Saturday, March 17, 2018 6:30:20 PM
Saturday Data Breeze
Good Afternoon Ladies and Gentlemen
MMgys
~Welcome To :
~*~Mining & Metals Du Jour~*~ Graveyard Shift~
Always a Pleasure To Have You with Us
MMgys
OK Here We Go >>>>>>>>>>>>>>>>>>
Onwards to the data>>>>>>>>>>>>>>>>>>>>>>>>>
Saturday Matinee Edition>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
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MARCH 16/ A TYPICAL FRIDAY GOLD/SILVER RAID BY OUR BANKERS: GOLD DOWN $5.65 TO $1312.35 AND SILVER DOWN ANOTHER 15 CENTS TO $16.28/ SILVER RECORDS A HUGE INCREASE IN COMEX OPEN INTEREST TO READ OVER 208,500 CONTRACTS/ GOLD ALSO RESPONDS TO A HIGHER OI OF 542000 CONTRACTS GAINING OVER 4000 CONTRACTS DESPITE A LOWER PRICE YESTERDAY/ HUGE EFP ISSUANCE FOR BOTH GOLD AND SILVER TODAY/GOOD SWAMP STORIES FOR YOU TODAY/
March 16, 2018 · by harveyorgan · in Uncat
GOLD: $1312.35 DOWN $5.65
Silver: $16.28 DOWN 15 CENTS
Closing access prices:
Gold $1314.00
silver: $16.33
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: $1324.46 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1316.00
PREMIUM FIRST FIX: $8.46
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SECOND SHANGHAI GOLD FIX: $1326.93
NY GOLD PRICE AT THE EXACT SAME TIME: $1318.10
PREMIUM SECOND FIX /NY:$8.83
SHANGHAI REJECTS NY PRICING OF GOLD.
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ON APRIL 1 2018 I WILL NO LONGER PROVIDE THE LONDON FIXES AS THEY ARE MANIPULATED AND THEY WILL BE PROVIDED 36 HRS AFTER THE FACT AND THUS TOTALLY USELESS TO US!!
LONDON FIRST GOLD FIX: 5:30 am est $1320.05
NY PRICING AT THE EXACT SAME TIME: $1319.95
LONDON SECOND GOLD FIX 10 AM: $1310.10
NY PRICING AT THE EXACT SAME TIME. $1313.15 ????
For comex gold:
MARCH/
NUMBER OF NOTICES FILED TODAY FOR MARCH CONTRACT: 0 NOTICE(S) FOR nil OZ.
TOTAL NOTICES SO FAR:17 FOR 1300 OZ
For silver:
MARCH
48 NOTICE(S) FILED TODAY FOR
240,000 OZ/
Total number of notices filed so far this month: 5131 for 25,655,000 oz
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Bitcoin: BID $8226/OFFER $8,296: UP $9(morning)
Bitcoin: BID/ $8509/offer $8579: UP $291 (CLOSING/5 PM)
end
Let us have a look at the data for today
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In silver, the total open interest ROSE BY A HUMONGOUS SIZED 5343 contracts from 203,158 RISING TO 208,501 DESPITE YESTERDAY’S 11 CENT FALL IN SILVER PRICING. WE OBVIOUSLY HAD ZERO COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER HUGE SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP : 2266 EFP’S FOR MAY AND ZERO FOR ALL OTHER MONTHS AND THUS TOTAL ISSUANCE OF 2266 CONTRACTS. WITH THE TRANSFER OF 2266 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. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24-48 HRS IN THE ISSUING OF EFP’S. THE 2266 CONTRACTS TRANSLATES INTO 11.330 MILLION OZ WITH THE RISE IN OPEN INTEREST IN SILVER AT THE COMEX.
ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF MARCH:
25,449 CONTRACTS (FOR 12 TRADING DAYS TOTAL 25,449 CONTRACTS OR 127.245 MILLION OZ: AVERAGE PER DAY: 2120 CONTRACTS OR 10.603 MILLION OZ/DAY
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 127.245 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 18.14% OF ANNUAL GLOBAL PRODUCTION
ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 614.69 MILLION OZ.
ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ
ACCUMULATION FOR MONTH OF FEBRUARY: 244.945 MILLION OZ
RESULT: WE HAD A HUMONGOUS SIZED GAIN IN COMEX OI SILVER COMEX OF 5343 DESPITE THE 11 CENT FALL IN SILVER PRICE. WE ALSO HAD A HUGE SIZED EFP ISSUANCE OF 2266 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. SPECULATORS CONTINUED THEIR INTEREST IN ATTACKING THE SILVER COMEX FOR PHYSICAL SILVER . FROM THE CME DATA 2266 EFP’S FOR THE MONTH OF MAY WERE ISSUED FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE GAINED 7609 OI CONTRACTS i.e. 2266 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 5343 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 11 CENTS AND A CLOSING PRICE OF $16.53 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A GOOD AMOUNT OF SILVER STANDING AT THE COMEX.
In ounces AT THE COMEX, the OI is still represented by just OVER 1 BILLION oz i.e. 1.043 BILLION TO BE EXACT or 149% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MARCH MONTH/ THEY FILED: 48 NOTICE(S) FOR 240,000 OZ OF SILVER
In gold, the open interest ROSE BY AN STRONG SIZED 4879 CONTRACTS UP TO 542,647 DESPITE THE GOOD SIZED FALL IN PRICE YESTERDAY ( LOSS OF $7.85) HOWEVER FOR TODAY, THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED AN HUMONGOUS SIZED 15,685 CONTRACTS : APRIL SAW THE ISSUANCE OF 14,237 CONTRACTS, JUNE SAW TWO ISSUANCES OF 52 CONTRACTS AND 1400 AND THEN ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 542,647. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S. THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY. THEN THEY ORCHESTRATE THEIR PRIVATE EFP DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE CONTINUE TO WITNESS A HUGE NUMBER OF EFP TRANSFERS TOGETHER WITH THE MASSIVE INCREASE IN GOLD COMEX OI TOGETHER WITH THE TOTAL AMOUNT OF GOLD OUNCES STANDING FOR FEBRUARY COMEX. 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 WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES. IN ESSENCE WE HAVE A HUMONGOUS OI GAIN IN CONTRACTS: 4879 OI CONTRACTS INCREASED AT THE COMEX AND A HUMONGOUS SIZED 15,689 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI GAIN: 20,568 CONTRACTS OR 2,056,800 OZ =63.98 TONNES
YESTERDAY, WE HAD 4699 EFP’S ISSUED.
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MARCH : 106,976 CONTRACTS OR 10,697,600 OZ OR 332.72 TONNES (12 TRADING DAYS AND THUS AVERAGING: 8914 EFP CONTRACTS PER TRADING DAY OR 891,400 OZ/ TRADING DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : SO FAR THIS MONTH IN 10 TRADING DAYS IN TONNES: 332.72 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES
THUS EFP TRANSFERS REPRESENTS 332.72/2550 x 100% TONNES = 13.04% OF GLOBAL ANNUAL PRODUCTION SO FAR IN MARCH ALONE.
ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 1583.10 TONNES
ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018: 653.22 TONNES
ACCUMULATION OF GOLD EFP’S FOR FEBRUARY: 649.45 TONNES
Result: AN STRONG SIZED INCREASE IN OI AT THE COMEX DESPITE THE FALL IN PRICE IN GOLD TRADING YESTERDAY ($7.85 LOSS). HOWEVER, WE HAD ANOTHER FAIR SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 15,689 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX AND YET WE ALSO OBSERVED A HUGE DELIVERY MONTH FOR THE 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 15,689 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 20,568 contracts ON THE TWO EXCHANGES:
15,689 CONTRACTS MOVE TO LONDON AND 5343 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 63.98 TONNES).
we had: 0 notice(s) filed upon for NIL oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD
WITH GOLD DOWN ANOTHER $5.65 : A HUGE CHANGE IN GOLD INVENTORY AT THE GLD / A DEPOSIT OF 4.42 TONNES OF GOLD
Inventory rests tonight: 838.15 tonnes.
SLV/
WITH SILVER DOWN 15 CENTS TODAY:
NO CHANGES IN SILVER INVENTORY AT THE SLV/
/INVENTORY RESTS AT 319.012 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 STRONG 5343 contracts from 203,593 UP TO 208,501 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE FALL IN PRICE OF SILVER (11 CENT FALL WITH RESPECT TO YESTERDAY’S TRADING). OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 2266 EFP CONTRACTS FOR MAY (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM) AND 0 EFP’S FOR ALL OTHER MONTHS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. WE HAD SOME COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE OI GAIN AT THE COMEX OF 5343 CONTRACTS TO THE 2266 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A GAIN OF 7609 OPEN INTEREST CONTRACTS WE STILL HAVE A STRONG AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN MARCH (SEE BELOW). THE NET GAIN TODAY IN OZ ON THE TWO EXCHANGES: 38.045 MILLION OZ!!!
RESULT: A STRONG SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE FALL IN SILVER PRICING YESTERDAY (11 CENTS FALL IN PRICE) . BUT WE ALSO HAD ANOTHER FAIR SIZED 2266 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG SIZED AMOUNT OF SILVER OUNCES STANDING FOR MARCH, DEMAND FOR PHYSICAL SILVER INTENSIFIES AS WE WITNESS SEVERE BACKWARDATION IN SILVER IN LONDON.
(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)FRIDAY MORNING/THURSDAY NIGHT: Shanghai closed DOWN 21.23 POINTS OR 0.65% /Hang Sang CLOSED DOWN 39.13 POINTS OR 0.12% / The Nikkei closed DOWN 127.44 POINTS OR 0.58%/Australia’s all ordinaires CLOSED UP 0.65%/Chinese yuan (ONSHORE) closed DOWN at 6.3259/Oil UP to 61.43 dollars per barrel for WTI and 65.15 for Brent. Stocks in Europe OPENED GREEN . ONSHORE YUAN CLOSED DOWN AT 6.3259 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.3259 /ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR . CHINA IS NOT VERY HAPPY TODAY (WEAKER CURRENCY & MARKETS/AND TRUMP TARIFFS INITIATED/ )
3a)THAILAND/SOUTH KOREA/NORTH KOREA
i)North Korea
b) REPORT ON JAPAN
THE SCANDAL AND COVERUP OF THE KINDERGARTEN LAND CAPER WIDENS IN JAPAN AND MAY IMPLICATE ABE
( zerohedge)
3 c CHINA
China gets tough: they send a message to the corporate sector with a huge 900 million market manipulation fine
(courtesy zerohedge)
4. EUROPEAN AFFAIRS
i)Please pay attention to Tom Luongo. I certainly had my doubts on the Russian spy poisoning. Now Tom Luongo gives his thoughts to this false flag event and why the west is entertaining this: to stop Russian from having any business in the west.
( Tom Luongo)
ii)Germany
Merkel’s new interior minister, Seehofer, states that Islam does not belong in Germany as they will now set new hardline immigration policies. That will go against the mantra of the entire EU body:
( zerohedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
i)Now the west is blaming Russia for continued attacks on USA power grid which started in 2016
( zerohedge)
ii)Russia/UK/USA
The rhetoric between Russia and Great Britain is getting pretty awful as Russia is set to expel UK diplomats in a tit or tat operation. Also Russia is to expand it’s USA blacklist…the crisis deepens
(courtesy zerohedge
iii)More troubles for Russian banks as the Central Bank of Russia is already mulling providing an additional 1 trillion rouble bailout for two banks: Otkritie Bank and B and N Bank.Oddly enough, the predecessor name to Otkritie Bank was called: Shchit-bank. They probably changed the name of the bank after Canada released the televison series Schitt’s Creek starring Eugene Levy.
6 .GLOBAL ISSUES
7. OIL ISSUES
Suddenly crude spikes above 62 dollars for no apparent reason
( zerohedge)
8. EMERGING MARKET
SOUTH AFRICA
Generally they do not go after the head of a government. However today Zuma has been hit with huge corruption charges
( zerohedge)
9. PHYSICAL MARKETS
i)Mike Kosares talks about gold’s relationship to interest rates
( Mike Kosares/GATA)
ii)The City of Plattsburgh New York is the first city to ban bitcoin mining for 18 minutes as I guess energy costs are humongous and are weighing on the city
( zerohedge)
10. USA stories which will influence the price of gold/silver
i)USA economic data for today:
Housing starts and permits plunge in February. Also rental units crashed.
and this is a good time to raise rates 4 or 5 x???
( zerohedge)
ii)Moody’s warn of a deluge of retail bankruptcies are coming…the Amazon effect. Bricks and mortar operations are faltering badly.
(courtesy zerohedge)
iii)Hard data USA Industrial production growth surges 1.1% month/month in February surprising everyone
The report was a 4 standard deviation surge@!!
( zerohedge)
iv)Soft data, U. of Michigan sentiment, provides another dubious report. One of the highlights: the poorest Americans are overjoyed!!
( zerohedge)
v)The flattening yield curve is signalling trouble ahead..( John Rubino)
vi)Now the Dept of Justice is now investigating possible abuses in Well Fargo in their Wealth Management unit
(courtesy zerohedge)
vii)SWAMP STORIES
a) which story is correct? Bloomberg states that Trump has not decided on McMaster’s removal but the Washington post states that Trump has decided to fire McMaster.
the media is just unbelievable!!
( zerohedge)
b) Kelly is in as Trump and Kelly reach a true
(zerohedge)
c) Stormy Daniels now states that she has been physically threatened
( zerohedge)
d)Now we know why the FISC (FISA COURT) judge Contreas recused himself from the Flynn case on Dec 7.2017. The reason: he is a personal friend of Peter Strzok and there are emails between Page and Strzok as to how they could use the judge to destroy Flynn and other Republicans.
quite a story..
( zerohedge)
e)An ex FBI assistant director says that the upcoming Inspector General report will be as doozy
( zerohedge)
Let us head over to the comex:
The total gold comex open interest ROSE BY AN STRONG SIZED 4879 CONTRACTS UP to an OI level 542,647 DESPITE THE FALL IN THE PRICE OF GOLD ($7.85 LOSS/ YESTERDAY’S TRADING). WE, OBVIOUSLY HAD NO COMEX GOLD LIQUIDATION. HOWEVER THE CME REPORTS THAT THE BANKERS ISSUED AN FAIR SIZED COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS. WE HAD A 14,237 EFP’S ISSUED FOR APRIL , AND TWO LOTS FOR JUNE: 52 FOR 1400 AND ZERO FOR ALL OTHER MONTHS: TOTAL 15,689 CONTRACTS. THE OBLIGATION STILL RESTS WITH THE BANKERS ON THESE TRANSFERS. ALSO REMEMBER THAT THERE IS NO DOUBT A HUGE DELAY IN THE ISSUANCE OF EFP’S AND IT PROBABLY TAKES AT LEAST 48 HRS AFTER LONGS GIVE UP THEIR COMEX CONTRACTS FOR THEM TO RECEIVE THEIR EFP’S AS THEY ARE NEGOTIATING THIS CONTRACT WITH THE BANKS FOR A FIAT BONUS PLUS THEIR TRANSFER TO A LONDON FORWARD… THE COMEX IS NOW AN ABSOLUTE FRAUD!!
ON A NET BASIS IN OPEN INTEREST WE GAINED TODAY: 20,568 OI CONTRACTS IN THAT 15,689 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED 4879 COMEX CONTRACTS.
NET GAIN ON THE TWO EXCHANGES: 20,689 contracts OR 2,068,900 OZ OR 63.98 TONNES.
Result: AN STRONG SIZED INCREASE IN COMEX OPEN INTEREST DESPITE THE FALL IN PRICE YESTERDAY (ENDING UP WITH A LOSS OF $7.85.) TOTAL OPEN INTEREST GAIN ON THE TWO EXCHANGES: 20,568 OI CONTRACTS..
We have now entered the non active contract month of MARCH where we LOST 7 contracts LOWERING TO 528 contracts. We had 7 notices served upon yesterday, so in essence we GAINED 0 contacts or ZERO additional oz will stand for delivery at the comex
April saw a LOSS of 86 contracts DOWN to 255,216. May saw A GAIN of 30 contracts to stand at 502. The really big June contract month saw a GAIN of 4152 contracts UP to 186,811 contracts.
We had 0 notice(s) filed upon today for NIL oz
Trading Volumes on the COMEX
PRELIMINARY COMEX VOLUME FOR TODAY:288,030 contracts
CONFIRMED COMEX VOL. FOR YESTERDAY: 379,390 CONTRACTS
comex gold volumes are RISING AGAIN
Here is a summary of the latest gold trading volumes at the Comex per year
certainly the introduction of EFP’s has certainly had an effect:
Meanwhile, gold-trading volumes on the COMEX have never been higher:
end
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And now for the wild silver comex results.
Total silver OI ROSE BY A STRONG SIZED 5343 CONTRACTS FROM 203,158 UP TO 208,501 DESPITE OUR 11 CENT LOSS IN YESTERDAY’S TRADING). HOWEVER,WE WERE ALSO INFORMED THAT WE HAD 2266 EMERGENCY EFP’S FOR MAY ISSUED BY OUR BANKERS AND ZERO FOR ALL OTHER MONTHS TO COMEX LONGS WHO RECEIVED A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON: THE TOTAL EFP’S ISSUED: 2266. 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 AS WE HAVE JUST SEEN IN GOLD TODAY. THIS PROCESS HAS JUST BEGUN IN EARNEST IN SILVER STARTING IN SEPTEMBER 2017. HOWEVER, IN GOLD, WE HAVE BEEN WITNESSING THIS FOR THE PAST 2 YEARS. NICK LAIRD WAS KIND ENOUGH TO SUPPLY US THE TOTAL FOR 2017 GOLD EFP’S AND IT WAS 6600 TONNES FOR THE ENTIRE YEAR. WE OBVIOUSLY HAD ZERO LONG COMEX SILVER LIQUIDATION BUT WE ALSO HAD A HUGE SIZED GAIN IN TOTAL SILVER OI FROM OUR TWO EXCHANGES. WE ARE ALSO WITNESSING A STRONG AMOUNT OF SILVER OUNCES STANDING FOR COMEX METAL IN THIS NON ACTIVE JANUARY AS WELL AS THAT CONTINUAL MIGRATION OF EFPS OVER TO LONDON. ON A PERCENTAGE BASIS THERE ARE MORE EFP’S ISSUED FOR GOLD THAN SILVER. ON A NET BASIS WE GAINED 7609 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED A 5343 CONTRACT GAIN AT THE COMEX COMBINING WITH THE ADDITION OF 2266 OI CONTRACTS NAVIGATING OVER TO LONDON.
NET GAIN ON THE TWO EXCHANGES: 7609 CONTRACTS
AMOUNT STANDING FOR SILVER AT THE COMEX
We are now in the active delivery month of MARCH and here the front month GAINED 9 contracts RISING TO 166 contracts. We had 1 contract filed upon yesterday, so we GAINED 10 contracts or an additional 50,000 OZ will stand in this active delivery month of March.(AS SOMEBODY IS IN URGENT NEED OF CONSIDERABLE PHYSICAL SILVER)
April GAINED 1 contracts RISING TO 421 .
The next big active delivery month for silver will be May and here the OI GAINED 3181 contracts UP to 148,408
We had 48 notice(s) filed for 240,000 OZ for the MARCH 2018 contract for silver
INITIAL standings for MARCH/GOLD
MARCH 16/2018.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
nil oz
Deposits to the Dealer Inventory in oz NIL oz
Deposits to the Customer Inventory, in oz nil OZ
No of oz served (contracts) today
0 notice(s)
NIL OZ
No of oz to be served (notices)
528 contracts
(52800 oz)
Total monthly oz gold served (contracts) so far this month
13 notices
1300 oz
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
we had 0 kilobar transaction/
We had 0 inventory movement at the dealer accounts
total inventory deposit into the dealer accounts: NIL oz
total inventory withdrawals out of dealer accounts; nil oz
we had 0 withdrawals out of the customer account:
total withdrawal: nil oz
we had 0 customer deposit
total customer deposits: nil oz
we had 0 adjustment(s)
total registered or dealer gold: 339,378.269 oz or 10.556 tonnes
total registered and eligible (customer) gold; 9,075,254.780 oz 282.27 tones
THE COMEX IS AGAIN IN STRESS AS ONLY 10.556 TONNES OF GOLD ARE LEFT TO SERVICE DELIVERIES
For MARCH:
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 0 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 2 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 MARCH. contract month, we take the total number of notices filed so far for the month (13) x 100 oz or 0 oz, to which we add the difference between the open interest for the front month of FEB. (528 contracts) minus the number of notices served upon today (0 x 100 oz per contract) equals 54100 oz, the number of ounces standing in this nonactive month of MARCH (1.6821 tonnes)
Thus the INITIAL standings for gold for the MARCH contract month:
No of notices served (13 x 100 oz or ounces + {(528)OI for the front month minus the number of notices served upon today (0 x 100 oz )which equals 54100 oz standing in this nonactive delivery month of March . THERE IS 10.556 TONNES OF REGISTERED GOLD AVAILABLE FOR DELIVERY SO FAR.
WE LOST 0 CONTRACTS OR AN ADDITIONAL NIL OZ WILL STAND FOR DELIVERY IN THIS NON ACTIVE DELIVERY MONTH OF MARCH.
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IN THE LAST 18 MONTHS 72 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE DECEMBER DELIVERY MONTH
MARCH INITIAL standings/SILVER
March 16 2018
Silver Ounces
Withdrawals from Dealers Inventory nil oz
Withdrawals from Customer Inventory
30,017.860 oz
CNT
Deposits to the Dealer Inventory
421,328.240
oz
Brinks
Deposits to the Customer Inventory
600,958.860 oz
CNT
No of oz served today (contracts)
48
CONTRACT(S
(240,000 OZ)
No of oz to be served (notices)
118 contracts
(590,000 oz)
Total monthly oz silver served (contracts) 5131 contracts
(25,655,000 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
we had 1 inventory movement at the dealer side of things
i) Into dealer Brinks: 421,328.240 oz
total dealer deposits: 421,328.240 oz
we had 1 deposits into the customer account
i) CNT: 600,958.860 oz
ii) Into JPMorgan: nil oz
*** JPMorgan for most of 2017 and in 2018 has adding to its inventory almost every single day.
JPMorgan now has 137 million oz of total silver inventory or 53.6% of all official comex silver.
JPMorgan deposited zero into its warehouses (official) today.
total deposits today: 600,958.860 oz
we had 1 withdrawals from the customer account;
i) Out of CNT: 39,017,860
total withdrawals; 30,017.860 oz
we had 1 adjustments
out of CNT: 4989.000 oz was adjusted out of the dealer account and into the customer account of CNT
total dealer silver: 59.419 million
total dealer + customer silver: 256.917 million oz
The total number of notices filed today for the March. contract month is represented by 48 contract(s) FOR 240,000 oz. To calculate the number of silver ounces that will stand for delivery in March., we take the total number of notices filed for the month so far at 5131 x 5,000 oz = 25,655,000 oz to which we add the difference between the open interest for the front month of Mar. (166) and the number of notices served upon today (48 x 5000 oz) equals the number of ounces standing.
.
Thus the INITIAL standings for silver for the March contract month: 5131(notices served so far)x 5000 oz + OI for front month of March(166) -number of notices served upon today (48)x 5000 oz equals 26,245,000 oz of silver standing for the March contract month.
We GAINED an additional 10 contracts or 50,000 additional silver oz will stand for delivery at the comex as somebody was in urgent need of physical silver.
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ESTIMATED VOLUME FOR TODAY: 63.812 CONTRACTS
CONFIRMED VOLUME FOR YESTERDAY: 74,280 CONTRACTS
YESTERDAY’S CONFIRMED VOLUME OF 74,280 CONTRACTS EQUATES TO 374 MILLION OZ OR 53.4% 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.
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
1. Sprott silver fund (PSLV): NAV FALLS TO -2.61% (MARCH 16/2018)
2. Sprott gold fund (PHYS): premium to NAV RISES TO -0.63% to NAV (March 16/2018 )
Note: Sprott silver trust back into NEGATIVE territory at -2.61%-/Sprott physical gold trust is back into NEGATIVE/ territory at -0.63%/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)
3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA): NAV RISES TO -2.96%: NAV 13.59/TRADING 13.20//DISCOUNT 2.96.
END
And now the Gold inventory at the GLD/
MARCH 16/WITH GOLD DOWN $5.65/OUR CROOKS DEPOSITED ANOTHER 4.42 TONNES INTO GLD INVENTORY/INVENTORY RESTS AT 838.15 TONNES
FOR THE WEEK: GOLD LOST $11.80, BUT GOLD INVENTORY ADVANCED:4.42 TONNES
MARCH 15/WITH GOLD DOWN $7.85, NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES
MARCH 14/WITH GOLD DOWN $1.55/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES
MARCH 13/WITH GOLD UP $6.25/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES
MARCH 12/WITH GOLD DOWN $3.00/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES
MARCH 9/WITH GOLD UP $2.25/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES
March 8/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES
MARCH 7/WITH GOLD DOWN 8.00/A SLIGHT CHANGE IN GOLD INVENTORY AT THE GLD/A WITHDRAWAL OF .25 TONNES TO PAY FOR FEES//INVENTORY RESTS AT 833.73 TONNES
MARCH 6/WITH GOLD UP $15.60/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.98 TONNES
March 5/WITH GOLD DOWN $4.10/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.98 TONNES
MARCH 2/WITH GOLD UP $18.70/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.98 TONNES
March 1/WITH GOLD DOWN ANOTHER $12.30/A HUGE CHANGE IN GOLD INVENTORY/ A DEPOSIT OF 2.96 TONNES/INVENTORY RESTS AT 833.98 TONNES
FEB 28/WITH GOLD DOWN ANOTHER 70 CENTS/NO CHANGE IN GOLD INVENTORY/INVENTORY RESTS AT 831.03 TONNES/.
feb 27/WITH GOLD DOWN $13.80 WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 831.03 TONNES
FEB 26/WITH GOLD UP $2.40/WE HAD ANOTHER INVENTORY GAIN/THIS TIME 1.77 TONNE ADDITION TO THE GLD INVENTORY/INVENTORY RESTS AT 831.03 TONNES/WE HAVE HAD 5 INCREASES IN THE PAST 6 TRADING GOLD SESSIONS/
FEB 23/WITH GOLD DOWN $1.15, WE HAD A GOOD INVENTORY GAIN OF 1.47 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 829.26 TONNES
FEB 22/WITH GOLD UP 90 CENTS AGAIN TODAY, WE HAD NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 827.79 TONNES
FEB 21/ WITH THE 90 CENT GAIN WE HAD ANOTHER DEPOSIT OF 3.15 TONNES OF GOLD INTO THE GLD INVENTORY/INVENTORY RESTS TONIGHT AT 827.79 TONNES
Feb 20/WITH GOLD DOWN BY $24.25, THE CROOKS DECIDED THAT THEY HAD BETTER RETURN (DEPOSIT) 3.34 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS TONIGHT AT 824,64 TONNES
Feb 16/WITH GOLD UP BY 25 CENTS, THE CROOKS DECIDED AGAIN TO RAID THE COOKIE JAR BY WITHDRAWING 2.36 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 821.30 TONNES
Feb 15/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 823.66 TONNES
Feb 14/AN ADDITIONAL OF 2.95 TONNES OF GOLD INTO GLD WITH THE HUGE GAIN OF 27.40 IN PRICE/INVENTORY RESTS AT 823.66 TONNES
Feb 13/WITH GOLD UP $3.40 WE HAD NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY REMAINS AT 820.71 TONNES
Feb 12/STRANGE!!WITH GOLD RISING BY 12.00 DOLLARS, THE CROOKS DECIDED AGAIN TO WITHDRAW 5.6 TONNES OF GOLD FOR EMERGENCY USE ELSEWHERE/INVENTORY RESTS AT 820.71 TONNES
Feb 9/AGAIN WITH HUGE TURMOIL ON THE MARKETS, THE CROOKS WITHDREW 2 TONNES OF GOLD FROM THE GLD INVENTORY/INVENTORY RESTS AT 826.31 TONNES
Feb 8/DESPITE THE GOOD GAIN IN PRICE FOR GOLD TODAY/THE CROOKS REMOVED .96 TONNES FROM THE GLD INVENTORY/INVENTORY RESTS AT 828.31 TONNES
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MARCH 16/2018/ Inventory rests tonight at 838.15 tonnes
*IN LAST 343 TRADING DAYS: 102.99 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 273 TRADING DAYS: A NET 53.31 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
end
Now the SLV Inventory
MARCH 16/WITH SILVER DOWN 15 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ.
FOR THE WEEK; SILVER IS DOWN 42 CENTS YET ADDS 943,000 OZ OF SILVER INTO THE SLV/
MARCH 15/WITH SILVER DOWN 11 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ/
MARCH 14/WITH SILVER DOWN 8 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ/
MARCH 13/WITH SILVER UP 10 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ/
MARCH 12/WITH SILVER DOWN 8 CENTS/A BIG CHANGES IN SILVER INVENTORY AT THE SLV/ A DEPOSIT OF 943,000 OZ/INVENTORY RESTS AT 319.012 MILLION OZ/
MARCH 9/WITH SILVER UP 21 CENTS, NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/
March 8/WITH SILVER DOWN 1 CENT TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/
MARCH 7/WITH SILVER DOWN 27 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/
MARCH 6/WITH SILVER UP 38 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/
March 5/WITH SILVER DOWN 11 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/
MARCH 2/WITH SILVER UP 23 CENTS: A HUGE 1.479 MILLION OZ WAS ADDED TO SILVER’S INVENTORY/INVENTORY RESTS AT 318.069 MILLION OZ/
March 1/WITH SILVER DOWN 11 CENTS TODAY/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.590 MILLION OZ./
FEB 28/WITH SILVER DOWN 5 CENTS TODAY/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.590 MILLION OZ/
feb 27/WITH SILVER DOWN 17 CENTS/NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 316.590 MILLION OZ
FEB 26/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.590 MILLION OZ/
FEB 23/WITH SILVER DOWN 10 CENTS TODAY, WE HAD ANOTHER HUGE ADDITION OF 1.315 MILLION OZ/INVENTORY RESTS AT 316.590 MILLION OZ/
fEB 22.2018/WITH SILVER DOWN 1 CENT TODAY, WE HAD NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 315.271 MILLION OZ/
FEB 21/WITH SILVER UP 15 CENTS TODAY, WE HAD A GOOD SIZED INVENTORY ADDITION OF 1.226 MILLION OZ/INVENTORY RESTS AT 315.271 MILLION OZ/
Feb 20/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 314.045 MILLION OZ
Feb 16/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 314.045 MILLION OZ/
Feb 15/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 314.045 MILLION OZ/
Feb 14./NO CHANGE IN SILVER INVENTORY DESPITE THE HUGE RISE IN PRICE/INVENTORY RESTS AT 314.045 MILLION OZ
Feb 13./NO CHANGE IN SILVER INVENTORY TODAY/INVENTORY RESTS AT 314.045 MILLION OZ/
Feb 12/AGAIN, WITH TODAY’S HUGE RISE IN SILVER PRICE, IN TOTAL CONTRAST TO GOLD: NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 314.045 MILLION OZ/
Feb 9/AGAIN WITH TURMOIL ON THE MARKETS, STRANGELY IN TOTAL CONTRAST TO GOLD: NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 314.045 MILLION OZ/
Feb 8/DESPITE THE TURMOIL TODAY AND A PRICE RISE: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 314.045 MILLION OZ/
MARCH 16/2018: NO CHANGES TO SILVER INVENTORY/
Inventory 319.012 million oz
end
6 Month MM GOFO 2.00/ and libor 6 month duration 2.34
Indicative gold forward offer rate for a 6 month duration/calculation:
G0FO+ 2.00%
libor 2.34 FOR 6 MONTHS/
GOLD LENDING RATE: .34%
XXXXXXXX
12 Month MM GOFO
+ 2.40%
LIBOR FOR 12 MONTH DURATION: 2.60
GOFO = LIBOR – GOLD LENDING RATE
GOLD LENDING RATE = +.20
end
And now for the COT report which gives position levels of our major players at the COMEX. However due to the huge amount of EFP contracts issued, this report has no value whatsoever.
But for completeness sake, I am providing it for you:
First gold COT
Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
234,431 66,483 82,713 161,604 350,414 478,748 499,610
Change from Prior Reporting Period
-11,156 4,719 19,902 8,183 -7,910 16,929 16,711
Traders
178 74 88 49 57 262 192
Small Speculators
Long Short Open Interest
48,014 27,152 526,762
1,733 1,951 18,662
non reportable positions Change from the previous reporting period
COT Gold Report – Positions as of Tuesday, March 13, 2018
Our large speculators
those large speculators that have been long in gold pitched (transferred through EFP) a net 11,156 contracts.
those large speculators that have been short in gold added a net 4719 contracts to their short side
Our commercials
those commercials that have been long in gold added a large 8183 contracts to their long side
those commercials that have been short in gold covered (transferred through EFP) 7910 contracts from their short side
Our small speculators
those small speculators that have been long in gold added a net 1733 contracts to their long side
those small speculators that have been short in gold added another 1951 contracts to their short side.
Conclusions: fraud
and now our silver COT
Silver COT Report: Futures
Large Speculators Commercial
Long Short Spreading Long Short
66,707 63,760 28,475 75,362 94,635
-1,979 1,260 4,692 602 -1,935
Traders
102 54 46 39 35
Small Speculators Open Interest Total
Long Short 200,094 Long Short
29,550 13,224 170,544 186,870
189 -513 3,504 3,315 4,017
non reportable positions Positions as of: 159 121
Tuesday, March 13, 2018 © SilverSeek.c
Our large speculators
those large specs that have been long in silver pitched (transferred) 1979 contracts from their long side.
those large specs that have been short in silver added a net 1260 contracts to their short side
Our commercials
those commercials that have been long in silver added another 602 contracts to their long side.
those commercials that have been short in silver covered (transferred) 1935 contracts from their short side
Our small speculators
those small specs that have been long in silver added 189 contracts to their long side
those small specs that have been short in silver covered (transferred) a net 513 contracts from their short side.
conclusions: same as gold.
Major gold/silver trading /commentaries for FRIDAY
GOLDCORE/BLOG/MARK O’BYRNE.
GOLD/SILVER
Buy Silver And Sell Gold Now
16, March
– Buy silver and sell gold now – Frisby
– Gold should cost 15 times as much as silver
– Silver might have disappointed in short term – But it’s time to buy
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News and Commentary
Gold at 2-week low as dollar weighs, investors eye political tensions (MarketWatch.com)
PRECIOUS-Gold steady as political concerns offset rate hike fears (Reuters.com)
Venezuela gold reserve value falls 14 pct in 2017 (Reuters.com)
Stocks Drift, Dollar Drops Amid Political Turmoil: Markets Wrap (Bloomberg.com)
Bitcoin’s ‘Death Cross’ Looms as Strategist Eyes $2,800 Level (Bloomberg.com)
The Many Uses of Gold (GoldSeek.com)
$500 million in gold bullion rains down on Siberia after aircraft cargo bungle (News.com.au)
Tons of gold fall from sky in Russian cargo plane blunder (VIDEO, PHOTOS) (RT.com)
Gold’s relationship to interest rates isn’t so simple – Kosares (Gata.org)
Forget Brexit – here’s the real reason the UK housing market is fragile (MoneyWeek.com)
Gold Prices (LBMA AM)
15 Mar: USD 1,323.35, GBP 949.24 & EUR 1,070.72 per ounce
14 Mar: USD 1,324.95, GBP 949.59 & EUR 1,071.35 per ounce
13 Mar: USD 1,318.70, GBP 948.94 & EUR 1,069.60 per ounce
12 Mar: USD 1,317.25, GBP 950.66 & EUR 1,069.87 per ounce
09 Mar: USD 1,319.35, GBP 955.21 & EUR 1,072.50 per ounce
08 Mar: USD 1,325.40, GBP 955.08 & EUR 1,070.39 per ounce
07 Mar: USD 1,332.50, GBP 960.07 & EUR 1,071.86 per ounce
Silver Prices (LBMA)
15 Mar: USD 16.52, GBP 11.86 & EUR 13.37 per ounce
14 Mar: USD 16.61, GBP 11.88 & EUR 13.42 per ounce
13 Mar: USD 16.51, GBP 11.88 & EUR 13.38 per ounce
12 Mar: USD 16.46, GBP 11.88 & EUR 13.39 per ounce
09 Mar: USD 16.49, GBP 11.92 & EUR 13.40 per ounce
08 Mar: USD 16.48, GBP 11.89 & EUR 13.31 per ounce
07 Mar: USD 16.65, GBP 12.01 & EUR 13.42 per ounce
Recent Market Updates
– Gold Cup At Cheltenham – Gold Is For Winners, Not For the Gamblers
– Hungary’s Gold Repatriation Adds To Growing Protest Against US Dollar Hegemony
– Stock Market Selloff Showed Gold Can Reduce Portfolio Risk
– Gold Protects As Cashless Society Threatens Vulnerable
– Women’s Pension Crisis Highlights Dangers To Savers
– London Property Sees Brave Bet By Norway As Foxtons Profits Plunge
– Gold Does Not Fear Interest Rate Hikes
– RaboDirect Closing – Gold May Protect From Irish Banks Going “Belly Up Again” – Finuncane
– Silver bullion will likely outperform gold bullion going forward
– Gold $10,000? Goldnomics Podcast Quotations and Transcript
– Trump Risks Trade and Currency Wars – Protectionism and Economic War Loom
– Four Key Themes To Drive Gold Prices In 2018 – World Gold Council
– Is The Gold Price Going To $10,000? (Goldnomics Podcast 3)
Mike Kosares talks about gold’s relationship to interest rates
(courtesy Mike Kosares/GATA)
Mike Kosares: Gold’s relationship to interest rates isn’t so simple
Submitted by cpowell on Thu, 2018-03-15 15:35. Section: Daily Dispatches
10:35a CT Thursday, March 15, 2018
Dear Friend of GATA and Gold:
Gold’s relationship to interest rates, USAGold’s Mike Kosares writes today, is a little more complicated than what is described by some pundits and the mainstream financial news media. Gold’s relationship, Kosares writes, is closer to real interest rates — the differential between rates and inflation — and to the commodity complex generally. Kosares’ analysis is headlined “Keep Your Eyes on the Prize” and it’s posted at USAGold here:
http://www.usagold.com/cpmforum/2018/03/15/keepyoureyeontheprize-2/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
END
The City of Plattsburgh New York is the first city to ban bitcoin mining for 18 minutes as I guess energy costs are humongous and are weighing on the city
(courtesy zerohedge)
“We’ve Been Hearing A Lot Of Complaints” – City Passes First US Bitcoin Mining Ban
In sleepy upstate New York, one small post-industrial city has adopted what’s widely believed to be the first bitcoin mining ban in the US. On Thursday evening, the city council in Plattsburgh New York voted unanimously to impose an 18-month moratorium on bitcoin mining, per Motherboard.
As we pointed out earlier this month, two large-scale bitcoin mining operations in the town had become a tremendous drain on the local utilities. This is a problem because,according to the Municipal Electric Utility Association, since the 1950s, the city is allotted a certain amount of inexpensive hydropower generated on the St. Lawrence River. Bitcoin miners are often drawn to areas with inexpensive hydro-power, like the Columbia River basin in the Pacific Northwest.
Mining is the extremely energy-intensive computational process that secures the Bitcoin blockchain and rewards miners with bitcoins, and increasingly, environmentalists are worried that the tremendous amount of energy required to power the bitcoin network could adversely impact the environment. Already, the bitcoin network uses more energy on a daily basis than many countries, including the Republic of Ireland…
The Bitcoin moratorium was proposed by Plattsburgh’s Mayor Colin Read earlier this month after local residents began reporting wildly inflated electricity bills. But unfortunately for residents, the moratorium affects only new commercial Bitcoin operations and will not affect companies that are already mining in the city.
“I’ve been hearing a lot of complaints that electric bills have gone up by $100 or $200,” Read said. “You can understand why people are upset.”
Thanks to a hydroelectric dam on the St. Lawrence River, Plattsburgh has some of the cheapest energy in the US – its mayor claims it’s among the cheapest electricity in the world.
To wit, residents pay only 4.5 cents per kilowatt-hour (the US average is a little over 10 cents). Industrial enterprises, including Bitcoin mines, pay even less, often just 2 cents per kilowatt-hour.
But there’s a catch: The problem is that Plattsburgh only has an allotment of 104 megawatt-hours of electricity per month. The biggest Bitcoin mining operation in Plattsburgh, operated by a Puerto Rican company called Coinmint, uses roughly 10% of the city’s total power budget.
The heavy power use forced city employees to purchase electricity on the open market in January at far higher prices. Those prices could be as high as 37 cents per kwh. That cost was distributed among city residents, with some paying between $100 and $200 more for their electricity that month. While this does occasionally happen during the frigid winter months, this year’s winter has been relatively mild.
“We could use 100 megawatts in two months’ time if we opened up the floodgates,”Read told Motherboard. “And then there would be no cheap power left for our residents. Some of the proposals we’ve been seeing, they want to take 20 or 30 megawatt bites of power, and we don’t have that.”
In the next 18 months, city officials promised to work with locals and newcomer miners to develop a solution. Read suggested a number of possible solutions, such as making miners pay for any overages, or increasing the rate for miners.
According to one miner, either of these arrangements would be welcomed by the mining community, which includes a few locals.
“It would never cost the Plattsburgh citizens any more money to let more miners come in here because the miners are willing to pay for those overages when it’s super cold,” Tom Pillsworth, a Plattsburgh local and partner at the second largest Bitcoin mine in the city, told Motherboard. “The miners are more than willing to pay.”
Now that China’s crackdown on miners has created an exodus to other parts of the world, clashes between locals and miners in areas where hydro-electricity makes power cheap are bound to become even more common. Case in point: Miners in one Washington State town near the Columbia River are waging a kind of guerilla war against locals over their power usage.
But perhaps the Plattsburgh solution will become a template to help the two sides equitably distributed electricity resources before miners are banned from the US, too.
* * *
The State of New York is already fighting back. Case in point: the New York Public Service Commission on Thursday took action to stop miners from taking advantage of the cheap hydroelectric power found in several places upstate, according to Bloomberg.
“If we hadn’t acted, existing residential and commercial customers in upstate communities served by a municipal power authority would see sharp increases in their utility bills,” Commission Chair John Rhodes said in a statement.
The agency is made up of 36 municipal power authorities in the state. In some cases, the miners, which require huge amounts of electricity for data processing, accounted for a third of a municipal utility’s demand, the commission said.
end
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Bitcoin Chops Near $10,000 After Falling From New All-Time High At $19,659.50 Dec. 17, 2017 To Under $6,000 Feb. 6, 2018
Consumer Sentiment in U.S. Jumps to 14-Year High After Tax
cuts
Job openings hit record high at start of 2018
U.S. industrial output rises on gains in manufacturing, mining
U.S. Housing Starts Cooled in February After Robust January
Home-builder confidence drops for third month in a row, NAHB says
U.S. import prices rise more than expected in February
Phill, Empire manufacturing gauges stay solid in March
Jobless Claims in U.S. Decline for Third Time in Four Weeks
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Day In A Chart
Dow Dumps Into Red For March As Yield Curve Crashes To 11-Year Lows
Stocks went into reverse this week…
Chinese stocks were also broadly lower on the week…
Most of European majors were higher on the week, except UK’s FTSE…
Nasdaq underperformed notably on the day…Futures show the overnight dip when McMaster headlines hit…
NOTE – look at the idiotic panic bid, then puke into the close!!)
The Dow is back in the red for March…
The Dow managed to scramble back above its 50% retracement level today, but the jaws of the trendlines are closing in one way or the other…
Bank Stocks were all down on the week (led by a 3% drop in Citi) but of most note is the roundtrip from Friday’s payrolls spike…
VIX ended the week higher (but drifted lower the last couple of days into OPEX)…
Investors sold the short-end of the Treasury curve this week (2y Yield up 3bps) but the rest of the curve was bid (with some selling on Friday after IP beat)…
Breakevens fell notably on the week also…
While the yield curve steepened a little today, on the week it flattened dramatically to a fresh cycle (Oct 2007) low…the 12bps flattening in s2s30s is the 2nds biggest in 4 months…
The Dollar Index managed to scratch out its 4th weekly gain in a row (reversing as China’s new year holiday ended)…
The Russian Ruble fell notably – 2nd biggest weekly drop since July 2017…
The gains in the dollar weighed on gold, silver, and copper but crude snapped higher today (for no good reason), jumping into the green for the week…
Quite a stop-run in the energy complex…
Another ugly week for cryptos, though today saw brief buying-panic…
Finally, we note that Gold remains the only asset-class to have normalized post-Feb-Fiasco…
Pics Of The Day
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Thank You Harvey Honored To Post Your Work Man !
https://www.silverdoctors.com/tag/harvey-organ/
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Thank You Jesse http://jessescrossroadscafe.blogspot.com/
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Thank You GATA http://www.gata.org/
zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
Thank You Zero Hedge https://www.zerohedge.com/
zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
Thank You from MMgys The Love Network <3
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Visit our Friends at GOLDBUGS INDEX https://investorshub.advfn.com/GOLDBUGS-Gold-Spot-(FOREX-XAUUSDO)-COM-GC-Z15-3386/
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and Thank You All for Being With Us This Afternoon
Wishing Everybody a Safe & Happy Weekend <3
GYSLN
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.jpg)
Good Afternoon Ladies and Gentlemen
MMgys
~Welcome To :
~*~Mining & Metals Du Jour~*~ Graveyard Shift~
Always a Pleasure To Have You with Us
MMgys
OK Here We Go >>>>>>>>>>>>>>>>>>
Onwards to the data>>>>>>>>>>>>>>>>>>>>>>>>>
Saturday Matinee Edition>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
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MARCH 16/ A TYPICAL FRIDAY GOLD/SILVER RAID BY OUR BANKERS: GOLD DOWN $5.65 TO $1312.35 AND SILVER DOWN ANOTHER 15 CENTS TO $16.28/ SILVER RECORDS A HUGE INCREASE IN COMEX OPEN INTEREST TO READ OVER 208,500 CONTRACTS/ GOLD ALSO RESPONDS TO A HIGHER OI OF 542000 CONTRACTS GAINING OVER 4000 CONTRACTS DESPITE A LOWER PRICE YESTERDAY/ HUGE EFP ISSUANCE FOR BOTH GOLD AND SILVER TODAY/GOOD SWAMP STORIES FOR YOU TODAY/
March 16, 2018 · by harveyorgan · in Uncat
GOLD: $1312.35 DOWN $5.65
Silver: $16.28 DOWN 15 CENTS
Closing access prices:
Gold $1314.00
silver: $16.33
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: $1324.46 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1316.00
PREMIUM FIRST FIX: $8.46
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SECOND SHANGHAI GOLD FIX: $1326.93
NY GOLD PRICE AT THE EXACT SAME TIME: $1318.10
PREMIUM SECOND FIX /NY:$8.83
SHANGHAI REJECTS NY PRICING OF GOLD.
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ON APRIL 1 2018 I WILL NO LONGER PROVIDE THE LONDON FIXES AS THEY ARE MANIPULATED AND THEY WILL BE PROVIDED 36 HRS AFTER THE FACT AND THUS TOTALLY USELESS TO US!!
LONDON FIRST GOLD FIX: 5:30 am est $1320.05
NY PRICING AT THE EXACT SAME TIME: $1319.95
LONDON SECOND GOLD FIX 10 AM: $1310.10
NY PRICING AT THE EXACT SAME TIME. $1313.15 ????
For comex gold:
MARCH/
NUMBER OF NOTICES FILED TODAY FOR MARCH CONTRACT: 0 NOTICE(S) FOR nil OZ.
TOTAL NOTICES SO FAR:17 FOR 1300 OZ
For silver:
MARCH
48 NOTICE(S) FILED TODAY FOR
240,000 OZ/
Total number of notices filed so far this month: 5131 for 25,655,000 oz
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Bitcoin: BID $8226/OFFER $8,296: UP $9(morning)
Bitcoin: BID/ $8509/offer $8579: UP $291 (CLOSING/5 PM)
end
Let us have a look at the data for today
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In silver, the total open interest ROSE BY A HUMONGOUS SIZED 5343 contracts from 203,158 RISING TO 208,501 DESPITE YESTERDAY’S 11 CENT FALL IN SILVER PRICING. WE OBVIOUSLY HAD ZERO COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER HUGE SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP : 2266 EFP’S FOR MAY AND ZERO FOR ALL OTHER MONTHS AND THUS TOTAL ISSUANCE OF 2266 CONTRACTS. WITH THE TRANSFER OF 2266 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. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24-48 HRS IN THE ISSUING OF EFP’S. THE 2266 CONTRACTS TRANSLATES INTO 11.330 MILLION OZ WITH THE RISE IN OPEN INTEREST IN SILVER AT THE COMEX.
ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF MARCH:
25,449 CONTRACTS (FOR 12 TRADING DAYS TOTAL 25,449 CONTRACTS OR 127.245 MILLION OZ: AVERAGE PER DAY: 2120 CONTRACTS OR 10.603 MILLION OZ/DAY
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 127.245 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 18.14% OF ANNUAL GLOBAL PRODUCTION
ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 614.69 MILLION OZ.
ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ
ACCUMULATION FOR MONTH OF FEBRUARY: 244.945 MILLION OZ
RESULT: WE HAD A HUMONGOUS SIZED GAIN IN COMEX OI SILVER COMEX OF 5343 DESPITE THE 11 CENT FALL IN SILVER PRICE. WE ALSO HAD A HUGE SIZED EFP ISSUANCE OF 2266 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. SPECULATORS CONTINUED THEIR INTEREST IN ATTACKING THE SILVER COMEX FOR PHYSICAL SILVER . FROM THE CME DATA 2266 EFP’S FOR THE MONTH OF MAY WERE ISSUED FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE GAINED 7609 OI CONTRACTS i.e. 2266 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 5343 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 11 CENTS AND A CLOSING PRICE OF $16.53 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A GOOD AMOUNT OF SILVER STANDING AT THE COMEX.
In ounces AT THE COMEX, the OI is still represented by just OVER 1 BILLION oz i.e. 1.043 BILLION TO BE EXACT or 149% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MARCH MONTH/ THEY FILED: 48 NOTICE(S) FOR 240,000 OZ OF SILVER
In gold, the open interest ROSE BY AN STRONG SIZED 4879 CONTRACTS UP TO 542,647 DESPITE THE GOOD SIZED FALL IN PRICE YESTERDAY ( LOSS OF $7.85) HOWEVER FOR TODAY, THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED AN HUMONGOUS SIZED 15,685 CONTRACTS : APRIL SAW THE ISSUANCE OF 14,237 CONTRACTS, JUNE SAW TWO ISSUANCES OF 52 CONTRACTS AND 1400 AND THEN ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 542,647. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S. THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY. THEN THEY ORCHESTRATE THEIR PRIVATE EFP DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE CONTINUE TO WITNESS A HUGE NUMBER OF EFP TRANSFERS TOGETHER WITH THE MASSIVE INCREASE IN GOLD COMEX OI TOGETHER WITH THE TOTAL AMOUNT OF GOLD OUNCES STANDING FOR FEBRUARY COMEX. 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 WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES. IN ESSENCE WE HAVE A HUMONGOUS OI GAIN IN CONTRACTS: 4879 OI CONTRACTS INCREASED AT THE COMEX AND A HUMONGOUS SIZED 15,689 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI GAIN: 20,568 CONTRACTS OR 2,056,800 OZ =63.98 TONNES
YESTERDAY, WE HAD 4699 EFP’S ISSUED.
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MARCH : 106,976 CONTRACTS OR 10,697,600 OZ OR 332.72 TONNES (12 TRADING DAYS AND THUS AVERAGING: 8914 EFP CONTRACTS PER TRADING DAY OR 891,400 OZ/ TRADING DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : SO FAR THIS MONTH IN 10 TRADING DAYS IN TONNES: 332.72 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES
THUS EFP TRANSFERS REPRESENTS 332.72/2550 x 100% TONNES = 13.04% OF GLOBAL ANNUAL PRODUCTION SO FAR IN MARCH ALONE.
ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 1583.10 TONNES
ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018: 653.22 TONNES
ACCUMULATION OF GOLD EFP’S FOR FEBRUARY: 649.45 TONNES
Result: AN STRONG SIZED INCREASE IN OI AT THE COMEX DESPITE THE FALL IN PRICE IN GOLD TRADING YESTERDAY ($7.85 LOSS). HOWEVER, WE HAD ANOTHER FAIR SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 15,689 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX AND YET WE ALSO OBSERVED A HUGE DELIVERY MONTH FOR THE 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 15,689 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 20,568 contracts ON THE TWO EXCHANGES:
15,689 CONTRACTS MOVE TO LONDON AND 5343 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 63.98 TONNES).
we had: 0 notice(s) filed upon for NIL oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD
WITH GOLD DOWN ANOTHER $5.65 : A HUGE CHANGE IN GOLD INVENTORY AT THE GLD / A DEPOSIT OF 4.42 TONNES OF GOLD
Inventory rests tonight: 838.15 tonnes.
SLV/
WITH SILVER DOWN 15 CENTS TODAY:
NO CHANGES IN SILVER INVENTORY AT THE SLV/
/INVENTORY RESTS AT 319.012 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 STRONG 5343 contracts from 203,593 UP TO 208,501 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE FALL IN PRICE OF SILVER (11 CENT FALL WITH RESPECT TO YESTERDAY’S TRADING). OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 2266 EFP CONTRACTS FOR MAY (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM) AND 0 EFP’S FOR ALL OTHER MONTHS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. WE HAD SOME COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE OI GAIN AT THE COMEX OF 5343 CONTRACTS TO THE 2266 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A GAIN OF 7609 OPEN INTEREST CONTRACTS WE STILL HAVE A STRONG AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN MARCH (SEE BELOW). THE NET GAIN TODAY IN OZ ON THE TWO EXCHANGES: 38.045 MILLION OZ!!!
RESULT: A STRONG SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE FALL IN SILVER PRICING YESTERDAY (11 CENTS FALL IN PRICE) . BUT WE ALSO HAD ANOTHER FAIR SIZED 2266 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG SIZED AMOUNT OF SILVER OUNCES STANDING FOR MARCH, DEMAND FOR PHYSICAL SILVER INTENSIFIES AS WE WITNESS SEVERE BACKWARDATION IN SILVER IN LONDON.
(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)FRIDAY MORNING/THURSDAY NIGHT: Shanghai closed DOWN 21.23 POINTS OR 0.65% /Hang Sang CLOSED DOWN 39.13 POINTS OR 0.12% / The Nikkei closed DOWN 127.44 POINTS OR 0.58%/Australia’s all ordinaires CLOSED UP 0.65%/Chinese yuan (ONSHORE) closed DOWN at 6.3259/Oil UP to 61.43 dollars per barrel for WTI and 65.15 for Brent. Stocks in Europe OPENED GREEN . ONSHORE YUAN CLOSED DOWN AT 6.3259 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.3259 /ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR . CHINA IS NOT VERY HAPPY TODAY (WEAKER CURRENCY & MARKETS/AND TRUMP TARIFFS INITIATED/ )
3a)THAILAND/SOUTH KOREA/NORTH KOREA
i)North Korea
b) REPORT ON JAPAN
THE SCANDAL AND COVERUP OF THE KINDERGARTEN LAND CAPER WIDENS IN JAPAN AND MAY IMPLICATE ABE
( zerohedge)
3 c CHINA
China gets tough: they send a message to the corporate sector with a huge 900 million market manipulation fine
(courtesy zerohedge)
4. EUROPEAN AFFAIRS
i)Please pay attention to Tom Luongo. I certainly had my doubts on the Russian spy poisoning. Now Tom Luongo gives his thoughts to this false flag event and why the west is entertaining this: to stop Russian from having any business in the west.
( Tom Luongo)
ii)Germany
Merkel’s new interior minister, Seehofer, states that Islam does not belong in Germany as they will now set new hardline immigration policies. That will go against the mantra of the entire EU body:
( zerohedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
i)Now the west is blaming Russia for continued attacks on USA power grid which started in 2016
( zerohedge)
ii)Russia/UK/USA
The rhetoric between Russia and Great Britain is getting pretty awful as Russia is set to expel UK diplomats in a tit or tat operation. Also Russia is to expand it’s USA blacklist…the crisis deepens
(courtesy zerohedge
iii)More troubles for Russian banks as the Central Bank of Russia is already mulling providing an additional 1 trillion rouble bailout for two banks: Otkritie Bank and B and N Bank.Oddly enough, the predecessor name to Otkritie Bank was called: Shchit-bank. They probably changed the name of the bank after Canada released the televison series Schitt’s Creek starring Eugene Levy.
6 .GLOBAL ISSUES
7. OIL ISSUES
Suddenly crude spikes above 62 dollars for no apparent reason
( zerohedge)
8. EMERGING MARKET
SOUTH AFRICA
Generally they do not go after the head of a government. However today Zuma has been hit with huge corruption charges
( zerohedge)
9. PHYSICAL MARKETS
i)Mike Kosares talks about gold’s relationship to interest rates
( Mike Kosares/GATA)
ii)The City of Plattsburgh New York is the first city to ban bitcoin mining for 18 minutes as I guess energy costs are humongous and are weighing on the city
( zerohedge)
10. USA stories which will influence the price of gold/silver
i)USA economic data for today:
Housing starts and permits plunge in February. Also rental units crashed.
and this is a good time to raise rates 4 or 5 x???
( zerohedge)
ii)Moody’s warn of a deluge of retail bankruptcies are coming…the Amazon effect. Bricks and mortar operations are faltering badly.
(courtesy zerohedge)
iii)Hard data USA Industrial production growth surges 1.1% month/month in February surprising everyone
The report was a 4 standard deviation surge@!!
( zerohedge)
iv)Soft data, U. of Michigan sentiment, provides another dubious report. One of the highlights: the poorest Americans are overjoyed!!
( zerohedge)
v)The flattening yield curve is signalling trouble ahead..( John Rubino)
vi)Now the Dept of Justice is now investigating possible abuses in Well Fargo in their Wealth Management unit
(courtesy zerohedge)
vii)SWAMP STORIES
a) which story is correct? Bloomberg states that Trump has not decided on McMaster’s removal but the Washington post states that Trump has decided to fire McMaster.
the media is just unbelievable!!
( zerohedge)
b) Kelly is in as Trump and Kelly reach a true
(zerohedge)
c) Stormy Daniels now states that she has been physically threatened
( zerohedge)
d)Now we know why the FISC (FISA COURT) judge Contreas recused himself from the Flynn case on Dec 7.2017. The reason: he is a personal friend of Peter Strzok and there are emails between Page and Strzok as to how they could use the judge to destroy Flynn and other Republicans.
quite a story..
( zerohedge)
e)An ex FBI assistant director says that the upcoming Inspector General report will be as doozy
( zerohedge)
Let us head over to the comex:
The total gold comex open interest ROSE BY AN STRONG SIZED 4879 CONTRACTS UP to an OI level 542,647 DESPITE THE FALL IN THE PRICE OF GOLD ($7.85 LOSS/ YESTERDAY’S TRADING). WE, OBVIOUSLY HAD NO COMEX GOLD LIQUIDATION. HOWEVER THE CME REPORTS THAT THE BANKERS ISSUED AN FAIR SIZED COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS. WE HAD A 14,237 EFP’S ISSUED FOR APRIL , AND TWO LOTS FOR JUNE: 52 FOR 1400 AND ZERO FOR ALL OTHER MONTHS: TOTAL 15,689 CONTRACTS. THE OBLIGATION STILL RESTS WITH THE BANKERS ON THESE TRANSFERS. ALSO REMEMBER THAT THERE IS NO DOUBT A HUGE DELAY IN THE ISSUANCE OF EFP’S AND IT PROBABLY TAKES AT LEAST 48 HRS AFTER LONGS GIVE UP THEIR COMEX CONTRACTS FOR THEM TO RECEIVE THEIR EFP’S AS THEY ARE NEGOTIATING THIS CONTRACT WITH THE BANKS FOR A FIAT BONUS PLUS THEIR TRANSFER TO A LONDON FORWARD… THE COMEX IS NOW AN ABSOLUTE FRAUD!!
ON A NET BASIS IN OPEN INTEREST WE GAINED TODAY: 20,568 OI CONTRACTS IN THAT 15,689 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED 4879 COMEX CONTRACTS.
NET GAIN ON THE TWO EXCHANGES: 20,689 contracts OR 2,068,900 OZ OR 63.98 TONNES.
Result: AN STRONG SIZED INCREASE IN COMEX OPEN INTEREST DESPITE THE FALL IN PRICE YESTERDAY (ENDING UP WITH A LOSS OF $7.85.) TOTAL OPEN INTEREST GAIN ON THE TWO EXCHANGES: 20,568 OI CONTRACTS..
We have now entered the non active contract month of MARCH where we LOST 7 contracts LOWERING TO 528 contracts. We had 7 notices served upon yesterday, so in essence we GAINED 0 contacts or ZERO additional oz will stand for delivery at the comex
April saw a LOSS of 86 contracts DOWN to 255,216. May saw A GAIN of 30 contracts to stand at 502. The really big June contract month saw a GAIN of 4152 contracts UP to 186,811 contracts.
We had 0 notice(s) filed upon today for NIL oz
Trading Volumes on the COMEX
PRELIMINARY COMEX VOLUME FOR TODAY:288,030 contracts
CONFIRMED COMEX VOL. FOR YESTERDAY: 379,390 CONTRACTS
comex gold volumes are RISING AGAIN
Here is a summary of the latest gold trading volumes at the Comex per year
certainly the introduction of EFP’s has certainly had an effect:
Meanwhile, gold-trading volumes on the COMEX have never been higher:
end
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And now for the wild silver comex results.
Total silver OI ROSE BY A STRONG SIZED 5343 CONTRACTS FROM 203,158 UP TO 208,501 DESPITE OUR 11 CENT LOSS IN YESTERDAY’S TRADING). HOWEVER,WE WERE ALSO INFORMED THAT WE HAD 2266 EMERGENCY EFP’S FOR MAY ISSUED BY OUR BANKERS AND ZERO FOR ALL OTHER MONTHS TO COMEX LONGS WHO RECEIVED A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON: THE TOTAL EFP’S ISSUED: 2266. 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 AS WE HAVE JUST SEEN IN GOLD TODAY. THIS PROCESS HAS JUST BEGUN IN EARNEST IN SILVER STARTING IN SEPTEMBER 2017. HOWEVER, IN GOLD, WE HAVE BEEN WITNESSING THIS FOR THE PAST 2 YEARS. NICK LAIRD WAS KIND ENOUGH TO SUPPLY US THE TOTAL FOR 2017 GOLD EFP’S AND IT WAS 6600 TONNES FOR THE ENTIRE YEAR. WE OBVIOUSLY HAD ZERO LONG COMEX SILVER LIQUIDATION BUT WE ALSO HAD A HUGE SIZED GAIN IN TOTAL SILVER OI FROM OUR TWO EXCHANGES. WE ARE ALSO WITNESSING A STRONG AMOUNT OF SILVER OUNCES STANDING FOR COMEX METAL IN THIS NON ACTIVE JANUARY AS WELL AS THAT CONTINUAL MIGRATION OF EFPS OVER TO LONDON. ON A PERCENTAGE BASIS THERE ARE MORE EFP’S ISSUED FOR GOLD THAN SILVER. ON A NET BASIS WE GAINED 7609 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED A 5343 CONTRACT GAIN AT THE COMEX COMBINING WITH THE ADDITION OF 2266 OI CONTRACTS NAVIGATING OVER TO LONDON.
NET GAIN ON THE TWO EXCHANGES: 7609 CONTRACTS
AMOUNT STANDING FOR SILVER AT THE COMEX
We are now in the active delivery month of MARCH and here the front month GAINED 9 contracts RISING TO 166 contracts. We had 1 contract filed upon yesterday, so we GAINED 10 contracts or an additional 50,000 OZ will stand in this active delivery month of March.(AS SOMEBODY IS IN URGENT NEED OF CONSIDERABLE PHYSICAL SILVER)
April GAINED 1 contracts RISING TO 421 .
The next big active delivery month for silver will be May and here the OI GAINED 3181 contracts UP to 148,408
We had 48 notice(s) filed for 240,000 OZ for the MARCH 2018 contract for silver
INITIAL standings for MARCH/GOLD
MARCH 16/2018.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
nil oz
Deposits to the Dealer Inventory in oz NIL oz
Deposits to the Customer Inventory, in oz nil OZ
No of oz served (contracts) today
0 notice(s)
NIL OZ
No of oz to be served (notices)
528 contracts
(52800 oz)
Total monthly oz gold served (contracts) so far this month
13 notices
1300 oz
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
we had 0 kilobar transaction/
We had 0 inventory movement at the dealer accounts
total inventory deposit into the dealer accounts: NIL oz
total inventory withdrawals out of dealer accounts; nil oz
we had 0 withdrawals out of the customer account:
total withdrawal: nil oz
we had 0 customer deposit
total customer deposits: nil oz
we had 0 adjustment(s)
total registered or dealer gold: 339,378.269 oz or 10.556 tonnes
total registered and eligible (customer) gold; 9,075,254.780 oz 282.27 tones
THE COMEX IS AGAIN IN STRESS AS ONLY 10.556 TONNES OF GOLD ARE LEFT TO SERVICE DELIVERIES
For MARCH:
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 0 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 2 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 MARCH. contract month, we take the total number of notices filed so far for the month (13) x 100 oz or 0 oz, to which we add the difference between the open interest for the front month of FEB. (528 contracts) minus the number of notices served upon today (0 x 100 oz per contract) equals 54100 oz, the number of ounces standing in this nonactive month of MARCH (1.6821 tonnes)
Thus the INITIAL standings for gold for the MARCH contract month:
No of notices served (13 x 100 oz or ounces + {(528)OI for the front month minus the number of notices served upon today (0 x 100 oz )which equals 54100 oz standing in this nonactive delivery month of March . THERE IS 10.556 TONNES OF REGISTERED GOLD AVAILABLE FOR DELIVERY SO FAR.
WE LOST 0 CONTRACTS OR AN ADDITIONAL NIL OZ WILL STAND FOR DELIVERY IN THIS NON ACTIVE DELIVERY MONTH OF MARCH.
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IN THE LAST 18 MONTHS 72 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE DECEMBER DELIVERY MONTH
MARCH INITIAL standings/SILVER
March 16 2018
Silver Ounces
Withdrawals from Dealers Inventory nil oz
Withdrawals from Customer Inventory
30,017.860 oz
CNT
Deposits to the Dealer Inventory
421,328.240
oz
Brinks
Deposits to the Customer Inventory
600,958.860 oz
CNT
No of oz served today (contracts)
48
CONTRACT(S
(240,000 OZ)
No of oz to be served (notices)
118 contracts
(590,000 oz)
Total monthly oz silver served (contracts) 5131 contracts
(25,655,000 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
we had 1 inventory movement at the dealer side of things
i) Into dealer Brinks: 421,328.240 oz
total dealer deposits: 421,328.240 oz
we had 1 deposits into the customer account
i) CNT: 600,958.860 oz
ii) Into JPMorgan: nil oz
*** JPMorgan for most of 2017 and in 2018 has adding to its inventory almost every single day.
JPMorgan now has 137 million oz of total silver inventory or 53.6% of all official comex silver.
JPMorgan deposited zero into its warehouses (official) today.
total deposits today: 600,958.860 oz
we had 1 withdrawals from the customer account;
i) Out of CNT: 39,017,860
total withdrawals; 30,017.860 oz
we had 1 adjustments
out of CNT: 4989.000 oz was adjusted out of the dealer account and into the customer account of CNT
total dealer silver: 59.419 million
total dealer + customer silver: 256.917 million oz
The total number of notices filed today for the March. contract month is represented by 48 contract(s) FOR 240,000 oz. To calculate the number of silver ounces that will stand for delivery in March., we take the total number of notices filed for the month so far at 5131 x 5,000 oz = 25,655,000 oz to which we add the difference between the open interest for the front month of Mar. (166) and the number of notices served upon today (48 x 5000 oz) equals the number of ounces standing.
.
Thus the INITIAL standings for silver for the March contract month: 5131(notices served so far)x 5000 oz + OI for front month of March(166) -number of notices served upon today (48)x 5000 oz equals 26,245,000 oz of silver standing for the March contract month.
We GAINED an additional 10 contracts or 50,000 additional silver oz will stand for delivery at the comex as somebody was in urgent need of physical silver.
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ESTIMATED VOLUME FOR TODAY: 63.812 CONTRACTS
CONFIRMED VOLUME FOR YESTERDAY: 74,280 CONTRACTS
YESTERDAY’S CONFIRMED VOLUME OF 74,280 CONTRACTS EQUATES TO 374 MILLION OZ OR 53.4% 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.
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
1. Sprott silver fund (PSLV): NAV FALLS TO -2.61% (MARCH 16/2018)
2. Sprott gold fund (PHYS): premium to NAV RISES TO -0.63% to NAV (March 16/2018 )
Note: Sprott silver trust back into NEGATIVE territory at -2.61%-/Sprott physical gold trust is back into NEGATIVE/ territory at -0.63%/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)
3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA): NAV RISES TO -2.96%: NAV 13.59/TRADING 13.20//DISCOUNT 2.96.
END
And now the Gold inventory at the GLD/
MARCH 16/WITH GOLD DOWN $5.65/OUR CROOKS DEPOSITED ANOTHER 4.42 TONNES INTO GLD INVENTORY/INVENTORY RESTS AT 838.15 TONNES
FOR THE WEEK: GOLD LOST $11.80, BUT GOLD INVENTORY ADVANCED:4.42 TONNES
MARCH 15/WITH GOLD DOWN $7.85, NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES
MARCH 14/WITH GOLD DOWN $1.55/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES
MARCH 13/WITH GOLD UP $6.25/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES
MARCH 12/WITH GOLD DOWN $3.00/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES
MARCH 9/WITH GOLD UP $2.25/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES
March 8/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.73 TONNES
MARCH 7/WITH GOLD DOWN 8.00/A SLIGHT CHANGE IN GOLD INVENTORY AT THE GLD/A WITHDRAWAL OF .25 TONNES TO PAY FOR FEES//INVENTORY RESTS AT 833.73 TONNES
MARCH 6/WITH GOLD UP $15.60/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.98 TONNES
March 5/WITH GOLD DOWN $4.10/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.98 TONNES
MARCH 2/WITH GOLD UP $18.70/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 833.98 TONNES
March 1/WITH GOLD DOWN ANOTHER $12.30/A HUGE CHANGE IN GOLD INVENTORY/ A DEPOSIT OF 2.96 TONNES/INVENTORY RESTS AT 833.98 TONNES
FEB 28/WITH GOLD DOWN ANOTHER 70 CENTS/NO CHANGE IN GOLD INVENTORY/INVENTORY RESTS AT 831.03 TONNES/.
feb 27/WITH GOLD DOWN $13.80 WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 831.03 TONNES
FEB 26/WITH GOLD UP $2.40/WE HAD ANOTHER INVENTORY GAIN/THIS TIME 1.77 TONNE ADDITION TO THE GLD INVENTORY/INVENTORY RESTS AT 831.03 TONNES/WE HAVE HAD 5 INCREASES IN THE PAST 6 TRADING GOLD SESSIONS/
FEB 23/WITH GOLD DOWN $1.15, WE HAD A GOOD INVENTORY GAIN OF 1.47 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 829.26 TONNES
FEB 22/WITH GOLD UP 90 CENTS AGAIN TODAY, WE HAD NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 827.79 TONNES
FEB 21/ WITH THE 90 CENT GAIN WE HAD ANOTHER DEPOSIT OF 3.15 TONNES OF GOLD INTO THE GLD INVENTORY/INVENTORY RESTS TONIGHT AT 827.79 TONNES
Feb 20/WITH GOLD DOWN BY $24.25, THE CROOKS DECIDED THAT THEY HAD BETTER RETURN (DEPOSIT) 3.34 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS TONIGHT AT 824,64 TONNES
Feb 16/WITH GOLD UP BY 25 CENTS, THE CROOKS DECIDED AGAIN TO RAID THE COOKIE JAR BY WITHDRAWING 2.36 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 821.30 TONNES
Feb 15/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 823.66 TONNES
Feb 14/AN ADDITIONAL OF 2.95 TONNES OF GOLD INTO GLD WITH THE HUGE GAIN OF 27.40 IN PRICE/INVENTORY RESTS AT 823.66 TONNES
Feb 13/WITH GOLD UP $3.40 WE HAD NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY REMAINS AT 820.71 TONNES
Feb 12/STRANGE!!WITH GOLD RISING BY 12.00 DOLLARS, THE CROOKS DECIDED AGAIN TO WITHDRAW 5.6 TONNES OF GOLD FOR EMERGENCY USE ELSEWHERE/INVENTORY RESTS AT 820.71 TONNES
Feb 9/AGAIN WITH HUGE TURMOIL ON THE MARKETS, THE CROOKS WITHDREW 2 TONNES OF GOLD FROM THE GLD INVENTORY/INVENTORY RESTS AT 826.31 TONNES
Feb 8/DESPITE THE GOOD GAIN IN PRICE FOR GOLD TODAY/THE CROOKS REMOVED .96 TONNES FROM THE GLD INVENTORY/INVENTORY RESTS AT 828.31 TONNES
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MARCH 16/2018/ Inventory rests tonight at 838.15 tonnes
*IN LAST 343 TRADING DAYS: 102.99 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 273 TRADING DAYS: A NET 53.31 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
end
Now the SLV Inventory
MARCH 16/WITH SILVER DOWN 15 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ.
FOR THE WEEK; SILVER IS DOWN 42 CENTS YET ADDS 943,000 OZ OF SILVER INTO THE SLV/
MARCH 15/WITH SILVER DOWN 11 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ/
MARCH 14/WITH SILVER DOWN 8 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ/
MARCH 13/WITH SILVER UP 10 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ/
MARCH 12/WITH SILVER DOWN 8 CENTS/A BIG CHANGES IN SILVER INVENTORY AT THE SLV/ A DEPOSIT OF 943,000 OZ/INVENTORY RESTS AT 319.012 MILLION OZ/
MARCH 9/WITH SILVER UP 21 CENTS, NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/
March 8/WITH SILVER DOWN 1 CENT TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/
MARCH 7/WITH SILVER DOWN 27 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/
MARCH 6/WITH SILVER UP 38 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/
March 5/WITH SILVER DOWN 11 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/
MARCH 2/WITH SILVER UP 23 CENTS: A HUGE 1.479 MILLION OZ WAS ADDED TO SILVER’S INVENTORY/INVENTORY RESTS AT 318.069 MILLION OZ/
March 1/WITH SILVER DOWN 11 CENTS TODAY/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.590 MILLION OZ./
FEB 28/WITH SILVER DOWN 5 CENTS TODAY/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.590 MILLION OZ/
feb 27/WITH SILVER DOWN 17 CENTS/NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 316.590 MILLION OZ
FEB 26/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.590 MILLION OZ/
FEB 23/WITH SILVER DOWN 10 CENTS TODAY, WE HAD ANOTHER HUGE ADDITION OF 1.315 MILLION OZ/INVENTORY RESTS AT 316.590 MILLION OZ/
fEB 22.2018/WITH SILVER DOWN 1 CENT TODAY, WE HAD NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 315.271 MILLION OZ/
FEB 21/WITH SILVER UP 15 CENTS TODAY, WE HAD A GOOD SIZED INVENTORY ADDITION OF 1.226 MILLION OZ/INVENTORY RESTS AT 315.271 MILLION OZ/
Feb 20/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 314.045 MILLION OZ
Feb 16/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 314.045 MILLION OZ/
Feb 15/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 314.045 MILLION OZ/
Feb 14./NO CHANGE IN SILVER INVENTORY DESPITE THE HUGE RISE IN PRICE/INVENTORY RESTS AT 314.045 MILLION OZ
Feb 13./NO CHANGE IN SILVER INVENTORY TODAY/INVENTORY RESTS AT 314.045 MILLION OZ/
Feb 12/AGAIN, WITH TODAY’S HUGE RISE IN SILVER PRICE, IN TOTAL CONTRAST TO GOLD: NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 314.045 MILLION OZ/
Feb 9/AGAIN WITH TURMOIL ON THE MARKETS, STRANGELY IN TOTAL CONTRAST TO GOLD: NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 314.045 MILLION OZ/
Feb 8/DESPITE THE TURMOIL TODAY AND A PRICE RISE: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 314.045 MILLION OZ/
MARCH 16/2018: NO CHANGES TO SILVER INVENTORY/
Inventory 319.012 million oz
end
6 Month MM GOFO 2.00/ and libor 6 month duration 2.34
Indicative gold forward offer rate for a 6 month duration/calculation:
G0FO+ 2.00%
libor 2.34 FOR 6 MONTHS/
GOLD LENDING RATE: .34%
XXXXXXXX
12 Month MM GOFO
+ 2.40%
LIBOR FOR 12 MONTH DURATION: 2.60
GOFO = LIBOR – GOLD LENDING RATE
GOLD LENDING RATE = +.20
end
And now for the COT report which gives position levels of our major players at the COMEX. However due to the huge amount of EFP contracts issued, this report has no value whatsoever.
But for completeness sake, I am providing it for you:
First gold COT
Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
234,431 66,483 82,713 161,604 350,414 478,748 499,610
Change from Prior Reporting Period
-11,156 4,719 19,902 8,183 -7,910 16,929 16,711
Traders
178 74 88 49 57 262 192
Small Speculators
Long Short Open Interest
48,014 27,152 526,762
1,733 1,951 18,662
non reportable positions Change from the previous reporting period
COT Gold Report – Positions as of Tuesday, March 13, 2018
Our large speculators
those large speculators that have been long in gold pitched (transferred through EFP) a net 11,156 contracts.
those large speculators that have been short in gold added a net 4719 contracts to their short side
Our commercials
those commercials that have been long in gold added a large 8183 contracts to their long side
those commercials that have been short in gold covered (transferred through EFP) 7910 contracts from their short side
Our small speculators
those small speculators that have been long in gold added a net 1733 contracts to their long side
those small speculators that have been short in gold added another 1951 contracts to their short side.
Conclusions: fraud
and now our silver COT
Silver COT Report: Futures
Large Speculators Commercial
Long Short Spreading Long Short
66,707 63,760 28,475 75,362 94,635
-1,979 1,260 4,692 602 -1,935
Traders
102 54 46 39 35
Small Speculators Open Interest Total
Long Short 200,094 Long Short
29,550 13,224 170,544 186,870
189 -513 3,504 3,315 4,017
non reportable positions Positions as of: 159 121
Tuesday, March 13, 2018 © SilverSeek.c
Our large speculators
those large specs that have been long in silver pitched (transferred) 1979 contracts from their long side.
those large specs that have been short in silver added a net 1260 contracts to their short side
Our commercials
those commercials that have been long in silver added another 602 contracts to their long side.
those commercials that have been short in silver covered (transferred) 1935 contracts from their short side
Our small speculators
those small specs that have been long in silver added 189 contracts to their long side
those small specs that have been short in silver covered (transferred) a net 513 contracts from their short side.
conclusions: same as gold.
Major gold/silver trading /commentaries for FRIDAY
GOLDCORE/BLOG/MARK O’BYRNE.
GOLD/SILVER
Buy Silver And Sell Gold Now
16, March
– Buy silver and sell gold now – Frisby
– Gold should cost 15 times as much as silver
– Silver might have disappointed in short term – But it’s time to buy
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News and Commentary
Gold at 2-week low as dollar weighs, investors eye political tensions (MarketWatch.com)
PRECIOUS-Gold steady as political concerns offset rate hike fears (Reuters.com)
Venezuela gold reserve value falls 14 pct in 2017 (Reuters.com)
Stocks Drift, Dollar Drops Amid Political Turmoil: Markets Wrap (Bloomberg.com)
Bitcoin’s ‘Death Cross’ Looms as Strategist Eyes $2,800 Level (Bloomberg.com)
The Many Uses of Gold (GoldSeek.com)
$500 million in gold bullion rains down on Siberia after aircraft cargo bungle (News.com.au)
Tons of gold fall from sky in Russian cargo plane blunder (VIDEO, PHOTOS) (RT.com)
Gold’s relationship to interest rates isn’t so simple – Kosares (Gata.org)
Forget Brexit – here’s the real reason the UK housing market is fragile (MoneyWeek.com)
Gold Prices (LBMA AM)
15 Mar: USD 1,323.35, GBP 949.24 & EUR 1,070.72 per ounce
14 Mar: USD 1,324.95, GBP 949.59 & EUR 1,071.35 per ounce
13 Mar: USD 1,318.70, GBP 948.94 & EUR 1,069.60 per ounce
12 Mar: USD 1,317.25, GBP 950.66 & EUR 1,069.87 per ounce
09 Mar: USD 1,319.35, GBP 955.21 & EUR 1,072.50 per ounce
08 Mar: USD 1,325.40, GBP 955.08 & EUR 1,070.39 per ounce
07 Mar: USD 1,332.50, GBP 960.07 & EUR 1,071.86 per ounce
Silver Prices (LBMA)
15 Mar: USD 16.52, GBP 11.86 & EUR 13.37 per ounce
14 Mar: USD 16.61, GBP 11.88 & EUR 13.42 per ounce
13 Mar: USD 16.51, GBP 11.88 & EUR 13.38 per ounce
12 Mar: USD 16.46, GBP 11.88 & EUR 13.39 per ounce
09 Mar: USD 16.49, GBP 11.92 & EUR 13.40 per ounce
08 Mar: USD 16.48, GBP 11.89 & EUR 13.31 per ounce
07 Mar: USD 16.65, GBP 12.01 & EUR 13.42 per ounce
Recent Market Updates
– Gold Cup At Cheltenham – Gold Is For Winners, Not For the Gamblers
– Hungary’s Gold Repatriation Adds To Growing Protest Against US Dollar Hegemony
– Stock Market Selloff Showed Gold Can Reduce Portfolio Risk
– Gold Protects As Cashless Society Threatens Vulnerable
– Women’s Pension Crisis Highlights Dangers To Savers
– London Property Sees Brave Bet By Norway As Foxtons Profits Plunge
– Gold Does Not Fear Interest Rate Hikes
– RaboDirect Closing – Gold May Protect From Irish Banks Going “Belly Up Again” – Finuncane
– Silver bullion will likely outperform gold bullion going forward
– Gold $10,000? Goldnomics Podcast Quotations and Transcript
– Trump Risks Trade and Currency Wars – Protectionism and Economic War Loom
– Four Key Themes To Drive Gold Prices In 2018 – World Gold Council
– Is The Gold Price Going To $10,000? (Goldnomics Podcast 3)
Mike Kosares talks about gold’s relationship to interest rates
(courtesy Mike Kosares/GATA)
Mike Kosares: Gold’s relationship to interest rates isn’t so simple
Submitted by cpowell on Thu, 2018-03-15 15:35. Section: Daily Dispatches
10:35a CT Thursday, March 15, 2018
Dear Friend of GATA and Gold:
Gold’s relationship to interest rates, USAGold’s Mike Kosares writes today, is a little more complicated than what is described by some pundits and the mainstream financial news media. Gold’s relationship, Kosares writes, is closer to real interest rates — the differential between rates and inflation — and to the commodity complex generally. Kosares’ analysis is headlined “Keep Your Eyes on the Prize” and it’s posted at USAGold here:
http://www.usagold.com/cpmforum/2018/03/15/keepyoureyeontheprize-2/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
END
The City of Plattsburgh New York is the first city to ban bitcoin mining for 18 minutes as I guess energy costs are humongous and are weighing on the city
(courtesy zerohedge)
“We’ve Been Hearing A Lot Of Complaints” – City Passes First US Bitcoin Mining Ban
In sleepy upstate New York, one small post-industrial city has adopted what’s widely believed to be the first bitcoin mining ban in the US. On Thursday evening, the city council in Plattsburgh New York voted unanimously to impose an 18-month moratorium on bitcoin mining, per Motherboard.
As we pointed out earlier this month, two large-scale bitcoin mining operations in the town had become a tremendous drain on the local utilities. This is a problem because,according to the Municipal Electric Utility Association, since the 1950s, the city is allotted a certain amount of inexpensive hydropower generated on the St. Lawrence River. Bitcoin miners are often drawn to areas with inexpensive hydro-power, like the Columbia River basin in the Pacific Northwest.
Mining is the extremely energy-intensive computational process that secures the Bitcoin blockchain and rewards miners with bitcoins, and increasingly, environmentalists are worried that the tremendous amount of energy required to power the bitcoin network could adversely impact the environment. Already, the bitcoin network uses more energy on a daily basis than many countries, including the Republic of Ireland…
The Bitcoin moratorium was proposed by Plattsburgh’s Mayor Colin Read earlier this month after local residents began reporting wildly inflated electricity bills. But unfortunately for residents, the moratorium affects only new commercial Bitcoin operations and will not affect companies that are already mining in the city.
“I’ve been hearing a lot of complaints that electric bills have gone up by $100 or $200,” Read said. “You can understand why people are upset.”
Thanks to a hydroelectric dam on the St. Lawrence River, Plattsburgh has some of the cheapest energy in the US – its mayor claims it’s among the cheapest electricity in the world.
To wit, residents pay only 4.5 cents per kilowatt-hour (the US average is a little over 10 cents). Industrial enterprises, including Bitcoin mines, pay even less, often just 2 cents per kilowatt-hour.
But there’s a catch: The problem is that Plattsburgh only has an allotment of 104 megawatt-hours of electricity per month. The biggest Bitcoin mining operation in Plattsburgh, operated by a Puerto Rican company called Coinmint, uses roughly 10% of the city’s total power budget.
The heavy power use forced city employees to purchase electricity on the open market in January at far higher prices. Those prices could be as high as 37 cents per kwh. That cost was distributed among city residents, with some paying between $100 and $200 more for their electricity that month. While this does occasionally happen during the frigid winter months, this year’s winter has been relatively mild.
“We could use 100 megawatts in two months’ time if we opened up the floodgates,”Read told Motherboard. “And then there would be no cheap power left for our residents. Some of the proposals we’ve been seeing, they want to take 20 or 30 megawatt bites of power, and we don’t have that.”
In the next 18 months, city officials promised to work with locals and newcomer miners to develop a solution. Read suggested a number of possible solutions, such as making miners pay for any overages, or increasing the rate for miners.
According to one miner, either of these arrangements would be welcomed by the mining community, which includes a few locals.
“It would never cost the Plattsburgh citizens any more money to let more miners come in here because the miners are willing to pay for those overages when it’s super cold,” Tom Pillsworth, a Plattsburgh local and partner at the second largest Bitcoin mine in the city, told Motherboard. “The miners are more than willing to pay.”
Now that China’s crackdown on miners has created an exodus to other parts of the world, clashes between locals and miners in areas where hydro-electricity makes power cheap are bound to become even more common. Case in point: Miners in one Washington State town near the Columbia River are waging a kind of guerilla war against locals over their power usage.
But perhaps the Plattsburgh solution will become a template to help the two sides equitably distributed electricity resources before miners are banned from the US, too.
* * *
The State of New York is already fighting back. Case in point: the New York Public Service Commission on Thursday took action to stop miners from taking advantage of the cheap hydroelectric power found in several places upstate, according to Bloomberg.
“If we hadn’t acted, existing residential and commercial customers in upstate communities served by a municipal power authority would see sharp increases in their utility bills,” Commission Chair John Rhodes said in a statement.
The agency is made up of 36 municipal power authorities in the state. In some cases, the miners, which require huge amounts of electricity for data processing, accounted for a third of a municipal utility’s demand, the commission said.
end
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Bitcoin Chops Near $10,000 After Falling From New All-Time High At $19,659.50 Dec. 17, 2017 To Under $6,000 Feb. 6, 2018
Consumer Sentiment in U.S. Jumps to 14-Year High After Tax
cuts
Job openings hit record high at start of 2018
U.S. industrial output rises on gains in manufacturing, mining
U.S. Housing Starts Cooled in February After Robust January
Home-builder confidence drops for third month in a row, NAHB says
U.S. import prices rise more than expected in February
Phill, Empire manufacturing gauges stay solid in March
Jobless Claims in U.S. Decline for Third Time in Four Weeks
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Day In A Chart
Dow Dumps Into Red For March As Yield Curve Crashes To 11-Year Lows
Stocks went into reverse this week…
Chinese stocks were also broadly lower on the week…
Most of European majors were higher on the week, except UK’s FTSE…
Nasdaq underperformed notably on the day…Futures show the overnight dip when McMaster headlines hit…
NOTE – look at the idiotic panic bid, then puke into the close!!)
The Dow is back in the red for March…
The Dow managed to scramble back above its 50% retracement level today, but the jaws of the trendlines are closing in one way or the other…
Bank Stocks were all down on the week (led by a 3% drop in Citi) but of most note is the roundtrip from Friday’s payrolls spike…
VIX ended the week higher (but drifted lower the last couple of days into OPEX)…
Investors sold the short-end of the Treasury curve this week (2y Yield up 3bps) but the rest of the curve was bid (with some selling on Friday after IP beat)…
Breakevens fell notably on the week also…
While the yield curve steepened a little today, on the week it flattened dramatically to a fresh cycle (Oct 2007) low…the 12bps flattening in s2s30s is the 2nds biggest in 4 months…
The Dollar Index managed to scratch out its 4th weekly gain in a row (reversing as China’s new year holiday ended)…
The Russian Ruble fell notably – 2nd biggest weekly drop since July 2017…
The gains in the dollar weighed on gold, silver, and copper but crude snapped higher today (for no good reason), jumping into the green for the week…
Quite a stop-run in the energy complex…
Another ugly week for cryptos, though today saw brief buying-panic…
Finally, we note that Gold remains the only asset-class to have normalized post-Feb-Fiasco…
Pics Of The Day
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Thank You Harvey Honored To Post Your Work Man !
https://www.silverdoctors.com/tag/harvey-organ/
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Thank You Jesse http://jessescrossroadscafe.blogspot.com/
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Thank You GATA http://www.gata.org/
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Thank You Zero Hedge https://www.zerohedge.com/
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Thank You from MMgys The Love Network <3
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Visit our Friends at GOLDBUGS INDEX https://investorshub.advfn.com/GOLDBUGS-Gold-Spot-(FOREX-XAUUSDO)-COM-GC-Z15-3386/
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and Thank You All for Being With Us This Afternoon
Wishing Everybody a Safe & Happy Weekend <3
GYSLN
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