GOLDBUGS AMEX Goldbugs Index (GOLD)

[NYBob]

Harvey Organ Blog / 2017/23/11/ -

DEC 11/ANOTHER MINOR RAID BY THE BANKERS: GOLD DOWN $1.45 AND SILVER DOWN 4 CENTS/ANOTHER HUGE GOLD AND SILVER TRANSFER THROUGH THE EFP’S: GOLD , 5694 CONTRACTS TRANSFERRED/SILVER: 2094 CONTRACTS/SILVER HAS BEEN DOWN FOR 9 CONSECUTIVE TRADING DAYS AND YET THEIR SILVER INVENTORY RISES BY 8.17 MILLION OZ/ BITCOIN CLOSES AT $17,134.00/PER COIN/LARGE CHINESE CONGLOMERATE NHA EXPERIENCING LIQUIDITY PROBLEMS/IN A SURPRISE MOVE,

https://harveyorganblog.com/2017/12/11/dec-11-another-minor-raid-by-the-bankers-gold-down-1-45-and-silver-down-4-cents-another-huge-gold-and-silver-transfer-through-the-efps-gold-5694-contracts-transferred-silver-2094-contracts-sil/

RUSSIAN ORDERS MOST OF ITS TROOPS OUT OF SYRIA SAYING HIS JOB AGAINST ISIS IS DONE/CALIFORNIA FIRES RAGE ON AS NOW SANTA BARBARA IS BEING ENGULFED
December 11, 2017 · by harveyorgan · in Uncategorized · 1 Comment
GOLD: $1245.05 DOWN $1.45

Silver: $15.76 DOWN 4 cents

Closing access prices:

Gold $1242.25

silver: $15.73

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: $1256.99 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1248.85

PREMIUM FIRST FIX: $8.14

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SECOND SHANGHAI GOLD FIX: $1258.35

NY GOLD PRICE AT THE EXACT SAME TIME: $1251.00

Premium of Shanghai 2nd fix/NY:$8.35

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1251.40

NY PRICING AT THE EXACT SAME TIME: $1250.40

LONDON SECOND GOLD FIX 10 AM: $1250.65

NY PRICING AT THE EXACT SAME TIME. 1250.50

For comex gold:

DECEMBER/

NUMBER OF NOTICES FILED TODAY FOR DECBER CONTRACT: 4 NOTICE(S) FOR 400 OZ.
TOTAL NOTICES SO FAR: 6099 FOR 609900 OZ (18.97 TONNES),

For silver:

DECEMBER

1 NOTICE(S) FILED TODAY FOR
5,000 OZ/
Total number of notices filed so far this month: 5286 for 26,430,000 oz

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Bitcoin: BID $16,177/OFFER $16,780, UP $1698 (morning)
BITCOIN : BID $17,136 OFFER: $17,236 // UP $2134 (CLOSING)
end

Let us have a look at the data for today

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In silver, the total open interest SURPRISINGLY ROSE BY A WHOPPING 3460 contracts from 193,096 RISING TO 196,556 DESPITE FRIDAY’S TINY SIZED 3 CENT RISE IN SILVER PRICING. WE HAD SURPRISINGLY NO REAL COMEX LIQUIDATION AND ON TOP OF THIS, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GIGANTIC NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE : 2094 EFP’S FOR MARCH (AND ZERO FOR DEC AND OTHER MONTHS) AND THUS TOTAL ISSUANCE OF 2094 CONTRACTS. I GUESS WHAT THE CME IS STATING IS THAT THERE IS NO SILVER (OR GOLD) TO BE DELIVERED UPON AT THE COMEX AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. FRIDAY WITNESSED 2951 EFP’S FOR SILVER ISSUED.

ACCUMULATION FOR EFP’S/SILVER/ STARTING FROM FIRST DAY NOTICE/FOR MONTH OF DECEMBER:

24,402 CONTRACTS (FOR 7 TRADING DAYS TOTAL 24,402 CONTRACTS OR 122.01 MILLION OZ: AVERAGE PER DAY: 3,486 CONTRACTS OR 17.43 MILLION OZ/DAY)

RESULT: A HUGE SIZED RISE IN OI COMEX DESPITE THE TINY 3 CENT RISE IN SILVER PRICE. HOWEVER WE HAD ALL OF OUR COMEX LONGS WHICH EXITED OUT OF THE SILVER COMEX TRANSFERRED THEIR OI TO LONDON THROUGH THE EFP ROUTE: FROM THE CME DATA 2094 EFP’S WERE ISSUED TODAY FOR A DELIVERABLE CONTRACT OVER IN LONDON WITH A FIAT BONUS. IN ESSENCE THE DEMAND FOR SILVER PHYSICAL INTENSIFIES GREATLY. WE REALLY GAINED 5554 OI CONTRACTS i.e. 2094 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 3460 OI COMEX CONTRACTS. AND ALL OF THIS INCREASED DEMAND HAPPENED WITH THE TINY RISE IN PRICE OF SILVER BY 3 CENTS AND A LOW CLOSING PRICE OF $15.80 YESTERDAY. YET WE STILL HAVE A MASSIVE AMOUNT OF SILVER STANDING AT THE COMEX.

In ounces AT THE COMEX, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.955 BILLION TO BE EXACT or 140% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT DECEMBER MONTH/ THEY FILED: 1 NOTICE(S) FOR 5,000 OZ OF SILVER

In gold, the open interest FELL BY AN EXPECTED 5820 CONTRACTS DOWN TO 453,037 WITH THE FAIR SIZED FALL IN PRICE OF GOLD ON FRIDAY ($4.75). HOWEVER, THE TOTAL NUMBER OF GOLD EFP’S ISSUED FRIDAY FOR MONDAY TOTALED ANOTHER 5,694 CONTRACTS OF WHICH THE MONTH OF DECEMBER SAW 0 CONTRACTS AND FEB SAW THE ISSUANCE OF 5694 CONTRACTS. The new OI for the gold complex rests at 454,706. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE WITNESS THE HUGE NUMBER OF EFP TRANSFERS TOGETHER WITH THE MASSIVE AMOUNT OF GOLD OUNCES STANDING FOR DECEMBER. EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER AND ON TOP OF THAT IT IS TAKING A FURTHER 13 WEEKS TO OBTAIN PHYSICAL FROM THE POINT WHEN FORWARDS BECOME DUE. IN ESSENCE WE HAVE A TINY NET LOSS OF 126 OI CONTRACTS: 5820 OI CONTRACTS LEFT THE COMEX BUT 5694 OI CONTRACTS NAVIGATED OVER TO LONDON. THE CME HAS BEEN VERY TARDY IN THEIR REPORTING OF EFP ISSUANCE. THEY ARE IMMEDIATELY REMOVING COMEX OPEN INTEREST NUMBERS BUT DELAYING RELEASE OF EFP’S FOR 24 HOURS OR GREATER AS NO DOUBT THEY ARE NEGOTIATING WITH THE LONGS FOR A FIAT BONUS.

FRIDAY, WE HAD 18,804 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DECEMBER STARTING WITH FIRST DAY NOTICE: 100,121 CONTRACTS OR 10.012 MILLION OZ OR 311.00 TONNES (7 TRADING DAYS AND THUS AVERAGING:14,303 EFP CONTRACTS PER TRADING DAY OR 1.430 MILLION OZ/DAY)

Result: A FAIR SIZED DECREASE IN OI WITH THE FALL IN PRICE IN GOLD TRADING FRIDAY ($4.75). WE HAD A LARGE NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 5694. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX AND YET WE REACHED THE HUGE DELIVERY MONTH OF DECEMBER. I GUESS IT EXPLAINS THE HUGE ISSUANCE OF EFP’S…THERE IS HARDLY ANY GOLD PRESENT AT THE GOLD COMEX FOR DELIVERY PURPOSES. IF YOU TAKE INTO ACCOUNT THE 5604 EFP CONTRACTS ISSUED, WE HAD A NET LOSS OPEN INTEREST OF 126 contracts:

5694 CONTRACTS MOVE TO LONDON AND 5820 CONTRACTS LEFT THE COMEX.

we had: 4 notice(s) filed upon for 400 oz of gold.

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

GLD:

Today, SURPRISINGLY NO CHANGES in gold inventory at the GLD/

Inventory rests tonight: 842.81 tonnes.

SLV

oh oh!!!TODAY WE HAD ANOTHER HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A ‘DEPOSIT” OF 944,000 OZ DESPITE THE CONSTANT RAID ON SILVER. SILVER HAS BEEN DOWN 9 STRAIGHT TRADING DAYS.

INVENTORY RESTS AT 325.299 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 A HUGE 3460 contracts from 193,096 UP TO 196,556 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE TINY GAIN IN PRICE OF SILVER AND CONTINUAL BOMBARDMENT (A RISE OF 3 CENTS ). HOWEVER,OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER HUGE 2094 PRIVATE EFP’S FOR MARCH (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM). EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. WE HAD ZERO COMEX SILVER COMEX LIQUIDATION. ON TOP OF THIS, IF WE TAKE THE OI GAIN AT THE COMEX 3460 CONTRACTS TO THE 2094 OI TRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A NET GAIN OF 5554 OPEN INTEREST CONTRACTS, AND YET WE STILL HAVE A HUGE AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN DECEMBER (SEE BELOW). THE NET GAIN TODAY IN OZ: 27.27 MILLION OZ!!!

RESULT: A HUGE SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE TINY 3 CENT GAIN IN PRICE (WITH RESPECT TO FRIDAY’S TRADING). BUT WE ALSO HAD ANOTHER 2094 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON . TOGETHER WITH THE HUGE AMOUNT OF SILVER OUNCES STANDING FOR DECEMBER, DEMAND FOR PHYSICAL SILVER INTENSIFIES DESPITE THE CONSTANT RAIDS.

(report Harvey)

.

2.a) The Shanghai and London gold fix report

(Harvey)

2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY: Bloomberg

3. ASIAN AFFAIRS
i)Late SUNDAY night/MONDAY morning: Shanghai closed UP 32.20 points or .98% /Hang Sang CLOSED UP 325.44 pts or 1.14% / The Nikkei closed UP 127.65 POINTS OR 0.56%/Australia’s all ordinaires CLOSED UP 0.07%/Chinese yuan (ONSHORE) closed UP at 6.6182/Oil DOWN to 57.21 dollars per barrel for WTI and 63.36 for Brent. Stocks in Europe OPENED ALL MIXED. ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.6182. OFFSHORE YUAN CLOSED UP AGAINST THE ONSHORE YUAN AT 6.6203 //ONSHORE YUAN STRONGER AGAINST THE DOLLAR/OFF SHORE STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS WEAKER AGAINST ALL MAJOR CURRENCIES. CHINA IS VERY HAPPY TODAY

3a)THAILAND/SOUTH KOREA/NORTH KOREA
i)North Korea/South Korea/

Russia rebukes USA for continual military drills in the Korean Peninsula

( zerohedge)

b) REPORT ON JAPAN
3 c CHINA
Very important. Is China experiencing a Minsky Moment as one of the 4 big conglomerates is witnessing liquidity problems. HNA’s bonds now have a coupon rate of 9% and their flagship operation Hainan Airways has just cancelled a bond deal due to lack of support. These guys have 28 billion USA of debt due in June and they probably will be unsuccessful in paying back this debt.
( zero hedge/)
4. EUROPEAN AFFAIRS
i)Looks like we have another Enron as Steinhoff implodes. Global banks are on the hook for 21 billion uSA

( zerohedge)

ii)Poland has figured out the EU and they are ignoring rules. Poland is adamant that they do not want migration. It looks like they want to be kicked out
( zerohedge)
iii0Here is a great example of what you get when you allow migration from Muslim countries. Brussels, once the jewel of Europe is now a hell hole.
( Godefridi))

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
i)Not good: rioting in Beirut as protesters storm the USA embassy gates there.

( zerohedge)

ib)More rockets fired from Gaza to which Israel responded with their airstrikes and tank firings:

( zerohedge)

ii)In a surprise move, Putin orders the withdrawal of considerable Russian troops stating that ISIS has been defeated. This is counter to the USA who is keeping their soldiers on the ground

( zerohedge)

iii0Russia may turn to an oil backed cryptocurrency to challenge USA sanctions and USA petrodollar hegemony

( zerohedge)

6 .GLOBAL ISSUES
A short but sweet commentary from Graham Summers as he illustrates how the next crisis will be a default/(or massive printing )

He describes how we now have a huge bond bubble with central banks holding over 10 trillion of these bonds. Once interest rates rise, the bond bubble bursts which will cause our central banks to lose considerable amounts of money. In order to shore up their balance sheet they will need to print more. Bitcoin is signalling this to us

( Graham Summers/Phoenix Capital)

7. OIL ISSUES
A hairline crack in the Forties Pipeline will cause closure and this causes WTI to rise over Brent:

( zerohedge)

8. EMERGING MARKET
9. PHYSICAL MARKETS
i)Saturday: the real problem with Bitcoin: only 1000 investors worldwide control almost 50% of the market

( zerohedge)

ii)Saturday: The Bulgarian government seized bitcoin as the owners of these were from organized crime. Now this confiscation is now worth $3 billion/enough to wipe out 20% of their debt.

( zerohedge)

iii)Kunstler correctly states that bitcoin has replaced gold as the alarm bell

(Kunstler/GATA)

iv)Max Keiser: Bitcoin’s success will eventually liberate gold form price suppression

(Max Keiser/Kitco/GATA)

v)Swiss monetary metals expert Claudio Grass states that the Russian government knows all about the Western gold price suppression scheme and with the new alliance between Russia and China we will have a real gold standard and the end of uSA dominance

( Grass/GATA)
vi)Sam Meredith of CNBC also states that the Bitcoin mania will boost efforts to dethrone the USA dollar( Meredith/CNBC/GATA)

vii)He is nuts: huge owner of bitcoin, Winklevoss sees the cryptocurrency replacing gold.

( Kharif/Bloomberg/GATA)

10. USA stories which will influence the price of gold/silver
i)ISIS inspired pipe bomb in NEW York at the Bus Terminal. Suspect arrested

( zerohedge)

ii)Southern California fires rage on as 230,000 acres is involved in this catastrophe. The fire comes the 5th largest in state history

( zerohedge)

iii)More nonsense as the Senate tax bill has marginal tax rates over 100% on certain pass through entities once income surpasses around $600,000
( zerohedge)
iv)Janet’s favourite indicator, the JOLTS report shows a huge standard deviation move upward showing 5.6 million Americans were hired in October. This is soft data and is always manipulated.(courtesy zerohedge)

v)David Stockman tackles the nonsense in the latest jobs report and the shape of the USA “recovery”

( David Stockman/ContraCorner)

Let us head over to the comex:
The total gold comex open interest FELL BY AN EXPECTED 5,820 CONTRACTS DOWN to an OI level of 453,037 DESPITE THE FAIR SIZED FALL IN THE PRICE OF GOLD ($4.75 LOSS WITH RESPECT TO FRIDAY’S TRADING). IN ACTUAL FACT WE DID NOT HAVE ANY GOLD LIQUIDATION. WE HAD ANOTHER LARGE COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS. THE CME REPORTS THAT 0 EFPS WERE ISSUED FOR DECEMBER AND 5694 EFP’S WERE ISSUED FOR FEBRUARY FOR A TOTAL OF 5694 CONTRACTS. THE OBLIGATION STILL RESTS WITH THE BANKERS ON THESE TRANSFERS. THE CONSTANT BANKER RAIDS CONTINUE AS THEY TRY TO GET OUR “MATHEMATICAL PAPER LONGS” IN GOLD TO LIQUIDATE THEIR POSITIONS AT THE COMEX. IT LOOKS LIKE IT HAS SUCCEEDED WITH OUR MATHEMATICAL PLAYERS AS THEY CONTINUE TO INCREASE ON THE SHORT SIDE (SEE SATURDAY’S COT REPORT) BUT THE OTHER SMART HEDGE PLAYERS MORPH INTO LONDON FORWARDS AND RECEIVE A FIAT BONUS FOR THEIR EFFORT. THE CME HAS BEEN VERY TARDY IN THEIR REPORTING OF EFP’S CONTRACTS AFTER A COMEX OI MORPHS INTO AN EFP WHICH WAS THE REASON FOR MY 2ND LETTER TO THE CFTC.

ON A NET BASIS IN OPEN INTEREST WE LOST TODAY: 126 OI CONTRACTS IN THAT 5694 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST 5820 COMEX CONTRACTS. NET LOSS: 126 contracts OR 12600 OZ OR 0.3919 TONNES

Result: AN EXPECTED DECREASE IN COMEX OPEN INTEREST WITH THE FALL IN THE PRICE OF GOLD YESTERDAY ($4.75.) WE HAD NO REAL GOLD LIQUIDATION. TOTAL OPEN INTEREST LOSS ON THE TWO EXCHANGES: 126 OI CONTRACTS…

We have now entered the active contract month of DECEMBER. The open interest for the front month of December saw it’s open interest surprisingly rise by 11 contracts up to 2178. We had 62 notices filed upon yesterday so we gained 73 COMEX contracts or an additional 7300 oz will stand for delivery AT THE COMEX in this active delivery month of December

January saw its open interest LOSS OF 69 contracts DOWN to 1984. FEBRUARY saw a loss of 5456 contacts down to 346.207.

We had 4 notice(s) filed upon today for 400 oz

PRELIMINARY VOLUME TODAY ESTIMATED; 171,446
FINAL NUMBERS CONFIRMED FOR YESTERDAY: 286,175
comex gold volumes are increasing dramatically

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And now for the wild silver comex results.

Total silver OI SURPRISINGLY ROSE BY A TOTALLY UNEXPECTED 3460 CONTRACTS FROM 193,096 UP TO 196,556 DESPITE FRIDAY’S TINY 3 CENT GAIN IN PRICE (AND CONTINUAL RAIDING OF OUR PRECIOUS METALS). HOWEVER WE DID HAVE ANOTHER STRONG 2094 EMERGENCY EFP’S FOR MARCH ISSUED BY OUR BANKERS (ZERO FOR DECEMBER) TO COMEX LONGS WHO RECEIVED A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.THE TOTAL EFP’S ISSUED: 2094. IT SURE LOOKS LIKE THE SILVER BOYS HAVE STARTED TO MIGRATE TO LONDON FROM THE START OF DELIVERY MONTH AND CONTINUING RIGHT THROUGH UNTIL FIRST DAY NOTICE JUST LIKE WE ARE WITNESSING TODAY. USUALLY WE NOTED THAT CONTRACTION IN OI OCCURRED ONLY DURING THE LAST WEEK OF AN UPCOMING ACTIVE DELIVERY MONTH. THIS PROCESS HAS JUST BEGUN IN EARNEST IN SILVER STARTING IN SEPTEMBER. HOWEVER, IN GOLD, WE HAVE BEEN WITNESSING THIS FOR THE PAST 2 YEARS. WITHOUT A DOUBT WE HAD NO LONG SILVER LIQUIDATION AS DEMAND FOR PHYSICAL SILVER REMAINS STRONG ESPECIALLY AS WE WITNESS A HUGE AMOUNT OF SILVER OUNCES STANDING FOR METAL IN DECEMBER AS WELL AS THAT MASSIVE MIGRATION OF EFPS OVER TO LONDON. IT SEEMS THAT ALL OF OUR LOST SILVER COMEX OI CONTRACTS HAVE MIGRATED OVER TO THE PHYSICAL HUB OF OUR PRECIOUS METALS, LONDON. ON A NET BASIS WE GAINED 5554 OPEN INTEREST CONTRACTS:

3460 CONTRACTS GAIN AT THE COMEX WITH THE ADDITION OF 2094 OI CONTRACTS NAVIGATING OVER TO LONDON.

NET GAIN: 5554 CONTRACTS

We are now in the big active delivery month of December and here the OI fell by 31 contracts down to 805. We had 54 notices filed upon yesterday so we GAINED 23 contract or an additional 115,000 oz will stand in this active delivery month of December.

The January contract month ROSE by 19 contracts UP to 1378. February saw a LOSS OF 8 OI contract FALLING TO 56. The March contract GAINED 3336 contracts UP to 157,603.

We had 1 notice(s) filed for 5,000 oz for the DECEMBER 2017 contract

INITIAL standings for DECEMBER
Dec 11/2017.

Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
4822.50 oz
Scotia
150 kilobars
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
10,410.998 oz
Scotia
No of oz served (contracts) today

4 notice(s)
400 OZ
No of oz to be served (notices)
2174 contracts
(217,400 oz)
Total monthly oz gold served (contracts) so far this month
6099 notices
609900 oz
18.970 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 xxx oz
Today we HAD 1 kilobar trans
WE HAD nil DEALER DEPOSIT:
total dealer deposits: nil oz

We had nil dealer withdrawals:
total dealer withdrawals: nil oz

we had 1 customer deposit(s):

i) Into Scotia: 10,410.998

total customer deposits 10,410.998 oz

We had 1 customer withdrawal(s)

i) Out of Scotia: 4822.500 oz

150 kilobars

Total customer withdrawals: 4822.500 oz

we had 0 adjustment(s)

*December is the biggest delivery month of the year for gold and the fact that no gold has entered the vaults these past three trading days speaks volumes that there is no appreciable gold at the comex to deliver upon our longs and thus the reason for the migration to London

For DECEMBER:
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 4 contract(s) of which 4 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.

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To calculate the INITIAL total number of gold ounces standing for the DECEMBER. contract month, we take the total number of notices filed so far for the month (6099) x 100 oz or 609,900 oz, to which we add the difference between the open interest for the front month of DEC. (2178 contracts) minus the number of notices served upon today (4 x 100 oz per contract) equals 827,300 oz, the number of ounces standing in this active month of DECEMBER

Thus the INITIAL standings for gold for the DECEMBER contract month:

No of notices served (6099) x 100 oz or ounces + {(2178)OI for the front month minus the number of notices served upon today (4) x 100 oz which equals 827,300 oz standing in this active delivery month of DECEMBER (25.73 tonnes). THERE IS 28 TONNES OF REGISTERED GOLD AVAILABLE FOR DELIVERY SO FAR.

WE GAINED 73 COMEX CONTRACTS STANDING OR 7300 OZ WILL STAND AT THE COMEX AND QUEUE JUMPING RETURNS TO GOLD.

.

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ON FIRST DAY NOTICE FOR DECEMBER 2016, THE INITIAL GOLD STANDING: 39.038 TONNES STANDING

BY THE END OF THE MONTH: FINAL: 29.791 TONNES STOOD FOR COMEX DELIVERY AS THE REMAINDER HAD TRANSFERRED OVER TO LONDON FORWARDS.

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Total dealer inventory 913,599.261 or 28.41 tonnes (dealer gold continues to disappear)
Total gold inventory (dealer and customer) = 8,982,142.308 or 279.38 tonnes

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 14 MONTHS 75 NET TONNES HAS LEFT THE COMEX.

end

And now for silver
AND NOW THE DECEMBER DELIVERY MONTH
DECEMBER INITIAL standings
Dec 11/ 2017
Silver Ounces
Withdrawals from Dealers Inventory nil oz
Withdrawals from Customer Inventory
1000.000 oz
Delaware
exact weight???
Deposits to the Dealer Inventory
nil
oz
Deposits to the Customer Inventory
nil oz
No of oz served today (contracts)
1 CONTRACT(S)
(5,000 OZ)
No of oz to be served (notices)
804 contract
(4,020,000 oz)
Total monthly oz silver served (contracts) 5286 contracts
(26,430,000 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
today, we had 0 deposit(s) into the dealer account:

total dealer deposit: nil oz

we had 0 dealer withdrawals:

total dealer withdrawals: nil oz

we had 1 customer withdrawal(s):

i) Out of Delaware: 1000.000 oz exact weight??

TOTAL CUSTOMER WITHDRAWAL 1,000.000 oz

We had 0 Customer deposit(s):

***deposits into JPMorgan have stopped again
In the month of March and February, JPMorgan stopped (received) almost all of the comex silver contracts.
why is JPMorgan bringing in so much silver??? why is this not criminal in that they are also the massive short in silver

total customer deposits: nil oz

we had 0 adjustment(s)

The total number of notices filed today for the DECEMBER. contract month is represented by 1 contract(s) FOR 5,000 oz. To calculate the number of silver ounces that will stand for delivery in DECEMBER., we take the total number of notices filed for the month so far at 5290 x 5,000 oz = 26,430,0000 oz to which we add the difference between the open interest for the front month of DEC. (805) and the number of notices served upon today (1 x 5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the DECEMBER contract month: 5286 (notices served so far)x 5000 oz + OI for front month of DECEMBER(805) -number of notices served upon today (1)x 5000 oz equals 30,450,000 oz of silver standing for the DECEMBER contract month. This is EXCELLENT for this active delivery month of November.

WE GAINED AN ADDITIONAL 23 CONTRACTS OR 115,000 OZ THAT WILL STAND AT THE COMEX AS QUEUE JUMPING ACCELERATES WITH RESPECT TO SILVER. BOTH GOLD AND SILVER ARE NOW EXPERIENCING QUEUE JUMPING.

ON FIRST DAY NOTICE FOR THE DECEMBER 2016 CONTRACT WE HAD 15.282 MILLION OZ STAND.

THE FINAL STANDING: 19.900 MILLION OZ AS QUEUE JUMPING INTENSIFIED.

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ESTIMATED VOLUME FOR TODAY: 51.860

CONFIRMED VOLUME FOR FRIDAY: 78,660 CONTRACTS

YESTERDAY’S CONFIRMED VOLUME OF 78,660 CONTRACTS EQUATES TO 393 MILLION OZ OR 56.1% OF ANNUAL GLOBAL PRODUCTION OF SILVER

COMMODITY LAW SUGGESTS THAT OPEN INTEREST SHOULD NOT BE MORE THAN 3% OF ANNUAL GLOBAL PRODUCTION. THE CROOKS ARE SUPPLYING MASSIVE PAPER TRYING TO KEEP SILVER IN CHECK.

Total dealer silver: 56.695 million
Total number of dealer and customer silver: 239.902 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 2.3 percent to NAV usa funds and Negative 2.4% to NAV for Cdn funds!!!!
Percentage of fund in gold 63.3%
Percentage of fund in silver:36.4%
cash .+.3%( Dec 11/2017)



2. Sprott silver fund (PSLV): NAV FALLS TO -0.68% (Dec 11 /2017)
3. Sprott gold fund (PHYS): premium to NAV RISES TO -0.24% to NAV (Dec 11/2017 )
Note: Sprott silver trust back into NEGATIVE territory at -0.68%-/Sprott physical gold trust is back into NEGATIVE/ territory at -0.24%/Central fund of Canada’s is still in jail but being rescued by Sprott.
Sprott WINS hostile 3.1 billion bid to take over Central Fund of Canada

(courtesy Sprott/GATA)

END

And now the Gold inventory at the GLD

Dec 11/SURPRISINGLY NO CHANGES IN GOLD INVENTORY AT THE GLD DESPITE THE CONSTANT RAIDS ON GOLD/INVENTORY RESTS AT 842.81 TONNES

Dec 8/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 842.81 TONNES

Dec 7/A BIG WITHDRAWAL OF 2.66 TONNES FROM THE GLD/INVENTORY RESTS AT 842.81 TONNES

Dec 6/No changes in GOLD inventory at the GLD/Inventory rests at 845.47 tonnes

Dec 5/A WITHDRAWAL OF 2.64 TONNES FROM THE GLD/INVENTORY RESTS AT 845.47 TONNES

Dec 4/A MASSIVE DEPOSIT OF 8.56 TONNES OF GOLD INTO THE GLD/THE BLEEDING OF GLD GOLD HAS STOPPED/INVENTORY RESTS TONIGHT AT 848.11 TONNES

Dec 1/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 839.55 TONNES

Nov 30/no change in gold inventory at the GLD. Inventory rests at 839.55 tonnes

Nov 29/a withdrawal of 2.66 tonnes at the GLD/Inventory rests at 839.55 tonnes

NOV 28/ no change in gold inventory at the GLD/inventory rests at 842.21 tonnes

Nov 27 Strange!! we gold up by $6.40 today, we had a good sized withdrawal of 1.18 tonnes from the GLD. Here is something that is also strange: we have had exactly 1.18 tonnes of gold withdrawn from the comex on 5 separate occasions in the past 30 days..explanation?

Nov 24/no change in gold inventory at the GLD/Inventory rests at 843.09 tonnes

Nov 22/no change in gold inventory at the GLD/Inventory rests at 843.39 tonnes

Nov 21/no change in gold inventory at the GLD/inventory rests at 843.39 tonnes

NOV 20/no change in gold inventory at the GLD/Inventory rests at 843.39 tonnes

Nov 17/no change in gold inventory at the GLD/inventory rests at 843.39 tonnes

Nov 16./NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 843.39 TONNES

Nov 15./no change in gold inventory at the GLD/inventory rests at 843.09 tonnes

NOV 14/a small deposit of .300 tonnes into the GLD inventory/Inventory rests at 843.39 tonnes

Nov 13/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 843.09 TONNES

Nov 10/no change in gold inventory at the GLD/Inventory rests at 843.09 tonnes

Nov 9/no changes in inventory at the GLD/Inventory rests at 843.09 tonnes

NOV 8/ANOTHER HUGE WITHDRAWAL OF 1.18 TONNES OF GOLD FROM THE GLD DESPITE GOLD’S RISE TODAY. INVENTORY RESTS AT 843.09

Nov 7/a huge withdrawal of 1.48 tonnes of gold from the GLD/Inventory rests at 844.27 tonnes

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Dec 11/2017/ Inventory rests tonight at 842.81 tonnes

*IN LAST 290 TRADING DAYS: 98.14 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 225 TRADING DAYS: A NET 59.14 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
*FROM FEB 1/2017: A NET 28.03 TONNES HAVE BEEN ADDED.

end

Now the SLV Inventory

Dec 11/WOW!! ANOTHER STRANGE ONE: SILVER DESPITE BEING DOWN FOR 9 CONSECUTIVE TRADING DAYS ADDS ANOTHER 944,000 OZ TO ITS INVENTORY. FROM NOV 30 UNTIL TODAY SILVER HAS BEEN DOWN EVERY DAY. HOWEVER THE INVENTORY OF SILVER HAS RISEN 8.169 MILLION OZ.

Dec 8/A HUGE DEPOSIT OF 2.642 MILLION OZ/INVENTORY RESTS AT 324.355 MILLION OZ/

Dec 7/strange!! with the continual whacking of silver, no change in silver inventory at the SLV/Inventory rests at 321.713

Dec 6/no change in silver inventory at the SLV/Inventory remains at 21.713 million oz.

Dec 5/THIS ONE HIT ME LIKE A TON OF BRICKS: SLV ADDS 2.507 MILLION OZ DESPITE THE HUGE DRUBBING SILVER TOOK TODAY. (PRICE DISCOVERY?)

Dec 4/NO CHANGE IN SILVER INVENTORY AT THE SLV

INVENTORY RESTS AT 319.207 MILLION OZ/

Dec 1/VERY STRANGE!! WITH SILVER IN THE DUMPSTER THESE PAST FEW DAYS, SLV ADDS 2.076 MILLION OZ/???

INVENTORY 319.207 MILLION OZ/

Nov 30/no changes in silver inventory despite the huge drop in price/inventory rests at 317.130 million oz

Nov 29/no changes in silver inventory at the SLV/Inventory rests at 317.130 million oz/strange!! at drop of 32 cents and no change in inventory?

Nov 28/no change in silver inventory at the SLV/Inventory rests at 317.130 million oz.

Nov 27/NO CHANGE IN SILVER INVENTORY DESPITE A ZERO GAIN IN PRICE /QUITE OPPOSITE TO GOLD WHICH SAW 1.18 TONNES OF GOLD WITHDRAWN DESPITE A RISE IN PRICE OF $6.40

Nov 24/A WITHDRAWAL OF 944,000 OZ OF SILVER FROM THE SLV//INVENTORY RESTS AT 317.130 MILLION OZ

Nov 22/no change in silver inventory at the SLV/Inventory rests at 318.074 million oz.

Nov 21/no change in silver inventory at the SLV/inventory rests at 318.074 million oz/

NOV 20/no change in silver inventory at the SLV/inventory rests at 318.074 million oz

Nov 17/no change in silver inventory at the SLV/inventory rests at 318.074 million oz/

Nov 16./NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.074 MILLION OZ/

Nov 15./no change in silver inventory at the SLV/inventory rests at 318.074 tones

NOV 14/no change in silver inventory at the SLV/Inventory rests at 318.074 tonnes

Nov 13/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.074 MILLION OZ

Nov 10/no change in silver inventory at the SLV/Inventory rests at 318.074 million oz/

Nov 9/no change in silver inventory at the SLV/inventory rests at 318.074 million oz.

NOV 8/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.074 MILLION OZ

Nov 7/a huge withdrawal of 944,000 oz from the SLV/inventory rests at 318.074 million oz/

Dec 11/2017:

Inventory 325.299 million oz
end

6 Month MM GOFO
Indicative gold forward offer rate for a 6 month duration

+ 1.49%
12 Month MM GOFO
+ 1.79%
30 day trend

end

Major gold/silver trading /commentaries for MONDAY
GOLDCORE/BLOG/MARK O’BYRNE.

GOLD/SILVER

Bitcoin – Plan Your Exit Strategy Now – Maybe With Gold
11, December

Bitcoin – Plan Your Exit Strategy Now – Maybe With Gold

Made money in bitcoin? Well done. Don’t wait until the stampede starts. Here’s what you must do now.

by Dominic Frisby in Money Week

So there I was on Sunday afternoon, doing what it is one does on a Sunday – very little in my case – and a notification comes up on my phone:

“Bitcoin rises over 10% to $11,800”.


Bitcoin in USD (1 Year). Source: CoinDesk

On a Sunday. When every other market is closed.

It’s bad enough that bitcoin is making every other market in the world look like a dirge when they’re open. But to carry on rising even when they’re closed!

What is happening is almost incredible…

I wrote the book on bitcoin – I understand why it’s a big deal. But…

I get all the bitcoin arguments.

It’s the money of the future. There’s a finite supply in the face of increasing demand, a demand which is global. The technology goes far beyond alternative cash systems. This is about the “S curve” adoption of a new tech – like TVs or mobile phones – a tech, which also happens to be money.

I get all of that. I wrote a book about it, the first by a recognised publisher.

All that stuff is true and more besides. The arguments for bitcoin get stronger and stronger as the narrative of the bull market evolves.

But this is now a mania. All the messages I’m getting about it – and having written that book a lot of people contact me with questions – are not from people who are interested in the new tech.

They’re from people who want in on what is proving to be the most epic bull market in history. They do not want to miss out. FOMO is rife.

One arrived just as I was writing this article. The title read “Urgent Advice Please!” Note the exclamation mark.

It was from an old school friend.

Want to go into Bitcoin big right now. I have started small using Coinbase. What are your views on this and what exchange(s) would you recommend?

Many thanks and hope to catch up properly before long!

This guy is intelligent, experienced financier with 20 years experience in the private banking department at HSBC in Zurich, now working freelance in other fields. Is now, with the mania this evolved, the time to be going big? He clearly thinks so. How much research has he done?

I’m not calling the top. There is a bubble of people calling bitcoin a bubble. Normally bubbles end when the shoe shine boy gets in. This one is the other way round. The shoe shine boys got in early. This one will pop when the institutions get in.

That’s the remarkable reversed psychology of this story. The idea of an alternative money system, a money without governments, appealed first to anyone on the outside. It was especially appealing to those for whom, perhaps, life hadn’t worked out quite as well as they hoped (which is, let’s face it, most of us). Anyone who feels even slightly overlooked, alienated, left out or discontent.

Playing this bull market, a bit like voting for Brexit or even Trump, is a bit like getting one back. There was a similar trait common amongst gold bugs in that bull market. “Haha! Screw you, establishment! Your money system’s going to die. We are the new millionaires!” The more bitcoin has risen, the more this narrative has taken hold.

The mania has caught the zeitgeist of dissatisfaction that is currently sweeping the world.

I’ve made the bullish case for bitcoin many times. I’ve shown how bitcoin could go to $100,000. But I’m no permabull either (although ultimately perma-bullish buy and hold, or HODL as it’s known in bitcoin circles, has been the best investment strategy so far – it always is in bull markets).

In my book back in 2014, I said get familiar with the tech, try it out with small amounts of money, but as an investment the timing is not quite right.

I was right with the call. Bitcoin was in a bear market. When I was writing the book, bitcoin was trading above $500, the bear market took it below $200 a coin. In spring 2016, with bitcoin around $450, I said it’s time to buy.

I’ve made both bullish and bearish cases at different times. But there is something about now – and maybe it’s that email from my friend that did it – that has made me start thinking about what happens when this mania ends.

Plan your exit strategy now. Don’t wait until the stampede starts

When manias end, what is currently euphoria turns to pain. Another person emailed yesterday happily saying they’ve made $2,000 in two weeks, smiley face. How will they feel when they start losing $2,000 in two weeks?

Such pain will be spread among the hordes – and I mean hordes – of inexperienced investors who have only recently got into Bitcoin. Many of these people are kids who’ve never lived through bear markets before. The pain will turn to panic.

The Achilles heel in the whole crypto infrastructure is the point of transfer between fiat and crypto – getting your money in and getting it out. It’s got better, but it is still not easy. One reason so many people have not invested as much as they would have liked has been the simple practical difficulty of actually buying the coins in the first place.

Selling them for fiat, when everybody is trying to do the same thing, and getting your money out, will be harder.
The deeper you’re into crypto – perhaps you’re into monero or dash or some other altcoin – the harder it will be to get out into fiat. The diehards will tell you you never need to leave crypto. That may be so, but many will not feel the same way in a bear market. If there is a rush into the arms of fiat, the point of transfer from crypto to fiat is where the issues are going to be.

At present there is a plethora of buyers. There won’t be when sentiment changes. When Bitcoin comes down, they will all come down. The sector moves as one. The very liquidity issues that have driven the Bitcoin price so high so quickly could work in reverse.

So if you are long Bitcoin or any other crypto, my first bit of advice is this: sell a small amount now. Practise selling. Identify the obstacles in moving your money from crypto to fiat, and learn how to deal with them.
Have your escape strategy clearly mapped out so that, when there is a rush for the exit – and there will be one day – you know exactly what you’re doing and you won’t get caught out.

When liquidity dries up and the tide goes out, that’s the point at which you realise who has been swimming naked. That’s when the scams emerge, the frauds, the excessive debt and margin.

Do the exchanges you use have the wherewithal to deal with an 80% crash (there have been five of these in Bitcoin’s history) and the overwhelming traffic that accompanies a stampede for the exit? Which of these ICOs and altcoins are the genuine article and which are just hype and BS? Which are the ones people will hold onto and which will they drop?

These are the questions you need to be asking now, during the euphoria stage of a bull market. Like I say, I’m not calling the top. I’m saying prepare for the top.

What happens in the aftermath of a bubble such as this bursting? A lot of pain, a lot of recrimination, a lot of new demands for new laws and regulations to make it impossible for such a thing to happen again.

And maybe that forgotten asset will start to look shiny and attractive once again: gold.

Read the full article by Dominic Frisby on MoneyWeek here

News and Commentary

Gold little changed amid firm dollar (Reuters.com)

Bitcoin Futures Trading Brings Crypto Into Mainstream (Reuters.com)

Bitcoin exchange warns customers of system collapse if prices crash (CityAM.com)

Investors Told to Brace for Steepest Rate Hikes Since 2006 (Bloomberg.com)

Malaysia ‘ready’ to send military to Jerusalem if needed (CNBC.com)

US forces could potentially lose next war to Russia or China, warns sobering Rand report (CNBC.com)



Gold’s Time Is Nigh (Bloomberg.com)

Could gold do a bitcoin and hit $10,000 an ounce in 2018? (TheNational.ae)

Finally, Gold Speculators Start To Bail, Setting Up A Big Q1 2018 (DollarCollapse.com)

Saxo Bank predicts Bitcoin at $60,000 before collapse to $1,000 in 2018 (CryptoCoinsNews.com)

Bitcoin Futures Trading Brings Crypto Into Mainstream (Bloomberg.com)

Gold Prices (LBMA AM)