Friday, February 24, 2017 12:07:12 AM
Just Stuff
MMgys
Good Morning !
~Welcome To
~*~Mining & Metals Du Jour~*~ Graveyard Shift~
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COMEX Silver In Backwardation! – Harvey Organ
Posted on February 23, 2017 by The Doc
For the first time COMEX has March Silver in Backwardation…
GOLD AND SILVER REBOUND ON FOMC MINUTES RELEASED AT 2 PM/GLD AND SLV INVENTORY REMAIN CONSTANT/GOLD AND SILVER EQUITY SHARES WHACKED/BOTH CHINA AND IRAN ANGRY AT THE USA/TRUMP NOW WORRIED ABOUT DEFICIT SPENDING AND YET THE DOW RISES??
Gold at (1:30 am est) $1232.00 DOWN $5.50
silver was : $17.94: DOWN 5 CENTS
Access market prices:
Gold: $1237.90
Silver: $18.03
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:
WEDNESDAY gold fix Shanghai
Shanghai FIRST morning fix Feb 22/17 (10:15 pm est last night): $ 1245.45
NY ACCESS PRICE: $1236.40 (AT THE EXACT SAME TIME)/premium $9.05
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Shanghai SECOND afternoon fix: 2: 15 am est (second fix/early morning):$ 1246.39
NY ACCESS PRICE: $1235.00 (AT THE EXACT SAME TIME/2:15 am)
SPREAD/ 2ND FIX TODAY!!: 11.39
China rejects NY pricing of gold as a fraud/arbitrage will now commence fully
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London FIRST Fix: Feb 22/2017: 5:30 am est: $1237.50 (NY: same time: $1237.40 (5:30AM)
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London Second fix Feb 22.2017: 10 am est: $1236.65(NY same time: $1237.60 (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:
FEBRUARY/
NOTICES FILINGS FOR FEBRUARY CONTRACT MONTH: 24 NOTICE(S) FOR 2400 OZ. TOTAL NOTICES SO FAR: 5315 FOR 531,500 OZ (16.530 TONNES)
For silver:
For silver: FEBRUARY
52 NOTICES FILED FOR 260,000 OZ/
TOTAL NO OF NOTICES FILED: 465 FOR 2,325,000 OZ
This is options expiry week for both the silver and gold contracts. First day notice is this Tuesday, Feb 28.2017. Options will expire on the comex on Thursday and on the OTC market in London, early Tuesday morning. For the first time comex has silver in backwardation February/March by 2 cents. The open interest on the silver comex is now over 1 billion oz and no doubt that the London OTC is multiples of that. We will be watching this week with open eyes.
As for Agnico eagle I phoned the company and got complete clarification on what is going on. The company produced record amounts of gold throughout the year and including the 4th quarter. However the last shipment out of Meadowbank could not leave because of inclement weather. Thus the profit which would have occurred in the last quarter will be included in this quarter. There is absolutely nothing wrong with the earnings side of things and the production side of things except the crooks are short selling the stock because they cannot get a hold of real metal to short.
Let us have a look at the data for today
.
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In silver, the total open interest ROSE by 2545 contracts UP to 208,147 with respect to YESTERDAY’S TRADING. In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. 1.041 BILLION TO BE EXACT or 149% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT FEBRUARY MONTH: THEY FILED: 24 NOTICE(S) FOR 2400 OZ
In gold, the total comex gold FELL BY 2843 contracts WITH THE FALL IN THE PRICE GOLD ($0.10 with YESTERDAY’S trading ).The total gold OI stands at 427,168 contracts
we had 24 notice(s) filed upon for 2400 oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD:
We had no change in tonnes of gold at the GLD:
Inventory rests tonight: 841.17 tonnes
.
SLV
we had no changes in silver into the SLV:
THE SLV Inventory rests at: 335.281 million oz
end
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver ROSE by 2545 contracts UP to 208,147 AS SILVER WAS DOWN 3 CENTS with YESTERDAY’S trading. The gold open interest FELL by 2843 contracts DOWN to 428,168 WITH THE FALL IN THE PRICE OF GOLD OF $0.10 (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
3. ASIAN AFFAIRS
i)Late TUESDAY night/WEDNESDAY morning: Shanghai closed UP 7.89 POINTS OR .241%/ /Hang Sang CLOSED UP 238.33 POINTS OR 0.99% . The Nikkei closed UP 1.56 POINTS OR 0.01% /Australia’s all ordinaires CLOSED UP 0.25%/Chinese yuan (ONSHORE) closed UP at 6.8780/Oil FELL to 53.90 dollars per barrel for WTI and 56.27 for Brent. Stocks in Europe ALL MIXED. Offshore yuan trades 6.8590 yuan to the dollar vs 6.8780 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS A BIT AS POBC ATTEMPTS TO STOP USA DOLLARS FROM LEAVING CHINA’S SHORES. ONSHORE YUAN STRONGER AS IS OFFSHORE YUAN COUPLED WITH THE STRONGER DOLLAR
REPORT ON JAPAN SOUTH KOREA NORTH KOREA AND CHINA
3a)THAILAND/SOUTH KOREA/NORTH KOREA
none today
b) REPORT ON JAPAN
none today
c) REPORT ON CHINA
i)China is not happy that the USA carriers are patrolling the South China seas. This opens up a huge confrontation with China.
( zero hedge)
ii)China responds by deploying SAM batteries on the South China Sea islands..something that is annoying the Americans
( zero hedge)
4. EUROPEAN AFFAIRS
A flight to safety: German yields tumble especially on the 2yr and 10 yr as political fears grow. France: LePen, Germany: Schultz, and Holland: Wilder
( zero hedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
Now it is Iran’s turn to warn the USA: The enemy will receive a strong slap in the face. The uSA must be elated with the deal they have done with them;
( zero hedge)
6.GLOBAL ISSUES
A good look at what is going on inside Sweden. The author is stating that mainstream media is hiding the full picture and Trump is right about the immigrants. No doubt that the message is getting to France, Germany and Holland with their upcoming elections this year
( zero hedge)
7. OIL ISSUES
Oil rises a bit after a surprise inventory draw
( zero hedge)
8. EMERGING MARKETS
none today
9. PHYSICAL MARKETS
i)Fascinating: A Chinese firm Boyuan Mining company manufactured fake gold bars containing only 38% gold and the rest Tungsten. These bars were all used as collateral to get loans from several credit unions inside China. The total amount loaned out was 1.45 billion USA against this fake collateral
No gold entered the SGE which has strict rules on assays etc.
( Shanghai Daily/GATA)
ii)As I mentioned above, this is expiry option week. Options on the comex goes off the board on Thursday and on Tuesday morning for the OTC options. For the first time we are experiencing a 2 cent backwardation at the comex February over March. This means extreme shortage of metal. The open interest on the silver comex is now over 1 billion oz and the OTC levels are multiples of that. This is very dangerous as we will watch how this will play out this week.
a must read…
( James Turk/Kingworldnews)
iii)Craig Hemke details the silver fraud at the comex exactly the way I have described it to you over these past several months;
( Craig Hemke/TFMetals)
10.USA STORIES
i)The FOMC minutes hint at a hike fairly soon but they also warn that Trump’s policies may not materialize. They also claim that the VIX is too low.
March rate hike odds remained unchanged, the yield curve flattened and gold and silver rose
( zero hedge)
ii)The culture of banking officials for fraud strikes again. We now have 4 executives fired for the fake accounts scandal and no doubt there will be criminal charges especially now that the Trump administration has taken power in the USA
( Dugan)
iii)It sure looks like Trump wants to put more troops on the ground to defeat ISIS.
( Ron Paul)
iv)This is going to be exciting: James O’Keefe of Project Veritas is about to smoke CNN on Thursday:
( zero hedge)
v)This is a surprise; existing home sales jump a huge 3.3% well above the 1.1% estate despite rising rates: is the data cooked?
( zero hedge)
vi)My goodness: Trump calls the huge deficit spending by the USA has “out of control” and the pundits hardly flinched:
( zero hedge)
vii)This is what happens when you tax too much: that famous soda tax in Philadelphia has now caused a huge 30 to 50% plunge in sales and massive layoffs in the SUPERMARKET and other distributor sectors in the Philly area:
( zero hedge)
Let us head over to the comex:
The total gold comex open interest FELL BY 2,843 CONTRACTS UP to an OI level of 427,168 WITH THE FALL IN THE PRICE OF GOLD ( $0.10 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 187 contracts DOWN to 762. We had 146 notice(s) served upon yesterday and therefore we LOST 41 contracts or an additional 4100 oz will stand for delivery and IT LOOKS LIKE THE CASH SETTLEMENTS HAVE RESUMED FOR A FIAT PROFIT . The next non active contract month of March saw it’s OI FALL by 264 contracts DOWN TO 1616.The next big active month is April and here the OI FELL by 4102 contracts DOWN to 276,960.
We had 24 notice(s) filed upon today for 2400 oz
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And now for the wild silver comex results. Total silver OI ROSE by 2545 contracts FROM 205,602 UP TO 208,147 AS THE PRICE OF SILVER FELL TO THE TUNE OF 3 CENTS with respect to YESTERDAY’S trading. We are moving CLOSER TO 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 FALL BY 140 contract(s) DOWN TO 140. We had 3 notice(s) served YESTERDAY so we LOST 137 CONTRACTS or an additional 685,000 oz will NOT stand for delivery.
The next big active delivery month is March and here the OI decrease by 17,234 contracts down to 50,477 contracts. For comparison purposes last year on the same date only 43,487 contracts were standing.
We had 52 notice(s) filed for 260,000 oz for the FEBRUARY contract.
VOLUMES: for the gold comex
Today the estimated volume was 175,857 contracts which is fair.
Yesterday’s confirmed volume was 267,519 contracts which is very good
volumes on gold are getting higher!
INITIAL standings for FEBRUARY
Feb 22/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
62,823,054 OZ
HSBC
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
nil oz
No of oz served (contracts) today
24 notice(s)
2400 oz
No of oz to be served (notices)
738 contracts
73,800 oz
Total monthly oz gold served (contracts) so far this month
5315 notices
5315 oz
16.530 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 287,058.4 oz
Today we HAD 0 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 0 customer deposit(s):
total customer deposits; nil oz
We had 1 customer withdrawal(s)
i) Out of HSBC: 62,823.054 oz
total customer withdrawal: 62,823.054 oz
We had 0 adjustment(s)
For FEBRUARY:
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 24 contract(s) of which 10 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 (5315) x 100 oz or 531,500 oz, to which we add the difference between the open interest for the front month of FEBRUARY (762 contracts) minus the number of notices served upon today (24) x 100 oz per contract equals 605,300 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 (5315) x 100 oz or ounces + {(759)OI for the front month minus the number of notices served upon today (24) x 100 oz which equals 605,300 oz standing in this non active delivery month of FEBRUARY (18.827 tonnes)
we LOST 41 contracts or an additional 4100 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 16.530 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/ 18.827 tonnes
total for the 14 months; 244.822 tonnes
average 17.487 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 1,418,640.029 or 44.125 tonnes DEALER RAPIDLY LOSING GOLD
Total gold inventory (dealer and customer) = 8,878,394.428 or 276.155 tonnes
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 276.155 tonnes for a loss of 27 tonnes over that period. Since August 8/2016 we have lost 78 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 78 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE JANUARY DELIVERY MONTH
FEBRUARY INITIAL standings
feb 22. 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
621,777.460 0z
CNT
Brinks
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
nil oz
No of oz served today (contracts)
52 CONTRACT(S)
(260,000 OZ)
No of oz to be served (notices)
121 contracts
(605,000 oz)
Total monthly oz silver served (contracts) 465 contracts (2,325,000 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 6,683,347.0 oz
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 CNT: 618,885.260 oz
ii) Out of Brinks: 2892.20 oz
TOTAL CUSTOMER WITHDRAWALS: 621,777.460 oz
we had 0 customer deposit(s):
***deposits into JPMorgan have now stopped.
total customer deposits; nil oz
we had 2 adjustment(s)
i) Out of Brinks: 306,965.05 oz was adjusted out of the customer and this landed into the dealer account of Brinks
ii) Out of CNT: 251,817.400 oz was adjusted out of the customer account of CNT and this landed into the dealer account of CNT
The total number of notices filed today for the FEBRUARY. contract month is represented by 52 contract(s) for 260,000 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 465 x 5,000 oz = 2,325,000 oz to which we add the difference between the open interest for the front month of feb (173) and the number of notices served upon today (52) x 5000 oz equals the number of ounces standing
Thus the initial standings for silver for the FEBRUARY contract month: 465(notices served so far)x 5000 oz + OI for front month of FEB.( 173 ) -number of notices served upon today (52)x 5000 oz equals 2,930,000 oz of silver standing for the Feb contract month. This is huge for a non active delivery month in silver.
We LOST 137 contracts or an additional 685,000 oz will NOT stand for delivery.
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 100,207 which is gigantic!!!
FRIDAY’S confirmed volume was 158,100 contracts which is totally unbelievable.
To give you an idea of volume today’s confirmed volume:: 158,100 contracts equates to 790 million oz or 112% of ANNUAL GLOBAL PRODUCTION EX CHINA EX RUSSIA
Total dealer silver: 30.640 million (close to record low inventory
Total number of dealer and customer silver: 183.466 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
And now the Gold inventory at the GLD
FEB 22/no changes in gold inventory at the GLD/Inventory rests at 841.17 tonnes
FEB 21/no changes in gold inventory at the GLD/Inventory rests at 841.17 tonnes
feb 17/a withdrawal of 2.37 tonnes of gold from the GLD/Inventory rests at 841.17 tonnes
FEB 16/we had no changes in the GLD inventory today/Inventory rests at 843.54 tonnes
Feb 15./another deposit of 2.67 tonnes of gold into the GLD inventory despite another attempted whacking of gold/inventory rests at 843.54 tonnes
FEB 14/another deposit of 4.14 tonnes of gold into the GLD inventory/rests at 840.87 tonnes
FEB 13/another deposit of 4.15 tonnes of gold into the GLD/Inventory rests at 836.73 tonnes
Feb 10/no changes at the GLD/Inventory rests at 832.58 tonnes
feb 9/no changes at the GLD/Inventory rests at 832.58 tonnes
Feb 8/another “deposit” of 5.63 tonnes of gold into the GLD/The addition is a paper addition/total inventory: 832.58 tonnes
Feb 7/another huge fake deposit of 8.30 tonnes of gold into the GLD/the addition is a paper addition and no doubt not physical/ total inventory: 826.95 tonnes
FEB 6/a huge deposit of 7.43 tonnes of gold into the GLD/Inventory rests at 818.65 tonnes
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: 5.04 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
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Feb 22/2017/ Inventory rests tonight at 841.17 tonnes
*IN LAST 94 TRADING DAYS: 108.64 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 41 TRADING DAYS: A NET 16.57 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
*FROM FEB 1/2017: 42.10 TONNES HAVE BEEN ADDED.
end
Now the SLV Inventory
FEB 22/no changes in inventory at SLV/inventory rests at 335.281 million oz
FEB 21/a deposit of 568,000 oz into the SLV/Inventory rests at 335.281 million oz
feb 17/2017/again no changes in silver inventory at the SLV/Inventory rests at 334.713 million oz/
FEB 16/we had no changes in silver inventory at the SLV/Inventory rests at 334.713 million oz/
Feb 15./no changes in silver inventory at the SLV/inventory rests at 334.713 million oz
FEB 14/no changes in silver inventory at the SLV/Inventory rests at 334.713 million oz
FEB 13/no changes in silver inventory at the SLV/Inventory rests at 334.713 million oz
Feb 10/no change in silver inventory at the SLV/Inventory rests at 334.713 million oz
Feb 9/no changes in silver Inventory rests at 334.713 million oz
feb 8/No changes in inventory at the SLV/Inventory rests at 334.713 million oz
Feb 7/no change in inventory at the SLV/Inventory rests at 334.713 million oz
Feb 6/a we had no changes at the SLV/Inventory rests at 334.713 million oz
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/
.
Feb 22.2017: Inventory 335.281 million oz
end
NPV for Sprott and Central Fund of Canada
1. Central Fund of Canada: traded at Negative 8.0 percent to NAV usa funds and Negative 8.0% to NAV for Cdn funds!!!!
Percentage of fund in gold 60.3%
Percentage of fund in silver:39.5%
cash .+0.2%( feb 22/2017) .
2. Sprott silver fund (PSLV): Premium rises to -.20%!!!! NAV (Feb 22/2017)
3. Sprott gold fund (PHYS): premium to NAV rises TO – 0.26% to NAV ( feb 22/2017)
Note: Sprott silver trust back into NEGATIVE territory at -0.20% /Sprott physical gold trust is back into NEGATIVE territory at -0.26%/Central fund of Canada’s is still in jail.
www.silverdoctors.com/silver/silver-news/comex-silver-in-backwardation-harvey-organ/#more-76635
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Thanks Harvey & Doc Good Stuff <3
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some other good stuff here
MMgys
Embry notes desperation to keep silver below $18
Submitted by cpowell on Thu, 2017-02-23 18:57. Section: Daily Dispatches
1:59p ET Thursday, February 23, 2017
Dear Friend of GATA and Gold:
Interviewed by King World News today, Sprott Asset Management's John Embry notes the ever-more obvious and desperate efforts by bullion banks and central banks to keep silver below $18. Embry thinks silver is the most undervalued asset. He also reflects on his recent visit to Argentina. The interview is excerpted at KWN here:
http://kingworldnews.com/we-are-headed-for-something-disastrous-on-this-...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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London Metal Exchange cuts deal with banks to propel gold futures
Submitted by cpowell on Thu, 2017-02-23 12:45. Section: Daily Dispatches
By Peter Hobson
Reuters
Thursday, February 23, 2017
LONDON -- The London Metal Exchange has reached a 50:50 revenue-sharing deal with a company founded by a group of banks to promote trade in its new gold futures contracts, sources said, aiming to overcome market scepticism surrounding their launch in June.
Usually, exchanges merely consult potential users about their needs when planning new financial and commodity contracts. But in this case the LME has opted for a radical departure from normal practice as it tries to grab a piece of London's $5 trillion-a-year gold market.
Sources close to the matter told Reuters that the five banks and a proprietary trader that are shareholders in the new company have undertaken to bring guaranteed minimum levels of trade in the gold futures.
Should they meet these levels, the project partners will receive a half share of the revenue under an incentive scheme designed to ensure the contracts have turnover, viability, and credibility from the outset.
"We're all committed to market-making and will at least bring our own trading book," said a source at one of the banks involved in the project. "It'll come with some built-in volume." ...
... For the remainder of the report:
http://www.reuters.com/article/us-lme-precious-idUSKBN1620KW
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Jesses Pic Of The Day
http://jessescrossroadscafe.blogspot.com/
MMgys
Hey Night Owls
Good Morning !
~Welcome To
~*~Mining & Metals Du Jour~*~ Graveyard Shift~
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COMEX Silver In Backwardation! – Harvey Organ
Posted on February 23, 2017 by The Doc
For the first time COMEX has March Silver in Backwardation…
GOLD AND SILVER REBOUND ON FOMC MINUTES RELEASED AT 2 PM/GLD AND SLV INVENTORY REMAIN CONSTANT/GOLD AND SILVER EQUITY SHARES WHACKED/BOTH CHINA AND IRAN ANGRY AT THE USA/TRUMP NOW WORRIED ABOUT DEFICIT SPENDING AND YET THE DOW RISES??
Gold at (1:30 am est) $1232.00 DOWN $5.50
silver was : $17.94: DOWN 5 CENTS
Access market prices:
Gold: $1237.90
Silver: $18.03
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:
WEDNESDAY gold fix Shanghai
Shanghai FIRST morning fix Feb 22/17 (10:15 pm est last night): $ 1245.45
NY ACCESS PRICE: $1236.40 (AT THE EXACT SAME TIME)/premium $9.05
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Shanghai SECOND afternoon fix: 2: 15 am est (second fix/early morning):$ 1246.39
NY ACCESS PRICE: $1235.00 (AT THE EXACT SAME TIME/2:15 am)
SPREAD/ 2ND FIX TODAY!!: 11.39
China rejects NY pricing of gold as a fraud/arbitrage will now commence fully
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
London FIRST Fix: Feb 22/2017: 5:30 am est: $1237.50 (NY: same time: $1237.40 (5:30AM)
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
London Second fix Feb 22.2017: 10 am est: $1236.65(NY same time: $1237.60 (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:
FEBRUARY/
NOTICES FILINGS FOR FEBRUARY CONTRACT MONTH: 24 NOTICE(S) FOR 2400 OZ. TOTAL NOTICES SO FAR: 5315 FOR 531,500 OZ (16.530 TONNES)
For silver:
For silver: FEBRUARY
52 NOTICES FILED FOR 260,000 OZ/
TOTAL NO OF NOTICES FILED: 465 FOR 2,325,000 OZ
This is options expiry week for both the silver and gold contracts. First day notice is this Tuesday, Feb 28.2017. Options will expire on the comex on Thursday and on the OTC market in London, early Tuesday morning. For the first time comex has silver in backwardation February/March by 2 cents. The open interest on the silver comex is now over 1 billion oz and no doubt that the London OTC is multiples of that. We will be watching this week with open eyes.
As for Agnico eagle I phoned the company and got complete clarification on what is going on. The company produced record amounts of gold throughout the year and including the 4th quarter. However the last shipment out of Meadowbank could not leave because of inclement weather. Thus the profit which would have occurred in the last quarter will be included in this quarter. There is absolutely nothing wrong with the earnings side of things and the production side of things except the crooks are short selling the stock because they cannot get a hold of real metal to short.
Let us have a look at the data for today
.
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In silver, the total open interest ROSE by 2545 contracts UP to 208,147 with respect to YESTERDAY’S TRADING. In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. 1.041 BILLION TO BE EXACT or 149% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT FEBRUARY MONTH: THEY FILED: 24 NOTICE(S) FOR 2400 OZ
In gold, the total comex gold FELL BY 2843 contracts WITH THE FALL IN THE PRICE GOLD ($0.10 with YESTERDAY’S trading ).The total gold OI stands at 427,168 contracts
we had 24 notice(s) filed upon for 2400 oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD:
We had no change in tonnes of gold at the GLD:
Inventory rests tonight: 841.17 tonnes
.
SLV
we had no changes in silver into the SLV:
THE SLV Inventory rests at: 335.281 million oz
end
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver ROSE by 2545 contracts UP to 208,147 AS SILVER WAS DOWN 3 CENTS with YESTERDAY’S trading. The gold open interest FELL by 2843 contracts DOWN to 428,168 WITH THE FALL IN THE PRICE OF GOLD OF $0.10 (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
3. ASIAN AFFAIRS
i)Late TUESDAY night/WEDNESDAY morning: Shanghai closed UP 7.89 POINTS OR .241%/ /Hang Sang CLOSED UP 238.33 POINTS OR 0.99% . The Nikkei closed UP 1.56 POINTS OR 0.01% /Australia’s all ordinaires CLOSED UP 0.25%/Chinese yuan (ONSHORE) closed UP at 6.8780/Oil FELL to 53.90 dollars per barrel for WTI and 56.27 for Brent. Stocks in Europe ALL MIXED. Offshore yuan trades 6.8590 yuan to the dollar vs 6.8780 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS A BIT AS POBC ATTEMPTS TO STOP USA DOLLARS FROM LEAVING CHINA’S SHORES. ONSHORE YUAN STRONGER AS IS OFFSHORE YUAN COUPLED WITH THE STRONGER DOLLAR
REPORT ON JAPAN SOUTH KOREA NORTH KOREA AND CHINA
3a)THAILAND/SOUTH KOREA/NORTH KOREA
none today
b) REPORT ON JAPAN
none today
c) REPORT ON CHINA
i)China is not happy that the USA carriers are patrolling the South China seas. This opens up a huge confrontation with China.
( zero hedge)
ii)China responds by deploying SAM batteries on the South China Sea islands..something that is annoying the Americans
( zero hedge)
4. EUROPEAN AFFAIRS
A flight to safety: German yields tumble especially on the 2yr and 10 yr as political fears grow. France: LePen, Germany: Schultz, and Holland: Wilder
( zero hedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
Now it is Iran’s turn to warn the USA: The enemy will receive a strong slap in the face. The uSA must be elated with the deal they have done with them;
( zero hedge)
6.GLOBAL ISSUES
A good look at what is going on inside Sweden. The author is stating that mainstream media is hiding the full picture and Trump is right about the immigrants. No doubt that the message is getting to France, Germany and Holland with their upcoming elections this year
( zero hedge)
7. OIL ISSUES
Oil rises a bit after a surprise inventory draw
( zero hedge)
8. EMERGING MARKETS
none today
9. PHYSICAL MARKETS
i)Fascinating: A Chinese firm Boyuan Mining company manufactured fake gold bars containing only 38% gold and the rest Tungsten. These bars were all used as collateral to get loans from several credit unions inside China. The total amount loaned out was 1.45 billion USA against this fake collateral
No gold entered the SGE which has strict rules on assays etc.
( Shanghai Daily/GATA)
ii)As I mentioned above, this is expiry option week. Options on the comex goes off the board on Thursday and on Tuesday morning for the OTC options. For the first time we are experiencing a 2 cent backwardation at the comex February over March. This means extreme shortage of metal. The open interest on the silver comex is now over 1 billion oz and the OTC levels are multiples of that. This is very dangerous as we will watch how this will play out this week.
a must read…
( James Turk/Kingworldnews)
iii)Craig Hemke details the silver fraud at the comex exactly the way I have described it to you over these past several months;
( Craig Hemke/TFMetals)
10.USA STORIES
i)The FOMC minutes hint at a hike fairly soon but they also warn that Trump’s policies may not materialize. They also claim that the VIX is too low.
March rate hike odds remained unchanged, the yield curve flattened and gold and silver rose
( zero hedge)
ii)The culture of banking officials for fraud strikes again. We now have 4 executives fired for the fake accounts scandal and no doubt there will be criminal charges especially now that the Trump administration has taken power in the USA
( Dugan)
iii)It sure looks like Trump wants to put more troops on the ground to defeat ISIS.
( Ron Paul)
iv)This is going to be exciting: James O’Keefe of Project Veritas is about to smoke CNN on Thursday:
( zero hedge)
v)This is a surprise; existing home sales jump a huge 3.3% well above the 1.1% estate despite rising rates: is the data cooked?
( zero hedge)
vi)My goodness: Trump calls the huge deficit spending by the USA has “out of control” and the pundits hardly flinched:
( zero hedge)
vii)This is what happens when you tax too much: that famous soda tax in Philadelphia has now caused a huge 30 to 50% plunge in sales and massive layoffs in the SUPERMARKET and other distributor sectors in the Philly area:
( zero hedge)
Let us head over to the comex:
The total gold comex open interest FELL BY 2,843 CONTRACTS UP to an OI level of 427,168 WITH THE FALL IN THE PRICE OF GOLD ( $0.10 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 187 contracts DOWN to 762. We had 146 notice(s) served upon yesterday and therefore we LOST 41 contracts or an additional 4100 oz will stand for delivery and IT LOOKS LIKE THE CASH SETTLEMENTS HAVE RESUMED FOR A FIAT PROFIT . The next non active contract month of March saw it’s OI FALL by 264 contracts DOWN TO 1616.The next big active month is April and here the OI FELL by 4102 contracts DOWN to 276,960.
We had 24 notice(s) filed upon today for 2400 oz
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And now for the wild silver comex results. Total silver OI ROSE by 2545 contracts FROM 205,602 UP TO 208,147 AS THE PRICE OF SILVER FELL TO THE TUNE OF 3 CENTS with respect to YESTERDAY’S trading. We are moving CLOSER TO 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 FALL BY 140 contract(s) DOWN TO 140. We had 3 notice(s) served YESTERDAY so we LOST 137 CONTRACTS or an additional 685,000 oz will NOT stand for delivery.
The next big active delivery month is March and here the OI decrease by 17,234 contracts down to 50,477 contracts. For comparison purposes last year on the same date only 43,487 contracts were standing.
We had 52 notice(s) filed for 260,000 oz for the FEBRUARY contract.
VOLUMES: for the gold comex
Today the estimated volume was 175,857 contracts which is fair.
Yesterday’s confirmed volume was 267,519 contracts which is very good
volumes on gold are getting higher!
INITIAL standings for FEBRUARY
Feb 22/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
62,823,054 OZ
HSBC
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
nil oz
No of oz served (contracts) today
24 notice(s)
2400 oz
No of oz to be served (notices)
738 contracts
73,800 oz
Total monthly oz gold served (contracts) so far this month
5315 notices
5315 oz
16.530 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 287,058.4 oz
Today we HAD 0 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 0 customer deposit(s):
total customer deposits; nil oz
We had 1 customer withdrawal(s)
i) Out of HSBC: 62,823.054 oz
total customer withdrawal: 62,823.054 oz
We had 0 adjustment(s)
For FEBRUARY:
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 24 contract(s) of which 10 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 (5315) x 100 oz or 531,500 oz, to which we add the difference between the open interest for the front month of FEBRUARY (762 contracts) minus the number of notices served upon today (24) x 100 oz per contract equals 605,300 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 (5315) x 100 oz or ounces + {(759)OI for the front month minus the number of notices served upon today (24) x 100 oz which equals 605,300 oz standing in this non active delivery month of FEBRUARY (18.827 tonnes)
we LOST 41 contracts or an additional 4100 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 16.530 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/ 18.827 tonnes
total for the 14 months; 244.822 tonnes
average 17.487 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 1,418,640.029 or 44.125 tonnes DEALER RAPIDLY LOSING GOLD
Total gold inventory (dealer and customer) = 8,878,394.428 or 276.155 tonnes
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 276.155 tonnes for a loss of 27 tonnes over that period. Since August 8/2016 we have lost 78 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 78 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE JANUARY DELIVERY MONTH
FEBRUARY INITIAL standings
feb 22. 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
621,777.460 0z
CNT
Brinks
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
nil oz
No of oz served today (contracts)
52 CONTRACT(S)
(260,000 OZ)
No of oz to be served (notices)
121 contracts
(605,000 oz)
Total monthly oz silver served (contracts) 465 contracts (2,325,000 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 6,683,347.0 oz
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 CNT: 618,885.260 oz
ii) Out of Brinks: 2892.20 oz
TOTAL CUSTOMER WITHDRAWALS: 621,777.460 oz
we had 0 customer deposit(s):
***deposits into JPMorgan have now stopped.
total customer deposits; nil oz
we had 2 adjustment(s)
i) Out of Brinks: 306,965.05 oz was adjusted out of the customer and this landed into the dealer account of Brinks
ii) Out of CNT: 251,817.400 oz was adjusted out of the customer account of CNT and this landed into the dealer account of CNT
The total number of notices filed today for the FEBRUARY. contract month is represented by 52 contract(s) for 260,000 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 465 x 5,000 oz = 2,325,000 oz to which we add the difference between the open interest for the front month of feb (173) and the number of notices served upon today (52) x 5000 oz equals the number of ounces standing
Thus the initial standings for silver for the FEBRUARY contract month: 465(notices served so far)x 5000 oz + OI for front month of FEB.( 173 ) -number of notices served upon today (52)x 5000 oz equals 2,930,000 oz of silver standing for the Feb contract month. This is huge for a non active delivery month in silver.
We LOST 137 contracts or an additional 685,000 oz will NOT stand for delivery.
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 100,207 which is gigantic!!!
FRIDAY’S confirmed volume was 158,100 contracts which is totally unbelievable.
To give you an idea of volume today’s confirmed volume:: 158,100 contracts equates to 790 million oz or 112% of ANNUAL GLOBAL PRODUCTION EX CHINA EX RUSSIA
Total dealer silver: 30.640 million (close to record low inventory
Total number of dealer and customer silver: 183.466 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
And now the Gold inventory at the GLD
FEB 22/no changes in gold inventory at the GLD/Inventory rests at 841.17 tonnes
FEB 21/no changes in gold inventory at the GLD/Inventory rests at 841.17 tonnes
feb 17/a withdrawal of 2.37 tonnes of gold from the GLD/Inventory rests at 841.17 tonnes
FEB 16/we had no changes in the GLD inventory today/Inventory rests at 843.54 tonnes
Feb 15./another deposit of 2.67 tonnes of gold into the GLD inventory despite another attempted whacking of gold/inventory rests at 843.54 tonnes
FEB 14/another deposit of 4.14 tonnes of gold into the GLD inventory/rests at 840.87 tonnes
FEB 13/another deposit of 4.15 tonnes of gold into the GLD/Inventory rests at 836.73 tonnes
Feb 10/no changes at the GLD/Inventory rests at 832.58 tonnes
feb 9/no changes at the GLD/Inventory rests at 832.58 tonnes
Feb 8/another “deposit” of 5.63 tonnes of gold into the GLD/The addition is a paper addition/total inventory: 832.58 tonnes
Feb 7/another huge fake deposit of 8.30 tonnes of gold into the GLD/the addition is a paper addition and no doubt not physical/ total inventory: 826.95 tonnes
FEB 6/a huge deposit of 7.43 tonnes of gold into the GLD/Inventory rests at 818.65 tonnes
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: 5.04 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
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Feb 22/2017/ Inventory rests tonight at 841.17 tonnes
*IN LAST 94 TRADING DAYS: 108.64 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 41 TRADING DAYS: A NET 16.57 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
*FROM FEB 1/2017: 42.10 TONNES HAVE BEEN ADDED.
end
Now the SLV Inventory
FEB 22/no changes in inventory at SLV/inventory rests at 335.281 million oz
FEB 21/a deposit of 568,000 oz into the SLV/Inventory rests at 335.281 million oz
feb 17/2017/again no changes in silver inventory at the SLV/Inventory rests at 334.713 million oz/
FEB 16/we had no changes in silver inventory at the SLV/Inventory rests at 334.713 million oz/
Feb 15./no changes in silver inventory at the SLV/inventory rests at 334.713 million oz
FEB 14/no changes in silver inventory at the SLV/Inventory rests at 334.713 million oz
FEB 13/no changes in silver inventory at the SLV/Inventory rests at 334.713 million oz
Feb 10/no change in silver inventory at the SLV/Inventory rests at 334.713 million oz
Feb 9/no changes in silver Inventory rests at 334.713 million oz
feb 8/No changes in inventory at the SLV/Inventory rests at 334.713 million oz
Feb 7/no change in inventory at the SLV/Inventory rests at 334.713 million oz
Feb 6/a we had no changes at the SLV/Inventory rests at 334.713 million oz
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/
.
Feb 22.2017: Inventory 335.281 million oz
end
NPV for Sprott and Central Fund of Canada
1. Central Fund of Canada: traded at Negative 8.0 percent to NAV usa funds and Negative 8.0% to NAV for Cdn funds!!!!
Percentage of fund in gold 60.3%
Percentage of fund in silver:39.5%
cash .+0.2%( feb 22/2017) .
2. Sprott silver fund (PSLV): Premium rises to -.20%!!!! NAV (Feb 22/2017)
3. Sprott gold fund (PHYS): premium to NAV rises TO – 0.26% to NAV ( feb 22/2017)
Note: Sprott silver trust back into NEGATIVE territory at -0.20% /Sprott physical gold trust is back into NEGATIVE territory at -0.26%/Central fund of Canada’s is still in jail.
www.silverdoctors.com/silver/silver-news/comex-silver-in-backwardation-harvey-organ/#more-76635
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Thanks Harvey & Doc Good Stuff <3
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some other good stuff here
MMgys
BB King Ushers In Friday 4:15
Embry notes desperation to keep silver below $18
Submitted by cpowell on Thu, 2017-02-23 18:57. Section: Daily Dispatches
1:59p ET Thursday, February 23, 2017
Dear Friend of GATA and Gold:
Interviewed by King World News today, Sprott Asset Management's John Embry notes the ever-more obvious and desperate efforts by bullion banks and central banks to keep silver below $18. Embry thinks silver is the most undervalued asset. He also reflects on his recent visit to Argentina. The interview is excerpted at KWN here:
http://kingworldnews.com/we-are-headed-for-something-disastrous-on-this-...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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London Metal Exchange cuts deal with banks to propel gold futures
Submitted by cpowell on Thu, 2017-02-23 12:45. Section: Daily Dispatches
By Peter Hobson
Reuters
Thursday, February 23, 2017
LONDON -- The London Metal Exchange has reached a 50:50 revenue-sharing deal with a company founded by a group of banks to promote trade in its new gold futures contracts, sources said, aiming to overcome market scepticism surrounding their launch in June.
Usually, exchanges merely consult potential users about their needs when planning new financial and commodity contracts. But in this case the LME has opted for a radical departure from normal practice as it tries to grab a piece of London's $5 trillion-a-year gold market.
Sources close to the matter told Reuters that the five banks and a proprietary trader that are shareholders in the new company have undertaken to bring guaranteed minimum levels of trade in the gold futures.
Should they meet these levels, the project partners will receive a half share of the revenue under an incentive scheme designed to ensure the contracts have turnover, viability, and credibility from the outset.
"We're all committed to market-making and will at least bring our own trading book," said a source at one of the banks involved in the project. "It'll come with some built-in volume." ...
... For the remainder of the report:
http://www.reuters.com/article/us-lme-precious-idUSKBN1620KW
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Jesses Pic Of The Day
http://jessescrossroadscafe.blogspot.com/
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