Captain's Quarters

[JD400]

CHINA IS HAPPY TODAY

Posted on July 7, 2017 by The Doc

CHINA IS HAPPY TODAY… Harvey Organ:



WAR DRUMS BEAT LOUDER AGAINST NORTH KOREA/EU PARLIAMENT SUSPENDS ACCESSION TALKS WITH TURKEY/MONTE DE PASCHI BAILED OUT AGAIN WITH A 5 BILLION EURO INFUSION/EARTHQUAKE AT 5.8 IN MONTANA UNDER THE YELLOWSTONE NATIONAL PARK WHICH CONTAINS THE SUPERVOLCANO UNDERGROUND



GOLD: $1223.80 UP $3.40

Silver: $16.00 UP 8 cent(s)

Closing access prices:

Gold $1225.50

silver: $16.06


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: $1235.54 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1225.50

PREMIUM FIRST FIX: $10.04

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SECOND SHANGHAI GOLD FIX: $1235.05

NY GOLD PRICE AT THE EXACT SAME TIME: $1225.25

Premium of Shanghai 2nd fix/NY:$8.80

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LONDON FIRST GOLD FIX: 5:30 am est $1224.30

NY PRICING AT THE EXACT SAME TIME: $1224.10

LONDON SECOND GOLD FIX 10 AM: $1224.90

NY PRICING AT THE EXACT SAME TIME. $1225.80

For comex gold:
JULY/

NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 19 NOTICE(S) FOR 1900 OZ.

TOTAL NOTICES SO FAR: 58 FOR 5800 OZ (.1804 TONNES)



For silver:
JULY

369 NOTICES FILED TODAY FOR

1,845,000 OZ/
Total number of notices filed so far this month: 1970 for 9,850,000 oz

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end

Tomorrow’s OI for gold and silver should advance considerably. I get the preliminary numbers at 11 pm. I will post them at the conclusion of the commentary tonight for those interested.



Let us have a look at the data for today

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In silver, the total open interest SURPRISINGLY ROSE BY A HUGE 3,920 contract(s) UP to 207,461 DESPITE THE DRUBBING IN PRICE THAT SILVER TOOK WITH YESTERDAY’S ATTEMPTED RAID (DOWN 18 CENT(S) ON TOP OF THE CONSTANT TORMENT THESE PAST FEW WEEKS.

In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.037 BILLION TO BE EXACT or 148% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 369 NOTICE(S) FOR 1,845,000 OZ OF SILVER

In gold, the total comex gold SURPRISINGLY ROSE BY A HUGE 5.656 CONTRACTS DESPITE THE TINY RISE IN THE PRICE OF GOLD ($2.40 with YESTERDAY’S TRADING). The total gold OI stands at462,857 contracts.

we had 19 notice(s) filed upon for 1900 oz of gold.

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With respect to the GLD and the SLV:

GLD:

We had no changes in GLD/

Inventory rests tonight: 840.67 tonnes

.

SLV

Today: STRANGE: A HUGE CHANGE IN SILVER INVENTORY/ A MASSIVE DEPOSIT OF 2.126 MILLION OZ OF SILVER INTO THE SLV INVENTORY

INVENTORY RESTS AT 341.731 MILLION OZ


Please note the difference between gold and silver

end

.

First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver SURPRISINGLY ROSE BY A HUGE 3,920 contracts UP TO207,461 (AND now A LITTLE CLOSER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787), DESPITE THE FALL IN PRICE FOR SILVER WITH YESTERDAY’S TRADING (DOWN 18 CENTS).We LOST NOBODY AS EVERYBODY remains firm and determined.

(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 5.31 POINTS OR 0.17% / /Hang Sang CLOSED DOWN 56.75 POINTS OR 0.22% The Nikkei closed DOWN 87.57 POINTS OR 0.44%/Australia’s all ordinaires CLOSED DOWN 0.06%/Chinese yuan (ONSHORE) closed DOWN at 6.8026/Oil DOWN to 45.73 dollars per barrel for WTI and 48.38 for Brent. Stocks in Europe OPENED ALL IN THE RED,, Offshore yuan trades 6.8020 yuan to the dollar vs 6.8026 for onshore yuan. NOW THE OFFSHORE IS A TOUCH STRONGER TO THE ONSHORE YUAN/ ONSHORE YUAN WEAKER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS STRONGER TO THE DOLLAR AND THIS IS COUPLED WITH THE WEAKER DOLLAR. CHINA IS HAPPY TODAY
3a)THAILAND/SOUTH KOREA/NORTH KOREA

i)NORTH KOREA

War drum beats continue to pound louder as generals warns that the uSA is prepared to attack North Korea.

( zero hedge)

ii)This worries about greatly: an EMP attack by North Korea. The author explains how easy it would be for North Korea to detonate such an attack

( Shannara Johnson/HardAssetsAlliance.com)

iii)Trumps plans to retaliate against North Korea by doing some “pretty severe things”.

( zero hedge)
b) REPORT ON JAPAN

Japan is going to be a huge demographic problem for them: the drop in Japan’s population as this aging society sees deaths outpace births. The problem of course is that their debt is spread over less people and their GDP drops because of the lower number of participants.

(c zero hedge)
c) REPORT ON CHINA



4. EUROPEAN AFFAIRS

i)Turkey/EU

This may turn out to be very problematic as the EU Parliament suspends Turkey accession talks. Turkey for the past 10 year has tried to become an EU member but as been rebuffed constantly. Today the Parliament cited the new “constitutional” reform package voted on by Turkey which gives Erdogan unlimited powers and that is violates European principles. The problem of course is that Turkey has 3 million migrants on its shores and if the vote becomes permanent that Turkey will unleash those migrants onto Greece:
( zero hedge)


ii) ITALY

Sovereign Italy comes in with another 5 billion euros, making the total taxpayer bailout at 22 billion euros (25 billion uSA) to rescue the world’s oldest bank: Monte de Paschi

(courtesy CNBC)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

QATAR

Qatar is running out of dollars because the UAE will not ship any dollars due to the embargo. Interbank rates are hitting record highs

( zero hedge)

6 .GLOBAL ISSUES


7. OIL ISSUES

i)Seems that the boys are reacting to the wrong type of data. Oil and gasoline rebound after a major inventory draw but the real problem is a huge production surge;..the greatest in 6 months

( zero hedge)

ii)WELL THAT DID NOT LAST LONG: WTI AND GASOLINE TUMBLE EVEN AFTER “BULLISH’ INVENTORY GAINS

(courtesy zerohedge)


8. EMERGING MARKET

Maduro’s thugs storm the Venezuela’s legislature and beat opposition lawmakers. Venezuela is now down to its last 10 billion USA dollars of reserves. It credit default swaps are rising fast indicating a default is imminent.

( zero hedge)
9. PHYSICAL MARKETS

i)Mike Kosares warns what will happen when the bankers shrink their balance sheets

( Mike Kosares/USAGold)

ii)This should be extremely positive for gold as South Africa’s ruling party may nationalize the central bank. This story was brought to you yesterday but it is worth repeating

( The Times/Jo’burg/GATA)

iii )At least they admit it: The Philippines Central banks admits to rigging the currency market:

( ABS/CBN News Philippines/GATA)

10. USA Stories

i)the normally upbeat ADP employment report disappoints. We witness no new manufacturing jobs in June.

( ADP)

ii)The USA trade balance hardly improves despite the weaker dollar. Deficits with China and Europe shrink a bit. The overall deficit remains high at 46.5 billion USA down from $47.6 in April.

( zero hedge)
iii)We have been alerting you on the rumblings of that “supervolcano” underneath Yellowstone National Park. If this erupts it would blanket a huge area of about 1/3 of the USA causing damage to crops etc. Early this morning this concern increased dramatically with news of a huge 5.8 earthquake centering around Lincoln Montana.

( zero hedge)

iv)Soft data Service PMI advances (equal to Markit) but inventory levels rise and stagflation seems on the horizon

( zero hedge)

http://www.silverdoctors.com/gold/gold-news/harvey-organ-china-is-happy-today/#more-79398