HarveyOrgan1

Gold & silver were whacked by the cartel in the access market today as Janet Yellen and the Fed announced QE will end at the end of the month. 
Expect gold and silver to be under the weather for the remainder of the week.
Let’s head immediately to see the major data points for today:

HarveyOrgan1

Tomorrow is options expiry on the comex and on Friday we have options on the OTC contracts for both silver and gold.  Thus expect both of our precious metals to be under the fire as the crooks use non backed paper and gold paper contracts to suppress the price.
Let’s head immediately to see the major data points for today:

HarveyOrgan1

Today, we had a huge withdrawal in inventory at the GLD. of 2.1 tonnes.
On the 22nd the LBMA stated that they will no longer publish GOFO rates.

It looks to me like these rates are now fully manipulated. 

asian gold demand

China is still in a holding pattern ready to pounce when needed.
The open interest on silver is  still highly elevated.  Gold has a low OI with a low gold price.  Silver has a high OI with a low silver price.  Something has got to give!!
Let’s head immediately to see the major data points for today…

bottom of the barrel

Today’s big news came from China where weekly demand (gold withdrawals) came in at 68.4 tonnes. On a 7 day week this works out to 9.77 tonnes per day The world ex China and ex Russia (the keep all gold produced) produces 6.02 tonnes per day (2200 tonnes per year).
Hot on the heels of a huge importation of gold into India it sure looks like they are scraping the bottom of the barrel for metal.
Let’s head immediately to see what the data has in store for us today.

HarveyOrgan

 China is still in a holding pattern ready to pounce when needed.
The open interest on silver remains highly elevated.  Gold has a low OI with a low gold price.  Silver has a high OI with a low silver price.
Something has got to give!!
Let’s head immediately to see what the data has in store for us today:

HarveyOrgan

The bankers were all over gold and silver today but both metals rebuffed all attempts of containment.
The huge volatility is not too good for our banker derivative friends.
Let’s head immediately to see what the data has in store for us today:

HarveyOrgan

Let’s head immediately to see what the data has in store for us today.
First:  GOFO rates:
We are moving closer and closer to backwardation!!

silver rush
Play

Gold & silver expert Harvey Organ joins us this week for an explosive and power packed show discussing:

  •  Criminal collusion by the CFTC officials- how CFTC knew what was going on with gold & silver manipulation, and wanted to keep the price suppression game alive while China corners the market
  • More pain ahead for gold & silver?  Why Harvey believes the whacking will continue until the last ounce of gold and silver are gone
  • Shanghai silver drain accelerating- with stocks down 93% since 2013, Shanghai vaults will be BONE DRY by December!
  • Harvey predicts the bullion banks are about to ATTACK THE COMEX- does the long awaited PM default loom in 2015?

The SD Weekly Metals & Markets With special guest Harvey Organ is below: