Harvey Organ: The Banks & Hedge Funds Must Be Covering Their Silver Shorts
Has the short covering begun? Harvey organ seems to think there must be both baker and spec short covering going on. Here's why...
by Harvey Organ of Harvey Organ Blog
AUGUST 29/GOLD HOLDS AND IS DOWN ONLY $2.90 TO $1205.90 BUT UP 6.00 DOLLARS FROM LAST NIGHT'S ACCESS MARKET/SILVER IS DOWN 10 CENTS TO $14.74/CRACKS ARE STARTING TO APPEAR INSIDE THE IRANIAN GOVERNMENT AS KEY OFFICIALS WERE SACKED/BOTH THE TURKISH LIRA AND THE ARGENTINIAN PESO COLLAPSE AS BOTH COUNTRIES FAIL TO SUPPORT THEIR CURRENCY WITH MEASURES/BRAZIL HAS A HUGE INFRASTRUCTURE MESS AS THE TRUCKING STRIKES KILLED THEIR ECONOMY/HUGE SWAMP STORIES FOR YOU TONIGHT/
GOLD: $1205.90 DOWN $2.90 (COMEX TO COMEX CLOSINGS)
Silver: $14.74 DOWN 10 CENTS (COMEX TO COMEX CLOSING)
Closing access prices:
Gold $1207.00
silver: $14.77
It was extremely noteworthy today that under a low key, the Central Bank of India added 8 tonnes of gold to its official level and thus their total holdings: 566.00 The Central bank has been forever trying to thwart its citizens from buying gold and now they do? Something is up!!
For comex gold:
AUGUST/
NUMBER OF NOTICES FILED TODAY FOR AUGUST CONTRACT: 62 NOTICE(S) FOR 6200 oz
TOTAL NOTICES SO FAR 2386 FOR 238600 OZ (7.4214 tonnes)
For silver:
AUGUST
1 NOTICE(S) FILED TODAY FOR
5,000 OZ/
Total number of notices filed so far this month: 1211 for 6,055,000 oz
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Bitcoin: BID $7026/OFFER $7114: DOWN $12(morning)
Bitcoin: BID/ $7005/offer $7090: DOWN $33(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: $1211.11
NY price at the same time:$1203.70
PREMIUM TO NY SPOT: $7.41
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Second gold fix early this morning: $ 1210.29
USA gold at the exact same time:$1203.00
PREMIUM TO NY SPOT: $7.29
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 SURPRISINGLY FELL BY HUMONGOUS 8389 CONTRACTS FROM 235,718 DOWN TO 227,329 DESPITE YESTERDAY'S TINY 5 CENT FALL IN SILVER PRICING AT THE COMEX. WE MUST HAVE HAD CONTINUAL BANKER AND SPECULATOR SHORT COVERING TO A HIGH DEGREE!!
TODAY WE MOVED A LITTLE AWAY FROM LAST WEEK'S RECORD SETTING OPEN INTEREST OF 244,196 CONTRACTS.
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 6 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 VERY STRONG SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDONTHROUGH THE EFP:
2580 EFP'S FOR SEPT. , 494 EFP'S FOR DECEMBER AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE: OF 3344 CONTRACTS. WITH THE TRANSFER OF 1881 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 3344 EFP CONTRACTS TRANSLATES INTO 16.72MILLION OZ AND ACCOMPANYING:
1.THE 5 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, AND NOW 6.065 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:
34,105 CONTRACTS (FOR 21 TRADING DAYS TOTAL 34,105 CONTRACTS) OR 170.525 MILLION OZ: (AVERAGE PER DAY: 1624 CONTRACTS OR 8.120 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF JULY: 170.525 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 24.28% 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: 2,002.22 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 HUGE SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 8389 DESPITE THE TINY 5 CENT RISE IN SILVER PRICING AT THE COMEX YESTERDAY. THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 3344 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 LOST A GIGANTIC SIZED: 5045 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:
i.e 3344 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP's) TOGETHER WITH A DECREASE OF 8389 OI COMEX CONTRACTS. AND ALL OF THIS LOSS OF DEMAND HAPPENED WITH A SMALL 5 CENT LOSS IN PRICE OF SILVER AND A CLOSING PRICE OF $14.84 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 6.065 MILLION OZ IN A NON ACTIVE MONTH. IT SURE LOOKS LIKE ANOTHER FAILED BANKER AND SPECULATOR SHORT COVERING EXERCISE AS THESE GUYS ARE SCRAMBLING TO COVER THEIR HUGE SHORTFALL IN SILVER.
In ounces AT THE COMEX, the OI is still represented by OVER 1 BILLION oz i.e. 1.153 MILLION OZ TO BE EXACT or 164% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT AUGUST MONTH/ THEY FILED AT THE COMEX: 1 NOTICE(S) FOR 5,000 OZ OF SILVER
IN SILVER,PRIOR TO TODAY, WE SET THE NEW RECORD OF OPEN INTEREST AT 243,411 CONTRACTSON 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 ) AND NOW FOR AUGUST 6.065 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 $14.78HUGE 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 3059 CONTRACTS UP TO 479,283 WITH THE LOSS IN THE COMEX GOLD PRICE/YESTERDAY'S TRADING (A FALL IN PRICE OF $1.60). THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 8260 CONTRACTS:
AUGUST HAD AN ISSUANCE OF 0 CONTRACTS, OCTOBER HAD 680 EFP'S ISSUED AND, DECEMBER HAD AN ISSUANCE OF 7580 CONTACTS AND ALL OTHER MONTHS ZERO. The NEW COMEX OI for the gold complex rests at 479,283. 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 VERY GOOD OI GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 5,201 CONTRACTS: 3059 OI CONTRACTS DECREASED AT THE COMEX AND 8260 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN: 5,201 CONTRACTS OR 520,100 OZ = 16.17 TONNES. AND ALL OF THIS STRONG DEMAND OCCURRED WITH A LOSS IN THE PRICE OF GOLD/ YESTERDAY TO THE TUNE OF $1.60.
YESTERDAY, WE HAD 2507 EFP'S ISSUED.
ACCUMULATION OF EFP'S GOLD AT J.P. MORGAN'S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JUNE : 141,370 CONTRACTS OR 14,137,000 OZ OR 439.72 TONNES (21 TRADING DAYS AND THUS AVERAGING: 6731 EFP CONTRACTS PER TRADING DAY OR 673,100 OZ/ TRADING DAY),,
TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 21 TRADING DAYS IN TONNES: 439.72 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES
THUS EFP TRANSFERS REPRESENTS 439.72/2550 x 100% TONNES = 17.24% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JULY ALONE.***
ACCUMULATION OF GOLD EFP'S YEAR 2018 TO DATE: 5,157.40* 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 DECREASE IN OI AT THE COMEX OF 3059 WITH THE LOSS IN PRICING ($1.60 THAT GOLD UNDERTOOK YESTERDAY) // . WE ALSO HAD A VERY STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 8260 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 8260 EFP CONTRACTS ISSUED, WE HAD A GOOD GAIN OF 5,201 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:
8260 CONTRACTS MOVE TO LONDON AND 3059 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 16.17 TONNES). ..AND THIS GOOD DEMAND OCCURRED WITH THE LOSS OF $1.60 IN YESTERDAY'S TRADING AT THE COMEX!!!.
we had: 62 notice(s) filed upon for 6200 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 $2.90 TODAY: /
THE CROOKS WERE AT IT AGAIN: ANOTHER 4.71 TONNES OF GOLD ARE WITHDRAWN FROM THE GLD
/GLD INVENTORY 759.87 TONNES
Inventory rests tonight: 759.87 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 10 CENTS TODAY
NO CHANGE IN SILVER INVENTORY AT THE SLV
/INVENTORY RESTS AT 329.104 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 3059 CONTRACTS UP to an OI level 479,283 DESPITE THE FALL IN THE PRICE OF GOLD ($1.60 LOSS/ 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 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 VERY STRONG SIZED COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 8260 EFP CONTRACTS WERE ISSUED:
OCTOBER: 680 EFP'S AND DECEMBER: 7580 AND ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 8260 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 GOOD 5,201 TOTAL CONTRACTS IN THAT 8260 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST 3059 COMEX CONTRACTS.
NET GAIN ON THE TWO EXCHANGES: 5201 contracts OR 520,100 OZ OR 16.17 TONNES.
Result: A CONSIDERABLE SIZED DECREASE IN COMEX OPEN INTEREST WITH THE SMALL FALL IN PRICE/ YESTERDAY (ENDING UP WITH THE LOSS IN PRICE OF $1.60). THE TOTAL OPEN INTEREST GAIN ON THE TWO EXCHANGES: 5,201 OI CONTRACTS..
We are now in the active contract month of AUGUST. For the August contract month, we lost 11 contracts to stand at 102 contracts. The number of notices filed for yesterday was 1 contracts so we lost 10 contacts or an additional 1000 oz will not stand at the comex as these investors morphed into London based forwards and received a fiat bonus for their efforts.
AFTER AUGUST, SEPTEMBER LOST 433 CONTRACTS AND THUS FALLS TO 900 CONTRACTS.
THE NEXT ACTIVE DELIVERY MONTH IS OCTOBER AND HERE THE OI gained 534 CONTRACTS up TO 56,267 CONTRACTS. DECEMBER SAW ITS OPEN INTEREST FALL BY 4348 CONTRACTS DOWN TO 361,694.
WE HAD 62 NOTICES FILED AT THE COMEX FOR 6200 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.
FOR THE UPCOMING SEPT GOLD CONTRACT MONTH;
ON AUGUST 29.2017: (2 MORE READING DAYS BEFORE FIRST DAY NOTICE) 1158 CONTRACTS WERE OPEN FOR THE UPCOMING SEPT CONTRACT VS TODAY, AUG. 29.2018: (2 MORE READING DAYS) 900
FOR COMEX SEPT FIRST DAY NOTICE GOLD STANDING: 80,700 OZ OR 2.696 TONNES.
BY THE END OF SEPTEMBER: 57,700 OZ OR 1.797 TONNES FINALLY STOOD AS THE OTHERS MORPHED INTO LONDON BASED FORWARDS.
Trading Volumes on the COMEX
PRELIMINARY COMEX VOLUME FOR TODAY: 238,175 contracts
CONFIRMED COMEX VOL. FOR YESTERDAY: 299.276 contracts
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And now for the wild silver comex results.
Total silver OI FELL BY A HUMONGOUS SIZED 8389 CONTRACTS FROM 237,613 DOWN TO 227,329 (AND A LITTLE 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 DESPITE A 5 CENT LOSS IN PRICING.AS WE MUST HAVE HAD CONSIDERABLE BANKER AND HEDGE FUND SHORT COVERING
WE ARE NOW INTO THE NON - ACTIVE DELIVERY MONTH OF AUGUST, WE WERE INFORMED THAT WE HAD A GOOD SIZED 3344 EFP CONTRACTS: FOR AUGUST: 0 EFP CONTRACTS, FOR SEPT: 2580 CONTRACTS AND FOR DECEMBER: 494 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: 3344. ON A NET BASIS WE LOST 5045 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED 8389 CONTRACT LOSS AT THE COMEX COMBINING WITH THE ADDITION OF 3344 OI CONTRACTS NAVIGATING OVER TO LONDON.
NET LOSS ON THE TWO EXCHANGES: 5045 CONTRACTS.
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FOR THE FRONT MONTH OF AUGUST WE HAD A NET LOSS OF 0 CONTRACTS REMAINING AT 2 CONTRACTS. WE HAD 0 NOTICES FILED YESTERDAY SO WE GAINED 0 CONTRACTS STANDING OR AN ADDITIONAL NIL OZ WILL STAND AT THE COMEX AS THESE GUYS AGAIN 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 LITTLE QUEUE JUMPING AT THE GOLD COMEX FOR THE SIMPLE REASON THAT THERE IS HARDLY ANY GOLD THERE.
The next active delivery month after August for silver is September and here the OI FELL by 18,493 contracts DOWN to 32,158. October PICKED UP 62 contracts to stand at 636
After October, the next big delivery month is December and here the OI rose by 9374 contracts up to 173,236 contracts.
We had 1 notice(s) filed for 5,000 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.
AND NOW FOR THE ACTIVE SEPTEMBER SILVER CONTRACT AND COMPARISON TO LAST YR:
AUGUST 29.2017:(2 MORE READING DAYS) 28,784 OPEN INTEREST CONTACTS STILL OPEN FOR THE UPCOMING SEPT ACTIVE CONTRACT MONTH VS TODAY AUG 28.2018:(2 MORE READING DAYS) 32,158 CONTRACTS.
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
INITIAL standings for AUGUST/GOLD
AUGUST 29-/2018.
today we have a tiny pulse at the comex but as usual 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 1 withdrawals out of the customer account:i) Out of JPMorgan: 2175.034 oz leaves all official comex vaultstotal customer withdrawals: nil ozwe had 0 customer deposittotal customer deposits: nil ozwe had 0 adjustment
we had 1 inventory movement at the dealer side of things
i) Into the dealer Brinks: 15,589.85 oa
total dealer deposits: 15,589.85 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 145.4 million oz of total silver inventory or 50.8% of all official comex silver. (145 million/286 million)
ii) Into everybody else: 0 oz
total customer deposits today: nil oz
we had 1 withdrawals from the customer account;
i) Out of Delaware: 1031.000 oz
total withdrawals: 1031.000 oz
we had 0 adjustment
i) Out of Brinks:
total dealer silver: 83.597 million
total dealer + customer silver: 292.224 million oz
The total number of notices filed today for the AUGUST. contract month is represented by 1 contract(s) FOR 5,000 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 1212 x 5,000 oz = 6.060,000 oz to which we add the difference between the open interest for the front month of AUGUST. (2) and the number of notices served upon today (1 x 5000 oz) equals the number of ounces standing.
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Thus the INITIAL standings for silver for the AUGUST/2018 contract month: 1212(notices served so far)x 5000 oz + OI for front month of AUGUST(2) -number of notices served upon today (1)x 5000 oz equals 6,065,000 oz of silver standing for the AUGUST contract month
WE GAINED 0 CONTRACTS OR AN ADDITIONAL NIL OZ WILL STAND FOR DELIVERY AT THE COMEX AS THESE GUYS REFUSED TO MORPH INTO A LONDON BASED FORWARDS
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ESTIMATED VOLUME FOR TODAY: 125,296 CONTRACTS criminal
CONFIRMED VOLUME FOR YESTERDAY: 162,842 CONTRACTS..criminal
YESTERDAY'S CONFIRMED VOLUME OF 162,842 CONTRACTS EQUATES TO 814 million OZ OR 116.3.% 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 RISES TO -3.88% (AUGUST 28/2018)2. Sprott gold fund (PHYS): premium to NAV FALLS TO -1.32% to NAV (AUGUST 28/2018 )Note: Sprott silver trust back into NEGATIVE territory at -3.88%-/Sprott physical gold trust is back into NEGATIVE/
(courtesy Sprott/GATA)
3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA):
NAV 12.34/TRADING 11.87/DISCOUNT 3.73.
END
And now the Gold inventory at the GLD/
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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AUGUST 29/2018/ Inventory rests tonight at 759.87 tonnes
*IN LAST 445 TRADING DAYS: 171.14 NET TONNES HAVE BEEN REMOVED FROM THE GLD*LAST 345 TRADING DAYS: A NET 14.6 TONNES HAVE NOW BEEN REMOVED FROM GLD INVENTORY.
end
Now the SLV Inventory/
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/
AUGUST 29/2018:
Inventory 329.104 MILLION OZ
6 Month MM GOFO 1.97/ and libor 6 month duration 2.53
Indicative gold forward offer rate for a 6 month duration/calculation:
G0FO+ 1.97
libor 2.53 FOR 6 MONTHS/
GOLD LENDING RATE: .56%
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12 Month MM GOFO+ 2.41%
LIBOR FOR 12 MONTH DURATION: 2.83
GOFO = LIBOR - GOLD LENDING RATE
GOLD LENDING RATE = +.42
end
For AUGUST/2018:
Today, 0 notice(s) were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 62 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 62 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 (2386) x 100 oz or 238,600 oz, to which we add the difference between the open interest for the front month of AUGUST. (102 contracts) minus the number of notices served upon today (62 x 100 oz per contract) equals 242,600 OZ OR 7.5458 TONNES) the number of ounces standing in this non active month of AUGUST
Thus the INITIAL standings for gold for the AUGUST/2018 contract month:
No of notices served (2386 x 100 oz) + {(102)OI for the front month minus the number of notices served upon today (62 x 100 oz )which equals 242,600 oz standing OR 7.5458 TONNES in this active delivery month of AUGUST.
WE LOST 10 COMEX CONTRACTS OR AN ADDITIONAL 1000 OZ WILL NOT STAND AS THESE GUYS MORPHED INTO LONDON BASED FORWARDS AND RECEIVED A FIAT BONUS FOR THEIR EFFORTS.
THERE ARE ONLY 8.793 TONNES OF REGISTERED COMEX GOLD AVAILABLE FOR DELIVERY AGAINST 7.5458 TONNES STANDING FOR AUGUST
total registered or dealer gold: 282,724.026 oz or 8.793 tonnestotal registered and eligible (customer) gold; 8,430,566.702 oz 262.22 tonnes
IN THE LAST 24 MONTHS 93 NET TONNES HAS LEFT THE COMEX.
end