Harvey Organ: HUGE Banker Raid!

cartel raidHIGH COMEX GOLD OI (591,340 CONTRACTS) CAUSES BANKERS TO INITIATE A HUGE RAID!

Harvey Organ

SILVER OI ALSO CLIMBS/GLD RISES BY 2.68 TONNES/CHINA’S DEMAND EQUATES TO 171 TONNES OR APPROX 40.7 TONNES/PER MONTH/CHINA HAS AN AWFUL APRIL IN EXPORTS/POLAND NOW REFUSES TO ACCEPT ANY REFUGEES AND WILL NOT TOLERATE ANY EU BLACKMAIL/LEADER OF THE OPPOSITION IN VENEZUELA ASSASSINATED/AUSTRIAN CHANCELLOR FAYMANN RESIGNS/CLINTON FOUNDATION TOOK IN 140 MILLION IN GRANTS AND ONLY 9 MILLION SPENT ON AID WITH THE REST ON WAGES FOR FAMILY MEMBERS

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Good evening Ladies and Gentlemen:

Gold:  $1,265.60 down $27.30    (comex closing time)

Silver 17.07  down 44 cents

In the access market 5:15 pm

Gold $1264.00

silver:  17.02

Let us have a look at the data for today

.

At the gold comex today we had a POOR delivery day, registering 0 notices for NIL ounces for gold,and for silver we had 17 notices for 85,000 oz for the non active April delivery month.

Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 230.39 tonnes for a loss of 73 tonnes over that period

.

In silver, the open interest rose by 1843 contracts up to 204,736 as the price was silver was up by  21 cents with respect to Friday’s trading . In ounces, the OI is still represented by just over 1 BILLLION oz i.e. .1.023 BILLION TO BE EXACT or 146% of annual global silver production (exRussia &ex China) We are now at the  all time highs for OI with respect to silver and very close in gold.

In silver we had 17 notices served upon for 85,000 oz.

In gold, the total comex gold OI ROSE BY A SPECTACULAR 21,848  CONTRACTS UP to 591,340 contracts AS THE PRICE OF GOLD WAS UP $21.50 with FRIDAY’S TRADING(at comex closing). i would again suggest that comex officials are facing “a Houston, I have a problem” situation and that would be ample reason to orchestrate a raid trying to get that OI down.

 

As far as the GLD, we had another increase today of 2.68 tonnes (with gold down)  of gold into the GLD. The new inventory rests at 836.87 tonnes.  I have no problem in telling you that the addition was paper gold and not physical as London is having a tough time finding real metal. We had no change in silver inventory at the SLV. Inventory rests at 336.119 million oz.

.

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

1. Today, we had the open interest in silver rise by 1843 contracts up to 204,736 as the price of silver was UP by 21 cents with FRIDAY’Strading. The gold open interest ROSE by ANOTHER HUGE 21,848 contracts as  gold ROSE by $21.50  ON FRIDAY. Somebody big is standing FOR SILVER and surrounding the comex with paper longs ready to ponce once called upon to take out physical silver.I also believe that for the first time we are witnessing players wishing to stand for real physical in gold. The May contract for gold investors are refusing the tempting fiat offer and want only physical.

(report Harvey).

 

2 a) Gold trading overnight, Goldcore

(Mark OByrne/off today

2b)  Gold trading earlier this morning;

(Harvey)

2c) COT report

Harvey

3. ASIAN AFFAIRS

i)Late  SUNDAY night/ MONDAY morning: Shanghai closed DOWN BADLY BY 81.14 PTS OR 2.79%  /  Hang Sang closed UP 46.94 OR 0.23%. The Nikkei closed UP 109.31 POINTS OR 0.68% . Australia’s all ordinaires  CLOSED UP 0.54% Chinese yuan (ONSHORE) closed DOWN at 6.5072.  Oil FELL  to 44.10 dollars per barrel for WTI and 45.04 for Brent. Stocks in Europe DEEPLY IN THE RED . Offshore yuan trades  6.5294 yuan to the dollar vs 6.5072 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE WIDENS.

REPORT ON JAPAN  SOUTH KOREA AND CHINA

a) REPORT ON JAPAN

The comatose economy inside Japan is a showcase for the economies of the world as Keynesian economics just do not work:

( zero hedge)

b) REPORT ON CHINA

i)Late Saturday night, China released its exports and imports and they missed badly confirming weak demand both globally and inside China. Remember that POBC injected 1 trillion USA dollars into their economy in March but that seems to have dissipated. They are also reporting huge imports from Hong Kong but that is over invoicing and is a way to get money out of the country.

ii)Turmoil returns to Mainland Chinese stocks as Shanghai is down close to 6% over two trading days. Iron ore futures plummet setting the tone:

( zero hedge)
iii)We have highlighted this to you on several occasions in the past year. China has a huge debt problem.  Total loans in USA dollars equates to 31 trillion dollars and no doubt that about 20% is bad or non performing. Total Chinese GDP is around 10 trillion so a debt at 35 trillion shows that this economy is in serious trouble.

Natixis did a good thorough analysis of the problem:
They have found that 18% of all companies cannot pay interest on its debt.
In real estate, as a SUBSET, it is 35%
They are about to see their MINSKY MOMENT.
( ZERO HEDGE)

4.EUROPEAN AFFAIRS

i)Christine Lagarde of the iMF has sent a letter to the 19 officials of the EU telling them Greece can never achieve a primary surplus of 3.5% (budget surplus-interest expenses). They propose a 1.5% primary surplus with debt reduction. If they do not offer both of these to Greece then the IMF will not participate.

Germany on the underhand has stated that for their vote two aspects are needed:

  1. to fulfill previous agreement of 3.0% primary surplus
  2. no debt reduction

seems we have a huge problem here as Germany has a huge 3.5 billion euro payment in July that it cannot meet.

( MISH SHEDLOCK/MISHTALK)

ii)Then late Sunday afternoon, Greece was again shut down by protests and strikes.  The protest is over pensions again

( Mish Shedlock)

iii)Then much to the anger of protesters, the Greek Parliament passes further austerity hoping to unlock 4 billion euros of a bailout loan:

( zero hedge)

iv)The EU want Erdogan to reform his “anti terrorist law”.  This law gives him the right to arrest journalists or whomever he wishes. Erdogan just stated he would not go along with the wishes of the EU.

Now we have a two fold problem:

a) 80 million Turks will have via free travel inside Europe

b) How will they all deal with the migrant situation

dire indeed…

( Mish Shedlock)

 

v)On Friday, we brought you a story that UK Regulators were investigating Deutsche bank on a sale of bonds to Italian investors.  It seems that Deutsche bank was dumping their bonds while promoting the worthiness of these Italian bonds. Now we find out that the TTIP will protect megabanks from prosecution by investors.

This is why the TTIP must be defeated…
( Eric Zuesse)
vi)Austria’s Chancellor Faymann resigns after losing support of his party, the Social Democratic Party.  The surge in popularity of the anti immigrant Freedom Party is having an powerful effect on Austrian politics:

( zero hedge)
vii) Poland now refuses to accept any refugees as they pose a threat to security and they will not comply with the European “blackmail”

( zero hedge)

5.GLOBAL ISSUES

China’s demand for iron ore and copper has crashed causing the Baltic Dry Index to collapse.  What we are witnessing is a total crash in demand for base metals and crude throughout the globe:

( Baltic Dry Index/zero hedge)

6.EMERGING MARKETS

i)The situation inside Venezuela is nothing but chaos. The leader of the opposition that is trying to overthrow Maduro was assassinatedSunday night, afte3r 1.8 million signatures petition to oust the President.

( zero hedge)

ii)Brazilian stocks and the Brazilian real tumble after the Brazilian Hous Chief calls for an annulment on the procedure used to impeach Roussef.  The markets want all the corrupt actors out of government.  They must due a new vote:

( zero hedge)

7.OIL ISSUES

A real shocker:  long time Finance minister Al Naimi of Saudi Arabia was fired by basically replaced by the 30 yr son of King Salman, Mohammed.You can bet that Saudi Arabia will be intent on breaking the shale business of the USA, and hurt weaker countries like Venezuela

( zero hedge)

ii)The oil fires are out of control in Canada.  The city of Fort McKay has been evacuated.

( zero hedge)

iii)Sunday night:  OIl jumps on news of a new Saudi oil Minister:

( zero hedge)

iv)Large Cushing build causes oil to tumble into the 43 dollar handle for WTI

( zero hedge)

8.PHYSICAL MARKETS

i)For the first time, investors are bailing out of high yielding bond funds and entered gold:

( zero hedge)

ii)We brought this story to your attention last week and it is worth repeating.  Paul Mylchreest who discovered the huge crossing trade by long Nikkei (short yen) and short gold.  It had an uncanny correlation by over 90%.Now Mylchreest has evidence that London has no float of gold.  Once investors realize that there is no float, the unallocated gold holders will immediately ask for allocated gold and may cause a run on the LBMA

He also states that there are 7 trillion USA bonds trading throughout the globe at negative interest rates.  With gold at 0 interest rate, the move to gold may also can be considered a move to a better rate:
a must read..
(Paul Mylcreest/zero hedge)
iii)TF Metals  (Craig Hemke) elaborates on the Mylchreest report(courtesy Craig Hemke)

iv)A terrific graphic display outlining the fraud at the LBMA:

( Ronan Manly)

v)The bloodbath on the base metals and crude carries over form China onto the USA Markets:

( zero hedge)

 

vi)For the month of April, China’s SGE withdrew 171.4 tonnes  which equals demand for gold inside China/this averages 40.7 tonnes per week and this is good demand.

( Lawrie Williams/Lawrie on gold)

9.USA STORIES WHICH WILL INFLUENCE THE PRICE OF GOLD/SILVER

i)The judge hearing the case whether to cut pension payouts is very troublesome.  The fund pays out more than it takes in and will be bust in 10 yrs.  However UPS gets a sigh of relief as it does not have to give extra funds to the Central States Pension Fund. It would have owed 3.8 billion USA:

(zero hedge)

ii)The Clinton foundation has took in 140 million dollars in grants and has just spent 9 million in direct aid.  The rest went for salaries to Clinton family members and friends”

( Mike Krieger/Liberty Blitzkrieg blog)
iii)David Stockman in round 3 advocates the elimination of payroll taxes and the elimination of corporate taxes in favour of a 15% value added tax on goods:

( David Stockman/ContraCorner)

Let us head over to the comex:

The total gold comex open interest ROSE TO ANOTHER EXTREMELY HIGH  OI level of 591,340  for a GAIN 21,848 contracts AS  THE PRICE OF GOLD WAS UP $21.90 with respect to FRIDAY’S TRADING. We are now entering the NON active delivery month of MAY. For the past two years, we have strangely witnessed two interesting developments and we have generally seen two phenomena happen respect to the gold open interest:  1) total gold comex collapses in OI as we enter any delivery month  and 2) a continual drop in the amount of gold standing in that month as that month progresses. IT SURE SEEMS THAT THE LATER HAS STOPPED.   The month of May saw its OI RISE 18 contracts UP to 1441. We had 50 notices filed ON FRIDAY so we surprisingly gained another 68 contracts or an additional 6,800 oz will stand for delivery. This is truly amazing as somebody is in desperate need of physical gold AND THEY ARE REFUSING FIAT. The next big active gold contract is June and here the OI ROSE by 5,164 contracts UP to 405,249.. The estimated volume today (which is just comex sales during regular business hours of 8:20 until 1:30 pm est) was excellent at 229,916. The confirmed volume  yesterday (which includes the volume during regular business hours + access market sales the previous day was EXCELLENT at 294,758 contracts. The comex is not in backwardation. We are exactly 3 weeks away from first day notice for the huge June contract.

Today we had 0 notices filed for NIL oz in gold.

 

And now for the wild silver comex results. Silver OI ROSE by 1843 contracts from 202,893 UP to 204,736 as  the price of silver was UP BY 21 cents with FRIDAY’S TRADING. For the first time in over 2 years, we have not witnessed a liquidation of open interest as we ENTERED first day notice .  The next active contract month is May and here the OI FELL by 240 contracts DOWN to 1071. We had 220 notices filed ON FRIDAY so we lost 20 contracts or 100,000 oz of silver will not stand for delivery in this active month of May. The next non active month of June saw its OI RISE by 294 contracts UP to 795  OI.The next big delivery month is July and here the OI ROSE by 1246 contracts up to 142,678. The volume on the comex today (just comex) came in at 49,613 which is EXCELLENT. The confirmed volume YESTERDAY (comex + globex) was AGAIN HUGE AT 59,277. Silver is not in backwardation. London is in backwardation for several months.
THE HIGH OPEN INTEREST FOR THE ENTIRE COMPLEX PLUS THE HIGH OI FOR THE FRONT MAY CONTRACT MUST BE SCARING OUR BANKERS TO NO END.
 
We had 17 notices filed for 85,000 oz.
 

MAY contract month:

INITIAL standings for MAY

Initial Standings for MAY
May 9.
Gold
Ounces
Withdrawals from Dealers Inventory in oz   nil
Withdrawals from Customer Inventory in oz  nil  354.321 OZBRINKS,

DELAWARE

Deposits to the Dealer Inventory in oz NIL
Deposits to the Customer Inventory, in oz  184,369.04 OZBRINKS

SCOTIA

No of oz served (contracts) today 0 contracts
(NIL oz)
No of oz to be served (notices) 1441 CONTRACTS144,100 OZ
Total monthly oz gold served (contracts) so far this month 632 contracts (82,500 oz)
Total accumulative withdrawals  of gold from the Dealers inventory this month   nil
Total accumulative withdrawal of gold from the Customer inventory this month  190,738.6 OZ

Today we had 0 dealer deposit

 

total dealer deposit: NIL oz

Today we had 0 dealer withdrawals:

total dealer withdrawals:  nil oz

Today we had 2 customer deposits:

i) Into Brinks:  119,679.660 oz

ii) Into Scotia: 64,689.38 oz

total customer deposit: 184,369.04 OZ

Today we had 2 customer withdrawals:

i) Out of Brinks:  64.28 oz

ii) Out of Delaware: 301.04 oz

 

Total customer withdrawals:  365.321 oz

 

Today we had 0 adjustment:

 

Today, 0 notices was 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 0 contracts of which 0 notices was stopped (received) by JPMorgan dealer and 0 notices were stopped (received)  by JPMorgan customer account. 
To calculate the initial total number of gold ounces standing for the MAY contract month, we take the total number of notices filed so far for the month (632) x 100 oz  or 63200 oz , to which we  add the difference between the open interest for the front month of MAY (1441 CONTRACTS) minus the number of notices served upon today (0) x 100 oz   x 100 oz per contract equals 207,300 oz, the number of ounces standing in this non active month.  This number is huge for May. Let us see if this number remains constant throughout themonth
 
Thus the initial standings for gold for the MAY. contract month:
No of notices served so far (632) x 100 oz  or ounces + {OI for the front month (1441) minus the number of  notices served upon today (50) x 100 oz which equals 207,300 oz standing in this non  active delivery month of MAY(6.4429 tonnes).
WE GAINED 68 CONTRACTS OR 6800 OZ WILL  STAND FOR DELIVERY
Since the comex allows GLD shares to be used for settling, it may take quite a while for the physical gold to enter the comex vaults.  So far I have seen little evidence of any settling of contracts but I will continue to monitor it for you. 
 
We thus have 6.4479 tonnes of gold standing for MAY and 18.308 tonnes of registered gold for sale, waiting to serve upon those standing.  The bankers are still doing their best in cash settling as there is not enough registered gold to satisfy those that are standing.
We now have partial evidence of gold settling for last months deliveries We now have 6.4479 TONNES FOR MAY + 12.3917 tonnes (April) +2.2311 tonnes (March) + 7.99 (total Feb)- .940 (probable delivery on March 1) tonnes -.0434 tonnes (March 11,12,17,18) + March 31: 1.2470 and then  April 1,2: – .0006 tonnes  and last week April 16 .3203 and April 22 .(0009 tonnes) + april 29  .205 tonnes + May 5:  3.799 and May 6: 1.607 tonnes  = 21.301 tonnes still standing against 18.308 tonnes available.  .
 
Total dealer inventor 583,614.083 tonnes or 18.308 tonnes
Total gold inventory (dealer and customer) =7,407,157.204 or 230.39 tonnes 
 
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 224.67 tonnes for a loss of 73 tonnes over that period. 
 
JPMorgan has only 20.97 tonnes of gold total (both dealer and customer)
May is not a very good delivery month and yet 6.44 tonnes of gold is standing.  What is different from other months is that the bankers cannot offer any fiat to those standing. They want the real stuff. We are extremely close to the all time highs in both gold and silver OI.
 end
And now for silver
 

MAY INITIAL standings

 May 9.2016

Silver
Ounces
Withdrawals from Dealers Inventory nl oz
Withdrawals from Customer Inventory  84,578.340 ozscotia
Deposits to the Dealer Inventory  nil
Deposits to the Customer Inventory nil
No of oz served today (contracts) 23  CONTRACTS85,000 OZ
No of oz to be served (notices) 1054 contracts5,270,000 oz
Total monthly oz silver served (contracts) 1757 contracts (8,785,000 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  1,619,275.2 oz

today we had 0 deposits into the dealer account

total dealer deposit:nil oz

we had 0 dealer withdrawals:

total dealer withdrawals:  nil

we had 0 customer deposit:

Total customer deposits: nil oz.

We had 1 customer withdrawals

i) out ouf CNT: 30,358.500 oz

:

total customer withdrawals:  30,358.500 oz

 
 

 

 we had 1 adjustment

Out of CNT:  44,845.49 oz was adjusted out of the customer and this landed into the dealer account of CNT

The total number of notices filed today for the MAY contract month is represented by 23 contracts for 85,000 oz. To calculate the number of silver ounces that will stand for delivery in May., we take the total number of notices filed for the month so far at (1757) x 5,000 oz  = 8,785,000 oz to which we add the difference between the open interest for the front month of MAY (1071) and the number of notices served upon today (23) x 5000 oz equals the number of ounces standing 
 
Thus the initial standings for silver for the MAY contract month:  1757 (notices served so far)x 5000 oz +(XXX{ OI for front month of MAY ) -number of notices served upon today (17)x 5000 oz  equals 14,055,000 oz of silver standing for the MAY contract month.
WE LOST ANOTHER 20  CONTRACTS OR 100,000 OZ WILL NOT STAND AS THEY WERE CASH SETTLED.
 
Total dealer silver:  29.226 million
Total number of dealer and customer silver:   152.545 million oz
The open interest on silver is still close an all time high with the record of 206,748 being set in the last week of April. The registered silver (dealer silver) is now at multi year lows as silver is being drawn out and heading to China and other destinations.
end
Somehow I did not notice that the COT report was late and I used last week instead of this week’s COT.  The report is always out at 3:30.  I took the report at 3:40 but did not notice it was not updated.
The real report is a humdinger:
Corrected COT from Friday (my error)
Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
338,476 66,828 59,431 116,644 411,545 514,551 537,804
Change from Prior Reporting Period
50,303 -488 13,195 199 54,992 63,697 67,699
Traders
202 97 90 45 58 285 211
 
Small Speculators  
Long Short Open Interest  
51,223 27,970 565,774  
4,193 191 67,890  
non reportable positions Change from the previous reporting period
COT Gold Report – Positions as of Tuesday, May 03, 2016

Our large speculators:

Those large speculators that have been long in gold added a whopping 50,303 contracts to their long side.
Those large speculators that have been short in gold covered a tiny 448 contracts.
Our commercials;
Those commercials that have been long in gold added a  tiny 199 contracts to their long side
Those commercials that have been short in gold added a whopping 54,992 contracts to their short side.
Our small specs;
Those small specs that have been long in gold added 4193 contracts to their long side.
Those small specs that have been short in gold added 191 contracts to their short side.
Conclusions:
we have a crime scene at the commercial side of things at the gold comex.
And now our silver COT:
Silver COT Report: Futures
Large Speculators Commercial
Long Short Spreading Long Short
100,401 24,526 14,599 55,731 146,325
627 3,525 -6,227 -969 -1,677
Traders
113 64 39 35 41
Small Speculators Open Interest Total
Long Short 198,237 Long Short
27,506 12,787 170,731 185,450
-1,942 -4,132 -8,511 -6,569 -4,379
non reportable positions Positions as of: 168 128
Tuesday, May 03, 2016   © SilverSeek.c
Our large specs:
Those large specs that have been long in silver added 627 contracts to their long side
Those large specs that have been short in silver added 3525 contracts to their short side.
Our Commercials:
Those commercials that have been long in silver pitched 969 contracts from their long side
Those commercials that have been short in silver covered 1677 contracts from their short side.
Our small specs:
Those small specs that have been long in silver pitched 1942 contracts from their long side.
Those small specs that have been short in silver covered 4132 contracts from their short side.
Conclusion:
Commercials go net long by 708 contracts and please note the difference between gold and silver.
end
And now the Gold inventory at the GLD
May 9/Surprisingly we had another deposit of 2.68 tonnes of gold into the GLD with gold down!!
May 6 SURPRISINGLY WE HAD ANOTHER HUGE DEPOSIT OF 8.65 TONNES OF GOLD INTO THE GLD/ INVENTORY RESTS AT 834.19 TONNES
May 5/SURPRISINGLY WE HAD A HUGE DEPOSIT OF 3.90 TONNES OF GOLD WITH THE PRICE OF GOLD DOWN???
May 4/ we had a small deposit of .6 tonnes of gold into the GLD/inventory rests at 825.54 tonnes
May 3/no change in gold inventory at the GLD/Inventory  rests at 824.94 tonnes
May 2/a hugechange in gold inventory at the GLD a deposit of 20.80/Inventory rests at 824.94 tonnes
April 29/no change in gold inventory at the GLD/Inventory rests at 804.14 tonnes
April 28/we gained 1.49 tonnes of gold at the GL/Inventory rests at 804.14
April 27/no change in gold inventory at the GLD/rests at 802.65 tonnes
aPRIL 26/ a withdrawal of 2.38 tonnes of gold/inventory rests at 802.65 tonnes
April 25.2016: no change in gold inventory/rests tonight at 805.03 tonnes
April 22/ no changes in gold inventory/rests tonight at 805.03 tonnes
April 21/no change in gold inventory/rests tonight at 805.03 tonnes
April 20/no change in gold inventory/rests tonight at 805.03 tonnes
April 19./we had a huge withdrawal of 7.43 tonnes from the GLD/Inventory rests tonight at 805.03 tonnes
April 18.2016/a huge addition of 6.38 tonnes of gold  in gold inventory at the GLD/Inventory rests at 812.46
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

May 9.:  inventory rests tonight at 836.87 tonnes

end

Now the SLV Inventory
May 9. no change in silver inventory/rests at 336.119 million oz.
May 6/ SURPRISINGLY WE HAD A WITHDDRAWAL OF 1.142 MILLLION OZ FROM THE SLV
INVENTORY RESTS AT 336.119 MILLION OZ
MAY 5.2016: NO CHANGE IN INVENTORY/rests tonight at 337.261 million oz
May 4/we had a good size withdrawal of 1.553 million oz from the SLV/Inventory rests at 337.261 million oz
May 3: we had another huge deposit of 1.807 million oz/inventory rests at 338.814 million oz
May 2/a huge in silver inventory at the SLV/a deposit of 1.49 million oz/Inventory rests at 337.007 million oz
April 29.2016/no change in silver inventory at the SLV/Inventory rests at 335.580
April 28/no change in silver inventory at the SLV/Inventory rests at 335.580 million oz
April 27/we had another addition of 856,000 oz into the SLV/Inventory rests at 335.580
aPRIL 26/no change in silver inventory at the SLV/Inventory rests at 334.724 million oz.
April 25.2016/ No change in silver inventory/rests tonight at 334.724 million oz.
April 22/ no changes in silver inventory/rests tonight at 334.724 million oz
April 21/no change in silver inventory/rests at 334.724 million oz/
April 20/no change in inventory/rests at 334.724 million oz
April 19./we had a huge inventory deposit of 1.437 million oz/inventory rests at 334.724
.
May 9.2016: Inventory 336.119 million oz
end
 
1. Central Fund of Canada: traded at Negative 5.7 percent to NAV usa funds and Negative 6.1% to NAV for Cdn funds!!!!
Percentage of fund in gold 60.9%
Percentage of fund in silver:37.7%
cash .+1.4%( May 9/2016).
2. Sprott silver fund (PSLV): Premium to  FALLS to -.46%!!!! NAV (MAY 9.2016) 
3. Sprott gold fund (PHYS): premium to NAV  RISES 1.45% to NAV  ( MAY 9.2016)
Note: Sprott silver trust back  into NEGATIVE territory at -0.46% /Sprott physical gold trust is back into positive territory at +1.45%/Central fund of Canada’s is still in jail.
It looks like Eric Sprott got on the nerves of our bankers as they lowered the premium in silver to -.46%.  Remember that Eric is to get 75 million dollars worth of silver in a new offering.