Harvey Organ suspects MASSIVE short covering by the bankers – Mentions short covering not yet happening in silver. Are we seeing that short covering this morning in silver as shown by the pop and stout resilience after two pre-market attacks? It does appear the rare yet bullish Loch Ness Monster trade is spotted…Looks like there have been two opportunities for the banks to cover their shorts in silver today. Yes indeed this is setting up for an interesting week.
(Chart generated by ThinkorSwim)
By Harvey Organ of www.harveyorganblog.com
JULY 24/GOLD AND SILVER STEADY TODAY/GLD LOSES ANOTHER 9.62 TONNES AND YET GOLD REMAINS CONSTANT/EU SOUNDS ALARM BELL IF THE USA PASSES MORE SANCTIONS AGAINST RUSSIA/IRAN AND USA EXCHANGE HEATED WORDS/FBI SEIZES CRUSHED HARD DRIVES OF THE AWAN BROTHERS AND ALSO RAID FORMER DNC CHAIRWOMAN DEBBIE WASSERMAN SCHULTZ/
GOLD: $1254.50 DOWN $0.25
Silver: $16.45 DOWN 4 cent(s)
Closing access prices:
SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
SHANGHAI FIRST GOLD FIX: $1261.18 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1254.50
PREMIUM FIRST FIX: $6.68
SECOND SHANGHAI GOLD FIX: $1261.69
NY GOLD PRICE AT THE EXACT SAME TIME: $1252.95
Premium of Shanghai 2nd fix/NY:$8.71
LONDON FIRST GOLD FIX: 5:30 am est $1255.85
NY PRICING AT THE EXACT SAME TIME: $1256.55
LONDON SECOND GOLD FIX 10 AM: $1254.50
NY PRICING AT THE EXACT SAME TIME. $1255.50 ???
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 2 NOTICE(S) FOR 200 OZ.
TOTAL NOTICES SO FAR: 151 FOR 15100 OZ (.4696 TONNES)
17 NOTICES FILED TODAY FOR
Total number of notices filed so far this month: 3027 for 15,135,000 oz
Let’s us have a look at the data for today
In silver, the total open interest ROSE BY 127 contract(s) UP to 206,498 WITH THE RISE IN PRICE THAT SILVER TOOK WITH FRIDAY’S TRADING (UP 11 CENT(S).TODAY WE HAD SPEC SHORTS AND BANKERS WORKING IN CONCERT TRYING TO COVER THEIR SHORTS. THE COT REPORT CONTINUES TO SHOW NEWBIE SPEC GOING SHORT WITH THE ACCOMPANYING COMMERCIALS GOING NET LONG. ON FRIDAY NEW SPEC LONGS ENTERED THE ARENA SMELLING TROUBLE WITH RESPECT TO USA POLITICS. THE BANKERS ARE STILL HAVING AN AWFUL TIME TRYING TO SHAKE THE SILVER LEAVES FROM THE SILVER TREE.
In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.037 BILLION TO BE EXACT or 148% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 17 NOTICE(S) FOR 85,000 OZ OF SILVER
In gold, the total comex gold FELL BY A MONSTROUS 17,375 CONTRACTS DESPITE THE RISE IN THE PRICE OF GOLD ($8.75 with FRIDAY’S TRADING). The total gold OI stands at 463,798 contracts. WE EITHER HAD MASSIVE SHORT COVERING BY THE BANKERS OR MOST PROBABLY WE HAD A HUGE TRANSFER OF 17,375 EFP’S AS WE ENTER AN ACTIVE GOLD CONTRACT MONTH. HOWEVER THIS WOULD BE VERY EARLY IN THE DELIVERY CYCLE FOR THIS TO HAPPEN. STRANGELY WE DO NOT WITNESS THIS WITH SILVER!!!.
we had 2 notice(s) filed upon for 200 oz of gold.