The commercials that have been short in silver covered a huge 5455 contracts from their short side.
Conclusions: the commercials go net long by 8440 contracts!
Something is bothering them and it may explain the huge activity inside the COMEX vaults…
GLD ADDS A WHOPPING 7.13 TONNES TO ITS INVENTORY/SLV ADDS 5.426 MILLION OZ TO ITS INVENTORY/THE BIG NEWS OF THE DAY; BLACKROCK’S GOLD ETF, IAU SUSPENDS THE ISSUANCE OF SHARES BECAUSE DEMAND FOR GOLD IS TOO STRONG (REAL MEANING: THEY CANNOT FIND PHYSICAL)/FORMER BRAZILIAN PRESIDENT LULA HELD BY FEDERAL POLICE: CHARGES PENDING AFTER A RAID ON HIS HOUSE/HONG KONG TO CHANGE ITS FUTURE GOLD CONTRACTS STATING THAT IT WILL BE SETTLED NOW ONLY IN PHYSICAL GOLD PRICED IN YUAN OR DOLLARS: PREVIOUSLY ONLY CASH SETTLED/ANOTHER PHONY JOBS REPORT OF 242,000 JOBS GAINS (WITH A 129,000 BIRTH/DEATH PLUG ADDITION/HUGE DISAPPEARANCE OF THE USA 10 YR TREASURIES AS COLLATERAL IS DISSIPATING RAPIDLY/AT END OF THE DAY, THE FED INTENDS TO LIMIT BANK’S EXPOSURE ON ONE COUNTERPARTY: BANKS DO NOT LIKE THAT!
Gold: $1,269.90 up $12.50 (comex closing time)
Silver 15.68 up 55 cents
In the access market 5:15 pm
At the gold comex today, we had a fair delivery day, registering 16 notices for 1600 ounces and for silver we had 102 notices for 510,000 oz for the active March delivery month.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 212.03 tonnes for a loss of 91 tonnes over that period.
In silver, the open interest rose by 1033 contracts up to 164,801. In ounces, the OI is still represented by .824 billion oz or 118% of annual global silver production (ex Russia ex China). Generally as we go into an active delivery month the liquidation is much bigger.
In silver we had 102 notices served upon for 510,000 oz.
In gold, the total comex gold OI rose by a gigantic 25,944 contracts to 482,938 contracts as the price of gold was up $16.30 with yesterday’s trading.(at comex closing)
We had another huge change in gold inventory at the GLD, a mammoth sized deposit of 7,13 tonnes and gold goes down early this morning? and rises only slightly? / thus the inventory rests tonight at 793.33 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 again had a major change in inventory/this time another huge deposit of 5.426 million oz and thus the Inventory rests at 319.776 million oz
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver rose by 1033 contracts up to 164,801 as the price of silver was up 13 cents with yesterday’s trading. The total OI for gold rose by 25,944 contracts to 482,938 contracts as gold was up $16.30 in price from yesterday’s level.
2 a) Gold trading overnight, Goldcore
2b) COT report
3. ASIAN AFFAIRS
i)Late THURSDAY night/ FRIDAY morning: Shanghai closed UP BY 14.39 POINTS OR 0.50% ON A LAST HR RESCUE, / Hang Sang closed UP by 234.94 points or 1.18% . The Nikkei closed UP 54.62 or 0.32%. Australia’s all ordinaires was UP .18%. Chinese yuan (ONSHORE) closed UP at 6.5120. Oil GAINED to 34.69 dollars per barrel for WTI and 37.20 for Brent. Stocks in Europe so far IN THE GREEN . Offshore yuan trades 6.5098 yuan to the dollar vs 6.5120 for onshore yuan/ ON WEDNESDAY, MOODYS DOWNGRADES CHINA’S CREDIT FROM STABLE TO NEGATIVE
ii) Yuan soars on POBC intervention
i) Surprisingly WTI crude spikes to 2 month highs on the massive short squeeze we are witnessing
( zero hedge)
ii)Rig counts continue to decline. They dropped below 400 for the first time since 2009:
( zero hedge)
i)THE BIG STORY OF THE DAY:
“Brexit and a Hanseatic League”
v)Bill Holter’s paper is a good one. It is entitled:
vi)Good reason for copper to rise today: Chinese inventories skyrocket
USA STORIES WHICH WILL INFLUENCE THE PRICE OF GOLD AND SILVER
i)payrolls surge 242,000!! even as hourly earnings unexpectedly drop: the official release!
ix) This week’s wrap up with greg Hunter
Let us head over to the comex:
The total gold comex open interest rose to a high of 482,938 for a monstrous gain of 25,944 contracts as the price of gold was up $16.30 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 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 number of ounces standing for March. The front March contract month saw its OI fall by 65 contracts down to 106.We had 87 notices filed yesterday, and as such we gained 22 contracts or an additional 2200 oz will stand for delivery. After March, the active delivery month of April saw it’s OI rise by 15,803 contracts up to 315,469. The estimated volume today (which is just comex sales during regular business hours of 8:20 until 1:30 pm est) was 369,479 which is humongous. The confirmed volume yesterday (which includes the volume during regular business hours + access market sales the previous day was excellent at 258,872 contracts.It seems that the bankers supplied the necessary gold paper today with reckless abandon. The comex is back in backwardation until April.
March contract month:
INITIAL standings for MARCH
|Withdrawals from Dealers Inventory in oz||nil|
|Withdrawals from Customer Inventory in oz nil||2025.45 oz(Scotia)
|Deposits to the Dealer Inventory in oz||30,126.65 ozBRINKS|
|Deposits to the Customer Inventory, in oz||28,711.89 ozSCOTIA|
|No of oz served (contracts) today||16 contracts
|No of oz to be served (notices)||90 contracts(9000 oz)|
|Total monthly oz gold served (contracts) so far this month||521 contracts (52,100 oz)|
|Total accumulative withdrawals of gold from the Dealers inventory this month||nil|
|Total accumulative withdrawal of gold from the Customer inventory this month||101,471.1 oz|
we had 0 adjustment
MARCH INITIAL standings/
|Withdrawals from Dealers Inventory||nil|
|Withdrawals from Customer Inventory|| 2,108,993.611 oz(Delaware,Scotia, JPM)
|Deposits to the Dealer Inventory||nil|
|Deposits to the Customer Inventory||361,657.56 oz
|No of oz served today (contracts)||102 contracts 510,000 oz|
|No of oz to be served (notices)||2664 contract (13,320,000 oz)|
|Total monthly oz silver served (contracts)||320 contracts (1,600,000 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||7,036,067.3 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 deposit
i) Into Scotia: 361,657.56 oz
total customer deposits: 361,657.56 oz
total withdrawals from customer account 2,108,993.611 oz
we had 0 adjustment
And now the Gold inventory at the GLD:
MARCH 4/another mammoth sized deposit of 7.13 tonnes of gold into GLD/Inventory rests at 793.33 tonnes. This is no doubt a “a paper addition” and not physical
MAR 3/another good sized deposit of 2.37 tonnes of gold into the GLD/Inventory rests at 788.57 tonnes
MAR 2/another mammoth paper gold addition of 8.93 tonnes of gold into the GLD/Inventory rests at 786.20 tonnes.
March 1/a mammoth 14.87 tonnes of gold deposit into the GLD/inventory rests at 770.27 tonnes
FEB 29/another deposit of 2.08 tonnes of gold into the GLD/Inventory rests at 762.40 tonnes
Feb 26./no change in gold inventory at the GLD/Inventory rests at 760.32 tonnes
Feb 25./we had a huge deposit of 7.33 tonnes of gold into the GLD/Inventory rests at 760.32 tonnes. No doubt that this is a paper gold deposit/not real as the price of gold hardly moved on that huge amount of deposit.
FEB 24/no change in gold inventory at the GLD/Inventory rests at 752.29 tonnes
FEB 23./another huge addition of 19.3 tonnes of gold into its inventory/Inventory rests at 752.29 tonnes. Again how could they accumulate this quantity of gold with backwardation in London/this vehicle is nothing but a fraud
Feb 22/A huge addition of 19.33 tonnes of gold to its inventory/Inventory rests at 732.96 tonnes/ How could this happen: a huge addition of gold coupled with a huge downfall of 20 dollars in gold.
FEB 19/a huge deposit of 2.68 tonnes of gold into the GLD/Inventory rests at 713.63 tonnes
fEB 18/no change in gold inventory at the GLD/Inventory rests at 710.95 tonnes
fEB 17/no change in gold inventory at the GLD/Inventory rests at 710.95 tonnes
March 4.2016: inventory rests at 793.33 tonnes
At 3:30 pm we receive the COT report from the CME.
|Gold COT Report – Futures|
|Change from Prior Reporting Period|
|non reportable positions||Change from the previous reporting period|
|COT Gold Report – Positions as of|
Our large specs:
those large specs that have been long in gold pitched 4195 contracts from their long side as we approached first day notice in March
those large specs that have been short in silver covered 11,630 contracts from their short side.
those commercials that have been long in gold pitched 5283 contracts from their long side.
those commercials that have been short in gold only added 2999 contracts to their short side.
Our small specs:
those small specs that have been long in gold added 1700 contracts to their long side
those small specs that have been short in gold added 853 contracts to their short side.
Conclusions: our criminal commercials only went net short by 5582 contracts. I expected worse.
And now for silver
|Silver COT Report: Futures|
|Small Speculators||Open Interest||Total|
|non reportable positions||Positions as of:||145||120|
|Tuesday, March 01, 2016|
Our large specs:
Those large specs that have been long in silver pitched 4582 contracts as they entered first day notice in silver
Those large specs that have been short in silver, added 1865 contracts to their short side.
Those commercials that have been long in silver added 2985 contracts to their long side
those commercials that have been short in silver covered a huge 5455 contracts from their short side
Our small specs;
Those small specs that have been long in silver pitched 2166 contracts from their long side
those small specs that have been short in silver covered 173 contracts from their short side.
Conclusions: the commercials go net long by 8440 contracts. Something is bothering them and it may explain the huge activity inside the comex vaults.