Sunday, August 06, 2017 1:17:39 AM
Just Stuff
Good Morning
MMgys
Here's the Data
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August 5/
Absolutely phony jobs report sends gold down $10.50 and silver down 34 cents/GLD loses another 4.48 tonnes of gold/ Silver loses 945,000 oz/
August 5, 2017 · by Harvey Organ ·
GOLD: $1258.70 DOWN $10.50
Silver: $16.30 DOWN 34 cent(s)
Closing access prices:
Gold $1259.00
silver: $16.30
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: $1275.00 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1269.40
PREMIUM FIRST FIX: $5.60
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SECOND SHANGHAI GOLD FIX: $1275,00
NY GOLD PRICE AT THE EXACT SAME TIME: $1269.40
Premium of Shanghai 2nd fix/NY:$5.60
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LONDON FIRST GOLD FIX: 5:30 am est $1261.80
NY PRICING AT THE EXACT SAME TIME: $1262.25
LONDON SECOND GOLD FIX 10 AM: $1269.30
NY PRICING AT THE EXACT SAME TIME. $1257.20
For comex gold:
AUGUST/
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 34 NOTICE(S) FOR 3400 OZ.
TOTAL NOTICES SO FAR: 3246 FOR 324,600 OZ (10.096 TONNES)
For silver:
AUGUST
130 NOTICES FILED TODAY FOR
650,000 OZ/
Total number of notices filed so far this month: 543 for 2,715,000 oz
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end
You can see for yourself the total falsification of data in the jobs report. Actually the real number was a huge loss. However the attack on Friday was pre-ordained as the gold OI was getting frothy and the silver OI stubbornly remained at extreme lofty levels.
As a little bonus, because I am writing this on Saturday, we get to see the preliminary numbers released close to midnight last night for the Monday trading day.
The open interest for the gold complex fell by 7911 contracts down to 449,868. With the $10.50 drop in gold this was to be expected. When the final numbers come in on Monday it will drop even further.
To highlight the frustration by the bankers with respect to silver, you only have to look at the OI for silver. With the huge 34 cent drop one would have expected the OI to drop considerably. Nope!! it rose by 300 contracts despite the shellacking silver took.
Let us have a look at the data for today
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In silver, the total open interest FELL BY 1605 contracts from 206,233 DOWN to 204,833 WITH THE FALL IN THE PRICE THAT SILVER TOOK WITH RESPECT TO YESTERDAY’S TRADING (DOWN 10 CENT(S). WHEN YOU COMPARE THE HUGE GAIN IN OI FOR GOLD THEN YOU MUST ADMIT THAT WE MUST HAVE HAD SOME BANKER SHORT COVERING WITH THE MAJORITY OF OUR LONGS BASICALLY REMAIN STOIC AND LOSING SOME OF THEIR SILVER LEAVES FROM OUR SILVER TREE.
In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.024 BILLION TO BE EXACT or 146% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 130 NOTICE(S) FOR 650,000 OZ OF SILVER
In gold, the open interest ROSE by A CONSIDERABLE 2,174 despite the FALL in price of gold ($3.65 yesterday.) The new OI for the gold complex rests at 457,779. On Thursday we had the bankers supplying a major amount of short paper to newbie longs who entered the arena again like gangbusters. The bankers had no choice but to supply that paper on the short side and lower prices but could not cover any of their shortfall. Thus the rise in OI despite the fall in price. The bankers needed a massive raid because it seems that they were losing control over the precious metal markets
we had: 34 notice(s) filed upon for 3400 oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD:
Today, another huge changes in gold inventory: a withdrawal of 4.48 tonnes from the GLD
Inventory rests tonight: 787.14 tonnes
IN THE LAST 16 DAYS: GLD SHEDS 50.1 TONNES YET GOLD IS HIGHER BY $45.20 . GO FIGURE!!
SLV
Today: : WE ANOTHER HUGE CHANGES IN SILVER INVENTORY TONIGHT: A WITHDRAWAL OF 945,000 OZ FROM THE SLV
INVENTORY RESTS AT 339.606 MILLION OZ
end
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver FALL BY 1605 contracts from 206,233 down to 204,833 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787). THE FALL IN OPEN INTEREST WAS ACCOMPANIED BY A SMALL LOSS IN PRICE FOR SILVER WITH RESPECT TO YESTERDAY’S TRADING (DOWN 10 CENTS ). WHEN WE SEE THE GOOD SIZED RISE IN GOLD OPEN INTEREST YESTERDAY, WE NO DOUBT WITNESSED SOME BANK SHORT COVERING AS THEY THOUGHT THE TEMPERATURE WAS A LITTLE TOO HOT FOR THEM. WE NO DOUBT HAD SOME NEW SPEC LONGS ENTER THE ARENA. THE MAJORITY OF THE LONGS REMAIN STOIC AND NOTHING IN THE WORLD WILL FORCE THEM OFF THE SILVER TREE.
(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 THURSDAY night/FRIDAY morning: Shanghai closed DOWN 10.85 POINTS OR 0.33% / /Hang Sang CLOSED UP 31.67 POINTS OR 0.12% The Nikkei closed DOWN 76.93 POINTS OR .38%/Australia’s all ordinaires CLOSED DOWN 0.23%/Chinese yuan (ONSHORE) closed UP at 6.7204/Oil DOWN to 48.83 dollars per barrel for WTI and 51.80 for Brent. Stocks in Europe OPENED IN THE GREEN , Offshore yuan trades 6.7222 yuan to the dollar vs 6.7204 for onshore yuan. NOW THE OFFSHORE IS WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN STRONGER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS STRONGER TO THE DOLLAR AND THIS IS COUPLED WITH THE SLIGHTLY WEAKER DOLLAR. CHINA IS HAPPY TODAY
3a)THAILAND/SOUTH KOREA/NORTH KOREA
i)NORTH KOREA//USA
b) REPORT ON JAPAN
c) REPORT ON CHINA
( zero hedge)
4. EUROPEAN AFFAIRS
i)Insanity: Draghi’s push into corporates has caused the junk bond market to yield only 2.49%
( zero hedge)
ii)Insanity: the EU imposes more sanctions against Russia as they blacklist the Deputy Energy Minister. The Russians are accused of supplying gas to the Crimea. Germany is no doubt furious as this will hurt them terribly
(courtesy zerohedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
i)The Kremlin responds to the sanctions and agrees with Trump that this is very dangerous
( zero hedge)
ii)The Russian lawyer in the Donald Trump Jr scandal slams the congressional inquiry as they do not want the truth( zero hedge)
6 .GLOBAL ISSUES
Mish Shedlock comments on the missing piece on global inflation. Actually we are experiencing inflation but not what the bozos want: wage inflation.
( Mish Shedlock/Mishtalk)
7. OIL ISSUES
The rig count drops again for the 3rd time in 6 weeks as production rises
( zero hedge)
8. EMERGING MARKET
9. PHYSICAL MARKETS
i)Dave Kranzler talks about the flash crash of 10,777 contracts in the most illiquid time zone at 7:06 pm est
( Dave Kranzler/IRD)
ii)Gold demand is up 3.5% this year from China. This is for only its citizens and not sovereign demand which is separate( Lawrie Williams/Sharp Pixley)
10. USA Stories
i)the official jobs numbers: a beat by 209,000 jobs. All of the gains were of the “seasonable adjustment” category. Adjusted saw a 1.3 million decline. Shear nonsense!
( zero hedge)
ii)What a phony jobs report: the big gains again in waiters and bartenders, the lowest on the wage scale totem pole:
( zerohedge)
iii)Looking deeper into the number:
393,000 part time jobs were added, offset by a drop of 54,000 full-time workers
and the algos reacted to the gain not realizing that a huge 54,000 full time workers lost their jobs
(zerohedge)
iv)Another disturbing data point: only gains in employment with a high school diploma or lower
( zero hedge)
v)The last word on the phony jobs report courtesy of Dave Kranzler.
One of the key numbers of the fake phony numbers is the Birth Death plug. For our newcomers, the BLS records the losses of jobs when businesses die (Death), then they pick out of thin air, their guess as to new businesses created. The net difference is the B/D and even though there has been a huge decline in new businesses over the past 40 years, these bozos always give a huge increase and this is a total falsehood. To give you the absurdity of the numbers; this week, the construction industry report showed a huge 10% drop in June. The bozos in the B/D added 10,000 construction jobs in June. The real answer then for the jobs report is huge decline in meaningful jobs.
(Dave Kranzler/IRD)
vi)Paul Craig Roberts:
Roberts explains the hoax created by the Democrats in their witch hunt to remove Trump from the Presidency
( Paul Craig Roberts)
vii)Sessions declares war on the leakers and will charge them with criminal activity:
( zero hedge)
viii)Wells Fargo is trouble again after a 10Q reveals significantly more fake accounts
what else is new with these crooks
(courtesy zero hedge)
Let us head over to the comex:
The total gold comex open interest ROSE BY A GOOD SIZED 2174 CONTRACTS UP to an OI level of 457,779 DESPITE THE FALL IN THE PRICE OF GOLD ($3.65 with THURSDAY’S trading). We again had a good sized number of newbie longs enter the gold area to which our crooked bankers were more than happy to comply with an ever increasing supply of short paper. The specs shorts covered as fast as their feet could carry them.The result a higher open interest despite the lower price.
We are now in the contract month of August and it is the 3rd best of the delivery months after December and June.
The active August contract LOST 24 contract(s) to stand at 2728 contracts. We had 73 notices filed upon yesterday so we gained 49 contracts or an additional 4900 oz will stand at the comex and 0 EFP’s were issued which entitles the long holder to a fiat bonus plus a futures contract and most probably that would be a London based forward.
The non active September contract month saw it’s OI gain by 93 contracts up to 2013.
The next active contract month is Oct and here we saw a gain of 301 contracts up to 48,534.
The very big active December contract month saw it’s OI rise by 1535 contracts up to 352,825.
We had 34 notice(s) filed upon today for 3,400 oz
For those keeping score: in the upcoming front delivery month of August:
LAST YEAR WE HAD A MONSTROUS 44.7 TONNES OF GOLD INITIALLY. BY THE CONCLUSION OF THE AUGUST CONTRACT MONTH 44.358 TONNES STOOD FOR DELIVERY.
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And now for the wild silver comex results. Total silver OI FELL BY 1605 contracts FROM 206,233 down to 204,833 WITH THURSDAY’S 10 CENT LOSS (AND DESPITE CONSTANT TORMENT THESE PAST FEW WEEKS). JUDGING FROM THE HIGH OPEN INTEREST GAIN IN GOLD, IT SEEMS THAT OUR BANKER FRIENDS AGAIN ARE DESPERATELY TRYING TO COVER THEIR SHORTS IN SILVER BUT AS YOU CAN SEE THAT THEY HAD SOME SUCCESS. THE NEW SHORT SPECULATORS HAVE BY NOW COVERED THEIR SHORTS. THE BANKERS AGAIN HAVE BEEN FORCED TO COVER A TINY AMOUNT OF THEIR MASSIVE SHORTFALL WITH THE 10 PRICE LOSS OF SILVER. IT CERTAINLY GIVES CREDENCE FOR THE RAID ON FRIDAY
We are now in the next big non active silver contract month of August and here the OI FELL BY 2 contracts DOWN TO 209. We had 2 notices filed yesterday. Thus we gained 0 contracts or an additional NIL oz will stand for delivery in this non active month of August.
The next active contract month is September (and the last active month until December) saw it’s OI fall by 3582 contacts down to 133,913. The next non active contract month for silver after September is October and here the OI gained 3 contacts up TO 31. After October, the big active contract month is December and here the OI gained by 2035 contracts up to 61,226 contracts.
We had 130 notice(s) filed for 650,000 oz for the AUGUST 2017 contract
VOLUMES: for the gold comex
Today the estimated volume was 283,637 contracts which is EXCELLENT/
Yesterday’s confirmed volume was 218,416 contracts which is GOOD
volumes on gold are STILL HIGHER THAN NORMAL!
Initial standings for AUGUST
August 4/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
17,682.500 oz
550 kilobars
Deposits to the Dealer Inventory in oz oz
Deposits to the Customer Inventory, in oz
nil oz
No of oz served (contracts) today
34 notice(s)
3400 OZ
No of oz to be served (notices)
2694 contracts
(269,400 oz)
Total monthly oz gold served (contracts) so far this month
3246 notices
324,600 oz
10.096 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 17,682.500 oz
Today we HAD 1 kilobar transaction(s)/
total dealer deposits: nil oz
We had nil dealer withdrawals:
total dealer withdrawals: 0 oz
we had 0 customer deposit(s):
total customer deposits;nil oz
We had 1 customer withdrawal(s)
i) out of Scotia : 17,682.500 oz (550 kilobars)
total customer withdrawals; 17,682.500 oz
we had 0 adjustment(s)
For AUGUST:
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 34 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 2 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.
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To calculate the initial total number of gold ounces standing for the AUGUST. contract month, we take the total number of notices filed so far for the month (3246) x 100 oz or 324,600 oz, to which we add the difference between the open interest for the front month of AUGUST (2752 contracts) minus the number of notices served upon today (34) x 100 oz per contract equals 589,300 oz, the number of ounces standing in this active month of AUGUST.
Thus the INITIAL standings for gold for the AUGUST contract month:
No of notices served so far (3246) x 100 oz or ounces + {(2728)OI for the front month minus the number of notices served upon today (34) x 100 oz which equals 594,000 oz standing in this active delivery month of AUGUST (18.475 tonnes)
we gained 49 contracts or an additional 4900 oz will stand for delivery and 0 EFP’s for August were issued. This is a welcomed change: gold early in the delivery cycle month not accepting an EFP and there is still a considerable 18.4 tonnes of gold standing. We had 23 tonnes of registered or for sale gold at the gold comex.
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Total dealer inventory 758,510.492 or 23.59 tonnes (dealer gold continues to disappear)
Total gold inventory (dealer and customer) = 8,675,082.184 or 269.83 tonnes
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 269.84 tonnes for a loss of 33 tonnes over that period. Since August 8/2016 we have lost 84 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 84 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE AUGUST DELIVERY MONTH
August initial standings
August 4 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
78,375.226 oz
Brinks
Delaware
Scotia
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
nil
oz
No of oz served today (contracts)
130 CONTRACT(S)
(650,000 OZ)
No of oz to be served (notices)
79 contracts
( 395,000 oz)
Total monthly oz silver served (contracts) 543 contracts (2,715,000 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 309,501.2 oz
today, we had 0 deposit(s) into the dealer account:
total dealer deposit: nil oz
we had 0 dealer withdrawals:
total dealer withdrawals: NIL oz
we had 3 customer withdrawal(s):
ii) out of Brinks: 10,989.54 oz
ii) out of Delaware: 6971.716 oz
iii) out of Scotia: 60,413.216
TOTAL CUSTOMER WITHDRAWALS: 78,375.216 oz
We had 0 Customer deposit(s):
***deposits into JPMorgan have stopped again
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
total customer deposits: nil oz
we had 1 adjustment(s)
Out of CNT: 146,094.309 oz was adjusted out of the dealer CNT into the customer account of CNT
The total number of notices filed today for the AUGUST. contract month is represented by 130 contract(s) for 650,000 oz. To calculate the number of silver ounces that will stand for delivery in AUGUST., we take the total number of notices filed for the month so far at 543 x 5,000 oz = 2,715,000 oz to which we add the difference between the open interest for the front month of AUGUST (209) and the number of notices served upon today (130) x 5000 oz equals the number of ounces standing
.
Thus the INITIAL standings for silver for the AUGUST contract month: 543 (notices served so far)x 5000 oz + OI for front month of AUGUST(209 ) -number of notices served upon today (130)x 5000 oz equals 3,110,000 oz of silver standing for the AUGUST contract month. This is extremely high for a non active delivery month. Silver is being constantly demanded at the silver comex and we witness again the amount of silver increases daily right from the get go.
We gained 0 contracts or an additional nil oz wishes to stand for delivery in this non active month of August and again 0 EFP’s were issued for the silver August month.
Volumes: for silver comex
Today the estimated volume was 111,216 which is GIGANTIC
YESTERDAY’s confirmed volume was 65,274 contracts which is HUGE
YESTERDAY’S CONFIRMED VOLUME OF 65,274 CONTRACTS WHICH EQUATES TO 326 MILLION OZ OF SILVER OR 47% 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: 38.398 million (close to record low inventory
Total number of dealer and customer silver: 215.665 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 7.9 percent to NAV usa funds and Negative 8.0% to NAV for Cdn funds!!!!
Percentage of fund in gold 62.5%
Percentage of fund in silver:37.5%
cash .+0.0%( August 4/2017)
2. Sprott silver fund (PSLV): STOCK NAV RISES TO +0.23% (August 4/2017)
3. Sprott gold fund (PHYS): premium to NAV FALLS TO -0.67% to NAV (August 4/2017 )
Note: Sprott silver trust back into POSITIVE territory at +0.23/Sprott physical gold trust is back into NEGATIVE/ territory at -0.67%/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
(courtesy Sprott/GATA)
Sprott makes hostile $3.1 billion bid for Central Fund of Canada
Submitted by cpowell on Thu, 2017-03-09 01:19. Section: Daily Dispatches
From the Canadian Press
via Canadian Broadcasting Corp. News, Toronto
Wednesday, March 8, 2017
http://www.cbc.ca/news/canada/calgary/sprott-takeover-bid-central-fund-c…
Toronto-based Sprott Inc. said Wednesday it’s making an all-share hostile takeover bid worth $3.1 billion US for rival bullion holder Central Fund of Canada Ltd.
The money-management firm has filed an application with the Court of Queen’s Bench of Alberta seeking to allow shareholders of Calgary-based Central Fund to swap their shares for ones in a newly-formed trust that would be substantially similar to Sprott’s existing precious metal holding entities.
The company is going through the courts after its efforts to strike a friendly deal were rebuffed by the Spicer family that controls Central Fund, said Sprott spokesman Glen Williams.
“They weren’t interested in having those discussions,” Williams said.
Sprott is using the courts to try to give holders of the 252 million non-voting class A shares a say in takeover bids, which Central Fund explicitly states they have no right to participate in. That voting right is reserved for the 40,000 common shares outstanding, which the family of J.C. Stefan Spicer, chairman and CEO of Central Fund, control.
If successful through the courts, Sprott would then need the support of two-thirds of shareholder votes to close the takeover deal, but there’s no guarantee they will make it that far.
“It is unusual to go this route,” said Williams. “There’s no specific precedent where this has worked.”
Sprott did have success last year in taking over Central GoldTrust, a similar fund that was controlled by the Spicer family, after securing support from more than 96 percent of shareholder votes cast.
The firm says Central Fund’s shares are trading at a discount to net asset value and a takeover by Sprott could unlock US$304 million in shareholder value.
Central Fund did not have any immediate comment on the unsolicited offer. Williams said Sprott had not yet heard from Central Fund on the proposal but that some shareholders had already contacted them to voice their support.
Sprott’s existing precious metal holding companies are designed to allow investors to own gold and other metals without having to worry about taking care of the physical bullion.
end
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MMgys
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And now the Gold inventory at the GLD
AUGUST 4/ANOTHER LOSS OF 4.48 TONNES OF GOLD FROM GLD INVENTORY/INVENTORY RESTS AT 787.14 TONNES.THIS IS A HUGE CRIME SCENE!!
August 3/no change in gold inventory at the GLD/Inventory rests at 791.88 tonnes
August 2/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 791.88 TONNES
Aug 1/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 791.88 TONNES
July 31/NO CHANGES AT THE GLD/INVENTORY RESTS AT 791.88 TONNES
July 28/ANOTHER MASSIVE WITHDRAWAL OF 3.54 TONNES OF GOLD WITH GOLD UP $9.15/INVENTORY RESTS AT 791.88 TONNES
July 27/LATE LAST NIGHT, A HUGE WITHDRAWAL OF 5.03 TONNES WITH GOLD UP $10.45 ON THE DAY/INVENTORY RESTS AT 795.42 TONNES
July 26/NO CHANGE IN GLD INVENTORY WITH GOLD DOWN $2.55/INVENTORY RESTS AT 800.45 TONNES
July 25/A MASSIVE 9.17 TONNES OF GOLD WITHDRAWN FROM THE GLD/INVENTORY RESTS AT 800.45 TONNES
July 24/A massive 9.62 tonnes withdrawal and yet the price remains constant (down only 25 cents)..inventory drops to 809.62 tonnes
July 21/with gold up $8.75 again, we had no changes in gold inventory at the GLD/inventory rests at 816.13 tonnes
July 20/WITH GOLD UP AGAIN TODAY ($3.50) WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 816.13 TONNES
jULY 19/STRANGE!! AGAIN WITH GOLD UP $0.50 WE HAD ANOTHER HUGE 5.32 TONNES WITHDRAWAL FROM THE GLD/INVENTORY RESTS AT 816.13 TONNES THIS GOLD IS HEADING TO SHANGHAI
July 18/STRANGE AGAIN/WITH GOLD UP $7.50 WE HAD ANOTHER HUGE 5.62 TONNES WITHDRAWAL FROM THE GLD/INVENTORY RESTS AT 821.45 TONNES
July 17/strange again! with gold up $4.20 we had another huge withdrawal of 1.77 tonnes/inventory rests at 827.07 tonnes
July 14/strange@!!with gold up $12.00 today, we had a huge withdrawal of 3.55 tonnes/inventory rests at 828.84 tonnes
July 13/no change in gold inventory at the GLD/inventory rests at 832.39 tonnes
JULY 12/no change in gold inventory at the GLD/inventory rests at 832.39 tonnes
July 11/strange!@! we had a big withdrawal of 2.96 tonnes despite gold’s advance today/inventory rests tonight at 832.39 tonnes
July 10/no changes in gold inventory at the GLD/inventory rests at 835.35 tonnes
July 7/a massive withdrawal of 5.32 tonnes of paper gold were removed and this was used in the attack today/inventory rests at 835.35 tonnes
July 6/no changes in tonnage at the GLD/Inventory rests at 840.67 tonnes
July 5/A MASSIVE 5.62 TONNES OF GOLD LEFT THE GLD AND NO DOUBT WAS USED IN THE RAID THIS MORNING/INVENTORY REST
July 3/ A MASSIVE 7.37 TONNES OF GOLD LEAVE THE GLD/INVENTORY RESTS AT 846.29 TONNES
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August 4 /2017/ Inventory rests tonight at 787.14 tonnes
*IN LAST 204 TRADING DAYS: 162.84 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 145 TRADING DAYS: A NET 5.41 TONNES HAVE NOW BEEN WITHDRAWN FROM GLD INVENTORY.
*FROM FEB 1/2017: A NET 22.22 TONNES HAVE BEEN WITHDRAWN.
end
Now the SLV Inventory
AUGUST 4/A WITHDRAWAL OF 945,000 OZ/INVENTORY RESTS AT 339.606 MILLION OZ
August 3/A WITHDRAWAL OF 1,181,000 OZ FROM THE SLV/INVENTOR RESTS AT 340.551 MILLION OZ/
August 2/NO CHANGES IN SILVER INVENTORY AT THE SLV
INVENTORY RESTS AT 341.732 MILLION OZ/
August 1/A HUGE WITHDRAWAL OF 945,000 OZ/INVENTORY RESTS AT 341.732 MILLION OZ/
July 31/no change in silver inventory at the SLV/inventory rests at 342.677 million oz
July 28/ A HUGE WITHDRAWAL OF 1.15 MILLION OZ OF SILVER LEAVES THE SLV DESPITE SILVER BEING UP 11 CENTS TODAY/INVENTORY RESTS AT 342.677 MILLION OZ
July 27/NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 343.812 MILLION OZ WITH SILVER UP 13 CENTS TODAY.
July 26/NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 343.812 MILLION OZ
July 25/A MASSIVE 3.309 MILLION OZ OF INVENTORY WITHDRAWN FROM THE SLV DESPITE SILVER’S 10 CENT RISE TODAY.
July 24/no change in silver inventory despite its 4 cent drop/inventory remains at 347.121 million oz
July 21/STRANGE! WITH SILVER UP AGAIN TODAY (11 CENTS), NO CHANGE IN SILVER INVENTORY AT THE SLV/inventory 347.121 million oz/
July 20/STRANGE! WITH SILVER UP AGAIN TODAY, THE SLV INVENTORY LOWERS BY 945,000 OZ/INVENTORY RESTS AT 347.121 MILLION OZ/
July 19/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 348.066 MILLION OZ
July 18/a huge 946,000 oz withdrawal from the SLV despite silver’s 16 cent gain!
Inventory rests at 348.066 million oz
July 17/no change in silver inventory at the SLV/Inventory rests at 349.012 million oz
July 14/no change in silver inventory/inventory rests at 349.012 million oz/
July 13/no change in silver inventory/inventory at the SLV rests at 349.012 million oz/
JULY 12/another massive 1.986 million oz of silver added into the SLV/inventory rests at 349.012 million oz/the last 3 days saw 7.281 million oz added into the SV
July 11/ANOTHER MASSIVE INCREASE OF 2.364 MILLION OZ into the SLV inventory/inventory rests at 347.026 million oz
July 10/ A HUGE INCREASE OF 2.931 MILLION OZ OF SILVER DESPITE THE EARLY HIT ON SILVER THIS MORNING/INVENTORY RESTS AT 344.662 MILLION OZ.
July 7/Strange: no change in inventory (compare that with gold) Inventory rests at 341.731 million oz
July 6/ANOTHER MASSIVE DEPOSIT OF 2.126 MILLION OZ INTO THE SLV INVENTORY/INVENTORY RESTS AT 341.731 MILLION OZ.
July 5/STRANGE! NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 339.605 MILLION OZ
July 3/strange! with the huge whacking of silver we got an increase of 379,000 oz into inventory.
August 4.2017:
Inventory 339.606 million oz
end
6 Month MM GOFO
Indicative gold forward offer rate for a 6 month duration
+ 1.26%
12 Month MM GOFO
+ 1.46%
30 day trend
end
Here is a review of the 3 latest comex waterfall (whacks) on gold and silver not including the current one we are undergoing. I have taken the nadir of the gold price before it started to rise again and compared it to OI in both gold and silver with the OPEN INTEREST. The OI readings are the following day but we are always one day behind so this compares exactly to the nadir price.
First waterfall ended Oct 6 2016/ Nadir price of gold at that date Oct 6 2016 : $1254.70 / OI for gold Oct 7/2016: 511,340//OI for silver/Oct 7.2016: 194,811
Second waterfall ended Dec 15.2016:Nadir Price of gold Dec 15.2016: $1128.20 //OI for gold Dec 16/2016 401,798// OI for silver: Dec 16/16 161,570
Third waterfall ended May 10/2017: Nadir Price of gold May 10 2016: $1220.95 // OI for gold May 11: 425,252// OI for silver May 11/17: 199,826
and for comparison while we are undergoing another waterfall these past several weeks
Today’s price of gold $1258.80 OI for gold today: 457,779//Oi for silver 204,833
The first waterfall corresponds to a silver price of $17.30 on Oct 6
The second waterfall corresponds to a silver price of $15.90 on Dec 15
The third waterfall corresponds to a silver price of $17.37 on May 10
and today: silver price of $16.30
Since the bottom of the second waterfall the price of gold at its nadir is about the same ($1220 and $1226), but the OI for gold is much higher along with silver OI also much higher. (425,252 and 457.779 OI for gold) accompanying 199,826 and 204,833 for silver)
It seems the data suggests power manipulation to control the price through paper!
END
At 3:30 pm we receive the COT report. This report is as of Tuesday August 1.
Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
239,766 110,094 39,997 126,891 270,276 406,654 420,367
Change from Prior Reporting Period
19,467 -19,374 -11,218 -22,035 18,007 -13,786 -12,585
Traders
151 109 73 51 56 238 206
Small Speculators
Long Short Open Interest
42,055 28,342 448,709
-1,332 -2,533 -15,118
non reportable positions
Change from the previous reporting period
COT Gold Report – Positions as of Tuesday, August 1, 201
Our large speculators:
Those large specs that have been long in gold piled back into the comex gold casino for a gain of a whopping 19,467 contacts
those large specs that have been short in gold covered a huge 19,374 contracts from their short side
specs go net long by 38,900 contracts
Our commercials
those commercials who were net long in gold pitched a monstrous 22,035 contracts from their long side
those commercials who have been short in gold added a monstrous 18,007 contracts to their short side
commercials go net short 40,000 contracts and this set up Friday’s raid. It was all pre ordained.
Our small specs:
those small specs that have been long gold covered 1332 contracts from their short side
those small specs that have been short in gold covered 2533 contracts
Conclusions: reason for the raid on gold yesterday.it will all pre ordained.
and now silver COT
Silver COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
92,259 61,500 31,018 60,593 100,260 183,870 192,778
1,394 -9,948 4,093 -3,182 6,953 2,305 1,098
Traders
98 57 48 37 38 155 126
Small Speculators
Long Short Open Interest
23,388 14,480 207,258
-1,394 -187 911
non reportable positions
Change from the previous reporting period
COT Silver Report – Positions as of Tuesday, August 1, 2017
Our large speculators:
those large specs that have been long in silver added a tiny 1394 contracts to their long side
those large specs that have been short in silver covered a huge 9948 contracts from their short side.
Our commercials
those commercials that have been long in silver pitched 3182 contracts from their long side
those commercials that have been short in silver added 6953 contracts.
commercials go net short by only 10,000 contracts..still have considerable trouble trying to cover their huge shortfall in silver.
Our small specs:
those small specs that have been long in silver pitched 1394 contracts from their long side
those small specs that have been short in silver covered 187 contracts from their short side.
Conclusions; reason for the whack in silver yesterday; the extremely high oI and the lack of shedding by the longs.
Major gold/silver trading/commentaries for FRIDAY
GOLDCORE/BLOG/MARK O’BYRNE.
GOLD/SILVER
Gold Consolidates On 2.5% Gain In July After Dollar Has 5th Monthly Decline
By Mark O’Byrne August 4, 2017 No Comments
– Gold consolidates on 2.5% gain in July as the dollar has fifth monthly decline
– Trump administration and vicious “civil war” politics casting shadow over America and impacting dollar
– All eyes on non farm payrolls today for further signs of weakness in U.S. economy
– Gold recovers from 1.7% decline in June as dollar falls
– Gold outperforms stocks and benchmark S&P 500 YTD
– Gold gains 10.8% versus 10.6% gain for S&P – led by frothy tech sector (see performance table)
– Gold outperforms stocks globally – Euro Stoxx 50 up 5.7% ytd, FTSE up 4.8% and Nikkei up 4.5%
– Gold’s technicals increasingly positive; now trading above its 50-day & 200-day moving averages & looks set to target $1,300 again
Gold held steady today in Asian and European trading and was flat for the week, consolidating near the $1,270 per ounce level and the 2.5% gain seen in July.
It remains close to a seven-week high hit this week, as the dollar remains weak and vulnerable near multi-month lows after five consecutive months of declines.
The dollar index, which tracks the greenback against a basket of six major peers, is languishing near 15-month lows hit earlier this week.
“All eyes” are again on the monthly U.S. nonfarm payrolls data due today amid continuing very high levels of U.S. and global political uncertainty.
Traders awaiting July’s employment repor for clues about the health of the U.S. economy after recent data highlighted risks to the downside. This is underlining how difficult it will be for the U.S. Federal Reserve to raise interest rates – even from these historically low levels in the current range between 1% and 1.25%.
The complete mess that is the Trump administration and U.S. politics was underlined again this week.
Robert Mueller, the U.S. Special Counsel, has convened a grand jury investigation in Washington to examine allegations of Russian interference in last year’s contentious election and has started issuing subpoenas, according to sources familiar with the situation said on yesterday.
The dollar looks very vulnerable to further falls. Trump and the Republicans have seen repeated failures. These include overhauling healthcare. Now there is multiple congressional and federal investigations into President Donald Trump’s campaign.
This is casting a shadow over his first six months in office and the vicious “civil war” politics that the U.S. finds itself in is casting a shadow over U.S. politics and America’s place in the world.
Gold is performing very well this year and yet sentiment remains poor with little media coverage of gold’s robust performance year to date.
Gold has outperformed stocks and the benchmark S&P 500 YTD with gains of 10.8% versus a 10.6% gain in the S&P 500. Much of the gains are due to surge in prices in the increasingly frothy tech sector.
Indeed, gold is outperforming stocks globally – the Euro Stoxx 50 is up 5.7% ytd, the FTSE up 4.8% and the Nikkei up 4.5%.
Silver gained 1% in July and is 5% higher so far this year.
Gold’s technicals look very good and it now trading above its 50-day and 200-day moving averages and looks set to target $1,300 again this month.
A daily or weekly close above $1,300 per ounce should see gold make quick gains and challenge the intermediate high of $1,361/oz seen 13 months ago. Next levels of resistance are $1,380 and $1,416.
A failure to breach $1,300 in the coming days and weeks could see gold fall back to test very strong support at $1,200 per ounce.
Updates This Week
Gold Coins and Bars See Demand Rise of 11% in H2, 2017
Greenspan Warns Stagflation Like 1970s “Not Good For Asset Prices”
What Investors Can Learn From the Japanese Art of Kintsukuroi
Bitcoin, ICO Risk Versus Immutable Gold and Silver
News and Commentary
Gold dips in Asia ahead of US nonfarm payrolls (Nasdaq.com)
Gold steady after nearing seven-week highs, US jobs data awaited (CNBC.com)
Gold Holders Stay Loyal to BlackRock iShares As Investors Flee More Expensive ETF (Bloomberg.com)
Britain faces an ‘explosive debt trajectory’ in the next 50 years if it ends austerity (BusinessInsider.com)
Pound plunges as Bank of England holds interest rates and cuts growth forecast on ‘Super Thursday’ (Telegraph.co.uk)
Gold at half the S&P. Multi-year low? Source: Frisby via Money Week
Miners and emerging markets look good as does gold – Frisby (MoneyWeek.com)
Surprise! Gold Prices Have Beaten the Market So Far this Century (Forbes.com)
Risk, Uncertainty And Markets – Dr Gurdgiev (SeekingAlpha.com)
There is $300 billion worth of gold locked in the vaults of London (QZ.com)
World’s Biggest Pension Fund Rides Stocks to $46 Billion Gain (Bloomberg.com)
Gold Prices (LBMA AM)
04 Aug: USD 1,269.30, GBP 964.92 & EUR 1,068.37 per ounce
03 Aug: USD 1,261.80, GBP 952.41 & EUR 1,064.96 per ounce
02 Aug: USD 1,266.65, GBP 956.83 & EUR 1,069.56 per ounce
01 Aug: USD 1,267.05, GBP 957.76 & EUR 1,072.30 per ounce
31 Jul: USD 1,266.35, GBP 965.59 & EUR 1,079.06 per ounce
28 Jul: USD 1,259.60, GBP 961.96 & EUR 1,075.45 per ounce
27 Jul: USD 1,262.05, GBP 960.29 & EUR 1,076.53 per ounce
Silver Prices (LBMA)
04 Aug: USD 16.70, GBP 12.71 & EUR 14.07 per ounce
03 Aug: USD 16.47, GBP 12.50 & EUR 13.91 per ounce
02 Aug: USD 16.67, GBP 12.60 & EUR 14.09 per ounce
01 Aug: USD 16.74, GBP 12.67 & EUR 14.17 per ounce
31 Jul: USD 16.76, GBP 12.77 & EUR 14.29 per ounce
28 Jul: USD 16.56, GBP 12.66 & EUR 14.15 per ounce
27 Jul: USD 16.79, GBP 12.77 & EUR 14.34 per ounce
Recent Market Updates
– Gold Coins and Bars See Demand Rise of 11% in H2, 2017
– Greenspan Warns Stagflation Like 1970s “Not Good For Asset Prices”
– What Investors Can Learn From the Japanese Art of Kintsukuroi
– Bitcoin, ICO Risk Versus Immutable Gold and Silver
– This Is Why Shrinkflation Is Making You Poor
– Gold A Good Store Of Value – Protect From $217 Trillion Global Debt Bubble
– Why Surging UK Household Debt Will Cause The Next Crisis
– Gold Seasonal Sweet Spot – August and September – Coming
– Commercial Property Market In Dublin Is Inflated and May Burst Again
– Gold Hedges Against Currency Devaluation and Cost Of Fuel, Food, Beer and Housing
– Millennials Can Punt On Bitcoin, Own Gold and Silver For Long Term
– “Time To Position In Gold Is Right Now” says Jim Rickards
– Bloomberg Silver Price Survey – Median 12 Month Forecast Of $20
END
http://www.silverdoctors.com/tag/harvey-organ/
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Thank You Harvey Always Good Stuff
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“Inflate or Die,” Peak Silver and Gold’s Coming Breakout
“Inflate or die” was Richard Russell’s characterization of our economic system and the central bank response to most problems during the past three decades.
INFLATE THE CURRENCY SUPPLY! Examine the currency supply as measured by M3 and reported by the St. Louis Fed.
https://goldstockbull.com/articles/inflate-or-die-peak-silver-and-golds-coming-breakout/
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Wishing You A Great Sunday <3
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MMgys
.jpg)
Good Morning
MMgys
Harveys Rolling Us Away Tonight TY Harvey and All
Here's the Data
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August 5/
Absolutely phony jobs report sends gold down $10.50 and silver down 34 cents/GLD loses another 4.48 tonnes of gold/ Silver loses 945,000 oz/
August 5, 2017 · by Harvey Organ ·
GOLD: $1258.70 DOWN $10.50
Silver: $16.30 DOWN 34 cent(s)
Closing access prices:
Gold $1259.00
silver: $16.30
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: $1275.00 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1269.40
PREMIUM FIRST FIX: $5.60
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SECOND SHANGHAI GOLD FIX: $1275,00
NY GOLD PRICE AT THE EXACT SAME TIME: $1269.40
Premium of Shanghai 2nd fix/NY:$5.60
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LONDON FIRST GOLD FIX: 5:30 am est $1261.80
NY PRICING AT THE EXACT SAME TIME: $1262.25
LONDON SECOND GOLD FIX 10 AM: $1269.30
NY PRICING AT THE EXACT SAME TIME. $1257.20
For comex gold:
AUGUST/
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 34 NOTICE(S) FOR 3400 OZ.
TOTAL NOTICES SO FAR: 3246 FOR 324,600 OZ (10.096 TONNES)
For silver:
AUGUST
130 NOTICES FILED TODAY FOR
650,000 OZ/
Total number of notices filed so far this month: 543 for 2,715,000 oz
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
end
You can see for yourself the total falsification of data in the jobs report. Actually the real number was a huge loss. However the attack on Friday was pre-ordained as the gold OI was getting frothy and the silver OI stubbornly remained at extreme lofty levels.
As a little bonus, because I am writing this on Saturday, we get to see the preliminary numbers released close to midnight last night for the Monday trading day.
The open interest for the gold complex fell by 7911 contracts down to 449,868. With the $10.50 drop in gold this was to be expected. When the final numbers come in on Monday it will drop even further.
To highlight the frustration by the bankers with respect to silver, you only have to look at the OI for silver. With the huge 34 cent drop one would have expected the OI to drop considerably. Nope!! it rose by 300 contracts despite the shellacking silver took.
Let us have a look at the data for today
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In silver, the total open interest FELL BY 1605 contracts from 206,233 DOWN to 204,833 WITH THE FALL IN THE PRICE THAT SILVER TOOK WITH RESPECT TO YESTERDAY’S TRADING (DOWN 10 CENT(S). WHEN YOU COMPARE THE HUGE GAIN IN OI FOR GOLD THEN YOU MUST ADMIT THAT WE MUST HAVE HAD SOME BANKER SHORT COVERING WITH THE MAJORITY OF OUR LONGS BASICALLY REMAIN STOIC AND LOSING SOME OF THEIR SILVER LEAVES FROM OUR SILVER TREE.
In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.024 BILLION TO BE EXACT or 146% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 130 NOTICE(S) FOR 650,000 OZ OF SILVER
In gold, the open interest ROSE by A CONSIDERABLE 2,174 despite the FALL in price of gold ($3.65 yesterday.) The new OI for the gold complex rests at 457,779. On Thursday we had the bankers supplying a major amount of short paper to newbie longs who entered the arena again like gangbusters. The bankers had no choice but to supply that paper on the short side and lower prices but could not cover any of their shortfall. Thus the rise in OI despite the fall in price. The bankers needed a massive raid because it seems that they were losing control over the precious metal markets
we had: 34 notice(s) filed upon for 3400 oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD:
Today, another huge changes in gold inventory: a withdrawal of 4.48 tonnes from the GLD
Inventory rests tonight: 787.14 tonnes
IN THE LAST 16 DAYS: GLD SHEDS 50.1 TONNES YET GOLD IS HIGHER BY $45.20 . GO FIGURE!!
SLV
Today: : WE ANOTHER HUGE CHANGES IN SILVER INVENTORY TONIGHT: A WITHDRAWAL OF 945,000 OZ FROM THE SLV
INVENTORY RESTS AT 339.606 MILLION OZ
end
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver FALL BY 1605 contracts from 206,233 down to 204,833 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787). THE FALL IN OPEN INTEREST WAS ACCOMPANIED BY A SMALL LOSS IN PRICE FOR SILVER WITH RESPECT TO YESTERDAY’S TRADING (DOWN 10 CENTS ). WHEN WE SEE THE GOOD SIZED RISE IN GOLD OPEN INTEREST YESTERDAY, WE NO DOUBT WITNESSED SOME BANK SHORT COVERING AS THEY THOUGHT THE TEMPERATURE WAS A LITTLE TOO HOT FOR THEM. WE NO DOUBT HAD SOME NEW SPEC LONGS ENTER THE ARENA. THE MAJORITY OF THE LONGS REMAIN STOIC AND NOTHING IN THE WORLD WILL FORCE THEM OFF THE SILVER TREE.
(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 THURSDAY night/FRIDAY morning: Shanghai closed DOWN 10.85 POINTS OR 0.33% / /Hang Sang CLOSED UP 31.67 POINTS OR 0.12% The Nikkei closed DOWN 76.93 POINTS OR .38%/Australia’s all ordinaires CLOSED DOWN 0.23%/Chinese yuan (ONSHORE) closed UP at 6.7204/Oil DOWN to 48.83 dollars per barrel for WTI and 51.80 for Brent. Stocks in Europe OPENED IN THE GREEN , Offshore yuan trades 6.7222 yuan to the dollar vs 6.7204 for onshore yuan. NOW THE OFFSHORE IS WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN STRONGER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS STRONGER TO THE DOLLAR AND THIS IS COUPLED WITH THE SLIGHTLY WEAKER DOLLAR. CHINA IS HAPPY TODAY
3a)THAILAND/SOUTH KOREA/NORTH KOREA
i)NORTH KOREA//USA
b) REPORT ON JAPAN
c) REPORT ON CHINA
( zero hedge)
4. EUROPEAN AFFAIRS
i)Insanity: Draghi’s push into corporates has caused the junk bond market to yield only 2.49%
( zero hedge)
ii)Insanity: the EU imposes more sanctions against Russia as they blacklist the Deputy Energy Minister. The Russians are accused of supplying gas to the Crimea. Germany is no doubt furious as this will hurt them terribly
(courtesy zerohedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
i)The Kremlin responds to the sanctions and agrees with Trump that this is very dangerous
( zero hedge)
ii)The Russian lawyer in the Donald Trump Jr scandal slams the congressional inquiry as they do not want the truth( zero hedge)
6 .GLOBAL ISSUES
Mish Shedlock comments on the missing piece on global inflation. Actually we are experiencing inflation but not what the bozos want: wage inflation.
( Mish Shedlock/Mishtalk)
7. OIL ISSUES
The rig count drops again for the 3rd time in 6 weeks as production rises
( zero hedge)
8. EMERGING MARKET
9. PHYSICAL MARKETS
i)Dave Kranzler talks about the flash crash of 10,777 contracts in the most illiquid time zone at 7:06 pm est
( Dave Kranzler/IRD)
ii)Gold demand is up 3.5% this year from China. This is for only its citizens and not sovereign demand which is separate( Lawrie Williams/Sharp Pixley)
10. USA Stories
i)the official jobs numbers: a beat by 209,000 jobs. All of the gains were of the “seasonable adjustment” category. Adjusted saw a 1.3 million decline. Shear nonsense!
( zero hedge)
ii)What a phony jobs report: the big gains again in waiters and bartenders, the lowest on the wage scale totem pole:
( zerohedge)
iii)Looking deeper into the number:
393,000 part time jobs were added, offset by a drop of 54,000 full-time workers
and the algos reacted to the gain not realizing that a huge 54,000 full time workers lost their jobs
(zerohedge)
iv)Another disturbing data point: only gains in employment with a high school diploma or lower
( zero hedge)
v)The last word on the phony jobs report courtesy of Dave Kranzler.
One of the key numbers of the fake phony numbers is the Birth Death plug. For our newcomers, the BLS records the losses of jobs when businesses die (Death), then they pick out of thin air, their guess as to new businesses created. The net difference is the B/D and even though there has been a huge decline in new businesses over the past 40 years, these bozos always give a huge increase and this is a total falsehood. To give you the absurdity of the numbers; this week, the construction industry report showed a huge 10% drop in June. The bozos in the B/D added 10,000 construction jobs in June. The real answer then for the jobs report is huge decline in meaningful jobs.
(Dave Kranzler/IRD)
vi)Paul Craig Roberts:
Roberts explains the hoax created by the Democrats in their witch hunt to remove Trump from the Presidency
( Paul Craig Roberts)
vii)Sessions declares war on the leakers and will charge them with criminal activity:
( zero hedge)
viii)Wells Fargo is trouble again after a 10Q reveals significantly more fake accounts
what else is new with these crooks
(courtesy zero hedge)
Let us head over to the comex:
The total gold comex open interest ROSE BY A GOOD SIZED 2174 CONTRACTS UP to an OI level of 457,779 DESPITE THE FALL IN THE PRICE OF GOLD ($3.65 with THURSDAY’S trading). We again had a good sized number of newbie longs enter the gold area to which our crooked bankers were more than happy to comply with an ever increasing supply of short paper. The specs shorts covered as fast as their feet could carry them.The result a higher open interest despite the lower price.
We are now in the contract month of August and it is the 3rd best of the delivery months after December and June.
The active August contract LOST 24 contract(s) to stand at 2728 contracts. We had 73 notices filed upon yesterday so we gained 49 contracts or an additional 4900 oz will stand at the comex and 0 EFP’s were issued which entitles the long holder to a fiat bonus plus a futures contract and most probably that would be a London based forward.
The non active September contract month saw it’s OI gain by 93 contracts up to 2013.
The next active contract month is Oct and here we saw a gain of 301 contracts up to 48,534.
The very big active December contract month saw it’s OI rise by 1535 contracts up to 352,825.
We had 34 notice(s) filed upon today for 3,400 oz
For those keeping score: in the upcoming front delivery month of August:
LAST YEAR WE HAD A MONSTROUS 44.7 TONNES OF GOLD INITIALLY. BY THE CONCLUSION OF THE AUGUST CONTRACT MONTH 44.358 TONNES STOOD FOR DELIVERY.
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And now for the wild silver comex results. Total silver OI FELL BY 1605 contracts FROM 206,233 down to 204,833 WITH THURSDAY’S 10 CENT LOSS (AND DESPITE CONSTANT TORMENT THESE PAST FEW WEEKS). JUDGING FROM THE HIGH OPEN INTEREST GAIN IN GOLD, IT SEEMS THAT OUR BANKER FRIENDS AGAIN ARE DESPERATELY TRYING TO COVER THEIR SHORTS IN SILVER BUT AS YOU CAN SEE THAT THEY HAD SOME SUCCESS. THE NEW SHORT SPECULATORS HAVE BY NOW COVERED THEIR SHORTS. THE BANKERS AGAIN HAVE BEEN FORCED TO COVER A TINY AMOUNT OF THEIR MASSIVE SHORTFALL WITH THE 10 PRICE LOSS OF SILVER. IT CERTAINLY GIVES CREDENCE FOR THE RAID ON FRIDAY
We are now in the next big non active silver contract month of August and here the OI FELL BY 2 contracts DOWN TO 209. We had 2 notices filed yesterday. Thus we gained 0 contracts or an additional NIL oz will stand for delivery in this non active month of August.
The next active contract month is September (and the last active month until December) saw it’s OI fall by 3582 contacts down to 133,913. The next non active contract month for silver after September is October and here the OI gained 3 contacts up TO 31. After October, the big active contract month is December and here the OI gained by 2035 contracts up to 61,226 contracts.
We had 130 notice(s) filed for 650,000 oz for the AUGUST 2017 contract
VOLUMES: for the gold comex
Today the estimated volume was 283,637 contracts which is EXCELLENT/
Yesterday’s confirmed volume was 218,416 contracts which is GOOD
volumes on gold are STILL HIGHER THAN NORMAL!
Initial standings for AUGUST
August 4/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
17,682.500 oz
550 kilobars
Deposits to the Dealer Inventory in oz oz
Deposits to the Customer Inventory, in oz
nil oz
No of oz served (contracts) today
34 notice(s)
3400 OZ
No of oz to be served (notices)
2694 contracts
(269,400 oz)
Total monthly oz gold served (contracts) so far this month
3246 notices
324,600 oz
10.096 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 17,682.500 oz
Today we HAD 1 kilobar transaction(s)/
total dealer deposits: nil oz
We had nil dealer withdrawals:
total dealer withdrawals: 0 oz
we had 0 customer deposit(s):
total customer deposits;nil oz
We had 1 customer withdrawal(s)
i) out of Scotia : 17,682.500 oz (550 kilobars)
total customer withdrawals; 17,682.500 oz
we had 0 adjustment(s)
For AUGUST:
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 34 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 2 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.
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To calculate the initial total number of gold ounces standing for the AUGUST. contract month, we take the total number of notices filed so far for the month (3246) x 100 oz or 324,600 oz, to which we add the difference between the open interest for the front month of AUGUST (2752 contracts) minus the number of notices served upon today (34) x 100 oz per contract equals 589,300 oz, the number of ounces standing in this active month of AUGUST.
Thus the INITIAL standings for gold for the AUGUST contract month:
No of notices served so far (3246) x 100 oz or ounces + {(2728)OI for the front month minus the number of notices served upon today (34) x 100 oz which equals 594,000 oz standing in this active delivery month of AUGUST (18.475 tonnes)
we gained 49 contracts or an additional 4900 oz will stand for delivery and 0 EFP’s for August were issued. This is a welcomed change: gold early in the delivery cycle month not accepting an EFP and there is still a considerable 18.4 tonnes of gold standing. We had 23 tonnes of registered or for sale gold at the gold comex.
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Total dealer inventory 758,510.492 or 23.59 tonnes (dealer gold continues to disappear)
Total gold inventory (dealer and customer) = 8,675,082.184 or 269.83 tonnes
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 269.84 tonnes for a loss of 33 tonnes over that period. Since August 8/2016 we have lost 84 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 84 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE AUGUST DELIVERY MONTH
August initial standings
August 4 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
78,375.226 oz
Brinks
Delaware
Scotia
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
nil
oz
No of oz served today (contracts)
130 CONTRACT(S)
(650,000 OZ)
No of oz to be served (notices)
79 contracts
( 395,000 oz)
Total monthly oz silver served (contracts) 543 contracts (2,715,000 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 309,501.2 oz
today, we had 0 deposit(s) into the dealer account:
total dealer deposit: nil oz
we had 0 dealer withdrawals:
total dealer withdrawals: NIL oz
we had 3 customer withdrawal(s):
ii) out of Brinks: 10,989.54 oz
ii) out of Delaware: 6971.716 oz
iii) out of Scotia: 60,413.216
TOTAL CUSTOMER WITHDRAWALS: 78,375.216 oz
We had 0 Customer deposit(s):
***deposits into JPMorgan have stopped again
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
total customer deposits: nil oz
we had 1 adjustment(s)
Out of CNT: 146,094.309 oz was adjusted out of the dealer CNT into the customer account of CNT
The total number of notices filed today for the AUGUST. contract month is represented by 130 contract(s) for 650,000 oz. To calculate the number of silver ounces that will stand for delivery in AUGUST., we take the total number of notices filed for the month so far at 543 x 5,000 oz = 2,715,000 oz to which we add the difference between the open interest for the front month of AUGUST (209) and the number of notices served upon today (130) x 5000 oz equals the number of ounces standing
.
Thus the INITIAL standings for silver for the AUGUST contract month: 543 (notices served so far)x 5000 oz + OI for front month of AUGUST(209 ) -number of notices served upon today (130)x 5000 oz equals 3,110,000 oz of silver standing for the AUGUST contract month. This is extremely high for a non active delivery month. Silver is being constantly demanded at the silver comex and we witness again the amount of silver increases daily right from the get go.
We gained 0 contracts or an additional nil oz wishes to stand for delivery in this non active month of August and again 0 EFP’s were issued for the silver August month.
Volumes: for silver comex
Today the estimated volume was 111,216 which is GIGANTIC
YESTERDAY’s confirmed volume was 65,274 contracts which is HUGE
YESTERDAY’S CONFIRMED VOLUME OF 65,274 CONTRACTS WHICH EQUATES TO 326 MILLION OZ OF SILVER OR 47% 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: 38.398 million (close to record low inventory
Total number of dealer and customer silver: 215.665 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 7.9 percent to NAV usa funds and Negative 8.0% to NAV for Cdn funds!!!!
Percentage of fund in gold 62.5%
Percentage of fund in silver:37.5%
cash .+0.0%( August 4/2017)
2. Sprott silver fund (PSLV): STOCK NAV RISES TO +0.23% (August 4/2017)
3. Sprott gold fund (PHYS): premium to NAV FALLS TO -0.67% to NAV (August 4/2017 )
Note: Sprott silver trust back into POSITIVE territory at +0.23/Sprott physical gold trust is back into NEGATIVE/ territory at -0.67%/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
(courtesy Sprott/GATA)
Sprott makes hostile $3.1 billion bid for Central Fund of Canada
Submitted by cpowell on Thu, 2017-03-09 01:19. Section: Daily Dispatches
From the Canadian Press
via Canadian Broadcasting Corp. News, Toronto
Wednesday, March 8, 2017
http://www.cbc.ca/news/canada/calgary/sprott-takeover-bid-central-fund-c…
Toronto-based Sprott Inc. said Wednesday it’s making an all-share hostile takeover bid worth $3.1 billion US for rival bullion holder Central Fund of Canada Ltd.
The money-management firm has filed an application with the Court of Queen’s Bench of Alberta seeking to allow shareholders of Calgary-based Central Fund to swap their shares for ones in a newly-formed trust that would be substantially similar to Sprott’s existing precious metal holding entities.
The company is going through the courts after its efforts to strike a friendly deal were rebuffed by the Spicer family that controls Central Fund, said Sprott spokesman Glen Williams.
“They weren’t interested in having those discussions,” Williams said.
Sprott is using the courts to try to give holders of the 252 million non-voting class A shares a say in takeover bids, which Central Fund explicitly states they have no right to participate in. That voting right is reserved for the 40,000 common shares outstanding, which the family of J.C. Stefan Spicer, chairman and CEO of Central Fund, control.
If successful through the courts, Sprott would then need the support of two-thirds of shareholder votes to close the takeover deal, but there’s no guarantee they will make it that far.
“It is unusual to go this route,” said Williams. “There’s no specific precedent where this has worked.”
Sprott did have success last year in taking over Central GoldTrust, a similar fund that was controlled by the Spicer family, after securing support from more than 96 percent of shareholder votes cast.
The firm says Central Fund’s shares are trading at a discount to net asset value and a takeover by Sprott could unlock US$304 million in shareholder value.
Central Fund did not have any immediate comment on the unsolicited offer. Williams said Sprott had not yet heard from Central Fund on the proposal but that some shareholders had already contacted them to voice their support.
Sprott’s existing precious metal holding companies are designed to allow investors to own gold and other metals without having to worry about taking care of the physical bullion.
end
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MMgys
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And now the Gold inventory at the GLD
AUGUST 4/ANOTHER LOSS OF 4.48 TONNES OF GOLD FROM GLD INVENTORY/INVENTORY RESTS AT 787.14 TONNES.THIS IS A HUGE CRIME SCENE!!
August 3/no change in gold inventory at the GLD/Inventory rests at 791.88 tonnes
August 2/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 791.88 TONNES
Aug 1/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 791.88 TONNES
July 31/NO CHANGES AT THE GLD/INVENTORY RESTS AT 791.88 TONNES
July 28/ANOTHER MASSIVE WITHDRAWAL OF 3.54 TONNES OF GOLD WITH GOLD UP $9.15/INVENTORY RESTS AT 791.88 TONNES
July 27/LATE LAST NIGHT, A HUGE WITHDRAWAL OF 5.03 TONNES WITH GOLD UP $10.45 ON THE DAY/INVENTORY RESTS AT 795.42 TONNES
July 26/NO CHANGE IN GLD INVENTORY WITH GOLD DOWN $2.55/INVENTORY RESTS AT 800.45 TONNES
July 25/A MASSIVE 9.17 TONNES OF GOLD WITHDRAWN FROM THE GLD/INVENTORY RESTS AT 800.45 TONNES
July 24/A massive 9.62 tonnes withdrawal and yet the price remains constant (down only 25 cents)..inventory drops to 809.62 tonnes
July 21/with gold up $8.75 again, we had no changes in gold inventory at the GLD/inventory rests at 816.13 tonnes
July 20/WITH GOLD UP AGAIN TODAY ($3.50) WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 816.13 TONNES
jULY 19/STRANGE!! AGAIN WITH GOLD UP $0.50 WE HAD ANOTHER HUGE 5.32 TONNES WITHDRAWAL FROM THE GLD/INVENTORY RESTS AT 816.13 TONNES THIS GOLD IS HEADING TO SHANGHAI
July 18/STRANGE AGAIN/WITH GOLD UP $7.50 WE HAD ANOTHER HUGE 5.62 TONNES WITHDRAWAL FROM THE GLD/INVENTORY RESTS AT 821.45 TONNES
July 17/strange again! with gold up $4.20 we had another huge withdrawal of 1.77 tonnes/inventory rests at 827.07 tonnes
July 14/strange@!!with gold up $12.00 today, we had a huge withdrawal of 3.55 tonnes/inventory rests at 828.84 tonnes
July 13/no change in gold inventory at the GLD/inventory rests at 832.39 tonnes
JULY 12/no change in gold inventory at the GLD/inventory rests at 832.39 tonnes
July 11/strange!@! we had a big withdrawal of 2.96 tonnes despite gold’s advance today/inventory rests tonight at 832.39 tonnes
July 10/no changes in gold inventory at the GLD/inventory rests at 835.35 tonnes
July 7/a massive withdrawal of 5.32 tonnes of paper gold were removed and this was used in the attack today/inventory rests at 835.35 tonnes
July 6/no changes in tonnage at the GLD/Inventory rests at 840.67 tonnes
July 5/A MASSIVE 5.62 TONNES OF GOLD LEFT THE GLD AND NO DOUBT WAS USED IN THE RAID THIS MORNING/INVENTORY REST
July 3/ A MASSIVE 7.37 TONNES OF GOLD LEAVE THE GLD/INVENTORY RESTS AT 846.29 TONNES
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August 4 /2017/ Inventory rests tonight at 787.14 tonnes
*IN LAST 204 TRADING DAYS: 162.84 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 145 TRADING DAYS: A NET 5.41 TONNES HAVE NOW BEEN WITHDRAWN FROM GLD INVENTORY.
*FROM FEB 1/2017: A NET 22.22 TONNES HAVE BEEN WITHDRAWN.
end
Now the SLV Inventory
AUGUST 4/A WITHDRAWAL OF 945,000 OZ/INVENTORY RESTS AT 339.606 MILLION OZ
August 3/A WITHDRAWAL OF 1,181,000 OZ FROM THE SLV/INVENTOR RESTS AT 340.551 MILLION OZ/
August 2/NO CHANGES IN SILVER INVENTORY AT THE SLV
INVENTORY RESTS AT 341.732 MILLION OZ/
August 1/A HUGE WITHDRAWAL OF 945,000 OZ/INVENTORY RESTS AT 341.732 MILLION OZ/
July 31/no change in silver inventory at the SLV/inventory rests at 342.677 million oz
July 28/ A HUGE WITHDRAWAL OF 1.15 MILLION OZ OF SILVER LEAVES THE SLV DESPITE SILVER BEING UP 11 CENTS TODAY/INVENTORY RESTS AT 342.677 MILLION OZ
July 27/NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 343.812 MILLION OZ WITH SILVER UP 13 CENTS TODAY.
July 26/NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 343.812 MILLION OZ
July 25/A MASSIVE 3.309 MILLION OZ OF INVENTORY WITHDRAWN FROM THE SLV DESPITE SILVER’S 10 CENT RISE TODAY.
July 24/no change in silver inventory despite its 4 cent drop/inventory remains at 347.121 million oz
July 21/STRANGE! WITH SILVER UP AGAIN TODAY (11 CENTS), NO CHANGE IN SILVER INVENTORY AT THE SLV/inventory 347.121 million oz/
July 20/STRANGE! WITH SILVER UP AGAIN TODAY, THE SLV INVENTORY LOWERS BY 945,000 OZ/INVENTORY RESTS AT 347.121 MILLION OZ/
July 19/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 348.066 MILLION OZ
July 18/a huge 946,000 oz withdrawal from the SLV despite silver’s 16 cent gain!
Inventory rests at 348.066 million oz
July 17/no change in silver inventory at the SLV/Inventory rests at 349.012 million oz
July 14/no change in silver inventory/inventory rests at 349.012 million oz/
July 13/no change in silver inventory/inventory at the SLV rests at 349.012 million oz/
JULY 12/another massive 1.986 million oz of silver added into the SLV/inventory rests at 349.012 million oz/the last 3 days saw 7.281 million oz added into the SV
July 11/ANOTHER MASSIVE INCREASE OF 2.364 MILLION OZ into the SLV inventory/inventory rests at 347.026 million oz
July 10/ A HUGE INCREASE OF 2.931 MILLION OZ OF SILVER DESPITE THE EARLY HIT ON SILVER THIS MORNING/INVENTORY RESTS AT 344.662 MILLION OZ.
July 7/Strange: no change in inventory (compare that with gold) Inventory rests at 341.731 million oz
July 6/ANOTHER MASSIVE DEPOSIT OF 2.126 MILLION OZ INTO THE SLV INVENTORY/INVENTORY RESTS AT 341.731 MILLION OZ.
July 5/STRANGE! NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 339.605 MILLION OZ
July 3/strange! with the huge whacking of silver we got an increase of 379,000 oz into inventory.
August 4.2017:
Inventory 339.606 million oz
end
6 Month MM GOFO
Indicative gold forward offer rate for a 6 month duration
+ 1.26%
12 Month MM GOFO
+ 1.46%
30 day trend
end
Here is a review of the 3 latest comex waterfall (whacks) on gold and silver not including the current one we are undergoing. I have taken the nadir of the gold price before it started to rise again and compared it to OI in both gold and silver with the OPEN INTEREST. The OI readings are the following day but we are always one day behind so this compares exactly to the nadir price.
First waterfall ended Oct 6 2016/ Nadir price of gold at that date Oct 6 2016 : $1254.70 / OI for gold Oct 7/2016: 511,340//OI for silver/Oct 7.2016: 194,811
Second waterfall ended Dec 15.2016:Nadir Price of gold Dec 15.2016: $1128.20 //OI for gold Dec 16/2016 401,798// OI for silver: Dec 16/16 161,570
Third waterfall ended May 10/2017: Nadir Price of gold May 10 2016: $1220.95 // OI for gold May 11: 425,252// OI for silver May 11/17: 199,826
and for comparison while we are undergoing another waterfall these past several weeks
Today’s price of gold $1258.80 OI for gold today: 457,779//Oi for silver 204,833
The first waterfall corresponds to a silver price of $17.30 on Oct 6
The second waterfall corresponds to a silver price of $15.90 on Dec 15
The third waterfall corresponds to a silver price of $17.37 on May 10
and today: silver price of $16.30
Since the bottom of the second waterfall the price of gold at its nadir is about the same ($1220 and $1226), but the OI for gold is much higher along with silver OI also much higher. (425,252 and 457.779 OI for gold) accompanying 199,826 and 204,833 for silver)
It seems the data suggests power manipulation to control the price through paper!
END
At 3:30 pm we receive the COT report. This report is as of Tuesday August 1.
Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
239,766 110,094 39,997 126,891 270,276 406,654 420,367
Change from Prior Reporting Period
19,467 -19,374 -11,218 -22,035 18,007 -13,786 -12,585
Traders
151 109 73 51 56 238 206
Small Speculators
Long Short Open Interest
42,055 28,342 448,709
-1,332 -2,533 -15,118
non reportable positions
Change from the previous reporting period
COT Gold Report – Positions as of Tuesday, August 1, 201
Our large speculators:
Those large specs that have been long in gold piled back into the comex gold casino for a gain of a whopping 19,467 contacts
those large specs that have been short in gold covered a huge 19,374 contracts from their short side
specs go net long by 38,900 contracts
Our commercials
those commercials who were net long in gold pitched a monstrous 22,035 contracts from their long side
those commercials who have been short in gold added a monstrous 18,007 contracts to their short side
commercials go net short 40,000 contracts and this set up Friday’s raid. It was all pre ordained.
Our small specs:
those small specs that have been long gold covered 1332 contracts from their short side
those small specs that have been short in gold covered 2533 contracts
Conclusions: reason for the raid on gold yesterday.it will all pre ordained.
and now silver COT
Silver COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
92,259 61,500 31,018 60,593 100,260 183,870 192,778
1,394 -9,948 4,093 -3,182 6,953 2,305 1,098
Traders
98 57 48 37 38 155 126
Small Speculators
Long Short Open Interest
23,388 14,480 207,258
-1,394 -187 911
non reportable positions
Change from the previous reporting period
COT Silver Report – Positions as of Tuesday, August 1, 2017
Our large speculators:
those large specs that have been long in silver added a tiny 1394 contracts to their long side
those large specs that have been short in silver covered a huge 9948 contracts from their short side.
Our commercials
those commercials that have been long in silver pitched 3182 contracts from their long side
those commercials that have been short in silver added 6953 contracts.
commercials go net short by only 10,000 contracts..still have considerable trouble trying to cover their huge shortfall in silver.
Our small specs:
those small specs that have been long in silver pitched 1394 contracts from their long side
those small specs that have been short in silver covered 187 contracts from their short side.
Conclusions; reason for the whack in silver yesterday; the extremely high oI and the lack of shedding by the longs.
Major gold/silver trading/commentaries for FRIDAY
GOLDCORE/BLOG/MARK O’BYRNE.
GOLD/SILVER
Gold Consolidates On 2.5% Gain In July After Dollar Has 5th Monthly Decline
By Mark O’Byrne August 4, 2017 No Comments
– Gold consolidates on 2.5% gain in July as the dollar has fifth monthly decline
– Trump administration and vicious “civil war” politics casting shadow over America and impacting dollar
– All eyes on non farm payrolls today for further signs of weakness in U.S. economy
– Gold recovers from 1.7% decline in June as dollar falls
– Gold outperforms stocks and benchmark S&P 500 YTD
– Gold gains 10.8% versus 10.6% gain for S&P – led by frothy tech sector (see performance table)
– Gold outperforms stocks globally – Euro Stoxx 50 up 5.7% ytd, FTSE up 4.8% and Nikkei up 4.5%
– Gold’s technicals increasingly positive; now trading above its 50-day & 200-day moving averages & looks set to target $1,300 again
Gold held steady today in Asian and European trading and was flat for the week, consolidating near the $1,270 per ounce level and the 2.5% gain seen in July.
It remains close to a seven-week high hit this week, as the dollar remains weak and vulnerable near multi-month lows after five consecutive months of declines.
The dollar index, which tracks the greenback against a basket of six major peers, is languishing near 15-month lows hit earlier this week.
“All eyes” are again on the monthly U.S. nonfarm payrolls data due today amid continuing very high levels of U.S. and global political uncertainty.
Traders awaiting July’s employment repor for clues about the health of the U.S. economy after recent data highlighted risks to the downside. This is underlining how difficult it will be for the U.S. Federal Reserve to raise interest rates – even from these historically low levels in the current range between 1% and 1.25%.
The complete mess that is the Trump administration and U.S. politics was underlined again this week.
Robert Mueller, the U.S. Special Counsel, has convened a grand jury investigation in Washington to examine allegations of Russian interference in last year’s contentious election and has started issuing subpoenas, according to sources familiar with the situation said on yesterday.
The dollar looks very vulnerable to further falls. Trump and the Republicans have seen repeated failures. These include overhauling healthcare. Now there is multiple congressional and federal investigations into President Donald Trump’s campaign.
This is casting a shadow over his first six months in office and the vicious “civil war” politics that the U.S. finds itself in is casting a shadow over U.S. politics and America’s place in the world.
Gold is performing very well this year and yet sentiment remains poor with little media coverage of gold’s robust performance year to date.
Gold has outperformed stocks and the benchmark S&P 500 YTD with gains of 10.8% versus a 10.6% gain in the S&P 500. Much of the gains are due to surge in prices in the increasingly frothy tech sector.
Indeed, gold is outperforming stocks globally – the Euro Stoxx 50 is up 5.7% ytd, the FTSE up 4.8% and the Nikkei up 4.5%.
Silver gained 1% in July and is 5% higher so far this year.
Gold’s technicals look very good and it now trading above its 50-day and 200-day moving averages and looks set to target $1,300 again this month.
A daily or weekly close above $1,300 per ounce should see gold make quick gains and challenge the intermediate high of $1,361/oz seen 13 months ago. Next levels of resistance are $1,380 and $1,416.
A failure to breach $1,300 in the coming days and weeks could see gold fall back to test very strong support at $1,200 per ounce.
Updates This Week
Gold Coins and Bars See Demand Rise of 11% in H2, 2017
Greenspan Warns Stagflation Like 1970s “Not Good For Asset Prices”
What Investors Can Learn From the Japanese Art of Kintsukuroi
Bitcoin, ICO Risk Versus Immutable Gold and Silver
News and Commentary
Gold dips in Asia ahead of US nonfarm payrolls (Nasdaq.com)
Gold steady after nearing seven-week highs, US jobs data awaited (CNBC.com)
Gold Holders Stay Loyal to BlackRock iShares As Investors Flee More Expensive ETF (Bloomberg.com)
Britain faces an ‘explosive debt trajectory’ in the next 50 years if it ends austerity (BusinessInsider.com)
Pound plunges as Bank of England holds interest rates and cuts growth forecast on ‘Super Thursday’ (Telegraph.co.uk)
Gold at half the S&P. Multi-year low? Source: Frisby via Money Week
Miners and emerging markets look good as does gold – Frisby (MoneyWeek.com)
Surprise! Gold Prices Have Beaten the Market So Far this Century (Forbes.com)
Risk, Uncertainty And Markets – Dr Gurdgiev (SeekingAlpha.com)
There is $300 billion worth of gold locked in the vaults of London (QZ.com)
World’s Biggest Pension Fund Rides Stocks to $46 Billion Gain (Bloomberg.com)
Gold Prices (LBMA AM)
04 Aug: USD 1,269.30, GBP 964.92 & EUR 1,068.37 per ounce
03 Aug: USD 1,261.80, GBP 952.41 & EUR 1,064.96 per ounce
02 Aug: USD 1,266.65, GBP 956.83 & EUR 1,069.56 per ounce
01 Aug: USD 1,267.05, GBP 957.76 & EUR 1,072.30 per ounce
31 Jul: USD 1,266.35, GBP 965.59 & EUR 1,079.06 per ounce
28 Jul: USD 1,259.60, GBP 961.96 & EUR 1,075.45 per ounce
27 Jul: USD 1,262.05, GBP 960.29 & EUR 1,076.53 per ounce
Silver Prices (LBMA)
04 Aug: USD 16.70, GBP 12.71 & EUR 14.07 per ounce
03 Aug: USD 16.47, GBP 12.50 & EUR 13.91 per ounce
02 Aug: USD 16.67, GBP 12.60 & EUR 14.09 per ounce
01 Aug: USD 16.74, GBP 12.67 & EUR 14.17 per ounce
31 Jul: USD 16.76, GBP 12.77 & EUR 14.29 per ounce
28 Jul: USD 16.56, GBP 12.66 & EUR 14.15 per ounce
27 Jul: USD 16.79, GBP 12.77 & EUR 14.34 per ounce
Recent Market Updates
– Gold Coins and Bars See Demand Rise of 11% in H2, 2017
– Greenspan Warns Stagflation Like 1970s “Not Good For Asset Prices”
– What Investors Can Learn From the Japanese Art of Kintsukuroi
– Bitcoin, ICO Risk Versus Immutable Gold and Silver
– This Is Why Shrinkflation Is Making You Poor
– Gold A Good Store Of Value – Protect From $217 Trillion Global Debt Bubble
– Why Surging UK Household Debt Will Cause The Next Crisis
– Gold Seasonal Sweet Spot – August and September – Coming
– Commercial Property Market In Dublin Is Inflated and May Burst Again
– Gold Hedges Against Currency Devaluation and Cost Of Fuel, Food, Beer and Housing
– Millennials Can Punt On Bitcoin, Own Gold and Silver For Long Term
– “Time To Position In Gold Is Right Now” says Jim Rickards
– Bloomberg Silver Price Survey – Median 12 Month Forecast Of $20
END
http://www.silverdoctors.com/tag/harvey-organ/
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Thank You Harvey Always Good Stuff
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“Inflate or Die,” Peak Silver and Gold’s Coming Breakout
“Inflate or die” was Richard Russell’s characterization of our economic system and the central bank response to most problems during the past three decades.
INFLATE THE CURRENCY SUPPLY! Examine the currency supply as measured by M3 and reported by the St. Louis Fed.
https://goldstockbull.com/articles/inflate-or-die-peak-silver-and-golds-coming-breakout/
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Wishing You A Great Sunday <3
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MMgys
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