Jan 8/GOLD CONTINUES TO REBOUND DESPITE CONSTANT CARTEL WHACKING: GOLD DOWN $1.40/SILVER IS DOWN 11 CENTS. GOLD WITNESSES ANOTHER BIG 6,000 PLUS GOLD EFP/SILVER HAS 1723 EFP NOTICES/GOOD NUMBER OF SWAMP STORIES TONIGHT/ January 8, 2018 · by Harvey Organ · in Uncategorized · 1 Comment
Glad to be back as I was in Israel over the holidays.
I will resume my normal detailed commentary
GOLD: $1319.50 DOWN $1.40
Silver: $17.12 DOWN 11 cents
Closing access prices:
Gold $1320.50
silver: $17.11
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)
In silver, the total open interest ROSE BY TINY 165 contracts from 194,264 RISING TO 194,429 WITH FRIDAY’S TINY 4 CENT RISE IN SILVER PRICING. WE HAD ZERO COMEX LIQUIDATION BUT WITHOUT A DOUBT WE WITNESSED ANOTHER MAJOR BANK SHORT- COVERING OPERATION. NOT ONLY THAT , WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER HUGE SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: A CONSIDERABLE 1721 EFP’S FOR MARCH (AND ZERO FOR OTHER MONTHS) AND THUS TOTAL ISSUANCE OF 1721 CONTRACTS. HOWEVER THE MOVEMENT ACROSS TO LONDON IS NOT AS SEVERE AS IN GOLD AS THERE SEEMS TO BE A MAJOR PLAYER TAKING ON THE BANKS AT THE COMEX. STILL, WITH THE TRANSFER OF 1721 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. YESTERDAY WITNESSED EFP’S FOR SILVER ISSUED. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24 HRS IN THE ISSUING OF EFP’S. I BELIEVE THAT WE MUST HAVE HAD SOME MAJOR BANKER SHORT COVERING AGAIN TODAY.
ACCUMULATION FOR EFP’S/SILVER/ STARTING FROM FIRST DAY NOTICE/FOR MONTH OF JANUARY:
17,931 CONTRACTS (FOR 6 TRADING DAYS TOTAL 17,931 CONTRACTS OR 89.66 MILLION OZ: AVERAGE PER DAY: 2988 CONTRACTS OR 14.94 MILLION OZ/DAY)
RESULT: A SMALL SIZED GAIN IN OI COMEX DESPITE THE TINY 4 CENT RISE IN SILVER PRICE WHICH USUALLY INDICATES HUGE BANKER SHORT-COVERING. WE ALSO HAD A FAIR SIZED EFP ISSUANCE OF 1721 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. FROM THE CME DATA 1721 EFP’S WERE ISSUED FOR TODAY (FOR MARCH EFP’S AND NONE FOR ALL OTHER MONTHS) FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE REALLY GAINED 1886 OI CONTRACTS i.e. 1721 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 165 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE TINY RISE IN PRICE OF SILVER BY 4 CENTS AND A CLOSING PRICE OF $17.23 WITH RESPECT TO FRIDAY’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 UNDER 1 BILLION oz i.e. 0.9720 BILLION TO BE EXACT or 139% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT JANUARY MONTH/ THEY FILED: 0 NOTICE(S) FOR NIL OZ OF SILVER
In gold, the open interest ROSE BY AN HUGE SIZED 9,128 CONTRACTS UP TO 551,441 WITH THE SMALL RISE IN PRICE OF GOLD WITH FRIDAY’S TRADING ($1.40). IN ANOTHER HUGE DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED YESTERDAY FOR TODAY AND IT TOTALED A GOOD SIZED 6115 CONTRACTS OF WHICH THE MONTH OF FEBRUARY SAW 6115 CONTRACTS AND APRIL SAW THE ISSUANCE OF 0 CONTRACTS. The new OI for the gold complex rests at 551,441. 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 JANUARY. EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER (BIG RISE IN BOTH GOFO AND SIFO) AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES. IN ESSENCE WE HAVE ANOTHER HUMONGOUS GAIN OF 15,243 OI CONTRACTS: 9.128 OI CONTRACTS INCREASED AT THE COMEX AND A GOOD SIZED 6115 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.
FRIDAY, WE HAD 17,213 EFP’S ISSUED.
ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JANUARY STARTING WITH FIRST DAY NOTICE: 57,605 CONTRACTS OR 5.760 MILLION OZ OR 179.16 TONNES (6 TRADING DAYS AND THUS AVERAGING: 9,600.8 EFP CONTRACTS PER TRADING DAY OR 960,000 OZ/DAY)
Result: A STRONG SIZED INCREASE IN OI WITH THE SMALL SIZED RISE IN PRICE IN GOLD TRADING ON YESTERDAY ($1.40). WE HAD ANOTHER FAIR SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 6115. 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 6115 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 15,243 contracts:
6115 CONTRACTS MOVE TO LONDON AND 9128 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the gain in total oi equates to 47.40 TONNES)
we had: 0 notice(s) filed upon for NIL oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
GLD: with gold up for 11 consecutive days, we still have no changes in gold inventory
Today, with gold down a tiny $1.40 after rising for 12 straight days, gold inventory declines by a huge 1.44 tonnes today/
Inventory rests tonight: 834.86 tonnes.
SLV/
NO CHANGES IN SILVER INVENTORY AT THE SLV/
INVENTORY RESTS AT 318.423 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 SMALL 165 contracts from 194,264 UP TO 194,429 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE TINY RISE IN PRICE OF SILVER TO THE TUNE OF 4 CENTS ON FRIDAY. WE HAD WITHOUT A DOUBT ANOTHER MAJOR SHORT COVERING FROM OUR BANKERS AS THEY HAVE CAPITULATED. NOT ONLY THAT BUT OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 1721 PRIVATE EFP’S FOR MARCH (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM). EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. WE HAD NO COMEX SILVER COMEX LIQUIDATION. BUT, IF WE TAKE THE SMALL OI GAIN AT THE COMEX OF 165 CONTRACTS TO THE 1721 OI TRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A GAIN OF 1886 OPEN INTEREST CONTRACTS DESPITE THE MAJOR BANKER SHORT COVERING. WE STILL HAVE A GOOD AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN JANUARY (SEE BELOW). THE NET GAIN TODAY IN OZ: 9.43 MILLION OZ!!!
RESULT: A SMALL SIZED INCREASE IN SILVER OI AT THE COMEX WITH THE TINY SIZED RISE OF 4 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). BUT WE ALSO HAD ANOTHER 1721 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE GOOD SIZED AMOUNT OF SILVER OUNCES STANDING FOR JANUARY, DEMAND FOR PHYSICAL SILVER INTENSIFIES AS WE WITNESS MAJOR BANK SHORT COVERING ACCOMPANIED BY INCREASES IN GOFO AND SIFO RATES INDICATING SCARCITY.
(report Harvey)
.
2.a) The Shanghai and London gold fix report
(Harvey)
2 b) Gold/silver trading overnight Europe, Goldcore
(Mark O’Byrne/zerohedge
and in NY: Bloomberg 3. ASIAN AFFAIRS
i)Late SUNDAY night/MONDAY morning: Shanghai closed UP 17.73 points or 0.53% /Hang Sang CLOSED UP 84.89 pts or 0.28% / The Nikkei closed UP 208.20 POINTS OR 0.89%/Australia’s all ordinaires CLOSED UP 0.11%/Chinese yuan (ONSHORE) closed UP at 6.4974/Oil UP to 61.90 dollars per barrel for WTI and 67.85 for Brent. Stocks in Europe OPENED MOSTLY GREEN. ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.4974. OFFSHORE YUAN CLOSED UP AGAINST THE ONSHORE YUAN AT 6.4943 //ONSHORE YUAN STRONGER AGAINST THE DOLLAR/OFF SHORE STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS STRONGER AGAINST ALL MAJOR CURRENCIES. CHINA IS HAPPY TODAY.(GOOD MARKETS) 3a)THAILAND/SOUTH KOREA/NORTH KOREA
i)North Korea/South Korea
Huge crypto carnage as the South Korean government launches a probe into their use
( zerohedge) b) REPORT ON JAPAN 3 c CHINA 4. EUROPEAN AFFAIRS i)EU
The end of QE in Europe will cause peripheral bonds to collapse in price (rise in yield)
( zerohedge)
ii)UK
UK Political cabinet shuffle:
( zerohedge) 5. RUSSIAN AND MIDDLE EASTERN AFFAIRS i)Saudi Arabia
Eleven more Saudi royals have been arrested for protesting against MBS’s austerity measures
( zerohedge) ii) Iran Strange: former President Mahmoud Ahmadinajad arrested for inciting those Iranian protests (courtesy zerohedge) iii)So far the following has no real explanation: an Iranian tanker collided with a Chinese vessel off the coast of China. The Chinese sailors were rescued. Nobody on the Iranian vessel was rescued. It is no burning out of control and in danger of exploding and sinking
Chaos in Caracas as mobs surround shops after a government mandated price cuts,
( zerohedge) 9. PHYSICAL MARKETS
i)Eric Sprott comments on my work (and Ronan Manly/Koos Jansen) in the extra-ordinary use of ERFP’s (exchange for physicals). Sprott suggests (as do I) that there is little metal available for delivery in New York. His final comment is worth noting: “Maybe the whole fraud at the comex is unwinding”
( Eric Sprott/Craig Hemke/Harvey Organ/Koos Jansen/Ron Manly)
ii)Ed Steer comments on the latest COT report. However he does not address the huge EFP transfers which distorts this report greatly
( Ed Steer/GATA)
iii)GATA is hosting another conference in March and a Hong Kong conference in April
( Chris Powell/GATA)
iv)This is how the major banks are going to cause a massive fall in Bitcoin pricing: they are already building up a huge short position in the futures markets
( zerohedge) 10. USA stories which will influence the price of gold/silver
i)the White House is now asking for a down payment on the wall: 18 billion dollars to rebuild 700 miles
( zerohedge)
ii)It looks like it will be a battle in Congress over the next 2 weeks. The Democrats wants a permanent DACA ie. permanent status for illegal immigrants that were children when they arrived years ago vs the Republican wall should be quite a battle
( zerohedge)
iii)SWAMP STORIES
a)The SEC is now probing Jared Kushner companies over the use of immigrant visa programs i.e. E. B. -5
( zerohedge)
b)As we reported to you on Friday, Fusion GPS did hand over all bank records after a Federal judge struck down the firm’s attempt to conceal the records form the Intelligence Committee. We will now learn first hand who financed the report
( zerohedge)
c)Wikileaks publishes the entire Michael Wolff book Fire and Fury as a PDF
( zerohedge) d)we are going to receive shortly the Office of the Attorney General’s report on the Clinton email scandal as well as the Lynch tarmac affair and the Clinton Foundation. This will likely trigger the use of a second special counsel to investigate those crimes ( zerohedge) e)they are going after Dr Jane Sanders and Bernie Sanders in a 10 million dollar fraud probe. That may end Bernie’s chances at becoming President in 2020( zerohedge)
iv) Stockman takes on Wall Street and the false narrative of a growing economy
( David Stockman/ContraCorner)
v)We have been harping on this for quite a while: the death spiral for shopping malls. The following suggests that many of the malls are in worse shape than many think
( zerohedge) Let us head over to the comex:
The total gold comex open interest ROSE BY HUGE 9128 CONTRACTS UP to an OI level of 553,240 WITH THE SMALL SIZED RISE IN THE PRICE OF GOLD ($1.40 GAIN WITH RESPECT TO FRIDAY’S TRADING). OBVIOUSLY WE HAD ZERO COMEX GOLD LIQUIDATION WITH ANOTHER STRONG GAIN IN TOTAL OPEN INTEREST AS WE WITNESSED ANOTHER HUMONGOUS COMEX TRANSFER THROUGH THE EFP ROUTE. THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS. THE CME REPORTS THAT 6115 EFP’S WERE ISSUED FOR FEBRUARY AND 0 EFP’s FOR APRIL: TOTAL 6115 CONTRACTS. THE OBLIGATION STILL RESTS WITH THE BANKERS ON THESE TRANSFERS.
ON A NET BASIS IN OPEN INTEREST WE GAINED TODAY: 15,243 OI CONTRACTS IN THAT 6115 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED 9,128 COMEX CONTRACTS. NET GAIN: 15,243 contracts OR 1,524,300 OZ OR 47.409 TONNES
Result: A STRONG SIZED INCREASE IN COMEX OPEN INTEREST WITH THE SMALL RISE IN THE PRICE OF FRIDAY’S GOLD TRADING (1.40.) WE HAD NO GOLD LIQUIDATION ANYWHERE. TOTAL OPEN INTEREST GAIN ON THE TWO EXCHANGES: 15,243 OI CONTRACTS…
We have now entered the active contract month of JANUARY. The open interest for the front month of JANUARY saw it’s open interest FALL by 4 contracts DOWN to 179. We had 4 notices served on Friday so we GAINED 0 contracts or NIL additional oz of gold will stand in this non active month
FEBRUARY saw a GAIN of 869 contacts UP to 371,302. March saw a gain of 34 contracts up to 101. April saw a GAIN of 7,257 contracts UP to 83,725.
We had 0 notice(s) filed upon today for NIL oz PRELIMINARY VOLUME TODAY ESTIMATED; 329,333 FINAL NUMBERS CONFIRMED FOR YESTERDAY: 412,858
comex gold volumes are RISING AGAIN
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx And now for the wild silver comex results.
Total silver OI ROSE BY A TINY 165 CONTRACTS FROM 194,264 UP TO 194,429 DESPITE YESTERDAY’S TINY 4 CENT RISE AGAIN WE MUST HAVE HAD SOME BANKER SHORT COVERING. NOT ONLY THAT, WE HAD ANOTHER GOOD SIZED 1721 EMERGENCY EFP’S FOR MARCH ISSUED BY OUR BANKERS (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: 1721. IT SURE LOOKS LIKE THE SILVER BOYS HAVE STARTED TO MIGRATE TO LONDON FROM THE START OF DELIVERY MONTH AND CONTINUING RIGHT THROUGH UNTIL FIRST DAY NOTICE JUST LIKE WE ARE WITNESSING TODAY. USUALLY WE NOTED THAT CONTRACTION IN OI OCCURRED ONLY DURING THE LAST WEEK OF AN UPCOMING ACTIVE DELIVERY MONTH. THIS PROCESS HAS JUST BEGUN IN EARNEST IN SILVER STARTING IN SEPTEMBER. HOWEVER, IN GOLD, WE HAVE BEEN WITNESSING THIS FOR THE PAST 2 YEARS. WE HAD ZERO LONG COMEX SILVER LIQUIDATION BUT A RISE IN TOTAL SILVER OI AS IT SEEMS THAT WE ARE WITNESSING SOME MAJOR BANKER SHORT-COVERING. WE ARE ALSO WITNESSING A FAIR 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 AS IT SEEMS THAT A MAJOR PLAYER WISHES TO TAKE ON THE CROOKED COMEX SHORTS. ON A NET BASIS WE GAINED 1886 OPEN INTEREST CONTRACTS:
165 CONTRACT GAIN AT THE COMEX COMBINING WITH THE ADDITION OF 1721 OI CONTRACTS NAVIGATING OVER TO LONDON.
NET GAIN: 1886 CONTRACTS
We are now in the poor non active delivery month of January and here the OI LOSS by 2 contracts DOWN to 39. We had 2 notices served upon yesterday, so we GAINED 0 contracts or an additional NIL oz will stand for delivery
February saw a GAIN OF 0 OI contracts REMAINING AT 182. The March contract LOST 1424 contracts DOWN to 149,964.
We had 0 notice(s) filed for NIL oz for the January 2018 contract for silver INITIAL standings for JANUARY
Jan 8/2018. 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) 179 contracts (17,900 oz) Total monthly oz gold served (contracts) so far this month 242 notices 24200 oz 0.7527 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 We had 0 inventory movement at the dealer accounts total inventory movement at the dealer accounts: nil we had no inventory movement at the customer accounts total customer account: nil oz total registered or dealer gold: 568,449.373 oz or 17.681 tonnes total registered and eligible (customer) gold; 287.22 tones
For JANUARY: 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 0 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx To calculate the INITIAL total number of gold ounces standing for the JANUARY. contract month, we take the total number of notices filed so far for the month (242) x 100 oz or 24200 oz, to which we add the difference between the open interest for the front month of JAN. (179 contracts) minus the number of notices served upon today (0 x 100 oz per contract) equals 42,100 oz, the number of ounces standing in this active month of JANUARY
Thus the INITIAL standings for gold for the JANUARY contract month:
No of notices served (242 x 100 oz or ounces + {(179)OI for the front month minus the number of notices served upon today (0 x 100 oz which equals 42,100 oz standing in this active delivery month of JANUARY (1.303 tonnes). THERE IS 33.29 TONNES OF REGISTERED GOLD AVAILABLE FOR DELIVERY SO FAR.
WE GAINED 0 CONTRACTS OR AN ADDITIONAL NIL OZ WILL STAND IN THIS NON ACTIVE DELIVERY MONTH OF JANUARY
ON FIRST DAY NOTICE FOR JANUARY 2017, THE INITIAL GOLD STANDING: 3.904 TONNES STANDING
BY THE END OF THE MONTH: FINAL: 3.555 TONNES STOOD FOR COMEX DELIVERY AS THE REMAINDER HAD TRANSFERRED OVER TO LONDON FORWARDS.
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Total dealer inventory 568,449.373 oz or 17.681 tonnes (dealer gold continues to disappear) Total gold inventory (dealer and customer) = 9,243,329.256 or 287/22 tonnes
I have a sneaky feeling that these withdrawals of gold in kilobars are being used in the hypothecating process and are being used in the raiding of gold! The gold comex is an absolute fraud. The use of kilobars and exact weights makes the data totally absurd and fraudulent! To me, the only thing that makes sense is the fact that “kilobars: are entries of hypothecated gold sent to other jurisdictions so that they will not be short with their underwritten derivatives in that jurisdiction. This would be similar to the rehypothecated gold used by Jon Corzine at MF Global.
IN THE LAST 14 MONTHS 67 NET TONNES HAS LEFT THE COMEX.
end And now for silver AND NOW THE DECEMBER DELIVERY MONTH DECEMBER FINAL standings Jan 58 2018 Silver Ounces Withdrawals from Dealers Inventory nil oz Withdrawals from Customer Inventory nil oz Deposits to the Dealer Inventory nil oz Deposits to the Customer Inventory nil oz No of oz served today (contracts) 0 CONTRACT(S) (10,000 OZ) No of oz to be served (notices) 39 contract (195,000 oz) Total monthly oz silver served (contracts) 509 contracts
(2,535,000 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 no inventory movement at the dealer side of things
total inventory movement: nil oz
we had no inventory movement at the customer side of things
total inventory movement; nil
total dealer silver: 45.466 million
total dealer + customer silver: 245.527 million oz
The total number of notices filed today for the JANUARY. contract month is represented by 0 contract(s) FOR 10,000 oz. To calculate the number of silver ounces that will stand for delivery in JANUARY., we take the total number of notices filed for the month so far at 507 x 5,000 oz = 2,535,000 oz to which we add the difference between the open interest for the front month of JAN. (39) and the number of notices served upon today (0 x 5000 oz) equals the number of ounces standing.
.
Thus the INITIAL standings for silver for the JANUARY contract month: 507(notices served so far)x 5000 oz + OI for front month of JANUARY(39) -number of notices served upon today (0)x 5000 oz equals 2,730,000 oz of silver standing for the JANUARY contract month. This is VERY GOOD for this NONACTIVE delivery month of JANUARY. WE GAINED 0 CONTRACTS OR AN ADDITIONAL NIL OZ WILL STAND FOR DELIVERY IN THIS NON ACTIVE DELIVERY MONTH OF JANUARY.
ON FIRST DAY NOTICE FOR THE JANUARY 2017 CONTRACT WE HAD 3,790 MILLION OZ STAND.
YESTERDAY’S CONFIRMED VOLUME OF 92,059 CONTRACTS EQUATES TO 460 MILLION OZ OR 65.7% OF ANNUAL GLOBAL PRODUCTION OF SILVER
COMMODITY LAW SUGGESTS THAT OPEN INTEREST SHOULD NOT BE MORE THAN 3% OF ANNUAL GLOBAL PRODUCTION. THE CROOKS ARE SUPPLYING MASSIVE PAPER TRYING TO KEEP SILVER IN CHECK.
Total dealer silver: 59.182 million Total number of dealer and customer silver: 240.232 million oz
The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price at that day at $18.42 The previous record was 224,540 contracts with the price at that time of $20.44
end
NPV for Sprott and Central Fund of Canada
1. Central Fund of Canada: traded at Negative 2.5 percent to NAV usa funds and Negative 2.5% to NAV for Cdn funds!!!! Percentage of fund in gold 62.8% Percentage of fund in silver:37.0% cash .+.2%( Jan 8/2018)
2. Sprott silver fund (PSLV): NAV RISES TO -1.15% (Jan 5/2018)?????????????????????????????? 3. Sprott gold fund (PHYS): premium to NAV FALLS TO -0.58% to NAV (Jan 45/2018 ) Note: Sprott silver trust back into NEGATIVE territory at -1.15%-/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)
END
And now the Gold inventory at the GLD
Jan 8/with gold falling by a tiny $1.40 and this being after 12 consecutive gains, today they announce another 1.44 tonnes of gold withdrawal from the GLD/
Jan 5/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 836.32 TONNES
Jan 4/2018/no change in gold inventory at the GLD/Inventory rests at 836.32 tonnes
Jan 3/a huge withdrawal of 1.18 tonnes of gold from the GLD/Inventory rests at 836.32 tonnes
Jan 2/2018/no changes in gold inventory at the GLD/inventory rests at 837.50 tonnes
Dec 29/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 837.50 TONNES
Dec 28/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 837.50 TONNES
Dec 27/NO CHANGES IN GOLD INVENTORY AT THE GLD/ INVENTORY RESTS AT 837.50 TONNES
Dec 26/no change in gold inventory at the GLD
Dec 22/ A DEPOSIT OF 1.48 TONNES OF GOLD INTO GLD INVENTORY/INVENTORY RESTS AT 837.50 TONNES
Dec 21' NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 836.02 TONNES
Dec 20/DESPITE THE GOOD ADVANCE IN PRICE TODAY/THE CROOKS RAIDED THE COOKIE JAR TO THE TUNE OF 1.18 TONNES/INVENTORY RESTS AT 836.02 TONNES
Dec 19/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 837.20 TONNES
Dec 18 SHOCKINGLY AFTER TWO GOOD GOLD TRADING DAYS, THE CROOKS RAID THE COOKIE JAR BY THE SUM OF 7.09 TONNES/INVENTORY RESTS AT 837.20 TONNES
Dec 15/NO CHANGES IN GOLD INVENTORY/RESTS AT 844.29 TONNES.
Dec 14/a good sized gain of 1.48 tonnes of gold into the GLD/inventory rests at 844.29 tones
Dec 13/no changes in gold inventory at the GLD/inventory rests at 842.81 tonnes
Dec 12/SURPRISINGLY NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 842.81 TONNES
Dec 11/SURPRISINGLY NO CHANGES IN GOLD INVENTORY AT THE GLD DESPITE THE CONSTANT RAIDS ON GOLD/INVENTORY RESTS AT 842.81 TONNES
Dec 8/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 842.81 TONNES
Dec 7/A BIG WITHDRAWAL OF 2.66 TONNES FROM THE GLD/INVENTORY RESTS AT 842.81 TONNES
Dec 6/No changes in GOLD inventory at the GLD/Inventory rests at 845.47 tonnes
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Jan 8/2018/ Inventory rests tonight at 836.32 tonnes
*IN LAST 306 TRADING DAYS: 106.09 NET TONNES HAVE BEEN REMOVED FROM THE GLD *LAST 241 TRADING DAYS: A NET 51.22 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY. *FROM FEB 1/2017: A NET 210.31TONNES HAVE BEEN ADDED.
end
Now the SLV Inventory
jan 8/no change in silver inventory at the SLV/Inventory rests at 318.423 million oz/
Jan 5/DESPITE NO CHANGE IN SILVER PRICING, WE HAD A HUGE WITHDRAWAL OF 2.026 MILLION OZ/INVENTORY RESTS AT 318.423 MILLION OZ.
Jan 4.2018/a slight withdrawal of 180,000 oz and this would be to pay for fees/inventory rests at 320.449 million oz/
Jan 3/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.629 MILLION OZ.
Jan 2/WITH SILVER UP DRAMATICALLY THESE PAST 4 TRADING DAYS, THE FOLLOWING MAKES NO SENSE: WE HAD A WITHDRAWAL OF 2.83 MILLION OZ FROM THE SLV
INVENTORY RESTS AT 320.629 MILLION OZ/
Dec 29/no changes in silver inventory at the SLV/inventory rests at 323.459 million oz/
Dec 28/DESPITE THE RISE IN SILVER AGAIN BY 13 CENTS, WE LOST ANOTHER 1,251,000 OZ OF SILVER FROM THE SILVER.
Dec 27/WITH SILVER UP AGAIN BY 17 CENTS, WE LOST ANOTHER 802,000 OZ OF SILVER INVENTORY/WHAT CROOKS/INVENTORY RESTS AT 324.780 MILLION OZ/
Dec 26/no change in silver inventory at the SLV./Inventory rests at 325.582
Dec 21/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 326.227 MILLION OZ/
Dec 20/INVENTORY REMAINS CONSTANT AT 326.337 MILLION OZ (COMPARE WITH GLD)
Dec 19/SILVER INVENTORY REMAINS CONSTANT AT 326.337 MILLION OZ
Dec 18.2017//SILVER INVENTORY CONTINUES TO REMAIN PAT./INVENTORY REMAINS AT 326.337 MILLION OZ/
INVENTORY RESTS AT 326.337 TONNES
Dec 15/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 326.337 MILLION OZ/
Dec 14/a small withdrawal of 377,000 oz and that usually means to pay for fees./inventory rests at 326.337 million oz/
Dec 13/no change in silver inventory at the SLV/Inventory rests at 326.714 million oz/
Dec 12/WOW!ANOTHER STRANGE ONE: SILVER HAS BEEN DOWN FOR 10 CONSECUTIVE DAYS, YET THE SLV ADDS ANOTHER 1.415 MILLION OZ TO ITS INVENTORY. IN THAT 10 DAY PERIOD, SLV ADDS 9.584 MILLION OZ/
INVENTORY RESTS AT 326.714 MILLION OZ
Dec 11/WOW!! ANOTHER STRANGE ONE: SILVER DESPITE BEING DOWN FOR 9 CONSECUTIVE TRADING DAYS ADDS ANOTHER 944,000 OZ TO ITS INVENTORY. FROM NOV 30 UNTIL TODAY SILVER HAS BEEN DOWN EVERY DAY. HOWEVER THE INVENTORY OF SILVER HAS RISEN 8.169 MILLION OZ.
Dec 8/A HUGE DEPOSIT OF 2.642 MILLION OZ/INVENTORY RESTS AT 324.355 MILLION OZ/
Dec 7/strange!! with the continual whacking of silver, no change in silver inventory at the SLV/Inventory rests at 321.713
Dec 6/no change in silver inventory at the SLV/Inventory remains at 21.713 million oz.
Jan 8/2017: Inventory 318,423 million oz
end
6 Month MM GOFO Indicative gold forward offer rate for a 6 month duration
+ 1.69% 12 Month MM GOFO + 1.95% 30 day trend
end Major gold/silver trading /commentaries for TUESDAY
GOLDCORE/BLOG/MARK O’BYRNE.
GOLD/SILVER 10 Reasons Why You Should Add To Your Gold Holdings
8, January
10 Reasons Why You Should Add To Your Gold Holdings
– Gold currently undervalued – Since 2000, the gold price has beaten the S&P 500 Index – A ‘a once-in-a-decade opportunity’ as gold-to-S&P 500 ratio is at its lowest point in 10 years. – Reached ‘peak gold’ as exploration budgets continue to tighten – $80 trillion sits in global equities, a ‘ticking time bomb’ – Gold remains an appealing diversifier in the current environment of high valuations and uncertaintiesJan 8/GOLD CONTINUES TO REBOUND DESPITE CONSTANT CARTEL WHACKING: GOLD DOWN $1.40/SILVER IS DOWN 11 CENTS. GOLD WITNESSES ANOTHER BIG 6,000 PLUS GOLD EFP/SILVER HAS 1723 EFP NOTICES/GOOD NUMBER OF SWAMP STORIES TONIGHT/ January 8, 2018 · by harveyorgan · in Uncategorized · 1 Comment
Glad to be back as I was in Israel over the holidays.
I will resume my normal detailed commentary
GOLD: $1319.50 DOWN $1.40
Silver: $17.12 DOWN 11 cents
Closing access prices:
Gold $1320.50
silver: $17.11
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)
In silver, the total open interest ROSE BY TINY 165 contracts from 194,264 RISING TO 194,429 WITH FRIDAY’S TINY 4 CENT RISE IN SILVER PRICING. WE HAD ZERO COMEX LIQUIDATION BUT WITHOUT A DOUBT WE WITNESSED ANOTHER MAJOR BANK SHORT- COVERING OPERATION. NOT ONLY THAT , WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER HUGE SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: A CONSIDERABLE 1721 EFP’S FOR MARCH (AND ZERO FOR OTHER MONTHS) AND THUS TOTAL ISSUANCE OF 1721 CONTRACTS. HOWEVER THE MOVEMENT ACROSS TO LONDON IS NOT AS SEVERE AS IN GOLD AS THERE SEEMS TO BE A MAJOR PLAYER TAKING ON THE BANKS AT THE COMEX. STILL, WITH THE TRANSFER OF 1721 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. YESTERDAY WITNESSED EFP’S FOR SILVER ISSUED. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24 HRS IN THE ISSUING OF EFP’S. I BELIEVE THAT WE MUST HAVE HAD SOME MAJOR BANKER SHORT COVERING AGAIN TODAY.
ACCUMULATION FOR EFP’S/SILVER/ STARTING FROM FIRST DAY NOTICE/FOR MONTH OF JANUARY:
17,931 CONTRACTS (FOR 6 TRADING DAYS TOTAL 17,931 CONTRACTS OR 89.66 MILLION OZ: AVERAGE PER DAY: 2988 CONTRACTS OR 14.94 MILLION OZ/DAY)
RESULT: A SMALL SIZED GAIN IN OI COMEX DESPITE THE TINY 4 CENT RISE IN SILVER PRICE WHICH USUALLY INDICATES HUGE BANKER SHORT-COVERING. WE ALSO HAD A FAIR SIZED EFP ISSUANCE OF 1721 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. FROM THE CME DATA 1721 EFP’S WERE ISSUED FOR TODAY (FOR MARCH EFP’S AND NONE FOR ALL OTHER MONTHS) FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE REALLY GAINED 1886 OI CONTRACTS i.e. 1721 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 165 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE TINY RISE IN PRICE OF SILVER BY 4 CENTS AND A CLOSING PRICE OF $17.23 WITH RESPECT TO FRIDAY’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 UNDER 1 BILLION oz i.e. 0.9720 BILLION TO BE EXACT or 139% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT JANUARY MONTH/ THEY FILED: 0 NOTICE(S) FOR NIL OZ OF SILVER
In gold, the open interest ROSE BY AN HUGE SIZED 9,128 CONTRACTS UP TO 551,441 WITH THE SMALL RISE IN PRICE OF GOLD WITH FRIDAY’S TRADING ($1.40). IN ANOTHER HUGE DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED YESTERDAY FOR TODAY AND IT TOTALED A GOOD SIZED 6115 CONTRACTS OF WHICH THE MONTH OF FEBRUARY SAW 6115 CONTRACTS AND APRIL SAW THE ISSUANCE OF 0 CONTRACTS. The new OI for the gold complex rests at 551,441. 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 JANUARY. EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER (BIG RISE IN BOTH GOFO AND SIFO) AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES. IN ESSENCE WE HAVE ANOTHER HUMONGOUS GAIN OF 15,243 OI CONTRACTS: 9.128 OI CONTRACTS INCREASED AT THE COMEX AND A GOOD SIZED 6115 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.
FRIDAY, WE HAD 17,213 EFP’S ISSUED.
ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JANUARY STARTING WITH FIRST DAY NOTICE: 57,605 CONTRACTS OR 5.760 MILLION OZ OR 179.16 TONNES (6 TRADING DAYS AND THUS AVERAGING: 9,600.8 EFP CONTRACTS PER TRADING DAY OR 960,000 OZ/DAY)
Result: A STRONG SIZED INCREASE IN OI WITH THE SMALL SIZED RISE IN PRICE IN GOLD TRADING ON YESTERDAY ($1.40). WE HAD ANOTHER FAIR SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 6115. 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 6115 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 15,243 contracts:
6115 CONTRACTS MOVE TO LONDON AND 9128 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the gain in total oi equates to 47.40 TONNES)
we had: 0 notice(s) filed upon for NIL oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
GLD: with gold up for 11 consecutive days, we still have no changes in gold inventory
Today, with gold down a tiny $1.40 after rising for 12 straight days, gold inventory declines by a huge 1.44 tonnes today/
Inventory rests tonight: 834.86 tonnes.
SLV/
NO CHANGES IN SILVER INVENTORY AT THE SLV/
INVENTORY RESTS AT 318.423 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 SMALL 165 contracts from 194,264 UP TO 194,429 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE TINY RISE IN PRICE OF SILVER TO THE TUNE OF 4 CENTS ON FRIDAY. WE HAD WITHOUT A DOUBT ANOTHER MAJOR SHORT COVERING FROM OUR BANKERS AS THEY HAVE CAPITULATED. NOT ONLY THAT BUT OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 1721 PRIVATE EFP’S FOR MARCH (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM). EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. WE HAD NO COMEX SILVER COMEX LIQUIDATION. BUT, IF WE TAKE THE SMALL OI GAIN AT THE COMEX OF 165 CONTRACTS TO THE 1721 OI TRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A GAIN OF 1886 OPEN INTEREST CONTRACTS DESPITE THE MAJOR BANKER SHORT COVERING. WE STILL HAVE A GOOD AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN JANUARY (SEE BELOW). THE NET GAIN TODAY IN OZ: 9.43 MILLION OZ!!!
RESULT: A SMALL SIZED INCREASE IN SILVER OI AT THE COMEX WITH THE TINY SIZED RISE OF 4 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). BUT WE ALSO HAD ANOTHER 1721 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE GOOD SIZED AMOUNT OF SILVER OUNCES STANDING FOR JANUARY, DEMAND FOR PHYSICAL SILVER INTENSIFIES AS WE WITNESS MAJOR BANK SHORT COVERING ACCOMPANIED BY INCREASES IN GOFO AND SIFO RATES INDICATING SCARCITY.
(report Harvey)
.
2.a) The Shanghai and London gold fix report
(Harvey)
2 b) Gold/silver trading overnight Europe, Goldcore
(Mark O’Byrne/zerohedge
and in NY: Bloomberg 3. ASIAN AFFAIRS
i)Late SUNDAY night/MONDAY morning: Shanghai closed UP 17.73 points or 0.53% /Hang Sang CLOSED UP 84.89 pts or 0.28% / The Nikkei closed UP 208.20 POINTS OR 0.89%/Australia’s all ordinaires CLOSED UP 0.11%/Chinese yuan (ONSHORE) closed UP at 6.4974/Oil UP to 61.90 dollars per barrel for WTI and 67.85 for Brent. Stocks in Europe OPENED MOSTLY GREEN. ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.4974. OFFSHORE YUAN CLOSED UP AGAINST THE ONSHORE YUAN AT 6.4943 //ONSHORE YUAN STRONGER AGAINST THE DOLLAR/OFF SHORE STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS STRONGER AGAINST ALL MAJOR CURRENCIES. CHINA IS HAPPY TODAY.(GOOD MARKETS) 3a)THAILAND/SOUTH KOREA/NORTH KOREA
i)North Korea/South Korea
Huge crypto carnage as the South Korean government launches a probe into their use
( zerohedge) b) REPORT ON JAPAN 3 c CHINA 4. EUROPEAN AFFAIRS i)EU
The end of QE in Europe will cause peripheral bonds to collapse in price (rise in yield)
( zerohedge)
ii)UK
UK Political cabinet shuffle:
( zerohedge) 5. RUSSIAN AND MIDDLE EASTERN AFFAIRS i)Saudi Arabia
Eleven more Saudi royals have been arrested for protesting against MBS’s austerity measures
( zerohedge) ii) Iran Strange: former President Mahmoud Ahmadinajad arrested for inciting those Iranian protests (courtesy zerohedge) iii)So far the following has no real explanation: an Iranian tanker collided with a Chinese vessel off the coast of China. The Chinese sailors were rescued. Nobody on the Iranian vessel was rescued. It is no burning out of control and in danger of exploding and sinking
Chaos in Caracas as mobs surround shops after a government mandated price cuts,
( zerohedge) 9. PHYSICAL MARKETS
i)Eric Sprott comments on my work (and Ronan Manly/Koos Jansen) in the extra-ordinary use of ERFP’s (exchange for physicals). Sprott suggests (as do I) that there is little metal available for delivery in New York. His final comment is worth noting: “Maybe the whole fraud at the comex is unwinding”
( Eric Sprott/Craig Hemke/Harvey Organ/Koos Jansen/Ron Manly)
ii)Ed Steer comments on the latest COT report. However he does not address the huge EFP transfers which distorts this report greatly
( Ed Steer/GATA)
iii)GATA is hosting another conference in March and a Hong Kong conference in April
( Chris Powell/GATA)
iv)This is how the major banks are going to cause a massive fall in Bitcoin pricing: they are already building up a huge short position in the futures markets
( zerohedge) 10. USA stories which will influence the price of gold/silver
i)the White House is now asking for a down payment on the wall: 18 billion dollars to rebuild 700 miles
( zerohedge)
ii)It looks like it will be a battle in Congress over the next 2 weeks. The Democrats wants a permanent DACA ie. permanent status for illegal immigrants that were children when they arrived years ago vs the Republican wall should be quite a battle
( zerohedge)
iii)SWAMP STORIES
a)The SEC is now probing Jared Kushner companies over the use of immigrant visa programs i.e. E. B. -5
( zerohedge)
b)As we reported to you on Friday, Fusion GPS did hand over all bank records after a Federal judge struck down the firm’s attempt to conceal the records form the Intelligence Committee. We will now learn first hand who financed the report
( zerohedge)
c)Wikileaks publishes the entire Michael Wolff book Fire and Fury as a PDF
( zerohedge) d)we are going to receive shortly the Office of the Attorney General’s report on the Clinton email scandal as well as the Lynch tarmac affair and the Clinton Foundation. This will likely trigger the use of a second special counsel to investigate those crimes ( zerohedge) e)they are going after Dr Jane Sanders and Bernie Sanders in a 10 million dollar fraud probe. That may end Bernie’s chances at becoming President in 2020( zerohedge)
iv) Stockman takes on Wall Street and the false narrative of a growing economy
( David Stockman/ContraCorner)
v)We have been harping on this for quite a while: the death spiral for shopping malls. The following suggests that many of the malls are in worse shape than many think
( zerohedge) Let us head over to the comex:
The total gold comex open interest ROSE BY HUGE 9128 CONTRACTS UP to an OI level of 553,240 WITH THE SMALL SIZED RISE IN THE PRICE OF GOLD ($1.40 GAIN WITH RESPECT TO FRIDAY’S TRADING). OBVIOUSLY WE HAD ZERO COMEX GOLD LIQUIDATION WITH ANOTHER STRONG GAIN IN TOTAL OPEN INTEREST AS WE WITNESSED ANOTHER HUMONGOUS COMEX TRANSFER THROUGH THE EFP ROUTE. THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS. THE CME REPORTS THAT 6115 EFP’S WERE ISSUED FOR FEBRUARY AND 0 EFP’s FOR APRIL: TOTAL 6115 CONTRACTS. THE OBLIGATION STILL RESTS WITH THE BANKERS ON THESE TRANSFERS.
ON A NET BASIS IN OPEN INTEREST WE GAINED TODAY: 15,243 OI CONTRACTS IN THAT 6115 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED 9,128 COMEX CONTRACTS. NET GAIN: 15,243 contracts OR 1,524,300 OZ OR 47.409 TONNES
Result: A STRONG SIZED INCREASE IN COMEX OPEN INTEREST WITH THE SMALL RISE IN THE PRICE OF FRIDAY’S GOLD TRADING (1.40.) WE HAD NO GOLD LIQUIDATION ANYWHERE. TOTAL OPEN INTEREST GAIN ON THE TWO EXCHANGES: 15,243 OI CONTRACTS…
We have now entered the active contract month of JANUARY. The open interest for the front month of JANUARY saw it’s open interest FALL by 4 contracts DOWN to 179. We had 4 notices served on Friday so we GAINED 0 contracts or NIL additional oz of gold will stand in this non active month
FEBRUARY saw a GAIN of 869 contacts UP to 371,302. March saw a gain of 34 contracts up to 101. April saw a GAIN of 7,257 contracts UP to 83,725.
We had 0 notice(s) filed upon today for NIL oz PRELIMINARY VOLUME TODAY ESTIMATED; 329,333 FINAL NUMBERS CONFIRMED FOR YESTERDAY: 412,858
comex gold volumes are RISING AGAIN
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx And now for the wild silver comex results.
Total silver OI ROSE BY A TINY 165 CONTRACTS FROM 194,264 UP TO 194,429 DESPITE YESTERDAY’S TINY 4 CENT RISE AGAIN WE MUST HAVE HAD SOME BANKER SHORT COVERING. NOT ONLY THAT, WE HAD ANOTHER GOOD SIZED 1721 EMERGENCY EFP’S FOR MARCH ISSUED BY OUR BANKERS (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: 1721. IT SURE LOOKS LIKE THE SILVER BOYS HAVE STARTED TO MIGRATE TO LONDON FROM THE START OF DELIVERY MONTH AND CONTINUING RIGHT THROUGH UNTIL FIRST DAY NOTICE JUST LIKE WE ARE WITNESSING TODAY. USUALLY WE NOTED THAT CONTRACTION IN OI OCCURRED ONLY DURING THE LAST WEEK OF AN UPCOMING ACTIVE DELIVERY MONTH. THIS PROCESS HAS JUST BEGUN IN EARNEST IN SILVER STARTING IN SEPTEMBER. HOWEVER, IN GOLD, WE HAVE BEEN WITNESSING THIS FOR THE PAST 2 YEARS. WE HAD ZERO LONG COMEX SILVER LIQUIDATION BUT A RISE IN TOTAL SILVER OI AS IT SEEMS THAT WE ARE WITNESSING SOME MAJOR BANKER SHORT-COVERING. WE ARE ALSO WITNESSING A FAIR 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 AS IT SEEMS THAT A MAJOR PLAYER WISHES TO TAKE ON THE CROOKED COMEX SHORTS. ON A NET BASIS WE GAINED 1886 OPEN INTEREST CONTRACTS:
165 CONTRACT GAIN AT THE COMEX COMBINING WITH THE ADDITION OF 1721 OI CONTRACTS NAVIGATING OVER TO LONDON.
NET GAIN: 1886 CONTRACTS
We are now in the poor non active delivery month of January and here the OI LOSS by 2 contracts DOWN to 39. We had 2 notices served upon yesterday, so we GAINED 0 contracts or an additional NIL oz will stand for delivery
February saw a GAIN OF 0 OI contracts REMAINING AT 182. The March contract LOST 1424 contracts DOWN to 149,964.
We had 0 notice(s) filed for NIL oz for the January 2018 contract for silver INITIAL standings for JANUARY
Jan 8/2018. 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) 179 contracts (17,900 oz) Total monthly oz gold served (contracts) so far this month 242 notices 24200 oz 0.7527 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 We had 0 inventory movement at the dealer accounts total inventory movement at the dealer accounts: nil we had no inventory movement at the customer accounts total customer account: nil oz total registered or dealer gold: 568,449.373 oz or 17.681 tonnes total registered and eligible (customer) gold; 287.22 tones
For JANUARY: 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 0 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx To calculate the INITIAL total number of gold ounces standing for the JANUARY. contract month, we take the total number of notices filed so far for the month (242) x 100 oz or 24200 oz, to which we add the difference between the open interest for the front month of JAN. (179 contracts) minus the number of notices served upon today (0 x 100 oz per contract) equals 42,100 oz, the number of ounces standing in this active month of JANUARY
Thus the INITIAL standings for gold for the JANUARY contract month:
No of notices served (242 x 100 oz or ounces + {(179)OI for the front month minus the number of notices served upon today (0 x 100 oz which equals 42,100 oz standing in this active delivery month of JANUARY (1.303 tonnes). THERE IS 33.29 TONNES OF REGISTERED GOLD AVAILABLE FOR DELIVERY SO FAR.
WE GAINED 0 CONTRACTS OR AN ADDITIONAL NIL OZ WILL STAND IN THIS NON ACTIVE DELIVERY MONTH OF JANUARY
ON FIRST DAY NOTICE FOR JANUARY 2017, THE INITIAL GOLD STANDING: 3.904 TONNES STANDING
BY THE END OF THE MONTH: FINAL: 3.555 TONNES STOOD FOR COMEX DELIVERY AS THE REMAINDER HAD TRANSFERRED OVER TO LONDON FORWARDS.
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Total dealer inventory 568,449.373 oz or 17.681 tonnes (dealer gold continues to disappear) Total gold inventory (dealer and customer) = 9,243,329.256 or 287/22 tonnes
I have a sneaky feeling that these withdrawals of gold in kilobars are being used in the hypothecating process and are being used in the raiding of gold! The gold comex is an absolute fraud. The use of kilobars and exact weights makes the data totally absurd and fraudulent! To me, the only thing that makes sense is the fact that “kilobars: are entries of hypothecated gold sent to other jurisdictions so that they will not be short with their underwritten derivatives in that jurisdiction. This would be similar to the rehypothecated gold used by Jon Corzine at MF Global.
IN THE LAST 14 MONTHS 67 NET TONNES HAS LEFT THE COMEX.
end And now for silver AND NOW THE DECEMBER DELIVERY MONTH DECEMBER FINAL standings Jan 58 2018 Silver Ounces Withdrawals from Dealers Inventory nil oz Withdrawals from Customer Inventory nil oz Deposits to the Dealer Inventory nil oz Deposits to the Customer Inventory nil oz No of oz served today (contracts) 0 CONTRACT(S) (10,000 OZ) No of oz to be served (notices) 39 contract (195,000 oz) Total monthly oz silver served (contracts) 509 contracts
(2,535,000 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 no inventory movement at the dealer side of things
total inventory movement: nil oz
we had no inventory movement at the customer side of things
total inventory movement; nil
total dealer silver: 45.466 million
total dealer + customer silver: 245.527 million oz
The total number of notices filed today for the JANUARY. contract month is represented by 0 contract(s) FOR 10,000 oz. To calculate the number of silver ounces that will stand for delivery in JANUARY., we take the total number of notices filed for the month so far at 507 x 5,000 oz = 2,535,000 oz to which we add the difference between the open interest for the front month of JAN. (39) and the number of notices served upon today (0 x 5000 oz) equals the number of ounces standing.
.
Thus the INITIAL standings for silver for the JANUARY contract month: 507(notices served so far)x 5000 oz + OI for front month of JANUARY(39) -number of notices served upon today (0)x 5000 oz equals 2,730,000 oz of silver standing for the JANUARY contract month. This is VERY GOOD for this NONACTIVE delivery month of JANUARY. WE GAINED 0 CONTRACTS OR AN ADDITIONAL NIL OZ WILL STAND FOR DELIVERY IN THIS NON ACTIVE DELIVERY MONTH OF JANUARY.
ON FIRST DAY NOTICE FOR THE JANUARY 2017 CONTRACT WE HAD 3,790 MILLION OZ STAND.
YESTERDAY’S CONFIRMED VOLUME OF 92,059 CONTRACTS EQUATES TO 460 MILLION OZ OR 65.7% OF ANNUAL GLOBAL PRODUCTION OF SILVER
COMMODITY LAW SUGGESTS THAT OPEN INTEREST SHOULD NOT BE MORE THAN 3% OF ANNUAL GLOBAL PRODUCTION. THE CROOKS ARE SUPPLYING MASSIVE PAPER TRYING TO KEEP SILVER IN CHECK.
Total dealer silver: 59.182 million Total number of dealer and customer silver: 240.232 million oz
The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price at that day at $18.42 The previous record was 224,540 contracts with the price at that time of $20.44
end
NPV for Sprott and Central Fund of Canada
1. Central Fund of Canada: traded at Negative 2.5 percent to NAV usa funds and Negative 2.5% to NAV for Cdn funds!!!! Percentage of fund in gold 62.8% Percentage of fund in silver:37.0% cash .+.2%( Jan 8/2018)
2. Sprott silver fund (PSLV): NAV RISES TO -1.15% (Jan 5/2018)?????????????????????????????? 3. Sprott gold fund (PHYS): premium to NAV FALLS TO -0.58% to NAV (Jan 45/2018 ) Note: Sprott silver trust back into NEGATIVE territory at -1.15%-/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)
END
And now the Gold inventory at the GLD
Jan 8/with gold falling by a tiny $1.40 and this being after 12 consecutive gains, today they announce another 1.44 tonnes of gold withdrawal from the GLD/
Jan 5/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 836.32 TONNES
Jan 4/2018/no change in gold inventory at the GLD/Inventory rests at 836.32 tonnes
Jan 3/a huge withdrawal of 1.18 tonnes of gold from the GLD/Inventory rests at 836.32 tonnes
Jan 2/2018/no changes in gold inventory at the GLD/inventory rests at 837.50 tonnes
Dec 29/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 837.50 TONNES
Dec 28/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 837.50 TONNES
Dec 27/NO CHANGES IN GOLD INVENTORY AT THE GLD/ INVENTORY RESTS AT 837.50 TONNES
Dec 26/no change in gold inventory at the GLD
Dec 22/ A DEPOSIT OF 1.48 TONNES OF GOLD INTO GLD INVENTORY/INVENTORY RESTS AT 837.50 TONNES
Dec 21' NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 836.02 TONNES
Dec 20/DESPITE THE GOOD ADVANCE IN PRICE TODAY/THE CROOKS RAIDED THE COOKIE JAR TO THE TUNE OF 1.18 TONNES/INVENTORY RESTS AT 836.02 TONNES
Dec 19/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 837.20 TONNES
Dec 18 SHOCKINGLY AFTER TWO GOOD GOLD TRADING DAYS, THE CROOKS RAID THE COOKIE JAR BY THE SUM OF 7.09 TONNES/INVENTORY RESTS AT 837.20 TONNES
Dec 15/NO CHANGES IN GOLD INVENTORY/RESTS AT 844.29 TONNES.
Dec 14/a good sized gain of 1.48 tonnes of gold into the GLD/inventory rests at 844.29 tones
Dec 13/no changes in gold inventory at the GLD/inventory rests at 842.81 tonnes
Dec 12/SURPRISINGLY NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 842.81 TONNES
Dec 11/SURPRISINGLY NO CHANGES IN GOLD INVENTORY AT THE GLD DESPITE THE CONSTANT RAIDS ON GOLD/INVENTORY RESTS AT 842.81 TONNES
Dec 8/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 842.81 TONNES
Dec 7/A BIG WITHDRAWAL OF 2.66 TONNES FROM THE GLD/INVENTORY RESTS AT 842.81 TONNES
Dec 6/No changes in GOLD inventory at the GLD/Inventory rests at 845.47 tonnes
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Jan 8/2018/ Inventory rests tonight at 836.32 tonnes
*IN LAST 306 TRADING DAYS: 106.09 NET TONNES HAVE BEEN REMOVED FROM THE GLD *LAST 241 TRADING DAYS: A NET 51.22 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY. *FROM FEB 1/2017: A NET 210.31TONNES HAVE BEEN ADDED.
end
Now the SLV Inventory
jan 8/no change in silver inventory at the SLV/Inventory rests at 318.423 million oz/
Jan 5/DESPITE NO CHANGE IN SILVER PRICING, WE HAD A HUGE WITHDRAWAL OF 2.026 MILLION OZ/INVENTORY RESTS AT 318.423 MILLION OZ.
Jan 4.2018/a slight withdrawal of 180,000 oz and this would be to pay for fees/inventory rests at 320.449 million oz/
Jan 3/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.629 MILLION OZ.
Jan 2/WITH SILVER UP DRAMATICALLY THESE PAST 4 TRADING DAYS, THE FOLLOWING MAKES NO SENSE: WE HAD A WITHDRAWAL OF 2.83 MILLION OZ FROM THE SLV
INVENTORY RESTS AT 320.629 MILLION OZ/
Dec 29/no changes in silver inventory at the SLV/inventory rests at 323.459 million oz/
Dec 28/DESPITE THE RISE IN SILVER AGAIN BY 13 CENTS, WE LOST ANOTHER 1,251,000 OZ OF SILVER FROM THE SILVER.
Dec 27/WITH SILVER UP AGAIN BY 17 CENTS, WE LOST ANOTHER 802,000 OZ OF SILVER INVENTORY/WHAT CROOKS/INVENTORY RESTS AT 324.780 MILLION OZ/
Dec 26/no change in silver inventory at the SLV./Inventory rests at 325.582
Dec 21/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 326.227 MILLION OZ/
Dec 20/INVENTORY REMAINS CONSTANT AT 326.337 MILLION OZ (COMPARE WITH GLD)
Dec 19/SILVER INVENTORY REMAINS CONSTANT AT 326.337 MILLION OZ
Dec 18.2017//SILVER INVENTORY CONTINUES TO REMAIN PAT./INVENTORY REMAINS AT 326.337 MILLION OZ/
INVENTORY RESTS AT 326.337 TONNES
Dec 15/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 326.337 MILLION OZ/
Dec 14/a small withdrawal of 377,000 oz and that usually means to pay for fees./inventory rests at 326.337 million oz/
Dec 13/no change in silver inventory at the SLV/Inventory rests at 326.714 million oz/
Dec 12/WOW!ANOTHER STRANGE ONE: SILVER HAS BEEN DOWN FOR 10 CONSECUTIVE DAYS, YET THE SLV ADDS ANOTHER 1.415 MILLION OZ TO ITS INVENTORY. IN THAT 10 DAY PERIOD, SLV ADDS 9.584 MILLION OZ/
INVENTORY RESTS AT 326.714 MILLION OZ
Dec 11/WOW!! ANOTHER STRANGE ONE: SILVER DESPITE BEING DOWN FOR 9 CONSECUTIVE TRADING DAYS ADDS ANOTHER 944,000 OZ TO ITS INVENTORY. FROM NOV 30 UNTIL TODAY SILVER HAS BEEN DOWN EVERY DAY. HOWEVER THE INVENTORY OF SILVER HAS RISEN 8.169 MILLION OZ.
Dec 8/A HUGE DEPOSIT OF 2.642 MILLION OZ/INVENTORY RESTS AT 324.355 MILLION OZ/
Dec 7/strange!! with the continual whacking of silver, no change in silver inventory at the SLV/Inventory rests at 321.713
Dec 6/no change in silver inventory at the SLV/Inventory remains at 21.713 million oz.
Jan 8/2017: Inventory 318,423 million oz
end
6 Month MM GOFO Indicative gold forward offer rate for a 6 month duration
+ 1.69% 12 Month MM GOFO + 1.95% 30 day trend
end Major gold/silver trading /commentaries for TUESDAY
GOLDCORE/BLOG/MARK O’BYRNE.
GOLD/SILVER 10 Reasons Why You Should Add To Your Gold Holdings
8, January
10 Reasons Why You Should Add To Your Gold Holdings
– Gold currently undervalued – Since 2000, the gold price has beaten the S&P 500 Index – A ‘a once-in-a-decade opportunity’ as gold-to-S&P 500 ratio is at its lowest point in 10 years. – Reached ‘peak gold’ as exploration budgets continue to tighten – $80 trillion sits in global equities, a ‘ticking time bomb’ – Gold remains an appealing diversifier in the current environment of high valuations and uncertainties
by Frank Holmes via Forbes.com
It’s important to remember that the precious metal has historically shared a low-to-negative correlation with many traditional assets such as cash, Treasuries and stocks, both domestic and international. This makes it, I believe, an appealing diversifier in the event of a correction in the capital and forex markets. Need more reasons to add to your gold holdings? Below are 10 charts that show why the yellow metal is undervalued right now:
1. The gold price has crushed the market so far this century.
Investors are invariably surprised to see the top chart whenever I show it at conferences. Believe it or not, since 2000, the gold price has beaten the S&P 500 Index, which has undergone two 40 percent corrections so far this century.
2. Compared to stocks, gold looks like a bargain.
As of this month, the gold-to-S&P 500 ratio is at its lowest point in 10 years. For mean reversion to occur, either the gold price needs to appreciate or share prices need to fall. Either way, consider this a once-in-a-decade opportunity.
3. Exploration budgets keep getting slashed.
One of the reasons why gold is so highly valued is for its scarcity. There’s a possibility it could get even scarcer as explorers continue to trim exploration budgets and uncover fewer and fewer large deposits. The time between initial discovery and day one of production is also expanding. This has led many experts in the field to wonder if we’ve finally reached “peak gold.”
4. Gold stocks could be just getting started.
Last year marked a turnaround in gold prices and gold stocks, and according to analysts at Incrementum Capital Partners, a Swiss financial management firm, they’re just getting warmed up.When charted against past gold bull markets, the present one looks as if it still has a lot of room to run.
5. Is too much money going into equities?
More than $80 trillion sits in global equities right now, a monumental sum that’s likely to surge even more as we venture further into the bull market. Some worry this is a ticking time bomb just waiting to go off. Another correction similar to the one 10 years ago would wipe out trillions of dollars around the world, and it’s then that the investment case for gold would become strongest.
6. Higher debt could mean higher gold prices.
The yellow metal has historically tracked global debt, which stood at $217 trillion as of the first quarter of this year. Looking just at the U.S., debt is expected to continue on an upward trend, driven not just by new, and largely unfunded, spending but also underlying interest. By most estimates, President Donald Trump’s historic tax cuts, although welcome, will contribute to even higher debt as a percent of gross domestic product (GDP).
7. The Fed’s about to take away the punch bowl.
My opinion is that business cycles don’t just end accidentally. They end by the Fed. If the Fed tightens enough to induce a recession, that’s the end of the business cycle.” That’s according to MKM Partners’ chief economist Mike Darda, who was referring to the Federal Reserve’s efforts to unwind its $4.5 trillion balance sheet after it bought vast quantities of government bonds and mortgage-backed securities to mitigate the effects of the Great Recession. There’s definitely a huge amount of risk here: Five of the previous six times the Fed has similarly reduced its balance sheet, between 1921 and 2000, ended in recession.
8. Rate hike cycles have rarely ended well.
Rate hike cycles also have a mixed record. According to Incrementum research, only three such cycles in the past 100 years have not ended in a recession. Obviously there’s no guarantee that this particular round of tightening will have the same outcome, but if you recognize the risk here, it might be prudent to have as much as 10 percent of your wealth in gold bullion and gold stocks.
9. Trillions of dollars of global bonds are guaranteed to lose money right now.
As of May of this year, nearly $10 trillion of bonds around the world were guaranteed to cost investors money, as more and more central banks instituted negative interest rate policies (NIRPs) to spur consumer spending. Instead, it encouraged many savers to yank their cash out of banks and convert it into gold. That’s precisely what households in Germany did, and by 2016, the European country became the world’s biggest investor in the yellow metal.
10. The Love Trade is still driving gold demand.
The chart above, based on data provided by Moore Research, shows gold’s 30-year seasonal trading pattern. Although it’s changed over the past few years, the pattern reflects the Love Trade in practice. According to the data, the gold price rallies early in the year as we approach the Chinese New Year, then dips in the summer. After that it surges on massive gold-buying in India during Diwali, in late October and early November. Finally, it ends the year at its highest point during the Indian wedding season, when demand is high. The pattern isn’t always observed exactly how I described, but it happens frequently enough for us to make educated, informed decisions on when to trade the precious metal.
This post was published here.
Related reading
Gold Has Longest Winning Streak Since 2011
Gold Has Best Year Since 2010 With Near 14% Gain In 2017
98,750,067,000,000 Reasons to Buy Gold in 2018
LISTEN: What Peak Gold, Interest Rates And Current Geopolitical Tensions Mean For Gold in 2018
News and Commentary
Gold prices firm amid higher U.S. rate hike environment (Reuters.com)
Asia Stocks Rise as Earnings Awaited, Won Weakens (Bloomberg.com)
Will 2018 mirror 2011 as a landmark year for precious metals? (TheNational.ae)
7 reasons why investors should go for gold in 2018 (MarketWatch.com)
Japan’s Abe urges central bank’s Kuroda to keep up efforts on economy (Reuters.com)
Source: Frank Holmes
Bombay Stock Exchange plans oil and gold futures (IndiaTimes.com)
Eric Sprott: Maybe the whole fraud of the Comex is unwinding (SprottMoney.com)
Why Trump Is Probably to Blame for the Weak Dollar (Bloomberg.com)
U.K. Consumer Pullback Sees Worst Year for Spending Since 2012 (Bloomberg.com)
Ghost of Weimar Looms Over German Politics (Bloomberg.com)
– Spectre, Meltdown Highlight Online Banking and Digital Gold Risks – Palladium Prices Surge To New Record High Over $1,100 On Supply Crunch Concerns – Gold Has Best Year Since 2010 With Near 14% Gain In 2017 – Happy 2nd Birthday Bail-in Tool! We Suggest Gold As The Perfect Gift – 98,750,067,000,000 Reasons to Buy Gold in 2018 – Gold, Bitcoin and the Blockchain Replaces the Banks – Realists Guide To The Future – It’s A Wonderful Life Is A Wonderful Lesson To Hold Gold Outside of The Banking System – Goldnomics Podcast – Gold, Stocks, Bitcoin in 2018. Everything Bubble Bursts? – What Peak Gold, Interest Rates And Current Geopolitical Tensions Mean For Gold in 2018 – New Rules For Cross-Border Cash and Gold Bullion Movements – ‘Gold Strengthens Public Confidence In The Central Bank’ – Bundesbank – WGC: 2018 Set To Be A Positive Year For Price of Gold and Investors – Year-end Rate Hike Once Again Proves To Be Launchpad For Gold Price xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Thank You Harvey Alway good data <3 https://www.silverdoctors.com/tag/harvey-organ/ xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
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