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JD400 Member Level  Sunday, 06/04/17 12:08:01 AM
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Just Stuff

Good Morning Ladies & Gentleman


~Welcome To



~*~Mining & Metals Du Jour~*~ Graveyard Shift~

MMgys gys CQs


Hope Your Having A Wonderful Weekend !

Here's tonights Rainy Data & COT & other Great Stuff it's the long weekend version

Lots of Good reads On The Board Below Make Sure And Check them Out I loved them Thanks Everybody

and

Thanks Again <3

Stackers

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Monetary metals market rigger learned how to do it at Deutsche Bank
Submitted by cpowell on Fri, 2017-06-02 15:56. Section: Documentation

Trader in Spoofing Case May Be Tied to Deutsche Bank

By Tom Schoenberg
Bloomberg News
Friday, June 2, 2017

A trader who admitted Thursday to conspiring to manipulate futures contracts in precious metals committed those actions while working at Deutsche Bank AG, according to a person familiar with the matter.

The trader, David Liew, pleaded guilty in federal court in Chicago to a fraud conspiracy over the spoofing of futures contracts for gold, silver, platinum, and palladium futures, according to court papers. Along with spoofing -- which is placing orders without the intent of executing them in an attempt to manipulate the price -- he acknowledged front-running customers' orders.


The matter indicates more potential trouble for Deutsche Bank as it attempts to shake the financial and reputational drag of more than a half-dozen settlements in recent years with U.S. authorities over wrongdoing. The documents state that Liew worked on his own but also with at least three other traders at the bank hundreds of times in coordinated spoofing. Liew admitted that he learned spoofing practices from others at Deutsche Bank. Because Liew is cooperating with the investigation, prosecutors examining the metals market could take action against other traders at Deutsche Bank. ...

The case against Liew also provides the deepest insights yet into a federal criminal investigation of whether traders at some of the world's biggest banks conspired to manipulate prices in precious-metals markets. Liew's cooperation, and allegations that he conspired with a trader at another global bank, suggests that prosecutors continue to press forward with the probe. ...

Liew joined the bank in July 2009 after receiving his bachelor's degree as part of the bank's global analyst program, according to the court documents. Later that year he was installed at the bank's metals trading desk in the Asia-Pacific region.

Until February 2012 Liew worked with other traders at the bank to rig precious metals futures by transmitting orders to the Chicago Mercantile Exchange that they never intended to fill, according to the court papers.

Liew and the conspirators sought to create a false sense of supply or demand in order to cause other market participants to react and drive the price of precious metals futures contracts down or up or artificially increase the number of participants willing to transact at the existing price, according to the plea agreement. Liew and his conspirators could profit or mitigate losses by executing their positions before the spoof order, the agreement states.

On one occasion, Liew and his colleagues initiated transactions after getting information about a large metals trade to be executed for a customer of the bank "in an effort to benefit improperly from the anticipated movement in price that would result from the execution of the customer's trade," according to the court filing.

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2017-06-02/trader-pleading-guilt...

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San Fran Fed prez urges more comprehensive market rigging


Submitted by cpowell on Sun, 2017-06-04 01:53. Section: Daily Dispatches

There's a New Way to Control Inflation

By Peter Coy
Bloomberg News
Saturday, June 3, 2017

The Federal Reserve would never get a medal in archery. Since January 2012, when it publicly adopted a target of 2 percent for annual inflation, it has undershot in 59 of 63 months. John Williams, president of the Federal Reserve Bank of San Francisco, believes there's a way to help the institution improve its aim.

The Fed would still try to keep prices rising at 2 percent a year, but if it fell short one year, it wouldn't just try harder to hit 2 percent the next year, as it does now. Instead, it would try to jack inflation above 2 percent temporarily to get back on track. The Fed would be like the driver of a car who makes up for getting stuck in traffic by speeding up—or slows down when she realizes she’s gotten ahead of her intended pace.

Williams laid out the justification for what he calls "flexible price-level targeting" in a speech in New York on May 5 to a group called the Shadow Open Market Committee, an independent group of economists that comments on Federal Reserve policy. In a phone interview on May 27 he explained why he thinks that now is the right time for an idea he concedes has been around for a while.

If price-level targeting caught on, businesspeople and consumers would be able to predict with confidence how high prices would be in 10, 20, or even 30 years. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2017-05-31/a-new-way-to-control-...


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Determined Entity Trying to Get Its Hands On Whatever Silver Is Available – Harvey Organ



Posted on June 3, 2017 by The Doc


The amount standing for the silver metal again rose in similar fashion to what we witnessed last month and also in April. We certainly have a determined entity trying to get its hands on whatever silver is available.
HORRENDOUS JOBS REPORT SENDS GOLD AND SILVER MUCH HIGHER/GOLD SHARES HOWEVER MUCH SUBDUED/TWO BANKING CRISIS MOMENTS TODAY: ONE FROM ITALY AND ONE FROM SPAIN/GYMBOREE IN THE USA READY TO FILE FOR BANKRUPTCY PROTECTION AS IT MISSES ITS INTEREST PAYMENT



GOLD: $1276.20 up $9.80

Silver: $17.49 up 25 cent(s)

Closing access prices:

Gold $1279.00

silver: $17.57

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: $127073 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: 1262.90

PREMIUM FIRST FIX: $7.83

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SECOND SHANGHAI GOLD FIX: $1268.01

NY GOLD PRICE AT THE EXACT SAME TIME: 1260.00

Premium of Shanghai 2nd fix/NY:$7.01

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LONDON FIRST GOLD FIX: 5:30 am est $1260.95

NY PRICING AT THE EXACT SAME TIME: $1260.50

LONDON SECOND GOLD FIX 10 AM: $1274.95

NY PRICING AT THE EXACT SAME TIME. $1275.20

For comex gold:
JUNE/

NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 739 NOTICE(S) FOR 73900 OZ.

TOTAL NOTICES SO FAR: 1855 FOR 185500 OZ (5.7698 TONNES)



For silver:
For silver: JUNE
392 NOTICES FILED TODAY FOR 1,960,000 OZ/

Total number of notices filed so far this month: 447 for 2,235,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX


END
FEDERAL RESERVE BANK OF NY EAR MARKED GOLD REPORT

LAST MONTH WE HAD 7,841 MILLION DOLLARS WORTH OF GOLD VALUED AT 42.22 DOLLARS PER OZ

THIS MONTH: WE HAVE 7841 MILLION DOLLARS WORTH OF GOLD VALUED AT $42.22 PER OZ

AMOUNT OF GOLD MOVED FROM NY: 0

END



The jobs report (see below) was horrendous. As soon as it was published gold and silver got caught bids with gold ending higher in the session by $9.80 at 1276.20 and silver was ready to breach $17.50 closing up 25 cents at $17.49. In the access market gold resumed its northerly trajectory with gold finishing at $1279 and silver at $17.57. At the GLD another 3.55 tonnes was added.



Over at the comex, the amount standing for the silver metal again rose in similar fashion to what we witnessed last month and also in April. we certainly have a determined entity trying to get its hands on whatever silver is available.

Let us have a look at the data for today

.

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In silver, the total open interest ROSE BY 1304 contract(s) UP to 205,750 DESPITE THE FALL IN PRICE OF SILVER THAT TOOK PLACE WITH YESTERDAY’S TRADING (DOWN 13 CENT(S). In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.0280 BILLION TO BE EXACT or 147% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 392 NOTICE(S) FOR 1,960,000 OZ OF SILVER

In gold, the total comex gold ROSE BY A STRONG 1,836 contracts DESPITE THE FALL IN THE PRICE OF GOLD ($5.00 with YESTERDAY’S TRADING). The total gold OI stands at 444,814 contracts.

we had 739 notice(s) filed upon for 73,900 oz of gold.

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With respect to our two criminal funds, the GLD and the SLV:

GLD:

We had a huge change in tonnes of gold at the GLD: a deposit of 3.55 tonnes into the GLD

Inventory rests tonight: 851.00 tonnes

.

SLV

Today: no changes in inventory

THE SLV Inventory rests at: 340.976 million oz

end

.

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

1. Today, we had the open interest in silver ROSE BY 1,304 contracts UP TO 205,750 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787), WITH THE FALL IN PRICE FOR SILVER WITH YESTERDAY’S TRADING (13 CENTS).

NO QUESTION THAT WE HAD FAILED SHORT COVERING BY THE BANKERS ALONG WITH SOME BANKER DELTA HEDGING WITH THE STRONGER PERFORMANCE FROM SILVER OF LATE.

(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 of NY Ear Marked Gold Report

(Harvey)
3. ASIAN AFFAIRS

i)Late THURSDAY night/FRIDAY morning: Shanghai closed UP 2.91 POINTS OR 0.09% / /Hang Sang CLOSED UP 114.83 POINTS OR 0.44% The Nikkei closed UP 317.25 POINTS OR 1.60%/Australia’s all ordinaires CLOSED UP 0.84%/Chinese yuan (ONSHORE) closed DOWN at 6.8205/Oil DOWN to 47.07 dollars per barrel for WTI and 49.33 for Brent. Stocks in Europe OPENED ALL IN THE GREEN ..Offshore yuan trades 6.7927 yuan to the dollar vs 6.8205 for onshore yuan. NOW THE OFFSHORE IS MUCH WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN WEAKER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS HUGELY WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE SLIGHTLY STRONGER DOLLAR. CHINA NOT HAPPY WITH THE NEWS THAT ITS DEBT HAS BEEN DOWNGRADED
3a)THAILAND/SOUTH KOREA/NORTH KOREA

i)NORTH KOREA
b) REPORT ON JAPAN
c) REPORT ON CHINA

i)A very important article written by Byron King. It sure looks like the Chinese are anxious to purchase oil from Saudi Arabia only if this country accepts yuan as payment. Saudi Arabia knows that this would be the death knell of the uSA reserve currency and end the one full swoop the petro-dollar scheme

( Byron King/DailyReckoning.com)

ii)A terrific commentary from Jim Rickards as he describes how China has been able to maintain high growth rates but that is leading to a death spiral:

( Jim Rickards/DailyReckoning)
4. EUROPEAN AFFAIRS

i)ITALY


The banking crisis in Italy is just not going away. Italy has almost 360 billion euros of non performing loans on banking balance sheets or 18% of total loans. The government is seeking a bailout and not a bail in as huge numbers of moms and pops bought debt/equities because they thought the investments were sound. A bail in would crush huge numbers of Italian citizens. This is why the government is pushing for a bail out but the EU states that a bail in is mandatory. No wonder we are witnessing a huge run on Italian banks

( zero hedge)
ii)SPAIN

OHOh!! Spain’s sixth largest bank, Banco Popular in trouble and needs a huge cash infusion of which nobody is willing. Investors are dumping bonds and stock like crazy because they do not want to be long over the weekend

(courtesy zero hedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
6 .GLOBAL ISSUES

For the first time, the balance sheet of the Bank of Japan and the ECB exceed that of the Fed. We know know that the Fed wants to roll off its balance sheet and not repurchase debt with dollars earned. In essence this is tightening and with both the Bank of Japan lessening its purchases along with the ECB, what is going to fuel the global stock markets?



( zerohedge)
7. OIL ISSUES

WTI holds its value just below $48.00 per barrel and yet USA oil rig counts rise for the 20th consecutive week which should increase production exponentially

( zero hedge)


8. EMERGING MARKET
9. PHYSICAL MARKETS
i)We know have a Deutsche bank trader convicted to rigging the precious metals
( zerohedge)
ii)Tom Schoenberg of Bloomberg on the above story:
(courtesy Bloomberg/GATA/Schoenberg)
iii)Raoul Pal is one smart cookie. In this commentary, it debunks the theory that Bitcoin is a store of value(courtesy Sprott money/Raoul Pal;)
10. USA stories

i)A bloodbath in the USA auto sector as inventories climb despite the huge incentives given out already in May. The auto sales is the lowest in the past 3 years. The dealers are stuffed to the gills in autos

( zerohedge)

ib)After reporting on the disaster for the big auto manufacturers, Hyundai has not escaped the damage:

( WolfStreet/WolfRichter)


ii)Trump finally asks the Supreme Court to restore his travel ban

( zero hedge)

iii)JOBS REPORT

a)Gold rises on a terrible jobs report where only 138,000 jobs were added in May. April was revised much lower and the most important component: wages also disappointed.

( zerohedge)

b)Trading right after the jobs report: 10 yr bond rate plunges to 2.156%, the dollar sinks as does the stock market. Gold and silver gain

(courtesy zerohedge)

c)AND NOW THE REAL STORY ON THE JOBS REPORT

THE NUMBER OF PEOPLE NOT IN THE LABOUR FORCE SOAR BY A HUGE 608,000 WHICH EXPLAINS WHY THE UNEMPLOYMENT RATE LOWERED FROM 4.4 DOWN TO 4.3%

(courtesy zero hedge)

d)Here is another metric that Janet will not like: full time jobs tumble by 367,000 the biggest in 3 years: this was offset by a gain of 133,000 part time jobs.

Construction jobs lowered by 1,000 but our good old bartenders and waiters added another 30,000 jobs despite massive closings of restaurants.

( zero hedge)

e)Two thirds of all the gains this month was in the minimum wage jobs such as bartenders and waiters

( zerohedge)

f)Now where would our job report be unless we report on our job gains for America’s waiters and bartenders.

just look at the graph below and marvel:

(courtesy zerohedge)

g)Hatzius has now commented that the Fed will no doubt push back on the latter rate hikes due to slowing job growth and weak inflation

(Goldman Sachs/Hatzius/zerohedge)

h)And now the final word on today’s phony jobs report, as is my custom, here is Dave Kranzler who discusses the totally fictitious B/D plug which “added”

238,000 jobs. It is easy to explain the Birth Death model. If one loses his job, it is “death”. However the BLS believes that these guys become entrepreneurs and start new businesses and hire more people that are unemployed. This is the “birth”. It is total made up.

( Dave Kranzler/IRD)



iii)As expected, Gymboree misses their interest payment and they will now prepare for bankruptcy filings.

( zero hedge)

iv)Craig Wilson comments on Stockman’s Fox interview with Stuart Varney where he reiterates that the USA has no chance of reaching 4% growth with the mountain of debt incurred



( Wilson/Stockman/Daily Reckoning)

v)Michael Snyder offers us his 12 signs that shows that we are now experiencing an economic slowdown

( Michael Snyder/EconomicCollapseBlog)
Let us head over to the comex:

The total gold comex open interest ROSE BY A STRONG 1,836 CONTRACTS UP to an OI level of 444,814 WITH THE RISE IN THE PRICE OF GOLD (($5.00 with YESTERDAY’S trading).

We are now in the contract month of JUNE and it is one of the BETTER delivery months of the year. In this JUNE delivery month we had A HUGE LOSS OF 784 contract(s) FALLING TO 3744. We had 308 notices filed upon yesterday so we LOST 476 contracts or an additional 47,600 oz will NOT stand for delivery in this very active delivery month of June AND WITHOUT A SHADOW OF DOUBT THESE 476 CONTRACTS RECEIVED AN EFP CONTRACT WHICH ENTITLES THEM TO A FIAT BONUS PLUS A FUTURE GOLD CONTRACT/OR A LONG CALL OR MOST LIKELY A LONDON BASED FORWARD GOLD CONTRACT. THESE EFP’S ARE PRIVATE OFF COMEX TRANSACTIONS. THE REMAINING LONGS ARE REMAINING STOIC AND ARE REFUSING THAT FIAT BONUS
Below is a little background on the EFP contracts initiated by our bankers:

We now know for certainty that private EFP contracts are given by the bankers when faced with an upcoming active delivery month and they state that this is for emergency purposes only and that they do not have actual physical metal to deliver upon in the front month. We just do not know the makeup of that private deal. It is my contention that the longs in GOLD FOR INSTANCE at the end of MAY(for June contracts) were given a fiat bonus plus a long “in the money” call for a future July contract or a August FUTURE contract or MAYBE EVEN A LONDON BASED FORWARD GOLD CONTRACT. . and this is why the total comex open interest complex obliterates as we enter first day notice. So now everything makes sense: the obliteration of OI as we enter first day notice has not really occurred in the real sense but replaced with a future long contract call and/or an off -comex London based gold contract with some bonus money for their effort.

The non active July contract GAINED 19 contracts to stand at 2166 contracts. The next big active month is August and here the OI gained 2,021 contracts up to 322,225.

We had 739 notice(s) filed upon today for 73900 oz




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And now for the wild silver comex results. Total silver OI ROSE BY 1,304 contracts FROM 204,446 UP TO 205,750 WITH YESTERDAY’S 13 CENT LOSS. IT SURE LOOKS LIKE OUR BANKERS ARE DESPERATELY TRYING TO COVER THEIR SHORTS IN SILVER BUT TO NO AVAIL. WE ALSO NO DOUBT HAVE CONSIDERABLE EVIDENCE OF SOME DELTA HEDGING BY THE BANKERS TRYING TO OFFSET THAT HUGE SHORT POSITION THEY HAVE BEEN BURGEONING OVER THE YEARS.




We are in the NON active delivery month is JUNE Here the open interest GAINED 19 contract(s) RISING TO 399 contracts. We had 18 notices served upon yesterday so we AGAIN GAINED 37 CONTRACTS OR AN ADDITIONAL 185,000 OZ OF SILVER WILL STAND FOR DELIVERY IN THIS NON ACTIVE DELIVERY MONTH OF JUNE. IT SEEMS WE ARE CONTINUING WHERE WE LEFT OFF LAST MONTH IN SILVER AS INVESTORS ARE WILLING TO FORGO THE FIAT PROFIT JUST TO SECURE PHYSICAL SILVER METAL.


The next big active month will be July and here the OI LOST 561 contracts DOWN to 136,090. the month of August, a non active month picked up its first contract to stand at one. The next big active delivery month for silver will be September and here the OI already jumped by another 514 contracts up to 32,392.

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 392 notice(s) filed for 1,960,000 oz for the June 2017 contract


VOLUMES: for the gold comex

Today the estimated volume was 165,426 contracts which is FAIR

Yesterday’s confirmed volume was 216,891 contracts which is GOOD

volumes on gold are STILL HIGHER THAN NORMAL!

INITIAL standings for JUNE
June 2/2017.

Gold Ounces
Withdrawals from Dealers Inventory in oz nil
Withdrawals from Customer Inventory in oz


64.30 oz

2 kilobars









































































Deposits to the Dealer Inventory in oz nil oz


Deposits to the Customer Inventory, in oz

nil oz










































No of oz served (contracts) today

739 notice(s)

73,900 OZ


No of oz to be served (notices)
3005 contracts
300,500 oz

Total monthly oz gold served (contracts) so far this month

1855 notices
185500 oz
5.7698 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 65,073.4 oz



Today we HAD 1 kilobar transaction(s)/
We had 0 deposit into the dealer:




total dealer deposits: nil oz

We had NIL dealer withdrawals:


total dealer withdrawals: NIL oz
we had no dealer deposits:

total dealer deposits: nil oz


we had 0 customer deposit(s):












total customer deposits; nil oz

We had 1 customer withdrawal(s)


i Out of Manfra: 64.30 oz
2 kilobars








total customer withdrawal: 64.30 oz



we had 1 adjustments:
i Out of Delaware: 2399.99 oz was adjusted out of the customer and this landed into the dealer account of Delaware




For JUNE:


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 739 contract(s) of which 0 notices were stopped (received) by jPMorgan dealer and 303 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 JUNE. contract month, we take the total number of notices filed so far for the month (1855) x 100 oz or 185,500 oz, to which we add the difference between the open interest for the front month of MAY (3744 contracts) minus the number of notices served upon today (739) x 100 oz per contract equals 486,000 oz, the number of ounces standing in this active month of JUNE.

Thus the INITIAL standings for gold for the JUNE contract month:
No of notices served so far (1855) x 100 oz or ounces + {(3744)OI for the front month minus the number of notices served upon today (739) x 100 oz which equals 486,000 oz standing in this active delivery month of JUNE (15.116 tonnes).
WE LOST 476 CONTRACTS OR AN ADDITIONAL 47,600 OZ WILL NOT STAND AT THE COMEX. HOWEVER THESE GUYS WERE GIVEN EFP CONTRACTS WHICH ENTITLES THEM TO A FIAT BONUS PLUS A FUTURES GOLD CONTRACT OR A LONG CALL ON A GOLD CONTRACT OR MOST LIKELY A LONDON BASED GOLD FORWARD CONTRACT.

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and now a word from our

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GYS
"even Your seal Will Lov You"

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Total dealer inventory 945,273.113 or 29.40 tonnes DEALER RAPIDLY LOSING GOLD
Total gold inventory (dealer and customer) = 8,798,342.109 or 273.66 tonnes



Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 273.66 tonnes for a loss of 28 tonnes over that period. Since August 8/2016 we have lost 79 tonnes leaving the comex. However I am including kilobar transactions and they are very suspect at best

I have a sneaky feeling that these withdrawals of gold in kilobars are being used in the hypothecating process and are being used in the raiding of gold!







The gold comex is an absolute fraud. The use of kilobars and exact weights makes the data totally absurd and fraudulent! To me, the only thing that makes sense is the fact that “kilobars: are entries of hypothecated gold sent to other jurisdictions so that they will not be short with their underwritten derivatives in that jurisdiction. This would be similar to the rehypothecated gold used by Jon Corzine at MF Global.

IN THE LAST 12 MONTHS 79 NET TONNES HAS LEFT THE COMEX.

end

And now for silver

AND NOW THE MAY DELIVERY MONTH

June INITIAL standings
June 2. 2017
Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory








526,645.077 oz



CNT
SCOTIA
HSBC




































Deposits to the Dealer Inventory




573,288.670 oz
















Deposits to the Customer Inventory


















621,976.710 oz





HSBC






























No of oz served today (contracts)
392 CONTRACT(S)
(1,960,000 OZ)
No of oz to be served (notices)
7 contracts
( 35,000 oz)
Total monthly oz silver served (contracts) 447 contracts (2,235,000 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 1,945,630.6 oz



today, we had 1 deposit(s) into the dealer account:

i) Into CNT: 573,288.670 oz



total dealer deposit: 573,288.670 oz

we had Nil dealer withdrawals:

total dealer withdrawals: nil oz


we had 2 customer withdrawal(s):


i) Out of CNT: 39,812.457 oz
ii) out of Scotia: 329,773.120 oz
iii) out of HSBC: 157,059.500 oz









TOTAL CUSTOMER WITHDRAWALS: 526,645.077 oz

We had 1 Customer deposit(s):
i) Into HSBC: 573,288.670 oz



***deposits into JPMorgan have now stopped
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 526,645.077 oz


we had 1 adjustment(s)
i) Out of CNT: 168, 873.915 oz was adjusted out of the customer and this landed into the dealer account of CNT



The total number of notices filed today for the JUNE. contract month is represented by 392 contract(s) for 1,960,000 oz. To calculate the number of silver ounces that will stand for delivery in JUNE., we take the total number of notices filed for the month so far at 447 x 5,000 oz = 2,235,000 oz to which we add the difference between the open interest for the front month of JUNE (399) and the number of notices served upon today (392) x 5000 oz equals the number of ounces standing



.

Thus the initial standings for silver for the JUNE contract month: 447(notices served so far)x 5000 oz + OI for front month of JUNE.(399 ) -number of notices served upon today (392)x 5000 oz equals 2,270,000 oz of silver standing for the JUNE contract month. WE ALSO HAD 0 EFP CONTRACTS THAT WERE ISSUED AS THE LONGS REFUSED A FIAT BONUS: THEY WANTED THEIR SILVER. WE GAINED ANOTHER 185,000 ADDITIONAL OUNCES OF SILVER STANDING FOR DELIVERY.












Volumes: for silver comex



Today the estimated volume was 86,150 which is huge
Yesterday’s confirmed volume was 79,201 contracts which is HUGE

FRIDAY’S ESTIMATED VOLUME OF 79,201 CONTRACTS EQUATES TO 396 MILLION OZ OF SILVER OR 57% 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: 34.305 million (close to record low inventory
Total number of dealer and customer silver: 202.230 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

This report takes us to May 30 which is one day before the huge liquidation by the longs
so i do not expect to see much;


gold cot

Gold COT Report

– Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
250,542 83,452 35,549 103,751 286,970 389,842 405,971
Change from Prior Reporting Period
8,790 1,467 -27,879 -8,363 565 -27,452 -25,847
Traders
172 81 74 46 55 247 186

Small Speculators
Long Short Open Interest
44,404 28,275 434,246
-874 -2,479 -28,326
non reportable positions Change from the previous reporting period



COT Gold Report – Positions as of Tuesday, May 30, 2017
OUR LARGE SPECULATORS:
those large speculators (and right up to May 30) who are long in gold saw an increase of 8790 contracts
those large speculators who are short in gold added 1467 contracts to their short side

OUR COMMERCIALS:
those commercials who are long in gold pitched 8363 contracts from their long side
those commercials who are short in gold added a tiny 565 contracts to their short side

OUR SMALL SPECS
those small specs that have been long in gold pitched a tiny 874 contracts from their long side
those small specs that have been short in gold covered 2479 contracts from their short side

CONCLUSIONS:
commercials go net short by 8928 contracts. As you can see there is nothing here that would indicate why the specs longs would dump over 31,000 contracts the next day. No question about it; EFP’s totally distort the COT report and you will see it first hand next Friday.

Silver COT

Silver COT Report: Futures
Large Speculators Commercial
Long Short Spreading Long Short
96,568 35,154 32,131 52,861 123,943
37 -10,204 4,169 -334 6,761
Traders
99 45 46 36 38
Small Speculators Open Interest Total
Long Short 205,235 Long Short
23,675 14,007 181,560 191,228
-2,096 1,050 1,776 3,872 726
non reportable positions Positions as of: 152 117
Tuesday, May 30, 2017

OUR LARGE SPECULATORS
those large specs that have been long in silver added a tiny 37 contracts to their long side
those large specs that have been short in silver covered a monstrous 10,204 contracts from their short side


OUR COMMERCIALS:
those commercials that have been long in silver pitched 334 contracts from their long side
those commercials that have been short in silver added 6761 contracts to their short side

OUR SMALL SPECS
those small specs that have been long in silver pitched 2096 contracts from their long side
those small specs that have been short in silver added 1050 contracts to their short side

CONCLUSIONS:
commercials go net short by 7115 contracts and that is probably bearish
next week we will get a clearer picture as we had some EFP’s issued.


NPV for Sprott and Central Fund of Canada

1. Central Fund of Canada: traded at Negative 6.6 percent to NAV usa funds and Negative 6.6% to NAV for Cdn funds!!!!
Percentage of fund in gold 62.1%
Percentage of fund in silver:37.8%
cash .+0.1%( June 2/2017)


Sprott physical gold/silver fund NAV’s not available tonight.




2. Sprott silver fund (PSLV): Premium FALLS TO -.22%!!!! NAV (june 2/2017)
3. Sprott gold fund (PHYS): premium to NAV RISES to -0.35% to NAV (June 2/2017 )
Note: Sprott silver trust back into NEGATIVE territory at -0.22% /Sprott physical gold trust is back into NEGATIVE/ territory at -0.35%/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

June 2/2017/a huge deposit of 3.55 tonnes of gold into the GLD/Inventory rests at 851.00 tonnes

June 1/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 847.45 TONNES

May 31./ no change in gold inventory at the GLD/Inventory rests at 847.45 tonnes

May 30/no change in gold inventory at the GLD/Inventory rests at 847.45 tonnes

May 26./no change in inventory at the GLD/Inventory rests at 847.45 tonnes

May 25./no change in inventory at the GLD/Inventory rests at 847.45 tonnes

May 24/no change in inventory at the GLD/inventory rests at 847.45 tonnes

May 23/a paper withdrawal of 5.03 tonnes of gold from the GLD/Inventory rests at 847.45 tonnes

May 22/A DEPOSIT OF 1.77 TONNES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 852.48 TONNES

May 19/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 850.71 TONNES

May 18/a withdrawal of 1.18 tonnes of gold from the GLD/Inventory rests at 850.71

May 17/no change in the GLD inventory/inventory rests at 851.89 tonnes

May 16./ no change in the GLD inventory/inventory rests at 851.89 tonnes

May 15/no change in the GLD inventory/inventory rests at 851.89 tonnes

May 12/no changes in GLD/inventory rests at 851.89 tonnes

may 11/no changes in GLD inventory/inventory rests at 851.89 tonnes

May 10/no changes in GLD inventory/inventory rests at 851.89 tonnes/

May 9/a withdrawal of 1.19 tonnes from the GLD/Inventory rests tonight at 851.89 tonnes

May 8/no change in inventory at the GLD/Inventory rests at 853.08 tonnes

May 5/no changes in inventory at the GLD/Inventory rests at 853.08 tonnes

May 4/A tiny change in inventory at the GLD /a withdrawal of .28 tonnes to pay for fees/inventory rests at 853.08 tonnes

May 3/no change in inventory at the GLD/Inventory rest at 853.36 tonnes

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
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June 2 /2017/ Inventory rests tonight at 851.00 tonnes

*IN LAST 164 TRADING DAYS: 97.13 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 107 TRADING DAYS: A NET 30,3 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
*FROM FEB 1/2017: A NET 55.64 TONNES HAVE BEEN ADDED.


end


Now the SLV Inventory

June 2/no change in silver inventory at the SLV/Inventory rests at 340.976 million oz/

June 1/NO CHANGE IN INVENTORY AT THE SLV/INVENTORY RESTS AT 340.976 MILLION OZ

May 31./ no change in silver inventory at the SLV/inventory rests at 340.976 million oz/

May 30/no change in silver inventory at the SLV/inventory rests at 340.976 million oz

May 26/another paper withdrawal of 946,000 oz of silver from the SLV with silver rising/inventory rests at 340.976 million oz

May 25/no change in silver inventory at the SLV/Inventory rests at 341.922 million oz

May 24./a “paper” withdrawal of 1.893 million oz from the SLV/inventory rests tonight at 341.922 million oz

May 23/no change in silver inventory at the SLV/inventory rests at 343.815 million oz

May 19/no change in silver inventory at the SLV/Inventory rests at 343.815 million oz.

may 18/2017/another big deposit of 1.42 million oz added to the SLV/inventory rests at 343.815 million oz.

may 17/no change in silver inventory at the SLV/Inventory rests at 342.395 million oz/

May 16./we had a huge addition of 1.416 million oz of silver into the SLV/inventory rests at 342.395 million oz

May 15/no changes in silver inventory/inventory rests at 340.979 million oz/

May 12/a huge change in silver: a deposit of 2.369 million oz/inventory rests at 340.979 million oz

May 11/no changes in silver inventory at the SLV/Inventory rests at 338.610 million oz

May 10/ a gigantic 3.833 million oz of silver added to the SLV and this occurred with the constant whacking of silver for the past 17 trading sessions/inventory rests at 338.610 million oz

may 9Again, no movement of inventory at the SLV. Inventory rests at 334.777 million oz

May 8/no change in silver inventory at the SLV/inventory rests at 334.777 million oz/

May 5/Strange!! no change in silver inventory at the SLV/Inventory rests tonight at 334.777 million oz

May 4/a very tiny withdrawal of 144,000 oz to pay for fees/inventory rests tonight at 334.777 million oz/

May 3/strange!! with the drop in price of silver we had no change in inventory at the SLV/inventory rests at 334.921 million oz

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.Inventory 334.921 million oz

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??)


June 2.2017: Inventory 340.976 million oz

http://www.silverdoctors.com/silver/silver-news/determined-entity-trying-to-get-its-hands-on-whatever-silver-is-available-harvey-organ/#more-78672

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Thanks Harvey & Doc Always Good Stuff <3
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MMgys


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