Friday, May 05, 2017 12:05:29 AM
Just Stuff
Good Morning Ladies & Gentleman
~Welcome To
~*~Mining & Metals Du Jour~*~ Graveyard Shift~
MMgys CQs
Reminding us the Banksters karma will eventually catch up with them
and we all shine on exposing them . As the SEC and Government have
Big Kotex Pads covering there eyes from the Blatant Crime that goes
on under there noses everyday
So Shine On
and
Glad to Have You With Us <3
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The RAID Goes On – 20 M oz of Silver Standing! – Harvey Organ
Posted on May 4, 2017 by The Doc
ANOTHER RAID ORCHESTRATED BY THE BANKERS/AT THE SILVER COMEX, OVER 20.3 MILLION OZ IS NOW STANDING AND MUCH GREATER THAN AT FIRST DAY NOTICE!
COMMODITY CRASHES IN CHINA LED BY IRON ORE AND RUBBER/CHINESE INTERBANK RATES RISE AS DOES SHIBOR/RBCS CHARLIE MCELLIGOTT:SOMEBODY “JUST BLEW UP”/BLOODBATH IN OIL AS WTI BREAKS INTO THE 45 DOLLAR COLUMN/LAST MAJOR HEALTH PROVIDER PULLS OUT OF IOWA
Gold: $1226.50 DOWN 19.90
Silver: $16.24 DOWN 28 cent(s)
Closing access prices:
Gold $1237.50
silver: $16.48!!!
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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: $1252.89 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: 1241.-0
PREMIUM FIRST FIX: $11.89
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SECOND SHANGHAI GOLD FIX: $1245.35
NY GOLD PRICE AT THE EXACT SAME TIME: 1236.30
Premium of Shanghai 2nd fix/NY:$9.05
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LONDON FIRST GOLD FIX: 5:30 am est $1235.85
NY PRICING AT THE EXACT SAME TIME: $1235.80
LONDON SECOND GOLD FIX 10 AM: $1228.45
NY PRICING AT THE EXACT SAME TIME. $1228.60
For comex gold:
MAY/
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 8 NOTICE(S) FOR 800 OZ.
TOTAL NOTICES SO FAR: 35 FOR 3500 OZ (.1088 TONNES)
For silver:
For silver: MAY
535 NOTICES FILED TODAY FOR 2,675,000 OZ/
Total number of notices filed so far this month: 2713 for 13,565,000 oz
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FEDERAL RESERVE EAR MARKED GOLD REPORT for April
In Feb we had $7,841,000 worth of gold housed at the FRBNY valued at 42.21 dollars per oz
Last month: we had the same; $7,841,000 of gold valued at 42.21
thus 0 oz of gold moved out.
END
The key event today is the rising amount of silver that is standing at the comex. It has now risen above what was standing on day one, first day notice, April 30. On that day 16.8 million oz stood for delivery and for 3 consecutive days it has risen to 19.1 million oz. We have not seen that before.
As far as the raid today, most of the damage has been done in the access market. They are afraid to whack during regular comex hours where physical transactions can occur.
Let us have a look at the data for today
.
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In silver, the total open interest ROSE BY 1,238 contracts UP to 190,478 DESPITE THE HUGE FALL IN PRICE ( 34 CENTS) SILVER TOOK WITH RESPECT TO YESTERDAY’S TRADING. NOBODY BUDGED!!. In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.952 BILLION TO BE EXACT or 136% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 600 NOTICE(S) FOR 3,000,000 OZ OF SILVER
In gold, the total comex gold FELL BY ONLY 2,638 contracts DESPITE THE CONTINUAL FALL IN THE PRICE OF GOLD ($8.70 with YESTERDAY’S TRADING). The total gold OI stands at 459,267 contracts.
we had 166 notice(s) filed upon for 16,600 oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD:
We had a tiny changes in tonnes of gold at the GLD: a withdrawal of .28 tonnes to pay for fees
Inventory rests tonight: 853.08 tonnes
.
SLV
Strange!!! We had a tiny change in silver inventory at the SLV today..despite the huge drop in silver price (to pay for fees)..the withdrawal 144,000 oz/
THE SLV Inventory rests at: 334.777 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 1,238 contracts UP TO 190,478, (AND NOW CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21 AT 234,787), DESPITE THE FALL IN PRICE FOR SILVER ON YESTERDAY (34 CENTS). Again, we must have had some considerable bank short covering.
(report Harvey
.
2.a) The Shanghai and London gold fix report
(Harvey)
2 b) Gold/silver trading overnight Europe, Goldcore
(Mark O’Byrne/zerohedge
and in NY: Bloomberg
2c) Federal Reserve Bank ear marked gold movement
(Harvey)
3. ASIAN AFFAIRS
Late WEDNESDAY night/THURSDAY morning: Shanghai closed DOWN 7.97 POINTS OR .25% OR / /Hang Sang CLOSED DOWN 12.25 POINTS OR .05% . The Nikkei closed UP 135.15 POINT OR .70%/Australia’s all ordinaires CLOSED DOWN .26%/Chinese yuan (ONSHORE) closed DOWN at 6.8958/Oil DOWN to 47.28 dollars per barrel for WTI and 50.15 for Brent. Stocks in Europe OPENED IN THE GREEN ..Offshore yuan trades 6.8952 yuan to the dollar vs 6.8958 for onshore yuan. NOW THE OFFSHORE IS A LITTLE WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN SLIGHTLY WEAKER (TO THE DOLLAR) AND THE OFFSHORE YUAN: WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE WEAKER DOLLAR. CHINA IS HAPPY
3a)THAILAND/SOUTH KOREA/NORTH KOREA
i)NORTH KOREA/USA
b) REPORT ON JAPAN
c) REPORT ON CHINA
i)I brought this important commentary/video to you earlier in the week. Kyle Bass warns that there are huge problems facing China especially with their WMP’s (WealthManagementProduct). In China these total over 4 trillion dollars worth of assets many of which are non performing. The total of all assets: 34 billion so these products represent around 10% of total assets. If you recall in the tape he warned us to watch for a rise in the overnight yuan inter banking rate.
lo and behold: it rose hugely last night
( Bloomberg/zero hedge)
ii)Last night the inter banking rate rose in China signaling lending problems inside their banks. Chinese commodities are crashing limit down as witnessed by the huge collapse in iron ore. Also the issuance of Wealth Management Products is well down which is signaling a liquidity problem in China
( zero hedge
iii)The war of words continue! China blast North Korea’s”irrational logic”
( zero hedge)
iv)I brought this important article to you on the weekend but it is worth repeating
a must read.
(courtesy Alasdair Macleod/Mises Institute)
4. EUROPEAN AFFAIRS
There was a huge debate last night between marine le Pen and Macron. Le Pen states that if she loses, France will be governed by Merkel. The polls seems to suggest a Macron victory on Sunday but he will not be able to pass much legislation
( Mish Shedlock/Mishtalk)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
I guess this is as good a reason for gold to fall as it gets: Iran attempts a missile launch from a submarine but it too fails like China’s attempt
( zero hedge)
6 .GLOBAL ISSUES
i)This is getting a little scary for Canada: BlackRock warns that it would be “folly” to ignore Home Capital woes
( Onosko/Bloomberg)
ii)RBC’s Charlie McElligott: “someone is blowing up”
China’s tightening is causing massive dislocations all over the globe
( Charlie McElligott/RBC..zero hedge)
7. OIL ISSUES
i)Crude oil drops on Russian comments that they may not extend cuts to production. Also noted is sliding demand
( zero hedge)
ii)Bloodbath in the oil sector as crude oil (WTI) drops into the 45 dollar handle;
( zero hedge)
8. EMERGING MARKETS
9. PHYSICAL MARKETS
i)Are we witnessing “panic” selling at the retail level?
( Kingworldnews/GATA)
ii)An in depth look at the market for iron ore and why its prices are tumbling.( Axiom)iii)An excellent article from Steve St Angelo as he comments on the drying up of scrap gold. Americans have pawned off their gold to pay off debt or going further into debt
The GFMS reports that scrap metal is down to only 58 tonnes. You can probably discount that number further as these guys are perennially wrong in their numbers especially on world scrap.
a must read..
( Steve St Angelo/SRSRocco report)
iv)Bitcoin now over 300 dollars above gold as we witness relentless Japanese buying frenzy
( zero hedge)
10. USA stories
i)this is bad for Janet and her data dependent data: USA productivity plunges in Q1
( zero hedge)
ii)This is not necessarily a good thing as the March trade deficit shrank by a little over 1 billion dollars. The reason was lower imports and less exports. The lower dollar did not help the export sector much
( zero hedge)
iii)Not good: USA factory orders tumble the most for 13 months. For data dependent Janet, this may deter her from raising rates
( zero hedge)
iv)Another Obamacare implosion: the last major healthcare provider in Iowa pulls out leaving no options in 2018. What is going to happen to those who receive subsidies for healthcare in Iowa? What a mess..
( zero hedge)
v)The bill passed the House. It is now up to the Senate to negate it
( zero hedge)
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MMGYS Elixir Sponsor Has Bad Day Quits Show
GYS
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Let us head over to the comex:
The total gold comex open interest FELL BY ONLY 2638 CONTRACTS DOWN to an OI level of 459,267 DESPITE THE FALL IN THE PRICE OF GOLD ( $8.70 with YESTERDAY’S trading). The longs still continue to remain stoic as they refused to liquidate any of their contracts despite the constant torment. We are now in the contract month of MAY and it is one of the POORER delivery months of the year. In this MAY delivery month we had A LOSS OF 117 contract(s) FALLING TO 218. We had 131 notices filed yesterday so we GAINED 14 contracts or an additional 1400 oz are standing for delivery and no contracts were cash settled through the EFP route where they receive a cash bonus plus a future gold contract.
The next big active month is June/2017 and here the OI LOST 8305 contracts DOWN to 308,963. The non active July contract gained another 48 contracts to stand at 144 contracts. The next big active month is August and here the OI gained 5821 contracts up to 63,071.
We had 166 notice(s) filed upon today for 16600 oz
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And now for the wild silver comex results. Total silver OI ROSE BY 1,238 contracts FROM 189,240 UP TO 190,478 WITH YESTERDAY’S 34 CENT PRICE FALL. We had without a doubt had some attempted short covering by the banks which failed.
We are in the active delivery month is MAY Here the open interest LOST 69 contracts FALLING TO 1,038 contracts. MY GOODNESS!! IT HAPPENED AGAIN!! We had 313 notices filed on today, so we gained another 244 notices or an additional 1,220,000 oz will stand for delivery. In the last few years, I do not believe I have ever seen an active month increase in amount standing on day 2, day 3 DAY 4 and today DAY 5 of the delivery cycle. No wonder JPMorgan is getting reading for a physical attack at the comex. I have never seen anything like this!!
The non active June contract GAINED 19 contracts to stand at 931. The next big active month will be July and here the OI lost 25 contracts down to 147,073.
For those keeping score, the initial amount of silver oz that stood for delivery for the May 2016 contract month: 28.01 million oz. By conclusion of the month only 13.58 million oz stood and the rest was cash settled.(EFP ROUTE)
The line in the sand is $18.50 for silver and again it has been defended by the criminal bankers. Once this level is pierced, the monstrous billion oz of silver shorts will blow up. The bankers are defending the Alamo with their last stand at the $18.50 mark. THE NEW RECORD HIGH IN OPEN INTEREST WAS SET FRIDAY APRIL 21/2017 AT: 234,787.
We had 600 notice(s) filed for 3,000,000 oz for the MAY 2017 contract
VOLUMES: for the gold comex
Today the estimated volume was 326,604 contracts which is very good
Yesterday’s confirmed volume was 268,418 contracts which is good.
volumes on gold are STILL HIGHER THAN NORMAL!
INITIAL standings for MAY
May 4/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
13,262.22 oz
Manfra
Brinks
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
16,814.98 oz
Manfra
HSBC
No of oz served (contracts) today
166 notice(s)
16,600 OZ
No of oz to be served (notices)
52 contracts
5200 oz
Total monthly oz gold served (contracts) so far this month
332 notices
33,200 oz
1.0326 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 41,325.9 oz
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 2 customer deposit(s):
i) Into Manfra: 803.75 oz (25 kilobars)
ii) In to HSBC: 16,011.198
total customer deposits; 16,814.948 oz
We had 2 customer withdrawal(s)
i) out of Manfra: 32.15 oz 1 kilobar
ii) Out of Brinks; 13,220.07 oz
total customer withdrawal: 13,262.22 oz
we had 0 adjustments:
For MAY:
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 166 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 MAY. contract month, we take the total number of notices filed so far for the month (332) x 100 oz or 33,200 oz, to which we add the difference between the open interest for the front month of MAY (218 contracts) minus the number of notices served upon today (166) x 100 oz per contract equals 38400 oz, the number of ounces standing in this active month of MAY.
Thus the INITIAL standings for gold for the MAY contract month:
No of notices served so far (332) x 100 oz or ounces + {(218)OI for the front month minus the number of notices served upon today (166) x 100 oz which equals 38,400 oz standing in this non active delivery month of MAY (1.1944 tonnes). We gained 14 contracts or an additional 1400 oz are standing for delivery and 0 contracts were cash settled through the EFP route where they received a fiat bonus plus a futures contract in a private deal with the bankers.
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I have now gone over all of the final deliveries for this year and it is startling.
Here are the final deliveries for all of 2016 and the first 5 months of 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
Nov. 8.3950 tonnes.
DEC/2016. 29.931 tonnes
JAN/2017 3.9004 tonnes
FEB/ 18.734 tonnes
March: 0.5816 tonnes
April/2017: 2.8678
MAY:2017/ 1.1944 TONNES
total for the 17 months; 248.81 tonnes
average 14.635 tonnes per month
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Total dealer inventory 914,233.183 or 28.43 tonnes DEALER RAPIDLY LOSING GOLD
Total gold inventory (dealer and customer) = 8,933,491.160 or 277.86 tonnes
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 277.86 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 11 MONTHS 76 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE APRIL DELIVERY MONTH
MAY INITIAL standings
May 4. 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
602,600.671 oz
CNT
90,201.260 oz
Scotia
total:
692,801.931 oz
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
237,913.930 oz
JPMorgan
400,350.700 oz
Scotia
total:
638,264.630 oz
No of oz served today (contracts)
600 CONTRACT(S)
(3,000,000 OZ)
No of oz to be served (notices)
438 contracts
( 2,190,000 oz)
Total monthly oz silver served (contracts) 3626 contracts (18,130,000 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 2,601,224.0 oz
today, we had 0 deposit(s) into the dealer account:
total dealer deposit: nil oz
we had Nil dealer withdrawals:
total dealer withdrawals: nil oz
we had 2 customer withdrawal(s):
i) Out of CNT: 602,600.671 oz
ii) Out of Scotia: 90,201.260 oz
TOTAL CUSTOMER WITHDRAWALS: 692,801.931 oz
We had 2 Customer deposits:
i) Into JPMorgan: 237,913.930. oz
***deposits into JPMorgan have now continued
In the month of March and February, JPMorgan stopped (received) almost all of the comex silver contracts.
why is JPMorgan bringing in so much silver??? why is this not criminal in that they are also the massive short in silver
ii) Into Scotia: 400,350.700 oz
total customer deposits 638,264.63 oz
we had 0 adjustment(s)
The total number of notices filed today for the MAY. contract month is represented by 600 contract(s) for 3,000,000 oz. To calculate the number of silver ounces that will stand for delivery in MAY., we take the total number of notices filed for the month so far at 3626 x 5,000 oz = 18,130,000 oz to which we add the difference between the open interest for the front month of MAY (1038) and the number of notices served upon today (600) x 5000 oz equals the number of ounces standing
.
Thus the initial standings for silver for the MAY contract month: 3626(notices served so far)x 5000 oz + OI for front month of APRIL.(1038 ) -number of notices served upon today (600)x 5000 oz equals 20,320,000 oz of silver standing for the MAY contract month.
We actually gained another 244 contracts or an additional 1,220,000 oz will stand for delivery and again nobody wished to accept an EFP contract for a fiat bonus. It probably means that the entire 20.3 million oz that is standing wants only physical metal and refuses a fiat bonus. This is identical to backwardation where the investor will not accept to roll to a futures month and receive a sure fiat profit (THROUGH THE EFP) but instead that investor holds onto his physical because he is not sure in the future he would receive his metal back if he engages in that future contract. We have now had on 4 consecutive days, an increase in amount standing for silver. For the past several years, this has never happened during an active silver delivery month. Ladies and gentlemen: the silver comex is being attacked for its physical metal!!
Volumes: for silver comex
Today the estimated volume was 97,235 which is huge
Yesterday’s confirmed volume was 98,206 contracts which is huge
(TODAY’S CONFIRMED. VOLUME OF 98,206 CONTRACTS EQUATES TO 493 MILLION OZ OF SILVER OR 70% OF ANNUAL GLOBAL PRODUCTION OF SILVER EX CHINA EX RUSSIA). IN OUR HEARINGS THE COMMISSIONERS STRESSED THAT THE OPEN INTEREST SHOULD BE AROUND 3% OF THE MARKET.
Total dealer silver: 34.045 million (close to record low inventory
Total number of dealer and customer silver: 197.555 million oz
The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price at that day at $18.42
The previous record was 224,540 contracts with the price at that time of $20.44
end
NPV for Sprott and Central Fund of Canada
1. Central Fund of Canada: traded at Negative 7.3 percent to NAV usa funds and Negative 7.1% to NAV for Cdn funds!!!!
Percentage of fund in gold 62.1%
Percentage of fund in silver:37.7%
cash .+0.2%( May 4/2017)
2. Sprott silver fund (PSLV): Premium FALLS TO -.15%!!!! NAV (May 4/2017)
3. Sprott gold fund (PHYS): premium to NAV FALLS to -0.68% to NAV ( May 4 /2017)
Note: Sprott silver trust back into NEGATIVE territory at -.15% /Sprott physical gold trust is back into NEGATIVE/ territory at -0.68%/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/headlines/world-news/the-raid-goes-on-20-m-oz-of-silver-standing-harvey-organ/#more-78126
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Thank You Harvey & Doc Lov The Stuff
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MMGYS CQs
ALERT: 44-Year Market Veteran Says Panic Selling Now Taking Place In Gold & Silver Markets!
May 03, 2017
With continued weakness in the gold and silver markets, today King World News interviewed the man who has been in the gold and silver business for over 44 years, and what he said about the panic selling that is now taking place was truly fascinating.
Eric King: “Bill, I know you’ve had many gold and silver sell orders taking place recently. You’ve been watching these markets for decades. What is happening here as you see it?
Massive Liquidations Taking Place
Bill Haynes, founder of CMI Gold & Silver, one of the largest metals dealers in the United States: “Eric, it’s unnerving how many liquidations are taking place. It has now reached the point where the four major wholesalers have been repeatedly lowering their bids on both gold and silver. Meaning, when a customer liquidates, the wholesalers’ bids on the other end are not what they used to be. At this point we are seeing about 30 percent more sell orders than buy orders…
“The Last Time We Saw This Was In The 1980s”
Eric, in my 44 years in the metals business I can tell you that this is a very rare situation. The last time we saw this was in the 1980s. I have been doing this for almost half a century, and I am shocked at how bad the sentiment is in the gold and silver space at this moment in time — it’s worse than what we saw at the end of the brutal 5-year gold and silver bear market that bottomed at the beginning of 2016.
Panic Selling Creating Major Bottom
Using all of this panic selling as a contrary indicator, the reality is that we are putting in a major bottom in gold and silver. This does not mean that prices can’t drift lower from here, but it does mean that a significant bottom is close at hand. Investors who are buying physical gold and silver at these levels will be incredibly well rewarded over the long-term. When you can buy gold and silver at the same prices that a dealer would normally pay, that’s when you should buy and hold. Who was it that said, ‘You should be buying when there is blood in the streets?’ Isn’t this bloody enough? We haven’t seen this type of pain in decades.”
Remain Disciplined When Others Are Panicking
King World News note: For those of you who dollar cost average purchases in gold and silver, don’t get cute and try to time these markets. Stick to your discipline and purchase gold and silver at the same time each month or on the same rotation as normal. As the next leg of the secular bull market advances, you will be very glad you remained disciplined when others were panicking.
http://kingworldnews.com/alert-44-year-market-veteran-says-panic-selling-now-taking-place-in-gold-silver-markets/
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Good Morning Ladies & Gentleman
~Welcome To
~*~Mining & Metals Du Jour~*~ Graveyard Shift~
MMgys CQs
John Lennon Taking us in this morning
Reminding us the Banksters karma will eventually catch up with them
and we all shine on exposing them . As the SEC and Government have
Big Kotex Pads covering there eyes from the Blatant Crime that goes
on under there noses everyday
So Shine On
and
Glad to Have You With Us <3
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
The RAID Goes On – 20 M oz of Silver Standing! – Harvey Organ
Posted on May 4, 2017 by The Doc
ANOTHER RAID ORCHESTRATED BY THE BANKERS/AT THE SILVER COMEX, OVER 20.3 MILLION OZ IS NOW STANDING AND MUCH GREATER THAN AT FIRST DAY NOTICE!
COMMODITY CRASHES IN CHINA LED BY IRON ORE AND RUBBER/CHINESE INTERBANK RATES RISE AS DOES SHIBOR/RBCS CHARLIE MCELLIGOTT:SOMEBODY “JUST BLEW UP”/BLOODBATH IN OIL AS WTI BREAKS INTO THE 45 DOLLAR COLUMN/LAST MAJOR HEALTH PROVIDER PULLS OUT OF IOWA
Gold: $1226.50 DOWN 19.90
Silver: $16.24 DOWN 28 cent(s)
Closing access prices:
Gold $1237.50
silver: $16.48!!!
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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: $1252.89 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: 1241.-0
PREMIUM FIRST FIX: $11.89
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SECOND SHANGHAI GOLD FIX: $1245.35
NY GOLD PRICE AT THE EXACT SAME TIME: 1236.30
Premium of Shanghai 2nd fix/NY:$9.05
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LONDON FIRST GOLD FIX: 5:30 am est $1235.85
NY PRICING AT THE EXACT SAME TIME: $1235.80
LONDON SECOND GOLD FIX 10 AM: $1228.45
NY PRICING AT THE EXACT SAME TIME. $1228.60
For comex gold:
MAY/
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 8 NOTICE(S) FOR 800 OZ.
TOTAL NOTICES SO FAR: 35 FOR 3500 OZ (.1088 TONNES)
For silver:
For silver: MAY
535 NOTICES FILED TODAY FOR 2,675,000 OZ/
Total number of notices filed so far this month: 2713 for 13,565,000 oz
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FEDERAL RESERVE EAR MARKED GOLD REPORT for April
In Feb we had $7,841,000 worth of gold housed at the FRBNY valued at 42.21 dollars per oz
Last month: we had the same; $7,841,000 of gold valued at 42.21
thus 0 oz of gold moved out.
END
The key event today is the rising amount of silver that is standing at the comex. It has now risen above what was standing on day one, first day notice, April 30. On that day 16.8 million oz stood for delivery and for 3 consecutive days it has risen to 19.1 million oz. We have not seen that before.
As far as the raid today, most of the damage has been done in the access market. They are afraid to whack during regular comex hours where physical transactions can occur.
Let us have a look at the data for today
.
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In silver, the total open interest ROSE BY 1,238 contracts UP to 190,478 DESPITE THE HUGE FALL IN PRICE ( 34 CENTS) SILVER TOOK WITH RESPECT TO YESTERDAY’S TRADING. NOBODY BUDGED!!. In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.952 BILLION TO BE EXACT or 136% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 600 NOTICE(S) FOR 3,000,000 OZ OF SILVER
In gold, the total comex gold FELL BY ONLY 2,638 contracts DESPITE THE CONTINUAL FALL IN THE PRICE OF GOLD ($8.70 with YESTERDAY’S TRADING). The total gold OI stands at 459,267 contracts.
we had 166 notice(s) filed upon for 16,600 oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD:
We had a tiny changes in tonnes of gold at the GLD: a withdrawal of .28 tonnes to pay for fees
Inventory rests tonight: 853.08 tonnes
.
SLV
Strange!!! We had a tiny change in silver inventory at the SLV today..despite the huge drop in silver price (to pay for fees)..the withdrawal 144,000 oz/
THE SLV Inventory rests at: 334.777 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 1,238 contracts UP TO 190,478, (AND NOW CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21 AT 234,787), DESPITE THE FALL IN PRICE FOR SILVER ON YESTERDAY (34 CENTS). Again, we must have had some considerable bank short covering.
(report Harvey
.
2.a) The Shanghai and London gold fix report
(Harvey)
2 b) Gold/silver trading overnight Europe, Goldcore
(Mark O’Byrne/zerohedge
and in NY: Bloomberg
2c) Federal Reserve Bank ear marked gold movement
(Harvey)
3. ASIAN AFFAIRS
Late WEDNESDAY night/THURSDAY morning: Shanghai closed DOWN 7.97 POINTS OR .25% OR / /Hang Sang CLOSED DOWN 12.25 POINTS OR .05% . The Nikkei closed UP 135.15 POINT OR .70%/Australia’s all ordinaires CLOSED DOWN .26%/Chinese yuan (ONSHORE) closed DOWN at 6.8958/Oil DOWN to 47.28 dollars per barrel for WTI and 50.15 for Brent. Stocks in Europe OPENED IN THE GREEN ..Offshore yuan trades 6.8952 yuan to the dollar vs 6.8958 for onshore yuan. NOW THE OFFSHORE IS A LITTLE WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN SLIGHTLY WEAKER (TO THE DOLLAR) AND THE OFFSHORE YUAN: WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE WEAKER DOLLAR. CHINA IS HAPPY
3a)THAILAND/SOUTH KOREA/NORTH KOREA
i)NORTH KOREA/USA
b) REPORT ON JAPAN
c) REPORT ON CHINA
i)I brought this important commentary/video to you earlier in the week. Kyle Bass warns that there are huge problems facing China especially with their WMP’s (WealthManagementProduct). In China these total over 4 trillion dollars worth of assets many of which are non performing. The total of all assets: 34 billion so these products represent around 10% of total assets. If you recall in the tape he warned us to watch for a rise in the overnight yuan inter banking rate.
lo and behold: it rose hugely last night
( Bloomberg/zero hedge)
ii)Last night the inter banking rate rose in China signaling lending problems inside their banks. Chinese commodities are crashing limit down as witnessed by the huge collapse in iron ore. Also the issuance of Wealth Management Products is well down which is signaling a liquidity problem in China
( zero hedge
iii)The war of words continue! China blast North Korea’s”irrational logic”
( zero hedge)
iv)I brought this important article to you on the weekend but it is worth repeating
a must read.
(courtesy Alasdair Macleod/Mises Institute)
4. EUROPEAN AFFAIRS
There was a huge debate last night between marine le Pen and Macron. Le Pen states that if she loses, France will be governed by Merkel. The polls seems to suggest a Macron victory on Sunday but he will not be able to pass much legislation
( Mish Shedlock/Mishtalk)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
I guess this is as good a reason for gold to fall as it gets: Iran attempts a missile launch from a submarine but it too fails like China’s attempt
( zero hedge)
6 .GLOBAL ISSUES
i)This is getting a little scary for Canada: BlackRock warns that it would be “folly” to ignore Home Capital woes
( Onosko/Bloomberg)
ii)RBC’s Charlie McElligott: “someone is blowing up”
China’s tightening is causing massive dislocations all over the globe
( Charlie McElligott/RBC..zero hedge)
7. OIL ISSUES
i)Crude oil drops on Russian comments that they may not extend cuts to production. Also noted is sliding demand
( zero hedge)
ii)Bloodbath in the oil sector as crude oil (WTI) drops into the 45 dollar handle;
( zero hedge)
8. EMERGING MARKETS
9. PHYSICAL MARKETS
i)Are we witnessing “panic” selling at the retail level?
( Kingworldnews/GATA)
ii)An in depth look at the market for iron ore and why its prices are tumbling.( Axiom)iii)An excellent article from Steve St Angelo as he comments on the drying up of scrap gold. Americans have pawned off their gold to pay off debt or going further into debt
The GFMS reports that scrap metal is down to only 58 tonnes. You can probably discount that number further as these guys are perennially wrong in their numbers especially on world scrap.
a must read..
( Steve St Angelo/SRSRocco report)
iv)Bitcoin now over 300 dollars above gold as we witness relentless Japanese buying frenzy
( zero hedge)
10. USA stories
i)this is bad for Janet and her data dependent data: USA productivity plunges in Q1
( zero hedge)
ii)This is not necessarily a good thing as the March trade deficit shrank by a little over 1 billion dollars. The reason was lower imports and less exports. The lower dollar did not help the export sector much
( zero hedge)
iii)Not good: USA factory orders tumble the most for 13 months. For data dependent Janet, this may deter her from raising rates
( zero hedge)
iv)Another Obamacare implosion: the last major healthcare provider in Iowa pulls out leaving no options in 2018. What is going to happen to those who receive subsidies for healthcare in Iowa? What a mess..
( zero hedge)
v)The bill passed the House. It is now up to the Senate to negate it
( zero hedge)
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MMGYS Elixir Sponsor Has Bad Day Quits Show
GYS
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Let us head over to the comex:
The total gold comex open interest FELL BY ONLY 2638 CONTRACTS DOWN to an OI level of 459,267 DESPITE THE FALL IN THE PRICE OF GOLD ( $8.70 with YESTERDAY’S trading). The longs still continue to remain stoic as they refused to liquidate any of their contracts despite the constant torment. We are now in the contract month of MAY and it is one of the POORER delivery months of the year. In this MAY delivery month we had A LOSS OF 117 contract(s) FALLING TO 218. We had 131 notices filed yesterday so we GAINED 14 contracts or an additional 1400 oz are standing for delivery and no contracts were cash settled through the EFP route where they receive a cash bonus plus a future gold contract.
The next big active month is June/2017 and here the OI LOST 8305 contracts DOWN to 308,963. The non active July contract gained another 48 contracts to stand at 144 contracts. The next big active month is August and here the OI gained 5821 contracts up to 63,071.
We had 166 notice(s) filed upon today for 16600 oz
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And now for the wild silver comex results. Total silver OI ROSE BY 1,238 contracts FROM 189,240 UP TO 190,478 WITH YESTERDAY’S 34 CENT PRICE FALL. We had without a doubt had some attempted short covering by the banks which failed.
We are in the active delivery month is MAY Here the open interest LOST 69 contracts FALLING TO 1,038 contracts. MY GOODNESS!! IT HAPPENED AGAIN!! We had 313 notices filed on today, so we gained another 244 notices or an additional 1,220,000 oz will stand for delivery. In the last few years, I do not believe I have ever seen an active month increase in amount standing on day 2, day 3 DAY 4 and today DAY 5 of the delivery cycle. No wonder JPMorgan is getting reading for a physical attack at the comex. I have never seen anything like this!!
The non active June contract GAINED 19 contracts to stand at 931. The next big active month will be July and here the OI lost 25 contracts down to 147,073.
For those keeping score, the initial amount of silver oz that stood for delivery for the May 2016 contract month: 28.01 million oz. By conclusion of the month only 13.58 million oz stood and the rest was cash settled.(EFP ROUTE)
The line in the sand is $18.50 for silver and again it has been defended by the criminal bankers. Once this level is pierced, the monstrous billion oz of silver shorts will blow up. The bankers are defending the Alamo with their last stand at the $18.50 mark. THE NEW RECORD HIGH IN OPEN INTEREST WAS SET FRIDAY APRIL 21/2017 AT: 234,787.
We had 600 notice(s) filed for 3,000,000 oz for the MAY 2017 contract
VOLUMES: for the gold comex
Today the estimated volume was 326,604 contracts which is very good
Yesterday’s confirmed volume was 268,418 contracts which is good.
volumes on gold are STILL HIGHER THAN NORMAL!
INITIAL standings for MAY
May 4/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
13,262.22 oz
Manfra
Brinks
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
16,814.98 oz
Manfra
HSBC
No of oz served (contracts) today
166 notice(s)
16,600 OZ
No of oz to be served (notices)
52 contracts
5200 oz
Total monthly oz gold served (contracts) so far this month
332 notices
33,200 oz
1.0326 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 41,325.9 oz
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 2 customer deposit(s):
i) Into Manfra: 803.75 oz (25 kilobars)
ii) In to HSBC: 16,011.198
total customer deposits; 16,814.948 oz
We had 2 customer withdrawal(s)
i) out of Manfra: 32.15 oz 1 kilobar
ii) Out of Brinks; 13,220.07 oz
total customer withdrawal: 13,262.22 oz
we had 0 adjustments:
For MAY:
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 166 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 MAY. contract month, we take the total number of notices filed so far for the month (332) x 100 oz or 33,200 oz, to which we add the difference between the open interest for the front month of MAY (218 contracts) minus the number of notices served upon today (166) x 100 oz per contract equals 38400 oz, the number of ounces standing in this active month of MAY.
Thus the INITIAL standings for gold for the MAY contract month:
No of notices served so far (332) x 100 oz or ounces + {(218)OI for the front month minus the number of notices served upon today (166) x 100 oz which equals 38,400 oz standing in this non active delivery month of MAY (1.1944 tonnes). We gained 14 contracts or an additional 1400 oz are standing for delivery and 0 contracts were cash settled through the EFP route where they received a fiat bonus plus a futures contract in a private deal with the bankers.
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I have now gone over all of the final deliveries for this year and it is startling.
Here are the final deliveries for all of 2016 and the first 5 months of 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
Nov. 8.3950 tonnes.
DEC/2016. 29.931 tonnes
JAN/2017 3.9004 tonnes
FEB/ 18.734 tonnes
March: 0.5816 tonnes
April/2017: 2.8678
MAY:2017/ 1.1944 TONNES
total for the 17 months; 248.81 tonnes
average 14.635 tonnes per month
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Total dealer inventory 914,233.183 or 28.43 tonnes DEALER RAPIDLY LOSING GOLD
Total gold inventory (dealer and customer) = 8,933,491.160 or 277.86 tonnes
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 277.86 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 11 MONTHS 76 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE APRIL DELIVERY MONTH
MAY INITIAL standings
May 4. 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
602,600.671 oz
CNT
90,201.260 oz
Scotia
total:
692,801.931 oz
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
237,913.930 oz
JPMorgan
400,350.700 oz
Scotia
total:
638,264.630 oz
No of oz served today (contracts)
600 CONTRACT(S)
(3,000,000 OZ)
No of oz to be served (notices)
438 contracts
( 2,190,000 oz)
Total monthly oz silver served (contracts) 3626 contracts (18,130,000 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 2,601,224.0 oz
today, we had 0 deposit(s) into the dealer account:
total dealer deposit: nil oz
we had Nil dealer withdrawals:
total dealer withdrawals: nil oz
we had 2 customer withdrawal(s):
i) Out of CNT: 602,600.671 oz
ii) Out of Scotia: 90,201.260 oz
TOTAL CUSTOMER WITHDRAWALS: 692,801.931 oz
We had 2 Customer deposits:
i) Into JPMorgan: 237,913.930. oz
***deposits into JPMorgan have now continued
In the month of March and February, JPMorgan stopped (received) almost all of the comex silver contracts.
why is JPMorgan bringing in so much silver??? why is this not criminal in that they are also the massive short in silver
ii) Into Scotia: 400,350.700 oz
total customer deposits 638,264.63 oz
we had 0 adjustment(s)
The total number of notices filed today for the MAY. contract month is represented by 600 contract(s) for 3,000,000 oz. To calculate the number of silver ounces that will stand for delivery in MAY., we take the total number of notices filed for the month so far at 3626 x 5,000 oz = 18,130,000 oz to which we add the difference between the open interest for the front month of MAY (1038) and the number of notices served upon today (600) x 5000 oz equals the number of ounces standing
.
Thus the initial standings for silver for the MAY contract month: 3626(notices served so far)x 5000 oz + OI for front month of APRIL.(1038 ) -number of notices served upon today (600)x 5000 oz equals 20,320,000 oz of silver standing for the MAY contract month.
We actually gained another 244 contracts or an additional 1,220,000 oz will stand for delivery and again nobody wished to accept an EFP contract for a fiat bonus. It probably means that the entire 20.3 million oz that is standing wants only physical metal and refuses a fiat bonus. This is identical to backwardation where the investor will not accept to roll to a futures month and receive a sure fiat profit (THROUGH THE EFP) but instead that investor holds onto his physical because he is not sure in the future he would receive his metal back if he engages in that future contract. We have now had on 4 consecutive days, an increase in amount standing for silver. For the past several years, this has never happened during an active silver delivery month. Ladies and gentlemen: the silver comex is being attacked for its physical metal!!
Volumes: for silver comex
Today the estimated volume was 97,235 which is huge
Yesterday’s confirmed volume was 98,206 contracts which is huge
(TODAY’S CONFIRMED. VOLUME OF 98,206 CONTRACTS EQUATES TO 493 MILLION OZ OF SILVER OR 70% OF ANNUAL GLOBAL PRODUCTION OF SILVER EX CHINA EX RUSSIA). IN OUR HEARINGS THE COMMISSIONERS STRESSED THAT THE OPEN INTEREST SHOULD BE AROUND 3% OF THE MARKET.
Total dealer silver: 34.045 million (close to record low inventory
Total number of dealer and customer silver: 197.555 million oz
The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price at that day at $18.42
The previous record was 224,540 contracts with the price at that time of $20.44
end
NPV for Sprott and Central Fund of Canada
1. Central Fund of Canada: traded at Negative 7.3 percent to NAV usa funds and Negative 7.1% to NAV for Cdn funds!!!!
Percentage of fund in gold 62.1%
Percentage of fund in silver:37.7%
cash .+0.2%( May 4/2017)
2. Sprott silver fund (PSLV): Premium FALLS TO -.15%!!!! NAV (May 4/2017)
3. Sprott gold fund (PHYS): premium to NAV FALLS to -0.68% to NAV ( May 4 /2017)
Note: Sprott silver trust back into NEGATIVE territory at -.15% /Sprott physical gold trust is back into NEGATIVE/ territory at -0.68%/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/headlines/world-news/the-raid-goes-on-20-m-oz-of-silver-standing-harvey-organ/#more-78126
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Thank You Harvey & Doc Lov The Stuff
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MMGYS CQs
ALERT: 44-Year Market Veteran Says Panic Selling Now Taking Place In Gold & Silver Markets!
May 03, 2017
With continued weakness in the gold and silver markets, today King World News interviewed the man who has been in the gold and silver business for over 44 years, and what he said about the panic selling that is now taking place was truly fascinating.
Eric King: “Bill, I know you’ve had many gold and silver sell orders taking place recently. You’ve been watching these markets for decades. What is happening here as you see it?
Massive Liquidations Taking Place
Bill Haynes, founder of CMI Gold & Silver, one of the largest metals dealers in the United States: “Eric, it’s unnerving how many liquidations are taking place. It has now reached the point where the four major wholesalers have been repeatedly lowering their bids on both gold and silver. Meaning, when a customer liquidates, the wholesalers’ bids on the other end are not what they used to be. At this point we are seeing about 30 percent more sell orders than buy orders…
“The Last Time We Saw This Was In The 1980s”
Eric, in my 44 years in the metals business I can tell you that this is a very rare situation. The last time we saw this was in the 1980s. I have been doing this for almost half a century, and I am shocked at how bad the sentiment is in the gold and silver space at this moment in time — it’s worse than what we saw at the end of the brutal 5-year gold and silver bear market that bottomed at the beginning of 2016.
Panic Selling Creating Major Bottom
Using all of this panic selling as a contrary indicator, the reality is that we are putting in a major bottom in gold and silver. This does not mean that prices can’t drift lower from here, but it does mean that a significant bottom is close at hand. Investors who are buying physical gold and silver at these levels will be incredibly well rewarded over the long-term. When you can buy gold and silver at the same prices that a dealer would normally pay, that’s when you should buy and hold. Who was it that said, ‘You should be buying when there is blood in the streets?’ Isn’t this bloody enough? We haven’t seen this type of pain in decades.”
Remain Disciplined When Others Are Panicking
King World News note: For those of you who dollar cost average purchases in gold and silver, don’t get cute and try to time these markets. Stick to your discipline and purchase gold and silver at the same time each month or on the same rotation as normal. As the next leg of the secular bull market advances, you will be very glad you remained disciplined when others were panicking.
http://kingworldnews.com/alert-44-year-market-veteran-says-panic-selling-now-taking-place-in-gold-silver-markets/
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