Is the Pain Finally Over for Gold and Silver Prices?
OPTIONS EXPIRY FINALLY OVER/CHINA FURIOUS AT THE USA FOR SALE OF $1.4 BILLION IN ARMS TO TAIWAN/3 USA STATES IN PRECARIOUS POSITION AS THEY HAVE NOT PASSED THEIR BUDGET: ILLINOIS,CONNECTICUT/MAINE/TRUMP GOES AGAINST HIS CABINET AND WISHES TO UNLEASH A GLOBAL TRADE WAR BY INITIATING TARIFFS/TRUMP CALLS FOR THE COMPLETE REPEAL OF OBAMACARE WITHOUT A NEW “TRUMPCARE”
GOLD: $1240.70 DOWN $3.50
Silver: $16.57 DOWN 2 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: $1261.24 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1253.05
PREMIUM FIRST FIX: $8.23
SECOND SHANGHAI GOLD FIX: $1252.00.25
NY GOLD PRICE AT THE EXACT SAME TIME: $1243.90
Premium of Shanghai 2nd fix/NY:$8.10
LONDON FIRST GOLD FIX: 5:30 am est $1243.25
NY PRICING AT THE EXACT SAME TIME: $1244.10???
LONDON SECOND GOLD FIX 10 AM: $1242.25
NY PRICING AT THE EXACT SAME TIME. $1242.45
For comex gold:
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 30 NOTICE(S) FOR 3000 OZ.
TOTAL NOTICES SO FAR: 30 FOR 3000 OZ (.0933 TONNES)
878 NOTICES FILED TODAY FOR
Total number of notices filed so far this month: 878 for 4,390,000 oz
Let us have a look at the data for today
In silver, the total open interest SURPRISINGLY FELL BY ONLY 1895 contract(s) DOWN to 200,885 DESPITE THE FALL IN PRICE OF SILVER THAT TOOK PLACE WITH YESTERDAY’S TRADING (DOWN 16 CENT(S). BUT MORE IMPORTANT WE HAVE NOT WITNESSED ANY OBLITERATION OF OPEN INTEREST AS WE ENTERED FIRST DAY NOTICE IN THE ACTIVE SILVER COMEX MONTH OF JULY. AS AN EXAMPLE, AS WE APPROACHED THE ACTIVE MONTH OF MAY WE HAD OBLITERATION OF AROUND 7,000 CONTRACTS ON EACH OF THE LAST 3 DAYS BEFORE ENTERING FIRST DAY NOTICE.
In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.0040 BILLION TO BE EXACT or 144% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 878 NOTICE(S) FOR 4,390,000 OZ OF SILVER
In gold, the total comex gold SURPRISINGLY ROSE BY 116 CONTRACTS DESPITE THE FALL IN THE PRICE OF GOLD ($3.30 with YESTERDAY’S TRADING). The total gold OI stands at452,684 contracts.
we had 30 notice(s) filed upon for 3000 oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
We had no changes in tonnes of gold at the GLD:
Inventory rests tonight: 853.66 tonnes
Today: no change in silver inventory at the SLV:
THE SLV Inventory rests at: 339.226 million oz
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver FELL BY ONLY 1895 contracts DOWN TO200,885 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787), WITH THE FALL IN PRICE FOR SILVER WITH YESTERDAY’S TRADING (DOWN 16 CENTS).We LOST A FEW AS JUST ABOUT EVERYBODY ELSE remains firm and determined. WE NORMALLY LOSE ABOUT 7,000 CONTACTS PER DAY ON THE LAST 3 DAYS AS WE ENTER FIRST DAY NOTICE OF AN ACTIVE MONTH WHETHER GOLD OR SILVER. IT DID NOT HAPPEN IN JULY!!
2.a) The Shanghai and London gold fix report
2 b) Gold/silver trading overnight Europe, Goldcore
and in NY: Bloomberg
3. ASIAN AFFAIRS
i)Late THURSDAY night/FRIDAY morning: Shanghai closed UP 4.36 POINTS OR 0.14% / /Hang Sang CLOSED DOWN 200.84 POINTS OR 0.77% The Nikkei closed DOWN 186.87 POINTS OR 0.92%/Australia’s all ordinaires CLOSED DOWN 1.57%/Chinese yuan (ONSHORE) closed UP at 6.7807/Oil UP to 45.34 dollars per barrel for WTI and 47.98 for Brent. Stocks in Europe OPENED ALL IN THE GREEN,, Offshore yuan trades 6.7796 yuan to the dollar vs 6.7807 for onshore yuan. NOW THE OFFSHORE IS MUCH STRONGER TO THE ONSHORE YUAN/ ONSHORE YUAN STRONGER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS MUCH STRONGER TO THE DOLLAR AND THIS IS COUPLED WITH THE STRONGER DOLLAR. CHINA IS NOT VERY HAPPY TODAY
3a)THAILAND/SOUTH KOREA/NORTH KOREA
b) REPORT ON JAPAN
c) REPORT ON CHINA
i)China’s pMI for mfg and service unexpectedly rise despite employment contraction. This is due to the after-effects of that large stimulus orchestrated by POBC at the start of the year:
( zero hedge)
ii)China is furious with the USA over the sale of $1.4 billion in weapons to Taiwan
( zero hedge)
4. EUROPEAN AFFAIRS
The Eurozone inflation numbers beat expectation of 1.3% from May’s 1.4% but ahead of consensus 1.2%. The bankers are always trying to inflate themselves out of their mess.
( zero hedge
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
One of the best articles I have seen on the Qatari issue. The real contention is not that Qatar is supporting terrorism but that fact that Qatar has no choice but to face east and supply China with their huge gas fields. China is paying Iran in yuan for oil so it is understandable why the USA is extremely worried. The petrodollar scheme just got a knife thrown into its heart.
a must read..
( Darius Shahtahmasebi/AntiMedia.org)
6 .GLOBAL ISSUES
7. OIL ISSUES
i)A rise in interest rates will definitely create problems for the shale boys
( Nick Cunningham/OilPrice.com)
ii)Oil rises on news that USA rig count finally drops (by 2)
8. EMERGING MARKET
9. PHYSICAL MARKETS
Crazy country: not to allow a big mining operation to commence production because of “environmentalists”
( London’s Financial times/GATA)
10. USA Stories
i)As we pointed out to you yesterday, Illinois is not the only state in jeopardy today: It is also Connecticut. Here is why>>( zerohedge)
ib)You can now add Maine to the mix:
( zero hedge)
ic)Connecticut fails to pass budget. The Governors signs exec. order to take over spending:
( zero hedge)
i d)It is now Dave Kranzler’s turn to talk about the upcoming apocalypse with the Colorado Pension scheme:
( Dave Kranzler/IRD)
ii)Trump seems to be acting on his own now: He is set to overrule cabinet and unleash a vicious global trade war
( zero hedge)
iii)Project Veritas hits CNN again where it shows its internal culture of hate and the creation of fake news:
( ZEROPOINTNOW/Project Veritas)
iv)This is fascinating: Trump is now calling for the “immediate’” repeal of Obamacare is the Senate deal falls apart. He then advocates a new deal in 6 months or so
v)This will not be good for 2nd quarter GDP: Personal consumption falters and together with a fall in the deflator causes the savings rate in the USA to soar. Also the UK savings rate also soared which puts a damper on the economy:( zero hedge)
vi)What a joke: soft data Chicago PMI spikes to 3 yr highs and beats by 7 standard deviations while at the same time Chicago and the state of Illinois cannot get a budget together for over 3 years:
what a farce..
vii)Soft data U. of Michigan Consumer Confidence slips to 7 month lows..hope fades..
( zero hedge)
Let us head over to the comex:
The total gold comex open interest SURPRISINGLY ROSE BY 116 CONTRACTS UP to an OI level of452,684 DESPITE THE FALL IN THE PRICE OF GOLD ($3.30 with YESTERDAY’S trading). An open interest of around 390,000 to 400,000 is core and nothing will move these guys from their contracts.
We are now in the contract month of JULY and it is one of the POORER delivery months of the year. .
The non active July contract LOST 204 contracts to stand at 146 contracts.Thus by definition this is the amount of gold standing initially in July: 146 contracts x 100 oz per contract = 14,600 oz or.4541 tonnes. The next big active month is August and here the OI LOST 3,796 contracts DOWN to 294,309, as the bankers trying to keep this month down to manageable size. The next active delivery month is October and here we gained 337 contracts up to 16,252. October is the poorest of the active gold delivery months as most players move right to December.
We had 30 notice(s) filed upon today for 3000 oz
We are now in the next big active month will be July and here the OI LOST 9,2268 contracts DOWN to 2,423 . Thus by definition, the amount of silver standing in July is 2,423 x 5000 oz = 12,115,000 oz
The month of August, a non active month picked up 22 contracts to stand at 432. The next big active delivery month for silver will be September and here the OI already jumped by another 7,021 contracts up to 152,221.
The line in the sand is $18.50 for silver and again it has been defended by the criminal bankers. Once this level is pierced, the monstrous billion oz of silver shorts will blow up. The bankers are defending the Alamo with their last stand at the $18.50 mark. THE NEW RECORD HIGH IN OPEN INTEREST WAS SET FRIDAY APRIL 21/2017 AT: 234,787.
As for the July contracts:
Initial amount that stood for silver for the July 2016 contract: 14.785 million oz
Final standing JULY 2016: 12.370 million with the difference being EFP’s taking delivery in London. Thus we are basically on par to what happened a year ago as to the total amount of silver ounces standing.
We had 878 notice(s) filed for 4,390,000 oz for the June 2017 contract
VOLUMES: for the gold comex
Today the estimated volume was 115,920 contracts which is poor
Yesterday’s confirmed volume was 297,681 contracts which is GOOD
volumes on gold are STILL HIGHER THAN NORMAL!
|Withdrawals from Dealers Inventory in oz||nil|
|Withdrawals from Customer Inventory in oz||
|Deposits to the Dealer Inventory in oz||NIL oz|
|Deposits to the Customer Inventory, in oz||
|No of oz served (contracts) today||
|No of oz to be served (notices)||
|Total monthly oz gold served (contracts) so far this month||
|Total accumulative withdrawals of gold from the Dealers inventory this month||NIL oz|
|Total accumulative withdrawal of gold from the Customer inventory this month||NIL oz|
Today, 0 notice(s) were issued from JPMorgan dealer account and 12 notices were issued from their client or customer account. The total of all issuance by all participants equates to 30 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.
|Withdrawals from Dealers Inventory||nil|
|Withdrawals from Customer Inventory||
|Deposits to the Dealer Inventory||
|Deposits to the Customer Inventory||
|No of oz served today (contracts)||
|No of oz to be served (notices)||
( 7,725,000 oz)
|Total monthly oz silver served (contracts)||878 contracts (4,390,000 oz)|
|Total accumulative withdrawal of silver from the Dealers inventory this month||NIL oz|
|Total accumulative withdrawal of silver from the Customer inventory this month||107,979.941 oz|
NPV for Sprott and Central Fund of Canada
Sprott’s hostile 3.1 billion bid to take over Central Fund of Canada
Sprott makes hostile $3.1 billion bid for Central Fund of Canada
Submitted by cpowell on Thu, 2017-03-09 01:19. Section: Daily Dispatches
From the Canadian Press
via Canadian Broadcasting Corp. News, Toronto
Wednesday, March 8, 2017
Toronto-based Sprott Inc. said Wednesday it’s making an all-share hostile takeover bid worth $3.1 billion US for rival bullion holder Central Fund of Canada Ltd.
The money-management firm has filed an application with the Court of Queen’s Bench of Alberta seeking to allow shareholders of Calgary-based Central Fund to swap their shares for ones in a newly-formed trust that would be substantially similar to Sprott’s existing precious metal holding entities.
The company is going through the courts after its efforts to strike a friendly deal were rebuffed by the Spicer family that controls Central Fund, said Sprott spokesman Glen Williams.
“They weren’t interested in having those discussions,” Williams said.
Sprott is using the courts to try to give holders of the 252 million non-voting class A shares a say in takeover bids, which Central Fund explicitly states they have no right to participate in. That voting right is reserved for the 40,000 common shares outstanding, which the family of J.C. Stefan Spicer, chairman and CEO of Central Fund, control.
If successful through the courts, Sprott would then need the support of two-thirds of shareholder votes to close the takeover deal, but there’s no guarantee they will make it that far.
“It is unusual to go this route,” said Williams. “There’s no specific precedent where this has worked.”
Sprott did have success last year in taking over Central GoldTrust, a similar fund that was controlled by the Spicer family, after securing support from more than 96 percent of shareholder votes cast.
The firm says Central Fund’s shares are trading at a discount to net asset value and a takeover by Sprott could unlock US$304 million in shareholder value.
Central Fund did not have any immediate comment on the unsolicited offer. Williams said Sprott had not yet heard from Central Fund on the proposal but that some shareholders had already contacted them to voice their support.
Sprott’s existing precious metal holding companies are designed to allow investors to own gold and other metals without having to worry about taking care of the physical bullion.
And now the Gold inventory at the GLD
June 30/no change in gold inventory at the GLD/Inventory rests at 853.66 tonnes
June 29/no change in inventory at the GLD/inventory rests at 853.66 tonnes
June 28/no change in inventory at the GLD/Inventory rests at 853.66 tonnes
June 27.2017/a deposit of 2.64 tonnes into the GLD/inventory rests at 853.66 tonnes
June 26/a withdrawal of 2.66 tonnes from the GLD and this gold no doubt was part of the raid/Inventory rests at 851.02
June 23/no change in gold inventory at the GLD/Inventory rests at 853.68 tonnes
June 22/no change in gold inventory at the GLD/Inventory rests at 853.68 tonnes
June 21/no change in gold inventory at the GLD/Inventory rests at 853.68 tonnes
June 20/no change in gold inventory at the GLD//Inventory rests at 853.68 tonnes
June 19/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 853.68 TONNES
June 16/no changes in gold inventory at the GLD/Inventory rests at 853.68 tonnes
June 15/ a monstrous “paper” withdrawal of 13.32 tonnes/Inventory rests at 853.68 tonnes
June 14./NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 867.00 TONNES
June 13. No change in gold inventory at the GLD/Inventory rests at 867.00 tonnes
June 12/No change in gold inventory at the GLD/Inventory rests at 867.00 tonnes
June 9/no change in inventory at the GLD/Inventory rests at 867.00 tonnes
June 8/AN ADDITION OF 3.07 TONNES OF GOLD ADDED TO THE GLD/INVENTORY RESTS AT 867.00 TONNES
June 7 a huge change in inventory/a deposit of 13.93 tonnes/inventory rests at 864.93 tonnes
June 6/ no changes in inventory at the GLD/Inventory remains at 851.00 tonnes
June 5.2017/no changes at the GLD/Inventory remain at 851.00 tonnes
June 2/2017/a huge deposit of 3.55 tonnes of gold into the GLD/Inventory rests at 851.00 tonnes
June 1/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 847.45 TONNES
May 31./ no change in gold inventory at the GLD/Inventory rests at 847.45 tonnes
May 30/no change in gold inventory at the GLD/Inventory rests at 847.45 tonnes
May 26./no change in inventory at the GLD/Inventory rests at 847.45 tonnes
May 25./no change in inventory at the GLD/Inventory rests at 847.45 tonnes
May 24/no change in inventory at the GLD/inventory rests at 847.45 tonnes
May 23/a paper withdrawal of 5.03 tonnes of gold from the GLD/Inventory rests at 847.45 tonnes
May 22/A DEPOSIT OF 1.77 TONNES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 852.48 TONNES
May 19/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 850.71 TONNES
May 18/a withdrawal of 1.18 tonnes of gold from the GLD/Inventory rests at 850.71
May 17/no change in the GLD inventory/inventory rests at 851.89 tonnes
Now the SLV Inventory
June 30/no change in silver inventory at the SLV/Inventory rests at 339.226 million oz
June 29/no change in silver inventory at the SLV/Inventory rests at 339.226 million oz/
June 28/ a small withdrawal of 662,000 oz form the SLV/Inventory rests at 339.226 million oz/
June 27/no change in the silver inventory at the SLV/Inventory rests at 339.888 million oz/
June 26/no change in the silver inventory at the SLV/Inventory rests at 339.888 million oz/
June 23/no change in silver inventory at the SLV/Inventory rests at 339.888 million oz
June 22/ a big change; a huge deposit of 2.175 million oz into the SLV/Inventory rests at 339.888 million oz
June 21/no change in silver inventory at the SLV/inventory rests at 337.713 million oz
June 20/a deposit of 1.513 million oz/inventory rests at 337.713 million oz/.
June 19/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 336.200 MILLION OZ
June 16/no changes in inventory at the SLV/inventory rests at 336.200 million oz
June 15/ a massive “paper withdrawal” of 3.405 million oz of silver/Inventory rests at 336.200 million oz/
June 14/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 339.605 MILLION OZ/
June 13/no change in silver inventory at the SLV/Inventory rests at 339.605 million oz
June 12/no change in silver inventory at the SLV/Inventory rests at 339.605 million oz/
June 9/no change in silver inventory at the SLV/Inventory rests at 339.605 million oz/
June 8/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 339.605 MILLION OZ/
June 7/no change in inventory at the SLV/inventory rests at 339.605 million oz/
June 6/no change in inventory at the SLV/Inventory rests at 339.605 million oz.
June 5/a huge change at the SLV/a withdrawal of 1.371 million oz /inventory rests at 339.605 million oz/
June 2/no change in silver inventory at the SLV/Inventory rests at 340.976 million oz/
June 1/NO CHANGE IN INVENTORY AT THE SLV/INVENTORY RESTS AT 340.976 MILLION OZ
May 31./ no change in silver inventory at the SLV/inventory rests at 340.976 million oz/
May 30/no change in silver inventory at the SLV/inventory rests at 340.976 million oz
May 26/another paper withdrawal of 946,000 oz of silver from the SLV with silver rising/inventory rests at 340.976 million oz
May 25/no change in silver inventory at the SLV/Inventory rests at 341.922 million oz
May 24./a “paper” withdrawal of 1.893 million oz from the SLV/inventory rests tonight at 341.922 million oz
May 23/no change in silver inventory at the SLV/inventory rests at 343.815 million oz
May 19/no change in silver inventory at the SLV/Inventory rests at 343.815 million oz.
may 18/2017/another big deposit of 1.42 million oz added to the SLV/inventory rests at 343.815 million oz.
may 17/no change in silver inventory at the SLV/Inventory rests at 342.395 million oz