The open interest for the upcoming February contract month remains extremely high at 130,026 with 3 days to go.
I cannot recall ever seeing such a high OI with 3 days remaining coupled with extremely low volume on the COMEX.
Something sinister is happening behind scenes in COMEX gold.
Submitted by Harvey Organ:
Good evening Ladies and Gentlemen:
Here are the following closes for gold and silver today:
Gold: $1291.70 up $12.30 (comex closing time)
Silver: $18.07 up 10 cents (comex closing time)
In the access market 5:15 pm
The gold shares rebounded sharply today as the bankers covered their massive shorts in the gold/silver equity shares. That is a sure sign that gold and silver will have a very strong day tomorrow. The crooks are controlling the precious metals market every minute of every trading day.
Gold/silver trading: see kitco charts on right side of the commentary.
The gold comex today had a poor delivery day, registering 0 notices served for nil oz. Silver comex registered 0 notices for nil oz.
Three months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 247.83 tonnes for a loss of 55 tonnes over that period.
In silver, the open interest rose again by 637 contracts despite Monday’s silver price being down by 7 cents. The total silver OI continues to remains relatively high with today’s reading at 162,448 contracts. It seems that the bankers are very worried about silver as they covered again some of their short positions with the rise in the price of silver. The January silver OI contract fell by 1 contract down to 7.
In gold we again had a large increase in OI with the decrease in price of gold on Monday to the tune of $13.20 The total comex gold OI rests tonight at 454,556 for a gain of 5443 contracts. The bankers continue to supply the non backed paper with reckless abandon.
The January gold contract fell by 20 contracts down to 16 contracts.
The open interest for the upcoming February contract month remains extremely high at 130,026 with 3 days to go. I cannot recall ever seeing such a high OI with 3 days remaining coupled with extremely low volume on the comex. Something sinister is happening behind the gold scene at the comex.
Today, we had another huge addition of 9.26 tonnes of gold inventory at the GLD/Inventory at 752.70 tonnes
In silver, /SLV inventory remains constant at 319.314 million oz
We have a few important stories to bring to your attention today…
Let’s head immediately to see the major data points for today
First: GOFO rates:
All rates moved in the positive direction GOFO/ All months are in contango and thus positive in rates.
On January 30/2015 the LBMA will officially stop providing the GOFO rates.
Jan 27 2015
+.09% +0955% +.105% +.1225% .165%
Jan 26 2014:
+.09% +.0875% +.095 % +.1125% +.155%
Let us now head over to the comex and assess trading over there today.
Here are today’s comex results:
The total gold comex open interest rose today by a rather large 5,443 contracts from 449,113 up to 454,556 with gold down by $13.20 on yesterday (at the comex close). We are now onto the January contract month. The non active January contract month saw it’s OI contracts fall by 20 contracts down to 16. We had 0 contracts served yesterday. Thus we lost 20 gold contracts or an additional 2000 oz will not stand for delivery in this January contract month. The next big delivery month is February and here the OI fell by 25,272 contracts from 155,298 contracts all the way down to 130,026, with most of these guys moving to April. First day notice is Friday Jan 30.2014 or 3 days away. The estimated volume today was poor at 140,672. The confirmed volume yesterday was fair at 240,500 contracts. Today we had 0 notices filed for nil oz .
And now for the wild silver comex results. Silver OI rose by 637 contracts from 161,811 all the way up to 162,448 as silver was down by 7 cents yesterday. We thus had considerable shortcovering from the banking sector again today especially when you compare gold to silver OI. The front January contract month saw its OI fall to 7 contracts for a loss of 1 contract. We had 0 notices filed yesterday, so we lost 1 silver contract or 5,000 additional ounces will not stand for silver in the January contract month. The next big contract month is March and here the OI fell by 200 contracts down to 103,059. The estimated volume today was poor at 19,692. The confirmed volume yesterday was good at 39,278. We had 0 notices filed for 5,000 oz today. The rise in the price of silver is certainly scaring our bankers.
January initial standings
|Withdrawals from Dealers Inventory in oz||nil oz|
|Withdrawals from Customer Inventory in oz||nil oz|
|Deposits to the Dealer Inventory in oz||nil oz|
|Deposits to the Customer Inventory, in oz||nil oz|
|No of oz served (contracts) today||0 contracts(nil oz)|
|No of oz to be served (notices)||16 contracts (1600 oz)|
|Total monthly oz gold served (contracts) so far this month||74 contracts(7400 oz)|
|Total accumulative withdrawals of gold from the Dealers inventory this month|
Total accumulative withdrawal of gold from the Customer inventory this month
Today, we had 1 dealer transactions
we had 0 dealer withdrawals:
total dealer withdrawal: nil oz
we had 0 dealer deposits:
total dealer deposit: nil oz
we had 0 customer withdrawal
total customer withdrawal: nil oz
we had 0 customer deposit:
total customer deposits; nil oz
We had 0 adjustments
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 were stopped (received) by JPMorgan dealer and 0 notices were stopped (received) by JPMorgan customer account.
To calculate the total number of gold ounces standing for the December contract month, we take the total number of notices filed for the month (74) x 100 oz or 7400 oz to which we add the difference between the January OI (16) minus the number of notices served upon today (0) x 100 oz = 9,000 oz , the amount of gold oz standing for the January contract month. (0.2799 tonnes of gold)
Thus the initial standings:
74 (notices filed for the month x 100 oz) +OI for January (16) – 0 (no. of notices served upon today) = 9,000 oz (0.2799 tonnes)
we lost 2000 oz standing in this January gold delivery month.(which makes no sense late in the delivery cycle.
Total dealer inventory: 773,086.941 oz or 24.04 tonnes
Total gold inventory (dealer and customer) = 7.968 million oz. (247.83) tonnes)
Several weeks ago we had total gold inventory of 303 tonnes, so during this short time period 55 tonnes have been net transferred out. We will be watching this closely!
This initializes the month of January for gold.
And now for silver
Jan 27 2015:
January silver: initial standings
|Withdrawals from Dealers Inventory||nil oz|
|Withdrawals from Customer Inventory||38,469.43 oz(CNT,Delaware,HSBC)|
|Deposits to the Dealer Inventory||nil|
|Deposits to the Customer Inventory||702,409.510 oz (CNT,Delaware)|
|No of oz served (contracts)||0 contracts (nil oz)|
|No of oz to be served (notices)||7 contracts (35,000 oz)|
|Total monthly oz silver served (contracts)||436 contracts (2,180,000 oz)|
|Total accumulative withdrawal of silver from the Dealers inventory this month|
|Total accumulative withdrawal of silver from the Customer inventory this month||6,493,376.5 oz|
Today, we had 0 deposit into the dealer account:
total dealer deposit: nil oz
we had 0 dealer withdrawal:
total dealer withdrawal: nil oz
We had 1 customer deposit:
i) Into CNT: 697,393.46 oz
total customer deposit 697.393/46 oz
We had 3 customer withdrawals:
i) Out of CNT: 5,262.98 oz
ii) Out of Delaware: 3019.15 oz
iii) Out of HSBC: 30,187.299 oz
total customer withdrawal: 38,469.43 oz
we had 0 adjustment
Total dealer inventory: 66.613 million oz
Total of all silver inventory (dealer and customer) 177.654 million oz.
The total number of notices filed today is represented by 0 contracts for nil oz. To calculate the number of silver ounces that will stand for delivery in December, we take the total number of notices filed for the month (436) x 5,000 oz to which we add the difference between the OI for the front month of January (7) – the Number of notices served upon today (0) x 5,000 oz = 2,215,000 oz the number of ounces standing so far for the January delivery month.
Initial standings for silver for the January contract month:
436 contracts x 5000 oz= 2,180,000 oz +OI standing so far in January ( 7)- no. of notices served upon today(0) x 5,000 oz equals 2,210,000 ounces standing for the January contract month.
we lost 5,000 additional silver ounces standing in this January delivery month.
The two ETF’s that I follow are the GLD and SLV. You must be very careful in trading these vehicles as these funds do not have any beneficial gold or silver behind them. They probably have only paper claims and when the dust settles, on a collapse, there will be countless class action lawsuits trying to recover your lost investment.
There is now evidence that the GLD and SLV are paper settling on the comex.
***I do not think that the GLD will head to zero as we still have some GLD shareholders who think that gold is the right vehicle to be in even though they do not understand the difference between paper gold and physical gold. I can visualize demand coming to the buyers side:
i) demand from paper gold shareholders
ii) demand from the bankers who then redeem for gold to send this gold onto China
vs no sellers of GLD paper.
And now the Gold inventory at the GLD:
Jan 27.we had a monstrous “paper” addition of 9.26 tonnes of gold into the GLD tonight/Inventory at 952.44 tonnes
Jan 26.2015: another volatile day as they added 1.79 tonnes/743.44 tonnes of gold.
Jan 23/the action at the GLD is very volatile: today they added 1.20 tonnes of gold to their inventory/Inventory 741.65
Jan 22 no change in gold inventory at the GLD/Inventory 740.45 tonnes
Jan 21.2015: Tonight, we lost 1.79 tonnes of gold from the GLD/Inventory 740.45 tonnes
Late Friday night, we had another addition of 13.74 tonnes of gold on top of the earlier amount of 9.56 tonnes which were added to inventory.
Tonight another 11.45 tonnes was added to inventory
Thus so far inventory rests at 742.24 tonnes of gold.
There is no chance that these guys could have assembled 34.65 tonnes over the weekend. The addition is nothing but a paper entry!! No real physical has been received.
Jan 16.2015 we had a huge addition of 9.56 tonnes of gold into the GLD/New inventory 717.15 tonnes. (where on earth did they obtain that quantity of physical gold??)
Jan 15/ no change in inventory at the GLD today/inventory 707.59 tonnes
Jan 14.2015 we had a small withdrawal of .23 tonnes of gold from the GLD/inventory 707.59 tonnes
Jan 13.2015 no change in gold inventory/GLD inventory tonight at 707.82 tonnes
Jan 12 no change in gold inventory/GLD inventory tonight at 707.82 tonnes
, Jan 27/2015 / we add an addition of 9.26 tonnes to inventory at the GLD
inventory: 752.44 tonnes.
The registered vaults at the GLD will eventually become a crime scene as real physical gold departs for eastern shores leaving behind paper obligations to the remaining shareholders. There is no doubt in my mind that GLD has nowhere near the gold that say they have and this will eventually lead to the default at the LBMA and then onto the comex in a heartbeat (same banks).
GLD : 752.44 tonnes.
And now for silver (SLV):
Jan 27/no change in silver inventory/SLV inventory at 319.314 million oz
Jan 26.2015: no change in silver inventory/SLV inventory at 319.314 million oz
jan 23/2015/ a huge addition of 1.053 million oz. This entity is also being quite volatile/Inventory at SLV 319.314 million oz.
Jan 22 a huge reduction of 6.75 million oz/Inventory at 318.261 million oz
Jan 21 no change in silver inventory/Inventory at 325.011 million oz
Jan 20.2015: no change in silver inventory so far tonight/Inventory at 325.011 million oz
Jan 16.2015: we had another withdrawal of 1.34 million oz of silver inventory/Inventory 325.011 million oz
(something is up!!)
Jan 15.2015 we had a huge withdrawal of 1.628 million oz/Inventory 326.391 million oz
Jan 15.2015: no change in silver inventory/327.979 million oz
Jan 13.2015 no change in silver inventory/327.979 million oz/
Jan 12.2015 we had a huge withdrawal of 1.915 million at the SLV/inventory at 327.979 million oz.
Jan 27/2015 no change in silver inventory
registers: 319.314 million oz
And now for our premiums to NAV for the funds I follow:
Note: Sprott silver fund now for the first time into the negative to NAV
Sprott and Central Fund of Canada.
(both of these funds have 100% physical metal behind them and unencumbered and I can vouch for that)
BIG CHANGES (NAV’s becoming less negative for CEF)
1. Central Fund of Canada: traded at Negative 4.1% percent to NAV in usa funds and Negative 3.9 % to NAV for Cdn funds!!!!!!!
Percentage of fund in gold 61.1%
Percentage of fund in silver:38.5%
( Jan 27/2015)
2. Sprott silver fund (PSLV): Premium to NAV rises to + 2.49%!!!!! NAV (Jan 27/2015)
3. Sprott gold fund (PHYS): premium to NAV rises to +.23% to NAV(Jan 27/2015)
Note: Sprott silver trust back into positive territory at +2.49%.
Sprott physical gold trust is back in positive territory at +.23%
Central fund of Canada’s is still in jail.