Harvey Organ: SEVERE Backwardation In London Gold & Silver With ACTUAL DELAYS In Deliveries

Harvey has an update on just how bad things have become in the effort to keep the prices capped. Here’s the details…

by Harvey Organ of Harvey Organ Blog

JUNE 22/GOLD UP 25 CENTS TO $1268.75 BUT SILVER IS THE STAR UP 12 CENTS TO $16.45/GLD HAS A HUGE WITHDRAWAL OF 4.13 TONNES OF GOLD/SILVER AT SLV ADDS ANOTHER 941000 OZ TO ITS INVENTORY/SILVER OPEN INTEREST FOR JULY VERY ELEVATED AND WE MAY HAVE A HUGE AMOUNT STANDING FOR DELIVERY/GOLD COMEX COMATOSE AGAIN./MERKEL’S COALITION FALLING APART/BIG JUMP IN OIL TODAY AS OPEC AGREES TO RAISE PRODUCTION BUT AT LOWER LEVELS/TRUMP AGAIN WARNS OF FUTURE TARIFFS/IN ANOTHER SCANDAL MCCAIN INVOLVED IN PUSHING IRS FINANCIAL AND RUINOUS AUDITS ON 501 C CORPORATIONS /

GOLD: $1268.75 UP  $0.25(COMEX TO COMEX CLOSINGS)

Silver: $16.45 UP 12 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1269.90

silver: $16.45

 

 

For comex gold:

JUNE/

NUMBER OF NOTICES FILED TODAY FOR JUNE CONTRACT:21 NOTICE(S) FOR 2100 OZ

TOTAL NOTICES SO FAR 6817 FOR 681700 OZ (21.203 tonnes)

For silver:

JUNE

0 NOTICE(S) FILED TODAY FOR

NIL OZ/

Total number of notices filed so far this month: 1073 for 5,365,000 oz

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Bitcoin: BID $6068/OFFER $6168: DOWN  $597(morning)

Bitcoin: BID/ $6676/offer $6776: DOWN $30  (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: 1275.59

NY price  at the same time: 1267.55

PREMIUM TO NY SPOT: $8.05

Second gold fix early this morning: 1270.26

USA gold at the exact same time:1262.80

PREMIUM TO NY SPOT:  $7.46

AGAIN, SHANGHAI REJECTS NEW YORK PRICING.

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 CONSIDERABLE 1575 CONTRACTS FROM 217679 UP TO 219,254 ACCOMPANYING YESTERDAY’S TINY 1 CENT GAIN IN SILVER PRICING. HOWEVER  AS WE ARE NOW WELL INTO THE NON ACTIVE DELIVERY MONTH OF JUNE WE CONTINUE TO WITNESS LONGS PACK THEIR BAGS AND MIGRATE OVER TO LONDON IN GREATER NUMBERS.  WE WERE  NOTIFIED THAT WE HAD A STRONG SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP: 2155 EFP’S FOR JULY, 439 EFP’S FOR SEPT. , 0 EFP’SFOR DECEMBER AND ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE: OF 2594 CONTRACTS. WITH THE TRANSFER OF 2594 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 2594 EFP CONTRACTS TRANSLATES INTO 12.970 MILLION OZ  ACCOMPANYING:

1.THE 1 CENT GAIN IN  SILVER PRICE  AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES STANDING FOR JUNE COMEX DELIVERY. (5.370 MILLION OZ) DESPITE IT BEING A NON ACTIVE DELIVERY MONTH.

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

55,690 CONTRACTS (FOR 16 TRADING DAYS TOTAL 55,690 CONTRACTS) OR 278.45 MILLION OZ: (AVERAGE PER DAY: 3480 CONTRACTS OR 17.40 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  278.45* MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 39.77% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)* WE HAVE ALREADY PASSED LAST MONTH AND CLOSING IN ON THE RECORD MONTH OF APRIL.

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:            1,594.57      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

RESULT: WE HAD A CONSIDERABLE SIZED INCREASE IN COMEX OI SILVER COMEX OF 1575 WITH THE 1 CENT GAIN IN SILVER PRICE.  WE HAVE NOW ENTERED THE NEW NON ACTIVE MONTH OF JUNE AND  THE CME NOTIFIED US THAT IN FACT WE HAD A STRONG SIZED EFP ISSUANCE OF 2594 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:  2155 EFP CONTRACTS FOR JULY,  439 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: 2594). TODAY WE GAINED AN CONSIDERABLE: 4644 TOTAL OI CONTRACTS  ON THE TWO EXCHANGES: i.e.2594 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH AN INCREASE OF 1575  OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A  1 CENT GAIN IN PRICE OF SILVER  AND A CLOSING PRICE OF $16.33 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A GIGANTIC AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY IN THIS NON  ACTIVE JUNE DELIVERY MONTH. IT SURE LOOKS LIKE A FAILED BANKER SHORT COVERING EXERCISE!!

In ounces AT THE COMEX, the OI is still represented by OVER 1 BILLION oz i.e. 1.098 MILLION OZ TO BE EXACT or 157% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JUNE MONTH/ THEY FILED AT THE COMEX: 0 NOTICE(S) FOR NIL OZ OF SILVER

IN SILVER, WE HAVE NOW SET THE NEW RECORD OF OPEN INTEREST AT 243,411 AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $16.51  ON APRIL 9.2018.

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 AND MAY: 36.285 MILLION OZ /AND JUNE/2018  (5.370 MILLION OZ SO FAR)
  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/ (FINAL)

AND YET, WITH THE EXTREMELY HIGH EFP ISSUANCE, WE HAVE A CONTINUAL LOW PRICE OF SILVER DESPITE THE ABOVE HUGE DEMAND.  TO ME THE ONLY ANSWER IS THAT WE HAVE SOVEREIGN  (CHINA) WHO IS ENDEAVOURING TO GOBBLE UP ALL AVAILABLE PHYSICAL SILVER NO MATTER WHERE, EXACTLY WHAT J.P.MORGAN IS DOING. AND IT IS MY BELIEF THAT J.P.MORGAN IS HOLDING ITS SILVER FOR ITS BENEFICIAL OWNER..THE USA GOVERNMENT WHO IN TURN IS HOLDING THAT SILVER FOR CHINA.(FOR A SILVER LOAN REPAYMENT).

In gold, the open interest ROSE BY A CONSIDERABLE 2838 CONTRACTS UP TO 470,217 WITH THE FALL IN THE GOLD PRICE/YESTERDAY’S TRADING (A FALL OF $4.00).  WE ARE NOW IN THE  ACTIVE DELIVERY MONTH OF JUNE. NO DOUBT THE BOYS ARE CASHING IN THEIR COMEX LONGS TO BEGIN THE PROCESS TO MOVE INTO LONDON FORWARDS.  THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A STRONG SIZED 12,151 CONTRACTS :   JUNE SAW THE ISSUANCE OF 0 CONTRACTS , AND AUGUST SAW THE ISSUANCE OF:  12,151 CONTRACTS WITH ALL OTHER MONTHS ZERO.  The new OI for the gold complex rests at 470,217. 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 GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES: 2838  OI CONTRACTS INCREASED AT THE COMEX AND A STRONG SIZED 12,151 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN: 14,989 CONTRACTS OR 1,498,900 OZ = 46.62 TONNES. AND STRANGELY ALL OF THIS DEMAND OCCURRED WITH A FALL  OF  $4.00.???

YESTERDAY, WE HAD 7988  EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MAY : 179,209 CONTRACTS OR 17,920,900  OZ OR 557.41 TONNES (16 TRADING DAYS AND THUS AVERAGING: 11,200 EFP CONTRACTS PER TRADING DAY OR 1,120,000 OZ/ TRADING DAY),,

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 16 TRADING DAYS IN  TONNES: 557.41 TONNES

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

THUS EFP TRANSFERS REPRESENTS 557.41/2550 x 100% TONNES =  21.85% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JUNE ALONE.***

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  4,009.24*  TONNES   *SURPASSED ANNUAL PROD’N

ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018:           653.22  TONNES

ACCUMULATION OF GOLD EFP’S FOR FEBRUARY 2018:         649.45 TONNES

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)

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 CONSIDERABLE SIZED INCREASE IN OI AT THE COMEX OF 2838 DESPITE THE $4.00 FALL IN PRICING GOLD TOOK ON YESTERDAY // GOLD TRADING YESTERDAY ($4.00 DROP).  WE ALSO HAD A GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 12151 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 12151 EFP CONTRACTS ISSUED, WE HAD A STRONG  NET GAIN OF 16,481 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES:

12151 CONTRACTS MOVE TO LONDON AND 2838 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 46.62 TONNES). ..AND BELIEVE IT OR NOT BUT ALL OF THIS DEMAND OCCURRED AT THE COMEX WITH A  FALL OF $4.00 IN TRADING!!!.

we had: 21 notice(s) filed upon for 2100 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 $0.25  TODAY: / A HUGE CHANGE IN GOLD INVENTORY AT THE GLD/THE CROOKS WITHDRAW A MASSIVE 4.13 TONNES FROM THE GLD /GLD INVENTORY 824.63 TONNES

Inventory rests tonight: 828.76 tonnes.

SLV/

WITH SILVER  UP 12 CENTS TODAY /ANOTHER BIG CHANGE IN THE SILVER: ANOTHER DEPOSIT OF 941,000  OZ/THE RAIDS ARE OVER.

/INVENTORY RESTS AT 320.301 MILLION OZ/

Let us head over to the comex:

The total gold comex open interest ROSE BY A CONSIDERABLE SIZED 2838 CONTRACTS UP to an OI level 470,217 DESPITE THE CONSIDERABLE DROP IN THE PRICE OF GOLD ($4.00 FALL/ YESTERDAY’STRADING).   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.   THE CME REPORTS THAT THE BANKERS ISSUED AN ATMOSPHERIC AND RECORD SIZED  COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 12,151 CONTRACTS WERE ISSUED:

FOR AUGUST 12151 CONTRACTS AND ZERO FOR ALL OTHER MONTHS:

TOTAL  12151 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: 14,989 OI TOTAL CONTRACTS IN THAT 12,151 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED 2838 COMEX CONTRACTS.

NET  GAIN ON THE TWO EXCHANGES: 14,989 contracts OR 1,498,900  OZ OR 46.62 TONNES.

Result: A CONSIDERABLE SIZED INCREASE IN COMEX OPEN INTEREST DESPITE THE DROP IN PRICE/YESTERDAY  (ENDING UP WITH A FALL IN PRICE OF $4.00).  THE  TOTAL OPEN INTEREST GAIN ON THE TWO EXCHANGES:  14,989 OI CONTRACTS..

We have now entered the active contract month of JUNE where we LOST 9 contracts and that leaves us with 191 contracts  We had 4 notices filed upon yesterday so we LOST 5 CONTRACTS OR AN ADDITIONAL 500 OZ WILL NOT STAND TO DELIVERY AT THE COMEX AS THOSE STANDING FOR DELIVERY  MORPHED INTO LONDON BASED EFPS WITH THE ADDITIONAL SWEETENERS BEING OFFERED BY THE BANKERS

.JULY saw a GAIN OF 65 contracts to stand at 1154.  The next big delivery month after June is August and here the OI ROSE BY 3221 contracts UP to 327,673.

AFTER AUGUST, THE NEXT ACTIVE DELIVERY MONTH IS OCTOBER AND HERE THE OI FELL BY 153CONTRACTS DOWN TO 12,688 CONTRACTS.

FOR COMPARISON: ON JUNE 22/2017 WE HAD 1389 OPEN INTEREST CONTRACTS STILL STANDING FOR THE JULY CONTRACT MONTH. VS JUNE 22/2018 AT 1154.

We had 21 notice(s) filed upon today for 2100 oz at the comex

Trading Volumes on the COMEX

PRELIMINARY COMEX VOLUME FOR TODAY: 179,451  contracts

 

CONFIRMED COMEX VOL. FOR YESTERDAY:  295,541   contracts

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And now for the wild silver comex results.

Total silver OI ROSE BY A CONSIDERABLE SIZED 1575 CONTRACTS FROM 217,670 UP TO 219,254 (AND A LITTLE FURTHER FROM THE NEW RECORD OI FOR SILVER SET APRIL 9.2018/ 243,411 CONTRACTS) ACCOMPANYING THE 1 CENT GAIN IN SILVER PRICING/ YESTERDAY. SINCE WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF JUNE, WE WERE  INFORMED THAT WE HAD A STRONG SIZED 2155 EFP CONTRACT ISSUANCE FOR JULY, 439 EFP CONTRACTS FOR SEPT., 0 EFPCONTRACTS 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: 2594.  ON A NET BASIS WE GAINED 4169 SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED A 1575  CONTRACT GAIN AT THE COMEX COMBINING WITH THE ADDITION OF 2594 OI CONTRACTS NAVIGATING OVER TO LONDON.

NET GAIN ON THE TWO EXCHANGES:  4169 CONTRACTS

AMOUNT STANDING FOR SILVER AT THE COMEX

We are now in the NON active delivery month of JUNE and here the front month FELL BY 0 contracts REMAINING AT 1 contracts. We had 0 notices filed upon yesterday so we gained 0 contracts or an additional NIL oz will stand in this non active delivery month of June TODAY NOBODY WAS IN URGENT NEED OF PHYSICAL ON THIS SIDE OF THE POND

The next big active delivery month for silver is July and here the OI LOST 10,894 contracts DOWN to 73,711.  The next delivery month is August and here we GAINED 22 contracts  to stand at 533. The next active delivery month after August for silver is September and here the OI ROSE by 12,304 contracts UP to 106,536

FOR COMPARISON AT THIS TIME IN THE DELIVERY CYCLE, JUNE 22.2017, FOR SILVER, WE HAD 66,891 OPEN INTEREST CONTACTS STILL STANDING.VS 73,711 TODAY. LAST YEAR AT THIS TIME WE HAD 7 MORE TRADING DAYS LEFT BEFORE FIRST DAY NOTICE, THIS YEAR WE HAVE 6 MORE TRADING DAYS  BEFORE FDN. WE NO DOUBT WILL HAVE A DOOZY AMOUNT OF SILVER OZ STANDING FOR THE HUGE JULY CONTRACT MONTH.

We had 0 notice(s) filed for NIL OZ for the JUNE 2018 COMEX contract for silver

INITIAL standings for JUNE/GOLD

JUNE 22/2018.

we have just a tiny tiny pulse today.
we had 0 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 withdrawal out of the customer account:
i) Out of Delaware: 99.85 oz
total customer withdrawals:  99.85 oz
we had 0 customer deposit
total customer deposits: nil oz
we had 1 adjustments
i) Out of dealer  Delaware:  200.194 oz was adjusted out of the customer and this landed into the dealer account of Delaware.

For JUNE:

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 21 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 JUNE. contract month, we take the total number of notices filed so far for the month (6817) x 100 oz or 681700 oz, to which we add the difference between the open interest for the front month of JUNE. (191 contracts) minus the number of notices served upon today (21 x 100 oz per contract) equals 698,700 oz, the number of ounces standing in this active month of JUNE (21.732 tonnes)

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

No of notices served (6817 x 100 oz)  + {(191)OI for the front month minus the number of notices served upon today (21 x 100 oz )which equals 698,700 oz standing in this  active delivery month of JUNE .

FOR COMPARISON:

FOR THE JUNE/2017 CONTRACT INITIALLY 19.95 TONNES STOOD FOR DELIVERY.  AT THE END OF JUNE/2017:  9.176 TONNES STOOD AND THE REST MORPHED INTO LONDON BASED FORWARDS.

WE LOST A SMALL 5 CONTRACTS OR AN ADDITIONAL 500 OZ WILL NOT STAND FOR DELIVERY AS THESE GUYS MORPHED INTO LONDON  BASED FORWARDS AND RECEIVED AN ADDITIONAL SWEETENER FOR THEIR EFFORT.. 

THERE ARE ONLY 7.314 TONNES OF REGISTERED GOLD AVAILABLE FOR DELIVERY AGAINST 21.732 TONNES STANDING  WHICH IS MAKING THIS JUNE CONTRACT MONTH AN EXTREMELY INTERESTING ONE TO WATCH.

WE HAVE HAD 3 ADJUSTMENTS FROM DEALER TO THE CUSTOMER ACCOUNT AND THAT USUALLY MEANS A SETTLEMENT:

 

I) 5.90 TONNES (TWO WEEKS AGO)

II) 7.9 TONNES (TWO DAYS AGO)

III) .56 TONNES (YESTERDAY)  

IV)  ZERO (TODAY)

TOTAL: 14.36 TONNES HAVE BEEN SETTLED AGAINST THE 21.732TONNES STANDING.

 

total registered or dealer gold:  235,175.667 oz or 7.314 tonnes
total registered and eligible (customer) gold;   8,823,483.06 oz 274.4 tonnes

IN THE LAST 18 MONTHS 80 NET TONNES HAS LEFT THE COMEX.

end

And now for silver

AND NOW THE APRIL DELIVERY MONTH

JUNE INITIAL standings/SILVER

we had 0 inventory movement at the dealer side of things

total dealer deposits: nil oz

we had 1 deposits 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 141 million oz of  total silver inventory or 52.0% of all official comex silver. (141 million/270 million)

ii) Into Delaware:  100,248.250 oz

 

total customer deposits today: 100,248.250 oz

we had 2 withdrawals from the customer account;

i) Out of CNT: 91,742.600 oz

ii) Out of Delaware: 101,248.850 oz

total withdrawals;  192,991.450 oz

 

we had 0  adjustment/

 

total dealer silver:  69.668 million

total dealer + customer silver:  272.798 million oz

The total number of notices filed today for the JUNE. contract month is represented by 0 contract(s) FOR NIL oz. To calculate the number of silver ounces that will stand for delivery in JUNE., we take the total number of notices filed for the month so far at 1073 x 5,000 oz = 5,365,000 oz to which we add the difference between the open interest for the front month of JUNE. (1) and the number of notices served upon today (0 x 5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the JUNE contract month: 1073(notices served so far)x 5000 oz + OI for front month of JUNE(1) -number of notices served upon today (0)x 5000 oz equals 5,370,000 oz of silver standing for the JUNE contract month

PLEASE NOTE THE FOLLOWING FOR COMPARISON PURPOSES:

ON MAY 31.2017 WE INITIALLY HAD 396 OPEN INTEREST STAND OR A LARGE 1.98 MILLION OZ 

STOOD FOR METAL.

 

THE JUNE 22/2017 READING HAD 66,891 CONTRACTS STANDING SO FAR FOR THE JULY DELIVERY MONTH WHICH IS A VERY VERY ACTIVE MONTH VS.73,711 OUTSTANDING TODAY.

AT THE CONCLUSION OF JUNE 2017:  4.92 MILLION OZ FINALLY STOOD AS QUEUE JUMPING STARTED IN EARNEST AND IN THE ENSUING YEAR, IT CONTINUED WITH RECKLESS ABANDON INCLUDING WHAT YOU ARE WITNESSING TODAY.THIS IS COMPARED TO TODAY’S AMOUNT STANDING: 5.370 MILLION OZ.

We gained 0 contracts or an additional NIL oz will stand in this non active delivery month of June as nobody was in urgent need of silver today. IN SILVER QUEUE JUMPING HAS BEEN THE NORM FOR OVER A YEAR. IT LOOKS LIKE GOLD IS TAKING A HOLIDAY FROM  THIS SAME PHENOMENON…

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ESTIMATED VOLUME FOR TODAY: 116,633 CONTRACTS

CONFIRMED VOLUME FOR YESTERDAY: 98,602CONTRACTS  absolutely criminal

YESTERDAY’S CONFIRMED VOLUME OF  98,602 CONTRACTS EQUATES TO 493 million OZ  OR 70.6% 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 FALLS TO -3.71% (JUNE 22/2018)
2. Sprott gold fund (PHYS): premium to NAV FALLS TO -0.49% to NAV (JUNE 22/2018 )
Note: Sprott silver trust back into NEGATIVE territory at -3.71%-/Sprott physical gold trust is back into NEGATIVE/

(courtesy Sprott/GATA)

3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA): NAV FALLS TO -3.42%: NAV 13.27/TRADING 12.81//DISCOUNT 3.42.

END

And now the Gold inventory at the GLD/

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

JUNE 12/WITH GOLD DOWN $4.75:NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.76 TONNES

JUNE 11/WITH GOLD UP 65 CENTS/THE CROOKS RAIDED THE COOKIE JAR FOR 3.83 TONNES/INVENTORY RESTS AT 828.76 TONNES

JUNE 8/WITH GOLD DOWN 10 CENTS/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY REMAINS AT 832.59 TONNES./

JUNE 7/WITH GOLD UP $1.45, THE CROOKS DECIDED TO RAID AGAIN THE GLD GOLD COOKIE JAR TO THE TUNE OF 3.54 TONNES/GOLD INVENTORY LOWERS TO 832.59 TONNES

JUNE 6/WITH GOLD UP $1.30 TODAY, WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 836.13 TONNES

JUNE 5/WITH GOLD UP $5.30 TODAY, WE HAD A TINY WITHDRAWAL OF .29 TONNES AND THAT NO DOUBT WAS TO PAY FOR FEES/836.13 TONNES

JUNE 4/WITH GOLD DOWN ONLY $2.50, THE CROOKS UNLEASHED A MASSIVE WITHDRAWAL OF 10.61 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 836.42 TONNES

JUNE 1/WITH GOLD DOWN $5.10 TODAY, A HUGE 4.42 TONNES OF GOLD WAS WITHDRAWN FROM THE GLD AND THIS WAS USED IN THE RAID TODAY/INVENTORY RESTS AT 847.03 TONNES

MAY 31/WITH GOLD DOWN 1.60/NO CHANGE IN GOLD INVENTORY/INVENTORY REMAINS AT 851.45 TONNES

MAY 30/WITH GOLD UP $2.70: A HUGE DEPOSIT OF 2.95 TONNES INTO THE GLD/INVENTORY REMAINS AT 851.45 TONNES

MAY 29/2018/WITH GOLD DOWN $4.50/ NO CHANGES IN GLD INVENTORY/INVENTORY REMAINS AT 848.50 TONNES

May 25/WITH GOLD UP ON THE WEEK BUT DOWN 80 CENTS TODAY: WE HAD A HUGE 3.54 TONNES OF GOLD WITHDRAWAL FROM THE CROOKED GLD/

MAY 24/WITH GOLD UP $12.40/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 852.04

MAY 22/WITH GOLD UP $1.05/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 852.04 TONNES

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

JUNE 22/2018/ Inventory rests tonight at 824,63 tonnes

*IN LAST 403 TRADING DAYS: 101,96 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 353 TRADING DAYS: A NET 54.34 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.

end

Now the SLV Inventory/

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

JUNE 12/WITH SILVER DOWN 5 CENTS/A HUGE CHANGES IN SILVER INVENTORY AT THE SLV/ THE CROOKS RAID THE SILVER COOKIE JAR BY 1.976 MILLION OZ/INVENTORY LOWERS TO 317.290 MILLION OZ/

jUNE 11/NO CHANGE IN SILVER INVENTORY/319.266 MILLION OZ

JUNE 8/WITH SILVER DOWN 5 CENTS/A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.412 MILLION OZ//INVENTORY LOWERS TO 319.266 MILLION OZ/

JUNE 7/WITH SILVER UP ANOTHER 12 CENTS/A HUGE CHANGE IN SILVER INVENTORY AT THE SL: A WITHDRAWAL OF 1.883 MILLION OZ WITH ALL OF THAT SILVER DEMAND//INVENTORY RESTS AT 320.678 MILLION OZ/

JUNE 6/WITH SILVER UP 14 CENTS TODAY/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 322.561 MILLION OZ/

JUNE 5/WITH SILVER UP 10 CENTS NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 322.561 MILLION OZ

JUNE 4/WITH SILVER DOWN 1 CENTA SMALL CHANGE IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 522,000 OZ INTO THE SLV/.INVENTORY RISES AT 322.561 MILLION OZ/

JUNE 1/WITH SILVER DOWN 3 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY REMAINS AT 322.039 MILLION OZ/

MAY 31/WITH SILVER DOWN 7 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY REMAINS AT 322.039 MILLION OZ/

MAY 30/WITH SILVER UP 16 CENTS: A HUGE CHANGE IN SILVER INVENTORY AT THE SLV/ A DEPOSIT OF 2.071 MILLION OZ/INVENTORY RESTS AT 322.039 MILLION OZ/

MAY 29.2018/ NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.968 OZ

May 25/INVENTORY LOWERS TO 319.968 AS WE HAD A WITHDRAWAL OF 1.035 MILLION OZ

MAY 24/WITH SILVER UP 27 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 321.003 MILLION OZ/

MAY 22/WITH SILVER UP 6 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 321.003 MILLION OZ/

 

JUNE 22/2018:

Inventory 320.301 MILLION OZ

 

6 Month MM GOFO 2.05/ and libor 6 month duration 2.50

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

G0FO+ 2.04%

libor 2.50 FOR 6 MONTHS/

GOLD LENDING RATE: .46%

XXXXXXXX

12 Month MM GOFO
+ 2.77%

LIBOR FOR 12 MONTH DURATION: 2.53

GOFO = LIBOR – GOLD LENDING RATE

GOLD LENDING RATE  = +.24

end

At now it is time for the totally useless COT report which shows position levels of our major players only at comex.  If we could get position levels of both LBMA forwards and comex, that would be a different story.

Your useless gold COT report

Our large speculators

those large specs that have been long on gold added 10,163 contracts to their long side

those large specs that have been short in gold added a net monstrous 33,891 contacts to their short side  ??

Our commercials

those commercials that have been long in gold added 2059 contracts to their long side

those commercials that have been short in gold covered (transferred)) a huge 24,404 contacts

(EFP route)

 

Our small specs

those small specs that have been long in gold pitched (transferred) 1086 contracts from their long side

those small specs that have been short in gold added a net 1649 contracts to their short side

and now our silver COT

Our large speculators

those large specs that have been long in silver pitched (transferred) a net 5810 contracts from their long side

those large specs that have been short in silver added a net 3018 contracts to their short side

Our commercials

those commercials who have been long in silver added a net 829 contracts to their long side

those commercials who have been short in silver pitched (transferred ) a whopping 8012 contracts from their short side (EFP’s)

Our small specs

Those small specs that have been long in silver added 289 contracts  to their long side

those small specs that have been short in silver added 302 contacts to their short side.

Conclusions and Advice:

please do not glean anything from this ridiculous COT report.  It is a total waste of time reading it.

end