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
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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: 

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end badlyHarvey Organ joins the show this week for an EXPLOSIVE and MUST LISTEN Metals & Markets discussing: 

  • Massive US gold exports: NY Fed stealing sovereign nations gold- Harvey states ALL CUSTODIAL GOLD AT NY FED has now been shipped to China! 
  • GOFO Negative & silver backwardation with huge physical premiums in Shanghai- shortage looms
  • Death-blow to the dollar- Russia/China $400 B Gas deal a decade in the making is official
  • Eric Dubin explains how after years of rumors, COMEX default could come this summer!
  • Eric makes the case for a 50% upside move in silver coming in 6 months, while Harvey states that the cartel is nearly down to their last ounce of gold, & AN OVERNIGHT REVALUATION OF GOLD TO $4,000 WITH NO-BID SELLERS IS COMING IN 2014- PERHAPS AS EARLY AS JUNE!!

“The fun starts when the run on COMEX begins- $1.4 quadrillion in derivatives will burst in 2014 in a full-blown implosion! -H.O. 

The SD Metals & Markets With The Doc, Eric Dubin, & Guest Host Harvey Organ is below:

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Gold VaultHarvey Organ joins the SD Weekly Metals & Markets Wrap this week to warn of a possible February COMEX Gold Default:

  • Continued decline in “registered” gold inventory at the COMEX- 2o tons of gold “kilo bars” withdrawn from JPM vaults headed to Hong Kong!
  • 2014 will mark the year where physical forces deep “managed retreat” in the least
  • Geopolitical and Global Macro review:  From MyRA & pension fund confiscation to Ukraine & Emerging Markets
  • Fed Taper Review- Eric believes the Fed will overshoot tapering to $50 billion/month, while Harvey believes Wednesday’s taper will be the last
  • Harvey discusses why February may very well see strains to the point of the long anticipated COMEX default in gold!

The SD Weekly Metals & Markets with Harvey Organ is below:

cartel shortsFrom Harvey Organ:

In silver strangely the CME reported a gain of 1417 contracts up to 154,364.  We are now at a two year record high in silver OI with a lower price in silver ($29.86 today vs $49.00 in April 2011).
The problem this time for the bankers is that the silver OI is ramping higher while the OI in gold is being crushed.  Why? it seems that physical silver is becoming scarce and producers are hoarding the metal.  The bankers do not like what they see with silver as every raid at these low prices brings on more longs and they seem to represent strong hands.  

If the OI on Monday is again higher, our banker friends might as well throw in the towel as nothing can help themThe massive not for profit selling of non backed silver paper at lower prices is futile.  The bankers are having trouble removing their huge shorts in silver as our resolute silver holders, instead of pitching their contracts with the onset of a raid, buy more.”

empty COMEX vaultToday was first notice day for February delivery in gold, and as usual, we had a waterfall raid in gold to $1655.  The cartel MO has long been to raid gold and silver on options expiration as well as first notice day, to help prevent longs from standing for delivery.

While the the cartel raid was successful based on the paper futures price, it was an epic fail based on physical gold delivery requests, as a monumental 1.391 million ounces, or 43.26 tonnes of gold stood for delivery today on first notice day

To put this number in perspective, December delivery in gold, which is traditionally the largest delivery month of the year, saw less than 10 tonnes stand for delivery. 

Has the Buba’s gold repatriation request ignited a full-fledged run on the cartel gold bank?