Harvey Organ: Silver Is Advancing In Price Because Of Physical Supply Tightness In London

Harvey says the silver market is in severe backwardation in London, and he says we are witnessing delays in actual silver deliveries. Here’s an update…

by Harvey Organ of Harvey Organ Blog

MARCH 12/GOLD ADVANCES SMARTLY UP $7.00 TO $1298.00/AND THEN CONTINUES IN THE ACCESS MARKET TO $1301.00//SILVER ADVANCES 14 CENTS TO $15.41 AND THEN CONTINUES TO $15.45 ON TIGHTNESS IN LONDON AND COMEX (ANOTHER DAY OF QUEUE JUMPING)//CHINA MAY BE APPROACHING ITS MINSKY MOMENT AS ANOTHER 6 BILLION IN DEBT WAS HIDDEN: TRUE DEBT TO GDP 340%//USA WARNS ITALY NOT TO COZY UP TO CHINA: ITALY WANTS TO JOIN THE SILK ROAD PROJECT//MANY COUNTRIES GROUND THEIR BOEING 737 MAX 8//MORE SWAMP STORIES FOR YOU TONIGHT///

GOLD: $1298.00 UP $7.00 (COMEX TO COMEX CLOSING)

Silver:   $15.41 UP 14 CENTS (COMEX TO COMEX CLOSING)

Closing access prices:

Gold :  $1301.60

 

silver: $15.45

 

 

For comex gold and silver:

MARCH

 

 

 

NUMBER OF NOTICES FILED TODAY FOR  MAR CONTRACT: 8 NOTICE(S) FOR 800 OZ (0.0249 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR:  335 NOTICES FOR 33500 OZ  (1.0419 TONNES)

 

 

SILVER

 

FOR MARCH

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14 NOTICE(S) FILED TODAY FOR 70,000  OZ/

 

total number of notices filed so far this month: 4872 for 24,360,000

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Bitcoin: OPENING MORNING TRADE $3883:UP $14

 

Bitcoin: FINAL EVENING TRADE: $3863  DOWN 53

 

end

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JPMorgan or Goldman Sachs are taking a huge issuance (stopping) of gold at the comex.

today  4/8

EXCHANGE: COMEX
CONTRACT: MARCH 2019 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,288.800000000 USD
INTENT DATE: 03/11/2019 DELIVERY DATE: 03/13/2019
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
657 C MORGAN STANLEY 1
661 C JP MORGAN 4
737 C ADVANTAGE 7 3
905 C ADM 1
____________________________________________________________________________________________

TOTAL: 8 8
MONTH TO DATE: 335

Let us have a look at the data for today

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In silver, the total OPEN INTEREST FELL BY A SMALL SIZED 648 CONTRACTS FROM 191,346 DOWN TO 190,698 WITH YESTERDAY’S 7 CENT LOSS IN SILVER PRICING AT THE COMEX.(TODAY WE ARRIVED FURTHER FROM  AUGUST’S 2018  RECORD SETTING OPEN INTEREST OF 244,196 CONTRACTS. WE ALWAYS WITNESS A CONTRACTION IN TOTAL OI AS WE APPROACH FIRST DAY NOTICE AND IT SEEMS THE CULPRIT IS THE FORCED LIQUIDATION OF SPREADERS.

WE HAVE ALSO WITNESSED A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY 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 SMALL SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP:

EFP’S FOR MARCH,  0 FOR APRIL,  1383 FOR MAY, 0 FOR DECEMBER AND ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE: OF 1383 CONTRACTS. WITH THE TRANSFER OF 1383 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 857 EFP CONTRACTS TRANSLATES INTO 6.915 MILLION OZ  ACCOMPANYING:

1.THE 7 CENT LOSS IN SILVER PRICE AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR DELIVERY IN THE LAST NINE 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  AND

21.925 MILLION OZ FINALLY STAND FOR DECEMBER.

5.845 MILLION OZ STAND IN JANUARY.

2.955 MILLION OZ STANDING FOR FEBRUARY.

AND NOW: 26.360 MILLION OZ STANDING IN MARCH.

 

 

ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF MARCH:

19,240 CONTRACTS (FOR 8 TRADING DAYS TOTAL 19,240 CONTRACTS) OR 96.20 MILLION OZ: (AVERAGE PER DAY: 2405 CONTRACTS OR 12.025 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF MAR:  96.20 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 13.74% 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 2019 TO DATE SILVER EFP’S:          461.10    MILLION OZ.

JANUARY 2019 EFP TOTALS:                                                      217.455. MILLION OZ

FEB 2019 TOTALS:                                                                       147.4       MILLION OZ/

 

 

RESULT: WE HAD A SMALL SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 648 WITH THE 7 CENT LOSS IN SILVER PRICING AT THE COMEX /YESTERDAY..THE CME NOTIFIED US THAT WE HAD   SMALL SIZED EFP ISSUANCE OF 1383 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 STRANGELY GAINED A SMALL SIZED: 735 TOTAL OI CONTRACTS ON THE TWO EXCHANGES: (DESPITE THE RAID)

i.e 1383 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH DECREASE OF648 OI COMEX CONTRACTS. AND ALL OF THIS  DEMAND HAPPENED WITH A 7 CENT LOSS IN PRICE OF SILVER  AND A CLOSING PRICE OF $15.27 WITH RESPECT TO YESTERDAY’S TRADING. YET WE HAVE 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. 0.975 BILLION OZ TO BE EXACT or 139% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT FEBRUARY MONTH/ THEY FILED AT THE COMEX: 14 NOTICE(S) FOR 70,000 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./ DEC. AT 21.925 MILLION OZ   JANUARY AT  5.825 MILLION OZ.AND FEB 2019:  2.955 MILLION OZ/AND NOW MARCH: 26.360 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 ANOTHER STRONG 5,180 CONTRACTS UP TO 518,975 DESPITE THE NASTY FALL IN THE COMEX GOLD PRICE/(A DROP IN PRICE OF $8.00//YESTERDAY’S TRADING). HOWEVER…….

 

 

THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A  GOOD SIZED 4688 CONTRACTS:

 

MARCH HAD AN ISSUANCE OF 0 CONTACTS  APRIL 4688 CONTRACTS,JUNE: 0 CONTRACTS DECEMBER: 0 CONTRACTS AND ALL OTHER MONTHS ZERO.  The NEW COMEX OI for the gold complex rests at 523,054. 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  A HUGE SIZED GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 9868 CONTRACTS: 5180 OI CONTRACTS INCREASED AT THE COMEX AND 4688 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN OF 9868 CONTRACTS OR 986,800= 30.69 TONNES.

YESTERDAY WE HAD A LOSS IN THE PRICE OF GOLD TO THE TUNE OF $8.00.…AND WITH THAT, WE HAD A HUGE GAIN IN TONNAGE OF 30.68 TONNES??.

 

 

 

 

YESTERDAY, WE HAD 8025 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MARCH : 62,277 CONTRACTS OR 6,227,700 OZ OR 193.70 TONNES (8 TRADING DAYS AND THUS AVERAGING: 7784 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE STRONG SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 8 TRADING DAYS IN  TONNES: 193.70 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2018, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES

THUS EFP TRANSFERS REPRESENTS 193.70/2550 x 100% TONNES = 7.59% OF GLOBAL ANNUAL PRODUCTION SO FAR IN DECEMBER ALONE.***

ACCUMULATION OF GOLD EFP’S YEAR 2019 TO DATE:     1069.1 TONNES

JANUARY 2019 TOTAL EFP ISSUANCE;   531.20 TONNES

FEB 2019 TOTAL EFP ISSUANCE:             344.36 TONNES

 

 

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 SIZED INCREASE IN OI AT THE COMEX OF 5180 DESPITE THE LOSS IN PRICING ($8.00) THAT GOLD UNDERTOOK YESTERDAY) //.WE ALSO HAD A GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 4688 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 4688 EFP CONTRACTS ISSUED, WE  HAD A GIGANTIC GAIN OF 9868 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES:

4688 CONTRACTS MOVE TO LONDON AND 5180 CONTRACTS INCREASED AT THE COMEX. (IN TONNES, THE STRONG GAIN IN TOTAL OI EQUATES TO 30.69 TONNES). ..AND ALL OF THIS HUGE  DEMAND OCCURRED WITH A LOSS OF $8.00 IN YESTERDAY’S TRADING AT THE COMEX????

 

 

 

we had:  8 notice(s) filed upon for 800 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 UP  $7.00 TODAY

 

A HUGE ADDITIONS  (DEPOSIT) TODAY:

A DEPOSIT OF 2.94 TONNES

 

 

INVENTORY RESTS AT 769.53 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 UP 14 CENTS  IN PRICE  TODAY:

NO CHANGES IN SILVER INVENTORY AT THE SLV.

 

 

 

/INVENTORY RESTS AT 309.676 MILLION OZ.

Let us head over to the comex:

 

THE TOTAL COMEX GOLD OPEN ROSE BY STRONG  SIZED 5180 CONTRACTS UP TO A LEVEL OF 518,975 DESPITE THE LOSS IN THE PRICE OF GOLD ($8.00) IN YESTERDAY’S // COMEX TRADING).

WE ARE NOW IN THE  NON ACTIVE DELIVERY MONTH OF MARCH..  THE CME REPORTS THAT THE BANKERS ISSUED A GOOD SIZED COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 4688 EFP CONTRACTS WERE ISSUED:

FOR MARCH:  0. FOR APRIL 4688, FOR JUNE: 0 CONTRACTS AND FINALLY DECEMBER: 0 AND  ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:  4688 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:9,868 TOTAL CONTRACTS IN THAT 4688 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A STRONG SIZED 5180 COMEX CONTRACTS.

NET GAIN ON THE TWO EXCHANGES ONLY::9868 contracts OR 986,800 OZ OR 30.69 TONNES.

 

We are now in the NON active contract month of MARCH and here the open interest stands at 46 contracts  for a loss of 0 contracts.We had 8 notices served upon yesterday so we AGAIN GAINED  8 contracts or AN ADDITIONAL 800 oz will stand at the comex as these guys refused to morph into London based forwards as well as negating a fiat bonus for their effort.

 

The next non active delivery month after  March is the  active delivery month is April and here the OI lost by 11,288 contracts down to 279,848 contracts. The non active month of May picked up 49 contracts for a total of 271 open interest.  After May, the next active delivery month is June and here the OI stands at 156,165 having gained 12,721 contracts.

 

TODAY’S NOTICES FILED:

WE HAD 8 NOTICES FILED TODAY AT THE COMEX FOR 800 OZ. (0.0249 tonnes)

 

 

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And now for the wild silver comex results.

Total COMEX silver OI FELL BY A SMALL SIZED 648 CONTRACTS FROM 191,346 DOWN TO 190,698(AND FURTHER FROM THE NEW RECORD OI FOR SILVER SET ON AUGUST 22.2018.  THE PREVIOUS RECORD WAS SET APRIL 9.2018/ 243,411 CONTRACTS) AND TODAY’S SMALL OI COMEX LOSS  OCCURRED WITH A 7 CENT LOSS IN PRICING.//YESTERDAY

 

 

WE ARE NOW INTO THE ACTIVE DELIVERY MONTH OF MARCH AND THE  OPEN INTEREST IN THIS FRONT MONTH RESTS AT 414 HAVING GAINED 4 CONTRACTS.

WE HAD 10 NOTICES FILED YESTERDAY SO WE GAINED 14 CONTRACTS OR 70,000 ADDITIONAL OZ WILL STAND AT THE SILVER COMEX AS THESE GUYS REFUSED TO MORPH INTO LONDON BASED FORWARDS AS WELL AS NEGATING A FIAT BONUS. WE HAVE BEEN WITNESSING QUEUE JUMPING IN SILVER FOR OVER 3 YEARS IN THAT THE TOTAL OZ STANDING INCREASES FROM FIRST DAY NOTICE STANDING.

TODAY THE  SILVER COMEX IS IN STRESS.!! WE HAVE HAD FOR THE 8TH CONSECUTIVE DAY QUEUE JUMPING AND THUS ANOTHER INCREASE IN THE AMOUNT OF SILVER STANDING AT THE COMEX.

 

AFTER MARCH, WE HAVE THE NON ACTIVE DELIVERY MONTH OF APRIL.  HERE: APRIL RISES TO 811 CONTRACTS FOR A GAIN OF 7 CONTRACTS.  AFTER APRIL, THE NEXT BIG ACTIVE DELIVERY MONTH IS MAY AND HERE THE OI FELL BY 904 CONTRACTS DOWN TO 138,898 CONTRACTS. WE HAVE WITNESSED A MASSIVE SHORT COVERING AT THE BANKS WITH RESPECT TO SILVER COUPLED WITH CONTINUE QUEUE JUMPING……SOMETHING IS SCARING THEM TO DEATH!!!

 

 

 

ON A NET BASIS WE GAINED A SMALL 735 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED A648 CONTRACT LOSS AT THE COMEX COMBINING WITH THE ADDITION OF 1383 OI CONTRACTS NAVIGATING OVER TO LONDON.

NET GAIN ON THE TWO EXCHANGES:  735 CONTRACTS…AND ALL OF THIS   DEMAND OCCURRED WITH A 7 CENT LOSS IN PRICING// YESTERDAY???.

 

 

 

 

 

 

 

 

 

TODAY’S NUMBER OF NOTICES FILED:

 

We, today, had 14 notice(s) filed for 70,000 OZ for the MARCH, 2019 COMEX contract for silver

Trading Volumes on the COMEX TODAY:  217,568  CONTRACTS

 

 

CONFIRMED COMEX VOL. FOR YESTERDAY:  247,166  contracts

 

 

 

 

 

 

 

Initial standings for  MAR/GOLD

MAR 12 /2019.

we had 0 dealer entries:

 

 

total dealer deposits: nil oz

total dealer withdrawals: 0 oz

We had 1 kilobar entries

 

we had 1 deposit into the customer account

i) Into JPMorgan:  147,228.368 oz

ii) Into everybody else:  nil

total gold deposits: 147,228.368 oz

and this arrived from HSBC

no gold arrives from outside.

we had 1 gold withdrawals from the customer account:

i) out of HSBC: 147,228.368  oz

 

 

 

total gold withdrawals;  147,228.368 oz

thus zero gold arrives and zero gold leaves the comex/

we had 0  adjustments…

FOR THE MAR 2019 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 8 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 4 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account and 0 notices by the squid  (Goldman Sachs)

 

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To calculate the INITIAL total number of gold ounces standing for the MARCH/2019. contract month, we take the total number of notices filed so far for the month (335) x 100 oz , to which we add the difference between the open interest for the front month of MAR. (46 contract) minus the number of notices served upon today (8 x 100 oz per contract) equals 37,500 OZ OR 1.1664 TONNES) the number of ounces standing in this active month of MARCH

Thus the INITIAL standings for gold for the MAR/2019 contract month:

No of notices served (335 x 100 oz)  + {46)OI for the front month minus the number of notices served upon today (8 x 100 oz )which equals 37,500 oz standing OR 1.1664 TONNES in this active delivery month of MARCH.

We GAINED 8 contracts or an additional 800 oz WILL  STAND AT THE COMEX AS THEY REFUSED TO MORPH INTO LONDON BASED FORWARDS AS WELL AS NEGATING TO ACCEPT A FIAT BONUS.

 

HOWEVER, THE GOLD COMEX (AND SILVER COMEX) ARE NOW IN STRESS AS THE CROOKS ARE DESPERATE TO FIND PHYSICAL METAL.

SURPRISINGLY NO GOLD HAS BEEN ENTERING THE COMEX VAULTS AND WE HAVE WITNESSED THIS FOR THE PAST YEAR!!  WE HAVE ONLY 11.388 TONNES OF REGISTERED (  GOLD OFFERED FOR SALE)

 

 

 

 

 

total registered or dealer gold:  366,127.915 oz or  11.388 tonnes
total registered and eligible (customer) gold;   8,035,858.276 oz 249.94 tonnes

FOR COMPARISON

MARCH 2018 VS MARCH 2019 CONTRACTS

 

 

 

 

 

 

 

ON FIRST DAY NOTICE MARCH 1/2018: TOTAL GOLD TONNAGE STANDING FOR DELIVERY: 2.1524TONNES

THE FINAL AMOUNT OF GOLD TONNAGE: MARCH 31/2018:  1.6114 TONNES AS THE REST MORPHED INTO LONDON BASED FORWARDS.

IN THE LAST 29 MONTHS 105 NET TONNES HAS LEFT THE COMEX.

 

THE GOLD COMEX IS NOW IN STRESS AS
1. GOLD IS LEAVING THE COMEX
2. GOLD IS LEAVING THE REGISTERED CATEGORY OF THE COMEX.

end

And now for silver

AND NOW THE  DELIVERY MONTH

MAR 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  3 deposits into the customer account

 

i) Into JPMorgan:  34,819.940  oz

 

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

JPMorgan now has 147.825 million oz of  total silver inventory or 49.12% of all official comex silver. (147 million/300.8 million)

 

i) Into CNT:: 600,586.820 oz

iii) Into Scotia: 544,651.540 oz

 

 

 

 

 

total customer deposits today: 1,180,058.380    oz

 

we had 3 withdrawals out of the customer account:

i) Out of CNT:  29,449.054  oz

ii) out of  Brinks:  310,545.600 oz

iii) Out of HSBC: 54,998.79 oz

 

 

 

 

 

 

 

total withdrawals: 394,983.444    oz

 

we had 1 adjustment

i) out of CNT:

14,383.500 oz was adjusted out of the customer CNT and this landed into the dealer account of CNT

total dealer silver:  94.718 million

total dealer + customer silver:  300.869 million oz

 

The total number of notices filed today for the MARCH 2019. contract month is represented by 14 contract(s) FOR  70,000  oz

To calculate the number of silver ounces that will stand for delivery in MAR, we take the total number of notices filed for the month so far at 4872 x 5,000 oz = 24,360,000 oz to which we add the difference between the open interest for the front month of MAR. (414) and the number of notices served upon today (14 x 5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the MAR/2019 contract month: 4872(notices served so far)x 5000 oz + OI for front month of MAR( 414) -number of notices served upon today (14)x 5000 oz equals 26,360,000 oz of silver standing for the MAR contract month.  This is a strong number of oz standing for an off delivery month.

We gained  14 contracts or an additional 70,000 oz will stand as bankers queue jumped in order to receive badly needed physical metal. The silver comex is in deep stress as this is the 8TH day in a row of a huge gain in silver oz standing. WE ALSO WITNESSED HUGE SHORT COVERING BY THE BANKERS AS THEY SEEM TO BE SCARED ABOUT SOMETHING!1

 

 

 

ON MARCH 1.2018 WE HAD 24.670 MILLION OZ OF SILVER STAND FOR DELIVERY. BY THE CONCLUSION OF THE DELIVERY MONTH, 27.190 MILLION OZ STOOD AS QUEUE JUMPING IN THE SILVER COMEX ARENA HAD BEEN THE NORM FOR QUITE A WHILE.

 

 

 

 

 

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TODAY’S SILVER VOLUME:  53,144 CONTRACTS

 

 

CONFIRMED VOLUME FOR YESTERDAY: 52,728 CONTRACTS…

 

 

 

 

YESTERDAY’S CONFIRMED VOLUME OF 52,728 CONTRACTS EQUATES to 263 million OZ  37.6% 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 RISES TO -2.96% (MAR12/2019)
2. Sprott gold fund (PHYS): premium to NAV FALLS TO -1.05% to NAV (MAR12/2019 )
Note: Sprott silver trust back into NEGATIVE territory at -2.96%-/Sprott physical gold trust is back into NEGATIVE/

(courtesy Sprott/GATA)

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

NAV 13.15/TRADING 12.80/DISCOUNT 2.64

END

And now the Gold inventory at the GLD/

MARCH 12/WITH GOLD UP $7.00: A HUGE DEPOSIT OF 2.94 TONNES OF GOLD INTO THE GLD INVENTORY/INVENTORY RESTS AT 769.53 TONNES

MARCH 11/WITH GOLD DOWN $8.00 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 766.59 TONNES

MARCH 8/WITH GOLD UP $13.40: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 766.59 TONNES

MARCH 7/WITH GOLD DOWN $1.40 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 766.59 TONNES

MARCH 6/WITH GOLD UP $3.30 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 766.59 TONNES

MARCH 5/WITH GOLD DOWN ONLY $1.70: A HUGE WITHDRAWAL OF 5.87 TONNES FROM THE GLD INVENTORY AND THIS GOLD HAS BEEN USED IN THE WHACKING PROCESS YESTERDAY AND TODAY/INVENTORY RESTS AT 766.59 TONNES

MARCH 4/WITH GOLD ANOTHER $12.50 TODAY: A HUGE WITHDRAWAL OF 11.76 TONNES FROM THE GLD INVENTORY//INVENTORY RESTS AT 772.46 TONNES

MAR 1/WITH GOLD DOWN $16.90 TODAY; A HUGE WITHDRAWAL OF 4.11 TONNES FROM THE GLD INVENTORY//INVENTORY RESTS AT 784.22 TONNES

FEB 28/WITH GOLD DOWN $4.80: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 788.33

FEB 27/WITH GOLD DOWN $6.80: NO CHANGE IN GOLD INVENTORY//INVENTORY RESTS AT 788.33 TONNES

FEB 26  WITH GOLD DOWN $1.10: A WITHDRAWAL OF 1.18 TONNES FROM THE GLD INVENTORY/INVENTORY RESTS AT 788.33

FEB 25/WITH GOLD DOWN $3.10: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 789.51 TONNES

 

FEB 22/WITH GOLD UP $5.15 A HUGE WITHDRAWAL OF 4.99 TONNES OF GOLD FROM THE GLD INVENTORY/INVENTORY RESTS AT 789.51 TONNES

FEB 21/WITH GOLD DOWN $19.50/ A SURPRISE GAIN (DEPOSIT) OF 2.05 TONNES INTO THE GLD INVENTORY/INVENTORY RESTS AT 794.50 TONNES

FEB 20/WITH GOLD UP $3.10 TODAY: SURPRISINGLY NO CHANGE IN GOLD INVENTORY/GLD INVENTORY RESTS AT 792.45 TONNES

FEB 19/WITH GOLD UP $22.95/ TWO TRANSACTIONS: A HUGE 3.82 TONNES OF GOLD WITHDRAWAL FROM THE GLD THIS MORNING AND THEN  0.58 TONNES THIS AFTERNOON///INVENTORY RESTS AT 792,45 TONNES. FROM FEB 1/2019 UNTIL TODAY, GOLD IS UP $24.25 AND YET GOLD WITHDRAWALS ARE A HUGE 31.42 TONNES/THIS IS CRIMINAL!!

FEB 15/WITH GOLD UP $8.00 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 796.85 TONNES

FEB 14//WITH GOLD DOWN $1.10: WE HAD ANOTHER PAPER RAID (WITHDRAWAL) OF 2.04 TONNES/INVENTORY RESTS AT 796.85 TONNES/

FEB 13:/WITH GOLD UP $1.40 TODAY: ANOTHER PAPER RAID BY OUR CROOKED BANKERS AS THEY WITHDREW ANOTHER 2.23 TONNES OF GOLD FROM THE GLD. INVENTORY RESTS AT 798.89 TONNES

FEB 12: WITH GOLD UP $2.20 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 802.12 TONNES

FEB 11/WITH GOLD DOWN $6.25 TODAY: ANOTHER PAPER WITHDRAWAL OF 1.17 TONNES OF GOLD AND THIS GOLD WAS USED TO WHACK OUR PRECIOUS METAL TODAY/INVENTORY RESTS AT 802.12 TONNES

FEB 8/WITH GOLD UP $4.00/THE CROOKS WITHDREW ANOTHER HUGE 6.59 TONNES OF PAPER GOLD AND THIS GOLD WAS USED TO CONTAIN THE PRICE OF GOLD/INVENTORY RESTS AT 803.29 TONNES

FEB 7/WITH GOLD UP 35 CENTS/ANOTHER PAPER GOLD WITHDRAWAL OF 2.06 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 809.76 TONNES

FEB 6/WITH GOLD DOWN $4.85 TODAY: A STRONG PAPER WITHDRAWAL OF 1.37 TONNES FROM THE GLD/INVENTORY RESTS AT 811.82 TONNES

FEB 5/WITH GOLD UP $.30 TODAY: A HUGE PAPER WITHDRAWAL OF 4.11 TONNES/INVENTORY RESTS AT 813.29 TONNES

FEB 4/WITH GOLD DOWN $2.65: TWO TRANSACTIONS: i)A MASSIVE WITHDRAWAL OF 8.37 TONNES OF PAPER GOLD WAS REMOVED FROM THE GLD AND THEN ii) a A STRONG DEPOSIT OF 2.00 TONNES/INVENTORY RESTS AT 817.40 TONNES

FEB 1/WITH GOLD DOWN $3.00 TODAY: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 823.87 TONNES

 

 

 

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MAR 12/2019/ Inventory rests tonight at 769.53 tonnes

*IN LAST 557 TRADING DAYS: 165.52 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 457 TRADING DAYS: A NET 1.30 TONNES HAVE NOW BEEN ADDED INTO THE GLD INVENTORY.

 

end

 

Now the SLV Inventory/

MARCH 12/WITH SILVER UP 14 CENTS TODAY: NO CHANGES IN SILVER INVENTORY/INVENTORY AT THE SLV RESTS AT 309.676 MILLION OZ////

MARCH 11/WITH SILVER DOWN 7 CENTS: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 516,000 OZ/INVENTORY RESTS AT 309.676 MILLION OZ///

MARCH 8/WITH SILVER UP 34 CENTS: STRANGE!! TWO TRANSACTIONS!!  IN THE MORNING A WITHDRAWAL OF 703,000 OZ FROM THE SLV/INVENTORY RESTS AT 307,800 OZ/ IN THE AFTERNOON: A DEPOSIT OF 1.56 MILLION OZ/INVENTORY FINALLY RESTS AT 309.160 MILLION OZ//

MARCH 7/WITH SILVER DOWN 4 CENTS: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 308.503 MILLION OZ//

MARCH 6/WITH SILVER DOWN 2 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 308.503 MILLION OZ

MARCH 5/WITH SILVER UP ONE CENT: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 308.503 MILLION OZ///

MARCH 4/WITH SILVER DOWN 14 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV; A WITHDRAWAL OF 871,000 OZ OF SILVER FROM THE SLV///INVENTORY RESTS AT 308.503 MILLION OZ/

MARCH 1/ WITH SILVER DOWN 38 CENTS/NO CHANGE IN SILVER INVENTORY

FEB 28/WITH SILVER DOWN 12 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 309.374

FEB 27/WITH SILVER DOWN 14 CENTS//A  SMALL CHANGE IN INVENTORY: A WITHDRAWAL OF 610,000 OZ//SLV INVENTORY RESTS AT 309.374 MILLION OZ/

FEB 26/WITH SILVER DOWN ONE CENT; NO CHANGE IN INVENTORY/RESTS AT 309.984

FEB 25./WITH SILVER DOWN 7 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 309.984 MILLION OZ/

FEB 22/WITH SILVER UP 7 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 309.984 MILLION OZ///

FEB 21/WITH SILVER DOWN 37 CENTS: SURPRISINGLY A DEPOSIT OF 1.688 MILLION OZ OF SILVER INVENTORY/ INTO THE SLV/INVENTORY RESTS AT 309.984 MILLION OZ///

FEB 20/WITH SILVER UP 19 CENTS AND ON A TEAR: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 308.296 MILLION OZ/

FEB 19/WITH SILVER UIP 25 CENTS TODAY: A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 938,000 OZ/INVENTORY RESTS AT 308.296 MILLION OZ/

FEB 15/WITH SILVER UP 19 CENTS: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 307.358 MILLION OZ/

FEB 14/WITH SILVER DOWN 11 CENTS: A DEPOSIT OF 423,000 OZ/INVENTORY RESTS AT 307.358 MILLION OZ

FEB 13/WITH SILVER DOWN 4 CENTS TODAY: ANOTHER BIG CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 938,000 OZ FROM THE SLV./INVENTORY RESTS AT 306.935 MILLION OZ/

FEB 12 WITH SILVER UP 3 CENTS TODAY:  NO CHANGE IN SILVER INVENTORY AT TH SLV/INVENTORY RESTS AT 307.873 MILLION OZ/

FEB 11/WITH SILVER DOWN 13 CENTS TODAY:A BIG CHANGE IN SILVER INVENTORY; A WITHDRAWAL OF 1.126 MILLION OZ FROM THE SLV INVENTORY/INVENTORY RESTS AT 307.873 MILLION OZ/

FEB 8/WITH SILVER UP 11 CENTS: ANOTHER WITHDRAWAL OF 657,000 OZ/INVENTORY RESTS AT 308.999  MILLION OZ/

FEB 7/WITH SILVER DOWN 1 CENT TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 309.656 MILLION OZ/

FEB 6/WITH SILVER DOWN 13 CENTS TODAY; A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 938,000  OZ/INVENTORY RESTS AT 309.656 MILLION OZ/

FEB 5/WITH SILVER DOWN 3 CENTS; NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 310.594 MILLION OZ.

FEB 4/WITH SILVER DOWN 4 CENTS: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 129,000 OZ TO PAY FOR FEES/.INVENTORY RESTS AT 310.594 MILLION OZ/

FEB 1/WITH SILVER DOWN 14 CENTS: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY  RESTS AT 310.723 MILLION OZ/

 

MAR 12/2019:

 

Inventory 309.676 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 2.17/ and libor 6 month duration 2.68

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

G0LD LENDING RATE: + .51

 

 

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12 Month MM GOFO
+ 2.47%

LIBOR FOR 12 MONTH DURATION: 2.87

GOFO = LIBOR – GOLD LENDING RATE

GOLD LENDING RATE  = +.40

end