POOR CPI NUMBERS COUPLED WITH POOR RETAIL SALES SENDS GOLD AND SILVER NORTHBOUND WITH THE DOLLAR SINKING…
TURKEY TURNS ITS BACK ON THE WEST: PURCHASES DEFENSE MISSILES FROM RUSSIA/TURKEY WILL NOT LET GERMANY VISIT ITS FORCES AT INCIRLIK
GOLD: $1230.30 UP $12.00
Silver: $15.96 UP 21 cent(s)
Closing access prices:
SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
SHANGHAI FIRST GOLD FIX: $1226.61 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1216.15
PREMIUM FIRST FIX: $10.46
SECOND SHANGHAI GOLD FIX: $1226.95
NY GOLD PRICE AT THE EXACT SAME TIME: $1218.10
Premium of Shanghai 2nd fix/NY:$8.85
LONDON FIRST GOLD FIX: 5:30 am est $1218.95
NY PRICING AT THE EXACT SAME TIME: $1218.95
LONDON SECOND GOLD FIX 10 AM: $1230.30
NY PRICING AT THE EXACT SAME TIME. $1231.60
For comex gold:
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 2 NOTICE(S) FOR 200 OZ.
TOTAL NOTICES SO FAR: 117 FOR 11700 OZ (.3639 TONNES)
8 NOTICES FILED TODAY FOR
Total number of notices filed so far this month: 2815 for 14,075,000 oz
I HAVE BEEN TOLD LAST NIGHT AT THE CANADIAN ROYAL MINT HAS RUN OUT OF 10 OZ AND 100 OZ BARS OF SILVER AND WILL NOT BE BACK IN PRODUCTION UNTIL LATE AUGUST. SILVER IS ALSO DEEPLY BACKWARD IN PRICE JULY/SEPT IN LONDON FORWARDS.
Let us have a look at the data for today
In silver, the total open interest FELL BY 2121 contract(s) DOWN to 206,358 WITH THE FALL IN PRICE THAT SILVER TOOK WITH YESTERDAY’S TRADING (DOWN 18 CENT(S). WITH THE DATA TODAY, THE ONLY EXPLANATION IS THE COMMERCIALS CONTINUED AS THE SUPPLIER OF THE SHORT PAPER AND COVERED SOME OF THEIR SHORTS. THE SPECULATORS PITCHED SOME OF THEIR LONG SIDE PAPER
In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.033 BILLION TO BE EXACT or 148% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 8 NOTICE(S) FOR 40,000 OZ OF SILVER
In gold, the total comex gold FELL BY A RATHER TAME 3,841 CONTRACTS WITH THE FALL IN THE PRICE OF GOLD ($1.50 with YESTERDAY’S TRADING). The total gold OI stands at 487,597 contracts. AGAIN, THE COMMERCIALS SUPPLIED THE SHORT PAPER TO WHICH THE SPECULATORS DECIDED TO LIGHTEN UP A BIT ON THEIR LONGS TO WHICH SOME OF THE COMMERCIALS COVERED THEIR SHORT POSITION.
we had 2 notice(s) filed upon for 200 oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
Today a huge change in tonnes of gold at the GLD/strange!! a withdrawal of 3.55 tonnes with gold up $12.00
Inventory rests tonight: 828.84 tonnes
Today: : , WE HAD NO CHANGES AT THE SLV/
INVENTORY RESTS AT 349.012 MILLION OZ
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver FELL BY 2121 contracts DOWN TO 206,358 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787), WITH THE FALL IN PRICE FOR SILVER WITH YESTERDAY’S TRADING (DOWN 18 CENTS ).We SEEM TO HAVE LOST A FEW OF OUR LONGS. HOWEVER THE OI REMAINS RELATIVELY HIGH COMPARED TO THE LOW PRICE OF SILVER. SILVER IS THE ONLY COMMODITY WHERE WE WITNESS A HIGH OI AND A CORRESPONDING LOW PRICE. IT SHOWS THE POWER OF MANIPULATION.
2.a) The Shanghai and London gold fix report
2 b) Gold/silver trading overnight Europe, Goldcore
and in NY: Bloomberg
3. ASIAN AFFAIRS
i)Late THURSDAY night/FRIDAY morning: Shanghai closed UP 4.25 POINTS OR 0.13% / /Hang Sang CLOSED UP 43.06 POINTS OR 0.16% The Nikkei closed UP 19.05 POINTS OR 0.09%/Australia’s all ordinaires CLOSED UP 0.51%/Chinese yuan (ONSHORE) closed UP at 6.7825/Oil UP to 46.47 dollars per barrel for WTI and 48.85 for Brent. Stocks in Europe OPENED ALL IN THE GREEN EXCEPT LONDON,, Offshore yuan trades 6.7825 yuan to the dollar vs 6.7825 for onshore yuan. NOW THE OFFSHORE IS EQUAL TO THE ONSHORE YUAN/ ONSHORE YUAN STRONGER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE WEAKER DOLLAR. CHINA IS HAPPY TODAY
3a)THAILAND/SOUTH KOREA/NORTH KOREA
China states that supposedly trade with North Korea grew by only 10.5% in the first 6 months of 2017….the USA wants China to cut off all trade with North Korea.
( zero hedge)
b) REPORT ON JAPAN
c) REPORT ON CHINA
NHA is one of China’s biggest dealmaker and even though it is private, it holds huge quantities of public companies. It has used its shares and the shares of its acquisitions as to fund the purchases. Everything is fine until the price of those acquisitions drop and the face margin calls from Hell..this could present a systemic risk along side Anbang which I brought to your attention last month
4. EUROPEAN AFFAIRS
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
Not good: Turkey turns its back on the West (NATO) towards Russia as it buys from its new found friend an advanced missile system for $2.5 billion.
( zero hedge)
ii) To add salt to injury, Turkey bars German lawmakers from visiting its soldiers at NATO’s Incirlik airbase in Turkey
6 .GLOBAL ISSUES
7. OIL ISSUES
i)Saudi Arabia may have a huge problem with corrosion in one of its major oil fields. If Saudi Arabia has to stop production to remedy the situation, this would remove a major part of the glut
( Cyril Widdershoven/OilPrice.com)
ii) Bearish again for oil as rig count rises to April 2015 level
8. EMERGING MARKET
9. PHYSICAL MARKETS
ii)This is big news: Russia’s Sberbank begins physical gold trading on the Shanghai Gold Exchange:
iii)Cryptos collapse today:
10. USA Stories
First: Comfort Index plunged! (soft data)
( zero hedge)
ii)The following is a huge disappoint to the uSA and the Fed: Hard data Consumer prices disappoint for the 4th month in a row: weakest since 2015:
( zero hedge)
iv)reaction to the above data points this morning:
( zero hedge)
vi)Soft data University of Michigan Consumer Confidence tumbles to levels before the election as hope disappears:
(courtesy zero hedge)
Prior to last night, it was well understood that the USA will run out of money by the first week of October. When the official debt ceiling was reached in March the government had about 630 billion USA of pension and other pension funds to borrow against to continue spending until everything is exhausted. However last night, there was an unexpected $427 billion outlay in June much greater than the $330 billion incoming and that deficit caught everyone by surprise. June is generally a surplus month. Since the Republicans and Democrats cannot agree on anything expect us to reach the “latest” debt ceiling at around the first week of Sept and remember that all members will be enjoying their summer recess
( zero hedge)
( zero hedge)
Let us head over to the comex:
The total gold comex open interest FELL BY A RATHER TAME 3,841 CONTRACTS DOWN to an OI level of 487,597 WITH THE FALL IN THE PRICE OF GOLD ($1.50 with YESTERDAY’S trading). THE COMMERCIALS SUPPLIED THE SHORT PAPER TO WHICH THE SPECULATORS LIGHTENED UP ON THE LONG SIDE. THERE WAS SOME COMMERCIAL SHORT COVERING.
We are now in the contract month of JULY and it is one of the POORER delivery months of the year. .
The non active July contract LOST 53 contract(s) to stand at 32 contracts. We had only 52 notices filed YESTERDAY morning, so we LOST 1 contracts or an additional 100 oz will NOT stand in this non active month of July. Thus 1 EFP notice(s) was given which gives the long holder a fiat bonus plus a futures contract for delivery and most likely these are London based forwards. The contracts are private so we do not get to see all the particulars. The next big active month is August and here the OI LOST 16,656 contracts DOWN to 246,805, as this month winds down prior to first day notice. The next non active contract month is September and here they lost another 5 contracts to stand at 476. The next active delivery month is October and here we gained 430 contracts up to 22,062. October is the poorest of the active gold delivery months as most players move right to December.
We had 2 notice(s) filed upon today for 200 oz
For those keeping score: in the upcoming front delivery month of August:
On July 11.2016: open interest for the front month: 349,573 contracts compared to July 14.2017: 264,461.
However last yr at this time we had a record OI in gold at 655,000 contract for the entire complex.
We are now in the next big active month will be July and here the OI LOST 41 contracts DOWN to 110. We had 50 notices served yesterday so we gained 9 notices or an additional 45,000 oz will stand at the comex, and 0 EFP contracts were issued which entitles them to receive a fiat bonus and a future delivery contract (which no doubt is a London based forward).
The month of August, a non active month LOST 126 contracts to stand at 608. The next big active delivery month for silver will be September and here the OI already LOST ANOTHER 1815 contracts UP to 155,253.
The line in the sand is $18.50 for silver and again it has been defended by the criminal bankers. Once this level is pierced, the monstrous billion oz of silver shorts will blow up. The bankers are defending the Alamo with their last stand at the $18.50 mark. THE NEW RECORD HIGH IN OPEN INTEREST WAS SET FRIDAY APRIL 21/2017 AT: 234,787.
As for the July contracts:
Initial amount that stood for silver for the July 2016 contract: 14.785 million oz
Final standing JULY 2016: 12.370 million with the difference being EFP’s taking delivery in London. Thus we are basically on par to what happened a year ago as to the total amount of silver ounces standing.
We had 8 notice(s) filed for 40,000 oz for the June 2017 contract
VOLUMES: for the gold comex
Today the estimated volume was 159,488 contracts which is fair/
Yesterday’s confirmed volume was 287,789 contracts which is excellent
volumes on gold are STILL HIGHER THAN NORMAL!
|Withdrawals from Dealers Inventory in oz||nil|
|Withdrawals from Customer Inventory in oz||
|Deposits to the Dealer Inventory in oz||NIL oz|
|Deposits to the Customer Inventory, in oz||
1 kilobar Brinks
|No of oz served (contracts) today||
|No of oz to be served (notices)||
|Total monthly oz gold served (contracts) so far this month||
|Total accumulative withdrawals of gold from the Dealers inventory this month||NIL oz|
|Total accumulative withdrawal of gold from the Customer inventory this month||28,599.8 oz|
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 2 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.
|Withdrawals from Dealers Inventory||nil|
|Withdrawals from Customer Inventory||
|Deposits to the Dealer Inventory||
|Deposits to the Customer Inventory||
|No of oz served today (contracts)||
|No of oz to be served (notices)||
( 510,000 oz)
|Total monthly oz silver served (contracts)||2815 contracts (14,075,000 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||874,711.7 oz|
NPV for Sprott and Central Fund of Canada
Sprott’s hostile 3.1 billion bid to take over Central Fund of Canada
Sprott makes hostile $3.1 billion bid for Central Fund of Canada
Submitted by cpowell on Thu, 2017-03-09 01:19. Section: Daily Dispatches
From the Canadian Press
via Canadian Broadcasting Corp. News, Toronto
Wednesday, March 8, 2017
Toronto-based Sprott Inc. said Wednesday it’s making an all-share hostile takeover bid worth $3.1 billion US for rival bullion holder Central Fund of Canada Ltd.
The money-management firm has filed an application with the Court of Queen’s Bench of Alberta seeking to allow shareholders of Calgary-based Central Fund to swap their shares for ones in a newly-formed trust that would be substantially similar to Sprott’s existing precious metal holding entities.
The company is going through the courts after its efforts to strike a friendly deal were rebuffed by the Spicer family that controls Central Fund, said Sprott spokesman Glen Williams.
“They weren’t interested in having those discussions,” Williams said.
Sprott is using the courts to try to give holders of the 252 million non-voting class A shares a say in takeover bids, which Central Fund explicitly states they have no right to participate in. That voting right is reserved for the 40,000 common shares outstanding, which the family of J.C. Stefan Spicer, chairman and CEO of Central Fund, control.
If successful through the courts, Sprott would then need the support of two-thirds of shareholder votes to close the takeover deal, but there’s no guarantee they will make it that far.
“It is unusual to go this route,” said Williams. “There’s no specific precedent where this has worked.”
Sprott did have success last year in taking over Central GoldTrust, a similar fund that was controlled by the Spicer family, after securing support from more than 96 percent of shareholder votes cast.
The firm says Central Fund’s shares are trading at a discount to net asset value and a takeover by Sprott could unlock US$304 million in shareholder value.
Central Fund did not have any immediate comment on the unsolicited offer. Williams said Sprott had not yet heard from Central Fund on the proposal but that some shareholders had already contacted them to voice their support.
Sprott’s existing precious metal holding companies are designed to allow investors to own gold and other metals without having to worry about taking care of the physical bullion.
And now the Gold inventory at the GLD
July 14/strange@!!with gold up $12.00 today, we had a huge withdrawal of 3.55 tonnes/inventory rests at 828.84 tonnes
July 13/no change in gold inventory at the GLD/inventory rests at 832.39 tonnes
JULY 12/no change in gold inventory at the GLD/inventory rests at 832.39 tonnes
July 11/strange!@! we had a big withdrawal of 2.96 tonnes despite gold’s advance today/inventory rests tonight at 832.39 tonnes
July 10/no changes in gold inventory at the GLD/inventory rests at 835.35 tonnes
July 7/a massive withdrawal of 5.32 tonnes of paper gold were removed and this was used in the attack today/inventory rests at 835.35 tonnes
July 6/no changes in tonnage at the GLD/Inventory rests at 840.67 tonnes
July 5/A MASSIVE 5.62 TONNES OF GOLD LEFT THE GLD AND NO DOUBT WAS USED IN THE RAID THIS MORNING/INVENTORY REST
July 3/ A MASSIVE 7.37 TONNES OF GOLD LEAVE THE GLD/INVENTORY RESTS AT 846.29 TONNES
June 30/no change in gold inventory at the GLD/Inventory rests at 853.66 tonnes
June 29/no change in inventory at the GLD/inventory rests at 853.66 tonnes
June 28/no change in inventory at the GLD/Inventory rests at 853.66 tonnes
June 27.2017/a deposit of 2.64 tonnes into the GLD/inventory rests at 853.66 tonnes
June 26/a withdrawal of 2.66 tonnes from the GLD and this gold no doubt was part of the raid/Inventory rests at 851.02
June 23/no change in gold inventory at the GLD/Inventory rests at 853.68 tonnes
June 22/no change in gold inventory at the GLD/Inventory rests at 853.68 tonnes
June 21/no change in gold inventory at the GLD/Inventory rests at 853.68 tonnes
June 20/no change in gold inventory at the GLD//Inventory rests at 853.68 tonnes
June 19/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 853.68 TONNES
June 16/no changes in gold inventory at the GLD/Inventory rests at 853.68 tonnes
June 15/ a monstrous “paper” withdrawal of 13.32 tonnes/Inventory rests at 853.68 tonnes
June 14./NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 867.00 TONNES
June 13. No change in gold inventory at the GLD/Inventory rests at 867.00 tonnes
June 12/No change in gold inventory at the GLD/Inventory rests at 867.00 tonnes
June 9/no change in inventory at the GLD/Inventory rests at 867.00 tonnes
June 8/AN ADDITION OF 3.07 TONNES OF GOLD ADDED TO THE GLD/INVENTORY RESTS AT 867.00 TONNES
June 7 a huge change in inventory/a deposit of 13.93 tonnes/inventory rests at 864.93 tonnes
June 6/ no changes in inventory at the GLD/Inventory remains at 851.00 tonnes
June 5.2017/no changes at the GLD/Inventory remain at 851.00 tonnes
June 2/2017/a huge deposit of 3.55 tonnes of gold into the GLD/Inventory rests at 851.00 tonnes
June 1/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 847.45 TONNES
Now the SLV Inventory
July 14/no change in silver inventory/inventory rests at 349.012 million oz/
July 13/no change in silver inventory/inventory at the SLV rests at 349.012 million oz/
JULY 12/another massive 1.986 million oz of silver added into the SLV/inventory rests at 349.012 million oz/the last 3 days saw 7.281 million oz added into the SV
July 11/ANOTHER MASSIVE INCREASE OF 2.364 MILLION OZ into the SLV inventory/inventory rests at 347.026 million oz
July 10/ A HUGE INCREASE OF 2.931 MILLION OZ OF SILVER DESPITE THE EARLY HIT ON SILVER THIS MORNING/INVENTORY RESTS AT 344.662 MILLION OZ.
July 7/Strange: no change in inventory (compare that with gold) Inventory rests at 341.731 million oz
July 6/ANOTHER MASSIVE DEPOSIT OF 2.126 MILLION OZ INTO THE SLV INVENTORY/INVENTORY RESTS AT 341.731 MILLION OZ.
July 5/STRANGE! NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 339.605 MILLION OZ
July 3/strange! with the huge whacking of silver we got an increase of 379,000 oz into inventory.
June 30/no change in silver inventory at the SLV/Inventory rests at 339.226 million oz
June 29/no change in silver inventory at the SLV/Inventory rests at 339.226 million oz/
June 28/ a small withdrawal of 662,000 oz form the SLV/Inventory rests at 339.226 million oz/
June 27/no change in the silver inventory at the SLV/Inventory rests at 339.888 million oz/
June 26/no change in the silver inventory at the SLV/Inventory rests at 339.888 million oz/
June 23/no change in silver inventory at the SLV/Inventory rests at 339.888 million oz
June 22/ a big change; a huge deposit of 2.175 million oz into the SLV/Inventory rests at 339.888 million oz
June 21/no change in silver inventory at the SLV/inventory rests at 337.713 million oz
June 20/a deposit of 1.513 million oz/inventory rests at 337.713 million oz/.
June 19/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 336.200 MILLION OZ
June 16/no changes in inventory at the SLV/inventory rests at 336.200 million oz
June 15/ a massive “paper withdrawal” of 3.405 million oz of silver/Inventory rests at 336.200 million oz/
June 14/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 339.605 MILLION OZ/
June 13/no change in silver inventory at the SLV/Inventory rests at 339.605 million oz
June 12/no change in silver inventory at the SLV/Inventory rests at 339.605 million oz/
June 9/no change in silver inventory at the SLV/Inventory rests at 339.605 million oz/
June 8/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 339.605 MILLION OZ/
June 7/no change in inventory at the SLV/inventory rests at 339.605 million oz/
June 6/no change in inventory at the SLV/Inventory rests at 339.605 million oz.
June 5/a huge change at the SLV/a withdrawal of 1.371 million oz /inventory rests at 339.605 million oz/
June 2/no change in silver inventory at the SLV/Inventory rests at 340.976 million oz/
June 1/NO CHANGE IN INVENTORY AT THE SLV/INVENTORY RESTS AT 340.976 MILLION OZ
Indicative gold forward offer rate for a 6 month duration+ 1.08%
|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, July 11, 2017|
Our large speculators
those large speculators that have been long in gold pitched 4,044 contracts from their short side
those large speculators that have been short in gold added a whopping 29,495 contracts to their short side and thus by today if the data is half accurate would be annihilated.
thus the large specs go net short by 33,000
those commercials that have been long in gold went long a huge 16,628 contracts to their long side
those commercials that have been short in gold covered 16,652 contracts from their short side.
thus the commercials go net long by a tiny 33,000 contracts.
Our small speculators
those small specs that have been long in gold pitched 1907 contracts from their long side
those small specs that have been short in gold covered 2136 contracts from their short side.
the commercials continue buying up gold contracts and the specs continue on the short side and yet the annihilation was so far tiny!
James McShirley: I need help on this one!!
Let us now head over to the silver COT
let us see if we witness the same modus operandi by the crooked banks
|Silver COT Report: Futures|
|Small Speculators||Open Interest||Total|
|non reportable positions||Positions as of:||173||127|
|Tuesday, July 11, 2017||© SilverS|
Our large speculators
those large specs that have been long in silver pitched 822 contracts from their long side
those large specs that have been short in silver continued to add to their shorts by a whopping 10,705 contracts.
the large specs went net short by 12,300 contracts.
the specs seemed to stop adding to their shortfall on Thursday but that will be in the next COT report
those commercials that have been long in silver added 3956 contracts to their long side
those commercials that have been short in silver covered 10,705 contracts
the commercials go net long by 14,600 contracts.
Our small speculators
those small specs that have been long in silver pitched 2390 contracts from their long side.
those small specs that have been short in silver added one contract to their short side.
the specs went net short again by 12,300 with the commercials going net long by 14,600 contracts..and yet the price did not move until today
the specs should have been annihilated by now!!