HAVE ONLY 37.529 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS.
HERE IS WHAT STOOD DURING THESE PAST 7 MONTHS: AUGUST 27.153 TONNES
SEPT: 5.4525 TONNES
OCT...................................................................................... 37.99 TONNES
NOV...... 5.3841 tonnes
DEC............................... 45.912 TONNES
JAN........................ 8.448 TONNES
FEB..................................................... 25.611 tonnes
MARCH................................................................. 5.975 TONNES
total: 161.89 tonnes
ACCORDING TO COMEX RULES:
IF WE INCLUDE THE PAST 9 MONTHS OF SETTLEMENTS WE HAVE 25.88 TONNES SETTLED
IF WE ADD THE 9 DELIVERY MONTHS: 161.89 tonnes
Thus:
161.89 tonnes of delivery -
25.88 TONNES DEEMED SETTLEMENT
=136.01 TONNES STANDING FOR METAL AGAINST 37.529 TONNES OF REGISTERED OR FOR SALE COMEX GOLD! THIS IS WHY GOLD IS SCARCE AT THE COMEX.
thus:registered gold that can be used to settle upon:1,206,568.5 (37.529 tonnes)
**
end
Now the SLV Inventory/
MARCH 19/WITH SILVER UP 38 CENTS TODAY//A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: ANOTHER 5.597 MILLION OZ OF SILVER VAPOUR ADDED TO THE SLV INVENTORY//INVENTORY RESTS AT 370.835 MILLION OZ/
MARCH 18//WITH SILVER DOWN 75 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A MONSTROUS 12.035 MILLION PAPER OZ ADDED INTO INVENTORY//INVENTORY RESTS AT 365.238 MILLION OZ//
MARCH 17/WITH SILVER DOWN 20 CENTS TODAY; A BIG CHANGES IN SILVER INVENTORY AT THE SLV; A WITHDRAWAL OF 3.735 MILLION OZ FROM THE SLV INVENTORY: INVENTORY RESTS AT 353.203 MILLION OZ///
MARCH 16/WITH SILVER DOWN 177 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV//INVENTORY RESETS AT 356.938 MILLION OZ//
MARCH 13//WITH SILVER DOWN 155 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.893 MILLION OZ FROM THE SLV///INVENTORY RESTS AT 356.938 MILLION OZ;
MARCH 12/WITH SILVER DOWN 77 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.119 MILLION OZ FROM THE SLV//INVENTORY RESTS AT 359.828 MILLION OZ
MARCH 11/SILVER DOWN 16 CENTS: A SMALL WITHDRAWAL OF .467 MILLION OZ AT THE SLV/INVENTORY RESTS AT 360.947 MILLION OZ//
MARCH 10/WITH SILVER DOWN 10 CENTS: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 361.414 MILLION OZ//
MARCH 9/NO CHANGE IN INVENTORY LEVELS: SLV INVENTORY RESTS AT 361.414 MILLION OZ//
MARCH 6//WITH SILVER DOWN 10 CENTS: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 361.414 MILLION OZ
MARCH 5//WITH SILVER UP 15 CENTS TODAY; A SMALL WITHDRAWAL DUE TO FEES ETC//INVENTORY RESTS TONIGHT AT 361.414 MILLION OZ..
MARCH 4/SILVER SILVER UP 3 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 361.880 MILLION OZ//
MARCH 3/WITH SILVER UP 44 CENTS//A HUGE CHANGE IN SILVER INVENTORY AT THE SLV/: A LOSS OF 5.75 MILLION OZ FROM THE SLV../INVENTORY RESTS AT 361.880 MILLION OZ
MARCH 2//WITH SILVER UP 18 CENTS//NO CHANGE IN SILVER INVENTORY AT THE SLV..INVENTORY RESTS AT 367.632 MILLION OZ//
FEB 28/ WITH SILVER DOWN 18 CENTS: a loss of 1.867 million oz//inventory rests at 367.632 million oz
FEB 27/WITH SILVER DOWN TODAY: A STRONG GAIN OF 747000 OZ OF SILVER INTO THE SLV
FEB 26\WITH SILVER DOWN TODAY,A HUGE GAIN OF 5.319 MILLION OZ OF SILVER INTO THE SLV//INVENTORY RESTS AT 368.752 MILLION OZ
FEB 24/WITH SILVER UP 35 CENTS TODAY; NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 363.433 TONNES
FEB 21//WITH SILVER UP 22 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 363.433 TONNES
FEB 20/WITH SILVER DOWN 7 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 363.433 TONNES
FEB 19/WITH SILVER UP 23 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 363.433 MILLION OZ//
FEB 18/. WITH SILVER UP 42 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV//INVENTORY RESTS AT 363.433 MILLION OZ.
MARCH 19.2020:
SLV INVENTORY RESTS TONIGHT AT 370.835 MILLION OZ.
END
LIBOR SCHEDULE AND GOFO RATES:
6 Month MM GOFO 0.85/ and libor 6 month duration 0.88
Indicative gold forward offer rate for a 6 month duration/calculation:
G0LD LENDING RATE: + .03
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12 Month MM GOFO+ 0.89%
LIBOR FOR 12 MONTH DURATION:0.86
GOFO = LIBOR - GOLD LENDING RATE
GOLD LENDING RATE = -.03
end