Harvey Organ: Goldman Sachs & JP Morgan Are Gobbling Up All Available COMEX Gold

Nearly 80% of yesterday’s gold contracts went to either Goldman Sachs or JP Morgan as Harvey explains in this important update…

by Harvey Organ of Harvey Organ Blog

DEC 10 A/PLUNGE PROTECTION TEAM DOES THEIR THING AND RESCUES THE DOW/NASDAQ TODAY/GOLD DOWN $3.05 TO $1246.80/SILVER IS DOWN 8 CENTS TO $14.52/GOLDMAN SACHS AND JPMORGAN (CUSTOMER ACCT) CONTINUE TO TAKE AS MUCH GOLD AS THEY CAN FROM THE COMEX AS THEY WERE THE DOMINANT STOPPERS TODAY/JAPAN CONTRACTS BIG TIME IN GDP IN LAST MONTH’S REPORTING/CHINA THREATENS NOT ONLY CANADA BUT THE USA IN THE MENG ARREST/READ STEPHEN LEEB AS HE HAS THE ENTIRE MENG (HAUWEI) CASE FIGURED OUT/USA GIVES THE CHINESE A HARD DATE OF MARCH 1 TO COME UP WITH A TRADE DEAL: IT WILL NOT HAPPEN/THERESA MAY CANCELS VOTE ON BREXIT AND THIS CAUSES THE POUND TO COLLAPSE/TURMOIL REIGNS SUPREME IN FRANCE OVER THE WEEKEND AS THE RIOTS ARE BASICALLY OUT OF CONTROL/GOOD COMMENTARY TONIGHT ON THE ISLAMIZATION OF HOLLAND/PLETHORA OF SWAMP STORIES FOR YOU TONIGHT/

GOLD: $1246.80 DOWN $3.05 (COMEX TO COMEX CLOSINGS)

Silver:   $14.52 DOWN 8 CENTS (COMEX TO COMEX CLOSING)

Closing access prices:

Gold :  1244.50

 

silver: $14.53

 

 

 

 

 

 

 

For comex gold and silver:

DEC

 

 

 

 

NUMBER OF NOTICES FILED TODAY FOR  DEC CONTRACT: 98 NOTICE(S) FOR 9800 OZ (0.3048 tonnes)

Total number of notices filed so far for DEC:  6080  for 608000 OZ  (18.911 TONNES)

Both Goldman Sachs house account and a client of JPMorgan continue to gobble up all the gold available at the gold comex: 78/98 contracts went there way!!

 

EXCHANGE: COMEX
CONTRACT: DECEMBER 2018 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,246.800000000 USD
INTENT DATE: 12/07/2018 DELIVERY DATE: 12/11/2018
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
072 H GOLDMAN 57
323 C HSBC 7
657 C MORGAN STANLEY 1
661 C JP MORGAN 21
686 C INTL FCSTONE 1
690 C ABN AMRO 33
737 C ADVANTAGE 51 10
800 C RCG 8 1
905 C ADM 5 1
____________________________________________________________________________________________

TOTAL: 98 98
MONTH TO DATE: 6,080

 

SILVER

 

FOR DECEMBER

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91 NOTICE(S) FILED TODAY FOR  455,000  OZ/

Total number of notices filed so far this month: 3419 for 17,095,000 oz

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Bitcoin: OPENING MORNING TRADE  $3622: DOWN 56

 

Bitcoin: FINAL EVENING TRADE: $3463  DOWN 136

 

end

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Let us have a look at the data for today

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In silver, the total OPEN INTEREST ROSE BY A GOOD SIZED 1185 CONTRACTS FROM 178,358 UP TO 179,473 WITH FRIDAY’S STRONG 16 CENT RISE 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 AS WE NOW HAVE JUST LESS THAN 20 MILLION OZ STANDING IN DECEMBER. 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 HUGE SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP:

2491 EFP’S FOR DECEMBER AND 0 FOR MARCH AND ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE: OF 2491 CONTRACTS. WITH THE TRANSFER OF 526 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 2491 EFP CONTRACTS TRANSLATES INTO 12.46 MILLION OZ  ACCOMPANYING:

1.THE 16 CENT RISE 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 19.465 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: 9244 CONTRACTS (FOR 6 TRADING DAYS TOTAL 9244 CONTRACTS) OR 46.22 MILLION OZ: (AVERAGE PER DAY: 1541 CONTRACTS OR 7.70 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF DEC:  46.22 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 6.60% 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:           2,723.25    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 GOOD SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 1115 WITH THE 16 CENT RISE IN SILVER PRICING AT THE COMEX //FRIDAY.. 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 HUGE SIZED EFP ISSUANCE OF 2491 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 STRONG SIZED: 3606 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:

i.e 2491 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH INCREASE OF 1115 OI COMEX CONTRACTS. AND ALL OF THIS  DEMAND HAPPENED WITH A 16 CENT RISE INPRICE OF SILVER  AND A CLOSING PRICE OF $14.60 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. .898 BILLION OZ TO BE EXACT or 128% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT DEC MONTH/ THEY FILED AT THE COMEX: 91 NOTICE(S) FOR 455,000 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 19.465 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 ROSE BY A VERY STRONG SIZED 10,867 CONTRACTS UP TO 407,685 WITH THE GAIN IN THE COMEX GOLD PRICE/(A RISE IN PRICE OF $8.35//.FRIDAY’S TRADING)

 

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A STRONG  SIZED 7908 CONTRACTS:

 

DECEMBER HAD AN ISSUANCE OF 7908 CONTACTS  AND ALL OTHER MONTHS ZERO.  The NEW COMEX OI for the gold complex rests at 407,685. 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 AN ATMOSPHERIC SIZED GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 18,775 CONTRACTS:  10,867 OI CONTRACTS INCREASED AT THE COMEX AND 7908 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN: 18,775 CONTRACTS OR 1,877,500 OZ = 59.39 TONNES. AND ALL OF THIS DEMAND OCCURRED WITH A GOOD RISE IN THE PRICE OF GOLD/ YESTERDAY TO THE TUNE OF $8.35

 

 

 

 

YESTERDAY, WE HAD 7979 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DEC : 47210 CONTRACTS OR 4,721,000 OZ OR 146.84 TONNES (6 TRADING DAYS AND THUS AVERAGING: 7868 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 6 TRADING DAYS IN  TONNES: 146.84 TONNES

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

THUS EFP TRANSFERS REPRESENTS 146.84/2550 x 100% TONNES =  5.75% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JULY ALONE.***

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:     6,911.22  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 STRONG SIZED INCREASE IN OI AT THE COMEX OF 10,867 WITH THE GAIN  IN PRICING ($8.35) THAT GOLD UNDERTOOK YESTERDAY) //.WE ALSO HAD A STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 7908 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 7908 EFP CONTRACTS ISSUED, WE HAD AN ATMOSPHERIC GAIN OF 18,775 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES:

7908 CONTRACTS MOVE TO LONDON AND 10,867 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 58 TONNES). ..AND ALL OF THIS  DEMAND OCCURRED WITH THE RISE OF $8.35 IN FRIDAY’S TRADING AT THE COMEX

 

 

we had: 98 notice(s) filed upon for 9800 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 DOWN $3.05 TODAY

 

NO CHANGES IN GOLD INVENTORY:

 

 

 

 

 

 

/GLD INVENTORY   759.73 TONNES

Inventory rests tonight: 759.73 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 DOWN 8 CENTS  TODAY:

 

NO CHANGE IN SILVER INVENTORY AT THE SLV

 

 

 

/INVENTORY RESTS AT 318.735 MILLION OZ.

Let us head over to the comex:

 

The total gold comex open interest ROSE BY A HUGE SIZED 10,867 CONTRACTS UP to an OI level 407,685 WITH THE GAIN IN THE PRICE OF GOLD ($8.35 IN FRIDAY’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 CONSIDERABLE SIZED COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 7908 EFP CONTRACTS WERE ISSUED:

FOR DECEMBER:  7908 AND  ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:  7908 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:  18,775 TOTAL CONTRACTS IN THAT 7908 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A VERY STRONG SIZED 10,867 COMEX CONTRACTS.

NET GAIN ON THE TWO EXCHANGES: 18,775 contracts OR 1,877,500 OZ OR 58.39 TONNES.

 

We are now in the active contract month of December and we now have a total of 1696 contracts stand in December so we had a loss of 672 contracts.  We had 707 notices served yesterday, so we gained another 35 contracts or 3500 oz will stand as these guys refused to morph into London based forwards and as well they refuse to receive a fiat bonus.  QUEUE JUMPING HAS RETURNED TO THE GOLD COMEX AND WE NOW KNOW WHY: GOLDMAN SACHS AND JPMORGAN ARE TAKING WHATEVER PHYSICAL GOLD THAT THEY CAN FIND.

The next delivery month after December is January which saw it ROSE TO 3359 FOR A GAIN OF 20 CONTRACTS.  February GAINED A WHOPPING 8648 contracts to stand at 308,541 contracts AS THE PAPER SHORTS TRIED TO CONTAIN GOLD’S RISE.

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 98 NOTICES FILED AT THE COMEX FOR 9800 OZ. (0.3048 tonnes)

 

 

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And now for the wild silver comex results.

Total silver OI ROSE BY 1115 CONTRACTS FROM 178,358 UP TO 179,473 (AND CLOSER TO NEW RECORD OI FOR SILVER SET ON AUGUST 22.2018.  (THE PREVIOUS RECORD WAS SET APRIL 9.2018/ 243,411 CONTRACTS) AND TODAY’S OI COMEX GAIN  OCCURRED WITH A 16 CENT GAIN IN PRICING.

 

WE ARE NOW INTO THE ACTIVE DELIVERY MONTH OF DECEMBER AND, WE WERE  INFORMED THAT WE HAD A GOOD SIZED 2491 EFP CONTRACTS:

 

FOR DECEMBER: 2491 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: 2491.  ON A NET BASIS WE GAINED 3606 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED A  1115 CONTRACT GAIN AT THE COMEX COMBINING WITH THE ADDITION OF 2491 OI CONTRACTS NAVIGATING OVER TO LONDON.

NET GAIN ON THE TWO EXCHANGES:   3606 CONTRACTS…AND ALL OF THIS STRONG DEMAND OCCURRED WITH A 16 CENT GAIN 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 565 contracts standing for a loss of 65 contracts.  We had 128 contracts stand for delivery yesterday so we gained 63 contracts or an additional 315,000 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 has been the norm for at least the past 20 months.

After  December we have the non active  January contract month and here we saw a loss of 28 contracts up to 1925 contracts.  February saw its another 18 contract gain to stand at 69. March, the next big delivery month after December saw a WHOPPING GAIN of 2016 contracts UP to 147,858

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 91 notice(s) filed for 455,000 OZ for the DEC, 2018 COMEX contract for silver

Trading Volumes on the COMEX

 

PRELIMINARY COMEX VOLUME FOR TODAY: 195,353 contracts,

 

CONFIRMED COMEX VOL. FOR YESTERDAY:  242,258  contracts

 

 

 

 

 

 

 

 

 

INITIAL standings for  DEC/GOLD

DEC 10-/2018.

we had 0 dealer entries:

 

 

total dealer deposits: nil  oz

total dealer withdrawals: 0 oz

We had 2 kilobar entries

 

we had 1 deposits into the customer account

i) Into HSBC:  48,226.500 oz  (1500 kilobars)

total gold customer deposits;  48,226.500 oz

 

we had 1 gold withdrawals from the customer account:

i) Out of Scotia:  160.75 oz  (5 kilobars)

total gold withdrawing from the customer;  160.75 oz

 

we had 0  adjustment..

we still have not had any adjustments out of the dealer to the customer account to signify a settlement

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 98 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 21 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account and 57 notices by the squid  (Goldman Sachs)

 

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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 (6080) x 100 oz , to which we add the difference between the open interest for the front month of DEC. (1696 contract) minus the number of notices served upon today (98 x 100 oz per contract) equals 767,800 OZ OR 23.88 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 (6080 x 100 oz)  + {1696)OI for the front month minus the number of notices served upon today (98 x 100 oz )which equals 767,800 oz standing OR 23.88 TONNES in this  active delivery month of DECEMBER.

WE GAINED 35 CONTRACTS OR 3500 OZ WILL STAND AT THE COMEX AS THEY REFUSED TO MORPH INTO ACCEPT A LONDON BASED FORWARDS AS WELL AS NEGATE A FIAT BONUS. QUEUE JUMPING RETURNS TO THE GOLD COMEX AS JPMORGAN AND GOLDMAN SACHS SCOUR THE PLANET FOR BADLY NEEDED PHYSICAL GOLD.

 

 

 

 

THERE ARE ONLY 19.696 TONNES OF REGISTERED COMEX GOLD AVAILABLE FOR DELIVERY AGAINST 23.88 TONNES STANDING FOR DECEMBER

 

total registered or dealer gold:  633,236.234 oz or   19.696 tonnes*
total registered and eligible (customer) gold;   8,294,112.366 oz 257.98 tonnes
*however we have 18.911 tonnes of gold ALREADY SERVED UPON against dealer inventory of 19.696 tonnes and so far we have had no settlements  as of yet.  We generally get a settlement when we see an adjustment from the dealer side to the customer side..
we have a total of 23.88 tonnes of gold standing for metal against only 19.696 tonnes of dealer gold and nothing has been settled so far…

IN THE LAST 27 MONTHS 96 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: 18,879.500 oz

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

JPMorgan now has 150.55 million oz of  total silver inventory or 51.03% of all official comex silver. (152.0 million/292 million)

 

ii) Into Int D.: 576,000.935 oz

 

 

 

 

 

 

 

 

 

 

 

 

 

 

total customer deposits today: 576,000.935  oz

we had 1 withdrawal out of the customer account:
i) Out of Brinks  813,601.933

 

 

 

 

total withdrawals: 813,601.933  oz

 

we had 1 adjustments

i) Out of HSBC:  525,680.590 oz was adjusted out of the customer and this landed into the dealer account of HSBC

 

total dealer silver:  88.867 million

total dealer + customer silver:  296.132  million oz

 

The total number of notices filed today for the DEC 2018. contract month is represented by 91 contract(s) FOR 455,000 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 3419 x 5,000 oz = 17,095,000 oz to which we add the difference between the open interest for the front month of DEC. (565) and the number of notices served upon today (91 x 5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the DEC/2018 contract month: 3419(notices served so far)x 5000 oz + OI for front month of DEC( 565) -number of notices served upon today (91)x 5000 oz equals 19,465,000 oz of silver standing for the DEC contract month.  This is a strong number of oz standing for an off delivery month.

We gained 63 contracts or 315,000 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. It is becoming quite obvious that the bankers are in urgent need of silver as we witness the constant queue jumping in silver these past 20 months.

 

 

 

 

 

 

 

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ESTIMATED VOLUME FOR TODAY: 54,395 CONTRACTS  …

 

 

 

 

CONFIRMED VOLUME FOR YESTERDAY: 70,500 CONTRACTS…

 

 

 

 

YESTERDAY’S CONFIRMED VOLUME OF 70,500 CONTRACTS EQUATES to 352 million OZ  50.35% 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 -3.73-% (DEC 10/2018)
2. Sprott gold fund (PHYS): premium to NAV RISES TO -0.73% to NAV (DEC 10 /2018 )
Note: Sprott silver trust back into NEGATIVE territory at -3.73%-/Sprott physical gold trust is back into NEGATIVE/

(courtesy Sprott/GATA)

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

NAV 12.55/TRADING 12.01/DISCOUNT 4.29

END

And now the Gold inventory at the GLD/

DEC 10/WITH GOLD DOWN $3.05 TODAY: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 759.73 TONNES

DEC 7/WITH GOLD UP $8.35/A BIG CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 1.51 TONNES/INVENTORY RESTS AT 759.73 TONNES

DEC 6/WITH GOLD UP $1.60: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 758.21 TONNES

DEC 5/WITH GOLD DOWN $4.25: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 758.21 TONNES

DEC 4/WITH GOLD UP $7.25: A HUGE WITHDRAWAL OF 3.53 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 758.21 TONNES

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 10.2018/ Inventory rests tonight at 759.73 tonnes

*IN LAST 512 TRADING DAYS: 175.43 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 412 TRADING DAYS: A NET 15.43 TONNES HAVE NOW BEEN REMOVED FROM GLD INVENTORY.

 

end

 

Now the SLV Inventory/

DEC 10/WITH SILVER DOWN 8 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.735 MILLION OZ/

DEC 7/WITH SILVER UP 16 CENTS: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.735 MILLION OZ/

DEC 6/WITH SILVER DOWN 5 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.817 MILLION OZ//INVENTORY LOWERS TO 318.735 MILLION OZ/

DEC 5/WITH SILVER DOWN 6 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY REMAINS AT 321.552 MILLION OZ.

DEC 4/WITH SILVER UP 10 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV:A WITHDRAWAL OF 134,000 OZ//INVENTORY RESTS AT 321.552 MILLION OZ/

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 10/2018:

 

Inventory 318.735 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 2.52/ and libor 6 month duration 2.89

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

G0LD LENDING RATE: + .37

 

 

XXXXXXXX

12 Month MM GOFO
+ 2.73%

LIBOR FOR 12 MONTH DURATION: 3.10

GOFO = LIBOR – GOLD LENDING RATE

GOLD LENDING RATE  = +.43

end

 

PHYSICAL GOLD/SILVER STORIES

end