COMEX Now Has 11.183 Tonnes Of Registered Gold (But 24.510 Tonnes Are Standing For Delivery)

Harvey Organ has an important update about COMEX registered gold inventories for this first trading week of December, 2018. Here are the details…

by Harvey Organ of Harvey Organ Blog

DEC 3/GOLD ROSE BY $13.25 TO $1233.95/SILVER UP 9 CENTS TO $1445./DOW RISES BY 288 POINTS (NASDAQ BY 111 POINTS) ON A CHINA/USA TRUCE ON TARIFFS: WE ARE TO COME TO A FINAL DEAL IN 90DAYS//THE BOND MARKET DID NOT BUY THE GAIN AS THE 10 YR BOND YIELDS SLUMPED/ALSO THE 3 AND 5 YR INVERTED FOR THE FIRST TIME/FRANCE CONTINUES TO BURN AND THAT WILL HURT THEIR GDP./ITALY BACKTRACKS AND WILL COME UP WITH A 1.9-2.0% DEFICIT TO GDP FOR THEIR BUDGET/

GOLD: $1233.95 UP $13,25 (COMEX TO COMEX CLOSINGS)

Silver:   $14.45 UP 29 CENTS (COMEX TO COMEX CLOSING)

Closing access prices:

Gold :  1230.50

 

silver: $14.38

 

 

 

 

 

 

 

For comex gold and silver:

DEC

 

 

 

 

NUMBER OF NOTICES FILED TODAY FOR  DEC CONTRACT: 1529 NOTICE(S) FOR 152,900 OZ (4.755 tonnes)

Total number of notices filed so far for DEC:  3612  for 361,200 OZ  (11.234 TONNES)

 

 

 

 

FOR DECEMBER

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1050 NOTICE(S) FILED TODAY FOR  5,250,000  OZ/

Total number of notices filed so far this month: 2513 for 12,555,000 oz

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Bitcoin: OPENING MORNING TRADE  $4144: DOWN 111

 

Bitcoin: FINAL EVENING TRADE: $4013  down $269

 

end

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China is controlling the gold market

WE WILL NOT PROVIDE LONDON FIXES AS THEY ARE NOT ACCURATE AS TO WHAT IS GOING ON AT THE SAME TIME FRAME.

Let us have a look at the data for today

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In silver, the total OPEN INTEREST FELL BY A TINY SIZED 134 CONTRACTS FROM 184,693 UP TO 184,565 DESPITE FRIDAY’S 17 CENT FALL IN SILVER PRICING AT THE COMEX. TODAY WE ARRIVED FURTHER FROM  AUGUST’S  RECORD SETTING OPEN INTEREST OF 244,196 CONTRACTS.

WE HAVE ALSO WITNESSED A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY(WELL OVER 30 MILLION OZ AT THE COMEX FOR JULY , 6 MILLION OZ FOR AUGUST AND NOW JUST LESS THAN 31 MILLION OZ STANDING IN SEPTEMBER. AS WELL WE ARE WITNESSING CONSIDERABLE LONGS PACKING THEIR BAGS AND MIGRATING OVER TO LONDON IN GREATER NUMBERS IN THE FORM OF EFP’S.  WE WERE  NOTIFIED  THAT WE HAD A STRONG SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP:

1994 EFP’S FOR DECEMBER AND 0 FOR MARCH AND ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE: OF 1944 CONTRACTS. WITH THE TRANSFER OF 1944 CONTRACTS, WHAT THE CME IS STATING IS THAT THERE IS NO SILVER (OR GOLD) TO BE DELIVERED UPON AT THE COMEX AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24-48 HRS IN THE ISSUING OF EFP’S. THE 1944 EFP CONTRACTS TRANSLATES INTO 9.97 MILLION OZ  ACCOMPANYING:

1.THE 17 CENT FALL IN SILVER PRICE AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR DELIVERY IN THE LAST SIX MONTHS:

JUNE/2018. (5.420 MILLION OZ);

FOR JULY: 30.370 MILLION OZ

FOR AUG., 6.065 MILLION OZ

FOR SEPT. 39.505 MILLION  OZ S

FOR OCT.2.525 MILLION OZ.

FOR NOV:  A HUGE 7.440 MILLION OZ STANDING FOR NOVEMBER AND

NOW 18.560 INITIALLY STAND FOR DECEMBER.

 

 

ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF DEC: 1994 CONTRACTS (FOR 1 TRADING DAYS TOTAL 1994 CONTRACTS) OR 9.97 MILLION OZ: (AVERAGE PER DAY: 1994 CONTRACTS OR 9.97 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF DEC:  9.97 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 1.42%OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)*  JUNE’S 345.43 MILLION OZ IS THE SECOND HIGHEST RECORDED ISSUANCE OF EFP’S AND IT FOLLOWED THE RECORD SET IN APRIL 2018 OF 385.75 MILLION OZ.

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:           2,686.87    MILLION OZ.

ACCUMULATION FOR JAN 2018:                                              236.879     MILLION OZ

ACCUMULATION FOR FEB 2018:                                               244.95       MILLION OZ

ACCUMULATION FOR MARCH 2018:                                        236.67       MILLION OZ

ACCUMULATION FOR APRIL 2018:                                           385.75        MILLION OZ

ACCUMULATION FOR MAY 2018:                                             210.05        MILLION OZ

ACCUMULATION FOR JUNE 2018:                                           345.43         MILLION OZ

ACCUMULATION FOR JULY 2018:                                            172.84          MILLION OZ

ACCUMULATION FOR AUGUST 2018:                                      205.23          MILLION OZ.

ACCUMULATION FOR SEPTEMBER 2018:                                 167,05          MILLION OZ

ACCUMULATION FOR OCTOBER 2018:                                     224.875        MILLION OZ

ACCUMULATION FOR NOVEMBER /2018:                                 247.18         MILLION OZ

RESULT: WE HAD A TINY SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 134 DESPITE THE 17 CENT LOSS IN SILVER PRICING AT THE COMEX //YESTERDAY AS THE BOYS CONTINUE WITH THEIR CUSTOMARY MIGRATION OVER TO  ETFS AT THE START OF AN ACTIVE DELIVERY MONTH. THE CME NOTIFIED US THAT WE HAD A VERY GOOD SIZED EFP ISSUANCE OF 1994 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. SPECULATORS CONTINUED THEIR INTEREST IN ATTACKING THE SILVER COMEX FOR PHYSICAL SILVER (SEE COMEX DATA) .

TODAY WE GAINED A GOOD SIZED: 1860 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:

i.e 1994 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH DECREASE OF 134 OI COMEX CONTRACTS. AND ALL OF THIS  DEMAND HAPPENED WITH A 17 CENT FALL INPRICE OF SILVER  AND A CLOSING PRICE OF $14.16 WITH RESPECT TO YESTERDAY’S TRADING. YET WE HAD A GIGANTIC AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY 

 

 

In ounces AT THE COMEX, the OI is still represented by JUST UNDER 1 BILLION oz i.e. .9220 BILLION OZ TO BE EXACT or 131% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT DEC MONTH/ THEY FILED AT THE COMEX: 1050 NOTICE(S) FOR 5,250000 OZ OF SILVER

IN SILVER,PRIOR TO TODAY, WE  SET THE NEW COMEX RECORD OF OPEN INTEREST AT 243,411 CONTRACTS ON APRIL 9.2018.  AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $16.51.  

AND NOW WE RECORD FOR POSTERITY ANOTHER ALL TIME RECORD OPEN INTEREST AT THE COMEX OF 244,196 CONTRACTS ON AUGUST 22/2018 AND AGAIN WHEN THIS RECORD WAS SET, THE PRICE OF SILVER WAS $14.78 AND LOWER IN PRICE THAN PREVIOUS RECORDS.

ON THE DEMAND SIDE WE HAVE THE FOLLOWING:

  1. HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY  (MARCH/2018: 27 MILLION OZ , APRIL/2018 : 2.485 MILLION OZ  MAY: 36.285 MILLION OZ ; JUNE/2018  (5.420 MILLION OZ) , JULY 2018 FINAL AMOUNT STANDING: 30.370 MILLION OZ   )  FOR AUGUST 6.065 MILLION OZ. , SEPT:  A HUGE 39.505 MILLION OZ./ OCTOBER: 2,520,000 oz  NOV AT 7.440 MILLION OZ./AND NOW DEC. AT 18.560 MILLION OZ
  2. HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018) AND NOW AUGUST 22/2018:  244,196 CONTRACTS,  WITH A SILVER PRICE OF $14.78.
  3. HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017
  4. RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 385.75 MILLIONOZ/  AND THE SECOND HIGHEST RECORDED EFP ISSUANCE JUNE 2018 345.43 MILLION OZ

AND YET, WITH THE EXTREMELY HIGH EFP ISSUANCE, WE HAVE A CONTINUAL LOW PRICE OF SILVER DESPITE THE ABOVE HUGE DEMAND.  TO ME THE ONLY ANSWER IS THAT WE HAVE SOVEREIGN  (CHINA) WHO IS ENDEAVOURING TO GOBBLE UP ALL AVAILABLE PHYSICAL SILVER NO MATTER WHERE, EXACTLY WHAT J.P.MORGAN IS DOING. AND IT IS MY BELIEF THAT J.P.MORGAN IS HOLDING ITS SILVER FOR ITS BENEFICIAL OWNER..THE USA GOVERNMENT WHO IN TURN IS HOLDING THAT SILVER FOR CHINA.(FOR A SILVER LOAN REPAYMENT).

 

IN GOLD, THE OPEN INTEREST FELL BY GOOD  SIZED 1989 CONTRACTS DOWN TO 388,910 WITH THE LOSS IN THE COMEX GOLD PRICE/(A FALL IN PRICE OF $4.00//.YESTERDAY’S TRADING) AS THESE GUYS JOINED SILVER IN THE ROUTINE MIGRATION OVER TO ETF’S AS WE APPROACH AN ACTIVE DELIVERY MONTH.

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A STRONG  SIZED 9038 CONTRACTS:

 

DECEMBER HAD AN ISSUANCE OF 9038 CONTACTS  AND ALL OTHER MONTHS ZERO.  The NEW COMEX OI for the gold complex rests at 388,910. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EFP DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL, 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. . EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER  AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.

IN ESSENCE WE HAVE A GOOD SIZED GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 7049 CONTRACTS:  1989 OI CONTRACTS DECREASED AT THE COMEX AND 9038 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN: 7049 CONTRACTS OR 704,900 OZ = 21.92 TONNES. AND ALL OF THIS DEMAND OCCURRED WITH A FALL IN THE PRICE OF GOLD/ YESTERDAY TO THE TUNE OF $4.00

 

 

 

 

FRIDAY, WE HAD 16141 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DEC : 9038 CONTRACTS OR 903800 OZ OR 28.11 TONNES (1 TRADING DAYS AND THUS AVERAGING: 9038 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 1 TRADING DAY IN  TONNES: 28.11 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES

THUS EFP TRANSFERS REPRESENTS 28.11/2550 x 100% TONNES =  1.10% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JULY ALONE.***

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:     6,792.50  TONNES   *SURPASSED ANNUAL PROD’N

ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018:           653.22  TONNES (21 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR FEBRUARY 2018:         649.45 TONNES  (20 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR MARCH 2018:             741.89 TONNES  (22 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR APRIL 2018:                 713.84 TONNES  (21 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR MAY 2018:                   693.80 TONNES ( 22 TRADING DAYS)

ACCUMULATION OF GOLD EFP FOR JUNE 2018                      650.71 TONNES  (21 TRADING DAYS)

ACCUMULATION OF GOLD EFP FOR JULY 2018                       605.5 TONNES     (21 TRADING DAYS)

ACCUMULATION OF GOLD EFP FOR AUG. 2018                      488.54  TONNES  (23 TRADING DAYS)

ACCUMULATION OF GOLD EFP FOR SEPT 2018                       470.64 TONNES   (19 TRADING DAYS)

ACCUMULATION OF GOLD EFP FOR OCT. 2018                        543.92 TONNES  (23 TRADING DAYS)

ACCUMULATION OF GOLD EFP FOR NOV 2018:                        552.88 TONNES (21 TRADING DAYS)

 

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS.  ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM.  IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE

Result: A GOOD SIZED DECREASE IN OI AT THE COMEX OF 1989 WITH THE LOSS IN PRICING ($4.00) THAT GOLD UNDERTOOK FRIDAY) //.WE ALSO HAD A HUMONGOUS SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 9038 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED.   THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX.  I GUESS IT EXPLAINS THE HUGE ISSUANCE OF EFP’S…THERE IS HARDLY ANY GOLD PRESENT AT THE GOLD COMEX FOR DELIVERY PURPOSES. IF YOU TAKE INTO ACCOUNT THE 9038 EFP CONTRACTS ISSUED, WE HAD A GOOD GAIN OF 6569 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES:

9038 CONTRACTS MOVE TO LONDON AND 1989 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 21.92 TONNES). ..AND ALL OF THIS  DEMAND OCCURRED WITH THE LOSS OF $4.00 IN FRIDAY’S TRADING AT THE COMEX

 

 

we had: 1529 notice(s) filed upon for 152,900 oz of gold at the comex.

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With respect to our two criminal funds, the GLD and the SLV:

GLD…

 

WITH GOLD UP $13.25 TODAY: /

 

NO CHANGES IN GOLD INVENTORY AT THE GLD/

 

 

 

 

 

/GLD INVENTORY   761.74 TONNES

Inventory rests tonight: 761.74 tonnes.

TO ALL INVESTORS THINKING OF BUYING GOLD THROUGH THE GLD ROUTE: YOU ARE MAKING A TERRIBLE MISTAKE AS THE CROOKS ARE USING WHATEVER GOLD COMES IN TO ATTACK BY SELLING THAT GOLD.  IT SURE SEEMS TO ME THAT THE GOLD OBLIGATIONS AT THE GLD EXCEED THEIR INVENTORY

SLV/

WITH SILVER UP 29 CENTS TODAY

 

 

 

NO CHANGES IN SILVER INVENTORY AT THE SLV

 

 

 

/INVENTORY RESTS AT 321.686 MILLION OZ.

Let us head over to the comex:

 

The total gold comex open interest FELL BY A GOOD SIZED 1989 CONTRACTS DOWN to an OI level 388,565 WITH THE LOSS IN THE PRICE OF GOLD ($4.00 IN YESTERDAY’S COMEX TRADING).FOR TWO YEARS STRAIGHT WE HAVE NOTICED THAT ONE WEEK PRIOR TO FIRST DAY NOTICE OF AN ACTIVE DELIVERY MONTH THE COMEX OPEN INTEREST CONTRACTS AND EFP’S NOTICES EXPONENTIALLY INCREASE AS WELL AS WE WITNESS THE COMEX OPEN INTEREST COLLAPSE. ONCE WE GET TO FIRST DAY NOTICE, THEN THE OPEN INTEREST RISES AND AGAIN THEY DID NOT DISAPPOINT US.

 

 

WE ARE NOW IN THE  ACTIVE DELIVERY MONTH OF DEC..  THE CME REPORTS THAT THE BANKERS ISSUED A  STRONG SIZED COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 9038 EFP CONTRACTS WERE ISSUED:

FOR DECEMBER:  9038 AND  ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:  9038 CONTRACTS.

THE OBLIGATION STILL RESTS WITH THE BANKERS ON THESE TRANSFERS. ALSO REMEMBER THAT THERE IS NO DOUBT A HUGE DELAY IN THE ISSUANCE OF EFP’S AND IT PROBABLY TAKES AT LEAST  48 HRS AFTER LONGS GIVE UP THEIR COMEX CONTRACTS FOR THEM TO RECEIVE THEIR EFP’S AS THEY ARE NEGOTIATING THIS CONTRACT WITH THE BANKS FOR A FIAT BONUS PLUS THEIR TRANSFER TO A LONDON BASED FORWARD.

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES:  7049TOTAL CONTRACTSIN THAT 9038 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST A GOOD SIZED 1989 COMEX CONTRACTS.

NET GAIN ON THE TWO EXCHANGES: 7049 contracts OR 704,900 OZ OR 21.92 TONNES.

 

We are now in the active contract month of December and we now have a total of 5798 contracts stand in December so we had a loss of 3066 contracts.  We had 2083 notices served on Friday, so we lost 983 contracts or 98,300 oz will not stand as these guys morphed into London based forwards and as well they received a fiat bonus for their efforts.

The next delivery month after December is January which saw it FALL TO 4742 FOR A LOSS OF 23 CONTRACTS.  February GAINED  358 contracts to stand at 289,349 contracts.

FOR COMPARISON TO THE 2017 CONTRACT MONTH:

 

ON FIRST DAY NOTICE DEC 1/2017: 37.035 TONNES STOOD FOR DELIVERY

EVENTUALLY BY DEC 31.2017:  28.592 TONNES STOOD AND THE REST MORPHED INTO LONDON BASED FORWARDS.

AS A REMINDER WE HAVE ONLY 4.000 TONNES OF REGISTERED GOLD READY TO SERVE UPON OUR DEC LONGS.

 

 

 

 

WE HAD 1529 NOTICES FILED AT THE COMEX FOR 152,900 OZ. (4.755 tonnes)

 

 

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And now for the wild silver comex results.

Total silver OI FELL BY 134 CONTRACTS FROM 184,693 DOWN TO 184,565 (AND FURTHER FROM NEW RECORD OI FOR SILVER SET ON AUGUST 22.2018.  (THE PREVIOUS RECORD WAS SET APRIL 9.2018/ 243,411 CONTRACTS) AND TODAY’S GIGANTIC  OI COMEX LOSS  OCCURRED WITH A 17 CENT LOSS IN PRICING???.

 

WE ARE NOW INTO THE ACTIVE DELIVERY MONTH OF DECEMBER AND, WE WERE  INFORMED THAT WE HAD A STRONG SIZED 1677 EFP CONTRACTS:

 

FOR DECEMBER: 1677 CONTRACTS, FOR MARCH 0 CONTRACTS, AND ZERO FOR ALL OTHER MONTHS.  THESE EFPS WERE ISSUED TO COMEX LONGS WHO RECEIVED A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  THE TOTAL EFP’S ISSUED: 1994.  ON A NET BASIS WE GAINED 2001 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED A  134 CONTRACT LOSS AT THE COMEX COMBINING WITH THE ADDITION OF 1994 OI CONTRACTS NAVIGATING OVER TO LONDON.

NET GAIN ON THE TWO EXCHANGES:   1860CONTRACTS…AND ALL OF THIS DEMAND OCCURRED WITH A 17 CENT LOSS IN PRICING// FRIDAY

 

 

 

 

We are now in the non active delivery month of DECEMBER and here in this front month of December we now have 2239 contracts standing for a loss of 1268 oz.  We had 1463 contracts stand for delivery on Friday so we gained 195 contracts or an additional 9755,000 oz will stand for delivery as these guys refused to morph into London based forwards as well as negating to accept a fiat bonus. We continue where we left off last month as queue jumping in silver is the norm for at least 20 months.

After  December we have the non active  January contract month and here we saw a LOSS of 5 contracts up to 1983 contracts.  February saw its initial 13 contract gain to stand at 13. March, the next big delivery month after December saw a gain of 399 contracts  up to 150,759

FOR COMPARISON TO THE COMEX 2017 CONTRACT MONTH:

 

ON FIRST DAY NOTICE DEC 1.2017 WE HAD A RATHER LARGE: 19.47 MILLION OZ STAND FOR DELIVERY

BY THE END OF DECEMBER:  33.295 MILLION OZ AS QUEUE JUMPING WAS THE NAME OF THE GAME IN SILVER.

.

 

 

 

 

 

 

We had 1050 notice(s) filed for 5,250,000 OZ for the DEC, 2018 COMEX contract for silver

Trading Volumes on the COMEX

 

PRELIMINARY COMEX VOLUME FOR TODAY: 230,390 contracts,

 

CONFIRMED COMEX VOL. FOR YESTERDAY:  180,860  contracts..

 

 

 

 

 

 

 

 

 

INITIAL standings for  DEC/GOLD

DEC 3-/2018.

we had 0 dealer entry:

 

total gold entering dealer:  0 oz

total gold withdrawing from the dealer;  0 oz

 

we had 0 kilobar transaction/
we had 1 withdrawal out of the customer account:
i) Out of HSBC:  600.628 oz
total customer withdrawals:  600.628 oz
we had 0 customer deposits
total customer deposits NIL oz
we had 1  adjustments..
i) Out of HSBC:  31,295.685 oz was removed out of the customer account and adjusted back to the dealer account
this is 0.97 tonnes.  We still have not witnessed any settlement notices which is generally when adjustments from the dealer back into the customer account occurs

FOR THE DEC 2018 CONTRACT MONTH)

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 1529 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 297 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account

 

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To calculate the INITIAL total number of gold ounces standing for the DEC/2018. contract month, we take the total number of notices filed so far for the month (3612) x 100 oz , to which we add the difference between the open interest for the front month of DEC. (5798 contract) minus the number of notices served upon today (1529 x 100 oz per contract) equals 788,100 OZ OR 24.513 TONNES) the number of ounces standing in this  active month of DECEMBER

 

Thus the INITIAL standings for gold for the DEC/2018 contract month:

No of notices served (3612 x 100 oz)  + {5798)OI for the front month minus the number of notices served upon today (1529 x 100 oz )which equals 788,100 ozstanding OR 24.513 TONNES in this  active delivery month of DECEMBER.

 

 

 

THERE ARE ONLY 11.183 TONNES OF REGISTERED COMEX GOLD AVAILABLE FOR DELIVERY AGAINST 24.510 TONNES STANDING FOR DECEMBER

THE CROOKS NOW HAVE TO RESORT TO CASH SETTLING GOLD CONTRACTS THROUGH THE EFP ROUTE AS THERE IS NO APPRECIABLE GOLD AT THE COMEX.

WE LOST 984 CONTRACTS OR 98,400 OZ THROUGH THIS ILLEGAL CASH SETTLEMENT VEHICLE.

 

total registered or dealer gold:  359,553.817 oz or   11.183 tonnes
total registered and eligible (customer) gold;   8,020.709.744 oz 249.512 tonnes

IN THE LAST 27 MONTHS 107 NET TONNES HAS LEFT THE COMEX.

end

And now for silver

AND NOW THE NOV DELIVERY MONTH

DEC INITIAL standings/SILVER

we had 0 inventory movement at the dealer side of things

 

total dealer deposits: nil oz

total dealer withdrawals: 0 oz

we had 1 deposits into the customer account

i) Into JPMorgan: nil oz

*** JPMorgan for most of 2017 and in 2018 has adding to its inventory almost every single day.

JPMorgan now has 151.7 million oz of  total silver inventory or 52.09% of all official comex silver. (152.0 million/292 million)

ii)Into Scotia:  599,942.330 oz

 

 

 

 

 

 

 

 

 

 

 

 

 

 

total customer deposits today: 599,942.330  oz

we had 4 withdrawal out of the customer account:
i) Out of CNT: 65,760.394  oz
ii) Out of Brinks:  633,632.203 oz
iiii) Out of Delaware: 4229.398 oz
iv) Out of Int. Delaware:  48,450.628 oz

 

 

 

total withdrawals: 753,072.610 oz

 

we had 0 adjustments

i

 

total dealer silver:  86.585 million

total dealer + customer silver:  295.014  million oz

The total number of notices filed today for the DEC 2018. contract month is represented by 1050 contract(s) FOR 5,250,000 oz. To calculate the number of silver ounces that will stand for delivery in DEC., we take the total number of notices filed for the month so far at 2513 x 5,000 oz = 12,555,000 oz to which we add the difference between the open interest for the front month of DEC. (2251) and the number of notices served upon today (1050 x 5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the DEC/2018 contract month: 2513(notices served so far)x 5000 oz + OI for front month of DEC( 2239) -number of notices served upon today (1050)x 5000 oz equals 18,500,000 oz of silver standing for the DEC contract month.  This is a strong number of oz standing for an off delivery month.

We gained 195 contracts or 975,000 additional oz will stand and these guys refused to accept a London based forward as well as negating to accept a fiat bonus. The EFP route is nothing but a cash settlement process and it is done in London to avoid detection.

 

 

 

 

 

 

 

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ESTIMATED VOLUME FOR TODAY: 94,516 CONTRACTS  …

 

 

 

 

CONFIRMED VOLUME FOR YESTERDAY: 85,992 CONTRACTS…

 

 

 

 

YESTERDAY’S CONFIRMED VOLUME OF 85,992 CONTRACTS EQUATES to 429 million OZ  61/4% OF ANNUAL GLOBAL PRODUCTION OF SILVER

COMMODITY LAW SUGGESTS THAT OPEN INTEREST SHOULD NOT BE MORE THAN 3% OF ANNUAL GLOBAL PRODUCTION. THE CROOKS ARE SUPPLYING MASSIVE PAPER TRYING TO KEEP SILVER IN CHECK.

The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price at that day at $18.42
The previous record was 224,540 contracts with the price at that time of $20.44

end

NPV for Sprott 

1. Sprott silver fund (PSLV): NAV FALLS TO -3.85-% (DEC 3/2018)
2. Sprott gold fund (PHYS): premium to NAV FALLS TO -1.69% to NAV (DEX 3/2018 )
Note: Sprott silver trust back into NEGATIVE territory at -3.85%-/Sprott physical gold trust is back into NEGATIVE/

(courtesy Sprott/GATA)

3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA):

NAV 12.36/TRADING 11.83/DISCOUNT 4.28

END

And now the Gold inventory at the GLD/

DEC 3/WITH GOLD UP $13.25: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 761.74 TONNES

NOV 30/WITH GOLD DOWN $4.00: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 761.74 TONNES

NOV 29/WITH GOLD UP $1.30: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 761.74 TONNES

NOV 28/WITH GOLD UP $9.45 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 761.74 TONNES

NOV 27/WITH GOLD DOWN $8.60 A WITHDRAWAL OF 1.18 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 761.74 TONNES

NOV 26/WITH GOLD DOWN 65 CENTS: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 762.92 TONNES

 

NOV 23/WITH GOLD DOWN $4.25/A HUGE DEPOSIT OF 2.06 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 762.92 TONNES

NOV 21/WITH GOLD UP $6.70 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 760.86 TONNES

NOV 20/WITH GOLD DOWN $3.95: A BIG CHANGE: A GOOD SIZED DEPOSIT OF 1.18 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 760.86 TONNES

NOV 19/WITH GOLD UP $2.05: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 759.68 TONNES

NOV 16/WITH GOLD UP $8.00: A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 1.48 TONNES/INVENTORY RESTS AT 759.68 TONNES

NOV 15/WITH GOLD UP $5.35/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 761.16 TONNES

NOV 14/WITH GOLD UP $8.15: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 761.16 TONNES

NOV 13/WITH GOLD DOWN $1.75: A HUGE DEPOSIT OF 6.77 TONNES AT THE GLD/THAT SHOULD END THE WHACKING OF GOLD FOR NOW AND A SMALL WITHDRAWAL OF 84 TONNES: INVENTORY RESTS AT 761.16 TONNES

NOV 12/WITH GOLD DOWN $4.65: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 755.23

NOV 9/WITH GOLD DOWN $16.80: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 755.23 TONNES

 

 

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DEC 3.2018/ Inventory rests tonight at 761.74 tonnes

*IN LAST 507 TRADING DAYS: 173.41 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 407 TRADING DAYS: A NET 13.41 TONNES HAVE NOW BEEN REMOVED FROM GLD INVENTORY.

 

end

 

Now the SLV Inventory/

DEC 3/WITH SILVER UP 29 CENTS: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 321.686 MILLION OZ/

NOV 30/WITH SILVER DOWN 17 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.22 MILLION OZ FROM THE SLV /INVENTORY RESTS AT 321.686 MILLION OZ/

NOV 29/WITH SILVER DOWN 2 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 322.906 MILLION OZ.

NOV 28/WITH SILVER UP 23 CENTS TODAY: A DEPOSIT OF 188,000 OZ/INVENTORY RESTS AT 322.906 MILLION OZ/

NOV 27/WITH SILVER DOWN 14 CENTS TODAY: A HUGE WITHDRAWAL OF 2.301 MILLION OZ FROM THE SLV/INVENTORY RESTS AT 322.718 MILLION OZ/

NOV 26/WITH SILVER DOWN ONE CENT: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 325.019 MILLION OZ

NOV 23/WITH SILVER DOWN 25 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 325.019 MILLION OZ.

NOV 21/WITH SILVER UP 23 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 325.019 MILLION OZ/

NOV 20/WITH SILVER DOWN 14 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 563,000 OZ INTO THE SLV/INVENTORY RESTS AT 325.019 MILLION OZ/

NOV 19/WITH SILVER UP 3 CENTS TODAY:NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 324.456 MILLION OZ/

NOV 16/WITH SILVER UP 9 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 324.456 MILLION OZ/

NOV 15/WITH SILVER UP 21 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 324.456 MILLION OZ

NOV 14/WITH SILVER UP 10 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 324.456 MILLION OZ

NOV 13/WITH SILVER DOWN 15 CENTS; A SMALL CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 328,000 OZ FROM THE SLV/INVENTORY RESTS AT 324.456 MILLION OZ/

NOV 12/WITH SILVER DOWN 10 CENTS/ A SMALL CHANGE IN SILVER INVENTORY A THE SLV: A WITHDRAWAL OF 940,000 OZ/INVENTORY RESTS AT 324.784 MILLION OZ

NOV 9/WITH SILVER DOWN 29 CENTS: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 325.724 MILLION OZ/

 

 

DEC 3/2018:

 

Inventory 321.686 MILLION OZ

LIBOR SCHEDULE AND GOFO RATES:

 

 

THE RISE IN LIBOR IS CREATING A SCARCITY OF DOLLARS BECAUSE FOREIGN EXCHANGE SWAPS (COSTS) ARE SIMPLY PROHIBITIVE

YOUR DATA…..

6 Month MM GOFO 2.40/ and libor 6 month duration 2.89

Indicative gold forward offer rate for a 6 month duration/calculation:

G0LD LENDING RATE: + .49

 

 

XXXXXXXX

12 Month MM GOFO
+ 2.69%

LIBOR FOR 12 MONTH DURATION: 3.12

GOFO = LIBOR – GOLD LENDING RATE

GOLD LENDING RATE  = +.43

end