The Bloomberg story of a few months ago is a phony.
Germany has very intention of repatriation her gold!
Submitted by Harvey Organ:
Good evening Ladies and Gentlemen:
Here are the following closes for gold and silver today:
Gold: $1179.90 down $16.20 (comex closing time)
Silver: $15.65 down 34 cents (comex closing time)
In the access market 5:15 pm
The gold comex today had a poor delivery day, registering 3 notices served for 300 oz. Silver comex registered 0 notices for nil oz.
A few months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 246.96 tonnes for a loss of 56 tonnes over that period.
In silver, the open interest fell by 996 contracts despite Friday’s silver price rose by 10 cents . The OI refuses to go down despite raids. Somebody has extremely strong hands and are very patient. The total silver OI still remains relatively high with today’s reading at 148,101 contracts. The big December silver OI contract remained constant at 101 contracts.
In gold we had a slight rise in OI with the rise in price of gold on Friday to the tune of $1.20. The total comex gold OI rests tonight at 373,910 for a gain of 1076 contracts. The December gold OI rests tonight at 584 contracts losing 156 contracts.
TRADING OF GOLD AND SILVER TODAY
you have more important things to read instead of how gold/silver traded today.
Today, we had no change in gold inventory at the GLD /Inventory 724.55 tonnes
In silver, we lost 862,000 oz of silver inventory
SLV’s inventory rests tonight at 338.135 million oz
We have a few important stories to bring to your attention today…
Let’s head immediately to see the major data points for today
First: GOFO rates:
all rates moved in both directions. The One month GOFO and two month GOFO rates moved in negative direction. The three month GOFO moved remained constant and in the positive and it is out of backwardation. The last two GOFO rates moved closer to the positive needle.
On the 22nd of September the LBMA stated that they will not publish GOFO rates. However today we still received today’s GOFO rates. These rates are still fully manipulated. London good delivery bars are still quite scarce.
Dec 22 2014
1 Month Rate: 2 Month Rate 3 Month Rate 6 month rate 1 yr rate
–.035.% – .015 % +.02 % +. 0475 .% +. 1450%
Dec 19 2014:
-.03% +.01% +.0200 % +.045% +.1350%
Let us now head over to the comex and assess trading over there today,
Here are today’s comex results:
The total gold comex open interest rose today by 1076 contracts from 372,834 all the way up to 373,910 with gold slightly up by $1.20 on Friday (at the comex close). We are now into the big December contract month where the number of OI standing for the gold metal registers 584 contracts for a loss of 156 contracts. We had 144 delivery notices served on Friday so we lost another 12 contracts or 1200 oz will not stand for the December contract month. The non active January contract month rose by 12 contracts up to 479. The next big delivery month is February and here the OI rose to 223,967 contracts for a gain of 314 contracts. The estimated volume today was poor at 48,993. The confirmed volume on Friday was also poor at 76,891 even although they had help from our high frequency traders. The comex now has no credibility and many investors have vanished from this crooked casino. Today we had 3 notices filed for 300 oz .
And now for the wild silver comex results. Silver OI fell slightly by 996 contracts from 149,096 down to 148,101 even though silver was up 10 cents on Friday. We are again losing more short covering from our bankers. The big December active contract month saw it’s OI remain constant at 101 contracts. We had 0 notices served upon on yesterday. Thus we neither gained nor lost any silver contracts standing to delivery in the December contract month. The estimated volume today was simply awful at 10,339. The confirmed volume on Friday was just as bad at 24,149. We had 0 notices filed for nil oz today. It now seems that most of the volume at the comex is done off hours.
December initial standings
|Withdrawals from Dealers Inventory in oz||nil oz|
|Withdrawals from Customer Inventory in oz||683.713 oz (Brinks),|
|Deposits to the Dealer Inventory in oz||nil|
|Deposits to the Customer Inventory, in oz||683.713 oz (HSBC|
|No of oz served (contracts) today||3 contracts(300 oz)|
|No of oz to be served (notices)||581 contracts (58,100 oz)|
|Total monthly oz gold served (contracts) so far this month||2795 contracts(279,500 oz)|
|Total accumulative withdrawals of gold from the Dealers inventory this month||153,424.154 oz|
Total accumulative withdrawal of gold from the Customer inventory this month
Today, we had 0 dealer transactions
total dealer withdrawal: nil oz
we had 0 dealer deposit:
total dealer deposit: nil oz
we had 1 customer withdrawal
i) Out of Brinks: 683.713 oz
total customer withdrawal: 683.713 oz
and this landed as a deposit:
we had 1 customer deposits:
i) Into HSBC: 683.713 oz
total customer deposits; 683.713 oz
We had 0 adjustment
Today, 0 notice was issued from JPMorgan dealer account and 3 notices were issued from their client or customer account. The total of all issuance by all participants equates to 3 contracts of which 3 notices were stopped (received) by JPMorgan dealer and 0 notices were stopped (received) by JPMorgan customer account.
To calculate the total number of gold ounces standing for the December contract month, we take the total number of notices filed for the month (2795) x 100 oz to which we add the difference between the OI for the front month of December (584) minus the # gold notices filed today (3) x 100 oz = 339,000 the amount of gold oz standing for the December contract month.
Thus the initial standings:
2793 (notices filed for the month x 100 oz) + (584) the number of OI notices for the front month of December served upon – (3) notices served today equals 337,600 oz or 10.50 tonnes.
we lost 12 contracts or 1200 oz will not stand for delivery in the December contract month.
Total dealer inventory: 770,690.631 oz or 23.971 tonnes
Total gold inventory (dealer and customer) = 7.939 million oz. (246.96) tonnes)
Several weeks ago we had total gold inventory of 303 tonnes, so during this short time period 56 tonnes have been net transferred out. We will be watching this closely!
This initiates the month of December for gold.
And now for silver
December silver: initial standings
|Withdrawals from Dealers Inventory||nil oz|
|Withdrawals from Customer Inventory||184,405.91 oz (Scotia, Delaware )|
|Deposits to the Dealer Inventory||nil|
|Deposits to the Customer Inventory||643,401.7 oz (Scotia)|
|No of oz served (contracts)||0 contracts (nil oz)|
|No of oz to be served (notices)||101 contracts (505,000 oz)|
|Total monthly oz silver served (contracts)||2933 contracts (14,665,000 oz)|
|Total accumulative withdrawal of silver from the Dealers inventory this month||1,594,966.8 oz|
|Total accumulative withdrawal of silver from the Customer inventory this month||7,5545,645.9 oz|
Today, we had 0 deposits into the dealer account:
total dealer deposit: nil oz
we had 0 dealer withdrawal:
total dealer withdrawal: nil oz
We had 2 customer withdrawals:
i) Out of Delaware: 9,940.15 oz
ii) Out of Scotia: 174,465.76 oz
total customer withdrawal 184,405.910 oz
We had 1 customer deposit:
i) Into Scotia: 643,401.7oo oz (one decimal)
total customer deposits: 643,701.7oo oz
we had 0 adjustments
Total dealer inventory: 64.594 million oz
Total of all silver inventory (dealer and customer) 175.321 million oz.
The total number of notices filed today is represented by 0 contracts for nil oz. To calculate the number of silver ounces that will stand for delivery in December, we take the total number of notices filed for the month (2933) x 5,000 oz to which we add the difference between the total OI for the front month of December (101) minus (the number of notices filed today (0) x 5,000 oz = the total number of silver oz standing so far in November.
Thus: 2933 contracts x 5000 oz + (101) OI for the November contract month – 0 (the number of notices filed today) =15,170,000 oz of silver that will stand for delivery in December.
We neither gained nor lost any silver ounces that will stand for the December silver contract.
The two ETF’s that I follow are the GLD and SLV. You must be very careful in trading these vehicles as these funds do not have any beneficial gold or silver behind them. They probably have only paper claims and when the dust settles, on a collapse, there will be countless class action lawsuits trying to recover your lost investment.
There is now evidence that the GLD and SLV are paper settling on the comex.
***I do not think that the GLD will head to zero as we still have some GLD shareholders who think that gold is the right vehicle to be in even though they do not understand the difference between paper gold and physical gold. I can visualize demand coming to the buyers side:
i) demand from paper gold shareholders
ii) demand from the bankers who then redeem for gold to send this gold onto China
vs no sellers of GLD paper.
And now the Gold inventory at the GLD:
Dec 22.2014: no change in gold inventory at the GLD/724.55 tonnes
Dec 19.2014: a huge addition of 2.99 tonnes at the GLD/724.55 tonnes
Dec 18.2014: no change in inventory at the GLD/721.56 tonnes
Dec 17.2014: no change in inventory at the GLD/721.56 tones
Dec 16.2015 we lost 1.80 tonnes in tonnage at the GLD/721.56 tonnes
Dec 15.2014: we lost 2.39 tonnes of gold inventory at the GLD/Inventory at 723.36 tonnes
dec 12.2014: we had no change in gold inventory/GLD inventory 725.75 tonnes
Dec 11.2014: we had another addition of .95 tonnes of gold inventory at the GLD/Inventory 725.75 tonnes
dec 10.2014: we gained another 2.99 tonnes of gold at the GLD. If China cannot get its gold from London, then its only source will be the FRBNY.
Inventory: 724.80 tonnes
Dec 9.2014: we gained 2.69 tonnes of gold/inventory 721.81 tonnes
Dec 8.2014: we lost .900 tonnes of gold/inventory 719.12 tonnes
Dec 5.2014: no change in tonnage/720.02 tonnes
Dec 4 no change in tonnage/720.02 tonnes
Today, December 22 / we had no change in tonnage of gold inventory / 724.55 tonnes
inventory: 724.55 tonnes.
The registered vaults at the GLD will eventually become a crime scene as real physical gold departs for eastern shores leaving behind paper obligations to the remaining shareholders. There is no doubt in my mind that GLD has nowhere near the gold that say they have and this will eventually lead to the default at the LBMA and then onto the comex in a heartbeat (same banks).
GLD : 724.55 tonnes.
And now for silver:
Dec 22.2014: today we lost 862,000 oz of silver inventory from the SLV. this left late Friday night./Inventory 338.135 million oz
Dec 19.2014; No change in silver inventory at the SLV/Inventory 338.997 million oz.
Dec 18.2014: we lost 2.012 million oz of silver from the SLV vaults/inventory 338.997 million oz
Dec 17.2014: no change in silver inventory/SLV 341.009 million oz
Dec 16.2014/ no change in silver inventory/SLV 341.009 million oz
Dec 15.2014: we lost 1.341 million oz of silver at the SLV/Inventory 341.009 million oz
Dec 12.2014 no change in silver inventory at the SLV/Inventory at 342.35 million oz
Dec 11.2014: we lost 2.873 million oz of silver inventory at the SLV/Inventory 342.35 million oz
December 10.2014; no change in inventory/345.223 million oz
Dec 9.2014: no change in inventory/345.223 million oz
Dec 8.2014: no change in inventory/345.223 million oz
Dec 5/2014: no change in inventory/345.223 million oz
Dec 4/we lost another 2.204 million oz of silver/inventory 345.223 million oz
December 22/2014/no change in silver inventory at the SLV/inventory
registers: 338.135 million oz
And now for our premiums to NAV for the funds I follow:
Note: Sprott silver fund now for the first time into the negative to NAV
Sprott and Central Fund of Canada.
(both of these funds have 100% physical metal behind them and unencumbered and I can vouch for that)
1. Central Fund of Canada: traded at Negative 11.6% percent to NAV in usa funds and Negative 11.4 % to NAV for Cdn funds!!!!!!!
Percentage of fund in gold 61.7%
Percentage of fund in silver:37.7.%
( December 22/2014)
2. Sprott silver fund (PSLV): Premium to NAV rises to – 0.26%!!!!! NAV (Dec 22/2014)
3. Sprott gold fund (PHYS): premium to NAV falls to negative -0.80% to NAV(Dec 22/2014)
Note: Sprott silver trust falls into negative territory at -.26%.
Sprott physical gold trust is back in negative territory at -0.80%
Central fund of Canada’s is still in jail.
Very important: The Bloomberg story of a few months ago is a phony.
Germany has very intention of repatriation her gold.
(courtesy Koos Jansen)
Posted on 22 Dec 2014 by Koos Jansen
MORE CONFIRMATION GERMANY CONTINUES TO REPATRIATE GOLD
In addition to a post I wrote earlier about the Bundesbank continuing to
Dear E-Mail partners: A quick info in English because I know there are many people
around the world waiting for gold repatriation news from Deutsche Bundesbank (BuBa) in 2014. I always said BuBa would continue their repatriations in Germany despite many
official and unofficial news outlets claiming the opposite.
We still have no quantitative news – but this came in 8am CET today (45 mins ago).
See here for original German language interview text of BuBa´s “gold exec” Mr Thiele.
*) My translation of the text below. Followed by my short comment.
“Bundesbank has delivered gold to Germany according to plan Also in 2014, Deutsche Bundesbank has brought gold from foreign storage sites to Frankfurt. ‘We are within our plan with our delivery of gold from the Fed and the Banque de France.’. BuBa-executive Carl-Ludwig Thiele told the German Press
Agency dpa in Frankfurt.”
- This is really all there is, all we have right now. I would personally call it “non-news” as usual in that Mr Thiele does not give out ANY new info which we did not have before. With the possible exception that Bundesbank now officially says what I said all along throughout the year: The gold repatriation is continuing – albeit not transparent and probably way too slow but with a rate larger than 0 tonnes in 2014…
- We still do not know exact numbers.Thiele does not seem to have given out tonnages for 2014 (in the press release we only have 2013 numbers which had been known since Dec 2013).
- Every number below 70-100 tonnes would be shamefully little – and therefore this is exactly the range I am expecting in the final announcement with numbers (due early 2015).
So it is business as usual with Bundesbank. Too slow, too little, not transparent: this
holds true both for its information policy on gold and for its repatriation efforts! The fight for repatriation and for receiving more info from BuBa will have to continue. And since BuBa is stalling and our institutions are not helping – we the owners of the gold will have to do the work on our own. To be continued (in 2015)… Happy Christmas to everybody!
*) 22.12.2014 08:00 Bundesbank bei Gold-Verlagerung im Plan Die Deutsche Bundesbank hat auch 2014 tonnenweise Gold aus ausländischen Lagerstätten nach Frankfurt gebracht. “Mit der Goldverlagerung von der Fed in New York und der Banque de France in Paris liegt die Bundesbank voll im Zeitplan”, sagte Bundesbank-Vorstand CarlLudwig Thiele der Deutschen Presse-Agentur in Frankfurt. Die Notenbank will bis 2020 mehr als die Hälfte ihrer zuletzt 3387 Tonnen in heimischen Tresoren lagern. Dafür sollen 674 Tonnen des Edelmetalls aus Paris und New York nach Frankfurt gebracht werden. Zum Start der Aktion holte die Bundesbank 2013 fünf Tonnen aus New York und 32 Tonnen aus Paris.