Silver Futures Index $SILVER (SILVER)

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AT THE COMEX: BANKERS ISSUE 13632 CONTRACTS FOR GOLD AND SILVER: 1699 CONTRACTS
By: Harvey Organ | December 18, 2017

In silver, the total open interest SURPRISINGLY FELL BY A TINY SIZED 571 contracts from 208,354 FALLING TO 207,945 DESPITE FRIDAY’S 12 CENT RISE IN SILVER PRICING. WE HAD NO APPRECIABLE COMEX LIQUIDATION BUT ON TOP OF THIS, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: A RESPECTABLE 1699 EFP’S FOR MARCH (AND ZERO FOR DEC AND OTHER MONTHS) AND THUS TOTAL ISSUANCE OF 1699 CONTRACTS. HOWEVER THE MOVEMENT ACROSS TO LONDON IS NOT AS SEVERE AS IN GOLD AS THERE SEEMS TO BE A MAJOR PLAYER TAKING ON THE BANKS AT THE COMEX. STILL, WITH THE TRANSFER OF 1699 CONTRACTS, 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 3376 EFP’S FOR SILVER ISSUED. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24 HRS IN THE ISSUING OF EFP’S.

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

36,412 CONTRACTS (FOR 12 TRADING DAYS TOTAL 36,412 CONTRACTS OR 182.06 MILLION OZ: AVERAGE PER DAY: 3,034 CONTRACTS OR 15.172 MILLION OZ/DAY)

RESULT: A TINY SIZED FALL IN OI COMEX DESPITE THE 12 CENT RISE IN SILVER PRICE. HOWEVER WE HAD MINIMAL COMEX SILVER LIQUIDATION BUT WE DID HAVE A FAIR SIZED SIZED EFP ISSUANCE OF 1699 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS: FROM THE CME DATA 1699 EFP’S WERE ISSUED TODAY (FOR MARCH EFP’S) FOR A DELIVERABLE CONTRACT OVER IN LONDON WITH A FIAT BONUS. IN ESSENCE THE DEMAND FOR SILVER PHYSICAL INTENSIFIES GREATLY. WE REALLY GAINED

https://harveyorganblog.com/2017/12/18/dec-18-tax-reform-likely-to-pass-the-crooks-raid-the-gld-cookie-jar-with-a-huge-7-09-tonne-withdrawal-gold-rises-by-7-85-and-silver-rises-by-10-cents-bitcoin-rises-961-dollars-up-to-18608-bid-at/

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