Harvey Organ: There Is Now A Perfect Correlation Between The Gold Price And The Chinese Yuan

Harvey says gold fell a little on Friday because of the perfect correlation in the gold price with the yuan. Here’s the details…

by Harvey Organ of Harvey Organ Blog

JULY 27/GOLD DOWN $2.85 TO $123.55/SILVER FLAT AT $15.48/THE LONG AWAITED FIRST ESTIMATE OF 2ND QUARTER GDP CAME IN AT 4.1% BELOW CONSENSUS/CHINESE YUAN CONTINUES TO FALTER SENDING GOLD DOWN A BIT AS THERE IS A PERFECT CORRELATION BETWEEN THE TWO/MORE SWAMP STORIES FOR YOU TONIGHT/

GOLD: $1223.55  DOWN  $2.85 (COMEX TO COMEX CLOSINGS)

Silver:   $15.48      DOWN 0 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1223.45

silver: $15.49

 

 

 

For comex gold:

JULY/

NUMBER OF NOTICES FILED TODAY FOR JULY CONTRACT:0 NOTICE(S) FOR nil oz

TOTAL NOTICES SO FAR 99 FOR 9900 OZ (0.3079 tonnes)

For silver:

JULY

97 NOTICE(S) FILED TODAY FOR

485,000 OZ/

Total number of notices filed so far this month: 5978 for 29,890,000 oz

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Bitcoin: BID $7938/OFFER $8023: UP  $59(morning)

Bitcoin: BID/ $8171/offer $8256: UP $292  (CLOSING/5 PM)

end

First Shanghai gold fix comes at 10 pm est

The second Shanghai gold fix:  2:15 pm

First Shanghai gold fix gold: 10 pm est: 1225.31

NY price  at the same time: 1223.44

PREMIUM TO NY SPOT: $1.87

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Second gold fix early this morning: 1224.06

USA gold at the exact same time:1224.05

PREMIUM TO NY SPOT:  $0.01

China is controlling the gold market

WE WILL NOT PROVIDE LONDON FIXES AS THEY ARE NOT ACCURATE AS TO WHAT IS GOING ON AT THE SAME TIME FRAME.

Let us have a look at the data for today

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In silver, the total OPEN INTEREST ROSE BY A SMALL SIZED 688 CONTRACTS FROM 217,308 UP TO 217,996 DESPITE YESTERDAY’S 10  LOSS IN SILVER PRICING. WE HAVE NOW WITNESSED A SLOW COMEX ACCUMULATION THESE PAST SEVERAL DAYS.  ON TOP OF THIS WE HAVE ALSO WITNESSED A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY(JUST UNDER 30 MILLION OZ AT THE COMEX) AS WELL AS 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: 307 EFP’S FOR SEPT. , 0 EFP’S FOR DECEMBER AND ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE: OF 307 CONTRACTS. WITH THE TRANSFER OF 646 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 307 EFP CONTRACTS TRANSLATES INTO 1.535 MILLION OZ AND ACCOMPANYING:

1.THE 10 CENT LOSS  IN  SILVER PRICE AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR THE JUNE/2018 COMEX DELIVERY MONTH. (5.420 MILLION OZ)   AND NOW JULY/ 2018 WITH 29.965 MILLION OZ INITIALLY STANDING FOR DELIVERY(SEE DATA BELOW).

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

33,151 CONTRACTS (FOR 19 TRADING DAYS TOTAL 33,151 CONTRACTS) OR 165.76 MILLION OZ: (AVERAGE PER DAY: 1894 CONTRACTS OR 9.470 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF JULY:  165.76 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 23.68% 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:           1,8205.47    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

RESULT: WE HAD A SMALL SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 688 DESPITE THE 10 CENT GAIN IN SILVER PRICING AT THE COMEX YESTERDAY. THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 307 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) . FROM THE CME DATA:  307 EFP’S FOR SEPT, 0 EFP’S FOR DECEMBER AND ZERO FOR ALL OVER MONTHS FOR  A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS (TOTAL: 307). TODAY WE GAINED A SMALL SIZED: 995 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:

i.e 307 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH AN INCREASE OF  2867  OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 10 CENT LOSS IN PRICE OF SILVER  AND A CLOSING PRICE OF $15.48 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A GIGANTIC AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY IN THIS  ACTIVE JULY DELIVERY MONTH OF SLIGHTLY LESS THAN 30 MILLION OZ. IT SURE LOOKS LIKE ANOTHER FAILED BANKER SHORT COVERING EXERCISE AS BANKERS ARE SCRAMBLING TO COVER THEIR HUGE SHORTFALL.

In ounces AT THE COMEX, the OI is still represented by OVER 1 BILLION oz i.e. 1.078 MILLION OZ TO BE EXACT or 154% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JULY MONTH/ THEY FILED AT THE COMEX: 97 NOTICE(S) FOR 485,000 OZ OF SILVER

IN SILVER, WE  SET THE NEW 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

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) AND NOW JULY 2018 AMOUNT INITIALLY STANDING: 29.965 MILLION OZ   )
  2. HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018
  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 FELL  BY A HUMONGOUS SIZED 14,443 CONTRACTS DOWN TO 485,701 WITH THE FALL IN THE COMEX GOLD PRICE/YESTERDAY’S TRADING (A LOSS IN PRICE OF $5.65). GENERALLY WE SEE COMEX LIQUIDATION WHEN WE ARE ENTERING THE LAST DAYS IN  THIS ACTIVE DELIVERY MONTH OF JULY AND IT SURELY HAPPENED YESTERDAY.  WE GENERALLY SEE THE BOYS CASHING IN THEIR COMEX LONGS TO BEGIN THE PROCESS TO MOVE INTO LONDON FORWARDS. THIS PROCEDURE HAS BEEN GOING ON NOW FOR OVER 2 AND 1/2 YEARS. THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A FAIR SIZED 9514 CONTRACTS :  AUGUST SAW THE ISSUANCE OF:  7764 CONTRACTS, OCTOBER SAW THE ISSUANCE OF 0 CONTRACTS AND DECEMBER HAD AN ISSUANCE OF 1750 CONTACTS  AND THEN ALL OTHER MONTHS ZERO.  The new COMEX OI for the gold complex rests at 485,701. 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 STRONG OI LOSS IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 4929 CONTRACTS:  14,443 OI CONTRACTS  DECREASED AT THE COMEX AND 9514 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI LOSS:  4929 CONTRACTS OR 492,900 OZ = 15.33 TONNES.  AND ALL OF THIS LOSS IN  DEMAND OCCURRED WITH THE FALL IN THE PRICE OF GOLD/ YESTERDAY TO THE TUNE OF $5.65.

 

YESTERDAY, WE HAD 7330 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JUNE : 179,171 CONTRACTS OR 17,917,100  OZ OR 557.29 TONNES (19 TRADING DAYS AND THUS AVERAGING: 9430 EFP CONTRACTS PER TRADING DAY OR 943,000 OZ/ TRADING DAY),,

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 19 TRADING DAYS IN  TONNES: 557.29 TONNES

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

THUS EFP TRANSFERS REPRESENTS 557.20/2550 x 100% TONNES =  21,85% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JULY ALONE.***

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:     4,660.11*  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)

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 GOOD SIZED DECREASE IN OI AT THE COMEX OF 14,443 DESPITE THE LOSS IN PRICING ($5.65  THAT GOLD UNDERTOOK YESTERDAY) // .  WE ALSO HAD A FAIR SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 9514 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 9514 EFP CONTRACTS ISSUED, WE HAD A VERY STRONG NET LOSS OF 4929 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES:

9514 CONTRACTS MOVE TO LONDON AND 14,443 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the LOSS in total oi equates to 15.33 TONNES). ..AND THIS LOSS IN DEMAND OCCURRED WITH THE LOSS OF $5.65 IN YESTERDAY’S TRADING AT THE COMEX!!!.

 

we had: notice(s) filed upon for NIL 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$2.85  TODAY: /

NO CHANGES IN GOLD INVENTORY AT THE GLD

 

 

 

/GLD INVENTORY 800.20 TONNES

Inventory rests tonight: 800.20 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 FLATTODAY :

NO CHANGE IN SILVER INVENTORY TONIGHT

 

 

 

 

 

 

 

/INVENTORY RESTS AT 329.433 MILLION OZ/

NOTE THE DIFFERENCE BETWEEN THE GLD AND SLV: THE CROOKS CAN RAID GOLD BECAUSE THEY DO HAVE SOME PHYSICAL.  THEY DO NOT RAID SILVER PROBABLY BECAUSE THERE IS NO REAL SILVER INVENTORIES BEHIND THEM

Let us head over to the comex:

The total gold comex open interest FELL BY A HUMONGOUS SIZED 14,443 CONTRACTS DOWN to an OI level 485,791 WITH THE FALL IN THE PRICE OF GOLD ($5.65 LOSS/ YESTERDAY’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.THE CROOKS DID NOT DISAPPOINT US AS THE ENTIRE GOLD COMEX OI COLLAPSED YESTERDAY. WE ARE APPROACHING THE STRONG DELIVERY MONTH OF AUGUST.  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 9514 EFP CONTRACTS WERE ISSUED:

FOR AUGUST 7764 CONTRACTS,OCTOBER WAS ISSUED 0 CONTRACTS AND DECEMBER ISSUANCE OF 1750, AND ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE:  9514 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 LOST THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A STRONG 4,929 OI TOTAL CONTRACTS IN THAT 9514 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST 14,443 COMEX CONTRACTS.

NET LOSS ON THE TWO EXCHANGES:  4929 contracts OR 492,900  OZ OR 415.33 TONNES.

Result: A  HUMONGOUS SIZED DECREASE IN COMEX OPEN INTEREST WITH THE FALL IN PRICE/YESTERDAY (ENDING UP WITH A DROP IN PRICE OF $5.65). THE  TOTAL OPEN INTEREST LOSS ON THE TWO EXCHANGES:  4929 OI CONTRACTS..

We have now entered the non-active contract month of JULY where we LOST 1 CONTRACT TO STAND AT 135. CONTRACTS. WE HAD 0 NOTICES FILED YESTERDAY SO WE LOST 1 CONTRACT OR AN ADDITIONAL 100 OZ OF GOLD WILL NOT STAND AT THE COMEX AS THIS GOLD INVESTOR MORPHED INTO LONDON BASED FORWARDS AND RECEIVED A SWEETENER FIAT FOR HIS EFFORTS.

AFTER JULY COMES THE ACTIVE AUGUST CONTRACT MONTH AND HERE THE OI LOST  44,505 CONTRACTS DOWN TO 86,210 CONTRACTS.   AFTER AUGUST, SEPTEMBER GAINED 459 CONTRACTS AND THUS RISES TO 1651 CONTRACTS. THE NEXT ACTIVE DELIVERY MONTH IS OCTOBER AND HERE THE OI ROSE BY 8988 CONTRACTS UP TO 46,2173 CONTRACTS.

WE HAD 0 NOTICE FILED AT THE COMEX FOR NIL OZ.

 

ON FIRST DAY NOTICE FOR THE JULY/2017 COMEX GOLD CONTRACT WE HAD A TINY 14,600 OZ OF GOLD (.4544 TONNES) INITIALLY STAND FOR DELIVERY.  BY MONTH END JULY/2017 WE HAD SOME QUEUE JUMPING AND THE FINAL NUMBER STANDING:  17,600 OZ OR .5974 TONNES. THUS WE HAVE ALREADY SURPASSED LAST YEAR WITH TODAY’S TOTAL AS 23,500 OZ ARE STANDING (.7309 TONNES). see data below

FOR COMPARISON FOR THE UPCOMING AUGUST 2017 GOLD COMEX CONTRACT MONTH:

A)AT THIS STAGE IN THE DELIVERY CYCLE/JULY 25/2017 WE HAD 33,181 CONTRACTS O/S VS TODAY: 86,210,

THERE ARE 2 READING DAYS LEFT BEFORE FIRST DAY NOTICE AUGUST 2018 CONTACT MONTH AND THIS COMPARES WITH 1 TRADING DAY IN COMPARISON TO THE AUGUST 2017 YEAR.

(SO WE ARE GOING TO HAVE A HUMDINGER OF A FIRST DAY NOTICE AUGUST CONTRACT MONTH WITH A MASSIVE AMOUNT OF LONGS STANDING FOR DELIVERY)

B) INITIALLY WE HAD A GOOD 831,100 OZ (25.88 TONNES) STAND FOR DELIVERY ON FIRST DAY NOTICE JULY 31.2017 FOR THE AUGUST CONTRACT MONTH

C) AT MONTH’S END, AUGUST 30 WE HAD 524,500 OZ OR 16.33 TONNES STAND FOR DELIVERY AS WE HAD CONSIDERABLE TRANSFERS TO LONDON VIA THE EFP’S

 

 

Trading Volumes on the COMEX

PRELIMINARY COMEX VOLUME FOR TODAY: 398,818  contracts

 

CONFIRMED COMEX VOL. FOR YESTERDAY:  416,109 contracts

 

 

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And now for the wild silver comex results.

Total silver OI FELL BY A CONSIDERABLE SIZED 688 CONTRACTS FROM 217,308 UP TO 217,996 (AND A LITTLE CLOSER TO THE  THE NEW RECORD OI FOR SILVER SET APRIL 9.2018/ 243,411 CONTRACTS) DESPITE THE SMALL 10 CENT LOSS IN SILVER PRICING/ YESTERDAY. SINCE WE ARE NOW INTO THE  ACTIVE DELIVERY MONTH OF JULY, WE WERE  INFORMED THAT WE HAD A SMALL SIZED 307 EFPCONTRACTS FOR SEPT., 0 EFP CONTRACTS FOR DECEMBER 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: 307.  ON A NET BASIS WE GAINED 995 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED  688 CONTRACT GAIN AT THE COMEX COMBINING WITH THE ADDITION OF 307 OI CONTRACTS NAVIGATING OVER TO LONDON.

NET GAIN ON THE TWO EXCHANGES:  995 CONTRACTS

AMOUNT STANDING FOR SILVER AT THE COMEX

We are now in the active delivery month of JULY and here the front month FELL by 132 contacts to stand at 112 contracts.  We had 153 notices filed yesterday so we GAINED 21 contracts or an additional 105,000 oz refused to morph into London based forwards and  receive a fiat bonus for their efforts.

 

 

The next delivery month, after July is the non active delivery month of August and here we lost 97 contracts  to stand at 805. The next active delivery month after August for silver is September and here the OI ROSE by 348 contracts UP to 157,724

We had 97 notice(s) filed for 485,000 OZ for the JULY 2018 COMEX contract for silver

 

FROM LAST YEARS DATA, ON FIRST DATE NOTICE FOR THE JULY 2017  SILVER COMEX DELIVERY MONTH WE HAD 12.115 MILLION OZ OF SILVER STANDING FOR DELIVERY.  AT MONTH’S END WE HAD 16.435 MILLION OZ EVENTUALLY STAND AS WE ALREADY HAD QUEUE JUMPING BEGIN IN EARNEST FROM APRIL 2017 ONWARD EVEN TO TODAY.  SO WITH TODAY’S NUMBERS WE SURPASSED LAST YEAR’S LEVEL BY A WIDE MARGIN.

AND NOW COMPARISON VS AUGUST LAST YR:

 

ON FIRST DAY NOTICE JULY 31/2017:  1,965,000 OZ STOOD FOR DELIVERY

THE FINAL AMOUNT OF SILVER STANDING:  AUGUST 30.2017: 6,245,000 OZ AS WE HAD CONSIDERABLE QUEUE JUMPING.

 

FOR THE AUGUST CONTRACT MONTH:

LAST YEAR AT THIS TIME JULY 26.2017 WE HAD 394 SILVER COMEX OI OUTSTANDING VS TODAY: 805

SO, AS IN GOLD, WE ARE GOING TO HAVE A CONSIDERABLY LARGER AMOUNT OF SILVER STANDING FOR THE NON ACTIVE CONTRACT MONTH OF AUGUST THAN LAST YEAR.

 

 

INITIAL standings for JULY/GOLD

JULY 27/2018.

we have a tiny pulse today, BUT zero gold enters the comex
we had 2 kilobar transaction/
We had 0 inventory movement at the dealer accounts
total inventory deposit into the dealer accounts:  NIL  oz
total inventory withdrawals out of dealer accounts; nil oz
we had 1 withdrawals out of the customer account:
i) Out of Brinks:  192.90 oz (6 kilobars)
total customer withdrawals:  192.90  oz
we had 0 customer deposit
total customer deposits: nil oz
we had 1 adjustment
i) out of JPMorgan:  13,020.750 oz  (405 kilobars)…suspect!!

For JULY:

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 0 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.

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To calculate the INITIAL total number of gold ounces standing for the JULY. contract month, we take the total number of notices filed so far for the month (99) x 100 oz or 9900 oz, to which we add the difference between the open interest for the front month of JULY. (135 contracts) minus the number of notices served upon today (0 x 100 oz per contract) equals 23,400 oz,(.7278 tonnes) the number of ounces standing in this non active month of JULY

 

Thus the INITIAL standings for gold for the JULY contract month:

No of notices served (99 x 100 oz)  + {(135)OI for the front month minus the number of notices served upon today (0 x 100 oz )which equals 23,400 oz standing in this NON – active delivery month of JULY .

We lost 0 contracts or an additional NIL oz will stand for comex delivery

 

 

FOR THE INITIAL COMEX JULY 2018 CONTRACT MONTH: AMOUNT STANDING

23,500 OZ VS LAST YEAR’S INITIAL STANDING: 14,600 OZ

 

THERE ARE ONLY 7.8648 TONNES OF REGISTERED COMEX GOLD AVAILABLE FOR DELIVERY AGAINST 0.7278 TONNES STANDING FOR JULY  

 

total registered or dealer gold:  252,854.765 oz or 7.8648 tonnes
total registered and eligible (customer) gold;   8,661,381.883 oz 269,39 tonnes

IN THE LAST 24 MONTHS 85 NET TONNES HAS LEFT THE COMEX.

end

And now for silver

AND NOW THE APRIL DELIVERY MONTH

JULY INITIAL standings/SILVER

 

we had 0 inventory movement at the dealer side of things

 

 

 

total dealer deposits: nil oz

total dealer withdrawals: nil oz

we had 0 deposit into the customer account

i) Into JPMorgan: nil oz

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

JPMorgan now has 143 million oz of  total silver inventory or 51.0% of all official comex silver. (143 million/280 million)

ii) into  everybody else;   0oz

 

 

 

 

total customer deposits today: nil oz

we had  2 withdrawals from the customer account;

i) Out of CNT:  50,527.689 oz

ii) Out of Scotia: 40,480.690 oz

 

 

total withdrawals:  91,008.379 oz

we had 0  adjustment/

 

 

total dealer silver:  78.645 million

total dealer + customer silver:  281.862 million oz

The total number of notices filed today for the JULY. contract month is represented by 97 contract(s) FOR 485,000 oz. To calculate the number of silver ounces that will stand for delivery in JULY., we take the total number of notices filed for the month so far at 5978 x 5,000 oz = 29,890,000 oz to which we add the difference between the open interest for the front month of JULY. (112) and the number of notices served upon today (97 x 5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the JULY/2018 contract month: 5978(notices served so far)x 5000 oz + OI for front month of JULY(112) -number of notices served upon today (97)x 5000 oz equals 29,965,000 oz of silver standing for the JULY contract month

WE GAINED 8 CONTRACTS OR AN ADDITIONAL 40,000 OZ WILL STAND AS THESE GUYS REFUSED TO

MORPH INTO LONDON BASED FORWARDS AND RECEIVE A FIAT SWEETENER FOR THEIR EFFORTS.

PLEASE NOTE THE FOLLOWING FOR COMPARISON PURPOSES:

THE INITIAL STANDING FOR SILVER AT THE COMEX JULY 2017: 12.115 MILLION OZ ALTHOUGH AT MONTH’S END: 16.435 MILLION OZ STOOD FOR DELIVERY. THIS COMPARES WITH TODAY’S INITIAL STANDING FOR SILVER OF 29.965 MILLION OZ.

 

 

 

 

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ESTIMATED VOLUME FOR TODAY:59,824 CONTRACTS

CONFIRMED VOLUME FOR YESTERDAY: 60,727 CONTRACTS  absolutely criminal

YESTERDAY’S CONFIRMED VOLUME OF 60,727 CONTRACTS EQUATES TO 303 million OZ  OR 43.3% 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 -2.84% (JULY 27/2018)
2. Sprott gold fund (PHYS): premium to NAV RISES TO -0.89% to NAV (JULY 27/2018 )
Note: Sprott silver trust back into NEGATIVE territory at -2.84%-/Sprott physical gold trust is back into NEGATIVE/

(courtesy Sprott/GATA)

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

NAV 12.67/TRADING 12.24//DISCOUNT 3.51.

END

And now the Gold inventory at the GLD/

july  27/WITH GOLD DOWN $2.85 TODAY, NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 800.20 TONNES

JULY 26./WITH GOLD DOWN $5.65: A WITHDRAWAL OF 2.35 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 800.20 TONNES

JULY 25/WITH GOLD UP $6.45; NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 802.55 TONNES

JULY 24/ WITH GOLD DOWN 10 CENTS: A HUGE DEPOSIT OF 4.42 TONNES INTO THE GLD/INVENTORY RESTS AT 802.55 TONNES

JULY 23/WITH GOLD DOWN $5.55: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 798.13 TONNES

JULY 20/WITH GOLD UP $4.15 A HUGE DEPOSIT OF 4.12 TONNES OF GOLD INTO THE GLD.INVENTORY RESTS AT 798.13 TONNES

JULY 19./WITH GOLD DOWN $1.00: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 794.01 TONNES

JULY 18/WITH GOLD UP 0.40: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 794.01 TONNES

JULY 17/WITH GOLD DOWN $12.40, WE HAD A BIG WITHDRAWAL OF 1.18 TONNES FROM THE GLD/INVENTORY RESTS AT 794.01 TONNES

JULY 16/WITH GOLD DOWN $1.55/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 795.19 TONNES

JULY 13/WITH GOLD DOWN $5.35 THE CROOKS RAID THE COOKIE JAR AGAIN TO THE TUNE OF 3.83 TONNES/INVENTORY RESTS AT 795.19 TONNES

JULY 12/WITH GOLD UP $2.30: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 799.02 TONNES

JULY 11/WITH GOLD DOWN $10.75 THE CROOKS RAIDED THE COOKIE JAR AGAIN TO THE TUNE OF 1.75 TONNES/INVENTORY RESTS AT 799.02 TONNES

JULY 10/WITH GOLD DOWN $3.85: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 800.77 TONNES

july 9/WITH GOLD UP $4.00/ANOTHER RAID ON THE GOLD COOKIE JAR: TWO WITHDRAWALS OF 1.18 TONNES THIS MORNING AND 1.47 TONNES THIS AFTERNOON/INVENTORY RESTS AT 800.77 TONNES

JULY 6/WITH GOLD DOWN $2.45: NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 803.42 TONNES

JULY 5/WITH GOLD UP ANOTHER $5.15, THE CROOKS RAIDED THE COOKIE JAR AGAIN TO THE TUNE OF 5.89 TONNES/INVENTORY RESTS AT 803.42 TONNES IN THE LAST 10 TRADING DAYS GLD HAS LOST A HUGE 25.34 TONNES WITH A LOSS OF ONLY $15.25 IN PRICE

July 3/WITH GOLD UP $11.15/THE CROOKS RAIDED THE GLD INVENTORY AGAIN TO THE TUNE OF 9.73 TONNES/INVENTORY RESTS AT 809.31 TONNES

JULY 2/WITH GOLD DOWN $12.15, THE CROOKS RAIDED THE GLD INVENTORY AGAIN BY 1.47 TONNES DOWN./INVENTORY RESTS AT 819.04 TONNES

JUNE 29/WITH GOLD UP $3.70/A WITHDRAWAL OF 1.18 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 820.51 TONNES

JUNE 28/WITH GOLD DOWN $5.15/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 821.69 TONNES

June 27/WITH GOLD DOWN $3.60// TWO ENTRIES:/STRANGELY THE CROOKS RETURNED THE WITHDRAWAL OF 4.42 TONNES LAST NIGHT (THUS WE HAD A DEPOSIT OF 4.42 TONNES/INVENTORY RESTS AT 824.63 TONNES. /THEN LATE THIS AFTERNOON A WITHDRAWAL OF 2.94 TONNES

INVENTORY RESTS AT 821.69 TONNES/THIS VEHICLE IS AN OUTRIGHT FRAUD.

june 26/LATE LAST NIGHT, WITH GOLD DOWN $9.10 WE HAD A HUGE WITHDRAWAL OF 4.42 TONNES OF GOLD/INVENTORY RESTS AT 820.21 TONES

JUNE 25/WITH GOLD DOWN $1.45/NO CHANGE IN GOLD INVENTORY AT THE GLD.INVENTORY RESTS AT 824.63 TONNES

JUNE 22/WITH GOLD UP 25 CENTS TODAY, THE CROOKS WITHDREW A MASSIVE 4.13 TONNES OF GOLD/INVENTORY RESTS AT 824.63 TONNES

JUNE 21/WITH GOLD DOWN $4.00/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.76 TONNES

JUNE 20/WITH GOLD DOWN $3.55/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.76 TONNES

JUNE 19/WITH GOLD DOWN $1.50/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.76 TONES

JUNE 18/WITH GOLD UP $1.90/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.76 TONNES

JUNE 15/WITH GOLD DOWN $28.90/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.76 TONNES

JUNE 14/WITH GOLD UP $7.10/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.76 TONNES/

JUNE 13/WITH GOLD UP $2.20/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.76 TONNES

 

 

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JULY 27/2018/ Inventory rests tonight at 800.20 tonnes

*IN LAST 418 TRADING DAYS: 130.73 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 368 TRADING DAYS: A NET 25,81 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.

 

end

JULY 27

Now the SLV Inventory/

JULY 27/WITH SILVER FLAT TODAY, NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT  329.433 MILLION OZ/

JULY 26/WITH SILVER DOWN 10 CENTS: STRANGE: A BIG CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.046 MILLION OZ OF SILVER/INVENTORY RESTS AT 329.433 MILLION OZ

JULY 25: WITH SILVER UP 8 CENTS TODAY: A SMALL CHANGE IN SILVER INVENTORY AT THE SLV/ A WITHDRAWAL OF 658,000 INVENTORY RESTS AT 328.304 MILLION OZ/

 

JULY 24/WITH SILVER UP 8 CENTS TODAY: NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 328.962 MILLION OZ/

JULY 23/WITH SILVER DOWN 11 CENTS/NO CHANGES IN SILVER INVENTORY INTO THE SLV/INVENTORY RESTS AT 328.962 MILLION OZ/

JULY 20/WITH SILVER UP 10 CENTS TODAY: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.411 MILLION OZ INTO THE SLV INVENTORY

INVENTORY RESTS AT 328.962 MILLION OZ

 

JULY 19/WITH SILVER DOWN 17 CENTS TODAY; A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 752,000 OZ INTO THE SLV INVENTORY/INVENTORY RESTS AT 327.551 MILLION OZ/

JULY 18/WITH SILVER DOWN 3 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 326.799 MILLION OZ/

JULY 17/WITH SILVER DOWN 20 CENTS TODAY: A CHANGE IN SILVER INVENTORY A WITHDRAWAL OF 1.001 MILLION OZ FROM THE SLV: INVENTORY RESTS AT 326.799 MILLION OZ/

JULY 16/WITH SILVER FLAT TODAY, A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.128 MILLION OZ//INVENTORY RESTS AT 327.880 MILLION OZ

JULY 13/WITH SILVER DOWN 16 CENTS TODAY/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 326.752 MILLION OZ.

JULY 12/WITH SILVER UP 12 CENTS TODAY: ANOTHER BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.035 MILLION OZ/INVENTORY RESTS AT 326.752 MILLION OZ/

JULY 11/WITH SILVER DOWN 22 CENTS TODAY: ANOTHER HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 565,000/INVENTORY RESTS AT 325.717 MILLION OZ

JULY 10/WITH SILVER DOWN 3 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 325.151 MILLION OZ

july 9/WITH SILVER UP 5 CENTS: ANOTHER BIG CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 847,000 OZ ADDED TO INVENTORY/INVENTORY RESTS AT 825.151 MILLION OZ/

JULY 6/WITH SILVER DOWN 2 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 324.305 MILLION OZ/

JULY 5/WITH SILVER UP 6 CENTS, A GOOD CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 470,000 OZ/INVENTORY RESTS AT 324.305 MILLION OZ/ FOR THE PAST 10 TRADING DAYS, SILVER INVENTORY HAS ADVANCED BY 4.945 MILLION OZ WITH A LOSS OF 33 CENTS/PLEASE COMPARE THIS WITH THE GLD.

JULY 3/WITH SILVER UP 17 CENTS, A HUGE DEPOSIT OF 1.37 MILLION OZ ADDED TO THE SLV/INVENTORY RESTS AT 323.835 MILLION OZ.

JULY 2/WITH SILVER DOWN 31 CENTS/A HUGE 2.070 MILLION OZ DEPOSIT AT THE SLV/INVENTORY RESTS AT 322.465 MILLION OZ/

JUNE 29/WITH SILVER UP 14 CENTS TODAY, NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS THIS WEEKEND AT 320.395 MILLION OZ/

JUNE 28/WITH SILVER DOWN 18 CENTS, THE CROOKS ADDED 1.035 MILLION OZ OF SILVER INTO THE SLV/INVENTORY RESTS AT 320.395 MILLION OZ

JUNE 27.2018/WITH SILVER DOWN 8 CENTS/NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 819.360 MILLION OZ/

june 26./2018/WITH SILVER DOWN 8 CENTS, THE CROOKS WITHDREW THE DEPOSIT OF TWO DAYS AGO; 941,000 OZ OUT OF INVENTORY/INVENTORY RESTS AT 819.360 OZ

JUNE 25/WITH SILVER DOWN 12 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.301 MILLION OZ/

JUNE 22/WITH SILVER UP 12 CENTS TODAY,ANOTHER BIG CHANGE IN SILVER INVENTORY AT THE SLV” A DEPOSIT OF 941,000 OZ INTO INVENTORY/INVENTORY RESTS THIS WEEKEND AT 320.301 MILLION OZ/

JUNE 21/WITH SILVER UP ONE CENT/ANOTHER CHANGE IN SILVER INVENTORY AT THE SLV/: A DEPOSIT OF 2.918 MILLION OZ/INVENTORY RESTS AT 319.360 MILLION OZ/ THUS FOR TWO STRAIGHT DAYS A TOTAL OF 5.26 MILLION OZ OF SILVER HAS BEEN ADDED WITH NO CHANGE IN PRICE.

JUNE  20/WITH SILVER DOWN ONE CENT/A HUGE CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY / A DEPOSIT OF 2.35 MILLION OZ/INVENTORY RESTS AT 316.442 MILLION OZ/

JUNE 19/2018/WITH SILVER DOWN 11 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 314.090 MILLION OZ/

JUNE 18/WITH SILVER DOWN 6 CENTS TODAY/NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 314.090 MILLION OZ/

JUNE 15/WITH SILVER DOWN 75 CENTS/A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.788 MILLION OZ//INVENTORY RESTS AT 314.090 MILLION OZ

JUNE 14/WITH SILVER UP 30 CENTS, THE CROOKS DECIDED THAT THEY NEEDED SILVER INVENTORY BADLY SO THEY RAID THE SLV OF 1.412 MILLION OZ/INVENTORY RESTS AT 315.878 MILLION OZ/

JUNE 13/WITH SILVER UP 11 CENTS TODAY/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 317.290 MILLION OZ/

 

 

JULY 27/2018:

Inventory 329.433 MILLION OZ

 

6 Month MM GOFO 1.88/ and libor 6 month duration 2.52

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

G0FO+ 1.88%

libor 2.52 FOR 6 MONTHS/

GOLD LENDING RATE: .64%

XXXXXXXX

12 Month MM GOFO
+ 2.82%

LIBOR FOR 12 MONTH DURATION: 2.38

GOFO = LIBOR – GOLD LENDING RATE

GOLD LENDING RATE  = +.44

end