Thursday, October 06, 2016 1:07:12 AM
Just Stuff
MMgys
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Valid Gold Manipulation Lawsuit Damaging For Banks– GATA
By Kitco News
Wednesday October 05, 2016 15:16
(Kitco News) - The heat is being turning up on five banks accused of manipulating gold prices through the twice-daily London Fix after a New York judge says there is some validity behind a class action lawsuit.
A New York court has found some validity in a class action law suite alledging gold price manipulationWednesday, Kitco News Editor, Daniela Cambone received court documents from a source wishing to remain anonymous. The document contained the opinions of presiding Judge Valerie Caproni of the US District Court. In her conclusions Judge Caproni granted the plaintiffs’ claims of unlawful restraint of trade between Dec. 31, 2005 and Jan. 1, 2013 and the plaintiffs’ manipulative device claims.
However, she denied the plaintifs’ antitrust claims. She also dismissed all claims against global firm UBS, leaving The Bank of Nova Scotia, Barclays, Deutsche Bank, HSBC, and Societe Generale still facing manipulation allegations.
Judge Caproni said in her opinion that the plaintiffs "plausibly allege that each of the Fixing Banks acted recklessly in creating artificial price dynamics in the gold markets around the PM Fixing," .
While it is still early in the court case, one organization dedicated to exposing market manipulation said that this latest ruling is a step in the right direction.
In an email statement to Kitco News, Chris Powell, secretary treasurer for the Gold Anti-Trust Action Committee Inc. (GATA) said this finding, although not a ruling of market manipulation is still damaging to the bullion banks, “[I]t clears the way for discovery and deposition -- that is, clears the way for compelling the bullion banks to produce documentation and give testimony prior to trial.”
However, Powell added that he is skeptical that this case will ever go to trial.
“I have always suspected that if any market-manipulation lawsuit got past summary judgment dismissal, as this lawsuit apparently has done, the defendants would offer a lot of money to settle the lawsuit privately rather than give the world a look at their business practices,” he said.
Deutsche Bank already said that it was willing to settle its gold and silver manipulation lawsuits; however, Judge Caproni noted in her opinion that no motion for approval of the settlement has been presented to the court.
Powell also noted that the decision to allow the suite to move forward, “should awaken the monetary metals mining industry to the issue of gold market manipulation.”
http://www.kitco.com/news/2016-10-05/Valid-Gold-Manipulation-Lawsuit-Damaging-For-Banks-GATA.html
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The London Gold Float Estimates Updated
Tracking the gold held in London: An update on ETF and BoE holdings
"Just over a year ago, gold researchers Nick Laird, Bron Suchecki, Koos Jansen and myself took a shot at estimating how much physical gold was accounted for in London within the gold-backed ETFs and under Bank of England custody. The results of that exercise are highlighted in September 2015 articles “How many Good Delivery gold bars are in all the London Vaults?….including the Bank of England vaults”, and “Central Bank Gold at the Bank of England”, and also on Nick Laird’s website in a post titled “The London Float” which contains some very impressive charts that visualize the data. Some of the latest updated versions of these charts from www.goldchartsrus.com are featured below.
Given that its now just over a year since that last set of calculations, it made sense at this point to update the data so as to grasp how many Good Delivery golds bars held in London is spoken for in terms of ownership, versus how much may be unaccounted for. Estimating gold held in London vaults is by definition a tricky exercise, since it must rely on whatever data and statements are made available in what is a notoriously secret market, and there will usually be timing mismatches between the various data points. However, using a combination of published sources from the Bank of England, the London Bullion Market Association (LBMA), the Exchange Traded Fund websites, and UK gold import/export data, it is possible to produce some factual numbers."
Read the entire update by Ronan Manly here.
You should also have a look at The London Gold Float.
Oversold
Gold and silver remained under pressure from the early New York open today, falling to the hard support trendlines, and then bouncing back a bit into the close.
There was an intraday commentary that takes a look at the basic metals technical indicators which you can see here.
Gold deliveries on the Comex continued to be robust yesterday, with 757,100 ounces 'delivered' so far this month. Silver is sleepy on the Comex in October, but I have included that clearing report for you to see.
Gold and silver are obviously undergoing a 'flush' designed to knock down the number of longs in the open interest.
The reason for this is open for discussion, but as I have said it appears that the pressures on the physical market are bringing additional attention to the paper markets, with an eye towards discouraging a rush to take down bullion out of a highly leveraged market. And the holiday in China makes this all the more opportunistic now, rather than later.
Whatever the reasons for these things, gold and silver are both deeply oversold in the short term.
Non-Farm Payrolls Report on Friday, heading into a three day weekend in the States.
Let's see what happens.
Have a pleasant evening.
http://jessescrossroadscafe.blogspot.com/
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Gold & Silver MASSACRE! – Harvey Organ
Posted on October 5, 2016 by The Doc
Today was nothing but criminal activity with a massive drive by shooting…
Harvey Organ
Gold $1265.10 down $65.30
Silver 18.10 down 70 cents
THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON
The Shanghai fix is at 10:15 pm est and 2:15 am est
The fix for London is at 5:30 am est (first fix) and 10 am est (second fix)
Thus Shanghai’s second fix corresponds to 195 minutes before London’s first fix.
And now the fix recordings:
Shanghai morning fix Oct 3 (10:15 pm est last night): $ holiday
NY ACCESS PRICE: $
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ holiday
NY ACCESS PRICE:
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
London Fix: Sept 30: 5:30 am est: $1309.15 (NY: same time: $: 5:30AM)
London Second fix Sept 30: 10 am est: $1283.30 (NY same time: $xxx , 10 AM)
It seems that Shanghai pricing is higher than the other two , (NY and London). The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price. This should drain the comex.
Also why would mining companies hand in their gold to the comex and receive constantly lower prices. They would be open to lawsuits if they knowingly continue to supply the comex despite the fact that they could be receiving higher prices in Shanghai.
end
For comex gold:
the total number of notices filed today : 758 for 75,800 oz (2.35 tonnes)
For silver:
for the Oct contract month: 1 notices for 5,000 oz.
today was nothing but criminal activity with a massive drive by shooting. This is occurring because the regulators are on the side of the bankers. China is back tonight and will bring the price of gold/silver back to normal.
Buy 30 Gram Silver Panda Coins Online at SD Bullion
Let us have a look at the data for today
\
.
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In silver, the total open interest ROSE by 277 contracts UP to 201,977. The open interest ROSE as the silver price was down 43 cents in yesteray’s trading .In ounces, the OI is still represented by just MORE THAN 1 BILLION oz i.e. 1.0004 BILLION TO BE EXACT or 144% of annual global silver production (ex Russia &ex China).
In silver for October we had 1 notice served upon for 5,000 oz
In gold, the total comex gold FELL by 3,285 contracts as the price of gold fell by $4.30 yesterday . The total gold OI stands at 553,347 contracts. The bankers have done a great job fleecing longs and as usual the entire gold comex OI obliterates
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With respect to our two criminal funds, the GLD and the SLV:
GLD
LAST NIGHT WE HAD NO CHANGES OUT OF THE GLD//
Total gold inventory rests tonight at: 949.14 tonnes of gold
SLV
we had no changes at the SLV
THE SLV Inventory rests at: 362.909 million oz
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver ROSE by 277 contracts UP to 201,977 as the price of silver fell by 34 cents with yesterday’s trading.The gold open interest FELL by 5,989 contracts DOWN to 553,347 as the price of gold fell $4.30 IN YESTERDAY TRADING.
(report Harvey).
2.a) The Shanghai and London gold fix report
(Harvey)
2 b) Gold/silver trading overnight Europe, Goldcore
(Mark O’Byrne/zerohedge
and in NY: Bloomberg
end
http://www.silverdoctors.com/silver/silver-news/gold-silver-massacre-harvey-organ/#more-73161
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Breaking News And Best Of The Web
October 5, 2016
Stocks fall on renewed Deutsche Bank fears. Commerzbank to cut 9,600 jobs, suspend dividend. Wells Fargo draws abuse for consumer fraud. Capital outflows from Italian banks accelerate. Gold and silver down hard on stronger dollar. US GDP revised slightly higher, consumer spending softens. OPEC agrees to output cut, oil price jumps. Tax evasion becomes campaign issue. Post-debate polls give Clinton an edge. Wikileaks promises more Clinton emails.
Best Of The Web
Is Deutsche Bank the next Lehman? – McAlvany Weekly Commentary
Doubling down – Janus Capital
This is why US gov. deficit numbers are a BIG lie – Wolf Street
Michael Belkin interview – King World News
Weekly commentary: A take on Deutsche Bank – Credit Bubble Bulletin
IMF’s ‘substitution fund’ to kick-start SDR as new global currency? – CDFund
The banquet of consequences is being served – Peak Prosperity
Financial repression and a chronic unemployment problem – FRA
Structural growth and dope dealers on speed-dial – Hussman
26 incredible facts about the economy every American should know – Economic Collapse
How to suffocate your economy: Drown it in massive private debt – Evonomics
3 things: The Fed’s missed window & failed realization – Real Investment Advice
Hell to pay – Peak Prosperity
—————————————————————–
Breaking News
The Economy
10/05 U.S. private sector adds 154,000 jobs in September: ADP – Yahoo!
10/05 Detusche Bank, Lehman and the end-of-days debate – Bloomberg
10/05 Euro zone business growth at 21-month low in September – Reuters
10/05 Backlash to world economic order clouds outlook at IMF talks – Bloomberg
10/05 S&P: Speculative-grade default rates hit 6-year high – HighYieldBond.com
10/05 Famed investor: negative rates threaten to decimate banks – Bloomberg
10/05 Rescue of Italy’s Monte dei Paschi gets ‘dark’ & ‘complicated’ – Wolf Street
10/05 Italy’s first 50-year bond sale had huge demand – Business Insider
10/05 Pension bond “Halloween” madness – Mish
10/05 Stock buyback plans drop to 5 year low – Zero Hedge
10/05 Illinois renegotiates derivative deals as rating approaches junk – Bloomberg
10/05 Bank of Italy sees alternatives if sale of rescued banks flops – Reuters
10/05 Deutsche Bank needs a bail-in — here’s how it could be done – MarketWatch
10/05 For Crispin Odey this is the endgame – Zero Hedge
10/05 TARGET2 shows Europe’s banking crisis is escalating again – Zero Hedge
10/05 Subprime auto-loan backed securities turn toxic – Wolf Street
10/05 ING announces 7,000 job cuts as unions condemn ‘horror show’ – Guardian
10/04 Are US banks safer today than they were in 2008? – CNA Finance
10/04 Systemic risk: Deutsche Bank #1 at $100 billion – Financial Sense
Precious Metals
10/05 Gold buying ‘opportunity’ after surprise 3.4% drop – GoldCore
10/05 The demise of gold – Seeking Alpha
10/05 A massive dip in precious metals – no pain no gain – Seeking Alpha
10/05 How much gold and silver do you need for retirement? – Gold And Liberty
10/05 Five reasons for buying precious metals – APMEX
10/04 Gold: The end game & current headwinds – 321Gold
10/04 Gold down sharply to 3-month low on stronger dollar – CNBC
10/04 This will be the catalyst for higher gold prices – Kitco
10/04 Beware: Russia’s hoarding gold, not just nukes – Daily Reckoning
10/03 Precious metals versus stock market investing – APMEX
10/03 Why gold may be glittering to risk parity funds – Seeking Alpha
10/03 What is the COMEX? – APMEX
10/03 India’s gold imports drop for ninth month, GFMS says – GATA
10/03 GBP gold rises 1.3% as sterling slumps on ‘hard brexit’ concerns – GoldCore
10/03 Gold is ‘money’ because it is plentiful, not because it is scarce – 24hGold
10/03 Noonan’s last analysis of the gold & silver market – MunKnee
10/03 Silver way undervalued – 24hGold
10/03 Gold: Bulls have left the building, next stop $1,500 – Seeking Alpha
10/03 Gold and silver – Quarterly, monthly charts – Edge Trader Plus
10/02 Friday’s loss for gold pulls the metal down for the quarter – MarketWatch
10/02 Gold-mining investors hit by the jitters as share rally sputters – Bloomberg
Inflation, Deflation, Currency War, Cryptocurrencies
10/05 Pound sterling falls under July post-Brexit referendum low – CNBC
10/05 Rothbard on the glorious effects of falling prices – 24hGold
10/05 Sterling tumbles to 31-year low; oil up, stocks slip – Yahoo!
10/05 Negative interest rates until 2021? – Chris Ciovacco
10/05 Fiat currency: What it is, how it affects gold prices and its history – APMEX
10/05 The hyperinflationary death watch – Silver Coin Investor
10/04 The end of the dollar dominance? – Merk Funds
10/04 Is the US dollar set to soar? – Financial Sense
10/04 Interview with OECD’s William White – Financial Sense
10/04 Dollar’s recent strength will hit this coming earnings season – CNBC
10/04 Italy’s first 50-year bond heaps pressure on beleaguered market – Bloomberg
Real Estate Bubble
10/05 Manhattan aparment sales plunge 20% – Bloomberg
10/05 China’s southern megacities roll out measures to cool property market – Reuters
10/05 Sales of Manhattan’s cheaper apartments are way down – Fortune
10/03 As NYC rental prices drop, landlords offer more perks – Curbed
10/03 Singapore home prices slide by most in more than seven years – Bloomberg
DollarCollapse Podcasts
9/13 Markets explain facts of life to Fed
8/16 A tough time to manage money
7/27 Random violence and political instability: the new normal
7/21 It’s not the event but the response to the event that matters
7/01 Brexit was just the beginning
6/25 The deeper meaning of Brexit
6/08 Gold Will Soar, Marijuana Will Be Legal
5/23 Hard times for obsolete entities
5/14 Chaos spreads to US retailers and Italian banks
5/04 Easy money has failed; what’s next?
Politics
10/05 Clinton: I don’t recall joking about droning Julian Assange – Politico
10/05 Five takeaways from the vice presidential debate – The Hill
10/05 How Pence upstaged Kaine … and his boss, too – CNBC
10/05 Russian government gave millions to Clinton foundation – Free Beacon
10/05 Presidential temperament – Dilbert
10/05 Clinton foundation allegedly hacked: thousands of donor databases – Zero Hedge
10/04 Very awkward! Bernie Sanders struggles to defend Hillary Clinton – GOP
10/04 Hillary on WikiLeaks founder: “Can’t we just drone this guy?” – Mish
10/04 Post-debate, Clinton takes the lead – CNN
10/04 FBI agreed to destroy laptops of Clinton aides with immunity deal – Fox News
10/03 Hillary Clinton’s positive message? That was the plan, at least – New York Times
Offshore Investing
9/14 4 totally legal reasons to use an offshore structure – Nestmann
7/20 Costa Rica: Central America’s hidden gem – Sovereign Investor
7/08 Time to adjust your wealth plan – Mountain Vision
7/08 We pulled the ripcord on daily life and moved to Costa Rica – International Living
Clean Tech
10/04 Solar power on brink of huge boom, social research indicates – Clean Technica
10/04 Tesla tops estimates for 3Q deliveries – Yahoo!
10/03 Thailand gears up efforts on solar power – Nation Multimedia
10/01 What is the learning curve and what does it mean for alt energy? – UCSUSA
9/29 Ontario scraps 600MW of new wind – Wind Power
9/29 New wind turbines could power Japan for 50 years after single typhoon – Gizmodo
9/28 Surge in wind power output hits German spot – Reuters
9/27 Solar power cost down 25% in five months – Electrek
9/27 Talking mines and money with Rick Rule and Frank Holmes – Stockhouse
Art of the Collapse
10/03 Alec Baldwin’s Donald Trump impression on ‘Saturday Night Live’ – Washington Post
9/24 2016 debate preparation begins – Zero Hedge
9/14 Book review of Dave Stockman’s “Trumped!” – Mish
9/08 Daily Show dissects Trump’s attempts to win black votes – Huffington Post
9/03 Why you should enroll in the chartered central bank watcher – Zero Hedge
War, Civil Unrest, Privacy, Creeping Fascism, Police State
10/05 Russia delivers anti-aircraft missiles to Syria – Zero Hedge
10/05 Baghdad bridles at Turkey’s military presence, warns of ‘regional war’ – Reuters
10/05 At least 28 migrants dead off Libya: coastguard – France 24
10/05 John Oliver says police are held accountable less than we realize – Newsweek
10/05 Yahoo secretly scanned customer emails for US intelligence – CNBC
10/05 More than 6,000 migrants plucked from sea in a single day, 22 dead – Reuters
10/04 Award-winning documentary on the militarization of police – Business Insider
10/04 Erdogan extends state of emergency 90 days – Mish
Self-sufficiency, Food Security, Survival
10/05 Go bag essentials – Survival Sullivan
10/01 Infographic: Only 10 companies own all the world’s food brands – Good Food
9/30 How to make your own toothpaste – Peak Prosperity
9/29 What are doctors and patients going to do? – Dr. Sircus
9/28 China wants GMOs. The Chinese people don’t – Bloomberg
9/27 Bayer and Monsanto – 2 destructive behemoths become 1 – Mercola
CyberWar, CyberTerrorism, CyberCrime
10/02 So now we have a federal CISO – Tech Crunch
9/28 Russian hackers breached democrats’ cell phones: FBI – Zero Hedge
9/25 Is the Yahoo hack evidence of an international cyberwar? – SCPR
Off-Topic But Brilliant/Challenging/Infuriating
10/05 ‘Great Pacific garbage patch’ far bigger than imagined – Guardian
10/05 “Pope Francis:” Traitor to western civilization – Antonius Aquinas
10/05 9 dead as hurricane Matthew hammers Haiti – Zero Hedge
10/05 Here’s everything Google announced today – Wired
10/04 Bid for strongest protection for all African elephants defeated – Guardian
10/04 FL, NC declare state of emergency for Hurricane Matthew – Zero Hedge
10/03 Fukushima radiation has contaminated the entire Pacific Ocean – Zero Hedge
10/02 Elephants have learned to avoid poachers by hanging out with rangers – Konbini
10/02 Bees added to US endangered species list for the first time – Guardian
10/02 Suburban technology should die a deserved death – Daily Bell
10/01 Sex robot cafe offers Londoners fellatio with morning coffee – RT
all above links found here http://dollarcollapse.com/breaking-news/breaking-news/
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MMgys
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MMgys
Good Morning !
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Valid Gold Manipulation Lawsuit Damaging For Banks– GATA
By Kitco News
Wednesday October 05, 2016 15:16
(Kitco News) - The heat is being turning up on five banks accused of manipulating gold prices through the twice-daily London Fix after a New York judge says there is some validity behind a class action lawsuit.
A New York court has found some validity in a class action law suite alledging gold price manipulationWednesday, Kitco News Editor, Daniela Cambone received court documents from a source wishing to remain anonymous. The document contained the opinions of presiding Judge Valerie Caproni of the US District Court. In her conclusions Judge Caproni granted the plaintiffs’ claims of unlawful restraint of trade between Dec. 31, 2005 and Jan. 1, 2013 and the plaintiffs’ manipulative device claims.
However, she denied the plaintifs’ antitrust claims. She also dismissed all claims against global firm UBS, leaving The Bank of Nova Scotia, Barclays, Deutsche Bank, HSBC, and Societe Generale still facing manipulation allegations.
Judge Caproni said in her opinion that the plaintiffs "plausibly allege that each of the Fixing Banks acted recklessly in creating artificial price dynamics in the gold markets around the PM Fixing," .
While it is still early in the court case, one organization dedicated to exposing market manipulation said that this latest ruling is a step in the right direction.
In an email statement to Kitco News, Chris Powell, secretary treasurer for the Gold Anti-Trust Action Committee Inc. (GATA) said this finding, although not a ruling of market manipulation is still damaging to the bullion banks, “[I]t clears the way for discovery and deposition -- that is, clears the way for compelling the bullion banks to produce documentation and give testimony prior to trial.”
However, Powell added that he is skeptical that this case will ever go to trial.
“I have always suspected that if any market-manipulation lawsuit got past summary judgment dismissal, as this lawsuit apparently has done, the defendants would offer a lot of money to settle the lawsuit privately rather than give the world a look at their business practices,” he said.
Deutsche Bank already said that it was willing to settle its gold and silver manipulation lawsuits; however, Judge Caproni noted in her opinion that no motion for approval of the settlement has been presented to the court.
Powell also noted that the decision to allow the suite to move forward, “should awaken the monetary metals mining industry to the issue of gold market manipulation.”
http://www.kitco.com/news/2016-10-05/Valid-Gold-Manipulation-Lawsuit-Damaging-For-Banks-GATA.html
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The London Gold Float Estimates Updated
Tracking the gold held in London: An update on ETF and BoE holdings
"Just over a year ago, gold researchers Nick Laird, Bron Suchecki, Koos Jansen and myself took a shot at estimating how much physical gold was accounted for in London within the gold-backed ETFs and under Bank of England custody. The results of that exercise are highlighted in September 2015 articles “How many Good Delivery gold bars are in all the London Vaults?….including the Bank of England vaults”, and “Central Bank Gold at the Bank of England”, and also on Nick Laird’s website in a post titled “The London Float” which contains some very impressive charts that visualize the data. Some of the latest updated versions of these charts from www.goldchartsrus.com are featured below.
Given that its now just over a year since that last set of calculations, it made sense at this point to update the data so as to grasp how many Good Delivery golds bars held in London is spoken for in terms of ownership, versus how much may be unaccounted for. Estimating gold held in London vaults is by definition a tricky exercise, since it must rely on whatever data and statements are made available in what is a notoriously secret market, and there will usually be timing mismatches between the various data points. However, using a combination of published sources from the Bank of England, the London Bullion Market Association (LBMA), the Exchange Traded Fund websites, and UK gold import/export data, it is possible to produce some factual numbers."
Read the entire update by Ronan Manly here.
You should also have a look at The London Gold Float.
Oversold
Gold and silver remained under pressure from the early New York open today, falling to the hard support trendlines, and then bouncing back a bit into the close.
There was an intraday commentary that takes a look at the basic metals technical indicators which you can see here.
Gold deliveries on the Comex continued to be robust yesterday, with 757,100 ounces 'delivered' so far this month. Silver is sleepy on the Comex in October, but I have included that clearing report for you to see.
Gold and silver are obviously undergoing a 'flush' designed to knock down the number of longs in the open interest.
The reason for this is open for discussion, but as I have said it appears that the pressures on the physical market are bringing additional attention to the paper markets, with an eye towards discouraging a rush to take down bullion out of a highly leveraged market. And the holiday in China makes this all the more opportunistic now, rather than later.
Whatever the reasons for these things, gold and silver are both deeply oversold in the short term.
Non-Farm Payrolls Report on Friday, heading into a three day weekend in the States.
Let's see what happens.
Have a pleasant evening.
http://jessescrossroadscafe.blogspot.com/
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Gold & Silver MASSACRE! – Harvey Organ
Posted on October 5, 2016 by The Doc
Today was nothing but criminal activity with a massive drive by shooting…
Harvey Organ
Gold $1265.10 down $65.30
Silver 18.10 down 70 cents
THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON
The Shanghai fix is at 10:15 pm est and 2:15 am est
The fix for London is at 5:30 am est (first fix) and 10 am est (second fix)
Thus Shanghai’s second fix corresponds to 195 minutes before London’s first fix.
And now the fix recordings:
Shanghai morning fix Oct 3 (10:15 pm est last night): $ holiday
NY ACCESS PRICE: $
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ holiday
NY ACCESS PRICE:
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
London Fix: Sept 30: 5:30 am est: $1309.15 (NY: same time: $: 5:30AM)
London Second fix Sept 30: 10 am est: $1283.30 (NY same time: $xxx , 10 AM)
It seems that Shanghai pricing is higher than the other two , (NY and London). The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price. This should drain the comex.
Also why would mining companies hand in their gold to the comex and receive constantly lower prices. They would be open to lawsuits if they knowingly continue to supply the comex despite the fact that they could be receiving higher prices in Shanghai.
end
For comex gold:
the total number of notices filed today : 758 for 75,800 oz (2.35 tonnes)
For silver:
for the Oct contract month: 1 notices for 5,000 oz.
today was nothing but criminal activity with a massive drive by shooting. This is occurring because the regulators are on the side of the bankers. China is back tonight and will bring the price of gold/silver back to normal.
Buy 30 Gram Silver Panda Coins Online at SD Bullion
Let us have a look at the data for today
\
.
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In silver, the total open interest ROSE by 277 contracts UP to 201,977. The open interest ROSE as the silver price was down 43 cents in yesteray’s trading .In ounces, the OI is still represented by just MORE THAN 1 BILLION oz i.e. 1.0004 BILLION TO BE EXACT or 144% of annual global silver production (ex Russia &ex China).
In silver for October we had 1 notice served upon for 5,000 oz
In gold, the total comex gold FELL by 3,285 contracts as the price of gold fell by $4.30 yesterday . The total gold OI stands at 553,347 contracts. The bankers have done a great job fleecing longs and as usual the entire gold comex OI obliterates
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With respect to our two criminal funds, the GLD and the SLV:
GLD
LAST NIGHT WE HAD NO CHANGES OUT OF THE GLD//
Total gold inventory rests tonight at: 949.14 tonnes of gold
SLV
we had no changes at the SLV
THE SLV Inventory rests at: 362.909 million oz
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver ROSE by 277 contracts UP to 201,977 as the price of silver fell by 34 cents with yesterday’s trading.The gold open interest FELL by 5,989 contracts DOWN to 553,347 as the price of gold fell $4.30 IN YESTERDAY TRADING.
(report Harvey).
2.a) The Shanghai and London gold fix report
(Harvey)
2 b) Gold/silver trading overnight Europe, Goldcore
(Mark O’Byrne/zerohedge
and in NY: Bloomberg
end
http://www.silverdoctors.com/silver/silver-news/gold-silver-massacre-harvey-organ/#more-73161
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Breaking News And Best Of The Web
October 5, 2016
Stocks fall on renewed Deutsche Bank fears. Commerzbank to cut 9,600 jobs, suspend dividend. Wells Fargo draws abuse for consumer fraud. Capital outflows from Italian banks accelerate. Gold and silver down hard on stronger dollar. US GDP revised slightly higher, consumer spending softens. OPEC agrees to output cut, oil price jumps. Tax evasion becomes campaign issue. Post-debate polls give Clinton an edge. Wikileaks promises more Clinton emails.
Best Of The Web
Is Deutsche Bank the next Lehman? – McAlvany Weekly Commentary
Doubling down – Janus Capital
This is why US gov. deficit numbers are a BIG lie – Wolf Street
Michael Belkin interview – King World News
Weekly commentary: A take on Deutsche Bank – Credit Bubble Bulletin
IMF’s ‘substitution fund’ to kick-start SDR as new global currency? – CDFund
The banquet of consequences is being served – Peak Prosperity
Financial repression and a chronic unemployment problem – FRA
Structural growth and dope dealers on speed-dial – Hussman
26 incredible facts about the economy every American should know – Economic Collapse
How to suffocate your economy: Drown it in massive private debt – Evonomics
3 things: The Fed’s missed window & failed realization – Real Investment Advice
Hell to pay – Peak Prosperity
—————————————————————–
Breaking News
The Economy
10/05 U.S. private sector adds 154,000 jobs in September: ADP – Yahoo!
10/05 Detusche Bank, Lehman and the end-of-days debate – Bloomberg
10/05 Euro zone business growth at 21-month low in September – Reuters
10/05 Backlash to world economic order clouds outlook at IMF talks – Bloomberg
10/05 S&P: Speculative-grade default rates hit 6-year high – HighYieldBond.com
10/05 Famed investor: negative rates threaten to decimate banks – Bloomberg
10/05 Rescue of Italy’s Monte dei Paschi gets ‘dark’ & ‘complicated’ – Wolf Street
10/05 Italy’s first 50-year bond sale had huge demand – Business Insider
10/05 Pension bond “Halloween” madness – Mish
10/05 Stock buyback plans drop to 5 year low – Zero Hedge
10/05 Illinois renegotiates derivative deals as rating approaches junk – Bloomberg
10/05 Bank of Italy sees alternatives if sale of rescued banks flops – Reuters
10/05 Deutsche Bank needs a bail-in — here’s how it could be done – MarketWatch
10/05 For Crispin Odey this is the endgame – Zero Hedge
10/05 TARGET2 shows Europe’s banking crisis is escalating again – Zero Hedge
10/05 Subprime auto-loan backed securities turn toxic – Wolf Street
10/05 ING announces 7,000 job cuts as unions condemn ‘horror show’ – Guardian
10/04 Are US banks safer today than they were in 2008? – CNA Finance
10/04 Systemic risk: Deutsche Bank #1 at $100 billion – Financial Sense
Precious Metals
10/05 Gold buying ‘opportunity’ after surprise 3.4% drop – GoldCore
10/05 The demise of gold – Seeking Alpha
10/05 A massive dip in precious metals – no pain no gain – Seeking Alpha
10/05 How much gold and silver do you need for retirement? – Gold And Liberty
10/05 Five reasons for buying precious metals – APMEX
10/04 Gold: The end game & current headwinds – 321Gold
10/04 Gold down sharply to 3-month low on stronger dollar – CNBC
10/04 This will be the catalyst for higher gold prices – Kitco
10/04 Beware: Russia’s hoarding gold, not just nukes – Daily Reckoning
10/03 Precious metals versus stock market investing – APMEX
10/03 Why gold may be glittering to risk parity funds – Seeking Alpha
10/03 What is the COMEX? – APMEX
10/03 India’s gold imports drop for ninth month, GFMS says – GATA
10/03 GBP gold rises 1.3% as sterling slumps on ‘hard brexit’ concerns – GoldCore
10/03 Gold is ‘money’ because it is plentiful, not because it is scarce – 24hGold
10/03 Noonan’s last analysis of the gold & silver market – MunKnee
10/03 Silver way undervalued – 24hGold
10/03 Gold: Bulls have left the building, next stop $1,500 – Seeking Alpha
10/03 Gold and silver – Quarterly, monthly charts – Edge Trader Plus
10/02 Friday’s loss for gold pulls the metal down for the quarter – MarketWatch
10/02 Gold-mining investors hit by the jitters as share rally sputters – Bloomberg
Inflation, Deflation, Currency War, Cryptocurrencies
10/05 Pound sterling falls under July post-Brexit referendum low – CNBC
10/05 Rothbard on the glorious effects of falling prices – 24hGold
10/05 Sterling tumbles to 31-year low; oil up, stocks slip – Yahoo!
10/05 Negative interest rates until 2021? – Chris Ciovacco
10/05 Fiat currency: What it is, how it affects gold prices and its history – APMEX
10/05 The hyperinflationary death watch – Silver Coin Investor
10/04 The end of the dollar dominance? – Merk Funds
10/04 Is the US dollar set to soar? – Financial Sense
10/04 Interview with OECD’s William White – Financial Sense
10/04 Dollar’s recent strength will hit this coming earnings season – CNBC
10/04 Italy’s first 50-year bond heaps pressure on beleaguered market – Bloomberg
Real Estate Bubble
10/05 Manhattan aparment sales plunge 20% – Bloomberg
10/05 China’s southern megacities roll out measures to cool property market – Reuters
10/05 Sales of Manhattan’s cheaper apartments are way down – Fortune
10/03 As NYC rental prices drop, landlords offer more perks – Curbed
10/03 Singapore home prices slide by most in more than seven years – Bloomberg
DollarCollapse Podcasts
9/13 Markets explain facts of life to Fed
8/16 A tough time to manage money
7/27 Random violence and political instability: the new normal
7/21 It’s not the event but the response to the event that matters
7/01 Brexit was just the beginning
6/25 The deeper meaning of Brexit
6/08 Gold Will Soar, Marijuana Will Be Legal
5/23 Hard times for obsolete entities
5/14 Chaos spreads to US retailers and Italian banks
5/04 Easy money has failed; what’s next?
Politics
10/05 Clinton: I don’t recall joking about droning Julian Assange – Politico
10/05 Five takeaways from the vice presidential debate – The Hill
10/05 How Pence upstaged Kaine … and his boss, too – CNBC
10/05 Russian government gave millions to Clinton foundation – Free Beacon
10/05 Presidential temperament – Dilbert
10/05 Clinton foundation allegedly hacked: thousands of donor databases – Zero Hedge
10/04 Very awkward! Bernie Sanders struggles to defend Hillary Clinton – GOP
10/04 Hillary on WikiLeaks founder: “Can’t we just drone this guy?” – Mish
10/04 Post-debate, Clinton takes the lead – CNN
10/04 FBI agreed to destroy laptops of Clinton aides with immunity deal – Fox News
10/03 Hillary Clinton’s positive message? That was the plan, at least – New York Times
Offshore Investing
9/14 4 totally legal reasons to use an offshore structure – Nestmann
7/20 Costa Rica: Central America’s hidden gem – Sovereign Investor
7/08 Time to adjust your wealth plan – Mountain Vision
7/08 We pulled the ripcord on daily life and moved to Costa Rica – International Living
Clean Tech
10/04 Solar power on brink of huge boom, social research indicates – Clean Technica
10/04 Tesla tops estimates for 3Q deliveries – Yahoo!
10/03 Thailand gears up efforts on solar power – Nation Multimedia
10/01 What is the learning curve and what does it mean for alt energy? – UCSUSA
9/29 Ontario scraps 600MW of new wind – Wind Power
9/29 New wind turbines could power Japan for 50 years after single typhoon – Gizmodo
9/28 Surge in wind power output hits German spot – Reuters
9/27 Solar power cost down 25% in five months – Electrek
9/27 Talking mines and money with Rick Rule and Frank Holmes – Stockhouse
Art of the Collapse
10/03 Alec Baldwin’s Donald Trump impression on ‘Saturday Night Live’ – Washington Post
9/24 2016 debate preparation begins – Zero Hedge
9/14 Book review of Dave Stockman’s “Trumped!” – Mish
9/08 Daily Show dissects Trump’s attempts to win black votes – Huffington Post
9/03 Why you should enroll in the chartered central bank watcher – Zero Hedge
War, Civil Unrest, Privacy, Creeping Fascism, Police State
10/05 Russia delivers anti-aircraft missiles to Syria – Zero Hedge
10/05 Baghdad bridles at Turkey’s military presence, warns of ‘regional war’ – Reuters
10/05 At least 28 migrants dead off Libya: coastguard – France 24
10/05 John Oliver says police are held accountable less than we realize – Newsweek
10/05 Yahoo secretly scanned customer emails for US intelligence – CNBC
10/05 More than 6,000 migrants plucked from sea in a single day, 22 dead – Reuters
10/04 Award-winning documentary on the militarization of police – Business Insider
10/04 Erdogan extends state of emergency 90 days – Mish
Self-sufficiency, Food Security, Survival
10/05 Go bag essentials – Survival Sullivan
10/01 Infographic: Only 10 companies own all the world’s food brands – Good Food
9/30 How to make your own toothpaste – Peak Prosperity
9/29 What are doctors and patients going to do? – Dr. Sircus
9/28 China wants GMOs. The Chinese people don’t – Bloomberg
9/27 Bayer and Monsanto – 2 destructive behemoths become 1 – Mercola
CyberWar, CyberTerrorism, CyberCrime
10/02 So now we have a federal CISO – Tech Crunch
9/28 Russian hackers breached democrats’ cell phones: FBI – Zero Hedge
9/25 Is the Yahoo hack evidence of an international cyberwar? – SCPR
Off-Topic But Brilliant/Challenging/Infuriating
10/05 ‘Great Pacific garbage patch’ far bigger than imagined – Guardian
10/05 “Pope Francis:” Traitor to western civilization – Antonius Aquinas
10/05 9 dead as hurricane Matthew hammers Haiti – Zero Hedge
10/05 Here’s everything Google announced today – Wired
10/04 Bid for strongest protection for all African elephants defeated – Guardian
10/04 FL, NC declare state of emergency for Hurricane Matthew – Zero Hedge
10/03 Fukushima radiation has contaminated the entire Pacific Ocean – Zero Hedge
10/02 Elephants have learned to avoid poachers by hanging out with rangers – Konbini
10/02 Bees added to US endangered species list for the first time – Guardian
10/02 Suburban technology should die a deserved death – Daily Bell
10/01 Sex robot cafe offers Londoners fellatio with morning coffee – RT
all above links found here http://dollarcollapse.com/breaking-news/breaking-news/
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MMgys
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