Harvey Organ: Demand For Physical Silver INTENSIFYING - Backwardation Is SEVERE
Harvey has a very important update today after the latest raid we saw in gold & silver, and he says its' nothing short of wild...
by Harvey Organ of Harvey Organ Blog
SEPTEMBER 4/GOLD DOWN $7.55 TO $1193.60/SILVER IS DOWN 37 CENTS TO $14.16/ANOTHER RAID ORCHESTRATED BY THE CROOKS TODAY/BIG SPANISH BANKS IN TROUBLE AS THEY HAVE HUGE EXPOSURE TO EMERGING NATION DEBT/SO DOES THE BIG ITALIAN BANK, UNICREDIT/SYRIA'S ASSAD WITH HELP FROM IRAN BEGINS ITS ASSAUT ON IDLIB PROVINCE/EMERGING NATION CONTAGION CATCHES FIRE AS ALMOST OF THESE GUYS ARE IN TROUBLE DUE TO HUGE EXTERNAL DEBT/GM SALES PLUMMET/MORE SWAMP STORIES FOR YOU TONIGHT/
GOLD: $1193.60 DOWN $7.55 (COMEX TO COMEX CLOSINGS)
Silver: $14.16 DOWN 37 CENTS (COMEX TO COMEX CLOSING)
Closing access prices:
Gold $1191.60
silver: $14.16
For comex gold:
AUGUST/
And now Sept:
NUMBER OF NOTICES FILED TODAY FOR SEPT CONTRACT: 49 NOTICE(S) FOR 4,900 oz
Total number of notices filed so far for Sept: 420 for 42,000 (1.306 tonnes)
For silver:
Sept
316 NOTICE(S) FILED TODAY FOR
1,580,000 OZ/
Total number of notices filed so far this month: 4075 for 20,375,000 oz
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Bitcoin: BID $7278/OFFER $7363: UP $63(morning)
Bitcoin: BID/ $73405/offer $7390: UP $89(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: $1206.81
NY price at the same time:$1201.05
PREMIUM TO NY SPOT: $5.76
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Second gold fix early this morning: $ 1202.73
USA gold at the exact same time:$1198.35
PREMIUM TO NY SPOT: $3,.38
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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 CONTINUES TO FALL AND TODAY BY A CONSIDERABLE 2283 CONTRACTS FROM 215,123 DOWN TO 211,840 DESPITE FRIDAY'S TINY 1 CENT FALL IN SILVER PRICING AT THE COMEX.
TODAY WE AGAIN MOVED CONSIDERABLY AWAY FROM LAST WEEK'S RECORD SETTING OPEN INTEREST OF 244,196 CONTRACTS SET IN THE MONTH OF AUGUST.
WE HAVE ALSO WITNESSED A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY(WELL OVER 30 MILLION OZ AT THE COMEX FOR JULY , 6 MILLION OZ FOR AUGUST AND NOW OVER 31 MILLION OZ STANDING IN SEPTEMBER. 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 A VERY STRONG SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP:
24 EFP'S FOR SEPT. 2650 EFP'S FOR DECEMBER AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE: OF 2674 CONTRACTS. WITH THE TRANSFER OF 2674 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 2674 EFP CONTRACTS TRANSLATES INTO 13.37MILLION OZ ACCOMPANYING:
1.THE 1 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); 30.370 MILLION OZ STANDING FOR DELIVERY IN JULY, FOR AUGUST: 6.065 MILLION OZ AND NOW 31.505 MILLION OZ STANDING SO FAR IN SEPT.
ACCUMULATION FOR EFP'S/SILVER/J.P.MORGAN'S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF SEPT:
2,674 CONTRACTS (FOR 1 TRADING DAYS TOTAL 2674 CONTRACTS) OR 13.37 MILLION OZ: (AVERAGE PER DAY: 2674 CONTRACTS OR 13.37 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF SEPT: 13.37 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 1.91% 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: 2,051.2 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
ACCUMULATION FOR JULY 2018: 172.84 MILLION OZ
ACCUMULATION FOR AUGUST 2018: 205.23 MILLION OZ.
RESULT: WE HAD A CONSIDERABLE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 2283 DESPITE THE 1 CENT FALL IN SILVER PRICING AT THE COMEX FRIDAY. THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 2674 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) .
TODAY WE GAINED A FAIR SIZED: 391 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:
i.e 2674 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP's) TOGETHER WITH A DECREASE OF 2283 OI COMEX CONTRACTS. AND ALL OF THIS GAIN IN DEMAND HAPPENED WITH A TINY 1 CENT LOSS IN PRICE OF SILVER AND A CLOSING PRICE OF $14.53 WITH RESPECT TO FRIDAY'S TRADING. YET WE HAD A GIGANTIC AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY IN THE BIG JULY DELIVERY MONTH OF SLIGHTLY OVER 30 MILLION OZ, IN AUGUST ANOTHER BIG 6.065 MILLION OZ IN A NON ACTIVE MONTH AND NOW IN SEPTEMBER AN INITIAL MONSTROUS 31.505 MILLION OZ AMOUNT OF SILVER STANDING FOR DELIVERY IN SEPTEMBER.. NOBODY IS PAYING ATTENTION TO THE HUGE NUMBER OF PHYSICAL OUNCES STANDING FOR SILVER THESE PAST SEVERAL MONTHS.
In ounces AT THE COMEX, the OI is still represented by OVER 1 BILLION oz i.e. 1.059 MILLION OZ TO BE EXACT or 151% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT AUGUST MONTH/ THEY FILED AT THE COMEX: 316 NOTICE(S) FOR 1,580,000 OZ OF SILVER
IN SILVER,PRIOR TO TODAY, WE SET THE NEW COMEX 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.
AND NOW WE RECORD FOR POSTERITY ANOTHER ALL TIME RECORD OPEN INTEREST AT THE COMEX OF 244.,196 CONTRACTS ON AUGUST 22/2018 AND AGAIN WHEN THIS RECORD WAS SET, THE PRICE OF SILVER WAS $14.78 AND LOWER IN PRICE THAN PREVIOUS RECORDS.
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. AND NOW SEPT: AN INITIAL HUGE 30.505 MILLION OZ.HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018) AND NOW AUGUST 22/2018: 244,196 CONTRACTS, WITH A SILVER PRICE OF $14.78.HUGE 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 FELL BY A CONSIDERABLE SIZED 6778 CONTRACTS DOWN TO 466,584 DESPITE THE GAIN IN THE COMEX GOLD PRICE/FRIDAY'S TRADING (A RISE IN PRICE OF $2.15). THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A VERY GOOD SIZED 4,330 CONTRACTS:
OCTOBER HAD 189 EFP'S ISSUED AND, DECEMBER HAD AN ISSUANCE OF 4141 CONTACTS AND ALL OTHER MONTHS ZERO. The NEW COMEX OI for the gold complex rests at 466,584. 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 AN A CONSIDERABLE SIZED OI LOSS IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 2448 CONTRACTS: 6778 OI CONTRACTS DECREASED AT THE COMEX AND 4330 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI LOSS: 2448 CONTRACTS OR 244,800 OZ = 7.614 TONNES. AND ALL OF THIS LACK OF DEMAND OCCURRED WITH A RISE IN THE PRICE OF GOLD/ FRIDAY TO THE TUNE OF $2.15.
FRIDAY, WE HAD 10246 EFP'S ISSUED.
ACCUMULATION OF EFP'S GOLD AT J.P. MORGAN'S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF SEPT : 4330 CONTRACTS OR 433,000 OZ OR 13.46 TONNES (1 TRADING DAYS AND THUS AVERAGING: 4330 EFP CONTRACTS PER TRADING DAY OR 433,000 OZ/ TRADING DAY),,
TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 1 TRADING DAYS IN TONNES: 13.46 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES
THUS EFP TRANSFERS REPRESENTS 13.46/2550 x 100% TONNES = 0.52% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JULY ALONE.***
ACCUMULATION OF GOLD EFP'S YEAR 2018 TO DATE: 5,210.42* 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)
ACCUMULATION OF GOLD EFP FOR JULY 2018 605.5 TONNES (21 TRADING DAYS)
ACCUMULATION OF GOLD EFP FOR AUG. 2018 488.54 TONNES (23 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 DECREASE IN OI AT THE COMEX OF36778 DESPITE THE GAIN IN PRICING ($2.15 THAT GOLD UNDERTOOK FRIDAY) // . WE ALSO HAD A VERY GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 4330 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 4330 EFP CONTRACTS ISSUED, WE HAD A LOSS OF 2448 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:
4330 CONTRACTS MOVE TO LONDON AND 6778 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the LOSS in total oi equates to 7.614 TONNES). ..AND THIS GAIN IN DEMAND OCCURRED WITH THE GAIN OF $2.15 IN FRIDAY'S TRADING AT THE COMEX.
we had: 49 notice(s) filed upon for 4900 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 DOWN $7.55 TODAY: /
THE COMEX BLEEDS GOLD AGAIN AS WE HAVE ANOTHER BIG CHANGE IN GOLD INVENTORY AT THE GLD
A WITHDRAWAL OF 2.65 TONNES
/GLD INVENTORY 755.16 TONNES
Inventory rests tonight: 755.16 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 37 CENTS TODAY
NO CHANGES IN SILVER INVENTORY AT THE SLV;
/INVENTORY RESTS AT 329.856 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 FELL BY A CONSIDERABLE SIZED 6778 CONTRACTS DOWN to an OI level 466,584 DESPITE THE RISE IN THE PRICE OF GOLD ($2.15 GAIN/ FRIDAY'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 AS WELL AS WE WITNESS THE COMEX OPEN INTEREST COLLAPSE. IT IS UNUSUAL TO SEE THE OPEN INTEREST IN GOLD CONTINUE TO CONTRACT AS WE START A NEW MONTH (SIMILAR TO WHAT WE ARE WITNESSING IN SILVER). MAYBE THE BANKS ARE TRYING TO UNLOAD AS MANY AS POSSIBLE OF THEIR SHORT PAPER GOLD/SILVER CONTRACTS.
WE ARE NOW IN THE NON ACTIVE DELIVERY MONTH OF SEPT.. THE CME REPORTS THAT THE BANKERS ISSUED A GOOD SIZED COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 4330 EFP CONTRACTS WERE ISSUED:
OCTOBER: 189 EFP'S AND DECEMBER: 4141 AND ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 4330 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 LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A 2448 TOTAL CONTRACTS IN THAT 4330 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED 6778 COMEX CONTRACTS.
NET LOSS ON THE TWO EXCHANGES: 2448 contracts OR 244,800 OZ OR 7.614 TONNES.
Result: A CONSIDERABLE SIZED DECREASE IN COMEX OPEN INTEREST DESPITE THE RISE IN PRICE/ FRIDAY (ENDING UP WITH THE GAIN IN PRICE OF $2.15). THE TOTAL OPEN INTEREST LOSS ON THE TWO EXCHANGES: 2448 OI CONTRACTS..
We are now in the active contract month of SEPTEMBER. For the September contract month, we lost 359 contracts and thus the number of open interest contracts standing for gold in this front month is 144 contracts. We had 371 notices filed on Friday so we surprisingly gained 12 contracts or an additional 1200 oz will stand for gold and these guys refused to accept a fiat bonus and transfer to London. This is very strange for gold to see queue jumping on day no 2 of the delivery cycle. We have been witnessing this phenomenon for the past 17 months in silver.
THE NEXT ACTIVE DELIVERY MONTH IS OCTOBER AND HERE THE OI LOST 1968 CONTRACTS DOWN TO 50,496 CONTRACTS. DECEMBER SAW ITS OPEN INTEREST FALL BY 1604 CONTRACTS DOWN TO 357,166.
WE HAD 49 NOTICES FILED AT THE COMEX FOR 4900 OZ.
FOR THE UPCOMING SEPT GOLD CONTRACT MONTH;
FOR COMEX SEPT/2017 FIRST DAY NOTICE GOLD: 80,700 OZ OR 2.696 TONNES INITIALLY STOOD
BY THE END OF SEPTEMBER: 57,700 OZ OR 1.797 TONNES FINALLY STOOD AS THE OTHERS MORPHED INTO LONDON BASED FORWARDS.
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And now for the wild silver comex results.
Total silver OI FELL BY A CONSIDERABLE SIZED 2283 CONTRACTS FROM 214,123 DOWN TO 211840 (AND CONSIDERABLY FURTHER FROM THE NEW RECORD OI FOR SILVER SET ON AUGUST 22.2018. (THE PREVIOUS RECORD WAS SET APRIL 9.2018/ 243,411 CONTRACTS) AND TODAY'S OI COMEX LOSS OCCURRED WITH A 1 CENT LOSS IN PRICING.
WE ARE NOW INTO THE ACTIVE DELIVERY MONTH OF SEPT.AND, WE WERE INFORMED THAT WE HAD A GOOD SIZED 2674 EFP CONTRACTS:
FOR SEPT: 24 CONTRACTS AND FOR DECEMBER: 2650 CONTRACTS 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: 2674. ON A NET BASIS WE GAINED 391 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED 2883 CONTRACT LOSS AT THE COMEX COMBINING WITH THE ADDITION OF 2674 OI CONTRACTS NAVIGATING OVER TO LONDON.
NET GAIN ON THE TWO EXCHANGES: 391 CONTRACTS...AND ALL OF THIS ACTION OCCURRED WITH A 1 CENT LOSS
The next active delivery month after August for silver is September and here the OI FELL by 3663 contracts DOWN to 2542.
We had 3759 notices filed on Friday so we gained 96 number of contracts or 480,000 oz will stand at the comex as these guys refused to accept a fiat bonus and desired the real physical at the comex. For the past 17 months starting in April 2017, we have been witnessing on a constant basis queue jumping as the commercials seek physical silver immediately after first day notice. The commercials jump ahead of spec longs to retrieve physical as this silver is needed somewhere. It continues again this month unabated.
October LOST 54 contracts to stand at 712. November saw its initial gain of 3 contracts to stand at 3.
After Nov., the next big delivery month is December and here the OI rose by 1802 contracts up to 186,525 contracts.
We had 316 notice(s) filed for 1,580,000 OZ for the SEPTEMBER 2018 COMEX contract for silver
Trading Volumes on the COMEX
PRELIMINARY COMEX VOLUME FOR TODAY: 406861 contracts
CONFIRMED COMEX VOL. FOR YESTERDAY: 272,536 contracts
AND NOW FOR THE ACTIVE SEPTEMBER SILVER CONTRACT AND COMPARISON TO LAST YR:
ON FIRST DAY NOTICE FOR THE SEPT/2017 SILVER CONTRACT MONTH: 20.515 MILLION OZ STOOD FOR DELIVERY AND BY MONTH'S END: A HUGE 32.875 MILLION OZ WAS THE FINAL STANDING AS WE WERE WELL INTO THE PHENOMENON OF QUEUE JUMPING IN SILVER. THUS WE ARE WAY AHEAD OF LAST YEAR AS ALREADY WE HAVE 30.505 MILLION OZ OF SILVER INITIALLY STAND. WE WILL NO DOUBT PASS LAST YEAR'S TOTAL OF 32.875 MILLION OZ ONCE SEPTEMBER ENDS AS THE BANKS SCRAMBLE FOR PHYSICAL SILVER.
INITIAL standings for SEPTEMBER/GOLD
SEPT. 4-/2018.
today we have a tiny pulse at the comex and we had our first deposit of gold in quite some time.
we had 1 kilobar transaction/We had 0 inventory movement at the dealer accountstotal inventory deposit into the dealer accounts: NIL oztotal inventory withdrawals out of dealer accounts; nil ozwe had 0 withdrawals out of the customer account:total customer withdrawals: nil ozwe had 1 customer depositi) Into Delaware; a tiny 2175.034 oztotal customer deposits: 2175.034l ozwe had 2 adjustmentsand it may indicate a settlement for gold:i) Out of JPM; 28,066.95 oz was adjusted out of the dealer and in to the customer account of Int. JPMorganii) Out of Brinks: 60,956.706 oz was adjusted out of the dealer and this landed into the customer account of BrinksFOR THE SEPTEMBER 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 49 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 11 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxTo calculate the INITIAL total number of gold ounces standing for the SEPT. contract month, we take the total number of notices filed so far for the month (420) x 100 oz or 37100 oz, to which we add the difference between the open interest for the front month of SEPT. (144 contracts) minus the number of notices served upon today (49 x 100 oz per contract) equals 51,500 OZ OR 1.602 TONNES) the number of ounces standing in this non active month of SEPT
Thus the INITIAL standings for gold for the SEPT/2018 contract month:
No of notices served (420 x 100 oz) + {144)OI for the front month minus the number of notices served upon today (49 x 100 oz )which equals 51,500 oz standing OR 1.602 TONNES in this NON active delivery month of SEPTEMBER.
Strangely, we added 12 contracts or an additional 1200 oz will stand for physical gold at the comex and these guys refused to accept a fiat bonus to move their contracts over to London. Let us see if this continues throughout the month as the commercials may be scrambling to obtain any physical gold they can.
THERE ARE ONLY 5.255 TONNES OF REGISTERED COMEX GOLD AVAILABLE FOR DELIVERY AGAINST 1.602 TONNES STANDING FOR SEPTEMBER
total registered or dealer gold: 168,979.820 oz or 5.255 tonnestotal registered and eligible (customer) gold; 8,432,741.736 oz 262.29 tonnes
IN THE LAST 24 MONTHS 93 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE AUGUST DELIVERY MONTH
SEPTEMBER INITIAL standings/SILVER
we had 1 inventory movement at the dealer side of things
i) Into the dealer CNT: 560,579.680 oz
total dealer deposits: 560,579.680 oz
total dealer withdrawals: nil oz
we had 1 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 145.4 million oz of total silver inventory or 50.8% of all official comex silver. (145 million/286 million)
ii) Into CNT::: 39,404.53 oz
total customer deposits today: 39.404.53 oz
we had 1 withdrawals from the customer account;
i) Out of Scotia: 110,904.160 oz
total withdrawals: 110,904.160 oz
we had 0 adjustment
i
total dealer silver: 87.608 million
total dealer + customer silver: 294.696 million oz
The total number of notices filed today for the SEPTEMBER. contract month is represented by 316 contract(s) FOR 1,580,000 oz. To calculate the number of silver ounces that will stand for delivery in SEPT., we take the total number of notices filed for the month so far at 4075 x 5,000 oz = 20,375,000 oz to which we add the difference between the open interest for the front month of SEPTEMBER. (2542) and the number of notices served upon today (316 x 5000 oz) equals the number of ounces standing.
.
Thus the INITIAL standings for silver for the SEPT/2018 contract month: 4075(notices served so far)x 5000 oz + OI for front month of SEPTEMBER(2542) -number of notices served upon today (316)x 5000 oz equals 30,505,000 oz of silver standing for the SEPT contract month. This is a huge number of oz standing!!
We gained another 96 contracts or an additional 480,000 oz will stand for physical on this side of the pond.
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ESTIMATED VOLUME FOR TODAY: 136,057 CONTRACTS
CONFIRMED VOLUME FOR YESTERDAY: 65,102 CONTRACTS..criminal
YESTERDAY'S CONFIRMED VOLUME OF 65,102 CONTRACTS EQUATES TO 325 million OZ OR 46.4% 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 -3.76% (SEPT.4/2018)2. Sprott gold fund (PHYS): premium to NAV FALLS TO -1.31% to NAV (SEPT 4/2018 )Note: Sprott silver trust back into NEGATIVE territory at -3.76%-/Sprott physical gold trust is back into NEGATIVE/
(courtesy Sprott/GATA)
3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA):
NAV 12.06/TRADING 11.63/DISCOUNT 3.52.
END
And now the Gold inventory at the GLD/
SEPT 4/WITH GOLD DOWN $2.65: ANOTHER 2.65 TONNES OF GOLD LEAVE THE GLD/INVENTORY RESTS AT 755.16 TONNES/
AUGUST 31/WITH GOLD UP $2.15:ANOTHER WITHDRAWAL OF 2.06 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 757.81 TONNES
AUGUST 30/WITH GOLD DOWN $6.90: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 759.87 TONNES
AUGUST 29/WITH GOLD DOWN $2.90 (COMEX TO COMEX BUT UP 6.00 DOLLARS FROM ACCESS CLOSING) THE CROOKS RAIDED THE COOKIE JAR ONCE AGAIN TO THE TUNE OF 4.71 TONNES/INVENTORY RESTS AT 759.87 TONNES AFTER THE WITHDRAWAL.
AUGUST 28/WITH GOLD DOWN $1.60: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 764.58 TONNES
AUGUST 27/WITH GOLD UP ANOTHER $3.00: ANOTHER SURPRISE WITHDRAWAL OF 2.65 TONNES FROM THE GLD/SHAREHOLDERS OF GLD ARE DUMB OWING THIS CRAP/INVENTORY RESTS AT 764.58 TONNES
AUGUST 24/WITH GOLD UP $18.65 TODAY/A SURPRISE WITHDRAWAL OF 1.53 TONNES FROM THE GLD/INVENTORY RESTS AT 767.23 TONNES
AUGUST 23/WITH GOLD DOWN $9.20: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 768.70 TONNES
AUGUST 22/WITH GOLD UP $3.45: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTSAT 768.70 TONNES
AUGUST 21: WITH GOLD UP $5.75/A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 3.54 TONNES/INVENTORY RESTS AT 768.70 TONNES
AUGUST 20/WITH GOLD UP $10.20./ANOTHER HUGE WITHDRAWAL OF 1.17 TONNES FROM THE GLD/INVENTORY RESTS AT 772.24 TONNES
AUGUST 17/WITH GOLD UP 20 CENTS: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 773.41 TONNES
AUGUST 16/LATE LAST NIGHT, WITH GOLD DOWN $1.05: THE CROOKS RAIDED THE COOKIE JAR ONCE AGAIN: THIS TIME BY 2.06 TONNES/INVENTORY RESTS AT 774.59 TONNES, AND THEN JUST NOW ANOTHER 1.18 TONNES OF GOLD WITHDRAWN TO LEAVE THE INVENTORY LEVEL OF 773.41 TONNES/
AUGUST 15/WITH GOLD DOWN $15.15/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 776.65 TONNES
AUGUST 14/WITH GOLD DOWN $0.45, A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 9.43 TONNES//INVENTORY RESTS AT 776.65 TONNES
AUGUST 13/with gold down $18.00: no changes in gold inventory at the crooked GLD/inventory rests at 786.08 tonnes
AUGUST 10/WITH GOLD DOWN 55 CENTS: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 786.08 TONNES
AUGUST 9/WITH GOLD DOWN BY 70 CENTS, OUR BANKERS AGAIN RAIDED THE GOLD COOKIE JAR TO THE TUNE OF 1.45 TONNES AND THUS THE INVENTORY RESTS AT 786.08 TONNES.ANYBODY HOLDING GOLD AT THE COMEX MUST REMOVE THEIR GOLD IMMEDIATELY AND PLACE IT IN A PRIVATE NON BANK OR CALL ANDREW MAGUIRE AT KINESIS
AUGUST 8/WITH GOLD UP ANOTHER $2.75, OUR BANKERS MUST BE DESPERATE AS THEY RAIDED THE GOLD COOKIE JAR AGAIN TO THE TUNE OF 1.18 TONNES/INVENTORY RESTS TONIGHT AT 788.71 TONNES. ANYBODY WHO KEEPS HIS GOLD AT THE COMEX IS VERY FOOLISH..ALL GOLD AT THE COMEX IS UNALLOCATED.
AUGUST 7/WITH GOLD UP 0.75 TODAY/ANOTHER GIGANTIC WITHDRAWAL OF 6.04 TONNES AND THIS GOLD WAS TO BE USED IN AN ATTEMPTED RAID TODAY AND FAILED/INVENTORY RESTS AT 788.71 TONNES
AUGUST 6/WITH GOLD DOWN $5.30 TODAY: ANOTHER WITHDRAWAL OF 2.06 TONNES AND THIS GOLD WAS USED IN THE RAID TODAY/GLD INVENTORY RESTS TODAY AT 794.90 TONNES
AUGUST 3/WITH GOLD UP $3.10/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 796.96 TONNES
AUGUST 2/WITH GOLD DOWN $7.20/A HUGE WITHDRAWAL OF 3.24 TONNES FROM THE GLD WHICH NO DOUBT WAS USED IN THE RAID TODAY/INVENTORY RESTS AT 796.96 TONNES
AUGUST 1/WITH GOLD DOWN $4.65/NO CHANGE IN GOLD INVENTORY AT THE GLD.INVENTORY RESTS AT 800.20 TONNES
JULY 31/WITH GOLD UP $2.05/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 800.20
JULY 30/WITH GOLD DOWN $0.95/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 800.20 TONNES
july 27/WITH GOLD DOWN $2.85 TODAY, NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 800.20 TONNES
JULY 26./WITH GOLD DOWN $5.65: A WITHDRAWAL OF 2.35 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 800.20 TONNES
JULY 25/WITH GOLD UP $6.45; NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 802.55 TONNES
JULY 24/ WITH GOLD DOWN 10 CENTS: A HUGE DEPOSIT OF 4.42 TONNES INTO THE GLD/INVENTORY RESTS AT 802.55 TONNES
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SEPT 4/2018/ Inventory rests tonight at 755.16 tonnes
*IN LAST 448 TRADING DAYS: 175.85 NET TONNES HAVE BEEN REMOVED FROM THE GLD*LAST 348 TRADING DAYS: A NET 19.31 TONNES HAVE NOW BEEN REMOVED FROM GLD INVENTORY.
end
Now the SLV Inventory/
SEPT 4/WITH SILVER DOWN 37 CENTS TODAY/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.856 MILLION OZ/
AUGUST 31/WITH SILVER DOWN ONE CENT TODAY/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.856 MILLION OZ/
AUGUST 30/WITH SILVER DOWN 20 CENTS TODAY, A BIG CHANGE IN SILVER INVENTORY: A DEPOSIT OF 742,000 AT THE SLV.INVENTORY RESTS AT 329.856 MILLION OZ/
AUGUST 29/WITH SILVER DOWN 10 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.104 MILLION OZ/
AUGUST 28/WITH SILVER DOWN 5 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.104 MILLION OZ/
AUGUST 27/WITH SILVERUP 6 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.104 MILLION OZ/
AUGUST 24./WITH SILVER UP 26 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.104 MILLION OZ/
AUGUST 23/WITH SILVER DOWN 20 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.104 MILLION OZ/
AUGUST 22/WITH SILVER DOWN 1 CENT/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.104 MILLION OZ/
AUGUST 21/WITH SILVER UP 2 CENTS: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.104 MILLION OZ/
AUGUST 20/WITH SILVER UP 6 CENTS: NO CHANGE IN SILVER INVENTORY AT THE SLV/.INVENTORY RESTS AT 329.104 MILLION OZ.
AUGUST 17/WITH SILVER DOWN 4 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.104 MILLION OZ
AUGUST 16/WITH SILVER UP 14 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV" A DEPOSIT OF 1.881 MILLION OZ//INVENTORY RESTS AT 329.104 MILLION OZ/
AUGUST 15/WITH SILVER DOWN 56 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 327.223 MILLION OZ/
AUGUST 14/WITH SILVER UP 6 CENTS TODAY/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 327.223 MILLION OZ
AUGUST 13./with silver down 31 cents today: no changes in silver inventory/inventory rests at 327.223 million oz/
AUGUST 10/WITH SILVER DOWN 15 CENTS: A BIG CHANGE IN SILVER INVENTOR: A WITHDRAWAL OF 1.222 MILLION OZ FROM THE SLV INVENTORY /INVENTORY RESTS AT 327.223 MILLION OZ/
AUGUST 9/WITH SILVER UP 3 CENTS TODAY:NO CHANGE IN SILVER INVENTORY /INVENTORY RESTS AT 328.445 MILLION OZ/
AUGUST 8/WITH SILVER UP 5 CENTS TODAY: NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 328.445 MILLION OZ
AUGUST 7/WITH SILVER UP 3 CENTS, A RAID OF 1.78 MILLION OZ (A WITHDRAWAL) AT THE SLV.INVENTORY RESTS AT 328.445 MILLION OZ/
AUGUST 6/WITH SILVER DOWN 11 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.034 MILLION OZ INTO THE SLV INVENTORY/INVENTORY RESTS AT 330.326 MILLION OZ/
AUGUST 3/WITH SILVER UP 7 CENTS TODAY/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.292 MILLION OZ/.
AUGUST 2 WITH SILVER DOWN 6 CENTS TODAY/A SMALL CHANGE IN SILVER INVENTORY AT THE SLV/ A WITHDRAWAL OF 141,000 OZ FOR THEIR MONTHLY STORAGE AND INSURANCE FEES:INVENTORY RESTS AT 329.292 MILLION OZ/
AUGUST 1/WITH SILVER DOWN 12 CENTS TODAY, NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.433 MILLION OZ/
JULY 31/WITH SILVER UP 5 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.433 MILLION OZ/
JULY 30/WITH SILVER UP 3 CENTS TODAY; NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.433 MILLION OZ.
JULY 27/WITH SILVER FLAT TODAY, NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 329.433 MILLION OZ/
JULY 26/WITH SILVER DOWN 10 CENTS: STRANGE: A BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.046 MILLION OZ OF SILVER/INVENTORY RESTS AT 329.433 MILLION OZ
JULY 25: WITH SILVER UP 8 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV/ A WITHDRAWAL OF 658,000 INVENTORY RESTS AT 328.304 MILLION OZ/
JULY 24/WITH SILVER UP 8 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 328.962 MILLION OZ/
SEPT 4/2018:
Inventory 329.856 MILLION OZ
6 Month MM GOFO 1.97/ and libor 6 month duration 2.54
Indicative gold forward offer rate for a 6 month duration/calculation:
G0FO+ 1.97
libor 2.54 FOR 6 MONTHS/
GOLD LENDING RATE: .57%
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12 Month MM GOFO+ 2.38%
LIBOR FOR 12 MONTH DURATION: 2.84
GOFO = LIBOR - GOLD LENDING RATE
GOLD LENDING RATE = +.46
end