Gold Miners ETF (GDX)

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In gold, the open interest ROSE BY A HUMONGOUS SIZED 13,167 CONTRACTS UP TO 471,653
By: Harvey Organ | December 29, 2017

In gold, the open interest ROSE BY A HUMONGOUS SIZED 13,167 CONTRACTS UP TO 471,653 WITH THE STRONG RISE IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($6.50). IN ANOTHER HUGE DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED YESTERDAY FOR TODAY AND IT TOTALED A HUMONGOUS 11,118 CONTRACTS OF WHICH THE MONTH OF FEBRUARY SAW 10,788 CONTRACTS AND APRIL SAW THE ISSUANCE OF 400 CONTRACTS. The new OI for the gold complex rests at 471,653. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE CONTINUE TO WITNESS A HUGE NUMBER OF EFP TRANSFERS TOGETHER WITH THE MASSIVE AMOUNT OF GOLD OUNCES STANDING FOR JANUARY. 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 (BIG RISE IN BOTH GOFO AND SIFO) AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES. IN ESSENCE WE HAVE AN ATMOSPHERIC GAIN OF 24,285 OI CONTRACTS: 13,167 OI CONTRACTS INCREASED AT THE COMEX AND A MONSTROUS SIZED 11,118 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.

https://harveyorganblog.com/2017/12/29/dec-29/

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