Friday, March 17, 2017 12:10:19 AM
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Good Morning
And Now For The Wild COMEX Silver Results – Harvey Organ
Posted on March 16, 2017 by The Doc
And Now For The Wild COMEX Silver Results – Harvey Organ
Let Us Head Over to the COMEX:
GOLD UP $26.40/SILVER UP 41 CENTS/CHINA SELLS MORE USA TREASURIES/FOREIGN CENTRAL BANKS SELL 45 BILLION USA TREASURIES/PUERTO RICO BONDS ARE PLUNGING AGAIN/TRUMP RELEASES HIS “SKINNY” BUDGET PROPOSAL WHEREBY FELLOW REPUBLICANS STATE THAT IT IS “DEAD IN THE WATER”/HUGE SQUABBLE BETWEEN REPUBLICAN MCCANN AND REPUBLICAN RAND PAUL: HOW ON EARTH CAN THESE GUYS PASS ANYTHING???
Buy U.S. Mint Coins at the Best Price Online
Gold: $1226.50 UP $26.40
Silver: $17.29 UP 41 cents
Closing access prices:
Gold $1220.00
silver: $17.34
SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
SHANGHAI FIRST GOLD FIX: 1239.35 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: 1225.50
PREMIUM FIRST FIX: $13.85
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SECOND SHANGHAI GOLD FIX: 1241.99
NY GOLD PRICE AT THE EXACT SAME TIME: 1226.75
Premium of Shanghai 2nd fix/NY:$15.24
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LONDON FIRST GOLD FIX: 5:30 am est 1225.60
NY PRICING AT THE EXACT SAME TIME: 1224.50
LONDON SECOND GOLD FIX 10 AM: 1229.35
NY PRICING AT THE EXACT SAME TIME. 1228.10
For comex gold:
MARCH/
NOTICES FILINGS TODAY FOR MARCH CONTRACT MONTH: 0 NOTICE(S) FOR nil OZ. TOTAL NOTICES SO FAR: 59 FOR 5900 OZ (0.1835 TONNES)
For silver:
For silver: MARCH
154 NOTICES FILED TODAY FOR 770,000 OZ/
Total number of notices filed so far this month: 3224 for 16,120,000 oz
Let us have a look at the data for today
.
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In silver, the total open interest ROSE by 2,620 contracts UP to 189,556 with respect to YESTERDAY’S TRADING. In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. 0.948 BILLION TO BE EXACT or 135% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MARCH MONTH: THEY FILED: 154 NOTICE(S) FOR 770,000 OZ OF SILVER
In gold, the total comex gold ROSE BY 4677 contracts EVEN WITH THE FALL IN THE PRICE OF GOLD ($1.80 with YESTERDAY’S TRADING). REMEMBER THAT THE OPEN INTEREST READINGS ARE AT THE CLOSE OF COMEX TRADING YESTERDAY. THE HUGE RISE IN THE PRICE OF THE METALS OCCURRED AT 2 PM AFTER THE COMEX CLOSED. The total gold OI stands at 430,847 contracts.
we had 0 notice(s) filed upon for NIL oz of gold.
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With respect to the GLD and the SLV:
GLD:
We had no changes in tonnes of gold at the GLD:
Inventory rests tonight: 839.43 tonnes
A Silver Coin 20 YEARS In the Making…Buy 10 oz Canadian Silver Magnificent Maple Leaves Coins
SLV
We had no changes in inventory at the SLV/
THE SLV Inventory rests at: 331.272 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 2620 contracts UP to 189,556 AS SILVER WAS DOWN 1 CENT(S) with YESTERDAY’S trading. The gold open interest ROSE BY 4677 contracts UP to 430,847 DESPITE THE FALL IN THE PRICE OF GOLD OF $1.80 (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 WEDNESDAY night/THURSDAY morning: Shanghai closed UP 22.17 POINTS OR .84%/ /Hang Sang CLOSED UP 495.43 POINTS OR 2.08% . The Nikkei closed UP 12.76 POINTS OR 0.07% /Australia’s all ordinaires CLOSED UP 0.24%/Chinese yuan (ONSHORE) closed UP at 6.9019/Oil ROSE to 49.25 dollars per barrel for WTI and 52.22 for Brent. Stocks in Europe ALL IN THE GREEN GERMAN ..Offshore yuan trades 6.8715 yuan to the dollar vs 6.9019 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS CONSIDERABLY AGAIN/ ONSHORE YUAN STRONGER AS IS THE OFFSHORE YUAN AND THIS IS COUPLED WITH THE SLIGHTLY STRONGER DOLLAR. CHINA TIGHTENS (SEE BELOW)
3a)THAILAND/SOUTH KOREA/NORTH KOREA
b) REPORT ON JAPAN
The Bank of Japan leaves policy and economic outlook unchanged: the yen weakens slightly and the 10 yr Japanese bond yield falls a bit
( zerohedge)
c) REPORT ON CHINA
i)China resumes selling uSA treasuries. Foreign central banks continue to also liquidate treasuries to the tune of 45 billion dollars worth of bonds
( zero hedge)
ii)China unexpectedly raises its interest rates with its open market operations. Both on shore and off shore yuan rise but the 10 yr bond prices fall (yields rise)
( zero hedge)
4. EUROPEAN AFFAIRS
i)Victory of the ruling Mark Rutte and a disappointing showing for the Euroskeptic Gerrt Wilders: Wilders wins 20 seats and Rutte 33. A coalition government now needs to be formed:
( zerohedge)
ii)Bill Blain explains the Dutch election:
( Bill Blain/MintPartners)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
6.GLOBAL ISSUES
Why austerity fails!! An excellent commentary from Meijer as he states why Greece cannot never get out of its depression as long as the EU overlords continue to demand austerity and rob Greece of its prized assets
( Raul Meijer/Automatic Earth Blog))
7. OIL ISSUES
The shale boys can still be profitable at 40 dollars. OPEC again has completely underestimated them
( Paraskova/OilPrice.com)
8. EMERGING MARKETS
It is getting far worse in Venezuela. Now Maduro has ordered bakers to produce cheaper loaves of bread using scarce flour as bread lines circle the block on every bakery
( Bloomberg)
9. PHYSICAL MARKETS
i)This is interesting: let us see what this guy does in the precious metals arena
( Reuters/GATA)
ii)A must read…
Stewart Dougherty comments that gold and silver manipulation is the biggest financial crime in USA history:
( GATA/Stewart Dougherty)
iii)This is fascinating: Nobel prize winner Fraser Stoddard hopes to turn the mining of gold green with a new method to extract gold doing away with the poisonous cyanide.
( Yeomans/London’s telegraph)
iv)ICE is ready to launch a London gold clearing ahead of its competitors
( Reuters/GATA)
10.USA STORIES
i)Strange! Yesterday we saw home builders the most optimistic and yet building permits plunge the most in 11 months and reducing multifamily dwelling starts.
( zero hedge)
ii)Strange: now soft data Philly Fed drops from a 42 down to 32.80, the biggest tumble from its 33 yr highs
( Philly Fed/zero hedge)
iii)Bloomberg Economist Kathleen Hays, I guess had enough as she decided to ask Yellen pointed questions on the economy. Basically Hays did not understand what changed from December to now to cause the data dependent Fed to hike in a rapidly deteriorating economy. Yellen was startled as she eyeballing someone off camera. She did not like the question and we feel very sorry for Kathleen as this would probably be her last session to question the Fed as she joins Da Costa and us as outlaws.
( zero hedge)
iv)Last night, Trump’s budget plan was leaked in which he proposes a 31% cut for EPA and a 28% cut for the state dept with a huge 54 billion rise in the military
( zero hedge/3 commentaries)
v)Utter nonsense has Bharara explains why he did not charge any Wall Street banker executives:
(courtesy Mike Krieger/Liberty BlitzkriegBlog)
vi)Puerto Rico bonds are plunging again
( zero hedge)
vii a)This is why there will be zero agreement on the debt ceiling. Republican McCain blasts Rand Paul for not supporting NATO’s entry for the corrupt Montenegro.
( zerohedge)
vii b)Rand Paul’s response to the crazy and ‘unhinged” McCain:
( zero hedge)
Let us head over to the comex:
The total gold comex open interest ROSE BY 4677 CONTRACTS UP to an OI level of 430,847 WITH THE FALL IN THE PRICE OF GOLD ( $1.80 with YESTERDAY’S trading). We are probably only 40,000 contracts away from rock bottom (393,000). 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 LOSS of 2 contract(s) DOWN to 24. We had 0 contact(s) served YESTERDAY, so we LOST 2 CONTRACT(S) or AN ADDITIONAL 200 ounces will NOT stand for delivery. The next active contract month is April and here we saw it’s OI LOSE 401 contracts DOWN TO 190,540 contracts.
For comparison purposes, the April 2016 contract at this time had an OI of 244,484 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 GAIN 53 contract(s) and thus its OI is 927 contracts. The next big active month is June and here the OI ROSE by 3852 contracts up to 147,956.
We had 0 notice(s) filed upon today for NIL oz
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And now for the wild silver comex results. Total silver OI ROSE BY 2,620 contracts FROM 186,936 UP TO 189,556 WITH 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 closing price of silver that day: $20.44
We are in the active delivery month is March and here the OI decreased by 79 contracts down to 797 contracts. We had 78 notices served upon yesterday so we neither lost 1 CONTRACT OR 5,000 OZ WILL NOT STAND in this active delivery month of March.
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 0 contract(s) to 994 contracts. The next active contract month is May and here the open interest GAINED 1275 contracts UP to 146,309 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 154 notice(s) filed for 770,000 oz for the MARCH 2017 contract.
VOLUMES: for the gold comex
Today the estimated volume was 161,415 contracts which is fair.
Yesterday’s confirmed volume was 290,131 contracts which is very good
volumes on gold are getting higher!
INITIAL standings for MARCH
March 16/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
6121.827 OZ
Scotia
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
nil oz
No of oz served (contracts) today
0 notice(s)
NIL oz
No of oz to be served (notices)
24 contracts
2400 oz
Total monthly oz gold served (contracts) so far this month
59 notices
5900 oz
0.1835 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 57,961.1 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 Scotia 6121.827 oz
total customer withdrawal: 6121.827 oz
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 0 contract(s) of which 0 notices were stopped (received) by jPMorgan dealer and 0 notice(s) was (were) stopped/ Received) by jPMorgan customer account.
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To calculate the initial total number of gold ounces standing for the MARCH. contract month, we take the total number of notices filed so far for the month (59) x 100 oz or 5900 oz, to which we add the difference between the open interest for the front month of MARCH (24 contracts) minus the number of notices served upon today (0) x 100 oz per contract equals 8300 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 (59) x 100 oz or ounces + {(24)OI for the front month minus the number of notices served upon today (0) x 100 oz which equals 8300 oz standing in this non active delivery month of MARCH (.2581 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: 0.2581 tonnes
total for the 15 months; 244.493 tonnes
average 16.299 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 1,379,264.072 or 42.900 tonnes DEALER RAPIDLY LOSING GOLD
Total gold inventory (dealer and customer) = 8,935,490.29 or 277.93 tonnes
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 277.93 tonnes for a loss of 25 tonnes over that period. Since August 8/2016 we have lost 76 tonnes leaving the comex. However I am including kilobar transactions and they are very suspect at best
I have a sneaky feeling that these withdrawals of gold in kilobars are being used in the hypothecating process and are being used in the raiding of gold!
The gold comex is an absolute fraud. The use of kilobars and exact weights makes the data totally absurd and fraudulent! To me, the only thing that makes sense is the fact that “kilobars: are entries of hypothecated gold sent to other jurisdictions so that they will not be short with their underwritten derivatives in that jurisdiction. This would be similar to the rehypothecated gold used by Jon Corzine at MF Global.
IN THE LAST 7 MONTHS 76 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE MARCH DELIVERY MONTH
MARCH INITIAL standings
March 16. 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
nil oz
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
nil oz
No of oz served today (contracts)
154 CONTRACT(S)
(770,000 OZ)
No of oz to be served (notices)
643 contracts
(3,215,000 oz)
Total monthly oz silver served (contracts) 3224 contracts (16,120,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this month NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month 3,388,168.1 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 0 customer withdrawal(s):
TOTAL CUSTOMER WITHDRAWALS: nil 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: 226,778.620 oz was adjusted out of the customer account and this landed into the dealer account of CNT
The total number of notices filed today for the MARCH. contract month is represented by 154 contract(s) for 770,000 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 3224 x 5,000 oz = 16,120,000 oz to which we add the difference between the open interest for the front month of MAR (797) and the number of notices served upon today (154) x 5000 oz equals the number of ounces standing
Thus the initial standings for silver for the March contract month: 3224(notices served so far)x 5000 oz + OI for front month of Mar.( 797 ) -number of notices served upon today (154)x 5000 oz equals 19,335,000 oz of silver standing for the Mar contract month. This is now average for an active delivery month in silver. We lost one contract or 5,000 oz will not stand for delivery.
Volumes: for silver comex
Today the estimated volume was 52,798 which is very good!!!
Yesterday’s confirmed volume was 78,244 contracts which is huge.
Let’s take today’s estimated volume of 78,244 contracts: that represents:391 million oz of silver or approx. 56% of annual global supply (ex Russia ex China)
Total dealer silver: 38.801 million (close to record low inventory
Total number of dealer and customer silver: 188.465 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 16/no changes in gold inventory at the GLD/Inventory rests at 839.43 tonnes
March 15/ANOTHER HUGE DEPOSIT OF 4.44 TONNES/inventory rests at 839.43 tonnes
March 14/strange they whack gold and yet the GLD adds 2.93 tonnes of gold./inventory rests at 834.99 tonnes
March 13/a deposit of 6.78 tonnes of gold into the GLD/Inventory rests at 832.03 tonnes
March 10/ a withdrawal of 4.886 tonnes from the GLD/Inventory rests at 830.25
this tonnage no doubt is off to Shanghai
March 9/a withdrawal of 2.67 tonnes from the GLD/Inventory rests at 834.10
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
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March 16 /2017/ Inventory rests tonight at 839.43 tonnes
*IN LAST 111 TRADING DAYS: 106.45 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 56 TRADING DAYS: A NET 18.76 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
*FROM FEB 1/2017: a net 44.19 TONNES HAVE BEEN ADDED.
end
Now the SLV Inventory
March 16/no changes in silver inventory/SLV inventory rests at 331.272 million oz
March 15/no change in silver inventory/SLV inventory rests at 331.272 million oz
March 14/ a deposit of 1.136 million oz of inventory into the SLV/Inventory rests at 331.272 million oz
March 13/no change in silver inventory at the SLV/Inventory rests at 330.136 million oz.
March 10/no change in silver inventory at the SLV/Inventory rests at 330.136 million oz/
March 9/another big withdrawal of 1.137 million oz from the SLV/Inventory rests at 330.136 million oz/
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
March 16.2017: Inventory 331.272 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 6.6 percent to NAV usa funds and Negative 6.5% to NAV for Cdn funds!!!!
Percentage of fund in gold 60.8%
Percentage of fund in silver:39.0%
cash .+0.2%( Mar 16/2017)
Sprott funds will be updated later tonight
2. Sprott silver fund (PSLV): Premium RISES to -.20%!!!! NAV (Mar 15/2017)
3. Sprott gold fund (PHYS): premium to NAV RISES to + 0.33% to NAV ( Mar 15/2017)
Note: Sprott silver trust back into NEGATIVE territory at -0.20% /Sprott physical gold trust is back into POSITIVE territory at +0.33%/Central fund of Canada’s is still in jail but being rescued by Sprott.
Sprott’s hostile 3.1 billion bid to take over Central Fund of Canada
http://www.silverdoctors.com/silver/silver-news/comex-silver-results-harvey-organ/#more-77110
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ICE to launch London gold clearing before banks are ready
Submitted by cpowell on Thu, 2017-03-16 00:36. Section: Daily Dispatches
By Peter Hobson and Jan Harvey
Reuters
Wednesday, March 15, 2017
LONDON -- Intercontinental Exchange (ICE) is set to launch clearing for London's benchmark gold price auction before participants are ready as it races to prevent rivals muscling in on the city's $5 trillion-a-year bullion market, market and banking sources said.
Clearing -- where an exchange acts as an intermediary to guarantee and settle trades -- is regarded as a necessary progression for the gold trade as tighter regulatory capital requirements increase the cost of trading off-exchange. ICE, the London Metal Exchange, and CME Group are competing to offer services through futures contracts and grab the biggest slice of the new business.
U.S.-based exchange operator ICE has already pushed back the launch of its service by several weeks to allow the banks and brokers who participate in the auction to adapt their IT systems, four sources with direct knowledge of the matter told Reuters. Two of the sources said ICE now planned to introduce clearing from Apr. 3, the first Monday of the month.
However, at least four of the 14 banks and brokers who participate in the LBMA Gold Price auction -- which sets the benchmark for bullion traders around the world -- will still not be ready to use the new system, three separate sources said. ...
... For the remainder of the report:
http://www.reuters.com/article/us-gold-auction-ice-idUSKBN16M1X3
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Bears Make Money, Bulls Make Money
It's an old Wall Street saying that 'bears make money, bulls make money, but pigs get slaughtered.'
I think that observation might also apply to those who make public policy, those in the political and professional classes. And brother, they seem to be wanting to go whole hog.
I am afraid a lot of people who thought they were going to get one thing and going to get another, and in spades. Well, as noted here often, one makes their choices, and then takes the consequences. Not that I have any special talent for being right. But if you do all things with love, I think the consolations of even the poor decisions makes it all come out better in the longer run.
Today Wall Street paused after the 'Fed is dovish' rally yesterday. The Fed will make hawkish noises because they are starting to fear their latest bubble, but their resolve is thin. They can look at the real numbers as easily as we can, and they do not support a recovering real economy by any means.
Gold and silver made another push higher on the weaker dollar, and then fell back a bit into the close on profit taking. Not everything has to be manipulation. But there is certainly enough of that going around that only the willfully blind or naive cannot see, and I no longer have any patience with that sort of behaviour.
But why argue with scoundrels. We'll let the market sort it all out, eventually.
I like the chart action so far. Let's see what happens next.
Have a pleasant evening.
CQs MMgys
https://www.youtube.com/watch?v=84YASWe3_2Q
http://jessescrossroadscafe.blogspot.com/
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Good Morning
And Now For The Wild COMEX Silver Results – Harvey Organ
Posted on March 16, 2017 by The Doc
And Now For The Wild COMEX Silver Results – Harvey Organ
Let Us Head Over to the COMEX:
GOLD UP $26.40/SILVER UP 41 CENTS/CHINA SELLS MORE USA TREASURIES/FOREIGN CENTRAL BANKS SELL 45 BILLION USA TREASURIES/PUERTO RICO BONDS ARE PLUNGING AGAIN/TRUMP RELEASES HIS “SKINNY” BUDGET PROPOSAL WHEREBY FELLOW REPUBLICANS STATE THAT IT IS “DEAD IN THE WATER”/HUGE SQUABBLE BETWEEN REPUBLICAN MCCANN AND REPUBLICAN RAND PAUL: HOW ON EARTH CAN THESE GUYS PASS ANYTHING???
Buy U.S. Mint Coins at the Best Price Online
Gold: $1226.50 UP $26.40
Silver: $17.29 UP 41 cents
Closing access prices:
Gold $1220.00
silver: $17.34
SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
SHANGHAI FIRST GOLD FIX: 1239.35 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: 1225.50
PREMIUM FIRST FIX: $13.85
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SECOND SHANGHAI GOLD FIX: 1241.99
NY GOLD PRICE AT THE EXACT SAME TIME: 1226.75
Premium of Shanghai 2nd fix/NY:$15.24
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LONDON FIRST GOLD FIX: 5:30 am est 1225.60
NY PRICING AT THE EXACT SAME TIME: 1224.50
LONDON SECOND GOLD FIX 10 AM: 1229.35
NY PRICING AT THE EXACT SAME TIME. 1228.10
For comex gold:
MARCH/
NOTICES FILINGS TODAY FOR MARCH CONTRACT MONTH: 0 NOTICE(S) FOR nil OZ. TOTAL NOTICES SO FAR: 59 FOR 5900 OZ (0.1835 TONNES)
For silver:
For silver: MARCH
154 NOTICES FILED TODAY FOR 770,000 OZ/
Total number of notices filed so far this month: 3224 for 16,120,000 oz
Let us have a look at the data for today
.
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In silver, the total open interest ROSE by 2,620 contracts UP to 189,556 with respect to YESTERDAY’S TRADING. In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. 0.948 BILLION TO BE EXACT or 135% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MARCH MONTH: THEY FILED: 154 NOTICE(S) FOR 770,000 OZ OF SILVER
In gold, the total comex gold ROSE BY 4677 contracts EVEN WITH THE FALL IN THE PRICE OF GOLD ($1.80 with YESTERDAY’S TRADING). REMEMBER THAT THE OPEN INTEREST READINGS ARE AT THE CLOSE OF COMEX TRADING YESTERDAY. THE HUGE RISE IN THE PRICE OF THE METALS OCCURRED AT 2 PM AFTER THE COMEX CLOSED. The total gold OI stands at 430,847 contracts.
we had 0 notice(s) filed upon for NIL oz of gold.
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With respect to the GLD and the SLV:
GLD:
We had no changes in tonnes of gold at the GLD:
Inventory rests tonight: 839.43 tonnes
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SLV
We had no changes in inventory at the SLV/
THE SLV Inventory rests at: 331.272 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 2620 contracts UP to 189,556 AS SILVER WAS DOWN 1 CENT(S) with YESTERDAY’S trading. The gold open interest ROSE BY 4677 contracts UP to 430,847 DESPITE THE FALL IN THE PRICE OF GOLD OF $1.80 (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 WEDNESDAY night/THURSDAY morning: Shanghai closed UP 22.17 POINTS OR .84%/ /Hang Sang CLOSED UP 495.43 POINTS OR 2.08% . The Nikkei closed UP 12.76 POINTS OR 0.07% /Australia’s all ordinaires CLOSED UP 0.24%/Chinese yuan (ONSHORE) closed UP at 6.9019/Oil ROSE to 49.25 dollars per barrel for WTI and 52.22 for Brent. Stocks in Europe ALL IN THE GREEN GERMAN ..Offshore yuan trades 6.8715 yuan to the dollar vs 6.9019 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS CONSIDERABLY AGAIN/ ONSHORE YUAN STRONGER AS IS THE OFFSHORE YUAN AND THIS IS COUPLED WITH THE SLIGHTLY STRONGER DOLLAR. CHINA TIGHTENS (SEE BELOW)
3a)THAILAND/SOUTH KOREA/NORTH KOREA
b) REPORT ON JAPAN
The Bank of Japan leaves policy and economic outlook unchanged: the yen weakens slightly and the 10 yr Japanese bond yield falls a bit
( zerohedge)
c) REPORT ON CHINA
i)China resumes selling uSA treasuries. Foreign central banks continue to also liquidate treasuries to the tune of 45 billion dollars worth of bonds
( zero hedge)
ii)China unexpectedly raises its interest rates with its open market operations. Both on shore and off shore yuan rise but the 10 yr bond prices fall (yields rise)
( zero hedge)
4. EUROPEAN AFFAIRS
i)Victory of the ruling Mark Rutte and a disappointing showing for the Euroskeptic Gerrt Wilders: Wilders wins 20 seats and Rutte 33. A coalition government now needs to be formed:
( zerohedge)
ii)Bill Blain explains the Dutch election:
( Bill Blain/MintPartners)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
6.GLOBAL ISSUES
Why austerity fails!! An excellent commentary from Meijer as he states why Greece cannot never get out of its depression as long as the EU overlords continue to demand austerity and rob Greece of its prized assets
( Raul Meijer/Automatic Earth Blog))
7. OIL ISSUES
The shale boys can still be profitable at 40 dollars. OPEC again has completely underestimated them
( Paraskova/OilPrice.com)
8. EMERGING MARKETS
It is getting far worse in Venezuela. Now Maduro has ordered bakers to produce cheaper loaves of bread using scarce flour as bread lines circle the block on every bakery
( Bloomberg)
9. PHYSICAL MARKETS
i)This is interesting: let us see what this guy does in the precious metals arena
( Reuters/GATA)
ii)A must read…
Stewart Dougherty comments that gold and silver manipulation is the biggest financial crime in USA history:
( GATA/Stewart Dougherty)
iii)This is fascinating: Nobel prize winner Fraser Stoddard hopes to turn the mining of gold green with a new method to extract gold doing away with the poisonous cyanide.
( Yeomans/London’s telegraph)
iv)ICE is ready to launch a London gold clearing ahead of its competitors
( Reuters/GATA)
10.USA STORIES
i)Strange! Yesterday we saw home builders the most optimistic and yet building permits plunge the most in 11 months and reducing multifamily dwelling starts.
( zero hedge)
ii)Strange: now soft data Philly Fed drops from a 42 down to 32.80, the biggest tumble from its 33 yr highs
( Philly Fed/zero hedge)
iii)Bloomberg Economist Kathleen Hays, I guess had enough as she decided to ask Yellen pointed questions on the economy. Basically Hays did not understand what changed from December to now to cause the data dependent Fed to hike in a rapidly deteriorating economy. Yellen was startled as she eyeballing someone off camera. She did not like the question and we feel very sorry for Kathleen as this would probably be her last session to question the Fed as she joins Da Costa and us as outlaws.
( zero hedge)
iv)Last night, Trump’s budget plan was leaked in which he proposes a 31% cut for EPA and a 28% cut for the state dept with a huge 54 billion rise in the military
( zero hedge/3 commentaries)
v)Utter nonsense has Bharara explains why he did not charge any Wall Street banker executives:
(courtesy Mike Krieger/Liberty BlitzkriegBlog)
vi)Puerto Rico bonds are plunging again
( zero hedge)
vii a)This is why there will be zero agreement on the debt ceiling. Republican McCain blasts Rand Paul for not supporting NATO’s entry for the corrupt Montenegro.
( zerohedge)
vii b)Rand Paul’s response to the crazy and ‘unhinged” McCain:
( zero hedge)
Let us head over to the comex:
The total gold comex open interest ROSE BY 4677 CONTRACTS UP to an OI level of 430,847 WITH THE FALL IN THE PRICE OF GOLD ( $1.80 with YESTERDAY’S trading). We are probably only 40,000 contracts away from rock bottom (393,000). 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 LOSS of 2 contract(s) DOWN to 24. We had 0 contact(s) served YESTERDAY, so we LOST 2 CONTRACT(S) or AN ADDITIONAL 200 ounces will NOT stand for delivery. The next active contract month is April and here we saw it’s OI LOSE 401 contracts DOWN TO 190,540 contracts.
For comparison purposes, the April 2016 contract at this time had an OI of 244,484 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 GAIN 53 contract(s) and thus its OI is 927 contracts. The next big active month is June and here the OI ROSE by 3852 contracts up to 147,956.
We had 0 notice(s) filed upon today for NIL oz
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And now for the wild silver comex results. Total silver OI ROSE BY 2,620 contracts FROM 186,936 UP TO 189,556 WITH 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 closing price of silver that day: $20.44
We are in the active delivery month is March and here the OI decreased by 79 contracts down to 797 contracts. We had 78 notices served upon yesterday so we neither lost 1 CONTRACT OR 5,000 OZ WILL NOT STAND in this active delivery month of March.
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 0 contract(s) to 994 contracts. The next active contract month is May and here the open interest GAINED 1275 contracts UP to 146,309 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 154 notice(s) filed for 770,000 oz for the MARCH 2017 contract.
VOLUMES: for the gold comex
Today the estimated volume was 161,415 contracts which is fair.
Yesterday’s confirmed volume was 290,131 contracts which is very good
volumes on gold are getting higher!
INITIAL standings for MARCH
March 16/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
6121.827 OZ
Scotia
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
nil oz
No of oz served (contracts) today
0 notice(s)
NIL oz
No of oz to be served (notices)
24 contracts
2400 oz
Total monthly oz gold served (contracts) so far this month
59 notices
5900 oz
0.1835 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 57,961.1 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 Scotia 6121.827 oz
total customer withdrawal: 6121.827 oz
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 0 contract(s) of which 0 notices were stopped (received) by jPMorgan dealer and 0 notice(s) was (were) stopped/ Received) by jPMorgan customer account.
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To calculate the initial total number of gold ounces standing for the MARCH. contract month, we take the total number of notices filed so far for the month (59) x 100 oz or 5900 oz, to which we add the difference between the open interest for the front month of MARCH (24 contracts) minus the number of notices served upon today (0) x 100 oz per contract equals 8300 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 (59) x 100 oz or ounces + {(24)OI for the front month minus the number of notices served upon today (0) x 100 oz which equals 8300 oz standing in this non active delivery month of MARCH (.2581 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: 0.2581 tonnes
total for the 15 months; 244.493 tonnes
average 16.299 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 1,379,264.072 or 42.900 tonnes DEALER RAPIDLY LOSING GOLD
Total gold inventory (dealer and customer) = 8,935,490.29 or 277.93 tonnes
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 277.93 tonnes for a loss of 25 tonnes over that period. Since August 8/2016 we have lost 76 tonnes leaving the comex. However I am including kilobar transactions and they are very suspect at best
I have a sneaky feeling that these withdrawals of gold in kilobars are being used in the hypothecating process and are being used in the raiding of gold!
The gold comex is an absolute fraud. The use of kilobars and exact weights makes the data totally absurd and fraudulent! To me, the only thing that makes sense is the fact that “kilobars: are entries of hypothecated gold sent to other jurisdictions so that they will not be short with their underwritten derivatives in that jurisdiction. This would be similar to the rehypothecated gold used by Jon Corzine at MF Global.
IN THE LAST 7 MONTHS 76 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE MARCH DELIVERY MONTH
MARCH INITIAL standings
March 16. 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
nil oz
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
nil oz
No of oz served today (contracts)
154 CONTRACT(S)
(770,000 OZ)
No of oz to be served (notices)
643 contracts
(3,215,000 oz)
Total monthly oz silver served (contracts) 3224 contracts (16,120,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this month NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month 3,388,168.1 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 0 customer withdrawal(s):
TOTAL CUSTOMER WITHDRAWALS: nil 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: 226,778.620 oz was adjusted out of the customer account and this landed into the dealer account of CNT
The total number of notices filed today for the MARCH. contract month is represented by 154 contract(s) for 770,000 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 3224 x 5,000 oz = 16,120,000 oz to which we add the difference between the open interest for the front month of MAR (797) and the number of notices served upon today (154) x 5000 oz equals the number of ounces standing
Thus the initial standings for silver for the March contract month: 3224(notices served so far)x 5000 oz + OI for front month of Mar.( 797 ) -number of notices served upon today (154)x 5000 oz equals 19,335,000 oz of silver standing for the Mar contract month. This is now average for an active delivery month in silver. We lost one contract or 5,000 oz will not stand for delivery.
Volumes: for silver comex
Today the estimated volume was 52,798 which is very good!!!
Yesterday’s confirmed volume was 78,244 contracts which is huge.
Let’s take today’s estimated volume of 78,244 contracts: that represents:391 million oz of silver or approx. 56% of annual global supply (ex Russia ex China)
Total dealer silver: 38.801 million (close to record low inventory
Total number of dealer and customer silver: 188.465 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 16/no changes in gold inventory at the GLD/Inventory rests at 839.43 tonnes
March 15/ANOTHER HUGE DEPOSIT OF 4.44 TONNES/inventory rests at 839.43 tonnes
March 14/strange they whack gold and yet the GLD adds 2.93 tonnes of gold./inventory rests at 834.99 tonnes
March 13/a deposit of 6.78 tonnes of gold into the GLD/Inventory rests at 832.03 tonnes
March 10/ a withdrawal of 4.886 tonnes from the GLD/Inventory rests at 830.25
this tonnage no doubt is off to Shanghai
March 9/a withdrawal of 2.67 tonnes from the GLD/Inventory rests at 834.10
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
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March 16 /2017/ Inventory rests tonight at 839.43 tonnes
*IN LAST 111 TRADING DAYS: 106.45 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 56 TRADING DAYS: A NET 18.76 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
*FROM FEB 1/2017: a net 44.19 TONNES HAVE BEEN ADDED.
end
Now the SLV Inventory
March 16/no changes in silver inventory/SLV inventory rests at 331.272 million oz
March 15/no change in silver inventory/SLV inventory rests at 331.272 million oz
March 14/ a deposit of 1.136 million oz of inventory into the SLV/Inventory rests at 331.272 million oz
March 13/no change in silver inventory at the SLV/Inventory rests at 330.136 million oz.
March 10/no change in silver inventory at the SLV/Inventory rests at 330.136 million oz/
March 9/another big withdrawal of 1.137 million oz from the SLV/Inventory rests at 330.136 million oz/
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
March 16.2017: Inventory 331.272 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 6.6 percent to NAV usa funds and Negative 6.5% to NAV for Cdn funds!!!!
Percentage of fund in gold 60.8%
Percentage of fund in silver:39.0%
cash .+0.2%( Mar 16/2017)
Sprott funds will be updated later tonight
2. Sprott silver fund (PSLV): Premium RISES to -.20%!!!! NAV (Mar 15/2017)
3. Sprott gold fund (PHYS): premium to NAV RISES to + 0.33% to NAV ( Mar 15/2017)
Note: Sprott silver trust back into NEGATIVE territory at -0.20% /Sprott physical gold trust is back into POSITIVE territory at +0.33%/Central fund of Canada’s is still in jail but being rescued by Sprott.
Sprott’s hostile 3.1 billion bid to take over Central Fund of Canada
http://www.silverdoctors.com/silver/silver-news/comex-silver-results-harvey-organ/#more-77110
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ICE to launch London gold clearing before banks are ready
Submitted by cpowell on Thu, 2017-03-16 00:36. Section: Daily Dispatches
By Peter Hobson and Jan Harvey
Reuters
Wednesday, March 15, 2017
LONDON -- Intercontinental Exchange (ICE) is set to launch clearing for London's benchmark gold price auction before participants are ready as it races to prevent rivals muscling in on the city's $5 trillion-a-year bullion market, market and banking sources said.
Clearing -- where an exchange acts as an intermediary to guarantee and settle trades -- is regarded as a necessary progression for the gold trade as tighter regulatory capital requirements increase the cost of trading off-exchange. ICE, the London Metal Exchange, and CME Group are competing to offer services through futures contracts and grab the biggest slice of the new business.
U.S.-based exchange operator ICE has already pushed back the launch of its service by several weeks to allow the banks and brokers who participate in the auction to adapt their IT systems, four sources with direct knowledge of the matter told Reuters. Two of the sources said ICE now planned to introduce clearing from Apr. 3, the first Monday of the month.
However, at least four of the 14 banks and brokers who participate in the LBMA Gold Price auction -- which sets the benchmark for bullion traders around the world -- will still not be ready to use the new system, three separate sources said. ...
... For the remainder of the report:
http://www.reuters.com/article/us-gold-auction-ice-idUSKBN16M1X3
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Bears Make Money, Bulls Make Money
It's an old Wall Street saying that 'bears make money, bulls make money, but pigs get slaughtered.'
I think that observation might also apply to those who make public policy, those in the political and professional classes. And brother, they seem to be wanting to go whole hog.
I am afraid a lot of people who thought they were going to get one thing and going to get another, and in spades. Well, as noted here often, one makes their choices, and then takes the consequences. Not that I have any special talent for being right. But if you do all things with love, I think the consolations of even the poor decisions makes it all come out better in the longer run.
Today Wall Street paused after the 'Fed is dovish' rally yesterday. The Fed will make hawkish noises because they are starting to fear their latest bubble, but their resolve is thin. They can look at the real numbers as easily as we can, and they do not support a recovering real economy by any means.
Gold and silver made another push higher on the weaker dollar, and then fell back a bit into the close on profit taking. Not everything has to be manipulation. But there is certainly enough of that going around that only the willfully blind or naive cannot see, and I no longer have any patience with that sort of behaviour.
But why argue with scoundrels. We'll let the market sort it all out, eventually.
I like the chart action so far. Let's see what happens next.
Have a pleasant evening.
CQs MMgys
Thanks Jesse and the Bumper was Beautiful
https://www.youtube.com/watch?v=84YASWe3_2Q
http://jessescrossroadscafe.blogspot.com/
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