Monday, January 09, 2017 11:43:03 PM
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Yuan Shorts Are Being Squeezed! | Harvey Organ
Posted on January 9, 2017 by The Doc
SHORTS ON THE CHINESE YUAN ARE BEING SQUEEZED…
LACKLUSTER JOBS REPORT FROM THE USA/AS USUAL GOLD AND SILVER WHACKED WITH THE JOB REPORT/JAPAN ANGRY AT TRUMP WITH THE REPORT THAT THE PRESIDENT ELECT ORDERED TOYOTA NOT TO BUILD THE COROLLA IN MEXICO/OVERNIGHT LENDING IN CHINA OVER 105%/SHORTS ON THE CHINESE YUAN ARE BEING SQUEEZED/THE CENTRAL BANK OF MEXICO INTERVENES TRYING TO STEM THE LOSS OF THE PESO BUT FAILS/FIRST MAJESTIC SILVER JOINS OUR CLASS ACTION LAWSUIT AGAINST THE BANKERS:
Gold at (1:30 am est) $1171.90 DOWN $7.80
silver at $16.46: DOWN 12 cents
Access market prices:
Gold: $1177.40
Silver: $16.52
THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON
The Shanghai fix is at 10:15 pm est last night and 2:15 am est early this morning
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:
FRIDAY gold fix Shanghai
Shanghai morning fix Jan 6/17 (10:15 pm est last night): $ 1196.45
NY ACCESS PRICE: $1179.10 (AT THE EXACT SAME TIME)/premium $17.35
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ 1191.97
NY ACCESS PRICE: $1174.30 (AT THE EXACT SAME TIME/2:15 am)
HUGE SPREAD 2ND FIX TODAY!!: $17.67
China rejects NY pricing of gold as a fraud/arbitrage will now commence fully
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
London Fix: Jan 6/2017: 5:30 am est: $.1174.20 (NY: same time: $1178.40 5:30AM)
London Second fix Jan 6.2017: 10 am est: $1175.85 (NY same time: $1176.60 (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:
NOTICES FILINGS FOR JANUARY CONTRACT MONTH: 0 NOTICE(S) FOR nil OZ. TOTAL NOTICES SO FAR: 1023 FOR 102,300 OZ (3.1819 TONNES)
For silver:
NOTICES FOR JANUARY CONTRACT MONTH FOR SILVER: 0 NOTICE(s) FOR 0 OZ. TOTAL NUMBER OF NOTICES FILED SO FAR; 307 FOR 1,535,000 OZ
Let us have a look at the data for today
.
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In silver, the total open interest ROSE by 1172 contracts UP to 165,537 with respect to YESTERDAY’S TRADING (short covering by the banks). In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. .828 BILLION TO BE EXACT or 118% of annual global silver production (ex Russia & ex China).
FOR THE JANUARY FRONT MONTH IN SILVER: 0 NOTICES FILED FOR 0 OZ.
In gold, the total comex gold ROSE BY 8,215 contracts WITH THE RISE IN THE PRICE GOLD ($15.90 with YESTERDAY’S trading ). The total gold OI stands at 431,537 contracts.
we had 0 notice(s) filed upon for 0 oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD:
We had no changes in tonnes of gold at the GLD
Inventory rests tonight: 813.87 tonnes
.
SLV
we had no changes in silver into the SLV
THE SLV Inventory rests at: 341.199 million oz
First, here is an outline of what will be discussed tonight: Preliminary data
1. Today, we had the open interest in silver ROSE by 1172 contracts UP to 165,537 AS SILVER ROSE by $0.08 with YESTERDAY’S trading. The gold open interest ROSE by 8,215 contracts UP to 431,823 AS THE PRICE OF GOLD ROSE BY $15.90 WITH YESTERDAY’S 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
2c) FRBNY report on earmarked gold movement
(Harvey)
2d) COT report
Harvey
3. ASIAN AFFAIRS
i)Late THURSDAY night/FRIDAY morning: Shanghai closed DOWN 11.09 POINTS OR 0.35%/ /Hang Sang closed UP 46.32 OR 0.21%. The Nikkei closed DOWN 66.32 POINTS OR 0.34% /Australia’s all ordinaires CLOSED UP 0.07%/Chinese yuan (ONSHORE) closed WELL DOWN at 6.9180/Oil ROSE to 54.17 dollars per barrel for WTI and 56.77 for Brent. Stocks in Europe: ALL IN THE RED. Offshore yuan trades 6.83161 yuan to the dollar vs 6.9180 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS COMPLETELY TRYING TO STOP DOLLARS LEAVING CHINA’S SHORES /
REPORT ON JAPAN SOUTH KOREA NORTH KOREA AND CHINA
3a)THAILAND/SOUTH KOREA
none today
b) REPORT ON JAPAN
Japan is angry at Trump especially that he got the facts on Japanese production of the Corolla wrong. Let us see what will happen in a few weeks when Trump takes over:
( zero hedge)
c) REPORT ON CHINA
i)Overnight the lending rate between banks soars to 105%. The offshore yuan (CHN ) continues its strength with POBC intervention as the shorts are getting squeezed:
( zero hedge)
ii)Chinese volatility explodes as the offshore yuan goes all over the map. The POBC are very worried about the new Trump administration labeling the country as a currency manipulator and they may wish to keep a stronger yuan in the following few weeks. Also the yuan shorts are temporarily getting killed. However in the long run, the yuan should retreat to the 7.3-8.0 level
( zero hedge)
iii)After China warns its citizens on capital outflowing from China, today they came out and warns more directly against Bitcoin. They urged its citizenry to take a rational approach to investing in virtual currencies. It lowered in value immediately but gold rose.
( zero hedge)
4 EUROPEAN AFFAIRS
How European immigration, mainly Muslims are creating problems for the politicians in Europe. In order to deflect attention, government impose bans of the burka.
( Murray/Gatestone Institute)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
none today
6.GLOBAL ISSUES
The Central bank of Mexico intervenes in the currency market trying to prop up the Peso but failed again. It seems that they sold a considerable amount of silver in their failed attempt. Is there something under the hood in the Mexican economy that we should be cognizant about:
( zero hedge)
7. OIL ISSUES
i)Back in April we reported on a huge amount of oil Iran was storing on vessels because of no room on land. We now now that 13 million barrels of oil held offshore has been sold mainly to China and other Asian interests and at discounts. Iran needs to get its market share back. The question now becomes will Saudi Arabia offer more discounts and/or cheat on its production!
( zero hedge)
ii)do not worry, the crooks have this under control as they are long oil. USA oil rig counts continue to rise as well as total USA production. OIl prices continue to rise:
(/zero hedge)
8. EMERGING MARKETS
A good snapshot of Venezuela’s finances. The author claims that the country still has 190 tonnes of gold. I find that hard to believe:
(courtesy Mueller/Mises Institute)
9. PHYSICAL MARKETS
i)An excellent Reuters report on the huge risks to the global economy as China burns through its foreign FX reserves. It is probably now below 3 trillion USA
( Reuters/GATA)
ii)A good background on China’s secretive gold reserves
(Ronan Manly/GATA)
iii)Alasdair Macleod’s weekly message for us;
( Alasdair Macleod)
iv)An excellent presentation by Koos Jansen on gold fundamentals between East and West
(Koos Jansen/Bullionstar)
v)Despite its manipulation gold advances against most currencies in the past 15 years
( Goldprice.org/GATA)
10.USA STORIES
i)Another phony jobs report. The BLS reports a gain of only 156,000 workers instead of the expected 178,000. However average earnings jumped .4% in December.
( BLS/zerohedge)
ii)Now for the real story on the jobs report:
the total number of people not in the labour force grew again rising by 18,000 poor souls. The total for the past 3 months was a whopping 841,000. Thus 95. 102 million Americans are now longer in the labour force. There are 152 million people in the labour force of a total citizens of working age: 255 million: thus a participation rate of 62.7%
( zero hedge)
iii)Only the supervisory level jobs saw growth in the earnings not the vast majority of American workers:
( zero hedge)
iv)What a complete utter nonsense: we had a huge increase again in waiter jobs (plus nurses and waste cleaners). We know the job report on the waiters is false because of massive layoffs in that field due to Obamacare, and health care costs that I brought to your attention in the past few days)( zero hedge)
v)a very ugly number: November factory orders plunge the most in over 2 years. And this is after a big rise in defense factory orders:
( zero hedge)
vi) a.What on earth is going on: The democrats refused FBI access to their hacked servers and then the FBI claim that Russians hacked their system without the access to those servers?
Give me a break..
( zero hedge)
vi) b. And now the report: what a joke!! No proof whatsoever on the Russian hacking
( zero hedge)
vii) Dave Kranzler reports on a true state of affairs with respect to the USA auto industry, the restaurant industry and on the consumer.
This should pour gasoline on the real jobs report issued today
( Dave Kranzler/IRD)
viii)The TIC report: the trade deficit increased because of the high USA dollar. Exports fell because of the high dollar while imports rose due to the same factor
( TIC/zerohedge)
Federal Reserve Bank of New York:
Earmarked gold movements
December report:
Last Oct/2016 we had 7,841 million dollars worth “gold” in inventory at the FRBNY
valued at $42.22 per oz
Last November/2016 we had 7,841 million dollars worth of gold in inventory at FRBNY valued at $42.22 per oz
thus 0 oz moved at $42.22
So far officially, the following has been repatriated to BuBa from NY:
2013: 5 tonnes
2014: 120 tonnes
2015: 99.5 tonnes
2016: to be officially announced
Their total quota from NY is scheduled to be 300 tonnes and another 374 tonnes from Paris of which 177 tonnes of gold has officially been sent (Dec 2015) and thus another 197 tonnes to cross the English channel.
Germany has officially 1237 tonnes of gold “stored ” in NY. On conclusion of the repatriation, Paris will have 0 stored there.
end
Let us head over to the comex:
The total gold comex open interest ROSE BY 8,215 CONTRACTS UP to an OI level of 431,823 AS THE PRICE OF GOLD ROSE $15.90 with YESTERDAY’S trading. We are now in the contract month of JANUARY and it is one of the poorest deliveries of the year.
With the front month of January we had a GAIN of 17 contracts UP to 170. We had 13 notices filed so we GAINED 30 contracts or AN ADDITIONAL 3000 oz WILL STAND for gold in this non active delivery month of January. For the next big active delivery month of February we had a GAIN of 1,730 contracts UP to 277,267. March had a gain of 80 contracts as it’s OI is now 276.
We had 0 notice(s) filed upon today for nil oz
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And now for the wild silver comex results. Total silver OI ROSE by 1172 contracts FROM 164,365 UP TO 165,537 AS the price of silver ROSE BY $0.08 with YESTERDAY’S trading. We are moving further from the all time record high for silver open interest set on Wednesday August 3/2016: (224,540).
We are now in the non active delivery month of January and here the OI FELL by 111 contracts FALLING TO 355. We had 110 notice(s) filed on yesterday so we LOST 1 CONTRACT or an additional 5,000 oz will NOT stand for delivery. The next non active month of February saw the OI rise by 40 contract(s) up to 204.
The next big active delivery month is March and here the OI rose by 548 contracts UP to 134,337 contracts.
We had 0 notice(s) filed for 0 oz for the January contract.
VOLUMES: for the gold comex
Today the estimated volume was 232,980 contracts which is good.
Yesterday’s confirmed volume was 299,421 contracts which is very good
Initial standings for january
Jan 6/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
8037.500
SCOTIA
250 kilobars
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
nil
No of oz served (contracts) today
0 notice(s)
nil oz
No of oz to be served (notices)
170 contracts
17,000 oz
Total monthly oz gold served (contracts) so far this month
1023 notices
102,300 oz
3.1819 tonnes
Total accumulative withdrawals of gold from the Dealers inventory this month nil oz
Total accumulative withdrawal of gold from the Customer inventory this month 4,547,053.2 oz
Today we HAD 1 kilobar transactions/
Today we had 0 deposit(s) into the dealer:
total dealer deposits: nil oz
We had nil dealer withdrawals:
total dealer withdrawals: nil oz
we had 0 customer deposit(s):
total customer deposits; nil oz
We had 1 customer withdrawal(s)
i) Out of Scotia: 8037.5 oz
(250 kilobars)
total customer withdrawal: 8037.500 oz
We had 0 adjustment(s)
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For January:
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 0 contract(s) of which 0 notices were stopped (received) by jPMorgan dealer and 0 notice(s) was (were) stopped/ Received) by jPMorgan customer account.
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To calculate the initial total number of gold ounces standing for the JANUARY. contract month, we take the total number of notices filed so far for the month (1023) x 100 oz or 101,000 oz, to which we add the difference between the open interest for the front month of JANUARY (170 contracts) minus the number of notices served upon today (0) x 100 oz per contract equals 119,300 oz, the number of ounces standing in this non active month of JANUARY.
Thus the INITIAL standings for gold for the JANUARY contract month:
No of notices served so far (1023) x 100 oz or ounces + {OI for the front month (170) minus the number of notices served upon today (0) x 100 oz which equals 119,300 oz standing in this non active delivery month of JANUARY (3.7107 tonnes)
On first day notice for January 2016, we had .9642 tonnes of gold standing. At the conclusion of the month we had only .5349 tonnes standing so you can visualize the increasing demand for physical gold a t the comex.
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I have now gone over all of the final deliveries for this year and it is startling.
First of all: in 2015 for the 13 months: 51 tonnes delivered upon for an average of 4.25 tonnes per month.
Here are the final deliveries for all of 2016 and the first month of January 2017
Jan 2016: .5349 tonnes (Jan is a non delivery month)
Feb 2015: 7.9876 tonnes (Feb is a delivery month/deliveries this month very low)
March 2015: 2.311 tonnes (March is a non delivery month)
April: 12.3917 tonnes (April is a delivery month/levels on the low side
And then something happens and from May forward deliveries boom!
May; 6.889 tonnes (May is a non delivery month)
June; 48.552 tonnes ( June is a very big delivery month and in the end deliveries were huge)
July: 21.452 tonnes (July is a non delivery month and generally a poor one/not this time!)
August: 44.358 tonnes (August is a good delivery month and it came to fruition)
Sept: 8.4167 tonnes (Sept is a non delivery month)
Oct; 30.407 tonnes complete.
Nov. 8.3950 tonnes.
DEC. 29.931 tonnes
JAN/ 3.7197 tonnes
total for the 13 months; 226.111 tonnes
average 17.393 tonnes per month vs last yr 51.534 tonnes total for 13 months or 3.964 tonnes average per month.
Total dealer inventor 1,561,744.896 or 48.556 tonnes DEALER RAPIDLY LOSING GOLD
Total gold inventory (dealer and customer) = 9,109,848.073 or 283.35 tonnes
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 283.35 tonnes for a loss of 20 tonnes over that period. Since August 8/2016 we have lost 71 tonnes leaving the comex. However I am including kilobar transactions and they are very suspect at best
I have a sneaky feeling that these withdrawals of gold in kilobars are being used in the hypothecating process and are being used in the raiding of gold!
The gold comex is an absolute fraud. The use of kilobars and exact weights makes the data totally absurd and fraudulent! To me, the only thing that makes sense is the fact that “kilobars: are entries of hypothecated gold sent to other jurisdictions so that they will not be short with their underwritten derivatives in that jurisdiction. This would be similar to the rehypothecated gold used by Jon Corzine at MF Global.
IN THE LAST 4 1/2 MONTHS 71 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE DECEMBER DELIVERY MONTH
JANUARY INITIAL standings
Jan 6. 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
2,126,813.02 0z
Scotia
CNT
JPM
Deposits to the Dealer Inventory
nil
Deposits to the Customer Inventory
1,081,872.270 oz
SCOTIA
JPM
Scotia
No of oz served today (contracts)
0 CONTRACT(S)
(0 OZ)
No of oz to be served (notices)
355 contracts
(1,775,000 oz)
Total monthly oz silver served (contracts) 307 contracts (1,535,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this month NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month 8,890,931.1 oz
END
today, we had 0 deposit(s) into the dealer account:
total dealer deposit: NIL oz
we had nil dealer withdrawals:
total dealer withdrawals: nil oz
we had 3 customer withdrawal(s):
i) Out of CNT: 1,303,242.45 oz
ii) Out of Scotia: 573,141.47 oz
iii) Out of JPM: 250,429.100 oz
TOTAL CUSTOMER WITHDRAWALS: 2,126,813.02 oz
we had 3 customer deposit(s):
i) Into CNT: 14,581.5000 oz
ii) Into JPMorgan: 606,264.130 oz
iii) Into Scotia: 600,503.920 oz
total customer deposits; 1,221,349.550 oz
we had 0 adjustment(s)
The total number of notices filed today for the JANUARY. contract month is represented by 0 contract(s) for 0 oz. To calculate the number of silver ounces that will stand for delivery in JANUARY., we take the total number of notices filed for the month so far at 307 x 5,000 oz = 1,535,000 oz to which we add the difference between the open interest for the front month of JAN (355) and the number of notices served upon today (0) x 5000 oz equals the number of ounces standing
Thus the initial standings for silver for the JANUARY contract month: 307(notices served so far)x 5000 oz +(355) OI for front month of JAN. ) -number of notices served upon today (0)x 5000 oz equals 3,315,000 oz of silver standing for the JAN contract month. This is STILL huge for a non active delivery month in silver. We LOST 1 contract(s) or an additional 5,000 oz will not stand.
At first day notice for the January/2016 silver contract month we had 1,845,000 oz standing for delivery. By the conclusion of the delivery month we had only 575,000 oz stand.
Volumes: for silver comex
Today the estimated volume was 65,840 which is excellent
YESTERDAY’S confirmed volume was 70,449 contracts which is excellent.
Total dealer silver: 28.582 million (close to record low inventory
Total number of dealer and customer silver: 180.685 million oz
The total open interest on silver is NOW moving away from its all time high with the record of 224,540 being set AUGUST 3.2016.
end
At 3:30 pm est we receive the COT report which gives us position levels of our major players. You will recall last week, that the bankers were going net long and the specs were going net short as the bankers goaded the specs. Let us see what today’s report brings:
First gold:
Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
208,855 112,305 71,021 97,410 215,022 377,286 398,348
Change from Prior Reporting Period
2,317 4,110 15,185 7,435 4,080 24,937 23,375
Traders
157 88 83 50 46 244 185
Small Speculators
Long Short Open Interest
47,387 26,325 424,673
-1,777 -215 23,160
non reportable positions Change from the previous reporting period
COT Gold Report – Positions as of Tuesday, January 03, 2017
Our large speculators;
those large specs that have been long in gold added 2317 contracts to their long side
those large specs that have been short in gold, added another 4110 contracts to their short side.
Our commercials:
those commercials who have been long in gold added 7435 contracts to their long side.
those commercials who have been short in gold added 4080 contracts to their short side.
Our small specs:
those small specs that have been long in gold pitched 1777 contracts from their long side.
those small specs that have been short in gold covered 215 contracts from their short side.
Conclusion: commercials go net long by another 3355 contracts.large specs go net short by another: 1793 contracts. thus extremely bullish as the specs are again goaded into going net short.
And now for silver:
Silver COT Report: Futures
Large Speculators Commercial
Long Short Spreading Long Short
86,821 25,530 9,877 42,493 118,307
2,491 111 -1,432 519 2,326
Traders
98 39 35 34 39
Small Speculators Open Interest Total
Long Short 163,812 Long Short
24,621 10,098 139,191 153,714
-863 -290 715 1,578 1,005
non reportable positions Positions as of: 145 103
Tuesday, January 03, 2017 © SilverSeek.com
Our large speculators:
those large specs that have been long in silver added 2491 contracts to their long side
those large specs that have been short in silver added a tiny 111 contracts to their short side.
Our commercials;
those commercials that have been long in silver added 519 contracts to their long side.
those commercials that have been short in silver added 2326 contracts to their short side.
Our small specs:
those small specs that have been long in silver pitched 814 contracts from their long side.
those small specs that have been short in silver covered 179 contracts from their short side.
Conclusions:
it seems that our commercials are having a great difficulty in covering their huge shortfall as they continue to go net short by another 1807 contracts.
end
And now the Gold inventory at the GLD
Jan 6/no changes in gold inventory at the GLD/inventory rests at 813.87 tonnes
Jan 5/no change in gold inventory at the GLD/inventory rests at 813.87 tonnes
Jan 4/no change in inventory/inventory rests at 813.87 tonnes
Jan 3.2017/a huge 9.49 tonnes of gold leaves the GLD/inventory rests at 813.87 tonnes
DEC 30/no changes in gold inventory at the GLD/Inventory rests at 823.36 tonnes
Dec 29/no changes in gold inventory at the GLD/Inventory rests at 823.36 tonnes
Dec 28/no change in gold tonnage at the GLD/inventory rests at 823.36 tonnes
Dec 27/a withdrawal of 1.18 tonnes from the GLD/Inventory rests at 823.36 tonnes
Dec 23/NO CHANGES IN GOLD INVENTORY AT THE GLD/RESTS TONIGHT AT 824.54 TONNES
Dec 22/no change in inventory at the GLD/Inventory rests at 824.54 tonnes
DEC 21/another massive 3.56 tonnes leaves the GLD/Inventory rests at 824.54 tonnes
Dec 20/no changes in gold inventory at the GLD/Inventory rests at 828.10 tonnes
Dec 19/A MASSIVE WITHDRAWAL OF 14.23 TONNES OF GOLD FROM THE GLD (WITH GOLD UP THESE PAST TWO TRADING SESSIONS)/INVENTORY RESTS TONIGHT AT 828.10 TONNES
Dec 16/no changes at the GLD/Inventory rests at 842.33 tonnes
Dec 15/ANOTHER HUGE WITHDRAWAL OF 7.11 TONNES OF GOLD/INVENTORY RESTS AT 842.33 TONNES
DEC 14/another huge withdrawal of 6.82 tonnes from the GLD/Inventory rests at 849.44 tonnes/
DEC 13/no changes in gold inventory at the GLD/Inventory rests at 856.26 tonnes
Dec 12/a withdrawal of 1.19 tonnes of gold from the GLD/Inventory rests at 856.26 tonnes
Dec 9/another huge withdrawal of 3.26 tonnes of gold leaves the GLD vaults on its way to Shanghai/Inventory rests this weekend at 857.45 tonnes
Dec 8/ANOTHER HUGE WITHDRAWAL OF 2.96 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 860.71 TONNES (THIS GOLD IS HEADING TO SHANGHAI)
DEC 7/ a huge change in gold inventory/a withdrawal of 6.23 tonnesas this gold is heading towards Shanghai/inventory rests at 863.67 tonnes
Dec 6/no changes in gold inventory/inventory rests at 869.92 tonnes.
Dec 5./ a tiny withdrawal of .32 tonnes and this is probably to pay for fees/inventory rests tonight at 869.92 tonnes
Dec 2/a huge withdrawal of 13.64 tonnes of gold leaving the GLD vaults/no doubt this is heading to Shanghai taking advantage of the huge premium/inventory rests tonight at 870.22 tonnes
Dec 1/no change in gold inventory at the GLD/Inventory rests at 883.86 tonnes
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Jan 6/2017/ Inventory rests tonight at 813.87 tonnes
*IN LAST 64 TRADING DAYS: 135.94 TONNES REMOVED FROM THE GLD
*LAST 11 TRADING DAYS: 10.67 TONNES HAVE LEFT
end
Now the SLV Inventory
jan 6/no changes in inventory at the SLV/Inventory rests at 341.199 million oz
Jan 5/no changes in inventory at the SLV/Inventory rests at 341.199 million oz
Jan 4/a small withdrawal of 149,000 oz (probably to pay for fees/inventory rests at 341.199 million oz
Jan 3.2017/no changes in silver inventory at the SLV/Inventory rests at 341.348 million oz/
DEC 30/no changes in silver inventory at the SLV/inventory rests at 341.348 million oz/
Dec 29/no changes in silver inventory at the SLV/Inventory rests at 341.348 million oz
Dec 28/no changes in silver inventory at the SLV/Inventory at 341.348 million oz/
Dec 27/a big deposit of 1.138 million oz/Inventory rests at 341.348 million oz
Dec 23/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 340.210 MILLION OZ/
Dec 22/WE HAD A SMALL DEPOSIT OF 948,000 OZ INTO THE SLV/INVENTORY RESTS AT 340.210 MILLION OZ/
DEC 21/no change in silver inventory at the SLV/Inventory rests at 339.262 million oz
Dec 20/a small withdrawal of 758,000 oz/inventory rests at 339.262 tonnes
Dec 19A HUGE DEPOSIT OF 1.327 MILLION OZ INTO THE SLV/INVENTORY RESTS AT 340.020 MILLION OZ
Dec 16/A HUGE WITHDRAWAL OF 2.37 MILLION OZ FROM THE SLV/INVENTORY RESTS AT 338.693 MILLION OZ/
Dec 15/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 341.063 MILLION OZ/
Dec 14.no change in inventory at the SLV/Inventory rests at 341.063 million oz/
DEC 13/ a huge withdrawal of 1.802 million oz from the SLV/Inventory rests at 341.063 million oz
Dec 12/no change in silver inventory/inventory rests at 342.865 million oz/
Dec 9/no change in silver inventory/inventory rests at 342.865 million oz/
Dec 8/a huge withdrawal of 3.09 million oz from the SLV/Inventory rests at 342.865 million oz
DEC7/no changes in silver inventory at the SLV/Inventory rests at 345.995 million oz/
Dec 6/no changes in silver inventory at the SLV/inventory rests at 345.995 million oz
Dec 5/no changes in silver inventory at the SLV/inventory rests at 345.995 million oz/
Dec 2 a tiny withdrawal of 155,000 oz and this is probably to pay for fees/inventory rests at 345.995 million oz/
.
Jan 6.2017: Inventory 341.199 million oz
end
NPV for Sprott and Central Fund of Canada
1. Central Fund of Canada: traded at Negative 7.3 percent to NAV usa funds and Negative 7.3% to NAV for Cdn funds!!!!
Percentage of fund in gold 61.1%
Percentage of fund in silver:38.7%
cash .+0.2%( jan 6/2017)
.
2. Sprott silver fund (PSLV): Premium FALLS to +.24%!!!! NAV (Jan 6/2017)
3. Sprott gold fund (PHYS): premium to NAV FALLS TO – 0.73% to NAV ( Jan 6/2017)
Note: Sprott silver trust back into POSITIVE territory at +0.24% /Sprott physical gold trust is back into NEGATIVE territory at -0.73%/Central fund of Canada’s is still in jail.
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Thank You Harvey & Doc Good Stuff
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MMgys
Good Morning !
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~*~Mining & Metals Du Jour~*~ Graveyard Shift~
Yuan Shorts Are Being Squeezed! | Harvey Organ
Posted on January 9, 2017 by The Doc
SHORTS ON THE CHINESE YUAN ARE BEING SQUEEZED…
LACKLUSTER JOBS REPORT FROM THE USA/AS USUAL GOLD AND SILVER WHACKED WITH THE JOB REPORT/JAPAN ANGRY AT TRUMP WITH THE REPORT THAT THE PRESIDENT ELECT ORDERED TOYOTA NOT TO BUILD THE COROLLA IN MEXICO/OVERNIGHT LENDING IN CHINA OVER 105%/SHORTS ON THE CHINESE YUAN ARE BEING SQUEEZED/THE CENTRAL BANK OF MEXICO INTERVENES TRYING TO STEM THE LOSS OF THE PESO BUT FAILS/FIRST MAJESTIC SILVER JOINS OUR CLASS ACTION LAWSUIT AGAINST THE BANKERS:
Gold at (1:30 am est) $1171.90 DOWN $7.80
silver at $16.46: DOWN 12 cents
Access market prices:
Gold: $1177.40
Silver: $16.52
THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON
The Shanghai fix is at 10:15 pm est last night and 2:15 am est early this morning
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:
FRIDAY gold fix Shanghai
Shanghai morning fix Jan 6/17 (10:15 pm est last night): $ 1196.45
NY ACCESS PRICE: $1179.10 (AT THE EXACT SAME TIME)/premium $17.35
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ 1191.97
NY ACCESS PRICE: $1174.30 (AT THE EXACT SAME TIME/2:15 am)
HUGE SPREAD 2ND FIX TODAY!!: $17.67
China rejects NY pricing of gold as a fraud/arbitrage will now commence fully
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
London Fix: Jan 6/2017: 5:30 am est: $.1174.20 (NY: same time: $1178.40 5:30AM)
London Second fix Jan 6.2017: 10 am est: $1175.85 (NY same time: $1176.60 (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:
NOTICES FILINGS FOR JANUARY CONTRACT MONTH: 0 NOTICE(S) FOR nil OZ. TOTAL NOTICES SO FAR: 1023 FOR 102,300 OZ (3.1819 TONNES)
For silver:
NOTICES FOR JANUARY CONTRACT MONTH FOR SILVER: 0 NOTICE(s) FOR 0 OZ. TOTAL NUMBER OF NOTICES FILED SO FAR; 307 FOR 1,535,000 OZ
Let us have a look at the data for today
.
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In silver, the total open interest ROSE by 1172 contracts UP to 165,537 with respect to YESTERDAY’S TRADING (short covering by the banks). In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. .828 BILLION TO BE EXACT or 118% of annual global silver production (ex Russia & ex China).
FOR THE JANUARY FRONT MONTH IN SILVER: 0 NOTICES FILED FOR 0 OZ.
In gold, the total comex gold ROSE BY 8,215 contracts WITH THE RISE IN THE PRICE GOLD ($15.90 with YESTERDAY’S trading ). The total gold OI stands at 431,537 contracts.
we had 0 notice(s) filed upon for 0 oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD:
We had no changes in tonnes of gold at the GLD
Inventory rests tonight: 813.87 tonnes
.
SLV
we had no changes in silver into the SLV
THE SLV Inventory rests at: 341.199 million oz
First, here is an outline of what will be discussed tonight: Preliminary data
1. Today, we had the open interest in silver ROSE by 1172 contracts UP to 165,537 AS SILVER ROSE by $0.08 with YESTERDAY’S trading. The gold open interest ROSE by 8,215 contracts UP to 431,823 AS THE PRICE OF GOLD ROSE BY $15.90 WITH YESTERDAY’S 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
2c) FRBNY report on earmarked gold movement
(Harvey)
2d) COT report
Harvey
3. ASIAN AFFAIRS
i)Late THURSDAY night/FRIDAY morning: Shanghai closed DOWN 11.09 POINTS OR 0.35%/ /Hang Sang closed UP 46.32 OR 0.21%. The Nikkei closed DOWN 66.32 POINTS OR 0.34% /Australia’s all ordinaires CLOSED UP 0.07%/Chinese yuan (ONSHORE) closed WELL DOWN at 6.9180/Oil ROSE to 54.17 dollars per barrel for WTI and 56.77 for Brent. Stocks in Europe: ALL IN THE RED. Offshore yuan trades 6.83161 yuan to the dollar vs 6.9180 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS COMPLETELY TRYING TO STOP DOLLARS LEAVING CHINA’S SHORES /
REPORT ON JAPAN SOUTH KOREA NORTH KOREA AND CHINA
3a)THAILAND/SOUTH KOREA
none today
b) REPORT ON JAPAN
Japan is angry at Trump especially that he got the facts on Japanese production of the Corolla wrong. Let us see what will happen in a few weeks when Trump takes over:
( zero hedge)
c) REPORT ON CHINA
i)Overnight the lending rate between banks soars to 105%. The offshore yuan (CHN ) continues its strength with POBC intervention as the shorts are getting squeezed:
( zero hedge)
ii)Chinese volatility explodes as the offshore yuan goes all over the map. The POBC are very worried about the new Trump administration labeling the country as a currency manipulator and they may wish to keep a stronger yuan in the following few weeks. Also the yuan shorts are temporarily getting killed. However in the long run, the yuan should retreat to the 7.3-8.0 level
( zero hedge)
iii)After China warns its citizens on capital outflowing from China, today they came out and warns more directly against Bitcoin. They urged its citizenry to take a rational approach to investing in virtual currencies. It lowered in value immediately but gold rose.
( zero hedge)
4 EUROPEAN AFFAIRS
How European immigration, mainly Muslims are creating problems for the politicians in Europe. In order to deflect attention, government impose bans of the burka.
( Murray/Gatestone Institute)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
none today
6.GLOBAL ISSUES
The Central bank of Mexico intervenes in the currency market trying to prop up the Peso but failed again. It seems that they sold a considerable amount of silver in their failed attempt. Is there something under the hood in the Mexican economy that we should be cognizant about:
( zero hedge)
7. OIL ISSUES
i)Back in April we reported on a huge amount of oil Iran was storing on vessels because of no room on land. We now now that 13 million barrels of oil held offshore has been sold mainly to China and other Asian interests and at discounts. Iran needs to get its market share back. The question now becomes will Saudi Arabia offer more discounts and/or cheat on its production!
( zero hedge)
ii)do not worry, the crooks have this under control as they are long oil. USA oil rig counts continue to rise as well as total USA production. OIl prices continue to rise:
(/zero hedge)
8. EMERGING MARKETS
A good snapshot of Venezuela’s finances. The author claims that the country still has 190 tonnes of gold. I find that hard to believe:
(courtesy Mueller/Mises Institute)
9. PHYSICAL MARKETS
i)An excellent Reuters report on the huge risks to the global economy as China burns through its foreign FX reserves. It is probably now below 3 trillion USA
( Reuters/GATA)
ii)A good background on China’s secretive gold reserves
(Ronan Manly/GATA)
iii)Alasdair Macleod’s weekly message for us;
( Alasdair Macleod)
iv)An excellent presentation by Koos Jansen on gold fundamentals between East and West
(Koos Jansen/Bullionstar)
v)Despite its manipulation gold advances against most currencies in the past 15 years
( Goldprice.org/GATA)
10.USA STORIES
i)Another phony jobs report. The BLS reports a gain of only 156,000 workers instead of the expected 178,000. However average earnings jumped .4% in December.
( BLS/zerohedge)
ii)Now for the real story on the jobs report:
the total number of people not in the labour force grew again rising by 18,000 poor souls. The total for the past 3 months was a whopping 841,000. Thus 95. 102 million Americans are now longer in the labour force. There are 152 million people in the labour force of a total citizens of working age: 255 million: thus a participation rate of 62.7%
( zero hedge)
iii)Only the supervisory level jobs saw growth in the earnings not the vast majority of American workers:
( zero hedge)
iv)What a complete utter nonsense: we had a huge increase again in waiter jobs (plus nurses and waste cleaners). We know the job report on the waiters is false because of massive layoffs in that field due to Obamacare, and health care costs that I brought to your attention in the past few days)( zero hedge)
v)a very ugly number: November factory orders plunge the most in over 2 years. And this is after a big rise in defense factory orders:
( zero hedge)
vi) a.What on earth is going on: The democrats refused FBI access to their hacked servers and then the FBI claim that Russians hacked their system without the access to those servers?
Give me a break..
( zero hedge)
vi) b. And now the report: what a joke!! No proof whatsoever on the Russian hacking
( zero hedge)
vii) Dave Kranzler reports on a true state of affairs with respect to the USA auto industry, the restaurant industry and on the consumer.
This should pour gasoline on the real jobs report issued today
( Dave Kranzler/IRD)
viii)The TIC report: the trade deficit increased because of the high USA dollar. Exports fell because of the high dollar while imports rose due to the same factor
( TIC/zerohedge)
Federal Reserve Bank of New York:
Earmarked gold movements
December report:
Last Oct/2016 we had 7,841 million dollars worth “gold” in inventory at the FRBNY
valued at $42.22 per oz
Last November/2016 we had 7,841 million dollars worth of gold in inventory at FRBNY valued at $42.22 per oz
thus 0 oz moved at $42.22
So far officially, the following has been repatriated to BuBa from NY:
2013: 5 tonnes
2014: 120 tonnes
2015: 99.5 tonnes
2016: to be officially announced
Their total quota from NY is scheduled to be 300 tonnes and another 374 tonnes from Paris of which 177 tonnes of gold has officially been sent (Dec 2015) and thus another 197 tonnes to cross the English channel.
Germany has officially 1237 tonnes of gold “stored ” in NY. On conclusion of the repatriation, Paris will have 0 stored there.
end
Let us head over to the comex:
The total gold comex open interest ROSE BY 8,215 CONTRACTS UP to an OI level of 431,823 AS THE PRICE OF GOLD ROSE $15.90 with YESTERDAY’S trading. We are now in the contract month of JANUARY and it is one of the poorest deliveries of the year.
With the front month of January we had a GAIN of 17 contracts UP to 170. We had 13 notices filed so we GAINED 30 contracts or AN ADDITIONAL 3000 oz WILL STAND for gold in this non active delivery month of January. For the next big active delivery month of February we had a GAIN of 1,730 contracts UP to 277,267. March had a gain of 80 contracts as it’s OI is now 276.
We had 0 notice(s) filed upon today for nil oz
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And now for the wild silver comex results. Total silver OI ROSE by 1172 contracts FROM 164,365 UP TO 165,537 AS the price of silver ROSE BY $0.08 with YESTERDAY’S trading. We are moving further from the all time record high for silver open interest set on Wednesday August 3/2016: (224,540).
We are now in the non active delivery month of January and here the OI FELL by 111 contracts FALLING TO 355. We had 110 notice(s) filed on yesterday so we LOST 1 CONTRACT or an additional 5,000 oz will NOT stand for delivery. The next non active month of February saw the OI rise by 40 contract(s) up to 204.
The next big active delivery month is March and here the OI rose by 548 contracts UP to 134,337 contracts.
We had 0 notice(s) filed for 0 oz for the January contract.
VOLUMES: for the gold comex
Today the estimated volume was 232,980 contracts which is good.
Yesterday’s confirmed volume was 299,421 contracts which is very good
Initial standings for january
Jan 6/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
8037.500
SCOTIA
250 kilobars
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
nil
No of oz served (contracts) today
0 notice(s)
nil oz
No of oz to be served (notices)
170 contracts
17,000 oz
Total monthly oz gold served (contracts) so far this month
1023 notices
102,300 oz
3.1819 tonnes
Total accumulative withdrawals of gold from the Dealers inventory this month nil oz
Total accumulative withdrawal of gold from the Customer inventory this month 4,547,053.2 oz
Today we HAD 1 kilobar transactions/
Today we had 0 deposit(s) into the dealer:
total dealer deposits: nil oz
We had nil dealer withdrawals:
total dealer withdrawals: nil oz
we had 0 customer deposit(s):
total customer deposits; nil oz
We had 1 customer withdrawal(s)
i) Out of Scotia: 8037.5 oz
(250 kilobars)
total customer withdrawal: 8037.500 oz
We had 0 adjustment(s)
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For January:
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 0 contract(s) of which 0 notices were stopped (received) by jPMorgan dealer and 0 notice(s) was (were) stopped/ Received) by jPMorgan customer account.
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To calculate the initial total number of gold ounces standing for the JANUARY. contract month, we take the total number of notices filed so far for the month (1023) x 100 oz or 101,000 oz, to which we add the difference between the open interest for the front month of JANUARY (170 contracts) minus the number of notices served upon today (0) x 100 oz per contract equals 119,300 oz, the number of ounces standing in this non active month of JANUARY.
Thus the INITIAL standings for gold for the JANUARY contract month:
No of notices served so far (1023) x 100 oz or ounces + {OI for the front month (170) minus the number of notices served upon today (0) x 100 oz which equals 119,300 oz standing in this non active delivery month of JANUARY (3.7107 tonnes)
On first day notice for January 2016, we had .9642 tonnes of gold standing. At the conclusion of the month we had only .5349 tonnes standing so you can visualize the increasing demand for physical gold a t the comex.
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I have now gone over all of the final deliveries for this year and it is startling.
First of all: in 2015 for the 13 months: 51 tonnes delivered upon for an average of 4.25 tonnes per month.
Here are the final deliveries for all of 2016 and the first month of January 2017
Jan 2016: .5349 tonnes (Jan is a non delivery month)
Feb 2015: 7.9876 tonnes (Feb is a delivery month/deliveries this month very low)
March 2015: 2.311 tonnes (March is a non delivery month)
April: 12.3917 tonnes (April is a delivery month/levels on the low side
And then something happens and from May forward deliveries boom!
May; 6.889 tonnes (May is a non delivery month)
June; 48.552 tonnes ( June is a very big delivery month and in the end deliveries were huge)
July: 21.452 tonnes (July is a non delivery month and generally a poor one/not this time!)
August: 44.358 tonnes (August is a good delivery month and it came to fruition)
Sept: 8.4167 tonnes (Sept is a non delivery month)
Oct; 30.407 tonnes complete.
Nov. 8.3950 tonnes.
DEC. 29.931 tonnes
JAN/ 3.7197 tonnes
total for the 13 months; 226.111 tonnes
average 17.393 tonnes per month vs last yr 51.534 tonnes total for 13 months or 3.964 tonnes average per month.
Total dealer inventor 1,561,744.896 or 48.556 tonnes DEALER RAPIDLY LOSING GOLD
Total gold inventory (dealer and customer) = 9,109,848.073 or 283.35 tonnes
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 283.35 tonnes for a loss of 20 tonnes over that period. Since August 8/2016 we have lost 71 tonnes leaving the comex. However I am including kilobar transactions and they are very suspect at best
I have a sneaky feeling that these withdrawals of gold in kilobars are being used in the hypothecating process and are being used in the raiding of gold!
The gold comex is an absolute fraud. The use of kilobars and exact weights makes the data totally absurd and fraudulent! To me, the only thing that makes sense is the fact that “kilobars: are entries of hypothecated gold sent to other jurisdictions so that they will not be short with their underwritten derivatives in that jurisdiction. This would be similar to the rehypothecated gold used by Jon Corzine at MF Global.
IN THE LAST 4 1/2 MONTHS 71 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE DECEMBER DELIVERY MONTH
JANUARY INITIAL standings
Jan 6. 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
2,126,813.02 0z
Scotia
CNT
JPM
Deposits to the Dealer Inventory
nil
Deposits to the Customer Inventory
1,081,872.270 oz
SCOTIA
JPM
Scotia
No of oz served today (contracts)
0 CONTRACT(S)
(0 OZ)
No of oz to be served (notices)
355 contracts
(1,775,000 oz)
Total monthly oz silver served (contracts) 307 contracts (1,535,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this month NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month 8,890,931.1 oz
END
today, we had 0 deposit(s) into the dealer account:
total dealer deposit: NIL oz
we had nil dealer withdrawals:
total dealer withdrawals: nil oz
we had 3 customer withdrawal(s):
i) Out of CNT: 1,303,242.45 oz
ii) Out of Scotia: 573,141.47 oz
iii) Out of JPM: 250,429.100 oz
TOTAL CUSTOMER WITHDRAWALS: 2,126,813.02 oz
we had 3 customer deposit(s):
i) Into CNT: 14,581.5000 oz
ii) Into JPMorgan: 606,264.130 oz
iii) Into Scotia: 600,503.920 oz
total customer deposits; 1,221,349.550 oz
we had 0 adjustment(s)
The total number of notices filed today for the JANUARY. contract month is represented by 0 contract(s) for 0 oz. To calculate the number of silver ounces that will stand for delivery in JANUARY., we take the total number of notices filed for the month so far at 307 x 5,000 oz = 1,535,000 oz to which we add the difference between the open interest for the front month of JAN (355) and the number of notices served upon today (0) x 5000 oz equals the number of ounces standing
Thus the initial standings for silver for the JANUARY contract month: 307(notices served so far)x 5000 oz +(355) OI for front month of JAN. ) -number of notices served upon today (0)x 5000 oz equals 3,315,000 oz of silver standing for the JAN contract month. This is STILL huge for a non active delivery month in silver. We LOST 1 contract(s) or an additional 5,000 oz will not stand.
At first day notice for the January/2016 silver contract month we had 1,845,000 oz standing for delivery. By the conclusion of the delivery month we had only 575,000 oz stand.
Volumes: for silver comex
Today the estimated volume was 65,840 which is excellent
YESTERDAY’S confirmed volume was 70,449 contracts which is excellent.
Total dealer silver: 28.582 million (close to record low inventory
Total number of dealer and customer silver: 180.685 million oz
The total open interest on silver is NOW moving away from its all time high with the record of 224,540 being set AUGUST 3.2016.
end
At 3:30 pm est we receive the COT report which gives us position levels of our major players. You will recall last week, that the bankers were going net long and the specs were going net short as the bankers goaded the specs. Let us see what today’s report brings:
First gold:
Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
208,855 112,305 71,021 97,410 215,022 377,286 398,348
Change from Prior Reporting Period
2,317 4,110 15,185 7,435 4,080 24,937 23,375
Traders
157 88 83 50 46 244 185
Small Speculators
Long Short Open Interest
47,387 26,325 424,673
-1,777 -215 23,160
non reportable positions Change from the previous reporting period
COT Gold Report – Positions as of Tuesday, January 03, 2017
Our large speculators;
those large specs that have been long in gold added 2317 contracts to their long side
those large specs that have been short in gold, added another 4110 contracts to their short side.
Our commercials:
those commercials who have been long in gold added 7435 contracts to their long side.
those commercials who have been short in gold added 4080 contracts to their short side.
Our small specs:
those small specs that have been long in gold pitched 1777 contracts from their long side.
those small specs that have been short in gold covered 215 contracts from their short side.
Conclusion: commercials go net long by another 3355 contracts.large specs go net short by another: 1793 contracts. thus extremely bullish as the specs are again goaded into going net short.
And now for silver:
Silver COT Report: Futures
Large Speculators Commercial
Long Short Spreading Long Short
86,821 25,530 9,877 42,493 118,307
2,491 111 -1,432 519 2,326
Traders
98 39 35 34 39
Small Speculators Open Interest Total
Long Short 163,812 Long Short
24,621 10,098 139,191 153,714
-863 -290 715 1,578 1,005
non reportable positions Positions as of: 145 103
Tuesday, January 03, 2017 © SilverSeek.com
Our large speculators:
those large specs that have been long in silver added 2491 contracts to their long side
those large specs that have been short in silver added a tiny 111 contracts to their short side.
Our commercials;
those commercials that have been long in silver added 519 contracts to their long side.
those commercials that have been short in silver added 2326 contracts to their short side.
Our small specs:
those small specs that have been long in silver pitched 814 contracts from their long side.
those small specs that have been short in silver covered 179 contracts from their short side.
Conclusions:
it seems that our commercials are having a great difficulty in covering their huge shortfall as they continue to go net short by another 1807 contracts.
end
And now the Gold inventory at the GLD
Jan 6/no changes in gold inventory at the GLD/inventory rests at 813.87 tonnes
Jan 5/no change in gold inventory at the GLD/inventory rests at 813.87 tonnes
Jan 4/no change in inventory/inventory rests at 813.87 tonnes
Jan 3.2017/a huge 9.49 tonnes of gold leaves the GLD/inventory rests at 813.87 tonnes
DEC 30/no changes in gold inventory at the GLD/Inventory rests at 823.36 tonnes
Dec 29/no changes in gold inventory at the GLD/Inventory rests at 823.36 tonnes
Dec 28/no change in gold tonnage at the GLD/inventory rests at 823.36 tonnes
Dec 27/a withdrawal of 1.18 tonnes from the GLD/Inventory rests at 823.36 tonnes
Dec 23/NO CHANGES IN GOLD INVENTORY AT THE GLD/RESTS TONIGHT AT 824.54 TONNES
Dec 22/no change in inventory at the GLD/Inventory rests at 824.54 tonnes
DEC 21/another massive 3.56 tonnes leaves the GLD/Inventory rests at 824.54 tonnes
Dec 20/no changes in gold inventory at the GLD/Inventory rests at 828.10 tonnes
Dec 19/A MASSIVE WITHDRAWAL OF 14.23 TONNES OF GOLD FROM THE GLD (WITH GOLD UP THESE PAST TWO TRADING SESSIONS)/INVENTORY RESTS TONIGHT AT 828.10 TONNES
Dec 16/no changes at the GLD/Inventory rests at 842.33 tonnes
Dec 15/ANOTHER HUGE WITHDRAWAL OF 7.11 TONNES OF GOLD/INVENTORY RESTS AT 842.33 TONNES
DEC 14/another huge withdrawal of 6.82 tonnes from the GLD/Inventory rests at 849.44 tonnes/
DEC 13/no changes in gold inventory at the GLD/Inventory rests at 856.26 tonnes
Dec 12/a withdrawal of 1.19 tonnes of gold from the GLD/Inventory rests at 856.26 tonnes
Dec 9/another huge withdrawal of 3.26 tonnes of gold leaves the GLD vaults on its way to Shanghai/Inventory rests this weekend at 857.45 tonnes
Dec 8/ANOTHER HUGE WITHDRAWAL OF 2.96 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 860.71 TONNES (THIS GOLD IS HEADING TO SHANGHAI)
DEC 7/ a huge change in gold inventory/a withdrawal of 6.23 tonnesas this gold is heading towards Shanghai/inventory rests at 863.67 tonnes
Dec 6/no changes in gold inventory/inventory rests at 869.92 tonnes.
Dec 5./ a tiny withdrawal of .32 tonnes and this is probably to pay for fees/inventory rests tonight at 869.92 tonnes
Dec 2/a huge withdrawal of 13.64 tonnes of gold leaving the GLD vaults/no doubt this is heading to Shanghai taking advantage of the huge premium/inventory rests tonight at 870.22 tonnes
Dec 1/no change in gold inventory at the GLD/Inventory rests at 883.86 tonnes
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Jan 6/2017/ Inventory rests tonight at 813.87 tonnes
*IN LAST 64 TRADING DAYS: 135.94 TONNES REMOVED FROM THE GLD
*LAST 11 TRADING DAYS: 10.67 TONNES HAVE LEFT
end
Now the SLV Inventory
jan 6/no changes in inventory at the SLV/Inventory rests at 341.199 million oz
Jan 5/no changes in inventory at the SLV/Inventory rests at 341.199 million oz
Jan 4/a small withdrawal of 149,000 oz (probably to pay for fees/inventory rests at 341.199 million oz
Jan 3.2017/no changes in silver inventory at the SLV/Inventory rests at 341.348 million oz/
DEC 30/no changes in silver inventory at the SLV/inventory rests at 341.348 million oz/
Dec 29/no changes in silver inventory at the SLV/Inventory rests at 341.348 million oz
Dec 28/no changes in silver inventory at the SLV/Inventory at 341.348 million oz/
Dec 27/a big deposit of 1.138 million oz/Inventory rests at 341.348 million oz
Dec 23/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 340.210 MILLION OZ/
Dec 22/WE HAD A SMALL DEPOSIT OF 948,000 OZ INTO THE SLV/INVENTORY RESTS AT 340.210 MILLION OZ/
DEC 21/no change in silver inventory at the SLV/Inventory rests at 339.262 million oz
Dec 20/a small withdrawal of 758,000 oz/inventory rests at 339.262 tonnes
Dec 19A HUGE DEPOSIT OF 1.327 MILLION OZ INTO THE SLV/INVENTORY RESTS AT 340.020 MILLION OZ
Dec 16/A HUGE WITHDRAWAL OF 2.37 MILLION OZ FROM THE SLV/INVENTORY RESTS AT 338.693 MILLION OZ/
Dec 15/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 341.063 MILLION OZ/
Dec 14.no change in inventory at the SLV/Inventory rests at 341.063 million oz/
DEC 13/ a huge withdrawal of 1.802 million oz from the SLV/Inventory rests at 341.063 million oz
Dec 12/no change in silver inventory/inventory rests at 342.865 million oz/
Dec 9/no change in silver inventory/inventory rests at 342.865 million oz/
Dec 8/a huge withdrawal of 3.09 million oz from the SLV/Inventory rests at 342.865 million oz
DEC7/no changes in silver inventory at the SLV/Inventory rests at 345.995 million oz/
Dec 6/no changes in silver inventory at the SLV/inventory rests at 345.995 million oz
Dec 5/no changes in silver inventory at the SLV/inventory rests at 345.995 million oz/
Dec 2 a tiny withdrawal of 155,000 oz and this is probably to pay for fees/inventory rests at 345.995 million oz/
.
Jan 6.2017: Inventory 341.199 million oz
end
NPV for Sprott and Central Fund of Canada
1. Central Fund of Canada: traded at Negative 7.3 percent to NAV usa funds and Negative 7.3% to NAV for Cdn funds!!!!
Percentage of fund in gold 61.1%
Percentage of fund in silver:38.7%
cash .+0.2%( jan 6/2017)
.
2. Sprott silver fund (PSLV): Premium FALLS to +.24%!!!! NAV (Jan 6/2017)
3. Sprott gold fund (PHYS): premium to NAV FALLS TO – 0.73% to NAV ( Jan 6/2017)
Note: Sprott silver trust back into POSITIVE territory at +0.24% /Sprott physical gold trust is back into NEGATIVE territory at -0.73%/Central fund of Canada’s is still in jail.
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Thank You Harvey & Doc Good Stuff
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