Shanghai Gold Fix Gaps to $9 Higher Than NY/London – This Should Drain the COMEX! – Harvey Organ
Take a look at the Shanghai fix. Their early morning fix (our late at night time zone) saw the fix at $1319.72. The exact NY price at the time was 1310.94 for a difference of almost 9 dollars!
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…
GLD WITHDRAWS 13.36 TONNES FROM ITS VAULTS YET SLV ADDS 1.899 MILLION OZ: VERY STRANGE/CROOKED BANKERS SELL MASSIVE 5 BILLION DOLLARS WORTH OF NAKED GOLD SHORTS TO DRIVE THE PRICE DOWN TODAY/CHINA SURPRISES EVERYONE BY DEVALUING ITS CURRENCY AHEAD OF G/20. HANJIN, THE 7TH LARGEST SHIPPING COMPANY IN THE WORLD DECLARES BANKRUPTCY AND FREEZES GOODS AT VARIOUS PORTS/BRAZIL’S ROUSSEFF IMPEACHED/CHICAGO MANUFACTURING FED INDEX FALLS AGAIN FOR SECOND STAIGHT MONTH
Gold:1306.90 down $4.80
Silver 18.62 up 4 cents
In the access market 5:15 pm
Gold: 1309.10
Silver: 18.66
.
The Shanghai fix is at 10:15 pm est and 2:15 am est
The fix for London is at 2 am est (first fix) and 10 am est (second fix)
Thus Shanghai’s second fix corresponds within 15 minutes of London’s fix.
And now the fix recordings:
First the Shanghai fix August 31
Shanghai morning fix (10:15 pm est last night)
$1319.72 (price in NY on access at the exact same time: $1310.94)
Shanghai afternoon fix: 2: 15 am est (second fix/early this morning)
$1315.99 (New York price at the same time: $1313.30)
The two London fixes:
Aug 31 2016 am:$1314.45 (2 am est)
pm:$1309.25 (10 am est)
Take a look at the Shanghai fix. Their early morning fix (our late at night time zone) saw the fix at $1319.72. The exact NY price at the time was 1310.94 for a difference of almost 9 dollars.
The second fix has: Shanghai at 1315.99 with NY at 1313.30 an the exact same time/the London fix came in at 1314.45 with timing 15 minutes later
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
Trading in gold this morning:
the crooks dumped 5 billion gold onto the market
(courtesy zero hedge/the crime scene)
Someone Just Dumped Almost $5 Billion Notional Gold Into The Futures Market
Gold futures are near the psychologically important $1300 once again as someone decided this morning was the perfect time to dump $4.7 billion notional gold into the futures markets…
Gold is back to Brexit day levels… as thedollar gains (amid EM outflows thanks to South Africa among other things)
Testing towards its 100-day moving average support at $1304
Silver is less affected for now…
end
For the August gold contract month, we had 0 notices served upon for nil ounces. The total number of notices filed is now finalized for delivery: 14,258 for 1,425,800 oz or tonnes or 44.348 tonnes. The total amount of gold standing for August is 44.348 tonnes and that figure is final.
For the Sept. contract month we had a huge 1773 notices filed for 177300 oz or 5.514 tonnes.
In silver we had 0 notice served upon for nil oz for August. The total number of notices filed so far this month: 506 for 2,530,000 oz. The amount standing in silver: 2,530,000 oz
For the month of September we had a total of only 257 notices filed for 1,285,000 oz
Let us have a look at the data for today
.
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In silver, the total open interest FELL BY 1,295 contracts DOWN to 189,416. The open interest again fell as THE SILVER PRICE WAS down 18 CENTS IN YESTERDAY’S TRADING .In ounces, the OI is still represented by just LESS THAN 1 BILLION oz i.e. .947 BILLION TO BE EXACT or 135% of annual global silver production (ex Russia &ex China). the crooks are doing a great job fleecing unsuspecting longs
In silver we had 257 notice served upon for 1,285,000 oz
In gold, the total comex gold fell by only 645 contracts despite the fact that the price of gold FELL BY $10.90 yesterday . The total gold OI stands at 558,398 contracts
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With respect to our two criminal funds, the GLD and the SLV:
GLD
we had a huge withdrawal today at the GLD to the tune of 13.36 tonnes of gold
I would bet that this was a paper withdrawal and not real gold
Total gold inventory rest tonight at: 943.23 tonnes of gold
SLV
we had a huge deposit at the SLV to the tune of 1.899 million oz, / THE SLV Inventory rests at: 359.743million oz
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver fell by 1,295 contracts down to 189,416 as the price of silver FELL by 18 cents with YESTERDAY’S trading.The gold open interest fell 645 contracts down to 558,398 despite the fact that the price of gold fell $10.90 IN YESTERDAY’S TRADING.
(report Harvey).
2 a) Gold/silver trading overnight Europe, Goldcore
(Mark O’Byrne/zerohedge
2b) FRBNY gold report
(Harvey)
3. ASIAN AFFAIRS
i)Late TUESDAY night/WEDNESDAY morning: Shanghai closed UP 10.81 POINTS OR 0.35%/ /Hang Sang closed DOWN 39.23 points or 0.17%. The Nikkei closed UP 162.04 POINTS OR 0.97% Australia’s all ordinaires CLOSED DOWN 0.84% Chinese yuan (ONSHORE) closed DOWN at 6.6783/Oil FELL to 45.97 dollars per barrel for WTI and 48.62 for Brent. Stocks in Europe: MIXED Offshore yuan trades 6.6912 yuan to the dollar vs 6.6783 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS SLIGHLY AS MORE USA DOLLARS ATTEMPT LEAVE CHINA’S SHORES
REPORT ON JAPAN SOUTH KOREA AND CHINA
a) REPORT ON JAPAN
Despite Japan’s low unemployment, the big problem with this country is demographics as younger workers will not be able to feed an aging population. However what is very troubling in Japan is that younger folk, in the age bracket 18 to 34 cannot or refuses to find work. This is damaging their economy to no end.
( zero hedge)
b) REPORT ON CHINA
i)Normally, China strengthens its yuan when it hosts a G20 meeting. Is the following a harbinger of things to come as China weakens its yuan ahead of the big meeting
( zero hedge)
ii)In a historic event, China sells its first World Bank SDR denominated bond. This is the first such bond issuance in 35 years. The bond interest will be paid in yuan. This was basically a symbolic move. Yields in China are much higher so the response will be tepid.
( zero hedge)
4 EUROPEAN AFFAIRS
none today
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
none today
6.GLOBAL ISSUES
CANADA
Canada in its 2nd quarter 2016 slumped to a negative 1.6% growth and this happened with oil rising. The problem with Canada is that it is honest in its reporting unlike the USA
( zero hedge)
The following is a huge story! Hanjin, the 7th largest shipping company in the world has filed for bankruptcy. It ships (assets) are frozen throughout the globe. As shipping rates continue to deteriorate expect trade to flounder in the next few months as goods do not get their their destination in a timely basis
( zero hedge)
7.OIL ISSUES
i)Crude crashes after buildup in inventories for both crude and distillates
( zero hedge)
ii)Oil then tumbles below 45 dollars:
( zero hedge)
8.EMERGING MARKETS
9.PHYSICAL STORIES
i)I have been pointing out to you now each month, the withdrawals of gold from the Federal Bank of New York. This year, all of the gold is heading to Germany.
Zero hedge reports:
( zero hedge)
ii)Mike Kosares talks about gold and what he believes will happen in the fall:
( Mike Kosares/USAGold.com)
iii)This is interesting: Tom Cloud has a special inside source and claims that China will announce shortly (after their inclusion into the SDR on Oct 1). He then states that they will have more gold than supposedly the USA holds.
Buy 90% Junk Silver at the Lowest Prices Online
As Low As $1.29/oz Over Spot!
( Steve St Angelo/SRSRocco report)
10.USA STORIES WHICH MAY INFLUENCE THE PRICE OF GOLD/SILVER
i)The ADP jobs report shows a continuing weakening phenomena and this report trends lower to FOMC
( zero hedge)
ii)The following is certainly going against the grain for a rate hike as the economy is stagnant according to Fed Pres of the Chicago Fed Evans
( Reuters)
iii)The all important Chicago manufacturing PMI slumps back to 51.5 from 54.09. Is this another indicator that the USA cannot raise rates at their next FOMC meeting.
( zero hedge)
iv)Another indicator that the economy is not doing well. First time buyers are just not on the scene. Pending home sales down again.
( zero hedge)
Before heading over to the comex, I want to emphasize that due to Basel III which is to begin tomorrow,(of which the USA, Japan and Canada have agreed to implement/Europe got a temporary delay) the Fed must come to the rescue of the banks and will no longer use the money markets to balance their Euro dollar exposure. This means that the Fed must increase its balance sheet. How on earth, with common sense, can they raise interest rates with an ever increasing bloated Fed balance sheet. Each and every central bank will have the same problem and with each passing day, their balance sheet swells even higher.
Let us head over to the comex:
The total gold comex open interest FELL to an OI level of 558,398 for a LOSS of 645 contracts DESPITE THE FACT THAT the price of gold FELL by $10.90 with yesterday’s trading. We are now in the NON active month of SEPTEMBER and today is first day notice.
The contract month of Sept saw it’s OI fall by 276 contracts down to 2431. The open interest for the front September month having registered at 2431 means that 243,100 oz will stand for gold for this non active month or 7.56 tonnes which is extremely high for an off month. The next delivery month is October and here the OI rose by 260 contracts. Generally October is a very poor month for delivery notices and OI. Today the OI registered 45,199 contracts rising from yesterday’s 44,939. To give an idea of strength in OI for this October, we had last year’s October OI( at this exact time) had approximately 27,000 OI and we eventually only 2.9 tonnes of gold stood at the conclusion of the October gold month. The next contract month of December showed a big increase to 416,384 contracts.The estimated volume yesterday at the comex: 148,216(fair). Confirmed volume yesterday: 206,509, which is good.
today we had 257 notices filed for silver: 1,285,000 oz
| Gold |
Ounces
|
| Withdrawals from Dealers Inventory in oz | nil OZ |
| Withdrawals from Customer Inventory in oz nil |
nil oz
|
| Deposits to the Dealer Inventory in oz | nil |
| Deposits to the Customer Inventory, in oz |
nil
|
| No of oz served (contracts) today |
1773 notices
177,300 oz
|
| No of oz to be served (notices) |
658 contracts
(65800 oz)
|
| Total monthly oz gold served (contracts) so far this month |
1773 contracts
177300 oz
5.5147 tonnes
|
| Total accumulative withdrawals of gold from the Dealers inventory this month | NIL |
| Total accumulative withdrawal of gold from the Customer inventory this month | nil oz |
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 or hypothecated gold sent to other jurisdictions so that they will not be short in their derivatives like in England. This would be similar to the gold used by Jon Corzine. If this is the case, this would be the greatest fraud perpetrated on USA soil.
| Silver |
Ounces
|
| Withdrawals from Dealers Inventory | NIL |
| Withdrawals from Customer Inventory |
35,255.960 oz
CNT
|
| Deposits to the Dealer Inventory |
NIL OZ
|
| Deposits to the Customer Inventoryxxx |
577,968.000 oz
???
HSBC
|
| No of oz served today (contracts) |
257 CONTRACT
(1,285,000 OZ)
|
| No of oz to be served (notices) |
3155 contracts
(15,775,000 oz)
|
| Total monthly oz silver served (contracts) | 257 contracts (1,285,000 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 | 35,255.960 oz |
end
