Harvey Organ: Silver Has Just Set A New All-Time High In Open Interest
Harvey points out something very interesting about silver's price action on the way to setting the all-time record in open interest. Here are the details...
by Harvey Organ of Harvey Organ Blog
AUGUST 22/GOLD UP $3.45 TO $1196.75 WITH SILVER DOWN ONE CENT TO $14.77: SILVER NOW HAS A RECORD 244,196 OPEN INTEREST BUT NOT PRICE: IT IS AT THE BOTTOM OF THE BARREL/TURKEY DID NOT SELL ANY OF ITS GOLD: THE WORLD GOLD COUNCIL HAD DECIDED THAT GOLD HELD BY ITS BANKS SHOULD NOT BE INCLUDED AS OFFICIAL RESERVES/EXISTING HOME SALES PLUMMET IN THE USA/BRAZILIAN REAL PLUMMETS TO 4.09 AND A DANGER FOR CONTAGION/A PLETHORA OF SWAMP STORIES FOR YOU TONIGHT/
GOLD: $1196.75 UP $3.45 (COMEX TO COMEX CLOSINGS)
Silver: $14.77 DOWN 1 CENT (COMEX TO COMEX CLOSINGS)
Closing access prices:
Gold $1195.60
silver: $14.75
For comex gold:
AUGUST/
NUMBER OF NOTICES FILED TODAY FOR AUGUST CONTRACT: 16 NOTICE(S) FOR 1600
TOTAL NOTICES SO FAR 2286 FOR 228,600 OZ (7.110 tonnes)
For silver:
AUGUST
0 NOTICE(S) FILED TODAY FOR
nil OZ/
Total number of notices filed so far this month: 1178 for 5,890,000 oz
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Bitcoin: BID $6604/OFFER $6689: UP $175(morning)
Bitcoin: BID/ $6386/offer $6471: UP $126 (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: $1201.54
NY price at the same time:$1196.20
PREMIUM TO NY SPOT: $5.34
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Second gold fix early this morning: $ 1200.16
USA gold at the exact same time:$1194.15
PREMIUM TO NY SPOT: $6.01
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 VERY STRONG 5583 CONTRACTS FROM 238,613 UP TO 244,196 ACCOMPANYING YESTERDAY'S 12 CENT RISE IN SILVER PRICING AT THE COMEX. WE HAVE GENERALLY BEEN WITNESSING A SLOW COMEX ACCUMULATION THESE PAST SEVERAL DAYS AND AFTER A ONE DAY HIATUS LAST WEEK, IT CONTINUES ONWARD. YESTERDAY I WROTE: "TUESDAY'S OI SHOULD BE A WHOPPER". ACTUALLY IT WAS TODAY AS WE NOW HAVE AN ALL TIME RECORD FOR COMEX OPEN INTEREST.
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 RATHER SMALL SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDONTHROUGH THE EFP:
571 EFP'S FOR SEPT. , 0 EFP'S FOR DECEMBER AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE: OF 664 CONTRACTS. WITH THE TRANSFER OF 571 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 571 EFP CONTRACTS TRANSLATES INTO 2.885MILLION OZ AND ACCOMPANYING:
1.THE 12 CENT RISE 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 6.000 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:
20,716 CONTRACTS (FOR 16 TRADING DAYS TOTAL 20,716 CONTRACTS) OR 103.580 MILLION OZ: (AVERAGE PER DAY: 1294 CONTRACTS OR 6.473 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF JULY: 103.580 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 14.8% 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: 1,933.24 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 VERY STRONG SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 5583 WITH THE 12 CENT RISE IN SILVER PRICING AT THE COMEX YESTERDAY. THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 571 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 VERY STRONG SIZED: 6154 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:
i.e 571 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP's) TOGETHER WITH A INCREASE OF 5583 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 12 CENT RISE IN PRICE OF SILVER AND A CLOSING PRICE OF $14.78 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 6.000 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 SILVER.
In ounces AT THE COMEX, the OI is still represented by OVER 1 BILLION oz i.e. 1.221 MILLION OZ TO BE EXACT or 175% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT AUGUST MONTH/ THEY FILED AT THE COMEX: 0 NOTICE(S) FOR NIL 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 AND AGAIN WHEN THE RECORD IS SET, THE PRICE OF SILVER IS LOWER THAT THE PREVIOUS ONE. TODAY'S LOW PRICE IS 14.78.
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 STANDING: 30.370 MILLION OZ ) AND NOW FOR AUGUST 6.000 MILLION OZ.HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018) AND NOW AGAIN TODAY: 244,196 CONTRACTS, AUGUST 22.2018 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 ROSE BY A GOOD SIZED 2262 CONTRACTS UP TO 483,730 WITH THE STRONG GAIN IN THE COMEX GOLD PRICE/YESTERDAY'S TRADING (A RISE IN PRICE OF $5.75). THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A GOOD SIZED 6154 CONTRACTS:
AUGUST HAD AN ISSUANCE OF 0 CONTRACTS, OCTOBER HAD 0EFP'S ISSUED AND, DECEMBER HAD AN ISSUANCE OF 6471 CONTACTS AND ALL OTHER MONTHS ZERO. The NEW COMEX OI for the gold complex rests at 483,730. 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 STRONG OI GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 8733 CONTRACTS: 2262 OI CONTRACTS INCREASED AT THE COMEX AND 6471 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN: 8733 CONTRACTS OR 873,300 OZ = 27.16 TONNES. AND ALL OF THIS HUGE DEMAND OCCURRED WITH A SMALLISH GAIN IN THE PRICE OF GOLD/ YESTERDAY TO THE TUNE OF $5.75.???..
YESTERDAY, WE HAD 4594 EFP'S ISSUED.
ACCUMULATION OF EFP'S GOLD AT J.P. MORGAN'S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JUNE : 113,424 CONTRACTS OR 11,324,000 OZ OR 352.22 TONNES (16 TRADING DAYS AND THUS AVERAGING: 7089 EFP CONTRACTS PER TRADING DAY OR 708,900 OZ/ TRADING DAY),,
TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 16 TRADING DAYS IN TONNES: 352.22 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES
THUS EFP TRANSFERS REPRESENTS 352.22/2550 x 100% TONNES = 13.81% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JULY ALONE.***
ACCUMULATION OF GOLD EFP'S YEAR 2018 TO DATE: 5,071.51* 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 GOOD SIZED INCREASE IN OI AT THE COMEX OF 2262 WITH THE GOOD GAIN IN PRICING ($5.75 THAT GOLD UNDERTOOK YESTERDAY) // . WE ALSO HAD A GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 6471 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 6471 EFP CONTRACTS ISSUED, WE HAD A VERY STRONG GAIN OF 8733 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:
6471 CONTRACTS MOVE TO LONDON AND 2262 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 27.16 TONNES). ..AND THIS VERY STRONG DEMAND OCCURRED WITH THE SMALLISH GAIN OF $5.75 IN YESTERDAY'S TRADING AT THE COMEX!!!. ????
we had: 16 notice(s) filed upon for 1600 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 $3.45 TODAY: /
A NO CHANGES IN GOLD INVENTORY AT THE GLD:
/GLD INVENTORY 768.70 TONNES
Inventory rests tonight: 768.70 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 1 CENT 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 ROSE BY A GOOD SIZED 2262 CONTRACTS UP to an OI level 483,730 WITH THE RISE IN THE PRICE OF GOLD ($5.75 GAIN/ 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 GOOD SIZED COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 6471 EFP CONTRACTS WERE ISSUED:
OCTOBER: 0 EFP'S AND DECEMBER: 6471 AND ZERO FOR ALL OTHER MONTHS:
TOTAL EFP ISSUANCE: 6471 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 8733 TOTAL CONTRACTS IN THAT 6471 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED 2262COMEX CONTRACTS.
NET GAIN ON THE TWO EXCHANGES: 8733 contracts OR 873,300 OZ OR 27.16 TONNES.
Result: A STRONG INCREASE IN COMEX OPEN INTEREST WITH THE GAIN IN PRICE/YESTERDAY (ENDING UP WITH THE GOOD GAIN IN PRICE OF $5.75). THE TOTAL OPEN INTEREST GAIN ON THE TWO EXCHANGES: 8733 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. For the August contract month, we lost 27 contracts to stand at 210 contracts. The number of notices filed for yesterday was 29contracts so we gained 2 contacts or an additional 200 oz will stand at the comex as these investors refused to morph into London based forwards and receive a fiat bonus for their efforts.
AFTER AUGUST, SEPTEMBER LOST 162 CONTRACTS AND THUS FALLS TO 1943 CONTRACTS.
THE NEXT ACTIVE DELIVERY MONTH IS OCTOBER AND HERE THE OI LOST 477 CONTRACTS DOWN TO 56,913 CONTRACTS. DECEMBER SAW ITS OPEN INTEREST RISE BY 2478 CONTRACTS UP TO 364,8162.
WE HAD 16 NOTICES FILED AT THE COMEX FOR 1600 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.
ON AUGUST 22.2017: 1364 CONTRACTS WERE OPEN FOR THE UPCOMING SEPT CONTRACTS VS TODAY, AUG. 22.2018: 1943
Trading Volumes on the COMEX
PRELIMINARY COMEX VOLUME FOR TODAY: 223,455 contracts
CONFIRMED COMEX VOL. FOR YESTERDAY: 225,402 contracts
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And now for the wild silver comex results.
Total silver OI ROSE BY A VERY STRONG SIZED 5583 CONTRACTS FROM 238,613 UP TO 244,196 (AND A NEW RECORD OI FOR SILVER/AUGUST 22.2018. (THE PREVIOUS RECORD WAS SET APRIL 9.2018/ 243,411 CONTRACTS) AND TODAY'S OI COMEX GAIN OCCURRED WITH A SMALLISH 12 CENT GAIN IN PRICING THAT SILVER UNDERTOOK YESTERDAY.
SINCE WE ARE NOW INTO THE NON - ACTIVE DELIVERY MONTH OF AUGUST, WE WERE INFORMED THAT WE HAD A FAIR SIZED 571 EFP CONTRACTS: FOR AUGUST: 0 EFP CONTRACTS, FOR SEPT: 571 CONTRACTS AND FOR DECEMBER: 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: 571. ON A NET BASIS WE GAINED 6154 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED 5583 CONTRACT GAIN AT THE COMEX COMBINING WITH THE ADDITION OF 571 OI CONTRACTS NAVIGATING OVER TO LONDON.
NET GAIN ON THE TWO EXCHANGES: 6154 CONTRACTS.
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FOR THE FRONT MONTH OF AUGUST WE HAD A NET LOSS OF 16 CONTRACTS DOWN T0 22 CONTRACTS. WE HAD 16 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 8970 contracts DOWN to 110,373. October PICKED UP 46 contracts to stand at 276
After October, the next big delivery month is December and here the OI rose by 14,336 contracts up to 118,028 contracts.
We had 0 notice(s) filed for NIL 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.
FOR THOSE THAT WISH TO FOLLOW TODAY'S SILVER OI VS LAST YR
AUGUST 22.2017: 80,314 OPEN INTEREST CONTACTS STILL OPEN FOR THE UPCOMING SEPT ACTIVE CONTRACT MONTH VS TODAY AUG 22.2018: 110,373 CONTRACTS.(DEMAND REMAINS EXTREMELY STRONG DESPITE THE LOWER PRICE)
INITIAL standings for AUGUST/GOLD
AUGUST 22-/2018.
today we have a tiny pulse at the comex and still 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 withdrawal out of the customer account:total customer withdrawals: nil ozwe had 0 customer deposittotal customer deposits: nil ozwe had 1 adjustmenti) out of JPMorgan: 2,175.034 oz was adjusted out of the dealer account and this moved into the customer account of jPmorgan and generally this is a settlementFor 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 16 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 8 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 (2286) x 100 oz or 228,600 oz, to which we add the difference between the open interest for the front month of AUGUST. (210 contracts) minus the number of notices served upon today (16 x 100 oz per contract) equals 248,000 OZ OR 7.713 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 (2286 x 100 oz) + {(210)OI for the front month minus the number of notices served upon today (16 x 100 oz )which equals 248,000 oz standing OR 7.713 TONNES in this active delivery month of AUGUST.
WE GAINED 2 COMEX CONTRACTS OR AN ADDITIONAL 200 OZ WILL STAND AS THESE GUYS REFUSED TO
MORPH INTO LONDON BASED FORWARDS.
THERE ARE ONLY 8.793 TONNES OF REGISTERED COMEX GOLD AVAILABLE FOR DELIVERY AGAINST 7.713 TONNES STANDING FOR AUGUST
total registered or dealer gold: 282,724.026 oz or 8.793 tonnestotal registered and eligible (customer) gold; 8,476,117.084 oz 263,.64 tonnes
IN THE LAST 24 MONTHS 91 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 145.4 million oz of total silver inventory or 50.8% of all official comex silver. (145 million/286 million)
ii) Into everybody else: nil oz
total customer deposits today: nil oz
we had 3 withdrawals from the customer account;
i) Out of Int - Delaware: 25,178.570 oz
ii) out of Brinks: 39,659.520 oz
iii) Out of CNT: 29,749.825 oz
total withdrawals: 94,587.915 oz
we had 0 adjustment
total dealer silver: 82.761 million
total dealer + customer silver: 289.395 million oz
The total number of notices filed today for the AUGUST. contract month is represented by 0 contract(s) FOR NIL 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 1178 x 5,000 oz = 5,890,000 oz to which we add the difference between the open interest for the front month of AUGUST. (22) and the number of notices served upon today (0 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: 1178(notices served so far)x 5000 oz + OI for front month of AUGUST(22) -number of notices served upon today (0)x 5000 oz equals 6,000,000 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 AND THESE GUYS REFUSED TO MORPH INTO A LONDON BASED FORWARDS AND THUS THEY WILL NOT TAKE THE FIAT BONUS.
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ESTIMATED VOLUME FOR TODAY: 130,388CONTRACTS
CONFIRMED VOLUME FOR YESTERDAY: 96,086 CONTRACTS
YESTERDAY'S CONFIRMED VOLUME OF 96,086 CONTRACTS EQUATES TO 480- million OZ OR 68.6% 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 -4.09% (AUGUST 22/2018)2. Sprott gold fund (PHYS): premium to NAV RISES TO -1.25% to NAV (AUGUST 22/2018 )Note: Sprott silver trust back into NEGATIVE territory at -4.09%-/Sprott physical gold trust is back into NEGATIVE/
(courtesy Sprott/GATA)
3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA):
NAV 12.27/TRADING 11.82//DISCOUNT 3.64.
END
And now the Gold inventory at the GLD/
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 22/2018/ Inventory rests tonight at 768.74 tonnes
*IN LAST 440 TRADING DAYS: 162/25 NET TONNES HAVE BEEN REMOVED FROM THE GLD*LAST 340 TRADING DAYS: A NET 5.71 TONNES HAVE NOW BEEN REMOVED FROM GLD INVENTORY.
end
Now the SLV Inventory/
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 22/2018:
Inventory 329.104 MILLION OZ
6 Month MM GOFO 1.94/ and libor 6 month duration 2.51
Indicative gold forward offer rate for a 6 month duration/calculation:
G0FO+ 1.94
libor 2.51 FOR 6 MONTHS/
GOLD LENDING RATE: .57%
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12 Month MM GOFO+ 2.43%
LIBOR FOR 12 MONTH DURATION: 2.81
GOFO = LIBOR - GOLD LENDING RATE
GOLD LENDING RATE = +.38
end