FEB 2/AT COMEX STILL HAVE 13.37 TONNES OF GOLD STANDING AND ONLY 3.51 TONNES OF DEALER GOLD TO SERVE UPON OUR LONGS/OIL DROPS AGAIN INTO THE 29 DOLLAR COLUMN/ALL BOURSES AROUND THE GLOBE DOWN BADLY (EXCEPT SHANGHAI)/HONG KONG HAVING A HUGE HOUSING CRISIS AS DEMAND DRIES UP/JAPAN CANCELS A 10 YR BOND AUCTION DUE TO NEGATIVE YIELDS ON A FIXED BOND ISSUE/EUROPEAN BANKS PLUNGING BADLY AS NIRP IS KILLING THEM/IN ITALY THE CAR EQUITY COMPANY FERRARI HALTED AFTER FALLING 40%. IT RECENTLY WENT PUBLIC/USA 10 YR TREASURY BOND NOW AT 1.87%/
Gold: $1127.30 down $0.60 (comex closing time)
Silver 14.28 down 6 cents
In the access market 5:15 pm
At the gold comex today, we had a fair delivery day, registering 24 notices for 2400 ounces. Silver saw 0 notices for nil oz.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 203.02 tonnes for a loss of 100 tonnes over that period.
In silver, the open interest fell by 329 contracts down to 158,110. In ounces, the OI is still represented by .791 billion oz or 113% of annual global silver production (ex Russia ex China).
In silver we had 0 notices served upon for nil oz.
In gold, the total comex gold OI rose by a huge 5301 contracts to 378,735 contracts as gold was up 11.50 with yesterday’s trading.
We had no changes in gold inventory at the GLD / thus the inventory rests tonight at 681.43 tonnes. The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold. Our 670 tonnes of rock bottom inventory in GLD gold has been broken. It looks to me that China has taken the last amounts of physical gold from the GLD. I guess the only place left for China to receive physical gold, after they deplete the GLD will be the FRBNY and the comex. In silver,/we had no changes in inventory, and thus/Inventory rests at 309.510 million oz.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver fall by 329 contracts down to 158,110 despite the fact that silver was up 11 cents with respect to yesterday’s trading. The total OI for gold rose by 5,301 contracts to 378,735 contracts as gold was up $11.50 in price from yesterday’s level.
2 a) Gold trading overnight, Goldcore
3. ASIAN AFFAIRS
i)Late MONDAY night,TUESDAY morning: Shanghai UP 2.29% / Hang Sang DOWN. The Nikkei DOWN . Chinese yuan DOWN and yet they still desire further devaluation throughout this year. Oil LOST ,FALLING to 31.72 dollars per barrel for WTI and 32.90 for Brent. Stocks in Europe so far are all in the RED . Offshore yuan trades at 6.6250 yuan to the dollar vs 6.5794 for onshore yuan. huge volatility is the Chinese markets screams of credit problems; a leaked document suggests that China will not use the lowering of the RRR reserves but instead provide direct yuan injections into the market/JAPAN INITIATES NIRP(LAST THURSDAY NIGHT CREATING HAVOC AROUND THE GLOBE)
ii) The Hong Kong housing bubble suffered a spectacular collapses are sales plunge over 80% as demand dries up completely. Capital controls from the mainland is surely having an effect on Hong Kong housing. If Hong Kong is having this kind of lack of demand in one of the world’s most wealthiest enclaves, one can just imagine what is happening inside the mainland!
( zero hedge)
iii) The biggest ever Chinese corporate takeover: ChemChina purchases the Swiss Syngenta for 43 billion USA
iv) David Stockman comments on the huge scandal in China with respect to a 7 billion USA Ponzi scheme whereby 900,000 investors lost their money.
“Yucheng was raising capital through Ezubo at an annual interest rate of 14 percent and lending it out for 6 percent,” he said. The investor said he couldn’t understand how the company could be profitable (!) considering it was paying more to attract money than it was collecting in interest on loans.”
Also he harps on the damaging effects on NIRP throughout the globe
(courtesy David Stockman/ContraCorner)
v) This is a biggy!! Japan cancels its fixed 10 yr bond auctions due to sub zero rates. The variable rate is still auctionable and yesterday the yield came in at .078%. Now Japan has a problem: where are they going to find bonds to monetize? No question that they will purchase USA bonds in size.
i)This morning European bank stocks are plunging. Since NIRP they are down 40%. NIRP destroys bank profits !
( zero hedge)
ii) Austria has had enough: they will pay migrants 500 euros to go back home. Good luck!
iii)The stock Ferrari on the Milan Stock exchange crashes today down 40%:
( zero hedge)
Coming to a store near you….!!!!
YOU PAY THE CORPORATE FOR THE PRIVILEGE OF BUYING THEIR DEBT:
( zero hedge/Jim Reid/Deutsche bank)
ii) Exxon halts stock buybacks. Their oil production surges:
iii)The low oil price is disintegrating conditions in African nations:
iv)The biggest USA energy companies have all been downgraded by and S and P(courtesy zero hedge)
v)Then after the market closed, oil drops further on news of a big API buildup of inventory:
i) KGHM are not happy campers as they slam the LBMA”s manipulated silver fix and rightly so!
ii) Two giants in the field talk about the “big reset”
( Bron Suchecki/Perth Mint/GATA)
USA STORIES WHICH WILL INFLUENCE THE PRICE OF GOLD AND SILVER
i)i)USA 10 yr treasuries now down to 1.90%( ZERO HEDGE)
ii) ISM NY manufacturing index tumbles the most since August as revenues disintegrate:
iii) Michael Snyder comments on empty shelves, and store closings all across the USA
iv) Negative Interest rate scenarios are already baked in as the Fed uses them in stress tests
v) as stocks were rising 1.8% last week, hedge funds were dumping
vi) A huge warning signal for the USA housing sector
Let us head over to the comex:
The total gold comex open interest rose to 378,735 for a gain of 5301 contracts as the price of gold was up $11.50 in price with respect to yesterday’s trading. For the past two years, we have strangely witnessed two interesting developments with respect to the gold open interest: 1) total gold comex collapse in OI as we enter an active delivery month, and 2) a continual drop in the amount of gold standing in an active month. Today,only the former scenario was in order. We now enter the big active delivery month is February and here the OI fell by 507 contracts down to 3,687. We had 546 notices filed yesterday, so strangely we actually gained 39 contracts or an additional 3900 oz will stand for delivery. The next non active delivery month of March saw its OI rise by 48 contracts up to 1223. After March, the active delivery month of April saw it’s OI rise by 5,956 contracts up to 267,790.The estimated volume today (which is just comex sales during regular business hours of 8:20 until 1:30 pm est) was 98,051 which is extremely poor. The confirmed volume Friday (which includes the volume during regular business hours + access market sales the previous day was poor at 125,728 contracts. The comex is not in backwardation.
Feb contract month:
INITIAL standings for FEBRUARY
|Withdrawals from Dealers Inventory in oz||nil|
|Withdrawals from Customer Inventory in oz nil||201,351.325 oz Brinks,HSBC,Scotia|
|Deposits to the Dealer Inventory in oz||nil|
|Deposits to the Customer Inventory, in oz||297,801.325 ozjpm|
|No of oz served (contracts) today||24 contracts( 2400 oz)|
|No of oz to be served (notices)||3673 contracts(367,300 oz )|
|Total monthly oz gold served (contracts) so far this month||628 contracts (62,800 oz)|
|Total accumulative withdrawals of gold from the Dealers inventory this month||nil|
|Total accumulative withdrawal of gold from the Customer inventory this month||203,956.5 oz|
Total customer deposits 297,801.325 oz
we had 0 adjustment.
Here are the number of oz held by JPMorgan:
FEBRUARY INITIAL standings/
|Withdrawals from Dealers Inventory||nil|
|Withdrawals from Customer Inventory||nil|
|Deposits to the Dealer Inventory||nil|
|Deposits to the Customer Inventory||1012.59 oz CNT|
|No of oz served today (contracts)||0 contractsnil oz|
|No of oz to be served (notices)||108 contracts540,000 oz|
|Total monthly oz silver served (contracts)||0 contracts nil|
|Total accumulative withdrawal of silver from the Dealers inventory this month||nil oz|
|Total accumulative withdrawal of silver from the Customer inventory this month||2,054,5724.2 oz|
Today, we had 0 deposits into the dealer account:
total dealer deposit;nil oz
we had 0 dealer withdrawals:
total dealer withdrawals: nil
we had 1 customer deposits:
i) Into CNT: 1012.59 oz
total customer deposits: 1012.59 oz
total withdrawals from customer account nil oz
we had 0 adjustments:
And now the Gold inventory at the GLD:
Feb 2.2016: no changes in inventory at the GLD/inventory rests at 681.43 tonnes
Feb 1/a massive deposit of 12.20 tonnes of gold inventory/Inventory rests at 681.43
JAN 29/2016/no change in gold inventory at the GLD/Inventory rests at 669.23 tonnes
jAN 28/no changes in gold inventory at the GLD/Inventory rests at 669.23
jan 27/another huge addition of 5.06 tonnes of gold to GLD/Inventory rests at 669.23 tonnes /most likely the addition is a paper deposit and not real physical,especially with gold in backwardation in both London and the comex.
Jan 26.no change in gold inventory at the GLD/Inventory rests at 664.17 tonnes
Jan 25./a huge deposit of 2.08 tonnes of gold into the GLD/inventory rests at 664.17 tonnes
most likely the addition is a paper deposit and not real physical
Jan 22/no change in gold inventory at the GLD/Inventory rests at 662.09 tonnes
Jan 21.2016: a huge deposit of 4.17 tonnes/Inventory rests at 662.09 tonnes
most likely the addition is a paper deposit and not real physical
jan 20/ no change in inventory at THE GLD/Inventory rests at 657.92 tonnes
Feb 2.2016: inventory rests at 681.43 tonnes