Harvey Organ: High EFP Issuance, A Low Price & Huge Demand Says China Is Buying Up All Available Silver
Harvey explains his theory that China is buying up all available physical silver, wherever it is found. Here are the details...
by Harvey Organ of Harvey Organ Blog
AUGUST 1/CHINESE OFFSHORE YUAN FALTERS AND IN PERFECT HARMONY GOLD ALSO FALLS: DOWN $4.65 TO $1219.00/SILVER ALSO FALTERS BADLY TO $15.44 DESPITE MASSIVE QUEUE JUMPING AND HUGE DEMAND FOR PHYSICAL SILVER AT THE COMEX/.BOF J LOSING CONTROL OVER THE YIELD CURVE AS THE 10 YR RISES TO .13%/THE TRADE AND CURRENCY WAR WITH CHINA ESCALATES/IRAN SEES THEIR RIYAL PLUMMET TO 122,000 PER ONE USA DOLLAR AS THIS COUNTRY IS IN TURMOIL FINANCIALLY/ALSO TURKEY SEES ITS LIRA FALL TO 5.00 TO ONE USA DOLLAR: BOTH COUNTRIES ARE HAVING DIFFICULTY FINDING USA DOLLARS/BOTH MARKIT AND ISM REPORT LOSING USA MFG PMI NUMBERS/TRUMP ORDERS WITCH HUNT OVER!!
GOLD: $1219.00 DOWN $4.65 (COMEX TO COMEX CLOSINGS)
Silver: $15.44 DOWN 12 CENTS (COMEX TO COMEX CLOSINGS)
Closing access prices:
Gold $1216.30
silver: $15.38
For comex gold:
JULY/
NUMBER OF NOTICES FILED TODAY FOR AUGUST CONTRACT:34 NOTICE(S) FOR 3400 oz
TOTAL NOTICES SO FAR 71 FOR 7100 OZ (0.2208 tonnes)
For silver:
JULY
281 NOTICE(S) FILED TODAY FOR
1,405,000 OZ/
Total number of notices filed so far this month: 255 for 2,680,000 oz
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Bitcoin: BID $7498/OFFER $7583: DOWN $153(morning)
Bitcoin: BID/ $7583/offer $7668: DOWN $71 (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: $1226.38
NY price at the same time:1223.50
PREMIUM TO NY SPOT: $2,88
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Second gold fix early this morning: $1226.38
USA gold at the exact same time:$1221.00
PREMIUM TO NY SPOT: $5.38
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 HUMONGOUS SIZED 5604 CONTRACTS FROM 220,908 UP TO 226,512 DESPITE YESTERDAY'S TINY 5 CENT GAIN IN SILVER PRICING AT THE COMEX. WE HAVE NOW WITNESSED A SLOW COMEX ACCUMULATION THESE PAST SEVERAL DAYS. ON TOP OF THIS WE HAVE ALSO WITNESSED A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY(WELL OVER 30 MILLION OZ AT THE COMEX FOR JULY AND OVER 4 MILLION OZ FOR AUGUST) 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 LONDONTHROUGH THE EFP: 1034 EFP'S FOR SEPT. , 0 EFP'S FOR DECEMBER AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE: OF 1034 CONTRACTS. WITH THE TRANSFER OF 1034 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 1034 EFP CONTRACTS TRANSLATES INTO 5.170 MILLION OZ AND ACCOMPANYING:
1.THE 5 CENT GAIN 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 FINALLY STANDING FOR DELIVERY IN JULY, AND NOW 4.085 MILLION OZ FOR AUGUST.
ACCUMULATION FOR EFP'S/SILVER/J.P.MORGAN'S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF JULY:
1034 CONTRACTS (FOR 1 TRADING DAYS TOTAL 1034 CONTRACTS) OR 5.170 MILLION OZ: (AVERAGE PER DAY: 1034 CONTRACTS OR 5.170 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF JULY: 5.170 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 0.73% 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: 1,837.74 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
RESULT: WE HAD A HUMONGOUS SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 6507 DESPITE THE TINY 5 CENT GAIN IN SILVER PRICING AT THE COMEX YESTERDAY. THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 1034 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: 1034 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: 1034). TODAY WE GAINED AN ATMOSPHERIC SIZED: 6638 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:
i.e 1034 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP's) TOGETHER WITH AN INCREASE OF 5604 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 5 CENT GAIN IN PRICE OF SILVER AND A CLOSING PRICE OF $15.56 WITH RESPECT TO YESTERDAY'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 AND NOW IN AUGUST ANOTHER BIG 4.085 MILLION OZ IN A NON ACTIVE MONTH. 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. 1.137 MILLION OZ TO BE EXACT or 157% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT JULY MONTH/ THEY FILED AT THE COMEX: 255 NOTICE(S) FOR 1,275,000 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 JULY 2018 AMOUNT FINALLY STANDING: 30.370 MILLION OZ ) AND NOW FOR AUGUST 4.085 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 FINALLY ROSE BY A CONSIDERABLE SIZED 2784 CONTRACTS UP TO 452,655 WITH THE SMALL RISE IN THE COMEX GOLD PRICE/YESTERDAY'S TRADING (A GAIN IN PRICE OF $2.05). THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A GOOD SIZED 8,486 CONTRACTS:
DECEMBER HAD AN ISSUANCE OF 4238 CONTACTS AND THEN ALL OTHER MONTHS ZERO. The new COMEX OI for the gold complex rests at 452,655. 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 OI GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 11,270 CONTRACTS: 2784 OI CONTRACTS INCREASED AT THE COMEX AND 8486 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN: 11,270 CONTRACTS OR 1,350,600 OZ = 35.05 TONNES. AND ALL OF THIS STRONG DEMAND OCCURRED WITH THE SMALL RISE IN THE PRICE OF GOLD/ YESTERDAY TO THE TUNE OF $2.05.
YESTERDAY, WE HAD 4238 EFP'S ISSUED.
ACCUMULATION OF EFP'S GOLD AT J.P. MORGAN'S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JUNE : 8486 CONTRACTS OR 848,600 OZ OR 28.39 TONNES (1 TRADING DAYS AND THUS AVERAGING: 8486 EFP CONTRACTS PER TRADING DAY OR 848,600 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: 28.39 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES
THUS EFP TRANSFERS REPRESENTS 28.39/2550 x 100% TONNES = 1.11% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JULY ALONE.***
ACCUMULATION OF GOLD EFP'S YEAR 2018 TO DATE: 4,736.80* 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)
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 2784 WITH THE SMALL GAIN IN PRICING ($2.05 THAT GOLD UNDERTOOK ON YESTERDAY) // . WE ALSO HAD A STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 8486 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 8,486 EFP CONTRACTS ISSUED, WE HAD A VERY STRONG NET GAIN OF 11,270 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:
8486 CONTRACTS MOVE TO LONDON AND 2784 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 35.05 TONNES). ..AND THIS STRONG DEMAND OCCURRED WITH A TINY GAIN OF $2.05 IN YESTERDAY'S TRADING AT THE COMEX!!!.
we had: 37 notice(s) filed upon for 3700 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 $4.65 TODAY: /
NO CHANGES IN GOLD INVENTORY AT THE GLD
/GLD INVENTORY 800.20 TONNES
Inventory rests tonight: 800.20 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 12 CENTS TODAY :
NO CHANGE IN SILVER INVENTORY TONIGHT
/INVENTORY RESTS AT 329.433 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 2785 CONTRACTS UP to an OI level 452,655 DESPITE THE SMALL RISE IN THE PRICE OF GOLD ($2.05 GAIN/ YESTERDAY'S COMEXTRADING). 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. ONCE WE START A NEW MONTH, WE WILL NOW SEE THE OPEN INTEREST RISE AS THE CROOKS PLAY THEIR RIGGED GAME.
WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF AUGUST. THE CME REPORTS THAT THE BANKERS ISSUED A STRONG SIZED COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 8486 EFP CONTRACTS WERE ISSUED:
DECEMBER ISSUANCE OF 8486, AND ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 8486 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 11,270 TOTAL CONTRACTS IN THAT 8486 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED 2784 COMEX CONTRACTS.
NET GAIN ON THE TWO EXCHANGES: 11,270 contracts OR 1,127,000 OZ OR 35.05 TONNES.
Result: A STRONG SIZED INCREASE IN COMEX OPEN INTEREST DESPITE THE SMALL RISE IN PRICE/YESTERDAY (ENDING UP WITH A DROP IN PRICE OF $2.05). THE TOTAL OPEN INTEREST GAIN ON THE TWO EXCHANGES: 11,270 OI CONTRACTS..
We have now entered the active contract month of AUGUST where we witnessed the highest obliteration of contracts on record for the first day notice i.e. 33,938 contracts for an open interest standing of only 4,765 contracts. It continues with reckless abandon as the longs know that there is no gold present at the comex. We lost another 909 contracts down to 3850 contracts. The number of notices filed for yesterday was 34 contracts so we lost 875 contacts or an additional 87500 oz will not stand at the comex (because there is no gold) and these investors morphed into London based forwards and received a fiat bonus for their efforts.
AFTER AUGUST, SEPTEMBER LOST 46 CONTRACTS AND THUS RISES TO 2613 CONTRACTS. THE NEXT ACTIVE DELIVERY MONTH IS OCTOBER AND HERE THE OI FELL BY 213 CONTRACTS UP TO 54,247 CONTRACTS. DECEMBER SAW ITS OPEN INTEREST RISE BY 4,810 CONTRACTS UP TO 337,501.
WE HAD 34 NOTICES FILED AT THE COMEX FOR 3400 OZ.
INITIALLY FOR THE AUGUST 2017 CONTRACT WE HAD A STRONG 831,100 OZ STAND (25.85 TONNES)
BY MONTH END ONLY 524,500 OZ EVENTUALLY STOOD (16.33 TONNES) AS MANY MORPHED INTO LONDON BASED FORWARDS.
Trading Volumes on the COMEX
PRELIMINARY COMEX VOLUME FOR TODAY: 194,606 contracts
CONFIRMED COMEX VOL. FOR YESTERDAY: 314,005 contracts
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And now for the wild silver comex results.
Total silver OI ROSE BY A HUMONGOUS SIZED 5604 CONTRACTS FROM 220,908 UP TO 226,512 (AND A LOT CLOSER TO THE THE NEW RECORD OI FOR SILVER SET APRIL 9.2018/ 243,411 CONTRACTS)DESPITE THE TINY 5 CENT GAIN IN PRICING THAT SILVER UNDERTOOK YESTERDAY. SINCE WE ARE NOW INTO THE ACTIVE DELIVERY MONTH OF JULY, WE WERE INFORMED THAT WE HAD A STRONG SIZED 1034 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: 1034. ON A NET BASIS WE GAINED 6638 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED 5604 CONTRACT GAIN AT THE COMEX COMBINING WITH THE ADDITION OF 1034 OI CONTRACTS NAVIGATING OVER TO LONDON.
NET GAIN ON THE TWO EXCHANGES: 6638 CONTRACTS
FOR THE FRONT MONTH OF AUGUST WE HAD A NET LOSS OF 100 CONTRACTS. WE HAD 255 NOTICES FILED YESTERDAY SO WE CONTINUE WHERE WE LEFT OFF LAST MONTH IN THAT WE GAINED 155CONTRACTS STANDING OR AN ADDITIONAL 775,000 OZ WILL STAND AT THE COMEX AS THESE GUYS REFUSED TO MORPH INTO LONDON BASED FORWARDS AND RECEIVE A FIAT BONUS. QUEUE JUMPING AT THE SILVER COMEX IS THE NORM AS THERE IS CONSIDERABLE AMOUNT OF PHYSICAL LOCATED HERE. THERE IS NO QUEUE JUMPING AT THE GOLD COMEX FOR THE SIMPLE REASON THAT THERE IS NO GOLD THERE.
The next active delivery month after August for silver is September and here the OI ROSE by 2696 contracts UP to 158,609. October received its first two contracts to stand at 2
After October, the next big delivery month is December and here the OI rose by 3592 contracts up to 56,990 contracts.
We had 281 notice(s) filed for 1,405,000 OZ for the AUGUST 2018 COMEX contract for silver
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.
INITIAL standings for AUGUST/GOLD
AUGUST 1/2018.
we have a NO pulse today, AND zero gold enters the comex
THIS IS RATHER SURPRISING: FOR THE SECOND STRAIGHT BIG DELIVERY MONTHS I.E. JUNE AND AUGUST, NO GOLD ENTERS THE COMEX TO SETTLE UPON LONGS STANDING FOR DELIVERY AND NO ACTIVITY WHATSOEVER WITH RESPECT TO INVENTORY CHANGES.we had 0 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 0 customer deposittotal customer deposits: nil ozwe had 0 adjustmentsFor AUGUST:
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 34 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 21 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxTo calculate the INITIAL total number of gold ounces standing for the AUGUST. contract month, we take the total number of notices filed so far for the month (71) x 100 oz or 7100 oz, to which we add the difference between the open interest for the front month of AUGUST. (3850 contracts) minus the number of notices served upon today (34 x 100 oz per contract) equals 388,700 OZ OR 12.09 TONNES) the number of ounces standing in this non active month of AUGUST
Thus the INITIAL standings for gold for the AUGUST contract month:
No of notices served (71 x 100 oz) + {(3850)OI for the front month minus the number of notices served upon today (34 x 100 oz )which equals 388,700 oz standing OR 12.09 TONNES in this active delivery month of AUGUST.
WE LOST 875 COMEX CONTRACTS OR AN ADDITIONAL 87500 OZ WILL NOT STAND AND THESE GUYS MORPHED INTO LONDON BASED FORWARDS. THERE WAS NO REASON TO HANG AROUND THE COMEX AS THERE IS NO GOLD THERE TO SETTLE UPON.
THERE ARE ONLY 7.8648 TONNES OF REGISTERED COMEX GOLD AVAILABLE FOR DELIVERY AGAINST 12.09 TONNES STANDING FOR JULY
total registered or dealer gold: 252,854.765 oz or 7.8648 tonnestotal registered and eligible (customer) gold; 8,661,381.883 oz 269,39 tonnes
IN THE LAST 24 MONTHS 85 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE AUGUST DELIVERY MONTH
AUGUST 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 144 million oz of total silver inventory or 51.0% of all official comex silver. (144 million/283 million)
iii) into everybody else; 0 oz
total customer deposits today: nil oz
we had 3 withdrawals from the customer account;
i) out of Scotia; 250,488.110 oz
ii) out of Delaware: 7898.900 oz
iii) out of HSBC: 852,691.65 oz
total withdrawals: 1,111,078.820 oz
we had 2 adjustment/
i) Out of CNT:
624,200.820 oz was adjusted out of the customer and this landed into the dealer account of CNT
ii) Out of CNTs:
10,4600.231 oz was adjusted out of the customer and this landed into the dealer account of CNT
total dealer silver: 80 million
total dealer + customer silver: 283.668 million oz
The total number of notices filed today for the AUGUST. contract month is represented by 281 contract(s) FOR 1,405,000 oz. To calculate the number of silver ounces that will stand for delivery in AUGUST., we take the total number of notices filed for the month so far at 536 x 5,000 oz = 2,680,000 oz to which we add the difference between the open interest for the front month of AUGUST. (552) and the number of notices served upon today (281 x 5000 oz) equals the number of ounces standing.
.
Thus the INITIAL standings for silver for the AUGUST/2018 contract month: 536(notices served so far)x 5000 oz + OI for front month of AUGUST(552) -number of notices served upon today (281)x 5000 oz equals 4,085,000 oz of silver standing for the AUGUST contract month
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ESTIMATED VOLUME FOR TODAY:59,146 CONTRACTS
CONFIRMED VOLUME FOR YESTERDAY: 85,301 CONTRACTS absolutely criminal
YESTERDAY'S CONFIRMED VOLUME OF 85,301 CONTRACTS EQUATES TO 426 million OZ OR 60.9% 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 -2.80% (AUGUST 1/2018)2. Sprott gold fund (PHYS): premium to NAV FALLS TO -1.00% to NAV (AUGUST 1/2018 )Note: Sprott silver trust back into NEGATIVE territory at -2.80%-/Sprott physical gold trust is back into NEGATIVE/
(courtesy Sprott/GATA)
3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA):
NAV 12.59/TRADING 12.15//DISCOUNT 3.50.
END
And now the Gold inventory at the GLD/
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
JULY 23/WITH GOLD DOWN $5.55: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 798.13 TONNES
JULY 20/WITH GOLD UP $4.15 A HUGE DEPOSIT OF 4.12 TONNES OF GOLD INTO THE GLD.INVENTORY RESTS AT 798.13 TONNES
JULY 19./WITH GOLD DOWN $1.00: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 794.01 TONNES
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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AUGUST1/2018/ Inventory rests tonight at 800.20 tonnes
*IN LAST 421 TRADING DAYS: 130.73 NET TONNES HAVE BEEN REMOVED FROM THE GLD*LAST 371 TRADING DAYS: A NET 25,81 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
end
Now the SLV Inventory/
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/
JULY 23/WITH SILVER DOWN 11 CENTS/NO CHANGES IN SILVER INVENTORY INTO THE SLV/INVENTORY RESTS AT 328.962 MILLION OZ/
JULY 20/WITH SILVER UP 10 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.411 MILLION OZ INTO THE SLV INVENTORY
INVENTORY RESTS AT 328.962 MILLION OZ
JULY 19/WITH SILVER DOWN 17 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 752,000 OZ INTO THE SLV INVENTORY/INVENTORY RESTS AT 327.551 MILLION OZ/
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/
AUGUST 1/2018:
Inventory 329.433 MILLION OZ
6 Month MM GOFO 1.93/ and libor 6 month duration 2.53
Indicative gold forward offer rate for a 6 month duration/calculation:
G0FO+ 1.93%
libor 2.53 FOR 6 MONTHS/
GOLD LENDING RATE: .60%
XXXXXXXX
12 Month MM GOFO+ 2.83%
LIBOR FOR 12 MONTH DURATION: 2.42
GOFO = LIBOR - GOLD LENDING RATE
GOLD LENDING RATE = +.41
end