Harvey Organ: Silver Is Holding Its Own Right Now
Harvey says silver is holding its own right now with strong demand both on the COMEX and in London. Here's an update...
by Harvey Organ of Harvey Organ Blog
DEC 13/GOLD DOWN $2.00 TO $1243.00 BUT SILVER HOLDS IT'S OWN UP 2 CENTS TO $14.77/GOLDMAN SACHS DEALER AND A CUSTOMER ACCOUNT OF JPMORGAN CONTINUE TO TAKE IN GOLD AT THE GOLD COMEX/THERESA MAY SURVIVES AN INTRA PARTY CONFIDENCE VOTE BUT CHAOS REIGNS SUPREME OVER THERE//NO CONFIDENCE VOTE EXPECTED IN FRANCE/TERRORIST IS STILL AT LARGE IN FRANCE/ECB FORMALLY ENDS QE BUT WILL STILL PURCHASE NEW BONDS WITH BONDS THAT COME DUE//USA SENATE WILL NO LONGER BACK TRUMP WITH THE SAUDI WAR IN YEMEN/USA DEFICIT FOR THE NOV. SKYROCKETS TO 205 BILLION DOLLARS/AND FOR TWO MONTHS; 305 BILLION DOLLARS/
GOLD: $1243.00 DOWN $2.00 (COMEX TO COMEX CLOSINGS)
Silver: $14.77 UP 2 CENTS (COMEX TO COMEX CLOSING)
Closing access prices:
Gold : 1242.90
silver: $14.76
For comex gold and silver:
DEC
Again, we have Goldman Sachs dealer and JPMorgan customer account stopping (receiving the gold) 49/71 contracts.
EXCHANGE: COMEXCONTRACT: DECEMBER 2018 COMEX 100 GOLD FUTURESSETTLEMENT: 1,244.400000000 USDINTENT DATE: 12/12/2018 DELIVERY DATE: 12/14/2018FIRM ORG FIRM NAME ISSUED STOPPED____________________________________________________________________________________________072 H GOLDMAN 36323 C HSBC 4657 C MORGAN STANLEY 1661 C JP MORGAN 13690 C ABN AMRO 24737 C ADVANTAGE 45 12800 C RCG 2 2905 C ADM 3____________________________________________________________________________________________
TOTAL: 71 71MONTH TO DATE: 7,208
NUMBER OF NOTICES FILED TODAY FOR DEC CONTRACT: 71 NOTICE(S) FOR 7100 OZ (0.2208 tonnes)
SILVER
FOR DECEMBER
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279 NOTICE(S) FILED TODAY FOR 1395,000 OZ/
Total number of notices filed so far this month: 3873 for 19,365,000 oz
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Bitcoin: OPENING MORNING TRADE $3404: DOWN 22
Bitcoin: FINAL EVENING TRADE: $3304 down 143
end
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Let us have a look at the data for today
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In silver, the total OPEN INTEREST ROSE BY A GOOD SIZED 1005 CONTRACTS FROM 174,071 UP TO 175,076 WITH YESTERDAY'S 22 CENT GAIN IN SILVER PRICING AT THE COMEX. TODAY WE ARRIVED FURTHER FROM AUGUST'S RECORD SETTING OPEN INTEREST OF 244,196 CONTRACTS.
WE HAVE ALSO WITNESSED A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY AS WE NOW HAVE JUST LESS THAN 20 MILLION OZ STANDING IN DECEMBER. 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 LONDONTHROUGH THE EFP:
2446 EFP'S FOR DECEMBER AND 0 FOR MARCH AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE: OF 2446 CONTRACTS. WITH THE TRANSFER OF 2446 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 2446 EFP CONTRACTS TRANSLATES INTO 12.23 MILLION OZ ACCOMPANYING:
1.THE 22 CENT GAIN IN SILVER PRICE AT THE COMEX AND
2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR DELIVERY IN THE LAST SIX 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 FOR NOVEMBER AND
NOW 20.730 INITIALLY STAND FOR DECEMBER.
ACCUMULATION FOR EFP'S/SILVER/J.P.MORGAN'S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF DEC: 16,394 CONTRACTS (FOR 9 TRADING DAYS TOTAL 16.394 CONTRACTS) OR 81.97 MILLION OZ: (AVERAGE PER DAY: 1821 CONTRACTS OR 9.107 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF DEC: 81,97 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 11.71% 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: 2,759.03 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.
ACCUMULATION FOR SEPTEMBER 2018: 167,05 MILLION OZ
ACCUMULATION FOR OCTOBER 2018: 224.875 MILLION OZ
ACCUMULATION FOR NOVEMBER /2018: 247.18 MILLION OZ
RESULT: WE HAD A GOOD SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1005 DWITH THE 22 CENT GAIN IN SILVER PRICING AT THE COMEX //YESTERDAY.. AS THE BOYS CONTINUE WITH THEIR CUSTOMARY MIGRATION OVER TO ETFS AT THE START OF AN ACTIVE DELIVERY MONTH. THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 2446 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 GOOD SIZED: 3451 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:
i.e 2246 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP's) TOGETHER WITH INCREASE OF 1005 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 22 CENT RISE INPRICE OF SILVER AND A CLOSING PRICE OF $14.75 WITH RESPECT TO YESTERDAY'S TRADING. YET WE HAD A GIGANTIC AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY
In ounces AT THE COMEX, the OI is still represented by JUST UNDER 1 BILLION oz i.e. .875 BILLION OZ TO BE EXACT or 125% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT DEC MONTH/ THEY FILED AT THE COMEX: 279 NOTICE(S) FOR 1,395,000 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. , SEPT: A HUGE 39.505 MILLION OZ./ OCTOBER: 2,520,000 oz NOV AT 7.440 MILLION OZ./AND NOW DEC. AT 20.730 MILLION OZHUGE 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 ROSE BY A CONSIDERABLE SIZED 2485 CONTRACTS UP TO 404,735 WITH THE RISE IN THE COMEX GOLD PRICE/(A GAIN IN PRICE OF $3.05//.YESTERDAY'S TRADING)
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 11080 CONTRACTS:
DECEMBER HAD AN ISSUANCE OF 11080 CONTACTS AND ALL OTHER MONTHS ZERO. The NEW COMEX OI for the gold complex rests at 404,735. 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 VERY STRONG SIZED GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 13,565 CONTRACTS: 2485 OI CONTRACTS INCREASED AT THE COMEX AND 11080 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN: 13.565 CONTRACTS OR 1,356,500 OZ = 42,19 TONNES. AND ALL OF THIS DEMAND OCCURRED WITH A GAIN IN THE PRICE OF GOLD/ YESTERDAY TO THE TUNE OF $3.05
YESTERDAY, WE HAD 9745 EFP'S ISSUED.
ACCUMULATION OF EFP'S GOLD AT J.P. MORGAN'S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DEC : 76079 CONTRACTS OR 7,607,900 OZ OR 236.63 TONNES (9 TRADING DAYS AND THUS AVERAGING: 8453 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 9 TRADING DAYS IN TONNES: 236.63 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES
THUS EFP TRANSFERS REPRESENTS 236.63/2550 x 100% TONNES = 9.27% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JULY ALONE.***
ACCUMULATION OF GOLD EFP'S YEAR 2018 TO DATE: 7001.01 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)
ACCUMULATION OF GOLD EFP FOR SEPT 2018 470.64 TONNES (19 TRADING DAYS)
ACCUMULATION OF GOLD EFP FOR OCT. 2018 543.92 TONNES (23 TRADING DAYS)
ACCUMULATION OF GOLD EFP FOR NOV 2018: 552.88 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 2485 WITH THE GAIN IN PRICING ($3.05) THAT GOLD UNDERTOOK YESTERDAY) //.WE ALSO HAD A HUMONGOUS SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 11080 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 11080 EFP CONTRACTS ISSUED, WE HAD AN HUMONGOUS GAIN OF 14,788 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:
11080 CONTRACTS MOVE TO LONDON AND 2485 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 42,19 TONNES). ..AND ALL OF THIS DEMAND OCCURRED WITH THE RISE OF $3.05 IN YESTERDAY'S TRADING AT THE COMEX
we had: 71 notice(s) filed upon for 7100 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 $2.00 TODAY
NO CHANGE IN GOLD INVENTORY AT THE GLD
/GLD INVENTORY 763.56 TONNES
Inventory rests tonight: 763.56 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 2 CENTs TODAY:
NO CHANGE IN SILVER INVENTORY AT THE SLV
/INVENTORY RESTS AT 318.735 MILLION OZ.
Let us head over to the comex:
The total gold comex open interest ROSE BY A CONSIDERABLE SIZED 2485 CONTRACTS UP to an OI level 404,735 WITH THE GAIN IN THE PRICE OF GOLD ($3.05 IN YESTERDAY'S COMEX TRADING).FOR TWO YEARS STRAIGHT WE HAVE NOTICED THAT ONE WEEK PRIOR TO FIRST DAY NOTICE OF AN ACTIVE DELIVERY MONTH THE COMEX OPEN INTEREST CONTRACTS AND EFP'S NOTICES EXPONENTIALLY INCREASE AS WELL AS WE WITNESS THE COMEX OPEN INTEREST COLLAPSE. ONCE WE GET TO FIRST DAY NOTICE, THEN THE OPEN INTEREST RISES AND AGAIN THEY DID NOT DISAPPOINT US.
WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF DEC.. THE CME REPORTS THAT THE BANKERS ISSUED GIGANTIC SIZED COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 11080 EFP CONTRACTS WERE ISSUED:
FOR DECEMBER: 11080 AND ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 11080 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: 13,565 TOTAL CONTRACTS IN THAT 11080 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A CONSIDERABLE SIZED 2485 COMEX CONTRACTS.
NET GAIN ON THE TWO EXCHANGES: 13,565 contracts OR 1,356,500 OZ OR 42.19 TONNES.
We are now in the active contract month of December and we now have a total of 600 contracts stand in December so we had a loss of 333 contracts. We had 395 notices served yesterday, so we gained 62 contracts or 6200 oz will stand as these guys refused to morph into London based forwards and as well negating to accept a fiat bonus. QUEUE JUMPING RETURNS TO THE GOLD COMEX
The next delivery month after December is January which saw it FALL TO 2883 FOR A LOSS OF 154 CONTRACTS. February GAINED A CONSIDERABLE 574 contracts to stand at 301,369 contracts
FOR COMPARISON TO THE 2017 CONTRACT MONTH:
ON FIRST DAY NOTICE DEC 1/2017: 37.035 TONNES STOOD FOR DELIVERY
EVENTUALLY BY DEC 31.2017: 28.592 TONNES STOOD AND THE REST MORPHED INTO LONDON BASED FORWARDS.
AS A REMINDER WE HAVE ONLY 4.000 TONNES OF REGISTERED GOLD READY TO SERVE UPON OUR DEC LONGS.
WE HAD 71 NOTICES FILED AT THE COMEX FOR 7100 OZ. (0.2208 tonnes)
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And now for the wild silver comex results.
Total silver OI ROSE BY 1005 CONTRACTS FROM 174,071 DOWN TO 175,076 (AND 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 GAIN OCCURRED WITH A 22 CENT RISE IN PRICING.
WE ARE NOW INTO THE ACTIVE DELIVERY MONTH OF DECEMBER AND, WE WERE INFORMED THAT WE HAD A STRONG SIZED 2446 EFP CONTRACTS:
FOR DECEMBER: 2446 CONTRACTS, FOR MARCH 0 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: 2446. ON A NET BASIS WE GAINED 3451 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED A 1005 CONTRACT GAIN AT THE COMEX COMBINING WITH THE ADDITION OF 2446 OI CONTRACTS NAVIGATING OVER TO LONDON.
NET GAIN ON THE TWO EXCHANGES: 3451 CONTRACTS...AND ALL OF THIS STRONG DEMAND OCCURRED WITH A 22 CENT GAIN IN PRICING// YESTERDAY
We are now in the non active delivery month of DECEMBER and here in this front month of December we now have 552 contracts standing for a LOSS of 78 contracts. We had 173 contracts stand for delivery yesterday so we gained 95 contract or an additional 475,000 oz will not stand for delivery as these guys morphed into London based forwards as well as accepting a fiat bonus.
After December we have the non active January contract month and here we saw a gain of 9 contracts up to 1909 contracts. February saw its another 16 contract gain to stand at 98. March, the next big delivery month after December saw a gain of 1341 contracts down to 144,759
FOR COMPARISON TO THE COMEX 2017 CONTRACT MONTH:
ON FIRST DAY NOTICE DEC 1.2017 WE HAD A RATHER LARGE: 19.47 MILLION OZ STAND FOR DELIVERY
BY THE END OF DECEMBER: 33.295 MILLION OZ AS QUEUE JUMPING WAS THE NAME OF THE GAME IN SILVER.
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We had 279 notice(s) filed for 1,395,000 OZ for the DEC, 2018 COMEX contract for silver
Trading Volumes on the COMEX
PRELIMINARY COMEX VOLUME FOR TODAY: 145,344 contracts,
CONFIRMED COMEX VOL. FOR YESTERDAY: 168,279 contracts
volumes at the comex for both gold and silver are much less than usual.
INITIAL standings for DEC/GOLD
DEC 13-/2018.
we had 0 dealer entries:
total dealer deposits: nil oz
total dealer withdrawals: 0 oz
We had 0 kilobar entries
we had 0 deposits into the customer account
total gold customer deposits; nil oz
we had 0 gold withdrawals from the customer account:
total gold withdrawing from the customer; nil oz
we had 0 adjustment..
we still have not had any adjustments out of the dealer to the customer account to signify a settlement
FOR THE DEC 2018 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 71 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and XXX notice(s) was (were) stopped/ Received) by j.P.Morgan customer account and XXX notices by the squid (Goldman Sachs)
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxTo calculate the INITIAL total number of gold ounces standing for the DEC/2018. contract month, we take the total number of notices filed so far for the month (7208) x 100 oz , to which we add the difference between the open interest for the front month of DEC. (600 contract) minus the number of notices served upon today (71 x 100 oz per contract) equals 773,700 OZ OR 24.06 TONNES) the number of ounces standing in this active month of DECEMBER
Thus the INITIAL standings for gold for the DEC/2018 contract month:
No of notices served (7208 x 100 oz) + {933)OI for the front month minus the number of notices served upon today (71 x 100 oz )which equals 773,700 oz standing OR 24.06 TONNES in this active delivery month of DECEMBER.
WE GAINED 62 CONTRACTS OR 2800 OZ WILL STAND AT THE COMEX AS THEY MORPH INTO A LONDON BASED FORWARDS AS WELL AS NEGATING TO ACCEPT A FIAT BONUS.
THERE ARE ONLY 22.597 TONNES OF REGISTERED COMEX GOLD AVAILABLE FOR DELIVERY AGAINST 23.87 TONNES STANDING FOR DECEMBER
total registered or dealer gold: 726,494.203 oz or 22.597 tonnes*total registered and eligible (customer) gold; 8,339,015.231 oz 259.37 tonnes*however we have 22.419 tonnes of gold ALREADY SERVED UPON against dealer inventory of 22.597 tonnes and so far we have had no settlements as of yet. We generally get a settlement when we see an adjustment from the dealer side to the customer side..we have a total of 24.06 tonnes of gold standing for metal against only 22.597 tonnes of dealer gold and nothing has been settled so far...
IN THE LAST 27 MONTHS 95 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE NOV DELIVERY MONTH
DEC INITIAL standings/SILVER
we had 0 inventory movement at the dealer side of things
total dealer deposits: nil oz
total dealer withdrawals: 0 oz
we had 3 deposits 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 150.55 million oz of total silver inventory or 51.03% of all official comex silver. (152.0 million/292 million)
ii) Into CNT: 583,603.400 oz
ii) Into Delaware: 274,864.230 oz
iii) Into HSBC: 600,366.600 oz
total customer deposits today: 1.458,834.230 oz
we had 3 withdrawals out of the customer account:i) Out of CNT: 64,779.406 ozii) Out of HSBC: 1,997.600 oziii) Out of Loomis: 21,065.910 oz (first transaction in years)
total withdrawals: 87,842.916 oz
we had 1 adjustments
i) Out of CNT 583,603.400 oz was adjusted out of the customer and this landed into the dealer account of CNT
total dealer silver: 88.477 million
total dealer + customer silver: 297.369 million oz
The total number of notices filed today for the DEC 2018. contract month is represented by 279 contract(s) FOR 1,395,000 oz. To calculate the number of silver ounces that will stand for delivery in DEC., we take the total number of notices filed for the month so far at 3873 x 5,000 oz = 19,365,000 oz to which we add the difference between the open interest for the front month of DEC. (552) and the number of notices served upon today (279 x 5000 oz) equals the number of ounces standing.
.
Thus the INITIAL standings for silver for the DEC/2018 contract month: 3873(notices served so far)x 5000 oz + OI for front month of DEC( 552) -number of notices served upon today (279)x 5000 oz equals 20,730,000 oz of silver standing for the DEC contract month. This is a strong number of oz standing for an off delivery month.
We gained 95 contract or 475,000 additional oz will stand and these guys refused to accept a London based forward as well as negate receiving a fiat bonus. The EFP route is nothing but a cash settlement process and it is done in London to avoid detection. It is becoming quite obvious that the bankers are in urgent need of silver as we witness the constant queue jumping in silver these past 20 months.
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ESTIMATED VOLUME FOR TODAY: 50,358 CONTRACTS ...
CONFIRMED VOLUME FOR YESTERDAY: 73,510 CONTRACTS...
YESTERDAY'S CONFIRMED VOLUME OF 73510 CONTRACTS EQUATES to 368 million OZ 52.53% 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 -3.93-% (DEC 13/2018)2. Sprott gold fund (PHYS): premium to NAV RISES TO -0.71% to NAV (DEC 13 /2018 )Note: Sprott silver trust back into NEGATIVE territory at -3.93%-/Sprott physical gold trust is back into NEGATIVE/
(courtesy Sprott/GATA)
3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA):
NAV 12.50/TRADING 12.01/DISCOUNT 3.93
END
And now the Gold inventory at the GLD/
DEC 13/WITH GOLD DOWN $2.00: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 763.56 TONNES
DEC 12/WITH GOLD UP $3.05 A HUGE DEPOSIT OF 3.24 TONNES OF GOLD INTO THE GLD/SOMETHING IS BURNING.../INVENTORY RESTS AT 763.56 TONNES
DEC 11/WITH GOLD DOWN $4.85 A SMALL DEPOSIT OF .59 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 760.32 TONNES
DEC 10/WITH GOLD DOWN $3.05 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 759.73 TONNES
DEC 7/WITH GOLD UP $8.35/A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.51 TONNES/INVENTORY RESTS AT 759.73 TONNES
DEC 6/WITH GOLD UP $1.60: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 758.21 TONNES
DEC 5/WITH GOLD DOWN $4.25: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 758.21 TONNES
DEC 4/WITH GOLD UP $7.25: A HUGE WITHDRAWAL OF 3.53 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 758.21 TONNES
DEC 3/WITH GOLD UP $13.25: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 761.74 TONNES
NOV 30/WITH GOLD DOWN $4.00: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 761.74 TONNES
NOV 29/WITH GOLD UP $1.30: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 761.74 TONNES
NOV 28/WITH GOLD UP $9.45 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 761.74 TONNES
NOV 27/WITH GOLD DOWN $8.60 A WITHDRAWAL OF 1.18 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 761.74 TONNES
NOV 26/WITH GOLD DOWN 65 CENTS: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 762.92 TONNES
NOV 23/WITH GOLD DOWN $4.25/A HUGE DEPOSIT OF 2.06 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 762.92 TONNES
NOV 21/WITH GOLD UP $6.70 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 760.86 TONNES
NOV 20/WITH GOLD DOWN $3.95: A BIG CHANGE: A GOOD SIZED DEPOSIT OF 1.18 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 760.86 TONNES
NOV 19/WITH GOLD UP $2.05: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 759.68 TONNES
NOV 16/WITH GOLD UP $8.00: A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.48 TONNES/INVENTORY RESTS AT 759.68 TONNES
NOV 15/WITH GOLD UP $5.35/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 761.16 TONNES
NOV 14/WITH GOLD UP $8.15: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 761.16 TONNES
NOV 13/WITH GOLD DOWN $1.75: A HUGE DEPOSIT OF 6.77 TONNES AT THE GLD/THAT SHOULD END THE WHACKING OF GOLD FOR NOW AND A SMALL WITHDRAWAL OF 84 TONNES: INVENTORY RESTS AT 761.16 TONNES
NOV 12/WITH GOLD DOWN $4.65: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 755.23
NOV 9/WITH GOLD DOWN $16.80: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 755.23 TONNES
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DEC 13.2018/ Inventory rests tonight at 763.56 tonnes
*IN LAST 515 TRADING DAYS: 171.60 NET TONNES HAVE BEEN REMOVED FROM THE GLD*LAST 415 TRADING DAYS: A NET 11.60 TONNES HAVE NOW BEEN REMOVED FROM GLD INVENTORY.
end
Now the SLV Inventory/
DEC 13/WITH SILVER UP 2 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.735 MILLLION OZ/
DEC 12/WITH SILVER UP 22 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.735 MILLION OZ
DEC 11/WITH SILVER UP ONE CENT TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY ESTS AT 318.735 MILLION OZ/
DEC 10/WITH SILVER DOWN 8 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.735 MILLION OZ/
DEC 7/WITH SILVER UP 16 CENTS: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.735 MILLION OZ/
DEC 6/WITH SILVER DOWN 5 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.817 MILLION OZ//INVENTORY LOWERS TO 318.735 MILLION OZ/
DEC 5/WITH SILVER DOWN 6 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY REMAINS AT 321.552 MILLION OZ.
DEC 4/WITH SILVER UP 10 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 134,000 OZ//INVENTORY RESTS AT 321.552 MILLION OZ/
DEC 3/WITH SILVER UP 29 CENTS: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 321.686 MILLION OZ/
NOV 30/WITH SILVER DOWN 17 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.22 MILLION OZ FROM THE SLV /INVENTORY RESTS AT 321.686 MILLION OZ/
NOV 29/WITH SILVER DOWN 2 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 322.906 MILLION OZ.
NOV 28/WITH SILVER UP 23 CENTS TODAY: A DEPOSIT OF 188,000 OZ/INVENTORY RESTS AT 322.906 MILLION OZ/
NOV 27/WITH SILVER DOWN 14 CENTS TODAY: A HUGE WITHDRAWAL OF 2.301 MILLION OZ FROM THE SLV/INVENTORY RESTS AT 322.718 MILLION OZ/
NOV 26/WITH SILVER DOWN ONE CENT: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 325.019 MILLION OZ
NOV 23/WITH SILVER DOWN 25 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 325.019 MILLION OZ.
NOV 21/WITH SILVER UP 23 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 325.019 MILLION OZ/
NOV 20/WITH SILVER DOWN 14 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 563,000 OZ INTO THE SLV/INVENTORY RESTS AT 325.019 MILLION OZ/
NOV 19/WITH SILVER UP 3 CENTS TODAY:NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 324.456 MILLION OZ/
NOV 16/WITH SILVER UP 9 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 324.456 MILLION OZ/
NOV 15/WITH SILVER UP 21 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 324.456 MILLION OZ
NOV 14/WITH SILVER UP 10 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 324.456 MILLION OZ
NOV 13/WITH SILVER DOWN 15 CENTS; A SMALL CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 328,000 OZ FROM THE SLV/INVENTORY RESTS AT 324.456 MILLION OZ/
NOV 12/WITH SILVER DOWN 10 CENTS/ A SMALL CHANGE IN SILVER INVENTORY A THE SLV: A WITHDRAWAL OF 940,000 OZ/INVENTORY RESTS AT 324.784 MILLION OZ
NOV 9/WITH SILVER DOWN 29 CENTS: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 325.724 MILLION OZ/
DEC 13/2018:
Inventory 318.735 MILLION OZ
LIBOR SCHEDULE AND GOFO RATES:
THE RISE IN LIBOR IS CREATING A SCARCITY OF DOLLARS BECAUSE FOREIGN EXCHANGE SWAPS (COSTS) ARE SIMPLY PROHIBITIVE
YOUR DATA.....
6 Month MM GOFO 2.59/ and libor 6 month duration 2.89
Indicative gold forward offer rate for a 6 month duration/calculation:
G0LD LENDING RATE: + .30
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12 Month MM GOFO+ 2.76%
LIBOR FOR 12 MONTH DURATION: 3.10
GOFO = LIBOR - GOLD LENDING RATE
GOLD LENDING RATE = +.34
end