STANDING ITS GROUND: Plunge Protection Team Trashing Of Silver Doesn't Work Out Too Well
Harvey Organ says the markets are easy to manipulate right now, so the PPT moved in to trash gold & silver, but silver stood its ground. Here's an update...
by Harvey Organ of Harvey Organ Blog
DEC 26/DOW UP OVER 1084 POINTS/NASDAQ UP 361 POINTS/GOLD UP 15 CENTS TO $1269.95 WITH SILVER THE STANDOUT RISING BY 27 CENTS TO $15.04/IN ACCESS MARKET: GOLD DOWN TO 1266.50 BUT SILVER REMAINS CONSTANT..ALL OF THIS WAS DONE IN A VERY ILLIQUID MARKET/A VERY ABYSMAL 5 YR TREASURY AUCTION WHICH ATTRACTED MUCH FEWER BIDS AND A HIGHER TAIL IN YIELDS///
GOLD: $1269.95 UP $0.15 (COMEX TO COMEX CLOSINGS)
Silver: $15.04 UP 27 CENTS (COMEX TO COMEX CLOSING)
Closing access prices:
Gold : 1266.50
silver: $15.04
The markets exploded northbound today as the PPT did their stuff. Whenever they meet they always trash gold and silver
It just did not work too well today on the precious metals front. The markets were very illiquid and as such very easy to manipulate values.
I will adjust GLD/SLV and Sprott numbers later tonight
For comex gold and silver:
DEC
NUMBER OF NOTICES FILED TODAY FOR DEC CONTRACT: 17 NOTICE(S) FOR 1700 OZ (0.052 tonnes)
TOTAL NUMBER OF NOTICES FILED SO FAR: 7439 NOTICES FOR 743900 OZ (23.138TONNES)
SILVER
FOR DECEMBER
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0 NOTICE(S) FILED TODAY FOR NIL OZ/
total number of notices filed so far this month: 4321 for 21,605,000
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Bitcoin: OPENING MORNING TRADE $3736: down 8
Bitcoin: FINAL EVENING TRADE: $3760 UP 22
end
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again either JPMorgan or Goldman Sachs take a huge issance (stopping) of gold at the comex.
today' JPMorgan 5/17 contracts
EXCHANGE: COMEXCONTRACT: DECEMBER 2018 COMEX 100 GOLD FUTURESSETTLEMENT: 1,267.500000000 USDINTENT DATE: 12/24/2018 DELIVERY DATE: 12/27/2018FIRM ORG FIRM NAME ISSUED STOPPED____________________________________________________________________________________________323 C HSBC 1661 C JP MORGAN 5737 C ADVANTAGE 17 11____________________________________________________________________________________________
TOTAL: 17 17MONTH TO DATE: 7,439
Let us have a look at the data for today
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In silver, the total OPEN INTEREST FELL BY AN UNUSUAL SIZED 228 CONTRACTS FROM 173,997 DOWN TO 173,685 DESPITE MONDAY'S STRONG 12 CENT GAIN IN SILVER PRICING AT THECOMEX. 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 22 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 TINY SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP:
175 EFP'S FOR DECEMBER AND 0 FOR MARCH AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE: OF 175 CONTRACTS. WITH THE TRANSFER OF 175 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 175 EFP CONTRACTS TRANSLATES INTO 0.875MILLION OZ ACCOMPANYING:
1.THE 12 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 21.665 MILLION OZ 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: 25,693 CONTRACTS (FOR 17 TRADING DAYS TOTAL 25,693 CONTRACTS) OR 128.46MILLION OZ: (AVERAGE PER DAY: 1511 CONTRACTS OR 7.556 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF DEC: 128.46 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 18.35% 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: 2,805.52 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 TINY SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 228 DESPITE THE 12 CENT GAIN IN SILVER PRICING AT THE COMEX //MONDAY..THE CME NOTIFIED US THAT WE HAD A TINY SIZED EFP ISSUANCE OF 175 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 TINY SIZED: 29 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:
i.e 175 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP's) TOGETHER WITH DECREASE OF 228 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 12 CENT GAIN INPRICE OF SILVER AND A CLOSING PRICE OF $14.77 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. .868 BILLION OZ TO BE EXACT or 124% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT DEC MONTH/ THEY FILED AT THE COMEX: 0 NOTICE(S) FOR NIL 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 21.665 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 9730 CONTRACTS UP TO 442,727 WITH THE GAIN IN THE COMEX GOLD PRICE/(A RISE IN PRICE OF $15.15//.MONDAY'S TRADING)
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A GOOD SIZED 5398 CONTRACTS:
DECEMBER HAD AN ISSUANCE OF 5398 CONTACTS AND ALL OTHER MONTHS ZERO. The NEW COMEX OI for the gold complex rests at 442,727. 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 STRONG SIZED GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 15,128 CONTRACTS: 9730 OI CONTRACTS INCREASED AT THE COMEX AND 5398 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN: 15,128 CONTRACTS OR 1,512,800 OZ = 47.05 TONNES. AND ALL OF THIS VERY STRONG DEMAND OCCURRED WITH A GAIN IN THE PRICE OF GOLD/ YESTERDAY TO THE TUNE OF $15.15
MONDAY, WE HAD 10,412 EFP'S ISSUED.
ACCUMULATION OF EFP'S GOLD AT J.P. MORGAN'S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DEC : 150,190 CONTRACTS OR 15,019,000 OZ OR 467.15TONNES (17 TRADING DAYS AND THUS AVERAGING: 8834 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 17 TRADING DAYS IN TONNES: 467.15 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES
THUS EFP TRANSFERS REPRESENTS 467.15/2550 x 100% TONNES = 18.31% OF GLOBAL ANNUAL PRODUCTION SO FAR IN DECEMBER ALONE.***
ACCUMULATION OF GOLD EFP'S YEAR 2018 TO DATE: 7245.09 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)
ACCUMULATION OF GOLD EFP FOR DEC 2018 (20 TRADING DAYS)
TOTAL FOR 2018
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 STRONG SIZED INCREASE IN OI AT THE COMEX OF 9730 WITH THE GAIN IN PRICING ($10.15) THAT GOLD UNDERTOOK MONDAY) //.WE ALSO HAD A VERY STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 5398 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 5398 EFP CONTRACTS ISSUED, WE HAD A STRONG GAIN OF 15,343 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:
5343 CONTRACTS MOVE TO LONDON AND 9745 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 47.05 TONNES). ..AND ALL OF THIS MONSTROUS DEMAND OCCURRED WITH THE GAIN OF $15.15 IN MONDAY'S TRADING AT THE COMEX
we had: 17 notice(s) filed upon for 1700 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 UP $0.15 TODAY
NO CHANGES IN GOLD INVENTORY:
/GLD INVENTORY 774.14 TONNES
Inventory rests tonight: 774.14 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 27 CENTS TODAY:
NO CHANGE IN SILVER INVENTORY
/INVENTORY RESTS AT 317.223 MILLION OZ.
Let us head over to the comex:
THE TOTAL COMEX GOLD OPEN ROSE BY A STRONG SIZED 9730 CONTRACTS UP to an OI level 442,727 WITH THE GAIN IN THE PRICE OF GOLD ($10.15) IN MONDAY'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 A STRONG SIZED COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 5398 EFP CONTRACTS WERE ISSUED:
FOR DECEMBER: 5398 AND ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 5398 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: 15,128 TOTAL CONTRACTS IN THAT 5398 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A HUGE SIZED 9730 COMEX CONTRACTS.
NET GAIN ON THE TWO EXCHANGES: 15,128 contracts OR 1,512,800 OZ OR 47.05 TONNES.
We are now in the active contract month of December and we now have a total of 100 contracts stand in December so we had a loss of 31 contracts. We had 34 notices served yesterday, so we GAINED 3 contracts or 300 oz will stand as these guys REFUSED TO morph into London based forwards and as well as NEGATING a fiat bonus.
QUEUE JUMPING RETURNS TO THE GOLD COMEX!!
The next delivery month after December is January which saw it FALL TO 1263 FOR A LOSS OF 345 CONTRACTS. February GAINED A CONSIDERABLE 7504 contracts to stand at 325,166 contracts
We have 3 more reading days before we reach first day notice for the non active January gold comex contract month.
FOR COMPARISON TO THE 2017 CONTRACT MONTH and January 2018 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.
ON JANUARY 1/2018: 1.297 TONNES STOOD FOR DELIVERY
EVENTUALLY ON JAN 31.2018: 2.17 TONNES STOOD FOR DELIVERY AS QUEUE JUMPING STARTED IN EARNEST AT THE GOLD COMEX
WE HAD 17 NOTICES FILED AT THE COMEX FOR 1700 OZ. (0.052 tonnes)
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And now for the wild silver comex results.
Total silver OI FELL BY 228 CONTRACTS FROM 173,913 up TO 173,685 (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 DESPITE A 12 CENT GAIN IN PRICING.
WE ARE NOW INTO THE ACTIVE DELIVERY MONTH OF DECEMBER AND, WE WERE INFORMED THAT WE HAD A FAIR SIZED 175 EFP CONTRACTS:
FOR DECEMBER: 175 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: 175. ON A NET BASIS WE LOST 29SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED A 228 CONTRACT LOSS AT THE COMEX COMBINING WITH THE ADDITION OF 175 OI CONTRACTS NAVIGATING OVER TO LONDON.
NET LOSS ON THE TWO EXCHANGES: 53 CONTRACTS...AND ALL OF THIS DEMAND OCCURRED WITH A 12 CENT GAIN IN PRICING// MONDAY
We are now in the non active delivery month of DECEMBER and here in this front month of December we now have 12 contracts standing for a LOSS of 30 contracts. We had 30 contracts stand for delivery yesterday so we gained 0 contracts or an additional NIL oz will stand for delivery as these guys refused to morph into London based forwards as well as negating a fiat bonus.
After December we have the non active January contract month and here we saw a LOSS of 5 contracts DOWN to 1637 contracts. February saw a 10 contract GAIN to stand at 187. March, the next big delivery month after December saw a LOSS of 433 contracts DOWN to 142,033
WE HAVE 3 MORE READING DAYS BEFORE FIRST DAY NOTICE IN THE NON ACTIVE JANUARY SILVER CONTRACT MONTH:
FOR COMPARISON TO THE COMEX 2017 CONTRACT MONTH AND JANUARY 2018 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.
ON FIRST DAY NOTICE JAN 1/2018 CONTRACT MONTH WE HAD A GOOD 2.695 MILLION OZ STAND FOR DELIVERY'
AT THE CONCLUSION OF JAN/2018 WE HAD 3.650 MILLION OZ STAND AS QUEUE JUMPING WAS THE NORM FOR SILVER
.
We had 0 notice(s) filed for NIL OZ for the DEC, 2018 COMEX contract for silver
Trading Volumes on the COMEX
PRELIMINARY COMEX VOLUME FOR TODAY: 184,972 contracts,
CONFIRMED COMEX VOL. FOR YESTERDAY: 146,381 contracts
volumes at the comex for both gold and silver are much less than usual.
INITIAL standings for DEC/GOLD
DEC 26-/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 adjustments....
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 17 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 5 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account and 0 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 (7439) x 100 oz , to which we add the difference between the open interest for the front month of DEC. (100 contract) minus the number of notices served upon today (17 x 100 oz per contract) equals 752,200 OZ OR 23.396 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 (7439 x 100 oz) + {100)OI for the front month minus the number of notices served upon today (17 x 100 oz )which equals 752,200 oz standing OR 23.396 TONNES in this active delivery month of DECEMBER.
WE GAINED 3 CONTRACTS OR 300 OZ WILL STAND AT THE COMEX AS THEY REFUSED TO MORPH INTO A LONDON BASED FORWARDS AS WELL AS NEGATING A FIAT BONUS. QUEUE JUMPING RETURNS TO THE GOLD COMEX
THERE ARE ONLY 22.417 TONNES OF REGISTERED COMEX GOLD AVAILABLE FOR DELIVERY AGAINST 23.396 TONNES STANDING FOR DECEMBER
total registered or dealer gold: 720,731.855 oz or 22.417 tonnes*total registered and eligible (customer) gold; 8,322,744.473 oz 258.87 tonnes*however we have 23.138 tonnes of gold ALREADY SERVED UPON against dealer inventory of 22.417 tonnes and so far we have had very little 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 23.396 tonnes of gold standing for metal against only 22.417 tonnes of dealer gold and .182 tonnes has been settled so far...(Dec 17)
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 0 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 everybody else: nil
total customer deposits today: nil oz
we had 1 withdrawals out of the customer account:i)Out of Delaware: 1890.900 oz
total withdrawals: 1890.900 oz
we had 0 adjustments
total dealer silver: 83.403 million
total dealer + customer silver: 293.552 million oz
The total number of notices filed today for the DEC 2018. contract month is represented by 0 contract(s) FOR NIL 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 4321 x 5,000 oz = 21,605,000 oz to which we add the difference between the open interest for the front month of DEC. (12) and the number of notices served upon today (0x 5000 oz) equals the number of ounces standing.
.
Thus the INITIAL standings for silver for the DEC/2018 contract month: 4321(notices served so far)x 5000 oz + OI for front month of DEC( 12) -number of notices served upon today (0)x 5000 oz equals 21,665,000 oz of silver standing for the DEC contract month. This is a strong number of oz standing for an off delivery month.
We GAINED 0 contracts or NIL 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: 71,181 CONTRACTS ...
CONFIRMED VOLUME FOR YESTERDAY: 31,666 CONTRACTS...
volumes at the comex very light considering the break out in silver.
YESTERDAY'S CONFIRMED VOLUME OF 31,666 CONTRACTS EQUATES to 158 million OZ 22.61% 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 -34.00-% (DEC 26/2018)2. Sprott gold fund (PHYS): premium to NAV RISES TO -1.28% to NAV (DEC 26 /2018 )Note: Sprott silver trust back into NEGATIVE territory at -4.00%-/Sprott physical gold trust is back into NEGATIVE/
(courtesy Sprott/GATA)
3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA):
NAV 12.73/TRADING 12.28/DISCOUNT 3.61
END
And now the Gold inventory at the GLD/
DEC 26/WITH GOLD UP $0.15: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 774.14 TONNES
DEC 24/WITH GOLD UP $15.15: A HUGE DEPOSIT OF 5.00 TONNES INTO THE GLD/INVENTORY RESTS AT 774.14 TONNES
DEC 21/WITH GOLD DOWN $10.15 TODAY: A HUGE WITHDRAWAL OF 2.65 TONNES/INVENTORY RESTS AT 769.14 TONNES
DEC 20/WITH GOLD UP $11.50 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY AT 771.79 TONNES
DEC 19/WITH GOLD UP $3.15 TODAY: A HUGE DEPOSIT OF 8.23 TONNES OF GOLD ENTERED THE GLD/INVENTORY RESTS AT 771.79 TONNES
DEC 18/WITH GOLD UP $1.50 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 763.56 TONNES
DEC 17 WITH GOLD UP $10.60 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 763.56 TONNES
DEC 14/WITH GOLD DOWN $5.60: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 763.56 TONNES
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
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DEC 26.2018/ Inventory rests tonight at 774.14 tonnes
*IN LAST 523 TRADING DAYS: 161.02 NET TONNES HAVE BEEN REMOVED FROM THE GLD*LAST 423 TRADING DAYS: A NET 1.02 TONNES HAVE NOW BEEN REMOVED FROM GLD INVENTORY.
end
Now the SLV Inventory/
DEC 26/WITH SILVER UP 27 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 317.139 MILLION OZ
DEC 21/WITH SILVER DOWN 14 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 317.139 MILLION OZ/
DEC 20/WITH SILVER UP 4 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.408 MILLION OZ OF SILVER FROM THE SLV/ INV. RESTS AT 317.139 MILLION OZ/
DEC 19/WITH SILVER UP 10 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 751,000 OZ INTO THE SLV./INVENTORY RESTS AT 318.547 MILLION OZ/
DEC 18/WITH SILVER DOWN 4 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 317.796 MILLION OZ/
DEC 17/WITH SILVER UP 13 CENTS TODAY/ A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 939,000 OZ FROM THE SLV/INVENTORY RESTS AT 317.796 MILLION OZ/.
DEC 14/WITH SILVER DOWN 22 CENTS: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.735 MILLION OZ/
DEC 13/WITH SILVER UP 2 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.735 MILLION 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/
DEC 26/2018:
Inventory 317.139 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 2.42/ and libor 6 month duration 2.89
Indicative gold forward offer rate for a 6 month duration/calculation:
G0LD LENDING RATE: + .47
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12 Month MM GOFO+ 2.65%
LIBOR FOR 12 MONTH DURATION: 3.05
GOFO = LIBOR - GOLD LENDING RATE
GOLD LENDING RATE = +.40
end