Wednesday, May 03, 2017 2:44:51 AM
Just Stuff
Good Morning
MMgys CQs
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The TF Metals Report's Craig Hemke today reminds investors that if they play in the silver futures market against bullion banks that can create infinite imaginary supply of the monetary metal, they are going to lose, and though the market is rigged, government regulators are not going to do anything about it. Hemke's analysis is headlined "Comex Crime Scene Mechanics" and it's posted at the TF Metals Report here:
https://www.tfmetalsreport.com/blog/8313/comex-crime-scene-mechanics
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Something STRANGE Is Going On In Silver! – Harvey Organ
Posted on May 2, 2017 by The Doc
SOMETHING EXTREMELY STRANGE:
SLV INVENTORY RISES BY 3.50 MILLION OZ TO 334.991 MILLION OZ/BOTH GOLD AND SILVER RISE: GOLD UP $1.80 AND SILVER IS UP 1 CENT/THE AMOUNT OF SILVER STANDING AT THE COMEX RISES AGAIN BY 920, 000 OZ/CHINA ANGRY AT THE DEPLOYMENT OF THE ANTI THAAD MISSILES IN SOUTH KOREA/TRUMP AND PUTIN TALK AND AGREE TO MEET IN JULY AND THEY BOTH ASK FOR RESTRAINT WITH RESPECT TO NORTH KOREA AND SYRIA/THE EU WILL ASK THE UK FOR 100 BILLION EUROS FOR BREAKING AWAY FROM THE UNION/AIR ALITALIA IN BANKRUPTCY PROTECTION AND MAY BE LIQUIDATED: A HUGE HIT TO ITALY’S GDP/APPLE DISAPPOINTS/BLOODBATH IN THE AUTO SECTOR
Gold: $1255.10 UP 1.80
Silver: $16.83 up 1 cent(s)
Closing access prices:
Gold $1256.90
silver: $16.83!!!
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SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
SHANGHAI FIRST GOLD FIX: $1268.32 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: 1257.25
PREMIUM FIRST FIX: $11.07
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SECOND SHANGHAI GOLD FIX: $1266.95
NY GOLD PRICE AT THE EXACT SAME TIME: 1255.80
Premium of Shanghai 2nd fix/NY:$11.15
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LONDON FIRST GOLD FIX: 5:30 am est $1255.80
NY PRICING AT THE EXACT SAME TIME: $1255.10
LONDON SECOND GOLD FIX 10 AM: $1255.45
NY PRICING AT THE EXACT SAME TIME. $1254.85
For comex gold:
MAY/
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 8 NOTICE(S) FOR 800 OZ.
TOTAL NOTICES SO FAR: 35 FOR 3500 OZ (.1088 TONNES)
For silver:
For silver: MAY
535 NOTICES FILED TODAY FOR 2,675,000 OZ/
Total number of notices filed so far this month: 2713 for 13,565,000 oz
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FEDERAL RESERVE EAR MARKED GOLD REPORT for April
In Feb we had $7,841,000 worth of gold housed at the FRBNY valued at 42.21 dollars per oz
Last month: we had the same; $7,841,000 of gold valued at 42.21
thus 0 oz of gold moved out.
END
The key event today is the rising amount of silver that is standing for metal at the comex. It has now risen above what was standing on day one, April 30. On that day 16.8 million oz stood for delivery and for two consecutive days it has risen to close to 18.2 million oz. We have not seen that before.
Let us have a look at the data for today
.
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In silver, the total open interest FELL BY ONLY 1892 contracts DOWN to 194,123 WITH THE LOSS IN PRICE ( 38 CENTS) SILVER TOOK WITH RESPECT TO YESTERDAY’S TRADING. FOR THE PAST FEW YEARS WE HAVE NOTICED THAT THE OPEN INTEREST IN AN ACTIVE MONTH COLLAPSES AS WE APPROACH FIRST DAY NOTICE. WE NOW KNOW THAT THE MAJORITY OF THE LIQUIDATION RECEIVE AN EFP CONTRACT IN A FUTURE MONTH PLUS FIAT BONUS. WE HAVE BEEN WITNESSING THIS SAME PATTERN NOW FOR AT LEAST THE LAST COUPLE OF YEARS. In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.970 BILLION TO BE EXACT or 142% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 535 NOTICE(S) FOR 2,713,000 OZ OF SILVER
In gold, the total comex gold FELL BY 5,451 contracts WITH THE FALL IN THE PRICE OF GOLD ($11.80 with YESTERDAY’S TRADING). The total gold OI stands at 465,336 contracts.
we had 8 notice(s) filed upon for 800 oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD:
We had no changes in tonnes of gold at the GLD:
Inventory rests tonight: 853.36 tonnes
.
SLV
Strange!!! We had another huge change in silver inventory at the SLV today..a massive deposit of 3,502 million oz with silver in the doldrums these past few days??????)
THE SLV Inventory rests at: 334.921 million oz
end
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver FELL BY ONLY 1,892 contracts DOWN TO 194,123, (AND NOW FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21 AT 234,787), WITH THE FALL IN PRICE FOR SILVER ON FRIDAY (38 CENTS). It sure looks like we are witnessing the power of that obscure EFP contract. For the past few years, strangely we have seen the open interest collapse as we enter first day notice. The EFP allows the longs to liquidate his delivery contract month for a fiat bonus and the receipt of a future contract month once first day notice has occurred.
(report Harvey
.
2.a) The Shanghai and London gold fix report
(Harvey)
2 b) Gold/silver trading overnight Europe, Goldcore
(Mark O’Byrne/zerohedge
and in NY: Bloomberg
2c) Federal Reserve Bank ear marked gold movement
(Harvey)
3. ASIAN AFFAIRS
i)Late MONDAY night/TUESDAY morning: Shanghai closed DOWN 10.95 POINTS OR .35% OR / /Hang Sang CLOSED UP 81.00 PONTS OR .33% . The Nikkei closed UP 135.18 OR 0.70% /Australia’s all ordinaires CLOSED DOWN .08%/Chinese yuan (ONSHORE) closed DOWN at 6.8953/Oil UP to 49.25 dollars per barrel for WTI and 52.03 for Brent. Stocks in Europe OPENED IN THE GREEN ..Offshore yuan trades 6.8920 yuan to the dollar vs 6.8953 for onshore yuan. NOW THE OFFSHORE IS A LITTLE WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN SLIGHTLY WEAKER (TO THE DOLLAR) AND THE OFFSHORE YUAN A LITTLE STRONGER TO THE DOLLAR AND THIS IS COUPLED WITH THE WEAKER DOLLAR. CHINA IS HAPPY
3a)THAILAND/SOUTH KOREA/NORTH KOREA
i)NORTH KOREA
More rhetoric from Kim as he is furious after the USA and Sout Korea deployed lancer bombers in war exercises conducted off the Korean peninsula
( zero hedge)
b) REPORT ON JAPAN
c) REPORT ON CHINA
i)CHINA/SOUTH KOREA/USA
China angry at the USA deployment of the THAAD anti missile defense system in South Korea. They warned of consequences
( zero hedge)
ii)NORTH KOREA//CHINA
China unleash an oil embargo on North Korea which would cripple the country:
(Calcuttawala/OilPrice.com)
4. EUROPEAN AFFAIRS
i)ITALY/Air Alitalia
It does not look good for Itays national carrier as they have filed for bankruptcy protection for the 2nd time in 9 years. Nobody is setting up to the plate to provide financing for the airline
( zero hedge)
ib)The Italian Government approves the Alitalia bankruptcy as it bonds collapse into the teens. A complete liquidation will cause 12,000 people to lose their jobs as well as a big hit the Italy’s GDP
this will be a continuing story..
(courtesy zero hedge)
ii)GREECE
Greece is going to be raped some more as they settle for more austerity measures in return for bailout money. Why they do not leave the EU is beyond me!
(zero hedge)
iii)GERMANY
Non Germans make up 10% of the population yet they account for 30.5% of all crimes in the country in 2016
( Kern/Gatestone Institute)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
Russia/USA
Putin and Trump hold their phone call and both are asking for restraint in dealing with Syria and North Korea;
( zero hedge)
6 .GLOBAL ISSUES
i)The run on Home Capital has now spread to another Canadian Mortgage lender, Equitable Group
( zero hedge)
ii)At the end of today, Apple reported:
They missed on revenue due to declining sales in China. This should have a damper effect on global trading for tomorrow
(courtesy zero hedge)
7. OIL ISSUES
i)Saudi Prince sends crude tumbling below $47.50
( zerohedge)
ii)It now seems that the OPEC production cut deal has backfired as the Saudis lose more market share to Iran and Iraq
( Paraskova/OilPrice.com)
iii)Then at the end of the day we got a surprise drawdown on crude and gasoline and this caused both to rise in price
(courtesy zero hedge)
8. EMERGING MARKETS
9. PHYSICAL MARKETS
i)USA GOLD news and views on gold’s undervaluation
( Mike Kosares/USAGold/GATA)
ii)Data from Switzerland shows that India is now again showing its love for gold having imported 55.6 tonnes in March. They may overtake China as the number one consumer of gold. I would also like to point out that these numbers do not include smuggled gold into India.
(Lawrie Williams/Sharp’s Pixley)
10. USA stories
i)The Republicans are at least one vote shy from failure to repealing Obamacare with many on the sidelines
It looks like it will fail for the 3rd time
( zero hedge)
ii)The hawks in Washington will be visibly upset as the Senate drops the new Russian sanctions bill;
( zero hedge)
iii) trading in NY/30 yr bond yield drops below 3% due to the auto bloodbath!
iv)The auto bloodbath which caused the markets in the uSA to tumble
(courtesy zerohedge)
Let us head over to the comex:
The total gold comex open interest FELL BY 5,451 CONTRACTS DOWN to an OI level of 464,123 WITH THE FALL IN THE PRICE OF GOLD ( $11.80 with YESTERDAY’S trading). The longs still continue to remain stoic as they refused to liquidate any of their contracts despite the constant torment experienced yesterday. However we may have had some banker short covering. We are now in the contract month of MAY and it is one of the POORER delivery months of the year. In this MAY delivery month we had A LOSS OF 17 contract(s) FALLING TO 418. We had 12 notices filed yesterday so we again lost 5 contracts or an additional 500 oz were cash settled through the EFP route where they receive a cash bonus plus a future gold contract.
The next big active month is June/2017 and here the OI LOST 6,381 contracts DOWN to 323,713. The non active July contract gained another 9 contracts to stand at 34 contracts. The next big active month is August and here the OI gained 599 contracts up to 55,254.
We had 8 notice(s) filed upon today for 800 oz
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And now for the wild silver comex results. Total silver OI FELL BY 1,892 contracts FROM 196,015 DOWN to 194,123 WITH YESTERDAY’S 38 CENT PRICE LOSS.
We are in the active delivery month is MAY Here the open interest LOST 574 contracts FALLING TO 1464 contracts. MY GOODNESS!! IT HAPPENED AGAIN!! We had 757 notices filed on SECOND day notice so we gained another 183 notices or an additional 915,000 oz will stand for delivery. In the last few years, I do not believe I have ever seen an active month increase in amount standing on day 2 and day 3 of the delivery cycle. No wonder JPMorgan is getting reading for a physical attack at the comex.
The non active June contract GAINED 203 contracts to stand at 1017. The next big active month will be July and here the OI SURPRISINGLY GAINED 1920 contracts UP to 151,200.
For those keeping score, the initial amount of silver oz that stood for delivery for the May 2016 contract month: 28.01 million oz. By conclusion of the month only 13.58 million oz stood and the rest was cash settled.(EFP ROUTE)
The line in the sand is $18.50 for silver and again it has been defended by the criminal bankers. Once this level is pierced, the monstrous billion oz of silver shorts will blow up. The bankers are defending the Alamo with their last stand at the $18.50 mark. THE NEW RECORD HIGH IN OPEN INTEREST WAS SET FRIDAY APRIL 21/2017 AT: 234,787.
We had 535 notice(s) filed for 2,675,000 oz for the MAY 2017 contract
VOLUMES: for the gold comex
Today the estimated volume was 171,263 contracts which is fair.
Yesterday’s confirmed volume was 209,781 contracts which is good.
volumes on gold are STILL HIGHER THAN NORMAL!
INITIAL standings for MAY
May 2/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
nil oz
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
3,665.214 oz
Brinks
No of oz served (contracts) today
8 notice(s)
800 OZ
No of oz to be served (notices)
410 contracts
41000 oz
Total monthly oz gold served (contracts) so far this month
35 notices
3500 oz
.1088 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 23,338.2 oz
Today we HAD 0 kilobar transaction(s)/
Today we had 0 deposit(s) into the dealer:
total dealer deposits: nil oz
We had NIL dealer withdrawals:
total dealer withdrawals: NIL oz
we had 1 customer deposit(s):
i) Into Brinks: 3,665.214 oz
total customer deposits; 3665.214 oz oz
We had 0 customer withdrawal(s)
total customer withdrawal: nil oz
we had 0 adjustments:
For MAY:
Today, 0 notice(s) were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 8 contract(s) of which 0 notices were stopped (received) by jPMorgan dealer and 0 notice(s) was (were) stopped/ Received) by jPMorgan customer account.
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To calculate the initial total number of gold ounces standing for the MAY. contract month, we take the total number of notices filed so far for the month (35) x 100 oz or 3500 oz, to which we add the difference between the open interest for the front month of MAY (418 contracts) minus the number of notices served upon today (8) x 100 oz per contract equals 44000 oz, the number of ounces standing in this active month of MAY.
Thus the INITIAL standings for gold for the MAY contract month:
No of notices served so far (35) x 100 oz or ounces + {(418)OI for the front month minus the number of notices served upon today (8) x 100 oz which equals 44500 oz standing in this non active delivery month of MAY (1.3841 tonnes). We lost 5 contracts or an additional 1000 oz were cash settled through the EFP route where they received a fiat bonus plus a futures contract in a private deal with the bankers.
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I have now gone over all of the final deliveries for this year and it is startling.
Here are the final deliveries for all of 2016 and the first 5 months of 2017
Jan 2016: .5349 tonnes (Jan is a non delivery month)
Feb 2016: 7.9876 tonnes (Feb is a delivery month/deliveries this month very low)
March 2016: 2.311 tonnes (March is a non delivery month)
April: 12.3917 tonnes (April is a delivery month/levels on the low side
And then something happens and from May forward deliveries boom!
May; 6.889 tonnes (May is a non delivery month)
June; 48.552 tonnes ( June is a very big delivery month and in the end deliveries were huge)
July: 21.452 tonnes (July is a non delivery month and generally a poor one/not this time!)
August: 44.358 tonnes (August is a good delivery month and it came to fruition)
Sept: 8.4167 tonnes (Sept is a non delivery month)
Oct; 30.407 tonnes
Nov. 8.3950 tonnes.
DEC/2016. 29.931 tonnes
JAN/2017 3.9004 tonnes
FEB/ 18.734 tonnes
March: 0.5816 tonnes
April/2017: 2.8678
MAY:2017/ 1.3841 TONNES
total for the 17 months; 249.0226 tonnes
average 14.648 tonnes per month
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Total dealer inventory 914,233.183 or 28.43 tonnes DEALER RAPIDLY LOSING GOLD
Total gold inventory (dealer and customer) = 8,934,663.902 or 277.90 tonnes
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 277.90 tonnes for a loss of 25 tonnes over that period. Since August 8/2016 we have lost 76 tonnes leaving the comex. However I am including kilobar transactions and they are very suspect at best
I have a sneaky feeling that these withdrawals of gold in kilobars are being used in the hypothecating process and are being used in the raiding of gold!
The gold comex is an absolute fraud. The use of kilobars and exact weights makes the data totally absurd and fraudulent! To me, the only thing that makes sense is the fact that “kilobars: are entries of hypothecated gold sent to other jurisdictions so that they will not be short with their underwritten derivatives in that jurisdiction. This would be similar to the rehypothecated gold used by Jon Corzine at MF Global.
IN THE LAST 11 MONTHS 76 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE APRIL DELIVERY MONTH
MAY INITIAL standings
May 2. 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
30,038.200 oz
Scotia
24,852.140 oz
CNT
total: 54,890.340 oz
Deposits to the Dealer Inventory
499,033.580 oz
CNT
Deposits to the Customer Inventory
0 oz
JPMorgan
101,625.287 oz
CNT
998.000 oz ???
Delaware
total: 102,623.287 oz
No of oz served today (contracts)
535 CONTRACT(S)
(2,675,000 OZ)
No of oz to be served (notices)
929 contracts
( 4,645,000 oz)
Total monthly oz silver served (contracts) 2713 contracts (13,565,000 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 1,908,422.1 oz
today, we had 1 deposit(s) into the dealer account:
i) Into CNT: 499,033.58 0z
total dealer deposit: 499,033.58 oz
we had Nil dealer withdrawals:
total dealer withdrawals: nil oz
we had 2 customer withdrawal(s):
i) Out of Scotia: 40,175.02 oz
ii) Out of HSBC: 2,154.610 oz
TOTAL CUSTOMER WITHDRAWALS: 42,329.630 oz
We had 0 Customer deposits:
***deposits into JPMorgan have now stopped for the first time in quite a while.
In the month of March and February, JPMorgan stopped (received) almost all of the comex silver contracts.
why is JPMorgan bringing in so much silver??? why is this not criminal in that they are also the massive short in silver
total customer deposits nil oz
we had 1 adjustment(s)
Out of the CNT vault:
24,865.700 oz was adjusted out of the dealer and this landed into the customer account of CNT
The total number of notices filed today for the MAY. contract month is represented by 535 contract(s) for 2,675,000 oz. To calculate the number of silver ounces that will stand for delivery in MAY., we take the total number of notices filed for the month so far at 2713 x 5,000 oz = 13,565,000 oz to which we add the difference between the open interest for the front month of MAY (1464) and the number of notices served upon today (535) x 5000 oz equals the number of ounces standing
Thus the initial standings for silver for the MAY contract month: 2713(notices served so far)x 5000 oz + OI for front month of APRIL.(1464 ) -number of notices served upon today (535)x 5000 oz equals 18,210,000 oz of silver standing for the MAY contract month.
We actually gained another 183 contracts or an additional 915,000 oz will stand for delivery and again nobody wished to accept an EFP contract for a fiat bonus. It may mean that the entire 18 million oz that is standing wants its physical metal and are willing to take on our bankers. Let us see how this will play out for the rest of the month!! WE HAVE NEVER HAD AN INCREASE IN PHYSICAL AMOUNT SILVER STANDING FOR DELIVERY ON BOTH DAY 2 and day 3 OF THE DELIVERY CYCLE.
Volumes: for silver comex
Today the estimated volume was 64,890 which is excellent
Yesterday’s confirmed volume was 82,633 contracts which is huge
(TODAY’S CONFIRMED. VOLUME OF 82,633 CONTRACTS EQUATES TO 413 MILLION OZ OF SILVER OR 59% 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: 32.506 million (close to record low inventory
Total number of dealer and customer silver: 196.524 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 7.4 percent to NAV usa funds and Negative 7.5% to NAV for Cdn funds!!!!
Percentage of fund in gold 62.0%
Percentage of fund in silver:37.9%
cash .+0.1%( May 2/2017)
2. Sprott silver fund (PSLV): Premium FALLS TO -.37%!!!! NAV (May 2/2017)
3. Sprott gold fund (PHYS): premium to NAV RISES to -0.49% to NAV ( May 2 /2017)
Note: Sprott silver trust back into NEGATIVE territory at -.37% /Sprott physical gold trust is back into NEGATIVE/ territory at -0.49%/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
May 2/no change in inventory at the GLD/Inventory rests at 853.36 tonnes
May 1/ no changes in inventory at the GLD/inventory rests at 853.36 tonnes
April 28/no changes in inventory at the GLD/Inventory rests at 853.36 tonnes
April 27/a small withdrawal of .89 tonnes/Inventory is now at 853.36 tonnes
APRIL 26/we had no changes at the GLD/Inventory rests at 854.25 tonnes
April 25/2017/A WITHDRAWAL OF 5.92 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 854.25 TONNES
April 24/a deposit of 1.48 tonnes of gold into the GLD/inventory rests at 860.17 tonnes
April 21/A DEPOSIT OF 4.44 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 858.69 TONNES
APRIL 20/A WITHDRAWAL OF 6.51 TONNES FROM THE GLD/INVENTORY RESTS AT 854.25 TONNES
April 19/ A DEPOSIT OF 11.84 TONNES INTO THE GLD/INVENTORY RESTS AT 860.76 TONNES
April 18/no changes at the GLD/Inventory remains at 848.92 tonnes
April 17/no changes at the GLD/Inventory remains at 848.92 tonnes
April 13/a deposit of 6.51 tonnes into the GLD/Inventory rests at 848.92 tonnes
this no doubt is a paper deposit/
APRIL 12/no changes in gold inventory at the GLD/Inventory rests at 842.41 tonnes
April 11/a huge deposit of 4.12 tonnes into inventory/Inventory rests at 842.41 tonnes
this would no doubt be a paper gold entry. It would be difficult to find that amount of physical gold.
April 10/1.77 tonnes added into inventory at the GLD/inventory rests at 838.29 tonnes
April 7/a small withdrawal of .28 tonnes from the GLD/Inventory rests at 836.49 tonnes
April 6/no change in gold tonnage at the GLD/Inventory rests at 836.77 tonnes
April 5/no change in gold tonnage at the GLD/Inventory rests at 836.77 tonnes
April 4/no change in gold tonnage at the GLD/Inventory rests at 836.77 tonnes
April 3.2017: a huge deposit of 4.45 tonnes of gold into the GLD/Inventory rests at 836.77 tonnnes
March 31/another withdrawal of 1.19 tonnes of gold inventory fro the GLD/this inventory would no doubt be heading for Shanghai/GLD inventory: 822.32 tonnes
March 30/no changes in gold inventory at the GLD/Inventory rests at 833.51 tonnes
March 29/a withdrawal of 1.78 tonnes of gold out of the GLD/Inventory rests tongith at 833.51 tonnes
March 28/this is good!! A deposit of 2.67 tonnes of gold into the GLD/Inventory rests at 835.29 tonnes.
March 27/no changes in gold inventory at the GLD/Inventory rests at 832.62 tonnes
March 24/another withdrawal of 1.78 tonnes from the GLD/Inventory rests at 832.62 tonnes
March 23/no change in gold inventory at the GLD/Inventory rests at 834.40 tonnes
March 22/no changes in gold inventory at the GLD/Inventory rests at 834.40 tonnes
March 21/a deposit of 4.15 tonnes of gold into the GLD/Inventory rests at 834.40 tonnes
March 20/WE HAD A MASSIVE 6.81 TONNE WITHDRAWAL FROM THE GLD/INVENTORY RESTS AT 830.25 TONNES/THIS GOLD MUST BE ON ITS WAY TO SHANGHAI. WITH GOLD RISING THESE PAST FEW DAYS, IT MAYS NO SENSE WHATSOEVER ON GOLD LIQUIDATION.
March 17/a huge withdrawal of 2.37 tonnes from the GLD/Inventory rests at 837.06 tonnes
March 16/no changes in gold inventory at the GLD/Inventory rests at 839.43 tonnes
March 15/ANOTHER HUGE DEPOSIT OF 4.44 TONNES/inventory rests at 839.43 tonnes
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May 2 /2017/ Inventory rests tonight at 853.36 tonnes
*IN LAST 142 TRADING DAYS: 94.77 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 85 TRADING DAYS: A NET 32,66 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
*FROM FEB 1/2017: A NET 58.00 TONNES HAVE BEEN ADDED.
end
Now the SLV Inventory
May 2/extremely strange again/a huge 3.502 million oz deposit into the SLV despite silver being in the toilet for the past several trading days.
may 1/extremely strange/with silver being walloped these past several days, the inventory rises again by a huge 1.136 million oz/(maybe someone can explain this phenomena??)
April 28/Strange again!! no change in inventory at the SLV/Inventory remains at 330.283 million oz (no liquidation with a drop in silver price??)
April 27.2017/Strange!! no change in inventory at the SLV/Inventory remains at 330.283 million oz (no liquidation???)
APRIL 26/2017/another huge deposit of 2.934 million oz into the SLV/Inventory rests at 330.283 million oz
April 25/a huge deposit of 1.98 million of into inventory/inventory rests at 327.349 million oz/
April 24/no changes in inventory at the SLV/Inventory rests at 325.361 million oz/
April 21/A WITHDRAWAL OF 719,000 OZ OF SILVER AT THE SLV/INVENTORY RESTS AT 325.361 MILLION OZ/
APRIL 20/NO CHANGES IN INVENTORY AT THE SLV/INVENTORY RESTS AT 326.308 MILLION OZ
April 19/a withdrawal of 1.893 million oz/inventory rests at 326.308 million oz/
April 18/no changes in inventory at the SLV/Inventory rests at 328.201 million oz
April 17/no changes in inventory at the SLV/Inventory rests at 328.201 million oz
April 13/no changes in inventory at the SLV/Inventory rests at 328.201 million oz
April 12/no changes in inventory at the SLV/Inventory rests at 328.201 million oz/
April 11/a paper deposit of 11.131 million oz into the SLV/no doubt yesterday’s entry of a withdrawal of 11.231 million oz was in error/328.201 million oz
April 10/ a paper withdrawal of 11.231 million oz of silver from the SLV and this silver was used in the raid today. Inventory rests at 317.231 million oz
April 7./ a withdrawal of 947,000 oz of silver from the SLV/Inventory rests at 328.201 million oz.
April 6/a tiny withdrawal of 136,000 oz of silver from the SLV/Inventory rests at 329.148 million oz
April 5/ a withdrawal of 1.042 million oz from the SLV/Inventory rests at 329.284 million oz
April 4/no change in inventory at the SLV/Inventory rests at 330.326 million oz/
April 3.2017; a withdrawal of 568,000 oz from the SLV/Inventory rests at 330.326
million oz/
March 31/no change in inventory at the SLV/Inventory rests at the SLV/Inventory rests at 330.894 million oz/
March 30/a huge withdrawal of 2.746 million oz from the SLV/inventory rests at 330.894 million oz/
March 29/a deposit of 1.136 million oz into the SLV/Inventory rests at 333.640 million oz
March 28/no changes in inventory at the SLV/Inventory rests at 332.504 million oz/
March 27/no changes in inventory at the SLV/Inventory rests at 332.504 million oz/
March 24/no change in inventory at the SLV/Inventory rests at 332.504 million oz/
March 23/no change in inventory at the SLV/Inventory rests at 332.504 million oz
March 22/no change in inventory at the SLV/Inventory rests at 332.504 million oz
March 21/no change in inventory at the SLV/Inventory rests at 332.504 million oz/
March 20/a gain of 1.232 million oz of silver into the SLV/inventory rests at 332.272 million oz/
March 17/no change in silver inventory/SLV inventory rests at 331.272 million oz
March 16/no changes in silver inventory/SLV inventory rests at 331.272 million oz
March 15/no change in silver inventory/SLV inventory rests at 331.272 million oz
May 2.2017: Inventory 334.921 million oz
http://www.silverdoctors.com/silver/silver-news/something-strange-is-going-on-in-silver-harvey-organ/
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Thanks Harvey & Doc
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MMgys CQs
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Bill Rice Jr.: Silver miners must know their market is rigged but are too afraid to protest
Submitted by cpowell on Wed, 2017-05-03 01:49. Section: Daily Dispatches
By Bill Rice Jr.
Tuesday, May 2, 2107
As silver is again being pushed down hard and good for no market-related reason, I can't help but wonder what the mining company executives are thinking. One thing we know. They won't protest. Two reasons are typically given for this "grin and bear it' attitude:
1) The bullion banks doing the rigging also provide the miners' much-needed financing. The miners can't get on the wrong side of these guys.
2) Governments supporting the rigging also can harm mining companies in any number of ways, such as permitting, environmental regulations, OSHA-type violations, audits, etc.
I've come to believe that the miners know that their markets are rigged but they are simply afraid to protest this. They fear retaliation.
Now think about this. If my assumption is accurate, the miners know that these two groups are suppressing the price of their product. They also know that they can't say anything. If they do, one or both of these groups will come after them. Is this not an acknowledgment that manipulation is taking place? That is, if the miners did not fear such retaliation, would they not be screaming bloody murder?
They can't blame the banks or the government because the banks and the government could put them out of business.
Another way of stating this is the miners know that manipulation is important to the bullion banks and to governments. The miners know that they should not do anything that would interfere with a program so important to these groups. In their view, challenging such entities would probably be the equivalent of committing corporate suicide.
Summarizing: There are two common-sense reasons given for the miners' refusal to defend themselves. Both involve fear of reprisal/retaliation. Miners cannot attack governments or bullion banks without great risk of harm to their companies. Miners are not unlike the shop owner paying tribute to the Mafia in a city whose justice system is controlled by the Mafia.
The governments and the bullion banks are bullies who threaten the existence of anyone who might challenge their goals or call them out.
This, I believe, is the unspoken secret of the manipulation. Of course the miners know who is working against the interest of their employees and shareholders. They are simply afraid of them. And, probably, rightly so (a frightening acknowledgement of the Mafia-type tactics powerful and "honorable" players in our system are willing to employ, or at least tacitly threaten.)
Also, as top managers of mining companies are paid very well, they have even less of an incentive to take a chance and fight back. These people live very comfortably even as the price of their product is kept lower than it would be in a free market.
Of course, the bullion banks and the agents of government orchestrating the manipulation know that the mining companies fear them and will not say a word.
The mainstream news organizations aren't going to write anything. The politicians aren't going to hold any hearings. The regulators know to look the other way. The miners themselves aren't going to utter a word in protest. The bullion banks and governments manipulation the monetary metals markets simply because they can.They have seemingly covered all their bases. All the potential threats to this operation have neutralized.
-----
Bill Rice, Jr. is a freelance journalist in Montgomery, Alabama. He has been publisher and managing editor of newspapers in Troy and Montgomery, Alabama, and has written many commentaries for precious metal internet sites.
http://www.gata.org/node/17338
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Thanks GATA
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.jpg)
Good Morning
MMgys CQs
Coffee ?
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The TF Metals Report's Craig Hemke today reminds investors that if they play in the silver futures market against bullion banks that can create infinite imaginary supply of the monetary metal, they are going to lose, and though the market is rigged, government regulators are not going to do anything about it. Hemke's analysis is headlined "Comex Crime Scene Mechanics" and it's posted at the TF Metals Report here:
https://www.tfmetalsreport.com/blog/8313/comex-crime-scene-mechanics
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Something STRANGE Is Going On In Silver! – Harvey Organ
Posted on May 2, 2017 by The Doc
SOMETHING EXTREMELY STRANGE:
SLV INVENTORY RISES BY 3.50 MILLION OZ TO 334.991 MILLION OZ/BOTH GOLD AND SILVER RISE: GOLD UP $1.80 AND SILVER IS UP 1 CENT/THE AMOUNT OF SILVER STANDING AT THE COMEX RISES AGAIN BY 920, 000 OZ/CHINA ANGRY AT THE DEPLOYMENT OF THE ANTI THAAD MISSILES IN SOUTH KOREA/TRUMP AND PUTIN TALK AND AGREE TO MEET IN JULY AND THEY BOTH ASK FOR RESTRAINT WITH RESPECT TO NORTH KOREA AND SYRIA/THE EU WILL ASK THE UK FOR 100 BILLION EUROS FOR BREAKING AWAY FROM THE UNION/AIR ALITALIA IN BANKRUPTCY PROTECTION AND MAY BE LIQUIDATED: A HUGE HIT TO ITALY’S GDP/APPLE DISAPPOINTS/BLOODBATH IN THE AUTO SECTOR
Gold: $1255.10 UP 1.80
Silver: $16.83 up 1 cent(s)
Closing access prices:
Gold $1256.90
silver: $16.83!!!
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
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: $1268.32 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: 1257.25
PREMIUM FIRST FIX: $11.07
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SECOND SHANGHAI GOLD FIX: $1266.95
NY GOLD PRICE AT THE EXACT SAME TIME: 1255.80
Premium of Shanghai 2nd fix/NY:$11.15
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LONDON FIRST GOLD FIX: 5:30 am est $1255.80
NY PRICING AT THE EXACT SAME TIME: $1255.10
LONDON SECOND GOLD FIX 10 AM: $1255.45
NY PRICING AT THE EXACT SAME TIME. $1254.85
For comex gold:
MAY/
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 8 NOTICE(S) FOR 800 OZ.
TOTAL NOTICES SO FAR: 35 FOR 3500 OZ (.1088 TONNES)
For silver:
For silver: MAY
535 NOTICES FILED TODAY FOR 2,675,000 OZ/
Total number of notices filed so far this month: 2713 for 13,565,000 oz
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FEDERAL RESERVE EAR MARKED GOLD REPORT for April
In Feb we had $7,841,000 worth of gold housed at the FRBNY valued at 42.21 dollars per oz
Last month: we had the same; $7,841,000 of gold valued at 42.21
thus 0 oz of gold moved out.
END
The key event today is the rising amount of silver that is standing for metal at the comex. It has now risen above what was standing on day one, April 30. On that day 16.8 million oz stood for delivery and for two consecutive days it has risen to close to 18.2 million oz. We have not seen that before.
Let us have a look at the data for today
.
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In silver, the total open interest FELL BY ONLY 1892 contracts DOWN to 194,123 WITH THE LOSS IN PRICE ( 38 CENTS) SILVER TOOK WITH RESPECT TO YESTERDAY’S TRADING. FOR THE PAST FEW YEARS WE HAVE NOTICED THAT THE OPEN INTEREST IN AN ACTIVE MONTH COLLAPSES AS WE APPROACH FIRST DAY NOTICE. WE NOW KNOW THAT THE MAJORITY OF THE LIQUIDATION RECEIVE AN EFP CONTRACT IN A FUTURE MONTH PLUS FIAT BONUS. WE HAVE BEEN WITNESSING THIS SAME PATTERN NOW FOR AT LEAST THE LAST COUPLE OF YEARS. In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.970 BILLION TO BE EXACT or 142% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 535 NOTICE(S) FOR 2,713,000 OZ OF SILVER
In gold, the total comex gold FELL BY 5,451 contracts WITH THE FALL IN THE PRICE OF GOLD ($11.80 with YESTERDAY’S TRADING). The total gold OI stands at 465,336 contracts.
we had 8 notice(s) filed upon for 800 oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD:
We had no changes in tonnes of gold at the GLD:
Inventory rests tonight: 853.36 tonnes
.
SLV
Strange!!! We had another huge change in silver inventory at the SLV today..a massive deposit of 3,502 million oz with silver in the doldrums these past few days??????)
THE SLV Inventory rests at: 334.921 million oz
end
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver FELL BY ONLY 1,892 contracts DOWN TO 194,123, (AND NOW FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21 AT 234,787), WITH THE FALL IN PRICE FOR SILVER ON FRIDAY (38 CENTS). It sure looks like we are witnessing the power of that obscure EFP contract. For the past few years, strangely we have seen the open interest collapse as we enter first day notice. The EFP allows the longs to liquidate his delivery contract month for a fiat bonus and the receipt of a future contract month once first day notice has occurred.
(report Harvey
.
2.a) The Shanghai and London gold fix report
(Harvey)
2 b) Gold/silver trading overnight Europe, Goldcore
(Mark O’Byrne/zerohedge
and in NY: Bloomberg
2c) Federal Reserve Bank ear marked gold movement
(Harvey)
3. ASIAN AFFAIRS
i)Late MONDAY night/TUESDAY morning: Shanghai closed DOWN 10.95 POINTS OR .35% OR / /Hang Sang CLOSED UP 81.00 PONTS OR .33% . The Nikkei closed UP 135.18 OR 0.70% /Australia’s all ordinaires CLOSED DOWN .08%/Chinese yuan (ONSHORE) closed DOWN at 6.8953/Oil UP to 49.25 dollars per barrel for WTI and 52.03 for Brent. Stocks in Europe OPENED IN THE GREEN ..Offshore yuan trades 6.8920 yuan to the dollar vs 6.8953 for onshore yuan. NOW THE OFFSHORE IS A LITTLE WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN SLIGHTLY WEAKER (TO THE DOLLAR) AND THE OFFSHORE YUAN A LITTLE STRONGER TO THE DOLLAR AND THIS IS COUPLED WITH THE WEAKER DOLLAR. CHINA IS HAPPY
3a)THAILAND/SOUTH KOREA/NORTH KOREA
i)NORTH KOREA
More rhetoric from Kim as he is furious after the USA and Sout Korea deployed lancer bombers in war exercises conducted off the Korean peninsula
( zero hedge)
b) REPORT ON JAPAN
c) REPORT ON CHINA
i)CHINA/SOUTH KOREA/USA
China angry at the USA deployment of the THAAD anti missile defense system in South Korea. They warned of consequences
( zero hedge)
ii)NORTH KOREA//CHINA
China unleash an oil embargo on North Korea which would cripple the country:
(Calcuttawala/OilPrice.com)
4. EUROPEAN AFFAIRS
i)ITALY/Air Alitalia
It does not look good for Itays national carrier as they have filed for bankruptcy protection for the 2nd time in 9 years. Nobody is setting up to the plate to provide financing for the airline
( zero hedge)
ib)The Italian Government approves the Alitalia bankruptcy as it bonds collapse into the teens. A complete liquidation will cause 12,000 people to lose their jobs as well as a big hit the Italy’s GDP
this will be a continuing story..
(courtesy zero hedge)
ii)GREECE
Greece is going to be raped some more as they settle for more austerity measures in return for bailout money. Why they do not leave the EU is beyond me!
(zero hedge)
iii)GERMANY
Non Germans make up 10% of the population yet they account for 30.5% of all crimes in the country in 2016
( Kern/Gatestone Institute)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
Russia/USA
Putin and Trump hold their phone call and both are asking for restraint in dealing with Syria and North Korea;
( zero hedge)
6 .GLOBAL ISSUES
i)The run on Home Capital has now spread to another Canadian Mortgage lender, Equitable Group
( zero hedge)
ii)At the end of today, Apple reported:
They missed on revenue due to declining sales in China. This should have a damper effect on global trading for tomorrow
(courtesy zero hedge)
7. OIL ISSUES
i)Saudi Prince sends crude tumbling below $47.50
( zerohedge)
ii)It now seems that the OPEC production cut deal has backfired as the Saudis lose more market share to Iran and Iraq
( Paraskova/OilPrice.com)
iii)Then at the end of the day we got a surprise drawdown on crude and gasoline and this caused both to rise in price
(courtesy zero hedge)
8. EMERGING MARKETS
9. PHYSICAL MARKETS
i)USA GOLD news and views on gold’s undervaluation
( Mike Kosares/USAGold/GATA)
ii)Data from Switzerland shows that India is now again showing its love for gold having imported 55.6 tonnes in March. They may overtake China as the number one consumer of gold. I would also like to point out that these numbers do not include smuggled gold into India.
(Lawrie Williams/Sharp’s Pixley)
10. USA stories
i)The Republicans are at least one vote shy from failure to repealing Obamacare with many on the sidelines
It looks like it will fail for the 3rd time
( zero hedge)
ii)The hawks in Washington will be visibly upset as the Senate drops the new Russian sanctions bill;
( zero hedge)
iii) trading in NY/30 yr bond yield drops below 3% due to the auto bloodbath!
iv)The auto bloodbath which caused the markets in the uSA to tumble
(courtesy zerohedge)
Let us head over to the comex:
The total gold comex open interest FELL BY 5,451 CONTRACTS DOWN to an OI level of 464,123 WITH THE FALL IN THE PRICE OF GOLD ( $11.80 with YESTERDAY’S trading). The longs still continue to remain stoic as they refused to liquidate any of their contracts despite the constant torment experienced yesterday. However we may have had some banker short covering. We are now in the contract month of MAY and it is one of the POORER delivery months of the year. In this MAY delivery month we had A LOSS OF 17 contract(s) FALLING TO 418. We had 12 notices filed yesterday so we again lost 5 contracts or an additional 500 oz were cash settled through the EFP route where they receive a cash bonus plus a future gold contract.
The next big active month is June/2017 and here the OI LOST 6,381 contracts DOWN to 323,713. The non active July contract gained another 9 contracts to stand at 34 contracts. The next big active month is August and here the OI gained 599 contracts up to 55,254.
We had 8 notice(s) filed upon today for 800 oz
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And now for the wild silver comex results. Total silver OI FELL BY 1,892 contracts FROM 196,015 DOWN to 194,123 WITH YESTERDAY’S 38 CENT PRICE LOSS.
We are in the active delivery month is MAY Here the open interest LOST 574 contracts FALLING TO 1464 contracts. MY GOODNESS!! IT HAPPENED AGAIN!! We had 757 notices filed on SECOND day notice so we gained another 183 notices or an additional 915,000 oz will stand for delivery. In the last few years, I do not believe I have ever seen an active month increase in amount standing on day 2 and day 3 of the delivery cycle. No wonder JPMorgan is getting reading for a physical attack at the comex.
The non active June contract GAINED 203 contracts to stand at 1017. The next big active month will be July and here the OI SURPRISINGLY GAINED 1920 contracts UP to 151,200.
For those keeping score, the initial amount of silver oz that stood for delivery for the May 2016 contract month: 28.01 million oz. By conclusion of the month only 13.58 million oz stood and the rest was cash settled.(EFP ROUTE)
The line in the sand is $18.50 for silver and again it has been defended by the criminal bankers. Once this level is pierced, the monstrous billion oz of silver shorts will blow up. The bankers are defending the Alamo with their last stand at the $18.50 mark. THE NEW RECORD HIGH IN OPEN INTEREST WAS SET FRIDAY APRIL 21/2017 AT: 234,787.
We had 535 notice(s) filed for 2,675,000 oz for the MAY 2017 contract
VOLUMES: for the gold comex
Today the estimated volume was 171,263 contracts which is fair.
Yesterday’s confirmed volume was 209,781 contracts which is good.
volumes on gold are STILL HIGHER THAN NORMAL!
INITIAL standings for MAY
May 2/2017.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz
nil oz
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
3,665.214 oz
Brinks
No of oz served (contracts) today
8 notice(s)
800 OZ
No of oz to be served (notices)
410 contracts
41000 oz
Total monthly oz gold served (contracts) so far this month
35 notices
3500 oz
.1088 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 23,338.2 oz
Today we HAD 0 kilobar transaction(s)/
Today we had 0 deposit(s) into the dealer:
total dealer deposits: nil oz
We had NIL dealer withdrawals:
total dealer withdrawals: NIL oz
we had 1 customer deposit(s):
i) Into Brinks: 3,665.214 oz
total customer deposits; 3665.214 oz oz
We had 0 customer withdrawal(s)
total customer withdrawal: nil oz
we had 0 adjustments:
For MAY:
Today, 0 notice(s) were issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 8 contract(s) of which 0 notices were stopped (received) by jPMorgan dealer and 0 notice(s) was (were) stopped/ Received) by jPMorgan customer account.
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To calculate the initial total number of gold ounces standing for the MAY. contract month, we take the total number of notices filed so far for the month (35) x 100 oz or 3500 oz, to which we add the difference between the open interest for the front month of MAY (418 contracts) minus the number of notices served upon today (8) x 100 oz per contract equals 44000 oz, the number of ounces standing in this active month of MAY.
Thus the INITIAL standings for gold for the MAY contract month:
No of notices served so far (35) x 100 oz or ounces + {(418)OI for the front month minus the number of notices served upon today (8) x 100 oz which equals 44500 oz standing in this non active delivery month of MAY (1.3841 tonnes). We lost 5 contracts or an additional 1000 oz were cash settled through the EFP route where they received a fiat bonus plus a futures contract in a private deal with the bankers.
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I have now gone over all of the final deliveries for this year and it is startling.
Here are the final deliveries for all of 2016 and the first 5 months of 2017
Jan 2016: .5349 tonnes (Jan is a non delivery month)
Feb 2016: 7.9876 tonnes (Feb is a delivery month/deliveries this month very low)
March 2016: 2.311 tonnes (March is a non delivery month)
April: 12.3917 tonnes (April is a delivery month/levels on the low side
And then something happens and from May forward deliveries boom!
May; 6.889 tonnes (May is a non delivery month)
June; 48.552 tonnes ( June is a very big delivery month and in the end deliveries were huge)
July: 21.452 tonnes (July is a non delivery month and generally a poor one/not this time!)
August: 44.358 tonnes (August is a good delivery month and it came to fruition)
Sept: 8.4167 tonnes (Sept is a non delivery month)
Oct; 30.407 tonnes
Nov. 8.3950 tonnes.
DEC/2016. 29.931 tonnes
JAN/2017 3.9004 tonnes
FEB/ 18.734 tonnes
March: 0.5816 tonnes
April/2017: 2.8678
MAY:2017/ 1.3841 TONNES
total for the 17 months; 249.0226 tonnes
average 14.648 tonnes per month
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Total dealer inventory 914,233.183 or 28.43 tonnes DEALER RAPIDLY LOSING GOLD
Total gold inventory (dealer and customer) = 8,934,663.902 or 277.90 tonnes
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 277.90 tonnes for a loss of 25 tonnes over that period. Since August 8/2016 we have lost 76 tonnes leaving the comex. However I am including kilobar transactions and they are very suspect at best
I have a sneaky feeling that these withdrawals of gold in kilobars are being used in the hypothecating process and are being used in the raiding of gold!
The gold comex is an absolute fraud. The use of kilobars and exact weights makes the data totally absurd and fraudulent! To me, the only thing that makes sense is the fact that “kilobars: are entries of hypothecated gold sent to other jurisdictions so that they will not be short with their underwritten derivatives in that jurisdiction. This would be similar to the rehypothecated gold used by Jon Corzine at MF Global.
IN THE LAST 11 MONTHS 76 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE APRIL DELIVERY MONTH
MAY INITIAL standings
May 2. 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
30,038.200 oz
Scotia
24,852.140 oz
CNT
total: 54,890.340 oz
Deposits to the Dealer Inventory
499,033.580 oz
CNT
Deposits to the Customer Inventory
0 oz
JPMorgan
101,625.287 oz
CNT
998.000 oz ???
Delaware
total: 102,623.287 oz
No of oz served today (contracts)
535 CONTRACT(S)
(2,675,000 OZ)
No of oz to be served (notices)
929 contracts
( 4,645,000 oz)
Total monthly oz silver served (contracts) 2713 contracts (13,565,000 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 1,908,422.1 oz
today, we had 1 deposit(s) into the dealer account:
i) Into CNT: 499,033.58 0z
total dealer deposit: 499,033.58 oz
we had Nil dealer withdrawals:
total dealer withdrawals: nil oz
we had 2 customer withdrawal(s):
i) Out of Scotia: 40,175.02 oz
ii) Out of HSBC: 2,154.610 oz
TOTAL CUSTOMER WITHDRAWALS: 42,329.630 oz
We had 0 Customer deposits:
***deposits into JPMorgan have now stopped for the first time in quite a while.
In the month of March and February, JPMorgan stopped (received) almost all of the comex silver contracts.
why is JPMorgan bringing in so much silver??? why is this not criminal in that they are also the massive short in silver
total customer deposits nil oz
we had 1 adjustment(s)
Out of the CNT vault:
24,865.700 oz was adjusted out of the dealer and this landed into the customer account of CNT
The total number of notices filed today for the MAY. contract month is represented by 535 contract(s) for 2,675,000 oz. To calculate the number of silver ounces that will stand for delivery in MAY., we take the total number of notices filed for the month so far at 2713 x 5,000 oz = 13,565,000 oz to which we add the difference between the open interest for the front month of MAY (1464) and the number of notices served upon today (535) x 5000 oz equals the number of ounces standing
Thus the initial standings for silver for the MAY contract month: 2713(notices served so far)x 5000 oz + OI for front month of APRIL.(1464 ) -number of notices served upon today (535)x 5000 oz equals 18,210,000 oz of silver standing for the MAY contract month.
We actually gained another 183 contracts or an additional 915,000 oz will stand for delivery and again nobody wished to accept an EFP contract for a fiat bonus. It may mean that the entire 18 million oz that is standing wants its physical metal and are willing to take on our bankers. Let us see how this will play out for the rest of the month!! WE HAVE NEVER HAD AN INCREASE IN PHYSICAL AMOUNT SILVER STANDING FOR DELIVERY ON BOTH DAY 2 and day 3 OF THE DELIVERY CYCLE.
Volumes: for silver comex
Today the estimated volume was 64,890 which is excellent
Yesterday’s confirmed volume was 82,633 contracts which is huge
(TODAY’S CONFIRMED. VOLUME OF 82,633 CONTRACTS EQUATES TO 413 MILLION OZ OF SILVER OR 59% 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: 32.506 million (close to record low inventory
Total number of dealer and customer silver: 196.524 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 7.4 percent to NAV usa funds and Negative 7.5% to NAV for Cdn funds!!!!
Percentage of fund in gold 62.0%
Percentage of fund in silver:37.9%
cash .+0.1%( May 2/2017)
2. Sprott silver fund (PSLV): Premium FALLS TO -.37%!!!! NAV (May 2/2017)
3. Sprott gold fund (PHYS): premium to NAV RISES to -0.49% to NAV ( May 2 /2017)
Note: Sprott silver trust back into NEGATIVE territory at -.37% /Sprott physical gold trust is back into NEGATIVE/ territory at -0.49%/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
May 2/no change in inventory at the GLD/Inventory rests at 853.36 tonnes
May 1/ no changes in inventory at the GLD/inventory rests at 853.36 tonnes
April 28/no changes in inventory at the GLD/Inventory rests at 853.36 tonnes
April 27/a small withdrawal of .89 tonnes/Inventory is now at 853.36 tonnes
APRIL 26/we had no changes at the GLD/Inventory rests at 854.25 tonnes
April 25/2017/A WITHDRAWAL OF 5.92 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 854.25 TONNES
April 24/a deposit of 1.48 tonnes of gold into the GLD/inventory rests at 860.17 tonnes
April 21/A DEPOSIT OF 4.44 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 858.69 TONNES
APRIL 20/A WITHDRAWAL OF 6.51 TONNES FROM THE GLD/INVENTORY RESTS AT 854.25 TONNES
April 19/ A DEPOSIT OF 11.84 TONNES INTO THE GLD/INVENTORY RESTS AT 860.76 TONNES
April 18/no changes at the GLD/Inventory remains at 848.92 tonnes
April 17/no changes at the GLD/Inventory remains at 848.92 tonnes
April 13/a deposit of 6.51 tonnes into the GLD/Inventory rests at 848.92 tonnes
this no doubt is a paper deposit/
APRIL 12/no changes in gold inventory at the GLD/Inventory rests at 842.41 tonnes
April 11/a huge deposit of 4.12 tonnes into inventory/Inventory rests at 842.41 tonnes
this would no doubt be a paper gold entry. It would be difficult to find that amount of physical gold.
April 10/1.77 tonnes added into inventory at the GLD/inventory rests at 838.29 tonnes
April 7/a small withdrawal of .28 tonnes from the GLD/Inventory rests at 836.49 tonnes
April 6/no change in gold tonnage at the GLD/Inventory rests at 836.77 tonnes
April 5/no change in gold tonnage at the GLD/Inventory rests at 836.77 tonnes
April 4/no change in gold tonnage at the GLD/Inventory rests at 836.77 tonnes
April 3.2017: a huge deposit of 4.45 tonnes of gold into the GLD/Inventory rests at 836.77 tonnnes
March 31/another withdrawal of 1.19 tonnes of gold inventory fro the GLD/this inventory would no doubt be heading for Shanghai/GLD inventory: 822.32 tonnes
March 30/no changes in gold inventory at the GLD/Inventory rests at 833.51 tonnes
March 29/a withdrawal of 1.78 tonnes of gold out of the GLD/Inventory rests tongith at 833.51 tonnes
March 28/this is good!! A deposit of 2.67 tonnes of gold into the GLD/Inventory rests at 835.29 tonnes.
March 27/no changes in gold inventory at the GLD/Inventory rests at 832.62 tonnes
March 24/another withdrawal of 1.78 tonnes from the GLD/Inventory rests at 832.62 tonnes
March 23/no change in gold inventory at the GLD/Inventory rests at 834.40 tonnes
March 22/no changes in gold inventory at the GLD/Inventory rests at 834.40 tonnes
March 21/a deposit of 4.15 tonnes of gold into the GLD/Inventory rests at 834.40 tonnes
March 20/WE HAD A MASSIVE 6.81 TONNE WITHDRAWAL FROM THE GLD/INVENTORY RESTS AT 830.25 TONNES/THIS GOLD MUST BE ON ITS WAY TO SHANGHAI. WITH GOLD RISING THESE PAST FEW DAYS, IT MAYS NO SENSE WHATSOEVER ON GOLD LIQUIDATION.
March 17/a huge withdrawal of 2.37 tonnes from the GLD/Inventory rests at 837.06 tonnes
March 16/no changes in gold inventory at the GLD/Inventory rests at 839.43 tonnes
March 15/ANOTHER HUGE DEPOSIT OF 4.44 TONNES/inventory rests at 839.43 tonnes
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May 2 /2017/ Inventory rests tonight at 853.36 tonnes
*IN LAST 142 TRADING DAYS: 94.77 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 85 TRADING DAYS: A NET 32,66 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
*FROM FEB 1/2017: A NET 58.00 TONNES HAVE BEEN ADDED.
end
Now the SLV Inventory
May 2/extremely strange again/a huge 3.502 million oz deposit into the SLV despite silver being in the toilet for the past several trading days.
may 1/extremely strange/with silver being walloped these past several days, the inventory rises again by a huge 1.136 million oz/(maybe someone can explain this phenomena??)
April 28/Strange again!! no change in inventory at the SLV/Inventory remains at 330.283 million oz (no liquidation with a drop in silver price??)
April 27.2017/Strange!! no change in inventory at the SLV/Inventory remains at 330.283 million oz (no liquidation???)
APRIL 26/2017/another huge deposit of 2.934 million oz into the SLV/Inventory rests at 330.283 million oz
April 25/a huge deposit of 1.98 million of into inventory/inventory rests at 327.349 million oz/
April 24/no changes in inventory at the SLV/Inventory rests at 325.361 million oz/
April 21/A WITHDRAWAL OF 719,000 OZ OF SILVER AT THE SLV/INVENTORY RESTS AT 325.361 MILLION OZ/
APRIL 20/NO CHANGES IN INVENTORY AT THE SLV/INVENTORY RESTS AT 326.308 MILLION OZ
April 19/a withdrawal of 1.893 million oz/inventory rests at 326.308 million oz/
April 18/no changes in inventory at the SLV/Inventory rests at 328.201 million oz
April 17/no changes in inventory at the SLV/Inventory rests at 328.201 million oz
April 13/no changes in inventory at the SLV/Inventory rests at 328.201 million oz
April 12/no changes in inventory at the SLV/Inventory rests at 328.201 million oz/
April 11/a paper deposit of 11.131 million oz into the SLV/no doubt yesterday’s entry of a withdrawal of 11.231 million oz was in error/328.201 million oz
April 10/ a paper withdrawal of 11.231 million oz of silver from the SLV and this silver was used in the raid today. Inventory rests at 317.231 million oz
April 7./ a withdrawal of 947,000 oz of silver from the SLV/Inventory rests at 328.201 million oz.
April 6/a tiny withdrawal of 136,000 oz of silver from the SLV/Inventory rests at 329.148 million oz
April 5/ a withdrawal of 1.042 million oz from the SLV/Inventory rests at 329.284 million oz
April 4/no change in inventory at the SLV/Inventory rests at 330.326 million oz/
April 3.2017; a withdrawal of 568,000 oz from the SLV/Inventory rests at 330.326
million oz/
March 31/no change in inventory at the SLV/Inventory rests at the SLV/Inventory rests at 330.894 million oz/
March 30/a huge withdrawal of 2.746 million oz from the SLV/inventory rests at 330.894 million oz/
March 29/a deposit of 1.136 million oz into the SLV/Inventory rests at 333.640 million oz
March 28/no changes in inventory at the SLV/Inventory rests at 332.504 million oz/
March 27/no changes in inventory at the SLV/Inventory rests at 332.504 million oz/
March 24/no change in inventory at the SLV/Inventory rests at 332.504 million oz/
March 23/no change in inventory at the SLV/Inventory rests at 332.504 million oz
March 22/no change in inventory at the SLV/Inventory rests at 332.504 million oz
March 21/no change in inventory at the SLV/Inventory rests at 332.504 million oz/
March 20/a gain of 1.232 million oz of silver into the SLV/inventory rests at 332.272 million oz/
March 17/no change in silver inventory/SLV inventory rests at 331.272 million oz
March 16/no changes in silver inventory/SLV inventory rests at 331.272 million oz
March 15/no change in silver inventory/SLV inventory rests at 331.272 million oz
May 2.2017: Inventory 334.921 million oz
http://www.silverdoctors.com/silver/silver-news/something-strange-is-going-on-in-silver-harvey-organ/
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Thanks Harvey & Doc
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MMgys CQs
Have a Wonderful Day
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Bill Rice Jr.: Silver miners must know their market is rigged but are too afraid to protest
Submitted by cpowell on Wed, 2017-05-03 01:49. Section: Daily Dispatches
By Bill Rice Jr.
Tuesday, May 2, 2107
As silver is again being pushed down hard and good for no market-related reason, I can't help but wonder what the mining company executives are thinking. One thing we know. They won't protest. Two reasons are typically given for this "grin and bear it' attitude:
1) The bullion banks doing the rigging also provide the miners' much-needed financing. The miners can't get on the wrong side of these guys.
2) Governments supporting the rigging also can harm mining companies in any number of ways, such as permitting, environmental regulations, OSHA-type violations, audits, etc.
I've come to believe that the miners know that their markets are rigged but they are simply afraid to protest this. They fear retaliation.
Now think about this. If my assumption is accurate, the miners know that these two groups are suppressing the price of their product. They also know that they can't say anything. If they do, one or both of these groups will come after them. Is this not an acknowledgment that manipulation is taking place? That is, if the miners did not fear such retaliation, would they not be screaming bloody murder?
They can't blame the banks or the government because the banks and the government could put them out of business.
Another way of stating this is the miners know that manipulation is important to the bullion banks and to governments. The miners know that they should not do anything that would interfere with a program so important to these groups. In their view, challenging such entities would probably be the equivalent of committing corporate suicide.
Summarizing: There are two common-sense reasons given for the miners' refusal to defend themselves. Both involve fear of reprisal/retaliation. Miners cannot attack governments or bullion banks without great risk of harm to their companies. Miners are not unlike the shop owner paying tribute to the Mafia in a city whose justice system is controlled by the Mafia.
The governments and the bullion banks are bullies who threaten the existence of anyone who might challenge their goals or call them out.
This, I believe, is the unspoken secret of the manipulation. Of course the miners know who is working against the interest of their employees and shareholders. They are simply afraid of them. And, probably, rightly so (a frightening acknowledgement of the Mafia-type tactics powerful and "honorable" players in our system are willing to employ, or at least tacitly threaten.)
Also, as top managers of mining companies are paid very well, they have even less of an incentive to take a chance and fight back. These people live very comfortably even as the price of their product is kept lower than it would be in a free market.
Of course, the bullion banks and the agents of government orchestrating the manipulation know that the mining companies fear them and will not say a word.
The mainstream news organizations aren't going to write anything. The politicians aren't going to hold any hearings. The regulators know to look the other way. The miners themselves aren't going to utter a word in protest. The bullion banks and governments manipulation the monetary metals markets simply because they can.They have seemingly covered all their bases. All the potential threats to this operation have neutralized.
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Bill Rice, Jr. is a freelance journalist in Montgomery, Alabama. He has been publisher and managing editor of newspapers in Troy and Montgomery, Alabama, and has written many commentaries for precious metal internet sites.
http://www.gata.org/node/17338
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Thanks GATA
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