Friday, March 10, 2017 12:02:18 AM
Just Stuff
CQs
Non-Farm Payrolls Tomorrow - Don't Fear the Reaper
As you may have noted from the side links last night the Sprott Funds have made an unsolicited takeover bid for the Central Funds of Canada. They are obviously eyeing that gold and silver bullion priced at a good discount to net asset value.
I have included the fifteen minute chart for trading in CEF for the last two days below. I wonder how many shorts were caught a bit in this surprise offer?
Gold and silver fell again today, along with the dollar DX index, while volatility VIX was up again.
If these markets are honest and efficient, then I am the king of Siam. And if you think Swamp-Drainer is going to do anything about reforming the financial markets and the Banks, then you might be greatly mistaken.
Tomorrow will be the Non-Farm Payrolls report, made all the more important because of the FOMC meeting this month. It is widely thought that the Fed will raise 25 bp. But there may be more focus on anything they say about what they might do next.
These are crazy weather times here, fitting well with the lunacy in our national capital. Today it is almost 70 degrees, but tomorrow we are expecting six inches of snow. And next week early they are forecasting a nor'easter that may bring a foot of snow to the east coast.
Have a pleasant evening.
http://jessescrossroadscafe.blogspot.com/
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Gold & Silver Whacked Again! – Harvey Organ
Posted on March 9, 2017 by The Doc
When Will It End? GOLD AND SILVER WHACKED AGAIN!
GOLD AND SILVER WHACKED AGAIN DUE TO SILVER’S ELEVATED COMEX OI/CHINA SUFFERS’ FIRST TRADE DEFICIT IN 3 YEARS/CRUDE OIL CLOBBERED TODAY AS WELL AS THE DOW/SPROTT MAKES TAKEOVER BID FOR CENTRAL FUND OF CANADA/USA PRODUCTIVITY IN 4TH Q FALTERS AGAIN/USA WHOLESALE INVENTORIES PLUMMET BY .2%/WHOLESALE REVENUES ALSO PLUMMET WHICH WILL BE A NEGATIVE TO FIRST QUARTER GDP
Gold: $1208.50 down $6.60
Silver: $17.26 down 23 cents
Closing access prices:
Gold $1208.50
silver: $17.27
For comex gold:
MARCH/
NOTICES FILINGS TODAY FOR MARCH CONTRACT MONTH: 1 NOTICE(S) FOR 100 OZ. TOTAL NOTICES SO FAR: 47 FOR 4700 OZ (0.1462 TONNES)
For silver:
For silver: MARCH
131 NOTICES FILED TODAY FOR 655,000 OZ/
Total number of notices filed so far this month: 1905 for 9,525,000
Let us have a look at the data for today
.
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In silver, the total open interest FELL by ONLY 1449 contract DOWN to 192,398 with respect to YESTERDAY’S TRADING. In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. 0.961 BILLION TO BE EXACT or 137% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MARCH MONTH: THEY FILED: 131 NOTICE(S) FOR 565,000 OZ OF SILVER
In gold, the total comex gold FELL BY A CONSIDERABLE 5587 contracts WITH ANOTHER FALL IN THE PRICE GOLD ($9.00 with YESTERDAY’S trading ).The total gold OI stands at 434.401 contracts.
we had 1 notice(s) filed upon for 100 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: 836.77 tonnes
.
SLV
We had a big change in inventory at the SLV/a withdrawal of 1.515 million oz from the SLV
THE SLV Inventory rests at: 331.273 million oz
end
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver FELL by ONLY 1449 contracts DOWN to 192,398 AS SILVER WAS DOWN 18 CENTS with YESTERDAY’S trading. The gold open interest FELL BY 5587 contracts DOWN to 434,401 WITH ANOTHER FALL IN THE PRICE OF GOLD OF $9.00 (YESTERDAY’S TRADING). It sure looks like Ted Butler is correct in that hedge funds are now longer playing the game. They refuse to liquidate their longs on continual raids orchestrated by the bankers
(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 DOWN 1.74 POINTS OR .05%/ /Hang Sang CLOSED UP 101.20 POINTS OR 0.43% . The Nikkei closed DOWN 90.12 POINTS OR 0.47% /Australia’s all ordinaires CLOSED DOWN 0.04%/Chinese yuan (ONSHORE) closed DOWN at 6.9103/Oil FELL to 52.60 dollars per barrel for WTI and 55.33 for Brent. Stocks in Europe ALL MOSTLY IN THE RED ..Offshore yuan trades 6.9162 yuan to the dollar vs 6.9103 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE WIDENS CONSIDERABLY/ ONSHORE YUAN WEAKER AS IS THE OFFSHORE YUAN COUPLED WITH THE STRONGER DOLLAR. CHINA SENDS A MESSAGE TO THE USA NOT TO RAISE RATES
3a)THAILAND/SOUTH KOREA/NORTH KOREA
b) REPORT ON JAPAN
none today
c) REPORT ON CHINA
China suffers her first trade deficit in 3 years as imports rise by 44% and exports up only 4%
(courtesy zero hedge)
4. EUROPEAN AFFAIRS
none today
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
none today
6.GLOBAL ISSUES
i)SWEDEN
Sweden is in a mess: in the town of Hallsberg, Sweden a brawl broke out between two migrant groups at a school of which none of the migrants attend:
( zero hedge)
ii)MEXICO
It is Mexico that fires first as they cancel the huge sugar export permit to the USA:
( zero hedge)
7. OIL ISSUES
i)API reports that we had a surge in gasoline draws despite a record crude glut. Up goes crude prices. This is getting ridiculous as the banker boys are manipulating oil/
( zerohedge)
ii)Then oil; tanks into the 51 dollar handle
( zero hedge)
iii)Then crude crashed into the 50 column;
( zerohedge)
8. EMERGING MARKETS
9. PHYSICAL MARKETS
i)This Singapore trader has amassed 6 million tonnes of sugar and as such these guys are controlling the market:
( zero hedge)
ii)Good luck to Mexico trying to get their gold back. All of it is located at the Bank of England with 1/4 of this amt in ” non allocated” form.
(GATA/Barba)
iii)Ronan Manly agrees with Bix Weir on the odd withdrawal of Thomson Reuters and the CME from the silver fix
( Ronan Manly/Bullionstar)
iv)Hugo states correctly that if the uSA undergoes protectionism there will be a massive dollar shortage and thus there will be a need to replace the dollar as the reserve currency
(Hugo Salinas Price)
v)Seems that the Deputy Governor of the Bank of England forgot to tell them that her brother has a chief role at Barclay’s
( London Telegraph)
vi) Sprott to take over Central Fund of Canada. It was about time!!
(Sprott)
10.USA STORIES
i) I would not read anything in this phony ADP report:
( zero hedge/ADP)
ii)This will be troublesome to Janet: USA 4th quarter productivity slumped to only 1.3% instead of 1.5% expected.
( zerohedge)
iii)This will be a huge negative to first quarter GDP figures: Wholesale inventories tumble at a huge .2% decline. Not only that but wholesale sales also tumble:
( zero hedge)
iv)Professor Leslie Robinson an accounting professor at Tuck School of Business at Dartmouth has accused Caterpillar of carrying of tax and accounting fraud
( zero hedge)
v)This is interesting: The Republican House Intelligence Committee is asking Comey and others for a hearing of the supposed Russian hacking of the uSA election:
( zero hedge)
vi)The bond king, Jeff Gundlach states that the US will continue to hike rates until the markets break. He thinks it is a far better move to short German bunds:
( zero hedge)
vii)That did not take long: The Atlanta Fed lowers first quarter GDP estimates to only 1.2% due to the poor business inventories reading/and sales
( zero hedge)
Let us head over to the comex:
The total gold comex open interest FELL BY 5587 CONTRACTS DOWN to an OI level of 434,401 WITH THE FALL IN THE PRICE OF GOLD ( $9.00 with YESTERDAY’S trading). We are now in the contract month of MARCH and it is one of the poorer delivery months of the year. In this MARCH delivery month we had a GAIN of 15 contract(s) UP to 72. We had 1 contact(s) served upon yesterday, so we GAINED 16 CONTRACTS or AN ADDITIONAL 1600 ounces will stand for delivery. The next active contract month is April and here we saw it’s OI FALL by 14,706 contracts DOWN TO 243,246 contracts.
For comparison purposes, the April 2016 contract at this time had an OI of 301,376 contracts. At the end of April/2016 only 12.3917 tonnes stood for physical delivery, although 21.306 tonnes stood initially at the beginning of April 2016.
The non active May contract month lost 1 contract(s) and thus its OI is 413 contracts. The next big active month is June and here the OI ROSE by 8402 contracts up to 109,364.
We had 1 notice(s) filed upon today for 100 oz
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And now for the wild silver comex results. Total silver OI FELL BY 1,449 contracts FROM 193,847 UP TO 192,398 CONTRACTS WITH YESTERDAY’S TRADING . It sure seems that the hedge funds are now longer playing the game as they refuse to liquidate their silver longs.We are moving CLOSER TO the all time record high for silver open interest set on Wednesday August 3/2016: (224,540). The closing price of silver that day: $20.44
We are in the active delivery month is March and here the OI decreased by 15 contracts down to 2250 contracts. We had 11 notices served upon yesterday so we lost 4 contract(s) or an additional 20,000 oz will not stand for delivery.
For historical reference: on the first day notice for the March/2016 silver contract: 19,020,000 oz stood for delivery . However the final amount standing at the end of March 2016: 6,755,000 oz as the banker boys were busy convincing holders of many silver contracts to cash settle just like they did today.
The April/2017 contract month GAINED 10 contracts to 925 contracts. The next active contract month is May and here the open interest LOST 1676 contracts DOWN to 151,609 contracts.
FOR COMPARISON
Initially for the April 2016 contract, 1,180,000 oz stood for delivery. At the end of April 2016: 6,775,000 oz as bankers needed much silver to fill major holes elsewhere.
We had 131 notice(s) filed for 655,0000 oz for the MARCH 2017 contract.
VOLUMES: for the gold comex
Today the estimated volume was 120,493 contracts which is poor.
Yesterday’s confirmed volume was 239,886 contracts which is good
volumes on gold are getting higher!
INITIAL standings for MARCH
March 8/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
32310.75 OZ
Scotia
Manfra
1005 kilobars
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
nil oz
No of oz served (contracts) today
1 notice(s)
100 oz
No of oz to be served (notices)
71 contracts
7100 oz
Total monthly oz gold served (contracts) so far this month
47 notices
4600 oz
0.1462 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 50,443.5 oz
This is very strange: now for many days, nothing of substance enters the comex vaults. They must have problems locating physical just like the LBMA>
Today we HAD 2 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 2 customer withdrawal(s)
i) Out of Scotia: 32,150.000 oz 1000 kilobars
ii) Out of Manfra: 160.75 oz (5 kilobars)
total customer withdrawal: 32,310.75 oz
1005 kilobars
We had 0 adjustment(s)
For MARCH:
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 1 contract(s) of which 0 notices were stopped (received) by jPMorgan dealer and 0 notice(s) was (were) stopped/ Received) by jPMorgan customer account.
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To calculate the initial total number of gold ounces standing for the MARCH. contract month, we take the total number of notices filed so far for the month (47) x 100 oz or 4700 oz, to which we add the difference between the open interest for the front month of MARCH (72 contracts) minus the number of notices served upon today (1) x 100 oz per contract equals 11,800 oz, the number of ounces standing in this NON active month of MARCH.
Thus the INITIAL standings for gold for the MARCH contract month:
No of notices served so far (47) x 100 oz or ounces + {(72)OI for the front month minus the number of notices served upon today (1) x 100 oz which equals 11,800 oz standing in this non active delivery month of MARCH (.3670 tonnes)
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On first day notice for MARCH 2016, we had 2.146 tonnes of gold standing. At the conclusion of the month we had 2.311 tonnes standing.
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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/ 18.734 tonnes
March: 0.3670 tonnes
total for the 15 months; 244.627 tonnes
average 16.308 tonnes per month vs last yr 61.82 tonnes total for 15 months or 4.12 tonnes average per month (last yr).
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Total dealer inventory 1,419,840.049 or 44.162 tonnes DEALER RAPIDLY LOSING GOLD
Total gold inventory (dealer and customer) = 8,894,600.148 or 276.665 tonnes
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 276.665 tonnes for a loss of 26 tonnes over that period. Since August 8/2016 we have lost 77 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 77 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE MARCH DELIVERY MONTH
MARCH INITIAL standings
March 8. 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
334,727.106 oz
Delaware
CNT
Scotia
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
nil oz
No of oz served today (contracts)
131 CONTRACT(S)
(565,000 OZ)
No of oz to be served (notices)
2119 contracts
(10,595,000 oz)
Total monthly oz silver served (contracts) 1905 contracts (9,525,000 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 2,068,984.1 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 3 customer withdrawal(s):
i) Out of Delaware: 4,083.366 oz
ii) Out of CNT: 20,023.180 oz
iii) Out of Scotia: 310,620.56 oz
TOTAL CUSTOMER WITHDRAWALS: 334,727.106 oz
we had 0 customer deposit(s):
***deposits into JPMorgan have now stopped.
total customer deposits; nil oz
we had 1 adjustment(s)
i)Out of CNT:
647,911.650 oz was adjusted out of the customer and this landed into the dealer account of CNT
The total number of notices filed today for the MARCH. contract month is represented by 131 contract(s) for 565,000 oz. To calculate the number of silver ounces that will stand for delivery in MARCH., we take the total number of notices filed for the month so far at 1905 x 5,000 oz = 9,525,000 oz to which we add the difference between the open interest for the front month of MAR (2250) and the number of notices served upon today (131) x 5000 oz equals the number of ounces standing
Thus the initial standings for silver for the March contract month: 1905(notices served so far)x 5000 oz + OI for front month of Mar.( 2250 ) -number of notices served upon today (131)x 5000 oz equals 20,115,000 oz of silver standing for the Mar contract month. This is now average for an active delivery month in silver. We lost 4 contracts or an additional 20,000 oz will not stand.
END
Volumes: for silver comex
Today the estimated volume was 29,991 which is poor!!!
Yesterday’s confirmed volume was 59,222 contracts which is very good.
Total dealer silver: 36.112 million (close to record low inventory
Total number of dealer and customer silver: 187.952 million oz
The total open interest on silver is now further 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
March 8/no change in gold inventory at the GLD/inventory rests at 836.77 tones
march 7/a huge withdrawal of 3.81 tonnes from the GLD inventory/inventory rests at 836.77 tonnes
March 6/No change in gold inventory at the GLD/Inventory rests at 840.58 tonnes
March 3/ a huge withdrawal of 2.96 tonnes of gold from the GLD/Inventory rests at 840.58 tonnes
March 2/a deposit of 2.37 tonnes of gold into the GLD/Inventory rests tat 843.54 tonnes
March 1/no change in gold inventory at the GLD/Inventory rests at 841.17 tonnes
FEB 28/no changes in gold inventory at the GLD/Inventory rests at 841.17 tonnes
feb 27/no change in gold inventory at the GLD/Inventory rests at 841.17 tonnes
Feb 24/no changes in gold inventory at the GLD/Inventory rests at 841.17 tonnes
FEB 23/no changes in gold inventory at the GLD/Inventory rests at 841.17 tonnes
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.
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March 8 /2017/ Inventory rests tonight at 836.77 tonnes
*IN LAST 105 TRADING DAYS: 113.04 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 51 TRADING DAYS: A NET 12.17 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
*FROM FEB 1/2017: a net 37.60 TONNES HAVE BEEN ADDED.
end
Now the SLV Inventory
March 8/a big change; a withdrawal of 1.515 million oz from the SLV/Inventory rests at 331.273 million oz/
march 7/no change in inventory at the SLV/Inventory rest at 332.788 million oz/
March 6/no change in inventory at the SLV/Inventory rests at 332.788 million oz/
March 3: two transactions:
i)March 3/ a small change, a withdrawal of 125,000 oz and this would be to pay for fees like insurance, storage etc/inventory now stands at 335.156 million oz.
ii) a huge withdrawal of 2.368 million oz/inventory rests this weekend at 332.788 million oz
March 2/no changes in silver inventory (despite the raid) at the SLV/Inventory rests at 335.281 million oz
March 1/no changes in inventory at the SLV/Inventory rests at 335.281 million oz/
FEB 28/no changes in inventor at the SLV/inventory rests at 335.281 million oz/
FEB 27/no change in inventory at the SLV/Inventory rests at 335.281 million oz/
FEB 24/no changes in inventory at the SLV/Inventory rests at 335.281 million oz.
FEB 23/no changes in inventory at the SLV/Inventory rests at 335.281 million oz
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
.
March 8.2017: Inventory 331.273 million oz
end
NPV for Sprott and Central Fund of Canada
will update later tonight the central fund of Canada figures
1. Central Fund of Canada: traded at Negative 5.0 percent to NAV usa funds and Negative 5.2% to NAV for Cdn funds!!!!
Percentage of fund in gold 60.5%
Percentage of fund in silver:39.4%
cash .+0.1%( Mar 8/2017)
2. Sprott silver fund (PSLV): Premium RISES to -.02%!!!! NAV (Mar 8/2017)
3. Sprott gold fund (PHYS): premium to NAV RISES to – 0.24% to NAV ( Mar 8/2017)
Note: Sprott silver trust back into NEGATIVE territory at -0.24% /Sprott physical gold trust is back into NEGATIVE territory at -0.24%/Central fund of Canada’s is still in jail but being rescued by Sprott.
http://www.silverdoctors.com/silver/silver-news/gold-silver-whacked-again-harvey-organ-2/#more-76949
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Thanks Harvey & Doc Thanks Jesse
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CQs
Hope you have a Nice Weekend on Tap
CQs
Good Morning Captains
Non-Farm Payrolls Tomorrow - Don't Fear the Reaper
As you may have noted from the side links last night the Sprott Funds have made an unsolicited takeover bid for the Central Funds of Canada. They are obviously eyeing that gold and silver bullion priced at a good discount to net asset value.
I have included the fifteen minute chart for trading in CEF for the last two days below. I wonder how many shorts were caught a bit in this surprise offer?
Gold and silver fell again today, along with the dollar DX index, while volatility VIX was up again.
If these markets are honest and efficient, then I am the king of Siam. And if you think Swamp-Drainer is going to do anything about reforming the financial markets and the Banks, then you might be greatly mistaken.
Tomorrow will be the Non-Farm Payrolls report, made all the more important because of the FOMC meeting this month. It is widely thought that the Fed will raise 25 bp. But there may be more focus on anything they say about what they might do next.
These are crazy weather times here, fitting well with the lunacy in our national capital. Today it is almost 70 degrees, but tomorrow we are expecting six inches of snow. And next week early they are forecasting a nor'easter that may bring a foot of snow to the east coast.
Have a pleasant evening.
http://jessescrossroadscafe.blogspot.com/
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Gold & Silver Whacked Again! – Harvey Organ
Posted on March 9, 2017 by The Doc
When Will It End? GOLD AND SILVER WHACKED AGAIN!
GOLD AND SILVER WHACKED AGAIN DUE TO SILVER’S ELEVATED COMEX OI/CHINA SUFFERS’ FIRST TRADE DEFICIT IN 3 YEARS/CRUDE OIL CLOBBERED TODAY AS WELL AS THE DOW/SPROTT MAKES TAKEOVER BID FOR CENTRAL FUND OF CANADA/USA PRODUCTIVITY IN 4TH Q FALTERS AGAIN/USA WHOLESALE INVENTORIES PLUMMET BY .2%/WHOLESALE REVENUES ALSO PLUMMET WHICH WILL BE A NEGATIVE TO FIRST QUARTER GDP
Gold: $1208.50 down $6.60
Silver: $17.26 down 23 cents
Closing access prices:
Gold $1208.50
silver: $17.27
For comex gold:
MARCH/
NOTICES FILINGS TODAY FOR MARCH CONTRACT MONTH: 1 NOTICE(S) FOR 100 OZ. TOTAL NOTICES SO FAR: 47 FOR 4700 OZ (0.1462 TONNES)
For silver:
For silver: MARCH
131 NOTICES FILED TODAY FOR 655,000 OZ/
Total number of notices filed so far this month: 1905 for 9,525,000
Let us have a look at the data for today
.
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In silver, the total open interest FELL by ONLY 1449 contract DOWN to 192,398 with respect to YESTERDAY’S TRADING. In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. 0.961 BILLION TO BE EXACT or 137% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MARCH MONTH: THEY FILED: 131 NOTICE(S) FOR 565,000 OZ OF SILVER
In gold, the total comex gold FELL BY A CONSIDERABLE 5587 contracts WITH ANOTHER FALL IN THE PRICE GOLD ($9.00 with YESTERDAY’S trading ).The total gold OI stands at 434.401 contracts.
we had 1 notice(s) filed upon for 100 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: 836.77 tonnes
.
SLV
We had a big change in inventory at the SLV/a withdrawal of 1.515 million oz from the SLV
THE SLV Inventory rests at: 331.273 million oz
end
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver FELL by ONLY 1449 contracts DOWN to 192,398 AS SILVER WAS DOWN 18 CENTS with YESTERDAY’S trading. The gold open interest FELL BY 5587 contracts DOWN to 434,401 WITH ANOTHER FALL IN THE PRICE OF GOLD OF $9.00 (YESTERDAY’S TRADING). It sure looks like Ted Butler is correct in that hedge funds are now longer playing the game. They refuse to liquidate their longs on continual raids orchestrated by the bankers
(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 DOWN 1.74 POINTS OR .05%/ /Hang Sang CLOSED UP 101.20 POINTS OR 0.43% . The Nikkei closed DOWN 90.12 POINTS OR 0.47% /Australia’s all ordinaires CLOSED DOWN 0.04%/Chinese yuan (ONSHORE) closed DOWN at 6.9103/Oil FELL to 52.60 dollars per barrel for WTI and 55.33 for Brent. Stocks in Europe ALL MOSTLY IN THE RED ..Offshore yuan trades 6.9162 yuan to the dollar vs 6.9103 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE WIDENS CONSIDERABLY/ ONSHORE YUAN WEAKER AS IS THE OFFSHORE YUAN COUPLED WITH THE STRONGER DOLLAR. CHINA SENDS A MESSAGE TO THE USA NOT TO RAISE RATES
3a)THAILAND/SOUTH KOREA/NORTH KOREA
b) REPORT ON JAPAN
none today
c) REPORT ON CHINA
China suffers her first trade deficit in 3 years as imports rise by 44% and exports up only 4%
(courtesy zero hedge)
4. EUROPEAN AFFAIRS
none today
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
none today
6.GLOBAL ISSUES
i)SWEDEN
Sweden is in a mess: in the town of Hallsberg, Sweden a brawl broke out between two migrant groups at a school of which none of the migrants attend:
( zero hedge)
ii)MEXICO
It is Mexico that fires first as they cancel the huge sugar export permit to the USA:
( zero hedge)
7. OIL ISSUES
i)API reports that we had a surge in gasoline draws despite a record crude glut. Up goes crude prices. This is getting ridiculous as the banker boys are manipulating oil/
( zerohedge)
ii)Then oil; tanks into the 51 dollar handle
( zero hedge)
iii)Then crude crashed into the 50 column;
( zerohedge)
8. EMERGING MARKETS
9. PHYSICAL MARKETS
i)This Singapore trader has amassed 6 million tonnes of sugar and as such these guys are controlling the market:
( zero hedge)
ii)Good luck to Mexico trying to get their gold back. All of it is located at the Bank of England with 1/4 of this amt in ” non allocated” form.
(GATA/Barba)
iii)Ronan Manly agrees with Bix Weir on the odd withdrawal of Thomson Reuters and the CME from the silver fix
( Ronan Manly/Bullionstar)
iv)Hugo states correctly that if the uSA undergoes protectionism there will be a massive dollar shortage and thus there will be a need to replace the dollar as the reserve currency
(Hugo Salinas Price)
v)Seems that the Deputy Governor of the Bank of England forgot to tell them that her brother has a chief role at Barclay’s
( London Telegraph)
vi) Sprott to take over Central Fund of Canada. It was about time!!
(Sprott)
10.USA STORIES
i) I would not read anything in this phony ADP report:
( zero hedge/ADP)
ii)This will be troublesome to Janet: USA 4th quarter productivity slumped to only 1.3% instead of 1.5% expected.
( zerohedge)
iii)This will be a huge negative to first quarter GDP figures: Wholesale inventories tumble at a huge .2% decline. Not only that but wholesale sales also tumble:
( zero hedge)
iv)Professor Leslie Robinson an accounting professor at Tuck School of Business at Dartmouth has accused Caterpillar of carrying of tax and accounting fraud
( zero hedge)
v)This is interesting: The Republican House Intelligence Committee is asking Comey and others for a hearing of the supposed Russian hacking of the uSA election:
( zero hedge)
vi)The bond king, Jeff Gundlach states that the US will continue to hike rates until the markets break. He thinks it is a far better move to short German bunds:
( zero hedge)
vii)That did not take long: The Atlanta Fed lowers first quarter GDP estimates to only 1.2% due to the poor business inventories reading/and sales
( zero hedge)
Let us head over to the comex:
The total gold comex open interest FELL BY 5587 CONTRACTS DOWN to an OI level of 434,401 WITH THE FALL IN THE PRICE OF GOLD ( $9.00 with YESTERDAY’S trading). We are now in the contract month of MARCH and it is one of the poorer delivery months of the year. In this MARCH delivery month we had a GAIN of 15 contract(s) UP to 72. We had 1 contact(s) served upon yesterday, so we GAINED 16 CONTRACTS or AN ADDITIONAL 1600 ounces will stand for delivery. The next active contract month is April and here we saw it’s OI FALL by 14,706 contracts DOWN TO 243,246 contracts.
For comparison purposes, the April 2016 contract at this time had an OI of 301,376 contracts. At the end of April/2016 only 12.3917 tonnes stood for physical delivery, although 21.306 tonnes stood initially at the beginning of April 2016.
The non active May contract month lost 1 contract(s) and thus its OI is 413 contracts. The next big active month is June and here the OI ROSE by 8402 contracts up to 109,364.
We had 1 notice(s) filed upon today for 100 oz
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And now for the wild silver comex results. Total silver OI FELL BY 1,449 contracts FROM 193,847 UP TO 192,398 CONTRACTS WITH YESTERDAY’S TRADING . It sure seems that the hedge funds are now longer playing the game as they refuse to liquidate their silver longs.We are moving CLOSER TO the all time record high for silver open interest set on Wednesday August 3/2016: (224,540). The closing price of silver that day: $20.44
We are in the active delivery month is March and here the OI decreased by 15 contracts down to 2250 contracts. We had 11 notices served upon yesterday so we lost 4 contract(s) or an additional 20,000 oz will not stand for delivery.
For historical reference: on the first day notice for the March/2016 silver contract: 19,020,000 oz stood for delivery . However the final amount standing at the end of March 2016: 6,755,000 oz as the banker boys were busy convincing holders of many silver contracts to cash settle just like they did today.
The April/2017 contract month GAINED 10 contracts to 925 contracts. The next active contract month is May and here the open interest LOST 1676 contracts DOWN to 151,609 contracts.
FOR COMPARISON
Initially for the April 2016 contract, 1,180,000 oz stood for delivery. At the end of April 2016: 6,775,000 oz as bankers needed much silver to fill major holes elsewhere.
We had 131 notice(s) filed for 655,0000 oz for the MARCH 2017 contract.
VOLUMES: for the gold comex
Today the estimated volume was 120,493 contracts which is poor.
Yesterday’s confirmed volume was 239,886 contracts which is good
volumes on gold are getting higher!
INITIAL standings for MARCH
March 8/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
32310.75 OZ
Scotia
Manfra
1005 kilobars
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
nil oz
No of oz served (contracts) today
1 notice(s)
100 oz
No of oz to be served (notices)
71 contracts
7100 oz
Total monthly oz gold served (contracts) so far this month
47 notices
4600 oz
0.1462 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 50,443.5 oz
This is very strange: now for many days, nothing of substance enters the comex vaults. They must have problems locating physical just like the LBMA>
Today we HAD 2 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 2 customer withdrawal(s)
i) Out of Scotia: 32,150.000 oz 1000 kilobars
ii) Out of Manfra: 160.75 oz (5 kilobars)
total customer withdrawal: 32,310.75 oz
1005 kilobars
We had 0 adjustment(s)
For MARCH:
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 1 contract(s) of which 0 notices were stopped (received) by jPMorgan dealer and 0 notice(s) was (were) stopped/ Received) by jPMorgan customer account.
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To calculate the initial total number of gold ounces standing for the MARCH. contract month, we take the total number of notices filed so far for the month (47) x 100 oz or 4700 oz, to which we add the difference between the open interest for the front month of MARCH (72 contracts) minus the number of notices served upon today (1) x 100 oz per contract equals 11,800 oz, the number of ounces standing in this NON active month of MARCH.
Thus the INITIAL standings for gold for the MARCH contract month:
No of notices served so far (47) x 100 oz or ounces + {(72)OI for the front month minus the number of notices served upon today (1) x 100 oz which equals 11,800 oz standing in this non active delivery month of MARCH (.3670 tonnes)
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On first day notice for MARCH 2016, we had 2.146 tonnes of gold standing. At the conclusion of the month we had 2.311 tonnes standing.
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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/ 18.734 tonnes
March: 0.3670 tonnes
total for the 15 months; 244.627 tonnes
average 16.308 tonnes per month vs last yr 61.82 tonnes total for 15 months or 4.12 tonnes average per month (last yr).
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Total dealer inventory 1,419,840.049 or 44.162 tonnes DEALER RAPIDLY LOSING GOLD
Total gold inventory (dealer and customer) = 8,894,600.148 or 276.665 tonnes
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 276.665 tonnes for a loss of 26 tonnes over that period. Since August 8/2016 we have lost 77 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 77 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE MARCH DELIVERY MONTH
MARCH INITIAL standings
March 8. 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
334,727.106 oz
Delaware
CNT
Scotia
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
nil oz
No of oz served today (contracts)
131 CONTRACT(S)
(565,000 OZ)
No of oz to be served (notices)
2119 contracts
(10,595,000 oz)
Total monthly oz silver served (contracts) 1905 contracts (9,525,000 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 2,068,984.1 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 3 customer withdrawal(s):
i) Out of Delaware: 4,083.366 oz
ii) Out of CNT: 20,023.180 oz
iii) Out of Scotia: 310,620.56 oz
TOTAL CUSTOMER WITHDRAWALS: 334,727.106 oz
we had 0 customer deposit(s):
***deposits into JPMorgan have now stopped.
total customer deposits; nil oz
we had 1 adjustment(s)
i)Out of CNT:
647,911.650 oz was adjusted out of the customer and this landed into the dealer account of CNT
The total number of notices filed today for the MARCH. contract month is represented by 131 contract(s) for 565,000 oz. To calculate the number of silver ounces that will stand for delivery in MARCH., we take the total number of notices filed for the month so far at 1905 x 5,000 oz = 9,525,000 oz to which we add the difference between the open interest for the front month of MAR (2250) and the number of notices served upon today (131) x 5000 oz equals the number of ounces standing
Thus the initial standings for silver for the March contract month: 1905(notices served so far)x 5000 oz + OI for front month of Mar.( 2250 ) -number of notices served upon today (131)x 5000 oz equals 20,115,000 oz of silver standing for the Mar contract month. This is now average for an active delivery month in silver. We lost 4 contracts or an additional 20,000 oz will not stand.
END
Volumes: for silver comex
Today the estimated volume was 29,991 which is poor!!!
Yesterday’s confirmed volume was 59,222 contracts which is very good.
Total dealer silver: 36.112 million (close to record low inventory
Total number of dealer and customer silver: 187.952 million oz
The total open interest on silver is now further 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
March 8/no change in gold inventory at the GLD/inventory rests at 836.77 tones
march 7/a huge withdrawal of 3.81 tonnes from the GLD inventory/inventory rests at 836.77 tonnes
March 6/No change in gold inventory at the GLD/Inventory rests at 840.58 tonnes
March 3/ a huge withdrawal of 2.96 tonnes of gold from the GLD/Inventory rests at 840.58 tonnes
March 2/a deposit of 2.37 tonnes of gold into the GLD/Inventory rests tat 843.54 tonnes
March 1/no change in gold inventory at the GLD/Inventory rests at 841.17 tonnes
FEB 28/no changes in gold inventory at the GLD/Inventory rests at 841.17 tonnes
feb 27/no change in gold inventory at the GLD/Inventory rests at 841.17 tonnes
Feb 24/no changes in gold inventory at the GLD/Inventory rests at 841.17 tonnes
FEB 23/no changes in gold inventory at the GLD/Inventory rests at 841.17 tonnes
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.
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March 8 /2017/ Inventory rests tonight at 836.77 tonnes
*IN LAST 105 TRADING DAYS: 113.04 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 51 TRADING DAYS: A NET 12.17 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
*FROM FEB 1/2017: a net 37.60 TONNES HAVE BEEN ADDED.
end
Now the SLV Inventory
March 8/a big change; a withdrawal of 1.515 million oz from the SLV/Inventory rests at 331.273 million oz/
march 7/no change in inventory at the SLV/Inventory rest at 332.788 million oz/
March 6/no change in inventory at the SLV/Inventory rests at 332.788 million oz/
March 3: two transactions:
i)March 3/ a small change, a withdrawal of 125,000 oz and this would be to pay for fees like insurance, storage etc/inventory now stands at 335.156 million oz.
ii) a huge withdrawal of 2.368 million oz/inventory rests this weekend at 332.788 million oz
March 2/no changes in silver inventory (despite the raid) at the SLV/Inventory rests at 335.281 million oz
March 1/no changes in inventory at the SLV/Inventory rests at 335.281 million oz/
FEB 28/no changes in inventor at the SLV/inventory rests at 335.281 million oz/
FEB 27/no change in inventory at the SLV/Inventory rests at 335.281 million oz/
FEB 24/no changes in inventory at the SLV/Inventory rests at 335.281 million oz.
FEB 23/no changes in inventory at the SLV/Inventory rests at 335.281 million oz
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
.
March 8.2017: Inventory 331.273 million oz
end
NPV for Sprott and Central Fund of Canada
will update later tonight the central fund of Canada figures
1. Central Fund of Canada: traded at Negative 5.0 percent to NAV usa funds and Negative 5.2% to NAV for Cdn funds!!!!
Percentage of fund in gold 60.5%
Percentage of fund in silver:39.4%
cash .+0.1%( Mar 8/2017)
2. Sprott silver fund (PSLV): Premium RISES to -.02%!!!! NAV (Mar 8/2017)
3. Sprott gold fund (PHYS): premium to NAV RISES to – 0.24% to NAV ( Mar 8/2017)
Note: Sprott silver trust back into NEGATIVE territory at -0.24% /Sprott physical gold trust is back into NEGATIVE territory at -0.24%/Central fund of Canada’s is still in jail but being rescued by Sprott.
http://www.silverdoctors.com/silver/silver-news/gold-silver-whacked-again-harvey-organ-2/#more-76949
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Thanks Harvey & Doc Thanks Jesse
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CQs
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