Harvey Organ: COMEX May Be Settling Physical Delivery Via London With A FIAT BONUS

Harvey Organ thinks that the COMEX is transferring their contracts to London for settlement. Here’s the details…

by Harvey Organ of Harvey Organ Blog

NOV 13/GOLD UP $4.85 AND SILVER RISES 16 CENTS/CHAOS IN ENGLAND AS THERESA MAY COULD BE OUSTED AS LEADER/TENSIONS AGAIN ESCALATE THROUGHOUT THE MIDDLE EAST/GE CRASHES TODAY/

GOLD: $1278.85 UP $4.85

Silver: $17.05 UP 16 cents

Closing access prices:

Gold $1278.50

silver: $17.05

SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)

SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)

SHANGHAI FIRST GOLD FIX: $1288.37 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1276.60

PREMIUM FIRST FIX: $11.77

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SECOND SHANGHAI GOLD FIX: $1288.37

NY GOLD PRICE AT THE EXACT SAME TIME: $1276.60

Premium of Shanghai 2nd fix/NY:$11.77

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LONDON FIRST GOLD FIX: 5:30 am est $1278.40

NY PRICING AT THE EXACT SAME TIME: $1278.10

LONDON SECOND GOLD FIX 10 AM: $1277.95

NY PRICING AT THE EXACT SAME TIME. 1277.30

For comex gold:

NOVEMBER/

NOTICES FILINGS TODAY FOR OCT CONTRACT MONTH: 2 NOTICE(S) FOR 20000 OZ.

TOTAL NOTICES SO FAR: 991 FOR 99,100 OZ (3.082TONNES)

For silver:

NOVEMBER

1 NOTICE(S) FILED TODAY FOR

5,000 OZ/

Total number of notices filed so far this month: 872 for 4,360,000 oz

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Bitcoin: BID $6729 OFFER /$6764 DOWN $308.00 (MORNING)

BITCOIN CLOSING; BID $6498 OFFER: $6523 // UP $78.00

end

Let us have a look at the data for today

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In silver, the total open interest FELL BY A SMALL 1393 contracts from 200,595 DOWN TO 199,358 WITH RESPECT TO FRIDAY’S TRADING IN WHICH SILVER FELL 11 CENTS. JUDGING FROM THE MASSIVE VOLUME, IT DOES NOT LOOK LIKE WE GOT SOME LONG LIQUIDATION BUT AGAIN IT LOOKS LIKE WE GOT A FEW MORE COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE. IN SILVER THE TOTALS FOR DECEMBER EFP’S ARE 721 CONTRACTS. WE ALSO HAVE 69 MARCH EFP’S FOR A TOTAL ISSUANCE OF 790 CONTRACTS WHICH IS IN LINE WITH WHAT I HAVE THOUGHT HAS HAPPENED.

RESULT: A SMALL SIZED DROP IN OI COMEX WITH THE 11 CENT PRICE FALL. COMEX LONGS EXITED OUT OF THE COMEX AND FROM THE CME DATA IT SEEMS THAT A HUGE NUMBER OF EFP’S WERE ISSUED FOR A DELIVERABLE CONTRACT OVER IN LONDON WITH A FIAT BONUS WHICH DEFINITELY EXPLAINS THE FALL IN OI.

In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 0.997 BILLION TO BE EXACT or 142% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT OCT MONTH/ THEY FILED: 1 NOTICE(S) FOR 5,000 OZ OF SILVER

In gold, the open interest FELL BY A SMALLER THAN EXPECTED 3,786 CONTRACTS DESPITE THE GOOD SIZED FALL IN PRICE OF GOLD ($13.00) WITH FRIDAY’S TRADING . THE RAID ORCHESTRATED BY OUR BANKERS SHOULD HAVE HAD A GREATER LOSS AS THE OBJECT OF THE EXERCISE IS TO CAUSE AS MANY GOLD LEAVES FROM THE GOLD TREE AS POSSIBLE. SOME GOLD OI EXITED THROUGH THE EFP ROUTE AND SOME EXITED ALTOGETHER FORM THE COMEX ARENA. THE TOTAL NUMBER OF GOLD EFP’S ISSUED SO FAR THIS MONTH TOTAL 10,591 CONTRACTS WHICH IS HUGE. The new OI for the gold complex rests at 530,404.

Result: A SMALLER SIZED DECREASE IN OI DESPITE THE GOOD SIZED WHACK IN PRICE IN GOLD ON FRIDAY ($13.00). WE PROBABLY HAD SOME COMEX LONG TRANSFERS TO LONDON THROUGH THE EFP ROUTE AS THERE DOES NOT SEEM TO BE MUCH PHYSICAL AT THE COMEX AND WE ARE APPROACHING THE HUGE DELIVERY MONTH OF DECEMBER. WE ALSO HAVE SOME GOLD COMEX OI LEAVE THE ARENA WITHOUT AN EFP TRANSFER.

we had: 2 notice(s) filed upon for 200 oz of gold.

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

GLD:

No changes in gold inventory at the GLD/

Inventory rests tonight: 843.09 tonnes.

SLV

TODAY WE HAD NO CHANGE IN SILVER INVENTORY AT THE SLV

INVENTORY RESTS AT 318.074 MILLION OZ

Let us head over to the comex:

The total gold comex open interest SURPRISINGLY FELL BY ONLY 3,786 CONTRACTS DOWN to an OI level of 530,404 DESPITE THE HUGE FALL IN THE PRICE OF GOLD ($13.00 FALL WITH RESPECT TO FRIDAY’S RAID). OBVIOUSLY WE DID NOT HAVE THE LIQUIDATION OF LONGS AS EXPECTED. I BELIEVE THAT SOME OF THE LONGS THAT LEFT THE COMEX TRANSFERRED OUT OF THE COMEX TO A DELIVERABLE FORWARD AT LONDON THROUGH THE EFP ROUTE.(RECEIVED A DECEMBER EFP) ALONG WITH A SMALL GOLD LIQUIDATION.

Result: a SURPRISE SMALL DECREASE IN OPEN INTEREST DESPITE THE CONSIDERABLE FALL IN THE PRICE OF GOLD ($13.00.)

.

We have now entered the NON active contract month of NOVEMBER.HERE WE HAD A LOSS OF 8 CONTRACT(S) UP TO 84. We had 2 notices filed YESTERDAY so GAINED 6 contracts or 600 additional oz will stand for delivery in this non active month of November. TO SEE BOTH GOLD AND SILVER RISE IN AMOUNT STANDING (QUEUE JUMPING) IS A GOOD INDICATOR OF PHYSICAL SHORTNESS FOR BOTH OF OUR PRECIOUS METALS.

The very big active December contract month saw it’s OI LOSE 20,017 contracts DOWN to 301,919. January saw its open interest rise by 68 contracts up to 804. FEBRUARY saw a gain of 15,267 contacts up to 157,104.

.

We had 2 notice(s) filed upon today for 200 oz

VOLUME FOR TODAY : 228,818 (PRELIMINARY)

CONFIRMED VOLUME YESTERDAY: 402,844

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And now for the wild silver comex results. Total silver OI FELL BY 1290 CONTRACTS FROM 200,595 DOWN TO 199,358 WITH FRIDAY’S 11 CENT LOSS IN PRICE (HUGE RAID). WE PROBABLY HAD SOME PRIVATE EFP’S ISSUED FOR DECEMBER BY OUR BANKERS TO COMEX LONGS WHO RECEIVED A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. THIS IS QUITE EARLY FOR THE ISSUANCE. USUALLY WE WITNESS THIS EVENT ONE WEEK PRIOR TO FIRST DAY NOTICE AND IT CONTINUES RIGHT UP TO FDN. I THINK THAT WE HAD SOME LONG LIQUIDATION ALONG WITH A SMALL TRANSFER OF LONGS OVER TO A LONDON FORWARD (THROUGH THE EFP ROUTE AS THEY RECEIVE A BONUS FOR THAT TRANSFER). THE TOTAL SO FAR THIS MONTH FOR EFP’S ISSUED TOTAL 790 CONTACTS (OR 39.5 MILLION OZ)
The new front month of November saw its OI FALL by 1 contract(s) and thus it stands at 3. We had 2 notice(s) served YESTERDAY so we gained 1 contracts or an additional 5,000 oz will stand in this non active month of November. After November we have the big active delivery month of December and here the OI FALL by 6446 contracts DOWN to 114,696. January saw A LOSS OF 22 contracts RISING TO 1031.
We had 1 notice(s) filed for 5,000 oz for the OCT. 2017 contract

INITIAL standings for NOVEMBER
Nov 13/2017.

Gold Ounces
Withdrawals from Dealers Inventory in oz nil oz
Withdrawals from Customer Inventory in oz
23,598.1
oz
Scotia
734 kilobars
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
nil oz
No of oz served (contracts) today

2 notice(s)
200 OZ
No of oz to be served (notices)
69 contracts
(6900 oz)
Total monthly oz gold served (contracts) so far this month
991 notices
99,100 oz
3.082 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 xxx oz

Today we HAD 1 kilobar transaction(s)/
WE HAD nil DEALER DEPOSIT:
total dealer deposits: nil oz
We had nil dealer withdrawals:
total dealer withdrawals: nil oz
we had 0 customer deposit(s):
total customer deposits nil oz
We had 1 customer withdrawal(s)
i) out of Scotia: 23,598.100 OZ
total customer withdrawals; 23,598.100 oz
734 KILOBARS
we had 0 adjustment(s)
For NOVEMBER:
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 2 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 1 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 NOVEMBER. contract month, we take the total number of notices filed so far for the month (991) x 100 oz or 99100 oz, to which we add the difference between the open interest for the front month of NOV. (71 contracts) minus the number of notices served upon today (2 x 100 oz per contract equals 106,100 oz, the number of ounces standing in this NON active month of NOV

Thus the INITIAL standings for gold for the NOVEMBER contract month:
No of notices served (991) x 100 oz or ounces + {(71)OI for the front month minus the number of notices served upon today (2) x 100 oz which equals 106,100 oz standing in this active delivery month of NOVEMBER (3.300 tonnes)
WE GAINED 6 ADDITIONAL CONTRACTS OR 600 OZ OF ADDITIONAL GOLD STANDING FOR METAL AT THE COMEX
THIS IS THE FIRST TIME EVER THAT WE HAVE WITNESSED CONSIDERABLE QUEUE JUMPING IN GOLD AT THE COMEX. SILVER’S QUEUE JUMPING STARTED IN MAY 2017 AND HAS NOT LET UP ONCE COMMENCED.
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Total dealer inventory 527,069.052 or 16.394 tonnes (dealer gold continues to disappear)
Total gold inventory (dealer and customer) = 8,697,603.007 or 270.53 tonnes

I have a sneaky feeling that these withdrawals of gold in kilobars are being used in the hypothecating process and are being used in the raiding of gold!
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 14 MONTHS 84 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE NOVEMBER DELIVERY MONTH
NOVEMBER INITIAL standings
Nov 13/ 2017

Silver Ounces
Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
100,521.890 oz
SCOTIA
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
301,351.296
oz
No of oz served today (contracts)
2 CONTRACT(S)
(10,000,OZ)
No of oz to be served (notices)
1 contract
(5,000 oz)
Total monthly oz silver served (contracts) 871 contracts
(4,355,000 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 xx oz

today, we had 0 deposit(s) into the dealer account:
total dealer deposit: nil oz
we had nil dealer withdrawals:
total dealer withdrawals: nil oz
we had 1 customer withdrawal(s):
i) Out of SCOTIA: 100,521,890 oz
TOTAL CUSTOMER WITHDRAWAL 100,521.890 oz
We had 1 Customer deposit(s):
i) Into Delaware: 301,351.296 oz
***deposits into JPMorgan have stopped again
In the month of March and February, JPMorgan stopped (received) almost all of the comex silver contracts.
why is JPMorgan bringing in so much silver??? why is this not criminal in that they are also the massive short in silver
total customer deposits: 301,351.296 oz

we had 0 adjustment(s)
The total number of notices filed today for the NOVEMBER. contract month is represented by 2 contracts FOR 10,000 oz. To calculate the number of silver ounces that will stand for delivery in NOVEMBER., we take the total number of notices filed for the month so far at 872 x 5,000 oz = 4,360,0000 oz to which we add the difference between the open interest for the front month of NOV. (3) and the number of notices served upon today (2 x 5000 oz) equals the number of ounces standing.
.

Thus the INITIAL standings for silver for the NOVEMBER contract month: 872 (notices served so far)x 5000 oz + OI for front month of NOVEMBER(3) -number of notices served upon today (2)x 5000 oz equals 4,370,000 oz of silver standing for the NOVEMBER contract month. This is EXCELLENT for this NON active delivery month of November.
We gained 1 contracts or an additional 5,000 oz will stand for metal in the non active delivery month of November.
AS I MENTIONED ABOVE, WE HAVE BEEN WITNESSING QUEUE JUMPING IN SILVER FROM MAY 1 2017 ONWARD. IT IS NOW COMFORTING TO SEE CONSIDERABLE QUEUE JUMPING OCCURRING CONTINUALLY IN GOLD FOR THE FIRST TIME SINCE RECORDED TIME AT THE GOLD COMEX!!(1974). QUEUE JUMPING CAN ONLY OCCUR ON PHYSICAL METAL SHORTAGE.

ESTIMATED VOLUME FOR TODAY: 33,605
CONFIRMED VOLUME FOR YESTERDAY: 114,201 CONTRACTS
YESTERDAY’S CONFIRMED VOLUME OF 114,201 CONTRACTS EQUATES TO 571 MILLION OZ OR 81.5% OF ANNUAL GLOBAL PRODUCTION OF SILVER

Total dealer silver: 43.218 million
Total number of dealer and customer silver: 229.956 million oz
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