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JD400 Member Level  Tuesday, 04/17/18 12:01:08 AM
Re: the cork post# 33445
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Crunchy Granola Data Suite


Good Morning Ladies and Gentlemen

MMgys


~Welcome To :

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


Always a Pleasure To Have You with Us



MMgys



OK Lets Go >>>>>>>>>>>>>>>>>>

Onwards to the Data News Pics & Fun >>>>>>>>>>>>>>>>>>>>>>>>>



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Gold $1346.00 +$1.60

Silver $16.67 +$0.03

XAU 83.98 -0.12%

HUI 182.48 -0.52%

GDM 637.55 -0.20%

JSE Gold 1097.04 -17.23

USD 89.46 -0.30

Euro 123.78 +0.38

Yen 93.29 +0.19

Oil $66.22 -$1.17

10-Year 2.832% +0.010

T-Bond 145.53125 +0.125

Dow 24573.04 +0.87%

Nasdaq 7156.28 +0.70%

S&P 2677.84 +0.81%

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The Metals:



Gold chopped between $1348.60 and $1341.20 in Asia before it climbed up to $1350.50 in midmorning New York trade and then drifted back lower into the close, but it still ended with a gain of 0.12%. Silver edged down to $16.55 before it rose to as high as $16.77 and then also fell back off, but it still ended with gain of 0.18%.



Euro gold fell to about €1088, platinum lost $1 to $926, and copper climbed 3 cents to about $3.09.



Gold and silver equities waffled near unchanged for much of the morning before they fell to see about 1% losses by midafternoon and then bounced back higher intro the close, but they still ended with modest losses on the day.



The Economy:



U.S. Business Inventories Rise In Line With Estimates In February Nasdaq

U.S. Homebuilder Sentiment Declined in April for a Fourth Month Bloomberg

US retail sales beat expectation, but Empire State survey showed outlook waned sharply Action Forex



Tomorrow brings Housing Starts and Industrial Production.



The Markets:



Oil fell almost 2% and the U.S. dollar index dropped with treasuries as the Dow, Nasdaq, and S&P gained almost 1% on easing concerns about tensions in the Middle East.



Among the big names making news in the market today were Allegiant, Bristol-Myers, Bank of America, and Netflix.



GATA Posts:

IMF loans should be paid in gold, not dollars, Turkey's president says


Submitted by cpowell on Mon, 2018-04-16 21:00. Section: Daily Dispatches

From Ahval News, Gibraltar
Monday, April 16, 2018

Turkish President Recep Tayyip Erdogan today suggested that International Monetary Fund loans should be paid in gold instead of dollars.

"These debts should be in gold, because at this point the karat of gold is unlike anything else. The world is continually putting us under currency pressure with the dollar," the Turkish president was quoted as saying by business news site patronlardunyasi in a speech in Istanbul. "We need to save states and nations from this currency pressure."

The president said Turkey had attracted $180 billion of international investment between 2006 and 2017. ...

... For the remainder of the report:

https://ahvalnews.com/imf-turkey/imf-loans-should-be-paid-gold-not-dolla...

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Prosecution unfair to bullion bank trader, federal judge says

Submitted by cpowell on Mon, 2018-04-16 20:31. Section: Daily Dispatches

4:32p ET Monday, April 16, 2018

Dear Friend of GATA and Gold:

The first of the bullion bank traders being brought to trial on charges of manipulating the U.S. gold and futures markets, Andy Flotron, has been treated unfairly by the prosecution, a federal judge has ruled.

That's the latest report from Australian financial writer Allan Flynn, proprietor of the "Comex, We Have a Problem" blog. Flynn's report is headlined "Man Bites Dog at Flotron's Trial" and it's posted here:

http://comexwehaveaproblem.blogspot.com.au/2018/04/man-bites-dog-at-flot...

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Ronan Manly: Spoofing futures and banging fixes -- same banks and trading desks


Submitted by cpowell on Mon, 2018-04-16 20:09. Section: Daily Dispatches

4:10p ET Monday, April 16, 2018

Dear Friend of GATA and Gold:

Bullion Star gold researcher Ronan Manly, examining the U.S. government prosecution of three bullion banks charged with manipulating and "spoofing" the monetary metals futures markets in the United States, notes today that the banks and traders cited were also simultaneously operating in the daily gold and silver price fixings in London. The U.S. futures markets and the London fixings influence each other's prices, Manly writes, and market regulators would have to be pretty obtuse not to follow the U.S. evidence to London in search of market manipulation there.

Manly's analysis is headlined "Spoofing Futures and Banging Fixes: Same Banks, Same Trading Desks" and it's posted at Bullion Star here:

https://www.bullionstar.com/blogs/ronan-manly/spoofing-futures-banging-f...

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Jay Taylor: How much longer can the American empire run on fake money?


Submitted by cpowell on Mon, 2018-04-16 10:42. Section: Daily Dispatches

6:44a ET Monday, April 16, 2018

Dear Friend of GATA and Gold:

Financial letter writer Jay Taylor's new commentary, "How Much Longer Can the American Empire Run on Fake Money?," cites GATA's work and adds:

"The one currency that would put all nations on an even playing field would be gold. A gold standard would mean the United States would have to earn its way to wealth rather than print money to pay for endless wars, death, and destruction.

"Nixon took us off the international gold standard in 1971 for that very reason, which enabled banks and financial institutions to get rich by impoverishing Americans with debt and job losses funded by bankers who have access to printing-press money. It also made it possible for America to fund endless wars with debt.

"But to keep the dollar viable, its leading competitor had to be held at bay. Hence smackdowns like the one this past Wednesday."

Taylor's commentary has been posted in the clear at Zero Hedge here:

https://www.zerohedge.com/news/2018-04-15/how-much-longer-can-american-e...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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The Miners:



McEwen’s MUX Q1 2018 production results, AngloGold’s AU CEO,

Silvercorp’s SVM spillage incident, and Fortuna’s FSM first

quarter 2018 production results were among the big stories in the

gold and silver mining industry making headlines today.



WINNERS

1. Gold Standard


GSV +3.61% $1.72
\

2. Taseko


TGB +3.36% $1.23
\

3. Nevsun


NSU +1.90% $2.68
\



LOSERS

1. Sibanye


SBGL -4.08% $3.53
\

2. Harmony


HMY -3.83% $2.01
\

3. Pretium


PVG -2.93% $6.96
\

Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.

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datadatadatadatadatadatadatadatadatadatadatadatadatadata
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April COALITION OF FORCES STRIKE CHEMICAL OPERATIONS INSIDE SYRIA/MINOR RESPONSES FROM BOTH CHINA AND RUSSIA/GOLD UP $2.80 TO $1347.90/SILVER UP 7 CENTS TO $16.68/US HAS DECIDED NOT TO WITHDRAW ITS TROOPS FROM SYRIA/USA HOLDING A MASSIVE DRILL OF 4,000 TROOPS JUST OUTSIDE SYRIA IN AQABA/MORE SWAMP STORIES.
April 16, 2018 · by harveyorgan · in Uncategorized · Leave a comment




GOLD: $1347.90 UP $ 2.80 (COMEX TO COMEX CLOSINGS)

Silver: $16.68 UP 7 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1346.00

silver: $16.68

For comex gold:

APRIL/
NUMBER OF NOTICES FILED TODAY FOR APRIL CONTRACT:3 NOTICE(S) FOR 300 OZ.

TOTAL NOTICES SO FAR 663 FOR 66300 OZ (2.062 tonnes)

THE COMEX IS OUT OF GOLD

For silver:

APRIL
120 NOTICE(S) FILED TODAY FOR
600,000 OZ/

Total number of notices filed so far this month: 264 for 1,320,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX



Bitcoin: BID $8026/OFFER $8129: up $180(morning)

Bitcoin: BID/ $7937/offer 8037: up $88 (CLOSING/5 PM)


end

Let us have a look at the data for today

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In silver, the total OPEN INTEREST SURPRISINGLY FELL AGAIN BY A CONSIDERABLE 2350 CONTRACTS FROM 220,167 FALLING TO 217,817 DESPITE FRIDAY’S 17 CENT RISE IN SILVER PRICING. . WE AGAIN HAD CONSIDERABLE COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD A SMALL SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP : 693 EFP’S FOR MAY AND 75 FOR JULY AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE OF 768 CONTRACTS. WITH THE TRANSFER OF 768 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 768 EFP CONTRACTS TRANSLATES INTO 3.84 MILLION OZ ACCOMPANYING THE RISE IN SILVER PRICE AT THE COMEX AND THE STRONG AMOUNT OF SILVER OUNCES STANDING FOR APRIL COMEX DELIVERY.

ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF APRIL:

32,982 CONTRACTS (FOR 11 TRADING DAYS TOTAL 32,982 CONTRACTS) OR 164.910 MILLION OZ: AVERAGE PER DAY: 2,998 CONTRACTS OR 14.991 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 164.910 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 23.55% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 883.395 MILLION OZ.

ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ

ACCUMULATION FOR FEB 2018: 244.95 MILLION OZ

ACCUMULATION FOR MARCH 2018: 236.67 MILLION OZ

RESULT: WE HAD A CONSIDERABLE SIZED LOSS IN COMEX OI SILVER COMEX OF 2350 DESPITE THE 17 CENT GAIN IN SILVER PRICE. WE MUST HAVE HAD SOME SHORTCOVERING BY THE BANKERS AS NOT ALL OF THE LOST COMEX OPEN INTEREST LANDED IN LONDON AS FORWARDS. THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 768 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 693 EFP’S FOR THE MONTH OF MAY AND 75 EFP CONTRACTS FOR JULY, WERE ISSUED FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE LOST 1582 OI CONTRACTS ON THE TWO EXCHANGES: i.e. 768 open interest contracts headed for London (EFP’s) TOGETHER WITH AN DECREASE OF 2350 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE RISE IN PRICE OF SILVER OF 17 CENTS AND A CLOSING PRICE OF $16.67 WITH RESPECT TO FRIDAY’S TRADING. YET WE STILL HAVE A GOOD AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY IN THIS NON ACTIVE APRIL DELIVERY MONTH.

In ounces AT THE COMEX, the OI is still represented by WELL OVER 1 BILLION oz i.e. 1.089 BILLION TO BE EXACT or 156% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT APRIL MONTH/ THEY FILED: 120 NOTICE(S) FOR 600,000 OZ OF SILVER

IN SILVER, WE HAVE NOW SET THE NEW RECORD OF OPEN INTEREST AT 243,411 AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $16.51 ON APRIL 9.2018.

ON THE DEMAND SIDE WE HAVE THE FOLLOWING:

HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY (MARCH 27 MILLION OZ AND APRIL 1.8 MILLION OZ)
HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018
HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION

AND YET WE HAVE A CONTINUAL LOW PRICE OF SILVER DESPITE THE ABOVE HUGE DEMAND. TO ME THE ONLY ANSWER IS THAT WE HAVE SOVEREIGN (CHINA) WHO IS ENDEAVOURING TO GOBBLE UP ALL AVAILABLE PHYSICAL SILVER NO MATTER WHERE, EXACTLY WHAT J.P.MORGAN IS DOING. AND IT IS MY BELIEF THAT J.P.MORGAN IS HOLDING ITS SILVER FOR ITS BENEFICIAL OWNER..THE USA GOVERNMENT WHO IN TURN IS HOLDING THAT SILVER FOR CHINA.(FOR A SILVER LOAN REPAYMENT). IT ALSO LOOKS LIKE BANKER CAPITULATION IN SILVER AS THEY STRUGGLE TO REMOVE SOME OF THEIR HUGE OBLIGATIONS.

In gold, the open interest FELL BY AN HUGE SIZED 7,572 CONTRACTS DOWN TO 506,429 DESPITE THE GOOD SIZED GAIN IN PRICE/FRIDAY’S TRADING ( RISE OF $6.15). WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF APRIL. THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 10,403 CONTRACTS : JUNE SAW THE ISSUANCE OF 10,403 CONTRACTS , MAY SAW THE ISSUANCE OF 0 CONTRACTS AND ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 506,429. 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 GOOD SIZED OI GAIN IN CONTRACTS ON THE TWO EXCHANGES 7572 OI CONTRACTS DECREASED AT THE COMEX AND AN STRONG SIZED 10,403 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI GAIN: 2831 CONTRACTS OR 283100 OZ =8.805 TONNES.

FRIDAY, WE HAD 16,673 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF APRIL : 121,191 CONTRACTS OR 12,119,100 OZ OR 376.95 TONNES (11 TRADING DAYS AND THUS AVERAGING: 11,017 EFP CONTRACTS PER TRADING DAY OR 1,107,000 OZ/ TRADING DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : SO FAR THIS MONTH IN 112 TRADING DAYS IN TONNES: 376.95 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES

THUS EFP TRANSFERS REPRESENTS 376.95/2550 x 100% TONNES = 14.78% OF GLOBAL ANNUAL PRODUCTION SO FAR IN MARCH ALONE.*** THE ACCUMULATION OF EFP CONTRACTS IS RISING PER MONTH.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 2,421.42 TONNES

ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018: 653.22 TONNES

ACCUMULATION OF GOLD EFP’S FOR FEBRUARY 2018: 649.45 TONNES

ACCUMULATION OF GOLD EFP’S FOR MARCH 2018: 741.89 TONNES

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.

Result: A HUGE SIZED DECREASE IN OI AT THE COMEX OF 7,572 DESPITE THE RISE IN PRICE // GOLD TRADING YESTERDAY ($6.15 GAIN). HOWEVER, WE HAD A STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 10,403 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX. 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 10,403 EFP CONTRACTS ISSUED, WE HAD A GOOD SIZED NET GAIN OF 2831 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:

10,403 CONTRACTS MOVE TO LONDON AND 7,572 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 8.805 TONNES).

we had: 3 notice(s) filed upon for 300 oz of gold at the comex.

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

GLD

WITH GOLD UP $2.80 : WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/

Inventory rests tonight: 865.89 tonnes.

SLV/

WITH SILVER UP 7 CENTS TODAY: NO CHANGES/

/INVENTORY RESTS AT 320.196 MILLION OZ/

end

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

1. Today, we had the open interest in SILVER FELL BY A CONSIDERABLE 2350 CONTRACTS from 220,167 DOWN TO 217,817 (AND AWAY FROM THE NEW COMEX RECORD SET YESTERDAY/APRIL 9/2017). THE PREVIOUS RECORD OTHER THAN WAS ESTABLISHED AT: 234,787, SET ON APRIL 21.2017 ALMOST ONE YEAR AGO. THE PRICE OF SILVER ON THAT DAY: $17.89.

THE RATHER LARGE COMEX LOSS OF 2350 CONTRACTS, OCCURRED DESPITE THE CONSIDERABLE RISE IN PRICE OF SILVER (17 CENTS//). THE COMEX OPEN INTEREST HAS FALLEN FOR 5 CONSECUTIVE DAYS. HOWEVER OUR BANKERS ALSO USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 693 EFP CONTRACTS FOR MAY (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM) AND 75 EFP’S FOR JULY AND ALL OTHER MONTHS. TOTAL EFP ISSUANCE: 768 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE OI LOSS AT THE COMEX OF 2350 CONTRACTS TO THE 3768 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A SMALL NET LOSS 1582 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES: 7.910 MILLION OZ!!! AND THIS OCCURRED WITH A RISE IN PRICE OF 17 CENTS???

RESULT: A LARGE SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE RISE IN SILVER PRICING / FRIDAY (17 CENTS/) . BUT WE ALSO HAD ANOTHER SMALL SIZED 768 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG SIZED AMOUNT OF SILVER OUNCES STANDING FOR APRIL, 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 21.06 POINTS OR 0.66% /Hang Sang CLOSED DOWN 22.90 POINTS OR 0.07% / The Nikkei closed UP 118.46 POINTS OR 0.55%/Australia’s all ordinaires CLOSED UP .22% /Chinese yuan (ONSHORE) closed UP at 6.2805/Oil UP to 66.85 dollars per barrel for WTI and 71.70 for Brent. Stocks in Europe OPENED IN THE GREEN . ONSHORE YUAN CLOSED UP AT 6.2805 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.2760 /ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING MUCH STRONGER AGAINST THE DOLLAR /CHINA RETALIATES WITH TARIFFS/ TRUMP RESPONDS TO NEW TARIFFS AND IT NOW LOOKS LIKE A FULL TRADE WAR IS BEGINNING/
SOUTH KOREA/NORTH KOREA



i)North Korea/South Korea
b) REPORT ON JAPAN
3 c CHINA

i)No question about it: China is on the side of Russia in this conflict:

( zerohedge)
ii)China/Russia/USA
What on earth is Trump smoking: accusing Russia and China of currency devaluation when both of the currencies has been on a rise especially the Chinese yuan. The only reason that the Russian rouble is weaker is due to sanctions and the war rattling between the USA and Russia due to what is going on in Syria
( zerohedge)
iii)China is not going to like this: The White House has just banned all USA firms from selling parts to China’s Telecom Giant ZTE
( zerohedge)
4. EUROPEAN AFFAIRS
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
i)Saturday night/Israel/Syria

Israel launches an attack against a military base in Syria/Saturday night following the USA, Br. and French attack Friday night

( zerohedge)

ii)Sunday
USA/RussiaUSA is not withdrawing their troops from Syria until their goals are accomplished…whatever that is. However, to create more ire from the Russians more sanctions are coming on Monday

( zerohedge)
iii)Russia/USA

That did not take long: Trump hits Russia with new sanctions over the Syrian gas attack. More oligarchs are named and this time there are penalties if aid is given by any company or anyone assisting the Nord Stream 2 project. This is getting out of hand:

( zerohedge)

iii b)then Trump for whatever reason halts the plan for more Russian sanctions

( zerohedge)

iv)This is getting scarier by the minute: USA is now launching a huge 4,000 USA troop military drill on the edge of Syria, at the town of Aqaba. Within a tiny distance of Aqaba lies the Israel port of Eilat

( zerohedge)
v)MONDAY/RUSSIA AND USA
Putin warns the west of a global “chaos” if they hit Syria again
( zerohedge)
vi)Russia reveals who staged the Syrian gas attack and provides pictures of the staging. USA hilariously claims that Moscow may have tampered with the site

( zerohedge)
6 .GLOBAL ISSUES
7. OIL ISSUES
8. EMERGING MARKET
9. PHYSICAL MARKETS

i)As we have pointed out to you, the new tax reform law passed by the USA has caused a huge dollar repatriation but that repatriation has caused a massive shortage of dollars in Europe and Asia. We are now witnessing the collapse of the Iranian rial due to that shortage.

(courtesy Radio Farda/GATA)

ii)A good commentary from Jay Taylor: how much longer can the USA hegemony run on fake currency?

( Jay Taylor/GATA)
10. USA stories which will influence the price of gold/silver

i)USA Morning Data

A surprise rebound in retail sales in March with Autos the big winner

( zerohedge)

b)We are continuing to see disappointing soft data reports. Today it was the NY manufacturing Empire report and it fell notably below expectations

(courtesy zerohedge)

ii a)USA Morning trading:

Bonds are just not buying this obvious manipulation

( zerohedge)

iii)Friday night/Trump claims a perfectly executed strike on chemical facilities inside Syria

( zerohedge)

iv)China not to enthralled with the USA airstrikes into Syria, Friday night. Both Germany and Italy refuse to participate

( zerohedge)

v)Syria claims that it’s Russian made defense system intercepted 71 out of the 103 cruise missiles launched. The uSA states that all 103 hit their target.

( zerohedge)

vi)OPCW investigators arrive in Damascus right after the attack and they are stating that it looks like the “White Helmets” or western sympathizers who staged the gas attack

( zerohedge)

vii)David Stockman/part ii and part ii/ on how the Deep State is closing in on the Donald ”

(Part ii/part iii)

viii)An excellent paper by Tom Luongo as he tries to explain to us how the Deep State is controlling Trump and only for the good sense of Mattis, have we avoided war

( Tom Luongo)

ix)SWAMP STORIES

a)Comey just threw Obama and Lynch under the bus with the Clinton email investigation in that in his words: complicated matters

(courtesy zerohedge)

b)Lawyer Michael Cohen refuses to disclose the identity of his “third client” as this soap opera continues

( zerohedge)
Let us head over to the comex:

The total gold comex open interest FELL BY AN LARGE SIZED 7572 CONTRACTS DOWN to an OI level 506,429 DESPITE THE RISE IN THE PRICE OF GOLD ($6.45 GAIN/ FRIDAY’S TRADING). FOR TWO YEARS STRAIGHT WE HAVE NOTICED THAT ONE WEEK PRIOR TO FIRST DAY NOTICE OF AN ACTIVE DELIVERY MONTH THE COMEX OPEN INTEREST CONTRACTS AND EFP’S NOTICES EXPONENTIALLY INCREASE. THE CME REPORTS THAT THE BANKERS ISSUED A HUGE SIZED COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS. WE HAD 10,403 FOR JUNE, 0 CONTRACTS ISSUED FOR MAY AND ZERO FOR ALL OTHER MONTHS: TOTAL 10,403 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 BASED FORWARD.

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: 2831 OI CONTRACTS IN THAT 10,403 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST 7572 COMEX CONTRACTS.

NET GAIN ON THE TWO EXCHANGES: 2831 contracts OR 283,100 OZ OR 8.805 TONNES.

Result: AN LARGE SIZED DECREASE IN COMEX OPEN INTEREST DESPITE THE RISE IN PRICE FRIDAY (ENDING UP WITH A GAIN OF $6.15)THE TOTAL OPEN INTEREST GAIN ON THE TWO EXCHANGES: 2831 OI CONTRACTS..

We have now entered the active contract month of APRIL where we LOST 35 contracts LOWERING TO 1304 contracts. We had 0 notices served yesterday, so we lost 35 contracts or an additional 3500 oz will not stand for delivery in this active delivery month of April and these lost contracts JOIN THEIR BROTHERS AS THEY MORPH INTO EXCHANGE FOR PHYSICAL CONTRACTS (EFP’S) ONCE THEY HAVE BEEN NEGOTIATED, WRITTEN UP AND SEALED. (i.e. London based forwards)

May saw A LOSS of 71 contracts to stand at 1224. The really big June contract month saw a LOSS of 8215 contracts DOWN to 379,704 contracts. The next big delivery month after June is August and here the OI FELL BY 851 contracts DOWN to 48,747.

We had 3 notice(s) filed upon today for 300 oz at the comex

THERE IS NO QUESTION THAT THE COMEX DOES NOT HAVE ANY GOLD TO SATISFY UPON OUR LONGS.
Trading Volumes on the COMEX
PRELIMINARY COMEX VOLUME FOR TODAY:250,404 contracts
CONFIRMED COMEX VOL. FOR YESTERDAY: 281,381 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:

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And now for the wild silver comex results.

Total silver OI FELL AGAIN BY 2350 CONTRACTS FROM 220,167 DOWN TO 217,817 (AND AWAY FROM THE NEW RECORD OI FOR SILVER SET APRIL 9.2018) DESPITE THE 17 CENT RISE IN SILVER PRICING. HOWEVER, WE ALSO WERE ALSO INFORMED THAT WE HAD A SMALL 693 EMERGENCY EFP’S FOR MAY ISSUED BY OUR BANKERS: 75 EFP CONTRACTS ISSUED FOR JULY 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: 768. WE SURPRISINGLY AND SHOCKINGLY AGAIN HAD CONTINUAL LONG COMEX SILVER LIQUIDATION. ON A NET BASIS WE LOST 1582 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED A 2350 CONTRACT LOSS AT THE COMEX COMBINING WITH THE ADDITION OF 768 OI CONTRACTS NAVIGATING OVER TO LONDON.

NET LOSS ON THE TWO EXCHANGES:1582 CONTRACTS

AMOUNT STANDING FOR SILVER AT THE COMEX

We are now in the non active delivery month of April and here the front month LOST 0 contracts STAYING AT 216 contracts. We had 0 notices filed upon so in essence we GAINED 0 contracts or NO additional ounces of silver will stand for delivery in this non active delivery month of April. However I made an error and we gained 600,000 oz on Thursday.

The next big active delivery month for silver will be May and here the OI LOST 3993 contracts DOWN to 104,727. June saw a GAIN of 26 contracts to stand at 99. The next big delivery month for silver is July and here the OI ROSE by 1566 contracts UP to 75,798.

We had 120 notice(s) filed for 600,000 OZ for the APRIL 2018 contract for silver
INITIAL standings for APRIL/GOLD

APRIL 16/2018.
Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
7233.75 oz
Scotia
225 kilobars
Deposits to the Dealer Inventory in oz NIL oz
Deposits to the Customer Inventory, in oz nil OZ
No of oz served (contracts) today
3 notice(s)
n300 OZ
No of oz to be served (notices)
1304 contracts
(130,400 oz)
Total monthly oz gold served (contracts) so far this month
663 notices
66,300 OZ
2.062 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month xxx oz
from the last week of March til today, we have had only 3 small entries for gold and they were all of the “kilobars” variety
From my vantage point, the comex is void of gold. This rarely happens in a delivery month as gold is called upon to deliver.
***
we had 1 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 1 withdrawals out of the customer account:
i) Out of Scotia: 7233.75 oz (225 kilobars)
total withdrawal: 7233.75 oz
we had 0 customer deposit
total customer deposits: nil oz
we had 0 adjustment(s)

For APRIL:
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 3 contract(s) of which 2 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.

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To calculate the INITIAL total number of gold ounces standing for the APRIL. contract month, we take the total number of notices filed so far for the month (663) x 100 oz or 66300 oz, to which we add the difference between the open interest for the front month of APRIL. (1304 contracts) minus the number of notices served upon today (3 x 100 oz per contract) equals 196,700 oz, the number of ounces standing in this active month of APRIL (6.118 tonnes)

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

No of notices served (660 x 100 oz or ounces + {(1304)OI for the front month minus the number of notices served upon today (0 x 100 oz )which equals 196,700 oz standing in this active delivery month of APRIL . THERE IS 12.003 TONNES OF REGISTERED GOLD AVAILABLE FOR DELIVERY SO FAR.

WE LOST 35 COMEX OI CONTRACTS OR 3500 OZ OF GOLD WILL NOT STAND BUT THESE GUYS MORPHED INTO LONDON BASED FORWARDS.
total registered or dealer gold: 385,923.014 oz or 12.003 tonnes
total registered and eligible (customer) gold; 9,051,749.97 oz 281.547 tones
THE COMEX IS AGAIN IN STRESS AS ONLY 12.003 TONNES OF GOLD ARE LEFT TO SERVICE DELIVERIES. THERE IS HARDLY ANY GOLD AT THE COMEX TO SERVE UPON LONGS AND THUS THE REASON FOR THE EFP TRANSFER OVER TO LONDON.

IN THE LAST 18 MONTHS 72 NET TONNES HAS LEFT THE COMEX.

end
And now for silver
AND NOW THE APRIL DELIVERY MONTH
APRIL INITIAL standings/SILVER
APRIL 16/ 2018
Silver Ounces
Withdrawals from Dealers Inventory nil oz
Withdrawals from Customer Inventory
nil
oz
Deposits to the Dealer Inventory
602,312.800
oz
Brinks
Deposits to the Customer Inventory
2353.300 oz
brinks
Delaware
No of oz served today (contracts)
120
CONTRACT(S
600,000 OZ)
No of oz to be served (notices)
96 contracts
(480,000 oz)
Total monthly oz silver served (contracts) 264 contracts

(1,320,000 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 0 inventory movement at the dealer side of things

total dealer deposits: nil oz

we had 2 deposits into the customer account

i) Into JPMorgan: nil oz

*** JPMorgan for most of 2017 and in 2018 has adding to its inventory almost every single day.

JPMorgan now has 140 million oz of total silver inventory or 53.4% of all official comex silver. (140 million/263 million)

JPMorgan did not deposit into its warehouses (official) today.

ii) Brinks: 1000,000

iii) Into Brinks: 1953.300 oz

total deposits today: 2953,300 oz

we had 0 withdrawals from the customer account;

total withdrawals; nil oz

we had 0 adjustment

total dealer silver: 60.055 million

total dealer + customer silver: 263.796 million oz

The total number of notices filed today for the APRIL. contract month is represented by 120 contract(s) FOR 600,000 oz. To calculate the number of silver ounces that will stand for delivery in APRIL., we take the total number of notices filed for the month so far at 264 x 5,000 oz = 1,320,000 oz to which we add the difference between the open interest for the front month of April. (216) and the number of notices served upon today (120 x 5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the APRIL contract month: 264(notices served so far)x 5000 oz + OI for front month of April(216) -number of notices served upon today (120)x 5000 oz equals 1,800,000 oz of silver standing for the April contract month

WE LOST 0 SILVER CONTRACT OR 0 ADDITIONAL OUNCES WILL STAND IN THIS NON ACTIVE DELIVERY MONTH OF APRIL

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ESTIMATED VOLUME FOR TODAY: 85,768 CONTRACTS

CONFIRMED VOLUME FOR YESTERDAY: 74,914 CONTRACTS

YESTERDAY’S CONFIRMED VOLUME OF 74,914 CONTRACTS EQUATES TO 374 MILLION OZ OR 53.5% 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 -2.37% (APRIL 16/2018)
2. Sprott gold fund (PHYS): premium to NAV RISES TO -0.58% to NAV (APRIL 16/2018 )
Note: Sprott silver trust back into NEGATIVE territory at -2.37%-/Sprott physical gold trust is back into NEGATIVE/ territory at -0.58%/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 FALLS TO -2.42%: NAV 13.86/TRADING 13.53//DISCOUNT 2.42.

END

And now the Gold inventory at the GLD/

April 16/WITH GOLD UP$2.80/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 865.89 TONNES/

April 13/WITH GOLD UP $6.15, A HUGE DEPOSIT OF 5.90 TONNES INTO THE GLD INVENTORY/INVENTORY RESTS AT 865.89 TONNES

April 12/WITH GOLD DOWN $17.40/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 859.99 TONNES

April 11/WITH GOLD UP $13.85/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 859,99 TONNES

APRIL 10/WITH GOLD UP $5.25/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 859.99 TONNES

APRIL 9/WITH GOLD UP$4.50/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 859.99 TONNES

APRIL 6/WITH GOLD UP $7.50 ,A HUGE CHANGE IN INVENTORY AT THE GLD/ A DEPOSIT OF 5.90 TONNES/INVENTORY RESTS AT 859.99 TONNES

APRIL 5/WITH GOLD DOWN $8.20 WE HAD TWO ENTRIES: 1) TINY WITHDRAWAL OF .28 TONNES TO PAY FOR FEES AND 2) A DEPOSIT OF 2.06 TONNES//INVENTORY RESTS AT 854.09 TONNES

April 4/WITH GOLD UP $2.90 WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 852.31 TONNES

APRIL 3./WITH GOLD DOWN $9.30 WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 852.31 TONNES

APRIL 2/WITH GOLD UP $19.50, WE HAD A BIG CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 6.19 TONNES/INVENTORY RESTS AT 852.31 TONNES

MARCH 29/WITH GOLD DOWN $3.20 AND OPTIONS EXPIRY FINISHED, WE HAD NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS A 846.12 TONNES

March 28/WITH GOLD DOWN $16.70, ANOTHER RAID ORCHESTRATED, AGAIN NO SURPRISES AS WE WITNESS ANOTHER 1.18 TONNES OF GOLD REMOVED/INVENTORY RESTS AT 846.12 TONNES

MARCH 27/WITH GOLD DOWN $11.70 AND A RAID INITIATED, IT WAS NO SURPRISE TO SEE THAT A MASSIVE WITHDRAWAL OF 3.24 TONNES WAS USED IN THE ABOVE RAID/INVENTORY RESTS AT 847.30 TONNES

MARCH 26./WITH GOLD UP $4.60/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 850.54 TONNES

MARCH 23/WITH GOLD UP $23.30/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 850.54 TONNES

MARCH 22.WITH GOLD UP $5.90, NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 850.54 TONNES/

MARCH 21/WITH GOLD UP $9.65 NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 850.54 TONNES

March 20/WITH GOLD DOWN $5.75, A SURPRISING HUMONGOUS DEPOSIT OF 10.32 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 850.64 TONNES/

SO FAR, FOR THE MONTH OF MARCH, THE GLD HAS ADDED 19.61 TONNES WITH A NET LOSS OF $17.45

March 19/WITH GOLD UP $5.25: ANOTHER HUGE DEPOSIT OF GOLD TO THE TUNE OF 2.07 TONNES/GOLD INVENTORY RESTS TONIGHT AT 840.22 TONNES

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

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APRIL 16/2018/ Inventory rests tonight at 865.89 tonnes

*IN LAST 362 TRADING DAYS: 75.15 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 312 TRADING DAYS: A NET 81.15 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.

end

Now the SLV Inventory/

April 16/WITH SILVER UP 7 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ/

April 13/WITH SILVER UP 17 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ.

April 12/WITH SILVER DOWN 27 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ/

April 11/2018/WITH SILVER UP 16 CENTS: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ/

APRIL 10/WITH GOLD UP 8 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ/

APRIL 9/WITH SILVER UP 12 CENTS/WE HAD NO CHANGES IN SILVER INVENTORY/INVENTORY RESTS AT 320.196 MILLION OZ/

APRIL 6/WITH SILVER UP 4 CENTS, WE HAD A HUGE DEPOSIT OF 1.319 MILLION OZ INTO THE SLV INVENTORY/INVENTORY RESTS AT 320.196 MILLION OZ

APRIL 5/WITH SILVER UP 6 CENTS/NO CHANGES IN INVENTORY AT THE SLV/INVENTORY RESTS AT 318.877 MILLION OZ/

April 4/WITH SILVER DOWN 11 CENTS/A SMALL CHANGE IN SILVER INVENTORY AT THE SLV/ A WITHRAWAL OF 135,000 OZ AND THIS IS PROBABLY TO PAY FOR FEES/INVENTORY RESTS AT 318.877 MILLION OZ/

APRIL 3./WITH SILVER DOWN 16 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ/

APRIL 2/WITH SILVER UP 34 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ/

MARCH 29/WITH SILVER UP 6 CENTS, THE CROOKS DECIDED THAT THEY HAD BETTER ADD SOME 943,000 PAPER OZ TO THEIR INVENTORY/INVENTORY RESTS AT 319.012 MILLION OZ

March 28/WITH SILVER DOWN 27 CENTS/AGAIN NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ

MARCH 27/WITH SILVER DOWN 14 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/

WITH SILVER UP 11 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ/

MARCH 23/WITH SILVER UP 19 CENTS, A HAD A BIG WITHDRAWAL OF 1.602 MILLION OZ.INVENTORY RESTS AT 318.069 MILLION OZ/

MARCH 22/WITH SILVER DOWN ONE CENT, NO CHANGE IN SLV INVENTORY/INVENTORY RESTS AT 319.671 MILLION OZ/

March 21/WITH SILVER UP 21 CENTS/NO CHANGE IN SLV INVENTORY/INVENTORY RESTS AT 319.671 MILLION OZ/

March 20/WITH SILVER DOWN 13 CENTS/NO CHANGE IN SLV INVENTORY/INVENTORY RESTS AT 319.671 MILLION OZ/

March 19/WITH SILVER UP 5 CENTS, THE SLV ADDS A SMALL 659,000 OZ TO ITS INVENTORY/INVENTORY RESTS AT 319.671 MILLION OZ/

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/

HAD ANOTHER HUGE ADDITION OF 1.315 MILLION OZ/INVENTORY RESTS AT 316.590 MILLION OZ/

APRIL 16/2018: A NO CHANGES IN SILVER INVENTORY:
Inventory 320.196 million oz

end

6 Month MM GOFO 1.99/ and libor 6 month duration 2.49

Indicative gold forward offer rate for a 6 month duration/calculation:

G0FO+ 1.99%

libor 2.49 FOR 6 MONTHS/

GOLD LENDING RATE: .50%

XXXXXXXX

12 Month MM GOFO
+ 2.73%

LIBOR FOR 12 MONTH DURATION: 2.46

GOFO = LIBOR – GOLD LENDING RATE

GOLD LENDING RATE = +.27

end
Major gold/silver trading /commentaries for MONDAY

GOLDCORE/BLOG/MARK O’BYRNE.

GOLD/SILVER
Global Debt Bubble Hits New All Time High – One Quadrillion Reasons To Buy Gold

16, April

– Global debt bubble hits new all time high – over $237 trillion
– Global debt increased 10% or $21 tn in 2017 to nearly a quarter quadrillion USD
– Increase in debt equivalent to United States’ ballooning national debt
– Global debt up $50 trillion in decade & over 327% of global GDP
– $750 trillion of bank derivatives means global debt over $1 quadrillion
– Gold will be ‘store of value’ in coming economic contraction
– Global debt is the mother of all bubbles

Source: Bloomberg

Global debt has now reached over 327% of global GDP, $237 trillion. Prior to the financial crisis it was less that $150 trillion. The amount by which it has surged in just one year is the same amount as the ballooning national debt of the United States.

The response of our leaders, central bankers and financial thinkers to this latest data?

It was good news as it showed that thanks to global growth the ratio of debt-to-gross domestic product fell for the fifth consecutive quarter. No irony in the fact that the economic growth is entirely funded by debt itself – adding another shaky layer to the house of cards.

Christine Lagarde said earlier this week:

The bottom line is that high debt burdens have left governments, companies, and households more vulnerable to a sudden tightening of financial conditions. This potential shift could prompt market corrections, debt sustainability concerns, and capital flow reversals in emerging markets.

A sudden tightening of financial conditions is inevitable. The latest FOMC minutes released yesterday showed that members plan to increase interest rates at a faster rate than previously expected. This was inevitable given the loose monetary policy that central banks have been enjoying for the last decade.

As Jim Rickards summarises:

We hear that the U.S. is facing a debt crisis because budget deficits are out of control. We hear that China is facing a debt crisis because of wasted infrastructure investment, bank Ponzi schemes and bad loans to money-losing state-sponsored enterprises.

Next we hear that emerging markets are facing a separate debt crisis because of dollar-denominated debt that cannot be repaid if higher U.S. interest rates lead to a stronger dollar.

In short, the whole world seems to be facing a debt crisis in various forms.

Global debt is primarily made up of three groups: non financial corporates, governments and households. Each as indebted as the next, each as addicted as the next with no detox programme on offer.

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Hey We Got All Night

.............To Set The World Right


MMgys



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Turnaround lifts mood as miners gather

Sources of investment in exploration shift in Alaska, while the state's producing mines boost output on strength of higher prices


For the first time in five long years, the mood at the recently held Alaska Miners Association Convention in Anchorage was buoyant, the result of a slow but steady turnaround on mineral investments in the state.

Additional new corporate interest in the state emerged during the past 30 days, and sources of exploration funds coming to Alaska continue to shift, with estimates for 2017 suggesting that 62 percent of this financing comes from Canadian concerns, 18 percent from U.S.-based concerns and a surprising 20 percent from Australia.

Strong base metal prices are contributing to profitable production from the Red Dog and Greens Creek mines, while stable precious metal prices support strong mining operations at Fort Knox, Pogo, Kensington and Greens Creek. The short and long-term view of most of the industry is a slowly strengthening industry demand for Alaska's raw materials.

One final sure sign of a turnaround: At the recent RBC Annual Senior Gold Conference, major gold producers played down any significant interest in new mergers or acquisitions, making me think they are all looking for just that sort of opportunity!

Western Alaska

CopperBank Resources Corp. announced additional results from a 13 diamond-drill-hole, 3,690-meter, 2017 drill program on its 100-percent- controlled Pyramid copper project near Sand Point.

Significant results include hole 17PY037, which is entirely outside the historical resource envelope and was mineralized from 7.3 meters over its entire length, returning 324.3 meters grading 0.31 percent copper.

In addition, 17PY035 intersected a total of 251 meters grading 0.41 percent copper, including a near-surface intercept of 137 meters of 0.45 percent copper and a second deeper interval of 114 meters of 0.37 percent copper; and hole 17PY036 intersected 179.5 meters of 0.37 percent copper.

The results from 17PY035 and previously reported drill holes confirm a minimum length of 800 meters for the Main Zone.

The company also announced that it has commissioned a remote sensing radar and hyperspectral survey of the project to help map structural and alteration features of the deposit.

Interior Alaska

Kinross Gold Corp. announced third-quarter 2017 results from the Fort Knox mine near Fairbanks.

The mine produced 101,041 ounces of gold at a cost of $641 per oz in the three months that ended Sept. 30, compared with 110,396 oz of gold at a cost of $743/oz in the year-previous period.

Production decreased slightly compared to the same period a year ago, largely due to lower amounts of tonnage placed on the heap leach pad.

Operating costs decreased year over year due to a decrease in operating waste mined and lower contractor costs as the site began to transition to the completing of more maintenance functions in-house.

The mill treated 3,228,000 metric tons of ore grading 0.88 grams-per-metric-ton gold with a mill recovery of 81 percent.

The heap leach saw additions of 6.088 million metric tons of ore, grading 0.26 g/t gold.

Freegold Ventures Ltd. reported results from its 2017 drilling program on the Shorty Creek copper-molybdenum-gold prospect near Livengood.

Significant results from the Hill 1835 prospect include hole SC17-01, which returned 360 meters grading 0.24 percent copper, 0.07 g/t gold and 4.04 grams per metric ton silver, hole SC17-02, which intersected 339 meters grading 0.30 percent copper, 0.05 g/t gold and 5.72 g/t silver, and hole SC17-03, which intersected 105.2 meters grading 0.27 percent copper, 0.05 g/t gold and 6.75 g/t silver.

Nine holes have been drilled within the 700 x 1,000-meter magnetic high at Hill 1835, which remains open both laterally and at depth.

Porphyry-style mineralization is associated with potassic and pervasive sericite alteration, within hornfelsed sedimentary rocks that are cut by porphyritic dykes and sills.

The copper mineralization is primarily chalcopyrite with subordinate Bornite.

Assays are pending on one hole completed in the center of a 2,500 meter by 2,000-meter magnetic anomaly at the Steel Creek prospect, 2,500 meters north of the Hill 1835 area.

Contango ORE Inc. announced that Peak Gold LLC, the company's joint venture with Royal Alaska, a wholly-owned subsidiary of Royal Gold Inc. has funded $28.7 million to date of their optional $30 million capital investment in the joint venture with the phase 3 2017 limited drilling program at its Peak Gold project near Tok.

The phase 3 program, completed in mid-October, consisted of eight holes offsetting the previously announced West Peak Extension area, and while five of these holes intersected gold-bearing intervals, the thickness was not comparable to the phase 2 program hole that originally generated the interest in the zone.

The company also announced that a stream sediment sampling program was completed on its Noah block, west of the main resource area.

The sampling identified three areas with anomalous gold or gold/copper stream sediments where follow-up work is warranted.

Alaska Range

Alaska newcomer Quantum Resources Ltd. reported the acquisition of several prospects in the western Alaska Range.

The company has indicated that it acquired the right to earn into several prospects from AK Minerals Pty Ltd., including the Chip-Loy nickel-copper-cobalt sulfide project and the Estelle gold project.

The Chip-Loy prospect contains disseminated to massive sulfides, mainly pyrrhotite and chalcopyrite, with minor cubanite and sphalerite, and trace galena, bravoite, violarite, tetradymite as well as undetermined cobalt-nickel-iron arsenides.

The prospect lies at the contact of a magnetic high and magnetic low zone adjacent to a southeast-northwest trending fault extending into the Roberts prospect.

At Estelle, a series of gold and copper-gold prospects occur over a 20-mile north-south distance in Jurassic and Cretaceous marine sedimentary rocks that are intruded by the 65-66 Ma granodiorite of Mount Estelle plutonic complex.

Under terms of the deal, Quantum will pay about US$155,000 in cash and can earn a 30 percent initial interest by spending US$300,000 on exploration over the first 12 months from the date of exercise of the option, a further 21 percent interest through spending an additional US$1million on exploration over the first 2 years from the date of exercise of the option, and a further 19 percent interest through spending an additional US$2 million on exploration in years three and four from the date of the exercise of the option.

Quantum can continue to fund the projects through to completion of a bankable feasibility study, at which point if AK Minerals decides not to contribute proportionately, its interest will dilute to a minimum 15 percent and a 2 percent net smelter return production royalty.

Welcome to Alaska Quantum Resources Limited!

Southeast Alaska

Hecla Mining Company announced final production results for the third quarter of 2017 at its Greens Creek mine in Southeast Alaska.

Output totaled 2,344,315 oz of silver and 12,563 oz of gold, compared with 2,445,328 oz of silver and 11,988 oz of gold, in the third quarter of 2016.

The mill operated at an average of 2,391 short tons per day, a life-of-mine record for the operation.

The average grade of ore mined during the quarter was 13.65 ounces per short ton silver, compared with 15.4 oz/t silver in the year-previous period.

Average by-product grades were 0.089 oz/t gold, 2.77 percent lead and 7.47 percent zinc.

During the third quarter, the mine produced 2,344,315 ounces of silver, 12,563 oz gold, 4,851 tons lead and 14,325 tons zinc.

The cash cost per silver ounce dropped to a negative US15 cents, down dramatically from US$4.80 in the third quarter 2016.

Less silver production resulted from lower grades due to mine sequencing.

Lower costs were attributed to higher base metal prices and record mill production rates.

2017 silver production is estimated to total 7.8 million to 8.2 million oz, while gold production is pegged at 51,000-53,000 oz. On the exploration front, drilling in the third quarter targeted the Deep 200 South, East Ore, Gallagher and the Upper Plate zones.

Exploration drilling on the Deep 200 South Zone extended the 200 South Bench mineralization south of current resources.

Drilling on the East Ore, Gallagher and Upper Plate zones upgraded and expanded the known resource.

Previous drilling on the East Ore, Gallagher and Upper Plate zones also delivered strong assay results.

Significant intercepts in the East zone include 75.1 oz/t silver, 0.16 oz/t gold, 5.32 percent zinc and 2.67 percent lead over 9.5 feet in an area without previously identified resources and another exploration drill hole intercepted 11.0 oz/t silver, 0.13 oz/t gold, 12.8 percent zinc and 7.3 percent lead over 7.7 feet within an area of no previously identified mineralization.

Additional exploration is planned for the East zone in 2018.

Significant intervals from the Upper Plate Ore Zone included 75.2 oz/t silver, 0.09 oz/t gold, 6 percent zinc and 3 percent lead over 5.4 feet.

This mineralization is close to underground mine infrastructure and only 300 feet below the mine portal.

Drilling of the Gallagher Zone identified new mineralization between current resources and included 11.6 oz/t silver, 0.09 oz/t gold, 5.2 percent zinc and 2.5 percent lead over 32.3 feet.

Surface drilling was completed on targets in the Gallagher, East Ore and 5250 zones.

Drilling on the Gallagher Zone intersected mineralized sheared veins and breccia intervals of up to 100 feet thick containing higher-grade intervals of 1.5 feet to four feet wide that have up to 15 percent zinc and 4.0 oz/t silver.

This mineralized structure appears to be the same Klaus Shear identified within the mine workings east of the Gallagher fault.

The mineralized Klaus Shear now extends 1,500 feet west of the mine and over 3,000 feet north to south.

Drilling successfully intercepted the main mine horizon of the 5250 Zone over 2,000 feet south of the known resource showing promising alteration at the contact.

Constantine Metal Resources Ltd. reported additional assay results for four drill holes from resource expansion and upgrade drilling at the AG Zone at its Palmer volcanogenic massive sulfide deposit near Haines.

A total of 10,718 meters were drilled as part of the recently completed dual focus resource expansion and regional exploration drill program.

The 2017 program included 10 holes for 3,221 meters at South Wall, 13 holes for 4,993 meters at the AG Zone, three holes for 1,006 meters at the Cap prospect, and six geotechnical holes totaling 1,499 meters.

Drilling at AG Zone has continued to successfully define the zone with step-outs along strike and to depth from the initial discovery holes.

Significant new results include 30.5 meters grading 7.3 percent zinc, 0.2 percent lead, 0.1 percent copper, 6 grams-per-metric-ton silver, 0.1 g/t gold from hole CMR17-92, 7.8 meters grading 6.69 percent zinc, 0.81 percent lead, 0.11 percent copper, 34.6 g/t silver, 0.26 g/t gold from hole CMR17-99, 41.3 meters grading 5.79 percent zinc, 0.15 percent lead, 0.14 percent copper, 9.2 g/t silver, 0.05 g/t gold from hole CMR17-96 and 127.6 meters grading 0.98 percent zinc, 0.32 percent lead, 0.04 percent copper, 184.2 g/t silver, 0.4 g/t gold from hole CMR17-94.

Collectively, the drill-defined strike length is 225 meters, a vertical dip length of 275 meters and all sides are open to expansion.

Mineralization consists of stacked stratabound zones, including a high-grade silver-gold upper zone, and a zinc-rich lower zone.

The additional drilling also has shown that most of the AG Zone occurs on the steep, relatively planar limb, of a large-scale fold structure.

Mineralization is stratigraphically correlative with high-grade surface prospects located hundreds of meters along trend to the northwest (Waterfall and CAP) and southeast (JAG).

https://www.miningnewsnorth.com/story/2017/12/03/opinion-and-guest-columns/turnaround-lifts-mood-as-miners-gather/4544.html

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