Now A Monstrous 47 Tonnes of Gold Standing For Delivery! – Harvey Organ
AT THE COMEX THE FRONT JUNE CONTRACT ADDS 7800 OZ TO THE AMOUNT STANDING- NOW WE HAVE A MONSTROUS 47.29 TONNES STANDING FOR GOLD DELIVERY!!
GLD HAS A MASSIVE 10.71 TONNES ADDED TO ITS INVENTORY (PAPER DEPOSIT) AND SLV ADDS 1,560,000 OZ/AT THE COMEX THE FRONT JUNE CONTRACT ADDS 7800 OZ TO THE AMT STANDING/NOW WE HAVE A MONSTROUS 47.29 TONNES STANDING FOR GOLD AT THE COMEX/DISMAL JOBS REPORTS SENDS GOLD AND SILVER FLYING/GERMAN 10 YR BUND HAS A YIELD OF ONLY .068%/THE WORLD HAS NOW OVER 10 TRILLLION IN NEGATIVE YIELDS OR 33% OF TOTAL GLOBAL ISSUANCE/THE HUGE HONG KONG BASED COMMODITY TRADER NOBLE IN BIG TROUBLE AS THEIR RIGHTS OFFERING IS AT A DISCOUNT OF 65%
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Good evening Ladies and Gentlemen:
Gold: $1,240.10 UP $30.30 (comex closing time)
Silver 16.34 up 34 cents
In the access market 5:15 pm
Gold $1244.20
silver: 16.41
i) the June gold contract is an active contract and the second biggest delivery month of the year following December. Friday night, the bankers first day delivery issuance to our longs to be settled on June 1 was huge: the number was 3,508 gold notices for 350,800 oz or 10.9 tonnes of gold. On day two, we had another huge number of gold notices filed at 2281 for 228100 oz or 7.09 tonnes of gold.On day 3,YESTERDAY, we had another whopper of 1969 notices for 196,900 oz or 6.12 tonnes.TODAY, we had another huge 1026 notices filed for 102600 oz (3.19 tonnes) Thus in 4 days a total of 8,784 notices have been filed for 878,400 oz or 27.32 tonnes. WHAT IS MORE FASCINATING WAS THE FRONT JUNE MONTH INCREASED IN NET OI BY 678 CONTRACTS YESTERDAY. TODAY IT INCREASED BY 78 CONTRACTS OR 7800 OZ. THE ENTITY STANDING DOES NOT WANT FIAT AND IT SURE LOOKS LIKE A SOVEREIGN (CHINA) IS STANDING FOR GOLD. As I stated yesterday: “there is no question that the bankers have uttered these words to one another: “Houston, we have a problem in gold.”
Let us have a look at the data for today
.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 269.31 tonnes for a loss of 34 tonnes over that period
In silver, the total open interest FELL by 1912 contracts DOWN to 195,605 DESPITE THE FACT THAT THE PRICE OF SILVER WAS UP by 9 cents with respect to YESTERDAY’S trading.In ounces, the OI is still represented by just under 1 BILLION oz i.e. 0.978 BILLION TO BE EXACT or 139% of annual global silver production (ex Russia &ex China)
In silver we had 0 notices served upon for nil oz.
In gold, the total comex gold OI FELL by a CONSIDERABLE 5,698 contracts DOWN to 481,096 as the price of gold was down $2.10 with YESTERDAY’S trading(at comex closing).
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With respect to our two criminal funds, the GLD and the SLV:
Two biggies!! in GLD
a)We had a good size deposit in gold inventory at the GLD at 4.46 tonnes late last night and no doubt that this was a paper deposit. The inventory rested early this morning at 875.20 tonnes. .
b) then late tonight a massive paper deposit of: 6.25 tonnes/Thus GLD rests this weekend at 881.44 tonnes/ TOTAL GAIN TONIGHT: 10.71 TONNES
And now for SLV
We had a gigantic deposit of 1,560,000 oz in silver inventory at the SLV/Inventory rests at 337.299 million oz. No doubt that this is also a paper entry of a deposit.
Both the GLD and SLV are massive frauds as they have no metal behind them!
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver FALL by 1912 contracts DOWN to 195,605 as the price of silver was UP by 9 cents with YESTERDAY’S trading. The gold open interest FELL by 5,698 contracts DOWN to 481,096 as gold was down $2.90 YESTERDAY.
(report Harvey).
2 a) Gold trading overnight, Goldcore
(Mark OByrne/off today
2b) Gold trading earlier this morning;
(Mark OByrne and zero hedge)
3c) FRBNY gold report on Germany’s repatriation of gold
repeat from yesterday
(Harvey)
3. ASIAN AFFAIRS
i)Late THURSDAY night/ FRIDAY morning: Shanghai closed UP BY 13.45 PTS OR 0.46% / Hang Sang closed UP 88.02 OR 0.42%. The Nikkei closed UP 79.68 POINTS OR 0.48% . Australia’s all ordinaires CLOSED UP 0.76% Chinese yuan (ONSHORE) closed DOWN at 6.5873 . Oil FELL to 49.17 dollars per barrel for WTI and 49.98 for Brent. Stocks in Europe ALL IN THE GREEN(EXCEPT SPAIN) . Offshore yuan trades 6.5935 yuan to the dollar vs 6.5873 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE WIDENS)
REPORT ON JAPAN SOUTH KOREA AND CHINA
a) REPORT ON JAPAN
none today
b) REPORT ON CHINA
none today
4. EUROPEAN AFFAIRS
i) Former Deutsche bank traders have been indicted in the USA for Libor transgressions.
For fines will be leveled against DB!
( REUTERS/BARTZ)
ii)Then we witness the following: Is Deutsche having liquidity problems?
( zero hedge)
iii)Wow!! German bunds realizing that the world is cratering, witness its 10 yr bond yield falling to only 6.5 basis!!.You read that correctly: 0.065% for 10 years.
The world is falling apart!!
( zero hedge)
5.RUSSIAN AND MIDDLE EASTERN AFFAIRS
none today
6.GLOBAL ISSUES
The total of all global debt is around 30 trillion USA dollars equivalent. Now for the first time we see that negative yielding debt surpasses 10 trillion dollars equivalent or 33% of total debt. If the USA raises rates this will push other nations further into negativity. Since USA bonds and bills represent almost 70% of the positive yields, it is ironic that everybody will flock to the uSA bonds for its positive yield!!!.
(courtesy zero hedge)
7.OIL ISSUES
The higher oil price has done the unthinkable: new rigs have entered the scene to extract the oil
( zero hedge)
8.EMERGING MARKETS
VENEZUELA
a)Venezuela is such a sad case. Daniella DiMartino Booth describes the devastation and a history account as to how this happened to the broken country.
( DiMartino Booth/Reuters)
b)Just take a look at their tap water!!
(courtesy zerohedge)
9. PHYSICAL MARKETS
i)Gold trading early this morning skyrockets to over $1240.00 from 1212 as the June odds of a rate hike just crashed to 2% and July’s odds down to 36%. The USA dollar dropped badly and the bond yields, already at their low point spiked further southbound!
iv)Alasdair Macleod talks about the crookedness of the gold/silver comex casino( Alasdair Macleod)
v)Persson discusses why Singapore is a great place to store your gold bullion:
( Persson/Bullion Star
vi)Ballanger is certainly correct: Technical analysis is certainly useless in gold and silver markets.
( Michael Ballanger/GATA)
USA STORIES WHICH MAY INFLUENCE THE PRICE OF GOLD/SILVER
i)The big story: official story is payrolls with a huge miss as they only “added” 38,000 new jobs.
( BLS/zero hedge)
ii)Now for the real story:
First: Americans not in the labour force surged by a huge 664,000 jobs. The total is now 94.7 million souls not working! The unemployment then lowers to 4.7%. The participation rate in the labour force is down to only 62.6%
( zero hedge)
iii)Second: Now for the qualitative assessment of the job losses:
A.i) A massive 312,000 full time jobs were lost in the last two months and this was offset by 118 part time hires.
ii) the trend for hiring part timers increases. Just wait until the real cost of Obamacare hits as firms release full time workers and replace them with part timers.
( zero hedge)
B.Since 2014, the USA has added 455,000 waiters and bartenders and lost 10,000 manufacturing workers:
( zero hedge)
iv)Goldman is the first out of the box to lower the odds for a rate hike:
( zero hedge)
v)As always minimum wage jobs produced the highest job growth. Almost half of all job sectors posted a decline. The biggest job sector gain: Health services i.e. Obamacare.
vi)Rick Santelli explains the ludicrous Fed policy for the mess that the uSA is in:
viii)And now whatever is left of USA manufacturing, we now witness factory orders falter again on a year over year basis:( zero hedge)
ix)Anybody that followed Goldman Sachs’s advice on shorting the offshore yuan got crushed with the USA j0bs report which cause the dollar plummet!
( zero hedge)
x) Tonight’s wrap up courtesy of Greg Hunter/USAWatchdog/