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Panicked Commercials Flip Net LONG in Silver!
Posted on March 6, 2016 by The Doc
Silver News » Harvey Organ: Panicked Commercials Flip Net LONG in Silver!
rocketThe commercials that have been short in silver covered a huge 5455 contracts from their short side.
Conclusions: the commercials go net long by 8440 contracts!
Something is bothering them and it may explain the huge activity inside the COMEX vaults…
Harvey Organ
GLD ADDS A WHOPPING 7.13 TONNES TO ITS INVENTORY/SLV ADDS 5.426 MILLION OZ TO ITS INVENTORY/THE BIG NEWS OF THE DAY; BLACKROCK’S GOLD ETF, IAU SUSPENDS THE ISSUANCE OF SHARES BECAUSE DEMAND FOR GOLD IS TOO STRONG (REAL MEANING: THEY CANNOT FIND PHYSICAL)/FORMER BRAZILIAN PRESIDENT LULA HELD BY FEDERAL POLICE: CHARGES PENDING AFTER A RAID ON HIS HOUSE/HONG KONG TO CHANGE ITS FUTURE GOLD CONTRACTS STATING THAT IT WILL BE SETTLED NOW ONLY IN PHYSICAL GOLD PRICED IN YUAN OR DOLLARS: PREVIOUSLY ONLY CASH SETTLED/ANOTHER PHONY JOBS REPORT OF 242,000 JOBS GAINS (WITH A 129,000 BIRTH/DEATH PLUG ADDITION/HUGE DISAPPEARANCE OF THE USA 10 YR TREASURIES AS COLLATERAL IS DISSIPATING RAPIDLY/AT END OF THE DAY, THE FED INTENDS TO LIMIT BANK’S EXPOSURE ON ONE COUNTERPARTY:
BANKS DO NOT LIKE THAT!
At the gold comex today, we had a fair delivery day, registering 16 notices for 1600 ounces and for silver we had 102 notices for 510,000 oz for the active March delivery month.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 212.03 tonnes for a loss of 91 tonnes over that period.
In silver, the open interest rose by 1033 contracts up to 164,801. In ounces, the OI is still represented by .824 billion oz or 118% of annual global silver production (ex Russia ex China). Generally as we go into an active delivery month the liquidation is much bigger.
In silver we had 102 notices served upon for 510,000 oz.
In gold, the total comex gold OI rose by a gigantic 25,944 contracts to 482,938 contracts as the price of gold was up $16.30 with yesterday’s trading.(at comex closing)
We had another huge change in gold inventory at the GLD, a mammoth sized deposit of 7,13 tonnes and gold goes down early this morning? and rises only slightly? / thus the inventory rests tonight at 793.33 tonnes. The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold. Our 670 tonnes of rock bottom inventory in GLD gold has been broken. It looks to me that China has taken the last amounts of physical gold from the GLD. I guess the only place left for China to receive physical gold, after they deplete the GLD will be the FRBNY and the comex. In silver,/we again had a major change in inventory/this time another huge deposit of 5.426 million oz and thus the Inventory rests at 319.776 million oz
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver rose by 1033 contracts up to 164,801 as the price of silver was up 13 cents with yesterday’s trading. The total OI for gold rose by 25,944 contracts to 482,938 contracts as gold was up $16.30 in price from yesterday’s level.
(report Harvey)
2 a) Gold trading overnight, Goldcore
(Mark OByrne)
2b) COT report
(Harvey)
3. ASIAN AFFAIRS
i)Late THURSDAY night/ FRIDAY morning: Shanghai closed UP BY 14.39 POINTS OR 0.50% ON A LAST HR RESCUE, / Hang Sang closed UP by 234.94 points or 1.18% . The Nikkei closed UP 54.62 or 0.32%. Australia’s all ordinaires was UP .18%. Chinese yuan (ONSHORE) closed UP at 6.5120. Oil GAINED to 34.69 dollars per barrel for WTI and 37.20 for Brent. Stocks in Europe so far IN THE GREEN . Offshore yuan trades 6.5098 yuan to the dollar vs 6.5120 for onshore yuan/ ON WEDNESDAY, MOODYS DOWNGRADES CHINA’S CREDIT FROM STABLE TO NEGATIVE
ii) Yuan soars on POBC intervention
(zero hedge)
iii)The Chinese plunge protection team came to the rescue of markets last night ahead of the big party meeting
( zero hedge)
GLOBAL ISSUES
The global shipping of dry goods continue to sink as the CEO of the large shipping company Golden Ocean Group is expecting many bankruptcies. He warns of huge counterparty risk:
(zero hedge)
EMERGING MARKETS
Former President and much beloved by his people has been detained by Federal police. Believe it or not, the real rose over 2.5% on that news: also Petrobas rises 18%. the real rose because the world believes that for once corruption in that country will be stopped.
( zero hedge)
OIL MARKETS
i) Surprisingly WTI crude spikes to 2 month highs on the massive short squeeze we are witnessing
( zero hedge)
ii)Rig counts continue to decline. They dropped below 400 for the first time since 2009:
( zero hedge)
100 oz Silver RCM Bar
PHYSICAL MARKETS
i)THE BIG STORY OF THE DAY:
Gold reacts to the suspension of gold ETF due to:
1. huge demand for gold
2. lack of supply for the physical metal.
( BlackRock/zero hedge)
ii) Indian citizens are revolting on another sales tax for gold!
( Bloomberg/GATA)
iii)This is big news. Hong Kong will change its futures gold contracts to settle in real gold and the gold will be denominated in yuan and in dollars. The previous contract was only in dollars and was cash settled.
( Bloomberg/GATA)
iv)Alasdair Macleod’s commentary tonight is entitled:
(
“Brexit and a Hanseatic League”
Alasdair Macleod)
v)Bill Holter’s paper is a good one. It is entitled:
“Outright PANIC!”
(Holter-Sinclair collaboration)
vi)Good reason for copper to rise today: Chinese inventories skyrocket
( zero hedge)
vii)James Turk on the huge demand for silver:
(courtesy James Turk/iRD/Dave Kranzler)
USA STORIES WHICH WILL INFLUENCE THE PRICE OF GOLD AND SILVER
i)payrolls surge 242,000!! even as hourly earnings unexpectedly drop: the official release!
( zero hedge)
ii)the market INITIALLY does not buy the jobs number:
( zero hedge)
iii)Over 80% of the jobs created in January were minimum wage earners:
( zero hedge)
iv) What a joke: the USA has added 360,000 waiter jobs but only 12,000 manufacturing jobs:
( zero hedge)
v)What the Fed needs is job growth. They did not get it as weekly earnings drop the most on record!
( zero hedge)
vi)Just look at what the lack of collateral in the 10 yr treasuries has done to this market. We now see an increase in “fails charge” as it is better for short investors to pay the penalty and not deliver as opposed to finding what little collateral (treasuries) are out there. The huge shorting is potentially driving up rates on the 10 yr treasuries. No doubt at around 1.88%, yield starving entities around the world would be unleashed, driving these yields back below the 1.60 level
an important read..
( zero hedge)
vii)This came out of left field. Late this afternoon, stocks tumble after the Fed plans that our too big to fail banks have a bank counterparty risk cap. JPMorgan is tumbling and so are stocks.
(zero hedge)
viii)The USA trade report is worse than thought and the culprit is the high USA dollar:( Bloomberg)
ix) This week’s wrap up with greg Hunter
(Greg Hunter/USAWatchdog)
Let us head over to the comex:
The total gold comex open interest rose to a high of 482,938 for a monstrous gain of 25,944 contracts as the price of gold was up $16.30 in price with respect to yesterday’s trading. For the past two years, we have strangely witnessed two interesting developments with respect to the gold open interest: 1) total gold comex collapse in OI as we enter an active delivery month or for that matter an inactive month, and 2) a continual drop in the amount of gold standing in an active month. Today, only the first scenario was in order as we actually gained in number of ounces standing for March. The front March contract month saw its OI fall by 65 contracts down to 106.We had 87 notices filed yesterday, and as such we gained 22 contracts or an additional 2200 oz will stand for delivery. After March, the active delivery month of April saw it’s OI rise by 15,803 contracts up to 315,469. The estimated volume today (which is just comex sales during regular business hours of 8:20 until 1:30 pm est) was 369,479 which is humongous. The confirmed volume yesterday (which includes the volume during regular business hours + access market sales the previous day was excellent at 258,872 contracts.It seems that the bankers supplied the necessary gold paper today with reckless abandon. The comex is back in backwardation until April.
Today we had 16 notices filed for 1600 oz in gold.
And now for the wild silver comex results. Silver OI rose by 1033 contracts from 163,768 up to 164,801 as the price of silver was up by 13 cents with yesterday’s trading. The next big active contract month is March and here the OI fell by 687 contracts down to 2766 contracts. We had 186 notices served upon yesterday, so we lost 501 contracts or an additional 2,505,000 ounces will not stand for delivery. The next contract month after March is April and here the OI rose by 21 contracts up to 403. The next active contract month is May and here the OI rose by 443 contracts up to 116,768. The volume on the comex today (just comex) came in at 69,880 , which is huge. The confirmed volume yesterday (comex + globex) was excellent at 48,980. Silver is not in backwardation at the comex but is in backwardation in London.
We had 102 notices filed for 510,000 oz.
March contract month:
INITIAL standings for MARCH
March 4/2016
Gold
Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz nil 2025.45 oz(Scotia)
63 kilobars
Deposits to the Dealer Inventory in oz 30,126.65 ozBRINKS
Deposits to the Customer Inventory, in oz 28,711.89 ozSCOTIA
No of oz served (contracts) today 16 contracts
(1,600 oz)
No of oz to be served (notices) 90 contracts(9000 oz)
Total monthly oz gold served (contracts) so far this month 521 contracts (52,100 oz)
Total accumulative withdrawals of gold from the Dealers inventory this month nil
Total accumulative withdrawal of gold from the Customer inventory this month 101,471.1 oz
Today, we had 1 dealer transaction
i) Into brinks: 30,126.65 oz
(and for a change a real deposit instead of those phony 4,000.00 deposits)
total dealer deposit; 30,126.65 oz
we had no dealer withdrawals
total dealer withdrawals nil. oz
We had 1 customer withdrawals:
i) Out of Scotia: 2025.45 oz (63 kilobars)
total customer withdrawal: 2025.45 oz
we had 0 customer deposits:
total customer deposit: nil oz
we had 0 adjustment
SilverMapleSDBullion
JPMorgan has a total of 46,083.778 oz or 1.4333 tonnes in its dealer or registered account.
***JPMorgan now has 634,356.528 or 19.734 tonnes in its customer account.
Today, 0 notices was issued from JPMorgan dealer account and 0 notice were issued from their client or customer account. The total of all issuance by all participants equates to 16 contracts of which 5 notices was stopped (received) by JPMorgan dealer and 0 notices were stopped (received) by JPMorgan customer account.
To calculate the initial total number of gold ounces standing for the Mar contract month, we take the total number of notices filed so far for the month (521) x 100 oz or 52,100 oz , to which we add the difference between the open interest for the front month of March (106 contracts) minus the number of notices served upon today (16) x 100 oz x 100 oz per contract equals the number of ounces standing.
Thus the INITIAL standings for gold for the March. contract month:
No of notices served so far (521) x 100 oz or ounces + {OI for the front month (106) minus the number of notices served upon today (16) x 100 oz which equals 61,100 oz standing in this non active delivery month of March (1.900 tonnes)
we gained a huge 2200 oz of additional gold standing for March delivery.
We thus have 1.900 tonnes of gold standing and 9.475 tonnes of registered gold for sale, waiting to serve upon those standing. The bankers are still doing their best in cash settling as there is not enough registered gold to satisfy those that are standing.
We now have partial evidence of gold settling for last months deliveries We now have 1.900 tonnes (March) + 7.99 (total Feb)- .940 (probable delivery on March 1) tonnes = 8.882 tonnes standing against 9.475 tonnes available. .
Total dealer inventor 334,772.85 oz or 10.412 tonnes
Total gold inventory (dealer and customer) =6,816,892.643 or 212.03 tonnes
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 212.03 tonnes for a loss of 91 tonnes over that period.
JPMorgan has only 21.16 tonnes of gold total (both dealer and customer)
end
And now for silver
MARCH INITIAL standings/
March 4/2016:
Silver
Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory 2,108,993.611 oz(Delaware,Scotia, JPM)
Deposits to the Dealer Inventory nil
Deposits to the Customer Inventory 361,657.56 oz
(Scotia)
No of oz served today (contracts) 102 contracts 510,000 oz
No of oz to be served (notices) 2664 contract (13,320,000 oz)
Total monthly oz silver served (contracts) 320 contracts (1,600,000 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 7,036,067.3 oz
Today, we had 0 deposits into the dealer account:
total dealer deposit;nil oz
we had 0 dealer withdrawals:
total dealer withdrawals: nil
we had 1 customer deposit
i) Into Scotia: 361,657.56 oz
:
total customer deposits: 361,657.56 oz
We had 3 customer withdrawals:
i) Out of Delaware; 609,698.76 oz
ii) Out of Scotia; 846,386.36 oz
ii) Out of JPM: 652,908.49 oz
total withdrawals from customer account 2,108,993.611 oz
we had 0 adjustment
The total number of notices filed today for the March contract month is represented by 102 contracts for 510,000 oz. To calculate the number of silver ounces that will stand for delivery in March., we take the total number of notices filed for the month so far at (321) x 5,000 oz = 1,600,000 oz to which we add the difference between the open interest for the front month of March (2766) and the number of notices served upon today (102) x 5000 oz equals the number of ounces standing
Thus the initial standings for silver for the March. contract month: 320 (notices served so far)x 5000 oz +(2766{ OI for front month of March ) -number of notices served upon today (102)x 5000 oz equals 15,920,000 oz of silver standing for the March contract month.
we lost a whopping 501 contracts or an additional 2,505,000,000 oz that will not stand.
No doubt these were cash settled as they are running out of real silver.
Total dealer silver: 25.725 million (near all time recorded low level)
Total number of dealer and customer silver: 150.438 million oz
Question: 1. why so much activity in the silver comex?
Question 2. why so much deposit of silver and yet tiny delivery notices?
Question 3: why are the total inventory in silver rapidly declining in total?
end
Hope your enjoying you weekend !
" rel="nofollow" target="_blank" >Sunday reads
Panicked Commercials Flip Net LONG in Silver!
Posted on March 6, 2016 by The Doc
Silver News » Harvey Organ: Panicked Commercials Flip Net LONG in Silver!
rocketThe commercials that have been short in silver covered a huge 5455 contracts from their short side.
Conclusions: the commercials go net long by 8440 contracts!
Something is bothering them and it may explain the huge activity inside the COMEX vaults…
Harvey Organ
GLD ADDS A WHOPPING 7.13 TONNES TO ITS INVENTORY/SLV ADDS 5.426 MILLION OZ TO ITS INVENTORY/THE BIG NEWS OF THE DAY; BLACKROCK’S GOLD ETF, IAU SUSPENDS THE ISSUANCE OF SHARES BECAUSE DEMAND FOR GOLD IS TOO STRONG (REAL MEANING: THEY CANNOT FIND PHYSICAL)/FORMER BRAZILIAN PRESIDENT LULA HELD BY FEDERAL POLICE: CHARGES PENDING AFTER A RAID ON HIS HOUSE/HONG KONG TO CHANGE ITS FUTURE GOLD CONTRACTS STATING THAT IT WILL BE SETTLED NOW ONLY IN PHYSICAL GOLD PRICED IN YUAN OR DOLLARS: PREVIOUSLY ONLY CASH SETTLED/ANOTHER PHONY JOBS REPORT OF 242,000 JOBS GAINS (WITH A 129,000 BIRTH/DEATH PLUG ADDITION/HUGE DISAPPEARANCE OF THE USA 10 YR TREASURIES AS COLLATERAL IS DISSIPATING RAPIDLY/AT END OF THE DAY, THE FED INTENDS TO LIMIT BANK’S EXPOSURE ON ONE COUNTERPARTY:
BANKS DO NOT LIKE THAT!
At the gold comex today, we had a fair delivery day, registering 16 notices for 1600 ounces and for silver we had 102 notices for 510,000 oz for the active March delivery month.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 212.03 tonnes for a loss of 91 tonnes over that period.
In silver, the open interest rose by 1033 contracts up to 164,801. In ounces, the OI is still represented by .824 billion oz or 118% of annual global silver production (ex Russia ex China). Generally as we go into an active delivery month the liquidation is much bigger.
In silver we had 102 notices served upon for 510,000 oz.
In gold, the total comex gold OI rose by a gigantic 25,944 contracts to 482,938 contracts as the price of gold was up $16.30 with yesterday’s trading.(at comex closing)
We had another huge change in gold inventory at the GLD, a mammoth sized deposit of 7,13 tonnes and gold goes down early this morning? and rises only slightly? / thus the inventory rests tonight at 793.33 tonnes. The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold. Our 670 tonnes of rock bottom inventory in GLD gold has been broken. It looks to me that China has taken the last amounts of physical gold from the GLD. I guess the only place left for China to receive physical gold, after they deplete the GLD will be the FRBNY and the comex. In silver,/we again had a major change in inventory/this time another huge deposit of 5.426 million oz and thus the Inventory rests at 319.776 million oz
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver rose by 1033 contracts up to 164,801 as the price of silver was up 13 cents with yesterday’s trading. The total OI for gold rose by 25,944 contracts to 482,938 contracts as gold was up $16.30 in price from yesterday’s level.
(report Harvey)
2 a) Gold trading overnight, Goldcore
(Mark OByrne)
2b) COT report
(Harvey)
3. ASIAN AFFAIRS
i)Late THURSDAY night/ FRIDAY morning: Shanghai closed UP BY 14.39 POINTS OR 0.50% ON A LAST HR RESCUE, / Hang Sang closed UP by 234.94 points or 1.18% . The Nikkei closed UP 54.62 or 0.32%. Australia’s all ordinaires was UP .18%. Chinese yuan (ONSHORE) closed UP at 6.5120. Oil GAINED to 34.69 dollars per barrel for WTI and 37.20 for Brent. Stocks in Europe so far IN THE GREEN . Offshore yuan trades 6.5098 yuan to the dollar vs 6.5120 for onshore yuan/ ON WEDNESDAY, MOODYS DOWNGRADES CHINA’S CREDIT FROM STABLE TO NEGATIVE
ii) Yuan soars on POBC intervention
(zero hedge)
iii)The Chinese plunge protection team came to the rescue of markets last night ahead of the big party meeting
( zero hedge)
GLOBAL ISSUES
The global shipping of dry goods continue to sink as the CEO of the large shipping company Golden Ocean Group is expecting many bankruptcies. He warns of huge counterparty risk:
(zero hedge)
EMERGING MARKETS
Former President and much beloved by his people has been detained by Federal police. Believe it or not, the real rose over 2.5% on that news: also Petrobas rises 18%. the real rose because the world believes that for once corruption in that country will be stopped.
( zero hedge)
OIL MARKETS
i) Surprisingly WTI crude spikes to 2 month highs on the massive short squeeze we are witnessing
( zero hedge)
ii)Rig counts continue to decline. They dropped below 400 for the first time since 2009:
( zero hedge)
100 oz Silver RCM Bar
PHYSICAL MARKETS
i)THE BIG STORY OF THE DAY:
Gold reacts to the suspension of gold ETF due to:
1. huge demand for gold
2. lack of supply for the physical metal.
( BlackRock/zero hedge)
ii) Indian citizens are revolting on another sales tax for gold!
( Bloomberg/GATA)
iii)This is big news. Hong Kong will change its futures gold contracts to settle in real gold and the gold will be denominated in yuan and in dollars. The previous contract was only in dollars and was cash settled.
( Bloomberg/GATA)
iv)Alasdair Macleod’s commentary tonight is entitled:
(
“Brexit and a Hanseatic League”
Alasdair Macleod)
v)Bill Holter’s paper is a good one. It is entitled:
“Outright PANIC!”
(Holter-Sinclair collaboration)
vi)Good reason for copper to rise today: Chinese inventories skyrocket
( zero hedge)
vii)James Turk on the huge demand for silver:
(courtesy James Turk/iRD/Dave Kranzler)
USA STORIES WHICH WILL INFLUENCE THE PRICE OF GOLD AND SILVER
i)payrolls surge 242,000!! even as hourly earnings unexpectedly drop: the official release!
( zero hedge)
ii)the market INITIALLY does not buy the jobs number:
( zero hedge)
iii)Over 80% of the jobs created in January were minimum wage earners:
( zero hedge)
iv) What a joke: the USA has added 360,000 waiter jobs but only 12,000 manufacturing jobs:
( zero hedge)
v)What the Fed needs is job growth. They did not get it as weekly earnings drop the most on record!
( zero hedge)
vi)Just look at what the lack of collateral in the 10 yr treasuries has done to this market. We now see an increase in “fails charge” as it is better for short investors to pay the penalty and not deliver as opposed to finding what little collateral (treasuries) are out there. The huge shorting is potentially driving up rates on the 10 yr treasuries. No doubt at around 1.88%, yield starving entities around the world would be unleashed, driving these yields back below the 1.60 level
an important read..
( zero hedge)
vii)This came out of left field. Late this afternoon, stocks tumble after the Fed plans that our too big to fail banks have a bank counterparty risk cap. JPMorgan is tumbling and so are stocks.
(zero hedge)
viii)The USA trade report is worse than thought and the culprit is the high USA dollar:( Bloomberg)
ix) This week’s wrap up with greg Hunter
(Greg Hunter/USAWatchdog)
Let us head over to the comex:
The total gold comex open interest rose to a high of 482,938 for a monstrous gain of 25,944 contracts as the price of gold was up $16.30 in price with respect to yesterday’s trading. For the past two years, we have strangely witnessed two interesting developments with respect to the gold open interest: 1) total gold comex collapse in OI as we enter an active delivery month or for that matter an inactive month, and 2) a continual drop in the amount of gold standing in an active month. Today, only the first scenario was in order as we actually gained in number of ounces standing for March. The front March contract month saw its OI fall by 65 contracts down to 106.We had 87 notices filed yesterday, and as such we gained 22 contracts or an additional 2200 oz will stand for delivery. After March, the active delivery month of April saw it’s OI rise by 15,803 contracts up to 315,469. The estimated volume today (which is just comex sales during regular business hours of 8:20 until 1:30 pm est) was 369,479 which is humongous. The confirmed volume yesterday (which includes the volume during regular business hours + access market sales the previous day was excellent at 258,872 contracts.It seems that the bankers supplied the necessary gold paper today with reckless abandon. The comex is back in backwardation until April.
Today we had 16 notices filed for 1600 oz in gold.
And now for the wild silver comex results. Silver OI rose by 1033 contracts from 163,768 up to 164,801 as the price of silver was up by 13 cents with yesterday’s trading. The next big active contract month is March and here the OI fell by 687 contracts down to 2766 contracts. We had 186 notices served upon yesterday, so we lost 501 contracts or an additional 2,505,000 ounces will not stand for delivery. The next contract month after March is April and here the OI rose by 21 contracts up to 403. The next active contract month is May and here the OI rose by 443 contracts up to 116,768. The volume on the comex today (just comex) came in at 69,880 , which is huge. The confirmed volume yesterday (comex + globex) was excellent at 48,980. Silver is not in backwardation at the comex but is in backwardation in London.
We had 102 notices filed for 510,000 oz.
March contract month:
INITIAL standings for MARCH
March 4/2016
Gold
Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz nil 2025.45 oz(Scotia)
63 kilobars
Deposits to the Dealer Inventory in oz 30,126.65 ozBRINKS
Deposits to the Customer Inventory, in oz 28,711.89 ozSCOTIA
No of oz served (contracts) today 16 contracts
(1,600 oz)
No of oz to be served (notices) 90 contracts(9000 oz)
Total monthly oz gold served (contracts) so far this month 521 contracts (52,100 oz)
Total accumulative withdrawals of gold from the Dealers inventory this month nil
Total accumulative withdrawal of gold from the Customer inventory this month 101,471.1 oz
Today, we had 1 dealer transaction
i) Into brinks: 30,126.65 oz
(and for a change a real deposit instead of those phony 4,000.00 deposits)
total dealer deposit; 30,126.65 oz
we had no dealer withdrawals
total dealer withdrawals nil. oz
We had 1 customer withdrawals:
i) Out of Scotia: 2025.45 oz (63 kilobars)
total customer withdrawal: 2025.45 oz
we had 0 customer deposits:
total customer deposit: nil oz
we had 0 adjustment
SilverMapleSDBullion
JPMorgan has a total of 46,083.778 oz or 1.4333 tonnes in its dealer or registered account.
***JPMorgan now has 634,356.528 or 19.734 tonnes in its customer account.
Today, 0 notices was issued from JPMorgan dealer account and 0 notice were issued from their client or customer account. The total of all issuance by all participants equates to 16 contracts of which 5 notices was stopped (received) by JPMorgan dealer and 0 notices were stopped (received) by JPMorgan customer account.
To calculate the initial total number of gold ounces standing for the Mar contract month, we take the total number of notices filed so far for the month (521) x 100 oz or 52,100 oz , to which we add the difference between the open interest for the front month of March (106 contracts) minus the number of notices served upon today (16) x 100 oz x 100 oz per contract equals the number of ounces standing.
Thus the INITIAL standings for gold for the March. contract month:
No of notices served so far (521) x 100 oz or ounces + {OI for the front month (106) minus the number of notices served upon today (16) x 100 oz which equals 61,100 oz standing in this non active delivery month of March (1.900 tonnes)
we gained a huge 2200 oz of additional gold standing for March delivery.
We thus have 1.900 tonnes of gold standing and 9.475 tonnes of registered gold for sale, waiting to serve upon those standing. The bankers are still doing their best in cash settling as there is not enough registered gold to satisfy those that are standing.
We now have partial evidence of gold settling for last months deliveries We now have 1.900 tonnes (March) + 7.99 (total Feb)- .940 (probable delivery on March 1) tonnes = 8.882 tonnes standing against 9.475 tonnes available. .
Total dealer inventor 334,772.85 oz or 10.412 tonnes
Total gold inventory (dealer and customer) =6,816,892.643 or 212.03 tonnes
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 212.03 tonnes for a loss of 91 tonnes over that period.
JPMorgan has only 21.16 tonnes of gold total (both dealer and customer)
end
And now for silver
MARCH INITIAL standings/
March 4/2016:
Silver
Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory 2,108,993.611 oz(Delaware,Scotia, JPM)
Deposits to the Dealer Inventory nil
Deposits to the Customer Inventory 361,657.56 oz
(Scotia)
No of oz served today (contracts) 102 contracts 510,000 oz
No of oz to be served (notices) 2664 contract (13,320,000 oz)
Total monthly oz silver served (contracts) 320 contracts (1,600,000 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 7,036,067.3 oz
Today, we had 0 deposits into the dealer account:
total dealer deposit;nil oz
we had 0 dealer withdrawals:
total dealer withdrawals: nil
we had 1 customer deposit
i) Into Scotia: 361,657.56 oz
:
total customer deposits: 361,657.56 oz
We had 3 customer withdrawals:
i) Out of Delaware; 609,698.76 oz
ii) Out of Scotia; 846,386.36 oz
ii) Out of JPM: 652,908.49 oz
total withdrawals from customer account 2,108,993.611 oz
we had 0 adjustment
The total number of notices filed today for the March contract month is represented by 102 contracts for 510,000 oz. To calculate the number of silver ounces that will stand for delivery in March., we take the total number of notices filed for the month so far at (321) x 5,000 oz = 1,600,000 oz to which we add the difference between the open interest for the front month of March (2766) and the number of notices served upon today (102) x 5000 oz equals the number of ounces standing
Thus the initial standings for silver for the March. contract month: 320 (notices served so far)x 5000 oz +(2766{ OI for front month of March ) -number of notices served upon today (102)x 5000 oz equals 15,920,000 oz of silver standing for the March contract month.
we lost a whopping 501 contracts or an additional 2,505,000,000 oz that will not stand.
No doubt these were cash settled as they are running out of real silver.
Total dealer silver: 25.725 million (near all time recorded low level)
Total number of dealer and customer silver: 150.438 million oz
Question: 1. why so much activity in the silver comex?
Question 2. why so much deposit of silver and yet tiny delivery notices?
Question 3: why are the total inventory in silver rapidly declining in total?
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