Saturday, August 19, 2017 5:33:42 PM
"Here Comes The Rain Again"
MMgys
August 18/2017*/Steve Bannon ousted/Breitbart promises “thermonuclear
war”/gold down 35 cents/silver down 4 cents on 7th consecutive raid/Deborah Wasserman Schultz’s aide charged.
August 18, 2017 · by Harvey Organ · in Uncategorized
GOLD: $1286.15 DOWN $0.35
Silver: $17.02 DOWN 4 cent(s)
Closing access prices:
Gold $1284.50
silver: $16.99
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: $1291.88 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1287.95
PREMIUM FIRST FIX: $3.93
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SECOND SHANGHAI GOLD FIX: $1298.42
NY GOLD PRICE AT THE EXACT SAME TIME: $1287.40
Premium of Shanghai 2nd fix/NY:$9.02
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LONDON FIRST GOLD FIX: 5:30 am est $1295.25
NY PRICING AT THE EXACT SAME TIME: $1295.85
LONDON SECOND GOLD FIX 10 AM: $1295.50
NY PRICING AT THE EXACT SAME TIME. $1297.65 ????
For comex gold:
AUGUST/
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 0 NOTICE(S) FOR nil OZ.
TOTAL NOTICES SO FAR: 4581 FOR 458,100 OZ (14.248 TONNES)
For silver:
AUGUST
51 NOTICES FILED TODAY FOR
255,000 OZ/
Total number of notices filed so far this month: 1051 for 5,255,000 oz
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end
Today for the 7th consecutive day we had a raid on both gold and silver.
Late at night after I received the preliminary data which gives me a good idea of where we are heading for the next day…..
I wrote this to my friends:
“my goodness!!……
I will be shocked if we do not have another raid for the 7th consecutive trading day.
the Oi for gold is just too high..
let us see.”
with gold ready to puncture $1300.00 and silver $17.25, you could sense that the bankers had to cool both of our precious metals. The fact that silver lagged behind gold was a good sign that a raid was called upon as well as the weak close of the gold/equity stocks.
The most important aspect of today’s data is in silver. In the COT report, the bankers did not increase their massive shortfall position in silver because they are aware of the acute shortage of metal in London. The COT report shows a huge increase in commercial short position in gold but not silver.
The bankers needed a good positive close at the Dow and Nasdaq with the Bannon firing. After the Dow initially rose past 50 points, it closed down 75 points on the day….expect huge weakness again once the new week begins.
Let us have a look at the data for today
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In silver, the total open interest ROSE BY 1,565 contracts from 188,247 up to 189,812 with THE RISE IN THE PRICE THAT SILVER UNDERTOOK WITH YESTERDAY’S TRADING (UP 11 CENTS) . THE BANKERS AGAIN PROVIDED THE SHORT PAPER TO INITIATE ANOTHER RAID YESTERDAY (6TH CONSECUTIVE DAY OF TORMENT). THAT FAILED IMMEDIATELY AS SILVER STARTED TO ADVANCE IN PRICE. NEWBIE SPEC LONGS REALIZING ANOTHER FAILED RAID, JUMPED ONTO THE BANDWAGON WITH PURCHASES. HOWEVER THE COMMERCIALS WERE STILL LOATHE TO SUPPLY THE SHORT CONTRACTS. THUS A HUGE ADVANCE IN PRICE WITH A SMALLER THAN GOLD GAIN IN OI.
In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.949 BILLION TO BE EXACT or 136% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 51 NOTICE(S) FOR 255,000 OZ OF SILVER
In gold, the open interest ROSE by A MONSTROUS 10,722 WITH THE GOOD SIZED RISE in price of gold ($13.45 GAIN YESTERDAY.). The new OI for the gold complex rests at 493,127. A raid was called upon yesterday by the bankers and it failed. The bankers initiated the raid with short paper but newbie longs entered the arena with reckless abandon with the lower price of gold . Thus the bankers were not successful in covering their shorts but they did supply the necessary short paper to our newbie spec longs. The result: increase in open interest with a higher price for gold.
we had: 0 notice(s) filed upon for nil oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD:
Today, no changes in gold inventory:
Inventory rests tonight: 795.44 tonnes
IN THE LAST 25 TRADING DAYS: GLD SHEDS 41.53 TONNES YET GOLD IS HIGHER BY $53.15 .
SLV
Today: WE HAD NO CHANGES IN SILVER INVENTORY TONIGHT:
INVENTORY RESTS AT 334.407 MILLION OZ
end
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver RISE BY 1565 contracts from 188,247 up to 189,812 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH THE RISE IN SILVER PRICE (11 CENTS). THE INITIAL RAID THURSDAY MORNING WAS REBUFFED IMMEDIATELY BY A HUGE INFLUX OF NEWBIE LONGS ENTERING THE SILVER COMEX CASINO. BUT THIS TIME IT WAS GOLD THAT WAS IN THE LEAD AND SILVER LAGGED BEHIND. THE BANKERS STILL HAD A HARD TIME COVERING DUE TO THAT RISE IN PRICE. YOU CAN CLEARLY VISUALIZE BANKER CAPITULATION AS THEY TRY DESPERATELY TO EXIT SOME OF THEIR ENORMOUS SHORTS.. NEWBIE LONGS ENTERED ONCE THEY SAW THE FAILED RAID, WITH THE SUPPLY COMING FROM OLD SPECS EXITING FOR A PROFIT. RESULT: HIGHER PRICE WITH A SMALLER OI GAIN.
(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 UP 0.29 POINTS OR 0.01% / /Hang Sang CLOSED DOWN 296.65 POINTS OR 1.08% The Nikkei closed DOWN 232.22 POINTS OR 1.18%/Australia’s all ordinaires CLOSED DOWN 0.49%/Chinese yuan (ONSHORE) closed UP at 6.6722/Oil UP to 47.18 dollars per barrel for WTI and 51.02 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN , Offshore yuan trades 6.6807 yuan to the dollar vs 6.6722 for onshore yuan. NOW THE OFFSHORE IS WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN STRONGER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS STRONG TO THE DOLLAR AND THIS IS COUPLED WITH THE WEAKER DOLLAR. CHINA IS HAPPY TODAY
3a)THAILAND/SOUTH KOREA/NORTH KOREA
i)NORTH KOREA//USA
South Korea and the USA are scheduled to have a massive war games on the peninsula. Kim is already angry and predicts a “catastrophe”. Not only is North Korea angry but so is China who is suppose to rein in this unpredictable buffoon.
( zero hedge)
b) REPORT ON JAPAN
c) REPORT ON CHINA
4. EUROPEAN AFFAIRS
SPAIN
i)There were two or three separate terror events in Spain yesterday.
The following highlights the second plot in the town of Cambrils where the police killed 5 terrorists
( zerohedge)
The Barcelona terrorists were planning a much bigger devastating attack but the building in which the plot was hatched blew up taking with them most of the explosives.
( zero hedge)
iii)GERMANY/FINLANDTwo knife attacks today: one in Germany and the other in Finland( zero hedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
6 .GLOBAL ISSUES
7. OIL ISSUES
Oil rises of a bigger than expected rig count drop
( zerohedge)
8. EMERGING MARKET
9. PHYSICAL MARKETS
i)Mike Kosares on why we need gold and silver ownership
( Mike Kosares/GATA)
ii)Anglogold Ashanti is not too happy with its South African gold assets. It now has revived plans to spin these off
( Reuters/GATA)
10. USA Stories
i)Do not read too much into this: soft data University of Michigan consumer sentiment beats expectations but most of the interviews were done prior to Charlottesville
( zero hedge)
ii)It seems that anybody with a pulse received financing for car. Even bonuses were handed out for loaning money to poor credit risks. It now looks like deep subprime auto delinquencies are spiking to 1o yr highs. Trouble ahead in this arena
( zero hedge)
iii)Well that did not take long. Wasserman Schultz’s IT aide, Awan has been indicted on 4 counts of bank fraud by lying to banks trying to obtain loan money. Now the fun begins as they dig deeper into the DNC. The big question: why did Debby Wasserman Schultz keep Awan on her payroll right up until he was arrested
(courtesy zero hedge)
iv)Matt Drudge reports that Steve Bannon is out at the White House
that will remove another key antagonist to the Goldman Sachs people surrounding the president.
( Matt Drudge/zero hedge)
v)As I mentioned above, Steve Bannon will be going after the globalists in Trump’s team which will further sever the chances for anything being done. Many voters who put Trump in power with the slogan America first will be thoroughly disappointed
a must read.
( zerohedge)
vi)Bannon set to go to war for Trump by trying to “drain the swamp”. He needs to marginalize the neocons and the Goldman Sachs lobby to win:
( zerohedge)
vii)It looks like a pardon for Julian Assange is coming forth so he can provide the correct person(s) who provided information to Wikileaks in the hacking of the DNC.
( zero hedge)
viii)This is something that we have been pointing out to you for the past few weeks: Goldman Sachs sees a 50% chance of a government shutdown. So do we!
(courtesy zerohedge)
Let us head over to the comex:
The total gold comex open interest ROSE BY A HUGE 10,722 CONTRACTS UP to an OI level of 493,127 WITH THE RISE IN THE PRICE OF GOLD ($13.45 with THURSDAY’S trading). NEWBIE LONGS ENTERED THE ARENA ESPECIALLY TACKLING THE LOWER PRICE AS ANOTHER RAID WAS CALLED UPON BY OUR CROOKED BANKERS. THE BANKERS CONTINUE TO SUPPLY THE SHORT PAPER. THE HIGH OPEN INTEREST IN THE GOLD COMPLEX WAS FODDER AGAIN FOR OUR CROOKS AS THEY TRIED AGAIN TO SHAKE MANY OF THE GOLD LEAVES FROM THE GOLD TREE: IT FAILED MISERABLY!!!.
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 GAINED 9 contract(s) to stand at 908 contracts. We had 2 notices filed on YESTERDAY so we GAINED 11 contracts or an additional 1100 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 LOSE 20 contracts DOWN to 1363.
The next active contract month is Oct and here we saw a GAIN of 1076 contracts UP to 50,629.
The very big active December contract month saw it’s OI GAIN 9520 contracts UP to 385,921.
We had 0 notice(s) filed upon today for NIL 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 ROSE BY 1565 CONTRACTS FROM 188,247 UP TO 189,812 WITH YESTERDAY’S GOOD SIZED 11 CENT GAIN. THERE IS NO QUESTION THAT WE ARE HAVING CONTINUAL BANKER CAPITULATION AS THEIR HUGE SHORTS IN SILVER ARE CHOKING THEM TO DEATH. THE BANKERS INITIATED ANOTHER RAID SUPPLYING GOOD SIZED PAPER SHORTS WHICH INITIALLY DROVE THE PRICE OF SILVER DOWN. HOWEVER IN TOTAL CONTRAST TO YESTERDAY, IT WAS SILVER THAT WAS LAGGING WITH RESPECT TO THE RISE IN GOLD. THE BANKERS STILL COULD NOT COVER ANY OF THEIR SHORTS WHICH WAS AGAIN THE OBJECT OF THE EXERCISE. THE NET RESULT: A SMALLER RISE IN OPEN INTEREST WHEN COMPARED TO GOLD AND A GOOD SIZED RISE IN PRICE.
We are now in the next big non active silver contract month of August and here the OI FELL 34 contracts DOWN TO 60. We had 85 notice(s) filed yesterday. Thus we GAINED ANOTHER 51 contract(s) or an additional 255,000 oz will stand for delivery in this non active month of August and AGAIN zero EFP’s were issued for the August contract month. Please note that in gold we continually see EFP’s issued but not in silver!!
The next active contract month is September (and the last active month until December) saw it’s OI fall by 1476 contacts down to 94,017. The next non active contract month for silver after September is October and here the OI gained 176 contacts up TO 405. After October, the big active contract month is December and here the OI GAINED by 2629 contracts UP to 83,530 contracts.
We had 51 notice(s) filed for 255,000 oz for the AUGUST 2017 contract
VOLUMES: for the gold comex
YESTERDAY’S confirmed volume was 340,107 which is excellent
volumes on gold are STILL HIGHER THAN NORMAL!
Initial standings for AUGUST
August 18/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
1,318.151 oz
Scotia
Brinks
Deposits to the Dealer Inventory in oz oz
Deposits to the Customer Inventory, in oz
83,289.359 oz
Brinks
No of oz served (contracts) today
0 notice(s)
nil OZ
No of oz to be served (notices)
908 contracts
(90,800 oz)
Total monthly oz gold served (contracts) so far this month
4581 notices
458,100 oz
14.248 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 28,096.8 oz
Today we HAD 2 kilobar transaction(s)/
total dealer deposits: nil oz
We had nil dealer withdrawals:
total dealer withdrawals: 0 oz
we had 1 customer deposit(s):
i) into Brinks: 83,289.359 oz
total customer deposits; 83,289.359 oz
We had 2 customer withdrawal(s)
i) Out of Scotia: 1286.000 oz (40 kilobars)
ii) Out of brinks: 32.151 oz (1 kilobar)
total customer withdrawals; 1318.151 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 0 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 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 (4581) x 100 oz or 458,100 oz, to which we add the difference between the open interest for the front month of AUGUST (908 contracts) minus the number of notices served upon today (0) x 100 oz per contract equals 548,900 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 (4581) x 100 oz or ounces + {(908)OI for the front month minus the number of notices served upon today (0) x 100 oz which equals 548,800 oz standing in this active delivery month of AUGUST (17.073 tonnes)
we GAINED 11 contracts or an additional 1100 oz will stand for delivery and 0 EFP’s for August were issued.(FOR FIAT BONUS PLUS ANOTHER DELIVERABLE CONTRACT WHICH MOST LIKELY IS A LONDON BASED FORWARD)
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Total dealer inventory 758,311.027 or 23.58 tonnes (dealer gold continues to disappear)
Total gold inventory (dealer and customer) = 8,707,110.590 or 270.82 tonnes
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 270.82 tonnes for a loss of 31 tonnes over that period. Since August 8/2016 we have lost 82 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 12 MONTHS 82 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE AUGUST DELIVERY MONTH
August initial standings
August 18 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
31,236.910 oz
CNT
Brinks
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
nil
oz
No of oz served today (contracts)
51 CONTRACT(S)
(255,000 OZ)
No of oz to be served (notices)
9 contracts
( 45,000 oz)
Total monthly oz silver served (contracts) 1051 contracts (5,255,000 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 2,617,221.8 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 2 customer withdrawal(s):
i) out of brinks: 1012.84 oz
ii) out of CNT: 30,224.110 oz
TOTAL CUSTOMER WITHDRAWALS: 31,236.910 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 2 adjustment(s)
i) Out of Delaware: 4998.646 oz was adjusted out of the dealer and this landed into the customer account of Delaware
The total number of notices filed today for the AUGUST. contract month is represented by 51 contract(s) for 255,000 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 1051 x 5,000 oz = 5,225,000 oz to which we add the difference between the open interest for the front month of AUGUST (60) and the number of notices served upon today (51) x 5000 oz equals the number of ounces standing
.
Thus the INITIAL standings for silver for the AUGUST contract month: 1051 (notices served so far)x 5000 oz + OI for front month of AUGUST(60 ) -number of notices served upon today (51)x 5000 oz equals 5,300,000 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 ANOTHER 51 contracts or an additional 255,000 oz wishes to stand for delivery in this non active month of August and 0 EFP’s were issued for the silver August month.
At this point in the delivery cycle last year on August 16/2016 we had 100,246 contracts standing vs this yr at 94,017.
Last yr on the first day notice for the Sept silver contract we had 17.070 million oz stand for delivery.
By month end: 16.075 million oz/
Volumes: for silver comex
YESTERDAY’s confirmed volume was 110,319 contracts which is OUT OF THIS WORLD
FRIDAY’S CONFIRMED VOLUME OF 110,319 CONTRACTS WHICH EQUATES TO 551 MILLION OZ OF SILVER OR 79% 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: 38.323 million (close to record low inventory
Total number of dealer and customer silver: 215.627 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 7.4% to NAV for Cdn funds!!!!
Percentage of fund in gold 62.6%
Percentage of fund in silver:37.4%
cash .+0.0%( August 18/2017)
2. Sprott silver fund (PSLV): STOCK NAV RISES TO +0.49% (August 18/2017)
3. Sprott gold fund (PHYS): premium to NAV RISES TO -0.32% to NAV (August 17/2017 )
Note: Sprott silver trust back into POSITIVE territory at +0.49/Sprott physical gold trust is back into NEGATIVE/ territory at -0.32%/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
And now the Gold inventory at the GLD
August 18/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 795.44 TONNES
August 17/late last night, a deposit of 4.43 tonnes of gold at the GLD/inventory rests at 795.44 tonnes/the bleeding of gold has stopped.
August 16/no change in gold inventory at the GLD. Inventory rests at 791.01 tonnes
August 15/no change in gold inventory at the GLD/inventory rests at 791.01 tonnes
August 14/this is good!!: a gain of 4.14 tonnes of gold into the GLD inventory/the removal of GLD gone to the east has now stopped probably because there is no physical to send/inventory rests at 791.01 tonnes
August 11/no change in gold inventory/Inventory rests at 786.87 tonnes
August 7/no changes in gold inventory at the GLD/Inventory rests at 787.14 tonnes
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
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August 18 /2017/ Inventory rests tonight at 795.44 tonnes
*IN LAST 215 TRADING DAYS: 154.44 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 155 TRADING DAYS: A NET 2.99 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
*FROM FEB 1/2017: A NET 13.82 TONNES HAVE BEEN WITHDRAWN.
end
Now the SLV Inventory
August 18/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY REST AT 334.407 MILLION OZ
August 17/A WITHDRAWAL OF 1.418 MILLION OZ LEAVES THE VAULTS OF THE SLV (WITH SILVER UP 25 CENTS YESTERDAY?)/INVENTORY RESTS AT 334.407 MILLION OZ
August 16/no change in silver inventory at the SLV/Inventory rests at 335.825 million oz/
August 15/no change in silver inventory at the SLV/Inventory rests at 335.825 million oz.
August 14./no change in silver inventory/inventory rests at 335.825 million/
August 11/no change in silver inventory tonight. However we lost 3,781 million oz from Tuesday through Thursday. Inventory rests at 335.825 million oz/
August 7/no change in silver inventory at the SLV/Inventory rests at 339.606 million oz
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
August 18.2017:
Inventory 334.407 million oz
end
6 Month MM GOFO
Indicative gold forward offer rate for a 6 month duration
+ 1.34%
12 Month MM GOFO
+ 1.49%
30 day trend
end
at 3:30 pm est we receive the COT report. No doubt we will see in gold the commercials increasing their mass positions.
Let us see.
COT Gold, Silver and US Dollar Index Report – August 18, 2017
— Published: Friday, 18 August 2017 | Print | Comment – New!
Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
277,730 89,996 37,693 122,138 318,769 437,561 446,458
Change from Prior Reporting Period
31,353 -7,544 1,285 -3,030 34,090 29,608 27,831
Traders
160 109 68 53 56 242 209
Small Speculators
Long Short Open Interest
40,360 31,463 477,921
-414 1,363 29,194
non reportable positions Change from the previous reporting period
COT Gold Report – Positions as of Tuesday, August 15, 2017
Our large speculators
wow!!
those large specs that have been long in gold added a whopping 31,353 contracts to their long side
those large specs that have been short in gold covered 7544 contracts from their short side.
specs go net long by 39,000 contracts.
Our commercials
those commercials that have been long in gold pitched 3030 contracts from their long side
those commercials that have been short in gold added 34,090 contracts to their short side.
commercials go net short by 37,000 contracts
Our small specs
those large specs that have been long in gold pitched 414 contracts from their long side
those large specs that have been short in gold added 1363 contracts to their short side.
Conclusions:
commercials go hugely net short by supplying the short paper to which the longs gleefully accepted.
exactly as how I described it to you these past two weeks.
this is why we are experiencing mega raids every day
and now for our Silver COT
Silver COT Report: Futures
Large Speculators Commercial
Long Short Spreading Long Short
91,596 52,745 16,096 55,918 104,006
251 -4,736 -5,504 -3,355 5,172
Traders
87 60 50 39 39
Small Speculators Open Interest Total
Long Short 187,955 Long Short
24,345 15,108 163,610 172,847
1,400 -2,140 -7,208 -8,608 -5,068
non reportable positions Positions as of: 150 131
Tuesday, August 15, 2017 © SilverSee
Please note the difference between gold and silver.
the bankers are having a tough time supplying the short paper.
Our large speculators
those large specs that have been long in silver added only 251 contracts to their long side
those large specs that have been short in silver covered 4736 contracts from their short side
large specs go net long by 5000 contracts.
Our commercials
those commercials that have been long in silver pitched 3355 contracts from their long side
those commercials that have been short in silver were only able to add 5172 contracts to their short side (to initiate raids)
commercials go net short by only 8400 contracts.
Our small specs
those small specs that have been long in silver added 1588 contracts to their long side
those small specs that have been short in silver covered 1834 contracts from their short side.
Conclusions:
As I have described to you throughout the past 10 days, our commercials are having extreme trouble trying to cover their shorts.
end
Major gold/silver trading/commentaries for FRIDAY
GOLDCORE/BLOG/MARK O’BYRNE.
GOLD/SILVER
Gold, Silver Consolidate On Last Weeks Gains, Palladium Surges 36% YTD To 16 Year High
By janskoylesAugust 18, 20170 Comments
– Gold and silver rise as stocks fall sharply after Barcelona attack
– Gold, silver 0.6% higher in week after last weeks 2%, 5% rise
– Palladium +36% ytd, breaks out & reaches 16 year high (chart)
– Gold to silver ratio falls to mid 75s after silver gains last week
– Perfect storm of financial and geopolitical tensions is driving safe haven demand and should see higher prices
– Weekly close over $1,300 could see gold quickly test $1,400
– Palladium at 16 year highs today; gold, silver in coming months?
2017 YTD Relative Performance (Finviz)
Editor Mark O’Byrne
This morning readers woke to the news that a second attack in 24 hours had taken place in Barcelona. So-called Islamic State claimed responsibility for the attacks in Spain.
Global stocks have fallen and precious metals have eked out gains this morning as investors seek out safe haven assets. Gold has risen to trade at its highest level since the beginning of June.
Gold’s reaction to the Barcelona events is likely to last and may continue today. The combination of heightened risk in the global geopolitical sphere is likely to support both gold and silver, pushing them through recent resistance. A weekly close above $1,300 per ounce will be very positive for gold and should see a rapid move to test the $1,400 level.
Gold and silver outperforming stocks
After losses earlier in the week, gold and silver have come right back and are now up 0.55% and 0.64% respectively. This is very positive as profit taking was to be expected after last weeks strong gains.
Gold and silver have consistently remained in the top-performing assets throughout the year and are beginning to outperform stocks.
In the year to date, gold is up nearly 13% whilst silver has climbed over 7.5%. The benchmark S&P500 is up 8.6% after weakness last week and this.
Both precious metals have performed well thanks to safe haven demand, much of which has been driven by very strong demand in India, China and Asia and ETF-demand in Europe.
Palladium at 16 year highs today; gold and silver in coming months
Palladium is up over 36% in the year-to-date and is the best performing commodity and market this year.
Palladium in USD – 30 Years (Macrotrends.net)
Consumption of the rare industrial precious metal is expected to hit 10.8 million ounces this year, an all-time high. Demand from the automotive industry, the biggest buyer of the metal, is up 4% this year.
Due to the high demand and limited availability of palladium there is market deficit of over 1 million ounces. The apparent five-year-long market deficit has begun to impact the availability of above-ground stocks.
This has prompted leasing rates to dramatically increase, taking the palladium market into backwardation of around 5-10%/year.
Much of palladium’s increased demand is thanks to increased demand for SUV vehicles which have to abide by tightening emission legislation from the EU. The latest announcement in the UK regarding a ban on diesel engines will also help to boost demand as consumers shift from diesel to petrol engines.
This suggests that there is little let-up for the tight supply conditions the palladium market is currently experiencing.
Safe haven demand to last
Safe haven demand is coming back and is again one of the firm drivers of precious metal prices. We have seen strong demand in August in what is frequently a quieter month as investors switch off and go on holidays.
We are operating in a very nervous financial and geopolitical environment globally. Geopolitical events can lead to price gains and safe haven demand. But the real risk is that a massive terrorist event or a cluster of many such events could impact consumer confidence, markets and the wider global economy.
And geopolitical risk is also seen in the complete mess that is U.S. politics and the Trump Presidency.
For instance, the latest drama from the Trump camp regarding the collapse of his business councils, is not in itself a reason to rush to precious metals. However, it is another sign of the cracks emerging in Trump’s administration and their complete inability to deliver on campaign promises.
The same can be said for the President’s reaction to the Charlottesville tragedy at the weekend. Both events (added to all issues since January) suggest that the current White House administration are perhaps losing sight of what it means to run the world’s declining super power.
Leading from struggles in the White House, the combative approaches of President Trump and North Korea ruler Kim Jong Un throughout the year has also helped to provide safe haven support for gold and silver.
These aren’t the only issues that are creating nervousness and uncertainty in the marketplace:
– Vladimir Putin’s geo-political ambitions combined with Russia’s growing closeness with China.
– The deteriorating relationship between Iran and the US, Israel, Saudi Arabia and significant players in the Middle East
– The near impossible problems in the Middle East—including but not limited to ISIS and al Qaeda, Syria, the worsening situation between Israel and Palestine
– Increasing divisions between Turkey and Europe – Turkey having previously been seen as an ally for the West, in the Middle East
– Signs of growing differences between many Western allies, significantly President Trump and European leaders in regard to how to deal with the above.
Will gold break $1,300?
In recent months gold has attempted to break through the $1,300 barrier a few times. This level is being touted as a psychological barrier which, when broken, could see gold perform in a way not seen since its 2011 run when the inflows of speculative money drove prices up $500 in just nine months.
However, it might not be political events that push it past this barrier. Interestingly if one looks at gold’s behaviour in the last seven or eight years, it has not reacted to political tensions (see graph below).
Source: ANZ
Instead, it has been mainly affected by monetary policy, QE, the hunt for yield and shifting inflationary / deflationary concerns. An interesting point to consider as it is, arguably, counterintuitive.
Therefore, we may see gold break through the $1,300 barrier on account of the US Federal Reserve whose last minutes surprised the markets. Whilst they gave no indication as to how the FOMC might move ahead, they did show a lack of consensus between members.
Janet Yellen previously indicated there might be three (or even four) possible interest rate rises for 2017. So far, we have had two of these which have increased U.S. interest rates by 50 basis points. These latest Fed minutes are perhaps suggesting that the FOMC is unlikely to implement even a third rate rise this year.
This should not be surprising given the lack of recovery in the US economy, inflation not meeting the required 2% and employment levels failing to reach targets.
However, we should not dismiss political tensions and their push for safe haven demand. Central banks may talk and talk but the bottom line is that ultra loose monetary policies are set to continue and remain very supportive.
For many decades we have not seen a geopolitical situation so tense, where it feels so many countries are looking over their shoulders at what could come next both in terms of political and financial threats.
The push over $1,300 could be due to a perfect storm of financial, economic and geopolitical risks, each pushing investors to look for a safe haven and time-proven financial insurance.
Conclusion
Palladium is the best performing precious metal this year. This is not thanks to events which happen today and (sadly) become tomorrow’s news.
Palladium’s stellar performance is thanks to a series of decisions and events which have caused a major supply deficit whilst demand continues to climb.
The same can be said of gold and silver. Investors must not look to one-off events such as a terrorist attacks or an angry Tweet from Trump.
It is when these events are no longer isolated incidents and instead form a much bigger picture about the uncertain state of the world.
This picture is taking shape and is slowly impacting the way people look at their finances. Soon, the picture will be much clearer and will drive safe haven investment demand.
In the meantime, those with clearer foresight would do well to see the climbing numbers in the performance chart and realise now is a good time to take advantage of low prices and insultate and rebalance your portfolio with some safe haven protection in the form of allocated, segregated gold and silver bullion.
Given these many risks, there is no good reason, that gold and silver will not follow palladium’s lead and surge to multi year highs in the coming months.
News and Commentary
Gold Futures Punch Through $1,300 as Global Stocks Extend Losses (Bloomberg.com)
Gold lifted by haven demand; palladium logs 16-year high (MarketWatch.com)
Gold steady, buoyed by geopolitical worries (Reuters.com)
Nikkei slumps to 3-month low as Asian markets dip (MarketWatch.com)
India Bans Gold Exports Above 22 Carats to Plug Trade Loopholes (Bloomberg.com)
Futures Now: Gold shines (CNBC.com)
Markets Roiled on Trump Stance Tensions: Markets Wrap (Bloomberg.com)
High-Profile Sectors Start To Roll Over (DollarCollapse.com)
What can you do about this recurring crisis? (StansBerryChurcHouse.com)
New Currency in Race to Remake One of World’s Oldest Markets (Bloomberg.com)
Gold Prices (LBMA AM)
18 Aug: USD 1,295.25, GBP 1,004.34 & EUR 1,102.65 per ounce
17 Aug: USD 1,285.90, GBP 998.12 & EUR 1,096.74 per ounce
16 Aug: USD 1,270.15, GBP 985.13 & EUR 1,082.29 per ounce
15 Aug: USD 1,274.60, GBP 986.92 & EUR 1,084.05 per ounce
14 Aug: USD 1,281.10, GBP 987.34 & EUR 1,085.48 per ounce
11 Aug: USD 1,288.30, GBP 993.67 & EUR 1,096.47 per ounce
10 Aug: USD 1,278.90, GBP 985.39 & EUR 1,091.67 per ounce
Silver Prices (LBMA)
18 Aug: USD 17.15, GBP 13.30 & EUR 14.60 per ounce
17 Aug: USD 17.02, GBP 13.23 & EUR 14.55 per ounce
16 Aug: USD 16.68, GBP 12.96 & EUR 14.25 per ounce
15 Aug: USD 16.89, GBP 13.12 & EUR 14.38 per ounce
14 Aug: USD 16.97, GBP 13.09 & EUR 14.39 per ounce
11 Aug: USD 17.09, GBP 13.18 & EUR 14.53 per ounce
10 Aug: USD 17.08, GBP 13.14 & EUR 14.57 per ounce
Recent Market Updates
– Must See Charts – Gold Hedges USD Devaluation, Rise in Oil, Food and Cost of Living Since Nixon Ended Gold Standard
– World’s Largest Hedge Fund Bridgewater Buys $68 Million of Gold ETF In Q2
– Diversify Into Gold Urges Dalio on Linkedin – “Militaristic Leaders Playing Chicken Risks Hellacious War”
– Gold Has Yet Another Purpose – Help Fight Cancer
– Gold Up 2%, Silver 5% In Week – Gundlach, Gartman and Dalio Positive On Gold
– Great Disaster Looms as Technology Disrupts White Collar Workers
– Gold Sees Safe Haven Gains On Trump “Fire and Fury” Threat
– Silver Mining Production Plummets 27% At Top Four Silver Miners
– Gold Consolidates On 2.5% Gain In July After Dollar Has 5th Monthly Decline
– 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
END
Thanks Harvey Always Good Stuff
http://www.silverdoctors.com/tag/harvey-organ/
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Ronan Manly: Wall Street Journal failed to ask the right questions
Submitted by cpowell on Fri, 2017-08-18 16:24. Section: Daily Dispatches
12:26p ET Friday, August 18, 2017
Dear Friend of GATA and Gold:
Bullion Star's gold researcher Ronan Manly today comments on the deficiencies of The Wall Street Journal's August 10 report acknowledging suspicions about the Federal Reserve Bank of New York's custody of gold reserves. Foremost among those deficiencies, Manly writes, was the newspaper's determined refusal to put any critical questions to Fed or Treasury Department officials. He specifies many such questions arising from his research. Manly's commentary is headlined "Bullion Star Quoted in Wall Street Journal Article on New York Fed Gold" and it's posted at Bullion Star here:
https://www.bullionstar.com/blogs/ronan-manly/bullionstar-quoted-wall-st...
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Jan Skoyles: Gold hedges dollar devaluation and price inflation
Submitted by cpowell on Fri, 2017-08-18 16:48. Section: Daily Dispatches
12:47p ET Friday, August 18, 2017
Dear Friend of GATA and Gold:
While recent gold investors may be disappointed, GoldCore's Jan Skoyles notes today that since the United States abandoned the gold standard in 1971 the monetary metal has protected its owners very well against the steady devaluation of the U.S. dollar and inflation in basic goods. Skoyles' analysis is headlined "Must-See Charts -- Gold Hedges US Dollar Devaluation, Rise in Oil, Food, and Cost of Living Since Nixon Ended Gold Standard" and it's posted at GoldCore here:
http://www.goldcore.com/us/gold-blog/must-see-charts-gold-hedges-usd-dev...
.jpg)
MMgys
Hope your having a Good weekend <3
August 18/2017*/Steve Bannon ousted/Breitbart promises “thermonuclear
war”/gold down 35 cents/silver down 4 cents on 7th consecutive raid/Deborah Wasserman Schultz’s aide charged.
August 18, 2017 · by Harvey Organ · in Uncategorized
GOLD: $1286.15 DOWN $0.35
Silver: $17.02 DOWN 4 cent(s)
Closing access prices:
Gold $1284.50
silver: $16.99
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: $1291.88 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1287.95
PREMIUM FIRST FIX: $3.93
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
SECOND SHANGHAI GOLD FIX: $1298.42
NY GOLD PRICE AT THE EXACT SAME TIME: $1287.40
Premium of Shanghai 2nd fix/NY:$9.02
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
LONDON FIRST GOLD FIX: 5:30 am est $1295.25
NY PRICING AT THE EXACT SAME TIME: $1295.85
LONDON SECOND GOLD FIX 10 AM: $1295.50
NY PRICING AT THE EXACT SAME TIME. $1297.65 ????
For comex gold:
AUGUST/
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 0 NOTICE(S) FOR nil OZ.
TOTAL NOTICES SO FAR: 4581 FOR 458,100 OZ (14.248 TONNES)
For silver:
AUGUST
51 NOTICES FILED TODAY FOR
255,000 OZ/
Total number of notices filed so far this month: 1051 for 5,255,000 oz
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
end
Today for the 7th consecutive day we had a raid on both gold and silver.
Late at night after I received the preliminary data which gives me a good idea of where we are heading for the next day…..
I wrote this to my friends:
“my goodness!!……
I will be shocked if we do not have another raid for the 7th consecutive trading day.
the Oi for gold is just too high..
let us see.”
with gold ready to puncture $1300.00 and silver $17.25, you could sense that the bankers had to cool both of our precious metals. The fact that silver lagged behind gold was a good sign that a raid was called upon as well as the weak close of the gold/equity stocks.
The most important aspect of today’s data is in silver. In the COT report, the bankers did not increase their massive shortfall position in silver because they are aware of the acute shortage of metal in London. The COT report shows a huge increase in commercial short position in gold but not silver.
The bankers needed a good positive close at the Dow and Nasdaq with the Bannon firing. After the Dow initially rose past 50 points, it closed down 75 points on the day….expect huge weakness again once the new week begins.
Let us have a look at the data for today
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
In silver, the total open interest ROSE BY 1,565 contracts from 188,247 up to 189,812 with THE RISE IN THE PRICE THAT SILVER UNDERTOOK WITH YESTERDAY’S TRADING (UP 11 CENTS) . THE BANKERS AGAIN PROVIDED THE SHORT PAPER TO INITIATE ANOTHER RAID YESTERDAY (6TH CONSECUTIVE DAY OF TORMENT). THAT FAILED IMMEDIATELY AS SILVER STARTED TO ADVANCE IN PRICE. NEWBIE SPEC LONGS REALIZING ANOTHER FAILED RAID, JUMPED ONTO THE BANDWAGON WITH PURCHASES. HOWEVER THE COMMERCIALS WERE STILL LOATHE TO SUPPLY THE SHORT CONTRACTS. THUS A HUGE ADVANCE IN PRICE WITH A SMALLER THAN GOLD GAIN IN OI.
In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.949 BILLION TO BE EXACT or 136% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 51 NOTICE(S) FOR 255,000 OZ OF SILVER
In gold, the open interest ROSE by A MONSTROUS 10,722 WITH THE GOOD SIZED RISE in price of gold ($13.45 GAIN YESTERDAY.). The new OI for the gold complex rests at 493,127. A raid was called upon yesterday by the bankers and it failed. The bankers initiated the raid with short paper but newbie longs entered the arena with reckless abandon with the lower price of gold . Thus the bankers were not successful in covering their shorts but they did supply the necessary short paper to our newbie spec longs. The result: increase in open interest with a higher price for gold.
we had: 0 notice(s) filed upon for nil oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD:
Today, no changes in gold inventory:
Inventory rests tonight: 795.44 tonnes
IN THE LAST 25 TRADING DAYS: GLD SHEDS 41.53 TONNES YET GOLD IS HIGHER BY $53.15 .
SLV
Today: WE HAD NO CHANGES IN SILVER INVENTORY TONIGHT:
INVENTORY RESTS AT 334.407 MILLION OZ
end
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver RISE BY 1565 contracts from 188,247 up to 189,812 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH THE RISE IN SILVER PRICE (11 CENTS). THE INITIAL RAID THURSDAY MORNING WAS REBUFFED IMMEDIATELY BY A HUGE INFLUX OF NEWBIE LONGS ENTERING THE SILVER COMEX CASINO. BUT THIS TIME IT WAS GOLD THAT WAS IN THE LEAD AND SILVER LAGGED BEHIND. THE BANKERS STILL HAD A HARD TIME COVERING DUE TO THAT RISE IN PRICE. YOU CAN CLEARLY VISUALIZE BANKER CAPITULATION AS THEY TRY DESPERATELY TO EXIT SOME OF THEIR ENORMOUS SHORTS.. NEWBIE LONGS ENTERED ONCE THEY SAW THE FAILED RAID, WITH THE SUPPLY COMING FROM OLD SPECS EXITING FOR A PROFIT. RESULT: HIGHER PRICE WITH A SMALLER OI GAIN.
(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 UP 0.29 POINTS OR 0.01% / /Hang Sang CLOSED DOWN 296.65 POINTS OR 1.08% The Nikkei closed DOWN 232.22 POINTS OR 1.18%/Australia’s all ordinaires CLOSED DOWN 0.49%/Chinese yuan (ONSHORE) closed UP at 6.6722/Oil UP to 47.18 dollars per barrel for WTI and 51.02 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN , Offshore yuan trades 6.6807 yuan to the dollar vs 6.6722 for onshore yuan. NOW THE OFFSHORE IS WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN STRONGER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS STRONG TO THE DOLLAR AND THIS IS COUPLED WITH THE WEAKER DOLLAR. CHINA IS HAPPY TODAY
3a)THAILAND/SOUTH KOREA/NORTH KOREA
i)NORTH KOREA//USA
South Korea and the USA are scheduled to have a massive war games on the peninsula. Kim is already angry and predicts a “catastrophe”. Not only is North Korea angry but so is China who is suppose to rein in this unpredictable buffoon.
( zero hedge)
b) REPORT ON JAPAN
c) REPORT ON CHINA
4. EUROPEAN AFFAIRS
SPAIN
i)There were two or three separate terror events in Spain yesterday.
The following highlights the second plot in the town of Cambrils where the police killed 5 terrorists
( zerohedge)
The Barcelona terrorists were planning a much bigger devastating attack but the building in which the plot was hatched blew up taking with them most of the explosives.
( zero hedge)
iii)GERMANY/FINLANDTwo knife attacks today: one in Germany and the other in Finland( zero hedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
6 .GLOBAL ISSUES
7. OIL ISSUES
Oil rises of a bigger than expected rig count drop
( zerohedge)
8. EMERGING MARKET
9. PHYSICAL MARKETS
i)Mike Kosares on why we need gold and silver ownership
( Mike Kosares/GATA)
ii)Anglogold Ashanti is not too happy with its South African gold assets. It now has revived plans to spin these off
( Reuters/GATA)
10. USA Stories
i)Do not read too much into this: soft data University of Michigan consumer sentiment beats expectations but most of the interviews were done prior to Charlottesville
( zero hedge)
ii)It seems that anybody with a pulse received financing for car. Even bonuses were handed out for loaning money to poor credit risks. It now looks like deep subprime auto delinquencies are spiking to 1o yr highs. Trouble ahead in this arena
( zero hedge)
iii)Well that did not take long. Wasserman Schultz’s IT aide, Awan has been indicted on 4 counts of bank fraud by lying to banks trying to obtain loan money. Now the fun begins as they dig deeper into the DNC. The big question: why did Debby Wasserman Schultz keep Awan on her payroll right up until he was arrested
(courtesy zero hedge)
iv)Matt Drudge reports that Steve Bannon is out at the White House
that will remove another key antagonist to the Goldman Sachs people surrounding the president.
( Matt Drudge/zero hedge)
v)As I mentioned above, Steve Bannon will be going after the globalists in Trump’s team which will further sever the chances for anything being done. Many voters who put Trump in power with the slogan America first will be thoroughly disappointed
a must read.
( zerohedge)
vi)Bannon set to go to war for Trump by trying to “drain the swamp”. He needs to marginalize the neocons and the Goldman Sachs lobby to win:
( zerohedge)
vii)It looks like a pardon for Julian Assange is coming forth so he can provide the correct person(s) who provided information to Wikileaks in the hacking of the DNC.
( zero hedge)
viii)This is something that we have been pointing out to you for the past few weeks: Goldman Sachs sees a 50% chance of a government shutdown. So do we!
(courtesy zerohedge)
Let us head over to the comex:
The total gold comex open interest ROSE BY A HUGE 10,722 CONTRACTS UP to an OI level of 493,127 WITH THE RISE IN THE PRICE OF GOLD ($13.45 with THURSDAY’S trading). NEWBIE LONGS ENTERED THE ARENA ESPECIALLY TACKLING THE LOWER PRICE AS ANOTHER RAID WAS CALLED UPON BY OUR CROOKED BANKERS. THE BANKERS CONTINUE TO SUPPLY THE SHORT PAPER. THE HIGH OPEN INTEREST IN THE GOLD COMPLEX WAS FODDER AGAIN FOR OUR CROOKS AS THEY TRIED AGAIN TO SHAKE MANY OF THE GOLD LEAVES FROM THE GOLD TREE: IT FAILED MISERABLY!!!.
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 GAINED 9 contract(s) to stand at 908 contracts. We had 2 notices filed on YESTERDAY so we GAINED 11 contracts or an additional 1100 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 LOSE 20 contracts DOWN to 1363.
The next active contract month is Oct and here we saw a GAIN of 1076 contracts UP to 50,629.
The very big active December contract month saw it’s OI GAIN 9520 contracts UP to 385,921.
We had 0 notice(s) filed upon today for NIL 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 ROSE BY 1565 CONTRACTS FROM 188,247 UP TO 189,812 WITH YESTERDAY’S GOOD SIZED 11 CENT GAIN. THERE IS NO QUESTION THAT WE ARE HAVING CONTINUAL BANKER CAPITULATION AS THEIR HUGE SHORTS IN SILVER ARE CHOKING THEM TO DEATH. THE BANKERS INITIATED ANOTHER RAID SUPPLYING GOOD SIZED PAPER SHORTS WHICH INITIALLY DROVE THE PRICE OF SILVER DOWN. HOWEVER IN TOTAL CONTRAST TO YESTERDAY, IT WAS SILVER THAT WAS LAGGING WITH RESPECT TO THE RISE IN GOLD. THE BANKERS STILL COULD NOT COVER ANY OF THEIR SHORTS WHICH WAS AGAIN THE OBJECT OF THE EXERCISE. THE NET RESULT: A SMALLER RISE IN OPEN INTEREST WHEN COMPARED TO GOLD AND A GOOD SIZED RISE IN PRICE.
We are now in the next big non active silver contract month of August and here the OI FELL 34 contracts DOWN TO 60. We had 85 notice(s) filed yesterday. Thus we GAINED ANOTHER 51 contract(s) or an additional 255,000 oz will stand for delivery in this non active month of August and AGAIN zero EFP’s were issued for the August contract month. Please note that in gold we continually see EFP’s issued but not in silver!!
The next active contract month is September (and the last active month until December) saw it’s OI fall by 1476 contacts down to 94,017. The next non active contract month for silver after September is October and here the OI gained 176 contacts up TO 405. After October, the big active contract month is December and here the OI GAINED by 2629 contracts UP to 83,530 contracts.
We had 51 notice(s) filed for 255,000 oz for the AUGUST 2017 contract
VOLUMES: for the gold comex
YESTERDAY’S confirmed volume was 340,107 which is excellent
volumes on gold are STILL HIGHER THAN NORMAL!
Initial standings for AUGUST
August 18/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
1,318.151 oz
Scotia
Brinks
Deposits to the Dealer Inventory in oz oz
Deposits to the Customer Inventory, in oz
83,289.359 oz
Brinks
No of oz served (contracts) today
0 notice(s)
nil OZ
No of oz to be served (notices)
908 contracts
(90,800 oz)
Total monthly oz gold served (contracts) so far this month
4581 notices
458,100 oz
14.248 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 28,096.8 oz
Today we HAD 2 kilobar transaction(s)/
total dealer deposits: nil oz
We had nil dealer withdrawals:
total dealer withdrawals: 0 oz
we had 1 customer deposit(s):
i) into Brinks: 83,289.359 oz
total customer deposits; 83,289.359 oz
We had 2 customer withdrawal(s)
i) Out of Scotia: 1286.000 oz (40 kilobars)
ii) Out of brinks: 32.151 oz (1 kilobar)
total customer withdrawals; 1318.151 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 0 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
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 (4581) x 100 oz or 458,100 oz, to which we add the difference between the open interest for the front month of AUGUST (908 contracts) minus the number of notices served upon today (0) x 100 oz per contract equals 548,900 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 (4581) x 100 oz or ounces + {(908)OI for the front month minus the number of notices served upon today (0) x 100 oz which equals 548,800 oz standing in this active delivery month of AUGUST (17.073 tonnes)
we GAINED 11 contracts or an additional 1100 oz will stand for delivery and 0 EFP’s for August were issued.(FOR FIAT BONUS PLUS ANOTHER DELIVERABLE CONTRACT WHICH MOST LIKELY IS A LONDON BASED FORWARD)
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Total dealer inventory 758,311.027 or 23.58 tonnes (dealer gold continues to disappear)
Total gold inventory (dealer and customer) = 8,707,110.590 or 270.82 tonnes
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 270.82 tonnes for a loss of 31 tonnes over that period. Since August 8/2016 we have lost 82 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 12 MONTHS 82 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE AUGUST DELIVERY MONTH
August initial standings
August 18 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
31,236.910 oz
CNT
Brinks
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
nil
oz
No of oz served today (contracts)
51 CONTRACT(S)
(255,000 OZ)
No of oz to be served (notices)
9 contracts
( 45,000 oz)
Total monthly oz silver served (contracts) 1051 contracts (5,255,000 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 2,617,221.8 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 2 customer withdrawal(s):
i) out of brinks: 1012.84 oz
ii) out of CNT: 30,224.110 oz
TOTAL CUSTOMER WITHDRAWALS: 31,236.910 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 2 adjustment(s)
i) Out of Delaware: 4998.646 oz was adjusted out of the dealer and this landed into the customer account of Delaware
The total number of notices filed today for the AUGUST. contract month is represented by 51 contract(s) for 255,000 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 1051 x 5,000 oz = 5,225,000 oz to which we add the difference between the open interest for the front month of AUGUST (60) and the number of notices served upon today (51) x 5000 oz equals the number of ounces standing
.
Thus the INITIAL standings for silver for the AUGUST contract month: 1051 (notices served so far)x 5000 oz + OI for front month of AUGUST(60 ) -number of notices served upon today (51)x 5000 oz equals 5,300,000 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 ANOTHER 51 contracts or an additional 255,000 oz wishes to stand for delivery in this non active month of August and 0 EFP’s were issued for the silver August month.
At this point in the delivery cycle last year on August 16/2016 we had 100,246 contracts standing vs this yr at 94,017.
Last yr on the first day notice for the Sept silver contract we had 17.070 million oz stand for delivery.
By month end: 16.075 million oz/
Volumes: for silver comex
YESTERDAY’s confirmed volume was 110,319 contracts which is OUT OF THIS WORLD
FRIDAY’S CONFIRMED VOLUME OF 110,319 CONTRACTS WHICH EQUATES TO 551 MILLION OZ OF SILVER OR 79% 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: 38.323 million (close to record low inventory
Total number of dealer and customer silver: 215.627 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 7.4% to NAV for Cdn funds!!!!
Percentage of fund in gold 62.6%
Percentage of fund in silver:37.4%
cash .+0.0%( August 18/2017)
2. Sprott silver fund (PSLV): STOCK NAV RISES TO +0.49% (August 18/2017)
3. Sprott gold fund (PHYS): premium to NAV RISES TO -0.32% to NAV (August 17/2017 )
Note: Sprott silver trust back into POSITIVE territory at +0.49/Sprott physical gold trust is back into NEGATIVE/ territory at -0.32%/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
And now the Gold inventory at the GLD
August 18/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 795.44 TONNES
August 17/late last night, a deposit of 4.43 tonnes of gold at the GLD/inventory rests at 795.44 tonnes/the bleeding of gold has stopped.
August 16/no change in gold inventory at the GLD. Inventory rests at 791.01 tonnes
August 15/no change in gold inventory at the GLD/inventory rests at 791.01 tonnes
August 14/this is good!!: a gain of 4.14 tonnes of gold into the GLD inventory/the removal of GLD gone to the east has now stopped probably because there is no physical to send/inventory rests at 791.01 tonnes
August 11/no change in gold inventory/Inventory rests at 786.87 tonnes
August 7/no changes in gold inventory at the GLD/Inventory rests at 787.14 tonnes
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
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
August 18 /2017/ Inventory rests tonight at 795.44 tonnes
*IN LAST 215 TRADING DAYS: 154.44 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 155 TRADING DAYS: A NET 2.99 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
*FROM FEB 1/2017: A NET 13.82 TONNES HAVE BEEN WITHDRAWN.
end
Now the SLV Inventory
August 18/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY REST AT 334.407 MILLION OZ
August 17/A WITHDRAWAL OF 1.418 MILLION OZ LEAVES THE VAULTS OF THE SLV (WITH SILVER UP 25 CENTS YESTERDAY?)/INVENTORY RESTS AT 334.407 MILLION OZ
August 16/no change in silver inventory at the SLV/Inventory rests at 335.825 million oz/
August 15/no change in silver inventory at the SLV/Inventory rests at 335.825 million oz.
August 14./no change in silver inventory/inventory rests at 335.825 million/
August 11/no change in silver inventory tonight. However we lost 3,781 million oz from Tuesday through Thursday. Inventory rests at 335.825 million oz/
August 7/no change in silver inventory at the SLV/Inventory rests at 339.606 million oz
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
August 18.2017:
Inventory 334.407 million oz
end
6 Month MM GOFO
Indicative gold forward offer rate for a 6 month duration
+ 1.34%
12 Month MM GOFO
+ 1.49%
30 day trend
end
at 3:30 pm est we receive the COT report. No doubt we will see in gold the commercials increasing their mass positions.
Let us see.
COT Gold, Silver and US Dollar Index Report – August 18, 2017
— Published: Friday, 18 August 2017 | Print | Comment – New!
Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
277,730 89,996 37,693 122,138 318,769 437,561 446,458
Change from Prior Reporting Period
31,353 -7,544 1,285 -3,030 34,090 29,608 27,831
Traders
160 109 68 53 56 242 209
Small Speculators
Long Short Open Interest
40,360 31,463 477,921
-414 1,363 29,194
non reportable positions Change from the previous reporting period
COT Gold Report – Positions as of Tuesday, August 15, 2017
Our large speculators
wow!!
those large specs that have been long in gold added a whopping 31,353 contracts to their long side
those large specs that have been short in gold covered 7544 contracts from their short side.
specs go net long by 39,000 contracts.
Our commercials
those commercials that have been long in gold pitched 3030 contracts from their long side
those commercials that have been short in gold added 34,090 contracts to their short side.
commercials go net short by 37,000 contracts
Our small specs
those large specs that have been long in gold pitched 414 contracts from their long side
those large specs that have been short in gold added 1363 contracts to their short side.
Conclusions:
commercials go hugely net short by supplying the short paper to which the longs gleefully accepted.
exactly as how I described it to you these past two weeks.
this is why we are experiencing mega raids every day
and now for our Silver COT
Silver COT Report: Futures
Large Speculators Commercial
Long Short Spreading Long Short
91,596 52,745 16,096 55,918 104,006
251 -4,736 -5,504 -3,355 5,172
Traders
87 60 50 39 39
Small Speculators Open Interest Total
Long Short 187,955 Long Short
24,345 15,108 163,610 172,847
1,400 -2,140 -7,208 -8,608 -5,068
non reportable positions Positions as of: 150 131
Tuesday, August 15, 2017 © SilverSee
Please note the difference between gold and silver.
the bankers are having a tough time supplying the short paper.
Our large speculators
those large specs that have been long in silver added only 251 contracts to their long side
those large specs that have been short in silver covered 4736 contracts from their short side
large specs go net long by 5000 contracts.
Our commercials
those commercials that have been long in silver pitched 3355 contracts from their long side
those commercials that have been short in silver were only able to add 5172 contracts to their short side (to initiate raids)
commercials go net short by only 8400 contracts.
Our small specs
those small specs that have been long in silver added 1588 contracts to their long side
those small specs that have been short in silver covered 1834 contracts from their short side.
Conclusions:
As I have described to you throughout the past 10 days, our commercials are having extreme trouble trying to cover their shorts.
end
Major gold/silver trading/commentaries for FRIDAY
GOLDCORE/BLOG/MARK O’BYRNE.
GOLD/SILVER
Gold, Silver Consolidate On Last Weeks Gains, Palladium Surges 36% YTD To 16 Year High
By janskoylesAugust 18, 20170 Comments
– Gold and silver rise as stocks fall sharply after Barcelona attack
– Gold, silver 0.6% higher in week after last weeks 2%, 5% rise
– Palladium +36% ytd, breaks out & reaches 16 year high (chart)
– Gold to silver ratio falls to mid 75s after silver gains last week
– Perfect storm of financial and geopolitical tensions is driving safe haven demand and should see higher prices
– Weekly close over $1,300 could see gold quickly test $1,400
– Palladium at 16 year highs today; gold, silver in coming months?
2017 YTD Relative Performance (Finviz)
Editor Mark O’Byrne
This morning readers woke to the news that a second attack in 24 hours had taken place in Barcelona. So-called Islamic State claimed responsibility for the attacks in Spain.
Global stocks have fallen and precious metals have eked out gains this morning as investors seek out safe haven assets. Gold has risen to trade at its highest level since the beginning of June.
Gold’s reaction to the Barcelona events is likely to last and may continue today. The combination of heightened risk in the global geopolitical sphere is likely to support both gold and silver, pushing them through recent resistance. A weekly close above $1,300 per ounce will be very positive for gold and should see a rapid move to test the $1,400 level.
Gold and silver outperforming stocks
After losses earlier in the week, gold and silver have come right back and are now up 0.55% and 0.64% respectively. This is very positive as profit taking was to be expected after last weeks strong gains.
Gold and silver have consistently remained in the top-performing assets throughout the year and are beginning to outperform stocks.
In the year to date, gold is up nearly 13% whilst silver has climbed over 7.5%. The benchmark S&P500 is up 8.6% after weakness last week and this.
Both precious metals have performed well thanks to safe haven demand, much of which has been driven by very strong demand in India, China and Asia and ETF-demand in Europe.
Palladium at 16 year highs today; gold and silver in coming months
Palladium is up over 36% in the year-to-date and is the best performing commodity and market this year.
Palladium in USD – 30 Years (Macrotrends.net)
Consumption of the rare industrial precious metal is expected to hit 10.8 million ounces this year, an all-time high. Demand from the automotive industry, the biggest buyer of the metal, is up 4% this year.
Due to the high demand and limited availability of palladium there is market deficit of over 1 million ounces. The apparent five-year-long market deficit has begun to impact the availability of above-ground stocks.
This has prompted leasing rates to dramatically increase, taking the palladium market into backwardation of around 5-10%/year.
Much of palladium’s increased demand is thanks to increased demand for SUV vehicles which have to abide by tightening emission legislation from the EU. The latest announcement in the UK regarding a ban on diesel engines will also help to boost demand as consumers shift from diesel to petrol engines.
This suggests that there is little let-up for the tight supply conditions the palladium market is currently experiencing.
Safe haven demand to last
Safe haven demand is coming back and is again one of the firm drivers of precious metal prices. We have seen strong demand in August in what is frequently a quieter month as investors switch off and go on holidays.
We are operating in a very nervous financial and geopolitical environment globally. Geopolitical events can lead to price gains and safe haven demand. But the real risk is that a massive terrorist event or a cluster of many such events could impact consumer confidence, markets and the wider global economy.
And geopolitical risk is also seen in the complete mess that is U.S. politics and the Trump Presidency.
For instance, the latest drama from the Trump camp regarding the collapse of his business councils, is not in itself a reason to rush to precious metals. However, it is another sign of the cracks emerging in Trump’s administration and their complete inability to deliver on campaign promises.
The same can be said for the President’s reaction to the Charlottesville tragedy at the weekend. Both events (added to all issues since January) suggest that the current White House administration are perhaps losing sight of what it means to run the world’s declining super power.
Leading from struggles in the White House, the combative approaches of President Trump and North Korea ruler Kim Jong Un throughout the year has also helped to provide safe haven support for gold and silver.
These aren’t the only issues that are creating nervousness and uncertainty in the marketplace:
– Vladimir Putin’s geo-political ambitions combined with Russia’s growing closeness with China.
– The deteriorating relationship between Iran and the US, Israel, Saudi Arabia and significant players in the Middle East
– The near impossible problems in the Middle East—including but not limited to ISIS and al Qaeda, Syria, the worsening situation between Israel and Palestine
– Increasing divisions between Turkey and Europe – Turkey having previously been seen as an ally for the West, in the Middle East
– Signs of growing differences between many Western allies, significantly President Trump and European leaders in regard to how to deal with the above.
Will gold break $1,300?
In recent months gold has attempted to break through the $1,300 barrier a few times. This level is being touted as a psychological barrier which, when broken, could see gold perform in a way not seen since its 2011 run when the inflows of speculative money drove prices up $500 in just nine months.
However, it might not be political events that push it past this barrier. Interestingly if one looks at gold’s behaviour in the last seven or eight years, it has not reacted to political tensions (see graph below).
Source: ANZ
Instead, it has been mainly affected by monetary policy, QE, the hunt for yield and shifting inflationary / deflationary concerns. An interesting point to consider as it is, arguably, counterintuitive.
Therefore, we may see gold break through the $1,300 barrier on account of the US Federal Reserve whose last minutes surprised the markets. Whilst they gave no indication as to how the FOMC might move ahead, they did show a lack of consensus between members.
Janet Yellen previously indicated there might be three (or even four) possible interest rate rises for 2017. So far, we have had two of these which have increased U.S. interest rates by 50 basis points. These latest Fed minutes are perhaps suggesting that the FOMC is unlikely to implement even a third rate rise this year.
This should not be surprising given the lack of recovery in the US economy, inflation not meeting the required 2% and employment levels failing to reach targets.
However, we should not dismiss political tensions and their push for safe haven demand. Central banks may talk and talk but the bottom line is that ultra loose monetary policies are set to continue and remain very supportive.
For many decades we have not seen a geopolitical situation so tense, where it feels so many countries are looking over their shoulders at what could come next both in terms of political and financial threats.
The push over $1,300 could be due to a perfect storm of financial, economic and geopolitical risks, each pushing investors to look for a safe haven and time-proven financial insurance.
Conclusion
Palladium is the best performing precious metal this year. This is not thanks to events which happen today and (sadly) become tomorrow’s news.
Palladium’s stellar performance is thanks to a series of decisions and events which have caused a major supply deficit whilst demand continues to climb.
The same can be said of gold and silver. Investors must not look to one-off events such as a terrorist attacks or an angry Tweet from Trump.
It is when these events are no longer isolated incidents and instead form a much bigger picture about the uncertain state of the world.
This picture is taking shape and is slowly impacting the way people look at their finances. Soon, the picture will be much clearer and will drive safe haven investment demand.
In the meantime, those with clearer foresight would do well to see the climbing numbers in the performance chart and realise now is a good time to take advantage of low prices and insultate and rebalance your portfolio with some safe haven protection in the form of allocated, segregated gold and silver bullion.
Given these many risks, there is no good reason, that gold and silver will not follow palladium’s lead and surge to multi year highs in the coming months.
News and Commentary
Gold Futures Punch Through $1,300 as Global Stocks Extend Losses (Bloomberg.com)
Gold lifted by haven demand; palladium logs 16-year high (MarketWatch.com)
Gold steady, buoyed by geopolitical worries (Reuters.com)
Nikkei slumps to 3-month low as Asian markets dip (MarketWatch.com)
India Bans Gold Exports Above 22 Carats to Plug Trade Loopholes (Bloomberg.com)
Futures Now: Gold shines (CNBC.com)
Markets Roiled on Trump Stance Tensions: Markets Wrap (Bloomberg.com)
High-Profile Sectors Start To Roll Over (DollarCollapse.com)
What can you do about this recurring crisis? (StansBerryChurcHouse.com)
New Currency in Race to Remake One of World’s Oldest Markets (Bloomberg.com)
Gold Prices (LBMA AM)
18 Aug: USD 1,295.25, GBP 1,004.34 & EUR 1,102.65 per ounce
17 Aug: USD 1,285.90, GBP 998.12 & EUR 1,096.74 per ounce
16 Aug: USD 1,270.15, GBP 985.13 & EUR 1,082.29 per ounce
15 Aug: USD 1,274.60, GBP 986.92 & EUR 1,084.05 per ounce
14 Aug: USD 1,281.10, GBP 987.34 & EUR 1,085.48 per ounce
11 Aug: USD 1,288.30, GBP 993.67 & EUR 1,096.47 per ounce
10 Aug: USD 1,278.90, GBP 985.39 & EUR 1,091.67 per ounce
Silver Prices (LBMA)
18 Aug: USD 17.15, GBP 13.30 & EUR 14.60 per ounce
17 Aug: USD 17.02, GBP 13.23 & EUR 14.55 per ounce
16 Aug: USD 16.68, GBP 12.96 & EUR 14.25 per ounce
15 Aug: USD 16.89, GBP 13.12 & EUR 14.38 per ounce
14 Aug: USD 16.97, GBP 13.09 & EUR 14.39 per ounce
11 Aug: USD 17.09, GBP 13.18 & EUR 14.53 per ounce
10 Aug: USD 17.08, GBP 13.14 & EUR 14.57 per ounce
Recent Market Updates
– Must See Charts – Gold Hedges USD Devaluation, Rise in Oil, Food and Cost of Living Since Nixon Ended Gold Standard
– World’s Largest Hedge Fund Bridgewater Buys $68 Million of Gold ETF In Q2
– Diversify Into Gold Urges Dalio on Linkedin – “Militaristic Leaders Playing Chicken Risks Hellacious War”
– Gold Has Yet Another Purpose – Help Fight Cancer
– Gold Up 2%, Silver 5% In Week – Gundlach, Gartman and Dalio Positive On Gold
– Great Disaster Looms as Technology Disrupts White Collar Workers
– Gold Sees Safe Haven Gains On Trump “Fire and Fury” Threat
– Silver Mining Production Plummets 27% At Top Four Silver Miners
– Gold Consolidates On 2.5% Gain In July After Dollar Has 5th Monthly Decline
– 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
END
Thanks Harvey Always Good Stuff
http://www.silverdoctors.com/tag/harvey-organ/
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Ronan Manly: Wall Street Journal failed to ask the right questions
Submitted by cpowell on Fri, 2017-08-18 16:24. Section: Daily Dispatches
12:26p ET Friday, August 18, 2017
Dear Friend of GATA and Gold:
Bullion Star's gold researcher Ronan Manly today comments on the deficiencies of The Wall Street Journal's August 10 report acknowledging suspicions about the Federal Reserve Bank of New York's custody of gold reserves. Foremost among those deficiencies, Manly writes, was the newspaper's determined refusal to put any critical questions to Fed or Treasury Department officials. He specifies many such questions arising from his research. Manly's commentary is headlined "Bullion Star Quoted in Wall Street Journal Article on New York Fed Gold" and it's posted at Bullion Star here:
https://www.bullionstar.com/blogs/ronan-manly/bullionstar-quoted-wall-st...
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Jan Skoyles: Gold hedges dollar devaluation and price inflation
Submitted by cpowell on Fri, 2017-08-18 16:48. Section: Daily Dispatches
12:47p ET Friday, August 18, 2017
Dear Friend of GATA and Gold:
While recent gold investors may be disappointed, GoldCore's Jan Skoyles notes today that since the United States abandoned the gold standard in 1971 the monetary metal has protected its owners very well against the steady devaluation of the U.S. dollar and inflation in basic goods. Skoyles' analysis is headlined "Must-See Charts -- Gold Hedges US Dollar Devaluation, Rise in Oil, Food, and Cost of Living Since Nixon Ended Gold Standard" and it's posted at GoldCore here:
http://www.goldcore.com/us/gold-blog/must-see-charts-gold-hedges-usd-dev...
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