GEORGE SOROS IS BACK IN THE GOLD BUSINESS – Harvey Organ

SorosGEORGE SOROS BACK INTO THE GOLD BUSINESS AS HE DOUBLES HIS STAKE IN BARRICK GOLD…

 
SPREAD BETWEEN SHANGHAI FIX AND NY PRICE: $9.00/AMOUNT STANDING FOR GOLD RISES TO OVER 5 TONNES FOR NOVEMBER/OFFSHORE YUAN CRASHES AGAIN TO OVER 6.855/SAUDI ARABIA WARNS TRUMP NOT TO BLOCK SAUDI IMPORTS OF OIL/GEORGE SOROS BACK INTO THE GOLD BUSINESS AS HE DOUBLES HIS STAKE IN BARRICK GOLD

On Sale At SD Bullion…
This Week Only…

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Gold closed at $1224.00 up $2.80

silver closed at $17.03:  up $0.15

Access market prices:

Gold: 1228.00

Silver: 17.08

 

 

THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON

.

The Shanghai fix is at 10:15 pm est and 2:15 am est

The fix for London is at 5:30  am est (first fix) and 10 am est (second fix)

Thus Shanghai’s second fix corresponds to 195 minutes before London’s first fix.

And now the fix recordings:

Shanghai morning fix Nov 15 (10:15 pm est last night): $  1235.74

NY ACCESS PRICE: $1225.20 (AT THE EXACT SAME TIME)

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Shanghai afternoon fix:  2: 15 am est (second fix/early  morning):$   1236.97

NY ACCESS PRICE: 1227.90 (AT THE EXACT SAME TIME/2:15 am)

HUGE SPREAD TODAY!!  9.00 dollars

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London Fix: Nov 15: 5:30 am est:  $1228.90   (NY: same time:  $1224.90    5:30AM)???

London Second fix Nov 15: 11 am est:  $1226.95 (NY same time: $1226.95,    10 AM)

 

It seems that Shanghai pricing is higher than the other  two , (NY and London). The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price. This should drain the comex.

Also why would mining companies hand in their gold to the comex and receive constantly lower prices.  They would be open to lawsuits if they knowingly continue to supply the comex despite the fact that they could be receiving higher prices in Shanghai.

end

 

 
 

For comex gold: 

 NOTICES FILINGS FOR NOVEMBER CONTRACT MONTH:  51 NOTICES FOR 5100 OZ  TONNES

 

For silver:

 NOTICES FOR NOVEMBER CONTRACT MONTH FOR SILVER: 112 NOTICES OR 560,000 OZ

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Let us have a look at the data for today

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In silver, the total open interest FELL by 3,142 contracts DOWN to 176,219 with yesterday’s trading.    In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. .881 BILLION TO BE EXACT or 125% of annual global silver production (ex Russia & ex China).

 

In November, in silver, 112 notice(s) filings: FOR 520,000 OZ

 

In gold, the total comex gold FELL by 15,334 contracts WITH THE FALL IN THE PRICE OF GOLD ($2.30 yesterday ).The total gold OI stands at 488,774 contracts.

In gold: we had 51 notices filed for 5100 oz

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

GLD:  

TODAY WE HAD 2 HUGE CHANGES AT THE GLD/A HUGE WITHDRAWAL OF 5.63 TONNES OF PAPER GOLD EARLY THIS MORNING AND ANOTHER 1.48 TONNES LATE THIS AFTERNOON/THE CRIMINALS ARE BORROWING THIS GOLD TO EXECUTE THEIR SHORTING OF GOLD.

Inventory rests tonight: 927.45 tonnes

.

Total gold inventory rests tonight at: 928.93 tonnes of gold

SLV

we had a small withdrawal at the SLV equal to 474,000 oz.

THE SLV Inventory rests at: 356.253million oz

.

First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver FELL by 3,142 contracts DOWN to 176,219 as the price of silver FELL by $0.48 with YESTERDAY’S trading.  The gold open interest FELL by 15,334 contracts DOWN to 488,774 as the price of gold FELL BY  $2.30 in YESTERDAY’S TRADING.

(report Harvey).

2.a) The Shanghai and London gold fix report

(Harvey)

 

2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY:  Bloomberg

 

 

3. ASIAN AFFAIRS

i)Late  MONDAY night/TUESDAY morning: Shanghai closed DOWN 3.39 POINTS OR 0.11%/ /Hang Sang closed UP 101.69  OR 0.46%. The Nikkei closed DOWN 4.47 points or 0.03%/Australia’s all ordinaires  CLOSED DOWN 0.38% /Chinese yuan (ONSHORE) closed DOWN at 6.8566/Oil ROSE to 44.63 dollars per barrel for WTI and 45.64 for Brent. Stocks in Europe: ALL MIXED      Offshore yuan trades  6.8643 yuan to the dollar vs 6.8566  for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE WIDENS CONSIDERABLY AS MORE USA DOLLARS   LEAVE CHINA’S SHORES / CHINA SENDS A CLEAR MESSAGE TO THE USA AND JANET  TO NOT RAISE RATES IN DECEMBER.

REPORT ON JAPAN  SOUTH KOREA NORTH KOREA AND CHINA

3a)THAILAND/SOUTH KOREA

none today

b) REPORT ON JAPAN

Japan’s ten yr bond yield finally climbs above zero as Trumpmania causes all global bond yields to rise/yield curve goes nowhere!

( zero hedge)

c) REPORT ON CHINA

i)This is what happens when the yuan rapidly declines:  China exports the most deflaiton in 6 years:

( import prices/zero hedge)

ii)Two major points:

  1. the offshore CNH crashes to 6.8758
  2. the spiking in yields (lowering of prices) causes cheap USA treasuries to be bid and it flattens the yield curve and thus hurts bank stocks

( zero hedge)

 

iii)the relations between China and Obama has been quite abysmal.  So it is no wonder that China is ridiculing Obama’s latest foreign tour.  You can now imagine what is going to happen with Trump as he plans a 45% tariff on Chinese goods

( zero hedge)

4 EUROPEAN AFFAIRS

i)Germany

Another setback for Merkel as her rival Steinmeier chosen for the German Presidency totally against her wishes

( Mish Shedlock/Mistalk)

 

ib)What took them so long: Germany launches the biggest crackdown on Islamists in 15 years as they raid 190 mosques.  They now are banning radical organizations.

(courtesy zero hedge)

ii)Italy

Bail-ins begin:  Junior bondholders will exchange their bonds for shares.  The scary part will be if this extends to other Italian banks which have huge non performing loans on their books

( zero hedge)

What a constitutional crisis: the pound jumps as a judge warns BREXIT could take up to 2 years.  Also the will of the people is not binding on Parliament
(courtesy zero hedge)

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

i)Russia launches a massive air strike against Syrian terrorist targetss

( zero hedge)

ii)Russia arrests its economy minister for receiving a 2 million bribe.  Amazing Russia is behaving much different to crime that the USA  (e.g. Hillary)

(courtesy zero hedge)
 

6.GLOBAL ISSUES

 

7.OIL ISSUES

More spurious headlines spike oil this morning

( zero hedge)

8.EMERGING MARKETS

none today

9.PHYSICAL STORIES

i)Avery Goodman correctly states that the removal of the high rupee notes will cause citizens to lose faith in the paper currency.  India has a history of not trusting paper assets and this will further citizen angst!

( Avery Goodman/ GATA)

ii)What a story!  India has severe problems with the fact that 86% of the paper money has been withdrawn.  Goods are just not moving because of this lack of liquidity.

This is what happens when you try and stop the purchase of gold with a gold loving citizenry

( Bloomberg/GATA)

iii)Mnuchin is set for the Treasury job

( GATA/Bloomberg)

iv)Soros must be worried;  after selling most of his stake in Barrick last year, he doubled his stake with the drop in gold price.

( Bloomberg/Javier)

v)A senior advisor to Trump:  Judy Shelton PhD:

(courtesy Robert H to me)

10.USA STORIES

i)The Bloodbath is the bond sector halts as yields tumble overnight

( zero hedge)

ii)Used car prices continue to rise, yet a record 25% of the used car trade ins are totally underwater

( zero hedge)

iii)USA retail sales are still spiking higher yet dept sales continue to collapse.

( zero hedge)

iv)The NY Empire manufacturing index rebounds positively but still employment indicators falter as well as optimism. This was taken before the election

( NY Empire/zerohedge)
 

v)Ray Dalio of Bridgewater suggests (and hopes) that the Donald has good people surrounding him and they understand how economics works and that they will not do anything stupid(courtesy zero hedge)

vi)This is fascinating:  Chicago and Boston both join California  (Los Angeles) in refusing to assist Trump in the deportation of criminal illegal aliens.  So what will Trump do: simply cancel all federal funding to sanctuary cities:

( zero hedge)

vii)Right now we ware witnessing a tightening bias with the dollar rising accompanied by rising bond yields. The offset to this is Trump’s future fiscal stimulus.  The question is what if the market is wrong?  What if the Fed mistakenly raises rates and furthers the tightening bias with no corresponding fiscal stimulus yet?

(courtesy zero hedge)

Let us head over to the comex:

The total gold comex open interest FELL by 15,334 CONTRACTS to an OI level of 488,774 with the continual pummeling in the price of gold as it EVENTUALLY FELL $2.30 with YESTERDAY’S trading. In the front month of November we had 78 notices standing for a LOSS of 107 contracts.  We had 146 notices served on yesterday so we GAINED 37 contracts or 3700 ADDITIONAL oz will stand for delivery in November. The next contract month and the biggest of the year is December and here this month showed a decrease of 21,792 contracts down to 248,703. The December contract month is still highly elevated compared to a year ago.  On Monday Nov 16/2015 comex reading day, we had a total of 191,543 contracts standing ( a loss of 2,426 contracts from Nov 10/2015) It certainly emphasizes the huge demand for physical gold. THIS SHOULD EXPLAIN TO YOU WHY THE BANKERS ARE CONSTANTLY WHACKING OF GOLD (AND SILVER): THE HIGH OI FOR DECEMBER  AND THE HIGH PROBABILITY THAT MANY WILL TAKE DELIVERY.

Today, we had 51 notice(s) filed for 5100 oz of gold.
 
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And now for the wild silver comex results.  Total silver OI FELL by 3142 contracts from 179,361 DOWN TO 176,219 as the price of silver FELL BY $0.48 with yesterday’s drive by shooting. We are moving  further from the all time record high for silver open interest set on Wednesday August 3/2016:  (224,540). The front month of November had an OI of 112 and thus a loss of 1 contract. We had 0 notices filed yesterday so we lost 1 contract or an additional 5,000 oz will not stand for delivery in this non active month of November.  The next major delivery month is December and here it FELL BY 3,767 contracts DOWN to 88,556. The December contract month is also highly elevated compared to a year ago.  On Nov 16/2015 reporting day, we had a level of 70,345 contracts having lost 3272 contracts on the day).

 

In silver had 112 notices filed for 560,000 oz

Eventually at the end of December 2015: 6.4512 tonnes of gold stood for delivery

Eventually at the end of December 2015: 18.84 million oz of silver stood for delivery.

VOLUMES: for the gold comex

Today the estimated volume was 250,230  contracts which is good.

Friday’s confirmed volume was 390,943 contracts  which is gigantic

 
 
INITIAL standings for NOVEMBER
 Nov 15.
 
Gold Ounces
Withdrawals from Dealers Inventory in oz  NIL
Withdrawals from Customer Inventory in oz  nil
 83,114.47 OZ
BRINKS
SCOTIA
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz 
 nil oz
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
51 notices 
5100 oz
 
No of oz to be served (notices)
27 contracts
 2700
oz
Total monthly oz gold served (contracts) so far this month
1591 contracts
159,100 oz
4.9486 tonnes
Total accumulative withdrawals  of gold from the Dealers inventory this month   nil oz
Total accumulative withdrawal of gold from the Customer inventory this month     229,462.0 oz
 
Today we had 1 kilobar transactions and gold continues to depart from the comex
 
Today we had 0 deposit into the dealer:
 
 
 
total dealer deposits:  nil  oz
 
We had zero dealer withdrawals:
 
 
total dealer withdrawals:  nil oz
 
.
We had 0 customer deposit;
 
 
 
 
 
 
 
total customer deposits; nil  oz
 
We had 2 customer withdrawal(s)
i) Out of Brinks:  78,484.870 oz
ii) out of Scotia; 4629.600 oz
 
 
total customer withdrawal: 83,114.47   oz
 
We had 1  adjustment(s)
 i) Out of Brinks: 4,803.900 oz leaves the customer and this lands into the dealer account of Brinks
 
 
 
 
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Total dealer inventor 2,078,538.174 or 64.65 tonnes (this level is coming down)
Total gold inventory (dealer and customer) =10,428,439.682 or 324.368 tonnes 
 
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 324.368 tonnes for a  gain of 21  tonnes over that period.  Since August 8 we have lost 30 tonnes leaving the comex. However I am including kilobar transactions and they are very suspect at best.
 
 
 
 
For November:
 
 

Today, 0 notices 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 51 contracts  of which 0 notices were stopped (received) by jPMorgan dealer and 0 notice(s) was (were) stopped/ Received) by jPMorgan customer account.

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To calculate the initial total number of gold ounces standing for the NOV. contract month, we take the total number of notices filed so far for the month (1591) x 100 oz or 159,100 oz, to which we add the difference between the open interest for the front month of NOV (78 contracts) minus the number of notices served upon today (51) x 100 oz per contract equals 161,800 oz, the number of ounces standing in this non  active month of November.
 
Thus the INITIAL standings for gold for the Nov contract month:
No of notices served so far (1591) x 100 oz  or ounces + {OI for the front month (185) minus the number of  notices served upon today (51) x 100 oz which equals 161800 oz standing in this non active delivery month of Nov  (5.032 tonnes).
we GAINED 39 contracts or an additional 3900 oz will  stand for delivery.
 
Last yr at the conclusion of November we had .6656 tonnes of gold eventually stand
 
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I have now gone over all of the final deliveries for this year and it is startling.
First of all:  in 2015 for the 12 months: 51 tonnes delivered upon for an average of 4.25 tonnes per month.
Here are the final deliveries for 2016:
Jan 2016:  .5349 tonnes  (Jan is a non delivery month)
Feb 2015:  7.9876 tonnes (Feb is a delivery month/deliveries this month very low)
March 2015: 2.311 tonnes (March is a non delivery month)
April:  12.3917 tonnes (April is a delivery month/levels on the low side
And then something happens and from May forward deliveries boom!
May; 6.889 tonnes (May is a non delivery month)
June; 48.552 tonnes ( June is a very big delivery month and in the end deliveries were huge)
July: 21.452 tonnes (July is a non delivery month and generally a poor one/not this time!)
August: 44.358 tonnes (August is a good delivery month and it came to fruition)
Sept:  8.4167 tonnes (Sept is a non delivery month)
Oct; 30.407 tonnes complete.
Nov.    5.032 tonnes.
 
total for the 11 months;  188.48 tonnes
average 17.134 tonnes per month vs last yr 51 tonnes total for 12 months or 4.25 tonnes average per month. From May 2016 until Nov 2016 we have had: 165,62 tonnes per the 7 months or 23.660 tonnes per month (which includes the non delivery months of May, June and Sept).  In essence the demand for gold is skyrocketing.
 
Something big is going on inside the gold comex.
Just take a look at Nov 2016 deliveries at 5.032 tonnes compared to last yr 0.6656 tonnes
 
 
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The gold comex is an absolute fraud.  The use of kilobars and exact weights makes the data totally absurd and fraudulent! To me, the only thing that makes sense is the fact that “kilobars: are entries of hypothecated gold sent to other jurisdictions so that they will not be short with their underwritten derivatives in that jurisdiction.  This would be similar to the rehypothecated gold used by Jon Corzine at MF Global.
 
IN THE LAST TWO MONTHS  24 NET TONNES HAS LEFT THE COMEX.
 
end
 
And now for silver
 
NOV INITIAL standings
 Nov 15. 2016
Silver Ounces
Withdrawals from Dealers Inventory NIL
Withdrawals from Customer Inventory
198,616.060 oz
brinks
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
nil  OZ
 
 
 
Deposits to the Customer Inventory 
 
 2,080,673.950  oz
Scotia
 
 
 
 
 
 
No of oz served today (contracts)
112 CONTRACT(S)
(520,000 OZ)
No of oz to be served (notices)
0 contracts
(nil  oz)
Total monthly oz silver served (contracts) 464 contracts (2,3200,000 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  5,056,990.2 oz
 
 
today, we had 0 deposit(s) into the dealer account:
 
 
 
total dealer deposit: nil oz
 
we had 0 dealer withdrawals:
 total dealer withdrawals: nil oz
 
we had 1 customer withdrawal(s):
 i) out of Brinks:  198,616.060 oz
 
 
Total customer withdrawals: 198,616.060  oz
 
 We had one customer deposit:
i)Into Brinks: 2,080,673.950 oz
 
 
 
total customer deposits; 2080,673.95  oz
 
 
 we had 0 adjustment(s)
 
 
.
 
 
 
Volumes: for silver comex
 
Today the estimated volume was 76,171 which is huge
YESTERDAY’S  confirmed volume was 146,200 contracts  which is gigantic
yesterday’s volume in oz = 731 MILLION oz or 104% of annual global production of silver.
(EX CHINA/EX RUSSIA)
 
 
The total number of notices filed today for the Nov. contract month is represented by 112 contracts for 520,000 oz. To calculate the number of silver ounces that will stand for delivery in Nov., we take the total number of notices filed for the month so far at  464 x 5,000 oz  = 2,320,000 oz to which we add the difference between the open interest for the front month of NOV (112) and the number of notices served upon today (112) x 5000 oz equals the number of ounces standing 
 
Thus the initial standings for silver for the NOV contract month:  464(notices served so far)x 5000 oz +(112) OI for front month of NOV. ) -number of notices served upon today (112)x 5000 oz  equals  2,320,000 oz  of silver standing for the NOV contract month.
we lost 1 contract or 5000 additional ounces  that will not stand for delivery in this non active month of November..
 
Last yr at the conclusion of November 2015, we had only 405,000 oz of silver stand for delivery.
 
 
Total dealer silver:  30.347 million (close to record low inventory  
Total number of dealer and customer silver:   177.169 million oz
 
 
 
The total open interest on silver is NOW close to its all time high with the record of 224,540 being set AUGUST 3.2016.  The registered silver (dealer silver) is NOW NEAR  multi year lows as silver is being drawn out at both dealer and customer levels and heading to China and other destinations. The shear movement of silver into and out of the vaults signify that something is going on in silver.
 
 
 

end

 
 
And now the Gold inventory at the GLD
NOV 15/  we had 2 monstrous withdrawal of 5.63 tonnes of gold from the GLD in the morning and another 1.48 tonnes this afternoon/Inventory rests at 927.45 tonnes
Nov 14/another monstrous withdrawal of 7.12 tonnes of gold from the GLD/Inventory rests at 934.56 tonnes
Nov 11/A  MONSTROUS WITHDRAWAL OF 13.35 TONNES OF PAPER GOLD AND THIS GOLD WAS USED IN THE COMEX WHACKING TODAY.
Nov 10/ A HUGE ADDITION OF 5.34 TONNES OF GOLD  (WITH GOLD WHACKED??)/INVENTORY RESTS AT 955.03 TONES
Nov 9/no change in gold inventory at the GLD/Inventory rests tonight at 949.69 tonnes
Nov 8/no change in gold inventory at the GLD/Inventory rests tonight at 949.69 tonnes
Nov 7/no changes in the gold inventory at the GLD/Inventory rests  tonight at 949.69 tonnes.
Nov 4/NO CHANGES IN THE GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 949.69 TONNES/
NOV 3/ a huge deposit of 4.43 tonnes of gold into the GLD/Inventory rests at 949.69 tonnes
NOV 2/ A DEPOSIT OF 2.67 TONNES OF GOLD INTO GLD/INVENTORY RESTS AT 945.26 TONNES
Nov 1/no change in gold inventory at the GLD/inventory rests at 942.59 tonnes
Oct 31/no changes at the GLD/Inventory rests at 942.59 tonnes
 
Oct 28/no changes at the GLD/Inventory remains at 942.59 tonnes
OCT 27/NO CHANGES AT THE GLD/INVENTORY REMAINS AT 942.59 TONNES
 
 
 
 
 
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Nov 15/ Inventory rests tonight at 927.45 tonnes
*IN LAST 32 DAYS: 22.74 TONNES REMOVED FROM THE GLD
 

end

 
 
Now the SLV Inventory
NOV 15/a withdrawal of 474,000 oz (.474 million oz) from the SLV inventory/inventory rests at 356.253
Nov 14/a withdrawal of 1.329 million oz from the SLV/Inventory rests at 356.727 million oz
Nov 11/a withdrawal of 1.379 million oz from the SLV/Inventory rests at 358.056 million oz
Nov 10/an addition of 949,000 oz added into the SLV/Inventory rests at 359.435 million oz
Nov 9/no change in silver inventory at the SLV/Inventory rests at 359.435 million oz/
Nov 8/no changes in silver inventory at the SLV/inventory rests at 358.435 million oz
Nov 7/no changes in silver inventory at the SLV/Inventory rests at 358.435 million oz
Nov 4/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 358.435 MILLION OZ
NOV 3/ a huge withdrawal of 2.807 million oz leaves the SLV: somebody was badly in need of silver/inventory rests at 358.435 million oz
NOV 2/ A DEPOSIT OF 569,000 OZ INTO THE SLV/INVENTORY RESTS AT 361.242
Nov 1/no change in silver inventory at the SLV/inventory rests at 360.673 million oz/
Oct 31/no change in silver inventory at the SLV/Inventory rests at 360.673 million oz/
Oct 28/NO CHANGE IN SILVER INVENTORY AT THE SLV/iNVENTORY RESTS AT 360.673 MILLION OZ
OCT 27/A MONSTROUS WITHDRAWAL OF 5.987 MILLION OZ FROM THE SLV/INVENTORY RESTS AT 360.673 MILLION OZ  (AND YET NO CHANGE IN THE SILVER PRICE???)
 
 
 
 
 
 
 
.
Nov 15.2016: Inventory 356.253 million oz
 
 end

NPV for Sprott and Central Fund of Canada

 
1. Central Fund of Canada: traded at Negative 8.1 percent to NAV usa funds and Negative 8.2% to NAV for Cdn funds!!!! 
Percentage of fund in gold 61.0%
Percentage of fund in silver:38.2%
cash .+0.7%( Nov 15/2016)
 
 
 
.
 
2. Sprott silver fund (PSLV): Premium FALLS to -0.27%!!!! NAV (Nov 15/2016) 
3. Sprott gold fund (PHYS): premium to NAV RISES TO – 0.05% to NAV  ( Nov 15/2016)
Note: Sprott silver trust back  into NEGATIVE territory at 0-.27% /Sprott physical gold trust is back into NEGATIVE territory at -0.05%/Central fund of Canada’s is still in jail.