DESPITE THE LOW PRICE OF GOLD/SILVER, GLD ADDS A WHOPPING 11.89 TONNES TO ITS INVENTORY/SLV ADDS 2.665 MILLION OZ/GOLD WHACKED/SILVER HELD UP PRETTY GOOD/GOLD AND SILVER SHARES REFUSE TO BUCKLE/GIGANTIC RISE IN SILVER OI AS IT SEEMS THAT SOMEONE BIG IS WILLING TO TAKE ON THE CROOKS/COMEX GOLD OI ALSO RISES/JAPANESE 10 YR BOND YIELD FALLS TO -.107% AFTER HITTING -.137%: ALSO THE 30 YR RATE PLUNGES/IN BRAZIL, ROUSSEFF REMAINS DEFIANT DESPITE IMPEACHMENT VOTE IN APRIL/ IN OIL TWO DEVELOPMENTS: I) USA RIGS INCREASE AND II) OIL CONTANGO IS DISAPPEARING/WILL CAUSE OIL TO FALTER/IN USA, THE UNIV. OF MICHIGAN CONSUMER CONFIDENCE INDEX FALTERS
Gold: $1,253.80 down $10.70 (comex closing time)
Silver 15.81 down 22 cents
In the access market 5:15 pm
Yesterday afternoon as soon as the CME released the open interest on gold and silver I knew that a raid was coming and I emailed the CFTC that it would be forthcoming. This morning I wrote to them again telling them that the “boys did not disappoint me” with their antics.
However this afternoon’s data is quite telling. The OI on silver skyrocketed by almost 9,000 contracts to almost 177,500 contracts. Now both comex gold and comex silver are at multi year highs. The last time gold was at 500,000 was in late Sept 2012 and the gold price was $1700.00 USA. We are at the same OI but 445 dollars apart. The open interest with respect to silver has been at these elevated levels for years. No doubt we have a strong entity waiting in the wings (the longs) to pounce on silver when it is convenient for them.
Let us have a look at the data for today.
At the gold comex today, we had a poor delivery day, registering 0 notices for nil ounces and for silver we had 242 notices for 1210,000 oz for the active March delivery month.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 213.23 tonnes for a loss of 90 tonnes over that period.
In silver, the open interest rose by an astonishing 8985 contracts up to 177,490 as the silver up by 81 cents yesterday . In ounces, the OI is still represented by .888 billion oz or 127% of annual global silver production (ex Russia ex China).
In silver we had 242 notices served upon for 1,210,000 oz.
In gold, the total comex gold OI rose also by a huge 6711 contracts to 508,262 contracts as the price of gold was UP $35.20 with yesterday’s trading.(at comex closing). The rise in OI in gold should add considerable pressure on our bankers and thus expect future raids.
We had another big change in gold inventory at the GLD, another identical whopping deposit of 11.89 tonnes/ thus the inventory rests tonight at 818.98 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 A BIG change in inventory, ANOTHER DEPOSIT OF 2.665 MILLION OZ/ and thus the Inventory rests at 328.533 million oz
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver rose by 8985 contracts up to 177,490 as the price of silver was UP 81 cents with yesterday’s trading. The total OI for gold rose by 6,711 contracts to 508,262 contracts as gold was up $35.20 in price from yesterday’s level.
2 a) Gold trading overnight, Goldcore
b) COT report
3. ASIAN AFFAIRS
i) Late THURSDAY night/ FRIDAY morning: Shanghai closed UP BY 50.31 POINTS OR 1.73% , / Hang Sang closed UP by 167.82 points or 0.82% . The Nikkei closed DOWN 211.57 or 1.25%. Australia’s all ordinaires was UP 0.24%. Chinese yuan (ONSHORE) closed UP at 6.4731. Oil ROSE to 40.82 dollars per barrel for WTI and 42.09 for Brent. Stocks in Europe so far ALL IN THE GREEN . Offshore yuan trades 6.4726 yuan to the dollar vs 6.4731 for onshore yuan/ON WEDNESDAY, China’s industrial production collapsed along with retail sales. JAPAN RE SIGNALS that they may continue with nirp a little longer which sends the USA/Yen spiraling northbound/markets in Japan tumble . Japan’s exports plummet (see below).ON WEDNESDAY, China signals that they are going to tax financial transactions. This morning they AGAIN raise the yuan trapping the shorts with huge losses
ii) report on Japan
WOW!! a) Japanese yields climb to -.137% and ends up at -.107% this morning. Yields on the 30 yr Japanese bond is barely above zer0. The yield curve inverts which means that Japan is now in a recession.
(courtesy zero hedge)
Catalonia is blackmailing Spain to pay its overdue bank loans. If Spain does no pay then Catalonia defaults sending their entire country into disarray
(courtesy zero hedge)
5.RUSSIAN AND MIDDLE EASTERN AFFAIRS
The deal ,announced today between the EU and Turkey, does not a chance of working. But Erdogan certainly receives 3 billion and quite possibly 6 billion euros
( zero hedge)
i)Caterpillar, a terrific stock to measure what is going on in the global economy is signalling an industrial depression yet it’s stock has risen by 30% from its lows. In yesterday’s reporting of earnings, they stated that the bottom has now fallen out and they are in a freefall!
( zero hedge)
ii)And the following is causing major headaches for our central bankers. As many nations are now in NIRP and the rest at ZIRP or close to it as well as undergoing massive QE, they are finding their currencies rising instead of falling and thus defeating the purpose of stimulating their economies.
OH OH! Rousseff is defiant as an impeachment vote is set for April
(courtesy zero hedge
iii)The USA has two major subprime problems:
a) student loans
b) auto loans
Tonight, the auto delinquencies soar past crisis 2008.
(courtesy zero hedge)
iv) Let us end the week with this wrap up courtesy of greg Hunter
( Greg Hunter/USAWatchdog)
Let us head over to the comex:
The total gold comex open interest rose to 508,262 for a gain of 6711 contracts as the price of gold was up $35.20 in price. Expect our bankers to undergo relentless attacks on our two precious metals. 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 or for that matter an inactive month, and 2) a continual drop in the amount of gold standing in an active month. Today, only the first scenario was in order as we actually gained in actual ounces of gold standing. The front March contract month saw its OI rise by 1 contract up to 150.We had 0 notices filed upon yesterday, and as such we gained 1 contract or an additional 100 oz will stand for delivery. After March, the active delivery month of April saw it’s OI rise by 4,152 contracts up to 252,604. This high level is scaring our crooked bankers. The estimated volume today (which is just comex sales during regular business hours of 8:20 until 1:30 pm est) was 199,049 which is very good.. The confirmed volume yesterday (which includes the volume during regular business hours + access market sales the previous day was good at 239,272 contracts. The comex is not in backwardation .
March contract month:
INITIAL standings for MARCH
|Withdrawals from Dealers Inventory in oz||nil|
|Withdrawals from Customer Inventory in oz nil||1,662.47 OZbrinks,Scotia
includes 30 kilobars
|Deposits to the Dealer Inventory in oz||nil|
|Deposits to the Customer Inventory, in oz||64,300.000 OZ2,000 KILOBARS|
|No of oz served (contracts) today||0 contract
|No of oz to be served (notices)||150 contracts(15,000 oz)|
|Total monthly oz gold served (contracts) so far this month||585 contracts (58,500 oz)|
|Total accumulative withdrawals of gold from the Dealers inventory this month||nil|
|Total accumulative withdrawal of gold from the Customer inventory this month||128,670.4 oz|
we had 1 adjustment:
out of Brinks:
201.65 oz was adjusted out of the dealer and this landed into the customer account.
MARCH INITIAL standings/March 18/2016:
|Withdrawals from Dealers Inventory||nil|
|Withdrawals from Customer Inventory||54,476.47 oz (Scotia,Brinks,Delaware)|
|Deposits to the Dealer Inventory||581,753.79 ozCNT|
|Deposits to the Customer Inventory||18,212.48 ozcnt|
|No of oz served today (contracts)||242 contracts 1210,000 oz|
|No of oz to be served (notices)||433 contract (2,165,000 oz)|
|Total monthly oz silver served (contracts)||971 contracts (4,855,000 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||10,150,743.6 oz|
today we had 1 deposits into the dealer account
i) into CNT: 581,753.79 oz
total dealer deposit: 581,753.79 oz
we had 0 dealer withdrawals:
total dealer withdrawals: nil
we had 1 customer deposits
i) Into CNT: 18,212.48 oz
total customer deposits: 18,212.48 oz
We had 3 customer withdrawal:
i) Out of Scotia: 50,421.87 oz
ii) Out of Delaware: 2038.700 oz
iii) Out of Brinks; 2015.85 oz
total customer withdrawals: 54,476.420 oz
we had 1 adjustment
i) Out of CNT: 617,589.34 oz was adjusted out of the customer account and this landed into the dealer account of CNT
|Gold COT Report – Futures|
|Change from Prior Reporting Period|
|non reportable positions||Change from the previous reporting period|
|COT Gold Report – Positions as of||Tuesday, March 15, 2016|
|Silver COT Report: Futures|
|Small Speculators||Open Interest||Total|
|non reportable positions||Positions as of:||144||126|
|Tuesday, March 15, 2016||© SilverSeek.co|
And now the Gold inventory at the GLD:
March 18.I GIVE UP!! WITH GOLD DOWN TODAY, THE CROOKS OVER AT GLD ADDED ANOTHER IDENTICAL 11.89 TONNES OF PAPER GOLD INTO THEIR INVENTORY.
INVENTORY RESTS THIS WEEKEND AT 818.98 TONNES. IF I WAS A SHAREHOLDER OF THIS ENTITY I WOULD BE VERY WORRIED.
March 17/we had a whopper of a deposit tonight: 11.89 tonnes/with London in backwardation this is nothing but a paper addition/inventory rests tonight at 807.09 tonnes
March 16.2016:/we had a deposit of 2.09 + 2.97(last in the evening) tonnes of gold into the GLD/Inventory rests at 795.20 tonnes
March 15/ no changes in gold inventory at the GLD/Inventory rests at 790.14 tonnes
March 14/a huge change in gold inventory at the GLD, a withdrawal of 8.63 tonnes/Inventory rests at 790.14 tonnes
March 11 /despite the high volatility of gold last night and today, somehow the GLD added 5.95 tonnes of gold without disturbing anyone./inventory rests this weekend at 798.77 tonnes
March 10/a deposit of 2.08 tonnes of gold into the GLD/Inventory rests at 702.82 tonnes
March 9/a withdrawal of 2.38 tonnes of gold from the GLD/Inventory rests at 790.74
March 18.2016: inventory rests at 818.98 tonnes