Sunday, February 05, 2017 9:56:29 PM
Just Stuff
MMgys
Good Morning !
~Welcome To
~*~Mining & Metals Du Jour~*~ Graveyard Shift~
Here's Tonight's Data
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JPM Silver Rigging Case Must Undergo Discoveries! – Harvey Organ
Posted on February 5, 2017 by The Doc
JP Morgan Dimon MastersTHE BIG STORY OF THE WEEK: JPMORGAN MUST UNDERGO DISCOVERIES AS APPEALS COURT OVERTURNS A PRIVATE SILVER RIGGING CASE AGAINST THEM…
FOR 3RD STRAIGHT DAY , BOTH GOLD AND SILVER AMOUNTS STANDING INCREASE PER DAY/GOLD AND SILVER ADVANCE TODAY WITH AN UPSIDE OUTSIDE DAY REVERSAL/DEUTSCHE BANK TO SLASH MORE JOBS AS TRADING IN FIXED INCOME FALLS AGAIN DUE TO NEGATIVE INTEREST RATES/THE BIG STORY OF THE DAY: JPMORGAN MUST UNDERGO DISCOVERIES AS APPEALS COURT OVERTURNS A PRIVATE SILVER RIGGING CASE AGAINST THEM/JOBS REPORT TODAY SHOWS INCREASE IN JOBS BUT POOR GROWTH IN EARNINGS: THE POOR RESULT SENDS DOW ETC SKYROCKETING
Gold at (1:30 am est) $1218.50 UP $1.80
silver at $17.45: up 5 cents
Access market prices:
Gold: $1220.50
Silver: $17.51
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 FIRST morning fix Feb 3/17 (10:15 pm est last night): $ 1216.88
NY ACCESS PRICE: $1214.45 (AT THE EXACT SAME TIME)/premium $2.43
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Shanghai SECOND afternoon fix: 2: 15 am est (second fix/early morning):$ 1216.88
NY ACCESS PRICE: $1213.90 (AT THE EXACT SAME TIME/2:15 am)
SPREAD/ 2ND FIX TODAY!!: $2.98
China rejects NY pricing of gold as a fraud/arbitrage will now commence fully
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London FIRST Fix: Feb3/2017: 5:30 am est: $1213.05 (NY: same time: $1213.30 (5:30AM)
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London Second fix Feb 3.2017: 10 am est: $1215.20 (NY same time: $1215.40 (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:
FEBRUARY/
NOTICES FILINGS FOR FEBRUARY CONTRACT MONTH: 136 NOTICE(S) FOR 13600 OZ. TOTAL NOTICES SO FAR: 4849 FOR 484,900 OZ (15.082 TONNES)
For silver:
For silver: FEBRUARY
6 NOTICES FILED FOR 30,000 OZ/
TOTAL NO OF NOTICES FILED: 145 FOR 725,000 OZ
Let us have a look at the data for today
.
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In silver, the total open interest ROSE by 2374 contracts UP to 190,571 with respect to YESTERDAY’S TRADING. In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. .952 BILLION TO BE EXACT or 136% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT FEBRUARY MONTH: 6 NOTICES FOR 30,000
In gold, the total comex gold ROSE BY 5457 contracts WITH THE RISE IN THE PRICE GOLD ($11.10 with YESTERDAY’S trading ).The total gold OI stands at 400,417 contracts
we had 136 notice(s) filed upon for 13,600 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: 811.22 tonnes
.
SLV
we had a tiny changes in silver into the SLV/ a withdrawal of 136,000 oz to pay for fees such as storage and insurance
THE SLV Inventory rests at: 334.713 million oz
FEDERAL RESERVE BANK OF NY: GOLD MOVEMENT REPORT FOR DECEMBER EXPORTS
JANUARY REPORT
The FRBNY reported that we have 7,841 million dollars worth of gold in inventory valued at $42.22 for December.
The previous month we had 7,841 million dollars worth of gold inventory valued at $42.22 for December.
We thus had 0 gold oz moved out of inventory
end
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver RISE by 2374 contracts UP to 190,571 DESPITE THE FACT THAT SILVER WAS DOWN 2 CENTS with YESTERDAY’S trading. The gold open interest ROSE by 5457 contracts UP to 400,417 WITH THE RISE IN THE PRICE OF GOLD OF $11.10 (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) COT report
(Harvey)
3c FEDERAL RESERVE BANK OF NY/GOLD INVENTORY MOVEMENT
(HARVEY)
3. ASIAN AFFAIRS
i)Late THURSDAY night/FRIDAY morning: Shanghai closed DOWN 18.99 POINTS OR .60%/ /Hang Sang CLOSED DOWN 55.31 POINTS OR .24% . The Nikkei closed UP 3.62 POINTS OR 0.02% /Australia’s all ordinaires CLOSED DOWN 0.42%/Chinese yuan (ONSHORE) closed UP at 6.8695/Oil FELL to 53.72 dollars per barrel for WTI and 56.77 for Brent. Stocks in Europe ALL IN THE GREEN. Offshore yuan trades 6.8183 yuan to the dollar vs 6.8695 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS QUITE A BIT AS POBC ATTEMPTS TO STOP DOLLARS FROM LEAVING CHINA’S SHORES. BOTH YUANS STRONGER COUPLED WITH THE STRONGER DOLLAR
REPORT ON JAPAN SOUTH KOREA NORTH KOREA AND CHINA
3a)THAILAND/SOUTH KOREA
b) REPORT ON JAPAN
i)Last night: Japanese bond yields surge despite intervention by the Bank of Japan. Remember they are targeting a zero rate and we are getting .10 to .11%
( zero hedge)
ii)We brought to your attention the story of Japan willing to use its large pension fund to fund 700,000 USA jobs. it seems that this is true. Japan is so afraid of Trump that they are willing to undergo this ridiculous program
( zero hedge)
c) REPORT ON CHINA
none today
4. EUROPEAN AFFAIRS
Deutsche bank/Germany
Deutsche bank will slash more jobs as they are having great difficulty with their fixed income trading (no doubt with negative interest rates)
( zero hedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
i)Israel
Trump flip flops a bit on Israel. Trump tells Netanyahu that it would be helpful if no new settlements. Trump states however that the settlements are not really a hindrance to the peace process
( zero hedge)
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Ray Stevens - Surfin' USSR
https://www.youtube.com/watch?v=k_aogC5DE9o
( MMgys )
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ii)IRAN/uSA
USA initiates more sanctions against Iran. Russia not a happy camper and thates that these are counter productive
( zerohedge)
6.GLOBAL ISSUES
This was quite a crash: Mexico’s consumer confidence came crashing down with today’s reading: 68.5 instead of 84.9
( zerohedge)
7. OIL ISSUES
rig counts rise again to 16th month highs as USA production also rises. However jobs are not to be found as robotics has done a great job replacing growth in this important sector
(courtesy zero hedge)
8. EMERGING MARKETS
Zimbabwe, home to the trillion dollar bank note which in 2009 could not even buy you a pkg of gum, is at it again,with their printing of Zimbabwe bond notes which is suppose to trade on a par with dollars. A black market is already in full operation.
( Simon Black/SovereignMan)
9. PHYSICAL MARKETS
i)The big story out late last night: In a private case against JPMorgan et al, the appellant court overrules a divisional court’s rule dismissing JPMorgan from the silver rigging case. This has huge ramifications: we can now discover JPMorgan and ask them about their huge increase in silver inventory while at the same time shorting the paper comex/OTC silver:
( MarketSlant)
ii)Chris Powell comments on the above case:
( Chris Powell/GATA)
iii)Avery Goodman correctly states that the fun begins for JPMorgan as they will be finally discovered:
( Avery Goodman)
iv)There is no question that Trump wants to devalue the USA dollar which no doubt will create a global currency war..Mike Kosares comments
( Mike Kosares/GATA)
v)Alasdair Macleod’s weekly message to us:( Alasdair Macleod)
vi)What a riot: the USA justice dept has done nothing in the silver price fixing case. They have now asked a one yr delay so they can enter the class action case
Unbelievable..
( zero hedge)
10.USA STORIES
i)In Trump’s first payroll report, the BLS reports a surge in 227,000 jobs but the all important earnings component disappoints. And believe it or not the unemployment rate ticks higher:
( zero hedge)
ii)Now the real report:
A whopping 736,000 poor souls drop off the labour force: it falls from 95 million down to 94.336 million /more phony adjustments from the BLS
( zero hedge)
iii)Somehow the wage growth disappointment sparks a bad news is good news story as stocks are bid as well as bonds and gold, but the dollar dumps( zero hedge)
iv)Trump will love this: full time jobs soar by 457,000 jobs but part timers tumble by 490,000
( BLS/zero hedge)
iv b)The job growth was uniform across the board:( zerohedge)
v)The adjusted border tax has winners and losers. The exporters are surely the huge winners and the importers the losers. War is about to break out over this( zero hedge)
vi)Donald strikes out against Iran and Arnold but thanks Australian PM for honesty despite hanging up on him:
( zero hedge)
vii)More “soft data” , the manipulated Markit service index stabilizes last month. However in the report they indicate that there is a squeeze on margins
( ServiceMarkit)
viii)uSA factory orders remain unchanged from last month and for the entire 11 years from 2006 they have not changed one bit
( zero hedge)
ix)Not good: Trump to sign executive order undoing Dodd Frank and the “fiduciary rule” Regulatory costs go down and that should help the banking sector( zero hedge)
xi)The markets today were reacting to the poor earnings growth in the jobs report. The dollar was tanking, gold was rising: so what does the Fed go: they send out their puff John Williams so states that there is a “good case” for another rate hike in March
( zero hedge)
xii)We now have our second state after Texas that will encourage a state owned gold depository
( Mike Maharrey/TenthAmendment Center)
Let us head over to the comex:
The total gold comex open interest ROSE BY 5457 CONTRACTS UP to an OI level of 400,417 WITH THE RISE IN THE PRICE OF GOLD ( $11.10 with YESTERDAY’S trading). We are now in the contract month of FEBRUARY and it is one of the better delivery months of the year. In this next big active delivery month of February we had a LOSS of 111 contracts DOWN to 2386. We had 263 notices served upon yesterday and therefore we gained 152 contracts or an additional 15,200 oz will stand for delivery. This is the first time in the history of the comex that we have gained in oz standing on the second day notice, on third day notice and again today. In other words we have gained more oz standing on each of the 3 days following the first day notice (where investors initially stand for metal having held a future contract and then turning that contract into physical metal). Somebody again is in urgent need of physical gold. The next non active contract month of March saw it’s OI fall by 190 contracts DOWN to 2679.The next big active month is April and here the OI ROSE by 4896 contracts UP to 273,040.
We had 136 notice(s) filed upon today for 13,600 oz
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And now for the wild silver comex results. Total silver OI ROSE by 2374 contracts FROM 188,197 UP TO 190,571 DESPITE THE FACT THAT the price of silver FELL IN PRICE TO THE TUNE OF 2 CENTS with respect to 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).
The active month of February saw the OI RISE by 18 contract(s) UP TO 167. We had 1 notices served upon yesterday so we GAINED 19 CONTRACTS or an additional 95,000 oz will stand. This is also the very first time in comex history that both metals increased in ounces standing on the 3 days post first day notice.
The next big active delivery month is March and here the OI decrease by 4003 contracts DOWN to 127,069 contracts. For comparison purposes last year on the same date only 102,251 contracts were standing.
We had 6 notice(s) filed for 30,000 oz for the FEBRUARY contract.
VOLUMES: for the gold comex
Today the estimated volume was 205,705 contracts which is good.
Yesterday’s confirmed volume was 244,490 contracts which is very good
volumes on gold are getting higher!
INITIAL standings for FEBRUARY
Feb 3/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
3,311.55 OZ
HSBC
Manfra
103 kilobars
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
21,884.417 oz
Scotia
No of oz served (contracts) today
136 notice(s)
13,600 oz
No of oz to be served (notices)
2250 contracts
225,000 oz
Total monthly oz gold served (contracts) so far this month
4849 notices
484900 oz
15.082 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 101,584.7 oz
Today we HAD 3 kilobar transaction(s)/
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 1 customer deposit(s):
i) Into Scotia: 21,884.417 oz
total customer deposits; 21,884.417 oz
We had 2 customer withdrawal(s)
i) Out of Scotia: 96.45 oz (3 kilobars)
ii) Out of HSBC: 3215.00 oz (100 kilobars)
total customer withdrawal: 3311.55 oz
103 kilobars
We had 1 adjustment(s)
i) Out of Brinks: 96.45 oz was adjusted out of the dealer and this landed into the customer account of Brinks (3 kilobars)
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For FEBRUARY:
Today, 0 notice(s) were issued from JPMorgan dealer account and 35 notices were issued from their client or customer account. The total of all issuance by all participants equates to 136 contract(s) of which 25 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 FEBRUARY. contract month, we take the total number of notices filed so far for the month (4849) x 100 oz or 484,900 oz, to which we add the difference between the open interest for the front month of FEBRUARY (2386 contracts) minus the number of notices served upon today (136) x 100 oz per contract equals 709,900 oz, the number of ounces standing in this active month of FEBRUARY.
Thus the INITIAL standings for gold for the FEBRUARY contract month:
No of notices served so far (4849) x 100 oz or ounces + {(2386)OI for the front month minus the number of notices served upon today (136) x 100 oz which equals 709,900 oz standing in this non active delivery month of FEBRUARY (22.080 tonnes)
we gained 152 contracts or an additional 15200 oz will stand in this active delivery month.
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On first day notice for FEB 2016, we had 20.124 tonnes of gold standing. At the conclusion of the month we had only 7.9876 tonnes standing. The data suggests that we had almost identical amounts standing in Feb ’16 and Feb 2017; however today’s totals already surpassed the final amt which eventually stood in 2016.(already 15.082 tonnes vs 7.9876 at the end of Feb).
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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 2016: 7.9876 tonnes (Feb is a delivery month/deliveries this month very low)
March 2016: 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/ 3.9004 tonnes
FEB/ 21.608 tonnes
total for the 14 months; 248.153 tonnes
average 17.725 tonnes per month vs last yr 59.51 tonnes total for 14 months or 4.250 tonnes average per month (last yr).
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Total dealer inventory 1,428,536.469 or 44.433 tonnes DEALER RAPIDLY LOSING GOLD
Total gold inventory (dealer and customer) = 8,946.731.150 or 278.28 tonnes
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 278.28 tonnes for a loss of 25 tonnes over that period. Since August 8/2016 we have lost 76 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 6 MONTHS 76 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE JANUARY DELIVERY MONTH
FEBRUARY INITIAL standings
feb 3. 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
503,721.510 0z
Delaware
Scotia
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
1220,561.310 OZ
CNT
Scotia
No of oz served today (contracts)
6 CONTRACT(S)
(30,000 OZ)
No of oz to be served (notices)
161 contracts
(805,000 oz)
Total monthly oz silver served (contracts) 145 contracts (725,000 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 3,617,490.6 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 2 customer withdrawal(s):
i) Out of Delaware: 982.100 oz
ii) Out of Scotia: 502,739.410 oz
TOTAL CUSTOMER WITHDRAWALS: 503,721.510 oz
we had 2 customer deposit(s):
i) Into CNT: 600,672.03 oz
ii) Into Scotia: 619,889.280 oz
x) Into JPMorgan: zero oz**
deposits into JPMorgan have now stopped.
total customer deposits; 1,220,561.310 oz
we had 0 adjustment(s)
The total number of notices filed today for the FEBRUARY. contract month is represented by 6 contract(s) for 30,000 oz. To calculate the number of silver ounces that will stand for delivery in FEBRUARY., we take the total number of notices filed for the month so far at 145 x 5,000 oz = 725,000 oz to which we add the difference between the open interest for the front month of feb (167) and the number of notices served upon today (6) x 5000 oz equals the number of ounces standing
Thus the initial standings for silver for the FEBRUARY contract month: 145(notices served so far)x 5000 oz + OI for front month of FEB.( 167 ) -number of notices served upon today (6)x 5000 oz equals 1,530,000 oz of silver standing for the Feb contract month. This is huge for a non active delivery month in silver.
We gained 19 contracts or an additional 95,000 oz will stand.
At first day notice for the FEB/2016 silver contract month we initially had 515,000 oz standing for delivery. By the conclusion of the delivery month we had 835,000 oz stand as some of the bankers required immediate silver inventory.
END
Volumes: for silver comex
Today the estimated volume was 69,643 which is excellent
YESTERDAY’S confirmed volume was 78,603 contracts which is excellent.
Total dealer silver: 30.205 million (close to record low inventory
Total number of dealer and customer silver: 179.009 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
The COT report:
Last week you will recall that the crooks (commercials) were going net short as no doubt we were in the beginnings of options expiry week. Since the report ends on the first day notice Jan 31.2017, one would expect that the commercials would cover their shortfall. Let us see what happened:
Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
212,414 93,259 45,008 101,784 233,587 359,206 371,854
Change from Prior Reporting Period
2,560 -7,188 -74,790 -7,216 -1,787 -79,446 -83,765
Traders
169 84 79 42 43 242 178
Small Speculators
Long Short Open Interest
39,227 26,579 398,433
-4,495 -176 -83,941
non reportable positions Change from the previous reporting period
COT Gold Report – Positions as of Tuesday, January 31, 2017
Our large specs:
Those large specs that have been long in gold added 2560 contracts to their long side
those large specs that have been short in gold covered 7188 contracts from their short side.
(this was to be expected)
Our crooked commercials
those commercials that have been long in gold pitched a huge 7216 contracts from their long side
those commercials that have been short in gold covered 1787 contracts from their short side.
Our small specs;
those small specs that have been long in gold pitched 4495 contracts from their long side
those small specs that have been short in gold pitched a tiny 176 contracts from their short side.
conclusions: the commercials go net short by 5429 contracts but that was by pitching some of their long positions. They covered a tiny 1787 contracts from their short side. They may be having trouble extricating themselves from their mess.
(still bearish)
Now onto silver;
Silver COT Report: Futures
Large Speculators Commercial
Long Short Spreading Long Short
96,909 20,935 16,500 49,265 138,678
4,590 -363 1,073 2,070 8,399
Traders
97 33 44 34 38
Small Speculators Open Interest Total
Long Short 186,839 Long Short
24,165 10,726 162,674 176,113
1,505 129 9,238 7,733 9,109
non reportable positions Positions as of: 150 100
Tuesday, January 31, 2017 © SilverSeek.com
When we left off last week, we found that the commercials were having difficulty covering their paper shorts. Let us now see what happened this week:
Our large specs;
those large specs that have been long in silver added a huge 4590 contracts to their long side.
our large specs that have been short in silver covered a tiny 363 contracts from their short side.
Our crooked commercials;
those commercials that have been long in silver added 2070 contracts to their long side
those commercials that have been short in silver said the hell with things as they again supplied the necessary paper trying to contain the silver price; they added 8399 contracts to their short side
Our small specs:
Those small specs that have been long in silver added 1505 contracts to their long side
those small specs that have been short in silver added a tiny 129 contracts to their short side.
Conclusions: commercials go net short by a huge 6,329 contracts with a rising silver price and first day notice over. Strange! (very bearish)
And now the Gold inventory at the GLD
FEB 3/no change in gold inventory at the GLD/Inventory rests at 811.22 tonnes
Feb 2/another huge deposit of 1.48 tonnes/inventory rests at 811.22 tonnes
Feb 1/a huge “deposit” of 10.67 tonnes of gold into the GLD/Inventory rests at 809.74 tonnes. this should stop GLD from sending gold to Shanghai.
JAN 31/no change in gold inventory at the GLD/Inventory rests at 799.07 tonnes
jan 30/no change in gold inventory at the GLD/Inventory rests at 799.07 tonnes
Jan 27/no changes at the GLD/Inventory rests at 799.07 tonnes
Jan 26/no changes at the GLD/Inventory rests at 799.07 tonnes/
jan 25/another exactly the same withdrawal as yesterday: 50.4 tonnes and again this was used in the whacking of gold today/inventory rests at 799.07 tonnes
jan 24/a huge withdrawal of 5.04 tonnes and probably this was used today in the whacking of gold/inventory rests at 804.11 tonnes
Jan 23/a big change/this time a deposit of 1.19 tonnes of gold into the GLD/inventory rests at 809.15 tonnes. The drainage of gold from the GLD to Shanghai has now stopped!
Jan 20/no changes in gold inventory a the GLD/Inventory rests at 807.96 tonnes
Jan 19/no changes in gold inventory at the GLD/Inventory rests at 807.96 tonnes
Jan 18/no changes in gold inventory at the GLD/Inventory rests at 807.96 tonnes
Jan 17/17/a deposit of 2.96 tonnes of gold/inventory at the GLD rests at 807.96 tonnes. I guess there is no more gold inventory to sent to C+Shanghai
Jan 13/17/there were no changes in gold inventory at the GLD/Inventory rests at 805.00 tonnes
Jan 12/2017/no change in gold inventory at the GLD/Inventory rests at 805.00 tonnes
Jan 11/no change in gold inventory at the GLD/Inventory rests at 805.00 tonnes
JAN 10/no changes in gold inventory at the GLD/Inventory rests at 805.00 tonnes
JAN 9/A WITHDRAWAL OF 8.87 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 805.00 TONNES
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
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Feb 3/2017/ Inventory rests tonight at 811.22 tonnes
*IN LAST 82 TRADING DAYS: 138.59 TONNES REMOVED FROM THE GLD
*LAST 29 TRADING DAYS: 13.32 TONNES HAVE LEFT
end
Now the SLV Inventory
FEB3/ a tiny withdrawal of 136,000 oz to pay for fees etc/inventory rests at 334.713 million oz
Feb 2/no changes in silver inventory at the SLV/Inventory rests at 334.849 million oz
Feb 1/a withdrawal of 948,000 oz from the SLV/Inventory rests at 334.849 million oz
Jan 31.no change in inventory at the SLV/Inventory rests at 335.797 million oz
jan 30/no change in inventory at the SLV/Inventory rests at 335.797 million oz
Jan 27/we had a deposit of 758,000 oz into the SLV/Inventory rests at 335.797 million oz
Jan 26./ a huge withdrawal of 2.369 million oz from the SLV/Inventory rests at 335.039 million oz
Jan 25./another changes at the SLV/Inventory rests at 337.408 million oz
jan 24/ a withdrawal of 948,000 oz at the SLV/Inventory rests at 337.408 million oz
Jan 23/no changes in silver inventory at the SLV/Inventory rests at 338.356 million oz
Jan 20/no changes in silver inventory at the SLV/Inventory rests at 338.356 million oz
jan 19/no changes in silver inventory at the SLV/Inventory rests at 338.356 million oz
Jan 18/no changes in silver inventory/inventory rests at 338.356 million oz/
Jan 17/no change in silver inventory at the SLV/Inventory rests at 338.356 million oz/
Jan 13/2017/on changes in the SLV inventory/rests tonight at 338.356 million oz/
Jan 12.2017/ no changes in the SLV Inventory/ rests at 338.356 million oz
Jan 11/ A HUGE WITHDRAWAL F 2.843 MILLION OZ/INVENTORY RESTS AT 338.356 MILLION OZ/
JAN 10/no changes in inventory at the SLV/Inventory rests at 341.199 million oz
JAN 9/no changes in inventory at the SLV/Inventory rests at 341.199 million oz/
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/
.
Feb 3.2017: Inventory 334.713 million oz
end
NPV for Sprott and Central Fund of Canada
1. Central Fund of Canada: traded at Negative 7.5 percent to NAV usa funds and Negative 7.3% to NAV for Cdn funds!!!!
Percentage of fund in gold 60.7%
Percentage of fund in silver:39.1%
cash .+0.2%( feb 3/2017)
.
2. Sprott silver fund (PSLV): Premium FALLS to -.29%!!!! NAV (Feb 3/2017)
3. Sprott gold fund (PHYS): premium to NAV FALLS TO – 0.36% to NAV ( feb 3/2017)
Note: Sprott silver trust back into NEGATIVE territory at -0.29% /Sprott physical gold trust is back into NEGATIVE territory at -0.36%/Central fund of Canada’s is still in jail.
http://www.silverdoctors.com/gold/gold-news/jpm-silver-rigging-harvey-organ/#more-76117
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Thank You Harvey & Doc
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MMgys
.jpg)
MMgys
bumper courtesy Gold49er
Good Morning !
~Welcome To
~*~Mining & Metals Du Jour~*~ Graveyard Shift~
Here's Tonight's Data
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JPM Silver Rigging Case Must Undergo Discoveries! – Harvey Organ
Posted on February 5, 2017 by The Doc
JP Morgan Dimon MastersTHE BIG STORY OF THE WEEK: JPMORGAN MUST UNDERGO DISCOVERIES AS APPEALS COURT OVERTURNS A PRIVATE SILVER RIGGING CASE AGAINST THEM…
FOR 3RD STRAIGHT DAY , BOTH GOLD AND SILVER AMOUNTS STANDING INCREASE PER DAY/GOLD AND SILVER ADVANCE TODAY WITH AN UPSIDE OUTSIDE DAY REVERSAL/DEUTSCHE BANK TO SLASH MORE JOBS AS TRADING IN FIXED INCOME FALLS AGAIN DUE TO NEGATIVE INTEREST RATES/THE BIG STORY OF THE DAY: JPMORGAN MUST UNDERGO DISCOVERIES AS APPEALS COURT OVERTURNS A PRIVATE SILVER RIGGING CASE AGAINST THEM/JOBS REPORT TODAY SHOWS INCREASE IN JOBS BUT POOR GROWTH IN EARNINGS: THE POOR RESULT SENDS DOW ETC SKYROCKETING
Gold at (1:30 am est) $1218.50 UP $1.80
silver at $17.45: up 5 cents
Access market prices:
Gold: $1220.50
Silver: $17.51
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 FIRST morning fix Feb 3/17 (10:15 pm est last night): $ 1216.88
NY ACCESS PRICE: $1214.45 (AT THE EXACT SAME TIME)/premium $2.43
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Shanghai SECOND afternoon fix: 2: 15 am est (second fix/early morning):$ 1216.88
NY ACCESS PRICE: $1213.90 (AT THE EXACT SAME TIME/2:15 am)
SPREAD/ 2ND FIX TODAY!!: $2.98
China rejects NY pricing of gold as a fraud/arbitrage will now commence fully
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
London FIRST Fix: Feb3/2017: 5:30 am est: $1213.05 (NY: same time: $1213.30 (5:30AM)
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
London Second fix Feb 3.2017: 10 am est: $1215.20 (NY same time: $1215.40 (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:
FEBRUARY/
NOTICES FILINGS FOR FEBRUARY CONTRACT MONTH: 136 NOTICE(S) FOR 13600 OZ. TOTAL NOTICES SO FAR: 4849 FOR 484,900 OZ (15.082 TONNES)
For silver:
For silver: FEBRUARY
6 NOTICES FILED FOR 30,000 OZ/
TOTAL NO OF NOTICES FILED: 145 FOR 725,000 OZ
Let us have a look at the data for today
.
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In silver, the total open interest ROSE by 2374 contracts UP to 190,571 with respect to YESTERDAY’S TRADING. In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. .952 BILLION TO BE EXACT or 136% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT FEBRUARY MONTH: 6 NOTICES FOR 30,000
In gold, the total comex gold ROSE BY 5457 contracts WITH THE RISE IN THE PRICE GOLD ($11.10 with YESTERDAY’S trading ).The total gold OI stands at 400,417 contracts
we had 136 notice(s) filed upon for 13,600 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: 811.22 tonnes
.
SLV
we had a tiny changes in silver into the SLV/ a withdrawal of 136,000 oz to pay for fees such as storage and insurance
THE SLV Inventory rests at: 334.713 million oz
FEDERAL RESERVE BANK OF NY: GOLD MOVEMENT REPORT FOR DECEMBER EXPORTS
JANUARY REPORT
The FRBNY reported that we have 7,841 million dollars worth of gold in inventory valued at $42.22 for December.
The previous month we had 7,841 million dollars worth of gold inventory valued at $42.22 for December.
We thus had 0 gold oz moved out of inventory
end
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver RISE by 2374 contracts UP to 190,571 DESPITE THE FACT THAT SILVER WAS DOWN 2 CENTS with YESTERDAY’S trading. The gold open interest ROSE by 5457 contracts UP to 400,417 WITH THE RISE IN THE PRICE OF GOLD OF $11.10 (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) COT report
(Harvey)
3c FEDERAL RESERVE BANK OF NY/GOLD INVENTORY MOVEMENT
(HARVEY)
3. ASIAN AFFAIRS
i)Late THURSDAY night/FRIDAY morning: Shanghai closed DOWN 18.99 POINTS OR .60%/ /Hang Sang CLOSED DOWN 55.31 POINTS OR .24% . The Nikkei closed UP 3.62 POINTS OR 0.02% /Australia’s all ordinaires CLOSED DOWN 0.42%/Chinese yuan (ONSHORE) closed UP at 6.8695/Oil FELL to 53.72 dollars per barrel for WTI and 56.77 for Brent. Stocks in Europe ALL IN THE GREEN. Offshore yuan trades 6.8183 yuan to the dollar vs 6.8695 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS QUITE A BIT AS POBC ATTEMPTS TO STOP DOLLARS FROM LEAVING CHINA’S SHORES. BOTH YUANS STRONGER COUPLED WITH THE STRONGER DOLLAR
REPORT ON JAPAN SOUTH KOREA NORTH KOREA AND CHINA
3a)THAILAND/SOUTH KOREA
b) REPORT ON JAPAN
i)Last night: Japanese bond yields surge despite intervention by the Bank of Japan. Remember they are targeting a zero rate and we are getting .10 to .11%
( zero hedge)
ii)We brought to your attention the story of Japan willing to use its large pension fund to fund 700,000 USA jobs. it seems that this is true. Japan is so afraid of Trump that they are willing to undergo this ridiculous program
( zero hedge)
c) REPORT ON CHINA
none today
4. EUROPEAN AFFAIRS
Deutsche bank/Germany
Deutsche bank will slash more jobs as they are having great difficulty with their fixed income trading (no doubt with negative interest rates)
( zero hedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
i)Israel
Trump flip flops a bit on Israel. Trump tells Netanyahu that it would be helpful if no new settlements. Trump states however that the settlements are not really a hindrance to the peace process
( zero hedge)
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Ray Stevens - Surfin' USSR
https://www.youtube.com/watch?v=k_aogC5DE9o
( MMgys )
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ii)IRAN/uSA
USA initiates more sanctions against Iran. Russia not a happy camper and thates that these are counter productive
( zerohedge)
6.GLOBAL ISSUES
This was quite a crash: Mexico’s consumer confidence came crashing down with today’s reading: 68.5 instead of 84.9
( zerohedge)
7. OIL ISSUES
rig counts rise again to 16th month highs as USA production also rises. However jobs are not to be found as robotics has done a great job replacing growth in this important sector
(courtesy zero hedge)
8. EMERGING MARKETS
Zimbabwe, home to the trillion dollar bank note which in 2009 could not even buy you a pkg of gum, is at it again,with their printing of Zimbabwe bond notes which is suppose to trade on a par with dollars. A black market is already in full operation.
( Simon Black/SovereignMan)
9. PHYSICAL MARKETS
i)The big story out late last night: In a private case against JPMorgan et al, the appellant court overrules a divisional court’s rule dismissing JPMorgan from the silver rigging case. This has huge ramifications: we can now discover JPMorgan and ask them about their huge increase in silver inventory while at the same time shorting the paper comex/OTC silver:
( MarketSlant)
ii)Chris Powell comments on the above case:
( Chris Powell/GATA)
iii)Avery Goodman correctly states that the fun begins for JPMorgan as they will be finally discovered:
( Avery Goodman)
iv)There is no question that Trump wants to devalue the USA dollar which no doubt will create a global currency war..Mike Kosares comments
( Mike Kosares/GATA)
v)Alasdair Macleod’s weekly message to us:( Alasdair Macleod)
vi)What a riot: the USA justice dept has done nothing in the silver price fixing case. They have now asked a one yr delay so they can enter the class action case
Unbelievable..
( zero hedge)
10.USA STORIES
i)In Trump’s first payroll report, the BLS reports a surge in 227,000 jobs but the all important earnings component disappoints. And believe it or not the unemployment rate ticks higher:
( zero hedge)
ii)Now the real report:
A whopping 736,000 poor souls drop off the labour force: it falls from 95 million down to 94.336 million /more phony adjustments from the BLS
( zero hedge)
iii)Somehow the wage growth disappointment sparks a bad news is good news story as stocks are bid as well as bonds and gold, but the dollar dumps( zero hedge)
iv)Trump will love this: full time jobs soar by 457,000 jobs but part timers tumble by 490,000
( BLS/zero hedge)
iv b)The job growth was uniform across the board:( zerohedge)
v)The adjusted border tax has winners and losers. The exporters are surely the huge winners and the importers the losers. War is about to break out over this( zero hedge)
vi)Donald strikes out against Iran and Arnold but thanks Australian PM for honesty despite hanging up on him:
( zero hedge)
vii)More “soft data” , the manipulated Markit service index stabilizes last month. However in the report they indicate that there is a squeeze on margins
( ServiceMarkit)
viii)uSA factory orders remain unchanged from last month and for the entire 11 years from 2006 they have not changed one bit
( zero hedge)
ix)Not good: Trump to sign executive order undoing Dodd Frank and the “fiduciary rule” Regulatory costs go down and that should help the banking sector( zero hedge)
xi)The markets today were reacting to the poor earnings growth in the jobs report. The dollar was tanking, gold was rising: so what does the Fed go: they send out their puff John Williams so states that there is a “good case” for another rate hike in March
( zero hedge)
xii)We now have our second state after Texas that will encourage a state owned gold depository
( Mike Maharrey/TenthAmendment Center)
Let us head over to the comex:
The total gold comex open interest ROSE BY 5457 CONTRACTS UP to an OI level of 400,417 WITH THE RISE IN THE PRICE OF GOLD ( $11.10 with YESTERDAY’S trading). We are now in the contract month of FEBRUARY and it is one of the better delivery months of the year. In this next big active delivery month of February we had a LOSS of 111 contracts DOWN to 2386. We had 263 notices served upon yesterday and therefore we gained 152 contracts or an additional 15,200 oz will stand for delivery. This is the first time in the history of the comex that we have gained in oz standing on the second day notice, on third day notice and again today. In other words we have gained more oz standing on each of the 3 days following the first day notice (where investors initially stand for metal having held a future contract and then turning that contract into physical metal). Somebody again is in urgent need of physical gold. The next non active contract month of March saw it’s OI fall by 190 contracts DOWN to 2679.The next big active month is April and here the OI ROSE by 4896 contracts UP to 273,040.
We had 136 notice(s) filed upon today for 13,600 oz
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And now for the wild silver comex results. Total silver OI ROSE by 2374 contracts FROM 188,197 UP TO 190,571 DESPITE THE FACT THAT the price of silver FELL IN PRICE TO THE TUNE OF 2 CENTS with respect to 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).
The active month of February saw the OI RISE by 18 contract(s) UP TO 167. We had 1 notices served upon yesterday so we GAINED 19 CONTRACTS or an additional 95,000 oz will stand. This is also the very first time in comex history that both metals increased in ounces standing on the 3 days post first day notice.
The next big active delivery month is March and here the OI decrease by 4003 contracts DOWN to 127,069 contracts. For comparison purposes last year on the same date only 102,251 contracts were standing.
We had 6 notice(s) filed for 30,000 oz for the FEBRUARY contract.
VOLUMES: for the gold comex
Today the estimated volume was 205,705 contracts which is good.
Yesterday’s confirmed volume was 244,490 contracts which is very good
volumes on gold are getting higher!
INITIAL standings for FEBRUARY
Feb 3/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
3,311.55 OZ
HSBC
Manfra
103 kilobars
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
21,884.417 oz
Scotia
No of oz served (contracts) today
136 notice(s)
13,600 oz
No of oz to be served (notices)
2250 contracts
225,000 oz
Total monthly oz gold served (contracts) so far this month
4849 notices
484900 oz
15.082 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 101,584.7 oz
Today we HAD 3 kilobar transaction(s)/
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 1 customer deposit(s):
i) Into Scotia: 21,884.417 oz
total customer deposits; 21,884.417 oz
We had 2 customer withdrawal(s)
i) Out of Scotia: 96.45 oz (3 kilobars)
ii) Out of HSBC: 3215.00 oz (100 kilobars)
total customer withdrawal: 3311.55 oz
103 kilobars
We had 1 adjustment(s)
i) Out of Brinks: 96.45 oz was adjusted out of the dealer and this landed into the customer account of Brinks (3 kilobars)
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For FEBRUARY:
Today, 0 notice(s) were issued from JPMorgan dealer account and 35 notices were issued from their client or customer account. The total of all issuance by all participants equates to 136 contract(s) of which 25 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 FEBRUARY. contract month, we take the total number of notices filed so far for the month (4849) x 100 oz or 484,900 oz, to which we add the difference between the open interest for the front month of FEBRUARY (2386 contracts) minus the number of notices served upon today (136) x 100 oz per contract equals 709,900 oz, the number of ounces standing in this active month of FEBRUARY.
Thus the INITIAL standings for gold for the FEBRUARY contract month:
No of notices served so far (4849) x 100 oz or ounces + {(2386)OI for the front month minus the number of notices served upon today (136) x 100 oz which equals 709,900 oz standing in this non active delivery month of FEBRUARY (22.080 tonnes)
we gained 152 contracts or an additional 15200 oz will stand in this active delivery month.
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On first day notice for FEB 2016, we had 20.124 tonnes of gold standing. At the conclusion of the month we had only 7.9876 tonnes standing. The data suggests that we had almost identical amounts standing in Feb ’16 and Feb 2017; however today’s totals already surpassed the final amt which eventually stood in 2016.(already 15.082 tonnes vs 7.9876 at the end of Feb).
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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 2016: 7.9876 tonnes (Feb is a delivery month/deliveries this month very low)
March 2016: 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/ 3.9004 tonnes
FEB/ 21.608 tonnes
total for the 14 months; 248.153 tonnes
average 17.725 tonnes per month vs last yr 59.51 tonnes total for 14 months or 4.250 tonnes average per month (last yr).
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Total dealer inventory 1,428,536.469 or 44.433 tonnes DEALER RAPIDLY LOSING GOLD
Total gold inventory (dealer and customer) = 8,946.731.150 or 278.28 tonnes
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 278.28 tonnes for a loss of 25 tonnes over that period. Since August 8/2016 we have lost 76 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 6 MONTHS 76 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE JANUARY DELIVERY MONTH
FEBRUARY INITIAL standings
feb 3. 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
503,721.510 0z
Delaware
Scotia
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
1220,561.310 OZ
CNT
Scotia
No of oz served today (contracts)
6 CONTRACT(S)
(30,000 OZ)
No of oz to be served (notices)
161 contracts
(805,000 oz)
Total monthly oz silver served (contracts) 145 contracts (725,000 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 3,617,490.6 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 2 customer withdrawal(s):
i) Out of Delaware: 982.100 oz
ii) Out of Scotia: 502,739.410 oz
TOTAL CUSTOMER WITHDRAWALS: 503,721.510 oz
we had 2 customer deposit(s):
i) Into CNT: 600,672.03 oz
ii) Into Scotia: 619,889.280 oz
x) Into JPMorgan: zero oz**
deposits into JPMorgan have now stopped.
total customer deposits; 1,220,561.310 oz
we had 0 adjustment(s)
The total number of notices filed today for the FEBRUARY. contract month is represented by 6 contract(s) for 30,000 oz. To calculate the number of silver ounces that will stand for delivery in FEBRUARY., we take the total number of notices filed for the month so far at 145 x 5,000 oz = 725,000 oz to which we add the difference between the open interest for the front month of feb (167) and the number of notices served upon today (6) x 5000 oz equals the number of ounces standing
Thus the initial standings for silver for the FEBRUARY contract month: 145(notices served so far)x 5000 oz + OI for front month of FEB.( 167 ) -number of notices served upon today (6)x 5000 oz equals 1,530,000 oz of silver standing for the Feb contract month. This is huge for a non active delivery month in silver.
We gained 19 contracts or an additional 95,000 oz will stand.
At first day notice for the FEB/2016 silver contract month we initially had 515,000 oz standing for delivery. By the conclusion of the delivery month we had 835,000 oz stand as some of the bankers required immediate silver inventory.
END
Volumes: for silver comex
Today the estimated volume was 69,643 which is excellent
YESTERDAY’S confirmed volume was 78,603 contracts which is excellent.
Total dealer silver: 30.205 million (close to record low inventory
Total number of dealer and customer silver: 179.009 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
The COT report:
Last week you will recall that the crooks (commercials) were going net short as no doubt we were in the beginnings of options expiry week. Since the report ends on the first day notice Jan 31.2017, one would expect that the commercials would cover their shortfall. Let us see what happened:
Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
212,414 93,259 45,008 101,784 233,587 359,206 371,854
Change from Prior Reporting Period
2,560 -7,188 -74,790 -7,216 -1,787 -79,446 -83,765
Traders
169 84 79 42 43 242 178
Small Speculators
Long Short Open Interest
39,227 26,579 398,433
-4,495 -176 -83,941
non reportable positions Change from the previous reporting period
COT Gold Report – Positions as of Tuesday, January 31, 2017
Our large specs:
Those large specs that have been long in gold added 2560 contracts to their long side
those large specs that have been short in gold covered 7188 contracts from their short side.
(this was to be expected)
Our crooked commercials
those commercials that have been long in gold pitched a huge 7216 contracts from their long side
those commercials that have been short in gold covered 1787 contracts from their short side.
Our small specs;
those small specs that have been long in gold pitched 4495 contracts from their long side
those small specs that have been short in gold pitched a tiny 176 contracts from their short side.
conclusions: the commercials go net short by 5429 contracts but that was by pitching some of their long positions. They covered a tiny 1787 contracts from their short side. They may be having trouble extricating themselves from their mess.
(still bearish)
Now onto silver;
Silver COT Report: Futures
Large Speculators Commercial
Long Short Spreading Long Short
96,909 20,935 16,500 49,265 138,678
4,590 -363 1,073 2,070 8,399
Traders
97 33 44 34 38
Small Speculators Open Interest Total
Long Short 186,839 Long Short
24,165 10,726 162,674 176,113
1,505 129 9,238 7,733 9,109
non reportable positions Positions as of: 150 100
Tuesday, January 31, 2017 © SilverSeek.com
When we left off last week, we found that the commercials were having difficulty covering their paper shorts. Let us now see what happened this week:
Our large specs;
those large specs that have been long in silver added a huge 4590 contracts to their long side.
our large specs that have been short in silver covered a tiny 363 contracts from their short side.
Our crooked commercials;
those commercials that have been long in silver added 2070 contracts to their long side
those commercials that have been short in silver said the hell with things as they again supplied the necessary paper trying to contain the silver price; they added 8399 contracts to their short side
Our small specs:
Those small specs that have been long in silver added 1505 contracts to their long side
those small specs that have been short in silver added a tiny 129 contracts to their short side.
Conclusions: commercials go net short by a huge 6,329 contracts with a rising silver price and first day notice over. Strange! (very bearish)
And now the Gold inventory at the GLD
FEB 3/no change in gold inventory at the GLD/Inventory rests at 811.22 tonnes
Feb 2/another huge deposit of 1.48 tonnes/inventory rests at 811.22 tonnes
Feb 1/a huge “deposit” of 10.67 tonnes of gold into the GLD/Inventory rests at 809.74 tonnes. this should stop GLD from sending gold to Shanghai.
JAN 31/no change in gold inventory at the GLD/Inventory rests at 799.07 tonnes
jan 30/no change in gold inventory at the GLD/Inventory rests at 799.07 tonnes
Jan 27/no changes at the GLD/Inventory rests at 799.07 tonnes
Jan 26/no changes at the GLD/Inventory rests at 799.07 tonnes/
jan 25/another exactly the same withdrawal as yesterday: 50.4 tonnes and again this was used in the whacking of gold today/inventory rests at 799.07 tonnes
jan 24/a huge withdrawal of 5.04 tonnes and probably this was used today in the whacking of gold/inventory rests at 804.11 tonnes
Jan 23/a big change/this time a deposit of 1.19 tonnes of gold into the GLD/inventory rests at 809.15 tonnes. The drainage of gold from the GLD to Shanghai has now stopped!
Jan 20/no changes in gold inventory a the GLD/Inventory rests at 807.96 tonnes
Jan 19/no changes in gold inventory at the GLD/Inventory rests at 807.96 tonnes
Jan 18/no changes in gold inventory at the GLD/Inventory rests at 807.96 tonnes
Jan 17/17/a deposit of 2.96 tonnes of gold/inventory at the GLD rests at 807.96 tonnes. I guess there is no more gold inventory to sent to C+Shanghai
Jan 13/17/there were no changes in gold inventory at the GLD/Inventory rests at 805.00 tonnes
Jan 12/2017/no change in gold inventory at the GLD/Inventory rests at 805.00 tonnes
Jan 11/no change in gold inventory at the GLD/Inventory rests at 805.00 tonnes
JAN 10/no changes in gold inventory at the GLD/Inventory rests at 805.00 tonnes
JAN 9/A WITHDRAWAL OF 8.87 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 805.00 TONNES
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
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Feb 3/2017/ Inventory rests tonight at 811.22 tonnes
*IN LAST 82 TRADING DAYS: 138.59 TONNES REMOVED FROM THE GLD
*LAST 29 TRADING DAYS: 13.32 TONNES HAVE LEFT
end
Now the SLV Inventory
FEB3/ a tiny withdrawal of 136,000 oz to pay for fees etc/inventory rests at 334.713 million oz
Feb 2/no changes in silver inventory at the SLV/Inventory rests at 334.849 million oz
Feb 1/a withdrawal of 948,000 oz from the SLV/Inventory rests at 334.849 million oz
Jan 31.no change in inventory at the SLV/Inventory rests at 335.797 million oz
jan 30/no change in inventory at the SLV/Inventory rests at 335.797 million oz
Jan 27/we had a deposit of 758,000 oz into the SLV/Inventory rests at 335.797 million oz
Jan 26./ a huge withdrawal of 2.369 million oz from the SLV/Inventory rests at 335.039 million oz
Jan 25./another changes at the SLV/Inventory rests at 337.408 million oz
jan 24/ a withdrawal of 948,000 oz at the SLV/Inventory rests at 337.408 million oz
Jan 23/no changes in silver inventory at the SLV/Inventory rests at 338.356 million oz
Jan 20/no changes in silver inventory at the SLV/Inventory rests at 338.356 million oz
jan 19/no changes in silver inventory at the SLV/Inventory rests at 338.356 million oz
Jan 18/no changes in silver inventory/inventory rests at 338.356 million oz/
Jan 17/no change in silver inventory at the SLV/Inventory rests at 338.356 million oz/
Jan 13/2017/on changes in the SLV inventory/rests tonight at 338.356 million oz/
Jan 12.2017/ no changes in the SLV Inventory/ rests at 338.356 million oz
Jan 11/ A HUGE WITHDRAWAL F 2.843 MILLION OZ/INVENTORY RESTS AT 338.356 MILLION OZ/
JAN 10/no changes in inventory at the SLV/Inventory rests at 341.199 million oz
JAN 9/no changes in inventory at the SLV/Inventory rests at 341.199 million oz/
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/
.
Feb 3.2017: Inventory 334.713 million oz
end
NPV for Sprott and Central Fund of Canada
1. Central Fund of Canada: traded at Negative 7.5 percent to NAV usa funds and Negative 7.3% to NAV for Cdn funds!!!!
Percentage of fund in gold 60.7%
Percentage of fund in silver:39.1%
cash .+0.2%( feb 3/2017)
.
2. Sprott silver fund (PSLV): Premium FALLS to -.29%!!!! NAV (Feb 3/2017)
3. Sprott gold fund (PHYS): premium to NAV FALLS TO – 0.36% to NAV ( feb 3/2017)
Note: Sprott silver trust back into NEGATIVE territory at -0.29% /Sprott physical gold trust is back into NEGATIVE territory at -0.36%/Central fund of Canada’s is still in jail.
http://www.silverdoctors.com/gold/gold-news/jpm-silver-rigging-harvey-organ/#more-76117
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Thank You Harvey & Doc
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MMgys
bumper courtesy starboy
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