Somebody BIG Is Standing For August Delivery of COMEX Gold! – Harvey Organ

gold vaultSomebody BIG is continually standing for gold and continues to do so in August in the same manner as we witnessed in May, June, and July…

 

DELIVERIES AT THE GOLD COMEX TOTAL ALMOST 44 TONNES/ AMOUNT STANDING FOR SILVER IN AUGUST ALSO RISES/GOLD AND SILVER RISE DURING PHYSICAL TIME ZONES (CHINA) BUT WHACKED BACK ONCE LONDON PUT TO BED/ENGLAND CANNOT MONETIZE LONG TERM BONDS BECAUSE NOBODY WANTS TO PART WITH THEM AND THUS A FAILURE IN THE GILT MARKET/DEUTSCHE BANK FAILES THE ZEW STRESS TEST

90% Junk Silver Bags at SD Bullion
As Low As $1.29/oz Over Spot!

 

Gold:1344.30 UP $5.30

Silver 20.13  up 32  cents

In the access market 5:15 pm

Gold: 1347.00

Silver: 20.17

.

For the August gold contract month,  we had a good sized 102 notices served upon for 10,200 ounces.The total number of notices filed so far for delivery:  11,645 for 1,164,500 oz or  tonnes or 36.221 tonnes

In silver we had 3 notices served upon for 15,000 oz. The total number of notices filed so far this month:  274 for 1,370,000 oz.

 
 
 

Let us have a look at the data for today

.

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In silver, the total open interest FELL BY A LARGE 4,597 contracts DOWN to 210,647 YET  STILL CLOSE AN ALL TIME NEW ALL TIME RECORD DESPITE THE FACT THAT THE  PRICE OF SILVER ROSE  BY 4 CENTS WITH YESTERDAY’S TRADING.In ounces, the OI is still represented by just over 1 BILLION oz i.e. 1.053 BILLION TO BE EXACT or 150% of annual global silver production (ex Russia &ex China).

In silver we had 3 notices served upon for 15,000 oz

In gold, the total comex gold ROSE  605 contracts as the price of gold ROSE by $4.60 YESTERDAY. The total gold OI stands at 575,399 contracts.

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With respect to the GLD and the SLV:

GLD

we had no changes in GLD/

Total gold inventory rest tonight at: 972.62 tonnes

SLV

we had no changes in the SLV, /   THE SLV/Inventory rests at: 351.765 million oz.

First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver FELL by 2,518 contracts DOWN to 215,244 as price of silver ROSE BY 4 cents with YESTERDAY’S trading.The gold open interest FELL 2,696 contracts DOWN to 574,794 as the price of gold ROSE by $4.60 WITH YESTERDAY’S TRADING.

(report Harvey).

 

2 a) Gold/silver trading overnight Europe, Goldcore

(Mark OByrne/zerohedge

3. ASIAN AFFAIRS

i)Late  TUESDAY night/WEDNESDAY morning: Shanghai closed DOWN 6.93 POINTS OR 0.23%/ /Hang Sang closed UP 26.82 points or 0.12%. The Nikkei closed DOWN 29.85POINTS OR 0.18% Australia’s all ordinaires  CLOSED DOWN 0.16% Chinese yuan (ONSHORE) closed UP at 6.6318/Oil FELL to 42.58 dollars per barrel for WTI and 44.92 for Brent. Stocks in Europe ALL IN THE RED . Offshore yuan trades  6.6318 yuan to the dollar vs 6.6318 for onshore yuan.

THE SPREAD BETWEEN ONSHORE AND OFFSHORE WIDENS HUGELY AS CHINA TRIES TO STOP MORE USA DOLLARS LEAVING THEIR SHORES

 

REPORT ON JAPAN  SOUTH KOREA AND CHINA

a) REPORT ON JAPAN

Two important points here:

  1. the Bank of Japan realizing it is in trouble pre-released a draft for the Sept meeting.
  2. No real tapering of bond purchases
  3. They are probably up against the same problem that England has: offerless bonds from the public as they keep scarce bonds.

the USA/Yen fell badly  (Yen rose) when the street realized that Japan was coming to the end of the road of monetization.

( zero hedge)

 

b) REPORT ON CHINA

none today

4 EUROPEAN AFFAIRS

i)ENGLAND

This stunned the street last night as the Bank of England could not fulfill its purchase of bonds as the public decided to keep much of their bonds due to their yield.

( zero hedge)

ii)FRANCE

This is to be expected!  French tourism tumbles 10% on average:

(courtesy Mish Shedlock)

iiiGERMANY

 
If the ZEW calculation is used to calculate stress, then Deutsche bank has some serious problems.  The ZEW calculation shows a capital gap of 19 billion euros and with only 17 billion euros of retained earnings, these guys are in serious trouble
(courtesy zero hedge)
 
iv) Italy
 

This is totally nuts:  1 yr Italian paper :  -0.19%.  Italy is a total bankrupt state and you have the privilege of  paying Italy for loaning them  money!

( zerohedge)

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

It appears that Russia is not so isolated after all.  Turkey makes peace with Russian and now the mothballed Turkish stream gas pipeline is now alive and well.  Turkey warns that west that they may be heading eastward.  The west reminds Ankara that is a NATO member and houses a boatload of nuclear missiles in Incirlik

(courtesy zerohedge)

6.GLOBAL ISSUES

We now have another country joining in on the rate cuts:New Zealand.  However the Kiwi soared to a one year high as everyone expected a bigger cut

( zero hedge)

7.OIL ISSUES

Crude plunges after another surprising build,  Also a good gasoline draw and a production cut did not help

( zero hedge)

8.EMERGING MARKETS

 none

9.PHYSICAL STORIES

i)Gold and silver trading early this morning; As I promised you yesterday, the poor productivity number is having a devastating effect on markets;

(courtesy zero hedge)

ii)We brought this to your attention last night.  It seems that the LME is anxious to get investors to turn real gold into paper gold.  They key line here:  non allocated gold is used for delivery purposes.

First official story!

(reuters)

iii)Second story:

 

Craig Hemke comments:

We brought this to your attention last night.  It seems that the LME is anxious to get investors to turn real gold into paper gold.  They key line here:  non allocated gold is used for delivery purposes.

( Craig Hemke/TFMetals)

iv)Third story:

Ronan Manly comments!

v)

Bill Holter talks with Greg Hunter:

( Greg Hunter /USAWatchdog/Bill Holter)

 

 

10.USA STORIES WHICH MAY INFLUENCE THE PRICE OF GOLD/SILVER

i)WOW!! Assange tells the world that murdered DNC staffer was the email leaker and has offered a 20,000 reward for information.  Thus the assassination was politically motivated:

( zero hedge)

ii)Job openings rebound.  Also the number of workers quitting drop

( zero hedge)

iii) The all important report card on the consume filed by Ban of America shows that the consumer finally showed significant slowdown in spending! Remember the consumer is 70% of GDP

(zero hedge)

Let us head over to the comex:

The total gold comex open interest ROSE TO AN OI level of 575,399 for a GAIN of 605 contracts as  THE PRICE OF GOLD ROSE BY $4.60 with YESTERDAY’S TRADING..   We are now in the active month of AUGUST. As I stated this month : “Somebody big is continually standing for the gold metal and continues to do so in August in the same manner as we witnessed in May,  June and July  whereby the front delivery month increases in OI standing for metal or a slight contraction We will no doubt see increases in amount standing in August and probably we will surpass the amount standing on first day notice.  
The  big active contract month of August saw it’s OI ROSE by 80 contracts UP to 2581,  We had 267 notices filed upon yesterday so we GAINED 347 contracts or an additional 34,700 oz will stand for delivery in August.  The next contract month of Sept saw it’s OI fall by 511 contracts down to 5,412.  The September contract STILL remains extremely elevated and we may have another of those high deliveries rare for a non active month.  The next active delivery month is October and here the OI fell by 1112 contracts down to 46,889.
The estimated volume today (which is just comex sales during regular business hours of 8:20 until 1:30 pm est) was extremely poor at 238,122.  The confirmed volume  yesterday (which includes the volume during regular business hours + access market sales the previous day was FAIR at 142,911 contracts.  The comex is not in backwardation.
 
Today, we had  102 notices filed for 10,200 oz in gold
 
And now for the wild silver comex results. Total silver OI FELL by 4,597 contracts from 215,244 DOWN TO 210,647 despite the RISE in price of silver to the tune of 4 cents.  We are still close to an all time record high for silver open interest set ON Wednesday AUGUST 3: (224,540). The  non active month of August saw it’s OI fall by 59 contracts down to 190. We had 61 notices served yesterday so we gained 2 contracts or an additional 10,000 oz will stand in this non active delivery month of August. The next big active month is September and here the OI fell by 7,587 contracts down to 122.-51. The volume on the comex today (just comex) came in at 83,228 which is huge and small rollovers..The confirmed volume yesterday (comex + globex) was excellent at 59,017 with tiny rollovers.. Silver is not in backwardation. London is in backwardation for several months.
 
 
We had 3 notices filed for today for 15,000 oz
 
INITIAL standings for AUGUST
 August 10.
Gold
Ounces
Withdrawals from Dealers Inventory in oz   nil OZ
Withdrawals from Customer Inventory in oz  nil
 
 
385.800  oz
SCOTIA
12 KILOBARS
 
 
Deposits to the Dealer Inventory in oz nil
Deposits to the Customer Inventory, in oz 
nil
 
 
 
 
 
 
No of oz served (contracts) today
102 notices 
10,200 oz
No of oz to be served (notices)
2479 contracts
247,900 oz
 
Total monthly oz gold served (contracts) so far this month
11,645 contracts (1,164,500 oz)
(36.221 tonnes)
Total accumulative withdrawals  of gold from the Dealers inventory this month   NIL
Total accumulative withdrawal of gold from the Customer inventory this month    99,793.6 OZ
Today:  SMALL activity at the gold comex AND MANY KILOBAR ENTRIES
 
Today we had 0 dealer DEPOSIT
 
 
 
 
total dealer deposit: NIL    0z
 
 
Today we had  0 dealer withdrawals:
total dealer withdrawals:  nil oz
 
 
 
We had 0 customer deposits:
 
 
 
 
Total customer deposits: NIL oz
 
 
 
Today we had one withdrawal
 
 i) Out of SCOTIA:  385.800    (12 KILOBARS)
 
Total customer withdrawals  385.800 OZ
 
 
 
 
 
Today we had 2adjustmentS:
i) out of DELAWARE:  500.000 oz was adjusted out of the CUSTOMER and this landed into the DEALER account of DELAWARE:?? HOW COULD THIS BE POSSIBLE???
ii) out of SCOTIA: 7052.252oz was adjusted out of the dealer and this landed into the customer account of Scotia. (deemed a settlement) total .9376 tonnes
 
 
Note: If anybody is holding any gold at the comex, you must be out of your mind!!!
since comex gold storage is unallocated , rest assured any gold stored will be compromised!
 
 
 
Today, 0 notices was 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 102 contracts of which 0 notices was stopped (received) by JPMorgan dealer and 76 notices was stopped (received)  by JPMorgan customer account. 
 
To calculate the initial total number of gold ounces standing for the AUGUST  contract month, we take the total number of notices filed so far for the month (11,645) x 100 oz  or 1,164,500 oz , to which we  add the difference between the open interest for the front month of AUGUST  (2581 CONTRACTS) minus the number of notices served upon today (102) x 100 oz   x 100 oz per contract equals 1,412,000 oz, the number of ounces standing in this active month. 
 
Thus the INITIAL standings for gold for the AUGUST contract month:
No of notices served so far (11,645) x 100 oz  or ounces + {OI for the front month (2581) minus the number of  notices served upon today (102) x 100 oz which equals 1,361,900 oz standing in this non  active delivery month of AUGUST  (43.9315 tonnes).
 
We gained 347 contracts or additional 34,700 oz will stand for metal in this active month of August.
 
 
 
 
 
 
 
 
 
 
Since the comex allows GLD shares to be used for settling, it may take quite a while for the physical gold to enter the comex vaults.  So far I have seen little evidence of any settling of contracts but I will continue to monitor it for you. 
 
 
We now have partial evidence of gold settling for last months deliveries We now have  +  6.889 TONNES FOR MAY + 49.09 TONNES FOR JUNE +  21.452 TONNES FOR JULY + 12.3917 + 43.9315 tonnes Aug +  tonnes (April) +2.2311 tonnes (March) + 7.99 (total Feb)- .940 (probable delivery on March 1) tonnes -.0434 tonnes (March 11,12,17,18) + March 31: 1.2470 and then  April 1,2: – .0006 tonnes  and last week April 16.3203 and April 22 .(0009 tonnes) + april 29  .205 tonnes + May 5:  3.799 and May 6: 1.607 tonnes –MAY 12  .0003- May 18: 1.5635 tonnes-May 19/   2.535 tonnes-May 27 .0185 – .024 TONNES MAY 31 -jUNE 4: .5044 ; june 10 -.0008 / June 22:0.48 tonnes /June 23: 0489 tonnes, June 24..018; june 29 .036 tonnes; JUNE 30 2.49 /july 1 1778 tonnes, JULY 28 .089 TONNES / JULY 29 .128 TONNES/ aUG 10 .219 TONNES/THEREFORE 94.14 tonnes still standing against 73.845 tonnes available.
 
 Total dealer inventor 2,374,139.901 oz or 73.845 tonnes
Total gold inventory (dealer and customer) =11,348,142.617 or 352.974 tonnes 
 
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 352.974 tonnes for a  gain of 50  tonnes over that period. 
 
 
 

THE GOLD COMEX IS AN ABSOLUTE FRAUD. THE USE OF KILOBARS AND EXACT WEIGHTS MAKES THE DATA TOTALLY ABSURD AND FRAUDULENT!!

To me, the only thing that makes sense is the fact that “kilobars” are entries or hypothecated gold sent to other jurisdictions so that they will not be short in their derivatives like in England.  This would be similar to the gold used by Jon Corzine. If this is the case, this would be the greatest fraud perpetrated on USA soil.

 

 
 
 
 end
 
 
 
 
And now for silver
 
AUGUST INITIAL standings
 august 10.2016
Silver
Ounces
Withdrawals from Dealers Inventory NIL
Withdrawals from Customer Inventory
649,540.591 oz
 
 
CNT
 
Deposits to the Dealer Inventory
 
nil
 
 
 
 
Deposits to the Customer Inventory
 
 
 
 
626,095.900 oz
 
JPM
 
 
No of oz served today (contracts)
3 CONTRACTS
(305,000 OZ)
No of oz to be served (notices)
187 contracts
935,000 oz)
Total monthly oz silver served (contracts) 274 contracts (1,370,000 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  7,207,496.1 oz
today we had 0 deposit into the dealer account:
 
 
 Total dealer deposits;  NIL oz
 
 
 
we had 0 dealer withdrawal:
:
total dealer withdrawals:  NIL oz
 
 
we had 1 customer withdrawals:
 
ii) Out of CNT:  649,540.591 oz
 
 
 
 
 
Total customer withdrawals: 649,540.591 oz
 
We had 1 customer deposits:
 
ii) Into JPMorgan:626,095.900
total customer deposits:  626,095.900  oz
 
 
 
 
 
 
 
 
 
 we had 1 adjustment
i)out of DELAWARE:  59,932.148 was adjusted out of the dealer account and this landed into the customer account of DELAWARE
 
 
 
 
 
 
The total number of notices filed today for the AUGUST contract month is represented by 1 contract for 5,000  oz. To calculate the number of silver ounces that will stand for delivery in AUGUST., we take the total number of notices filed for the month so far at (274) x 5,000 oz  = 1,370,000 oz to which we add the difference between the open interest for the front month of AUGUST (190) and the number of notices served upon today (3) x 5000 oz equals the number of ounces standing 
 
Thus the initial standings for silver for the AUGUST contract month:  274(notices served so far)x 5000 oz +(190 OI for front month of AUGUST ) -number of notices served upon today (3)x 5000 oz  equals  2,305,000 oz  of silver standing for the AUGUST contract month.
 
we gained 2 contracts or an additional 10,000 oz will  stand for delivery in this non active month of August.
 
 
 
 
 
 
 
Total dealer silver:  27.485 million (close to record low inventory  
 
Total number of dealer and customer silver:   152.876 million oz (close to a record low)
 
The total open interest on silver is NOW close to its all time high with the record of 224,540 being set AUGUST 3.2016.  The registered silver (dealer silver) is NOW NEAR  multi year lows as silver is being drawn out at both dealer and customer levels and heading to China and other destinations. The shear movement of silver into and out of the vaults signify that something is going on in silver.
 
 
 
 
 
END
 
And now the Gold inventory at the GLD
August 10/no changes in GLD/Inventory rests at 972.62 tonnes
August 9/we had a withdrawal of 1.18 tonnes of gold from the GLD inventory/inventory rests at 972.62 tonnes
August 8/a huge changes in the GLD/Inventory, a withdrawal of 6.54 tonnes of paper gold/ rests at 973.80 tonnes of gold/
August 5/ a huge deposit of 10.69 tonnes of gold (with gold down $22.40??)/GLD inventory rests at 980.34 tonnes
August 4/no change in inventory at the GLD/Inventory rests at 969.65 tonnes
August 3/a big deposit of 5.62 tonnes of paper gold/Inventory rests at 969.65 tonnes
August 2/no change in gold inventory at the GLD/Inventory rests at 964.03 tonnes
August 1/we had a huge paper deposit of 5.94 tonnes of gold into the GLD/Inventory rests at 964.03 tonnes
July 29/ we had a huge deposit of 3.86 tonnes into the GLD/inventory rests at 958.09 tonnes
July 28/no changes in gold inventory at the GLD/Inventory rests at 954.23 tonnes
July 27/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 954.23 TONNES
jULY 26./ANOTHER HUGE PAPER WITHDRAWAL OF 4.46 TONNES FROM THE GLD/INVENTORY RESTS AT 954.23 TONNES
JULY 25/ A HUGE PAPER WITHDRAWAL OF 4.45 TONNES FROM THE GLD/INVENTORY RESTS AT 958.69 TONNES
July 22/ no change in gold inventory at the GLD/Inventory rests at 963.14 tonnes
July 21/ a large withdrawal of gold inventory to the tune of 2.08 tonnes/Inventory rests at 963.14 tonnes
July 20./no changes in gold inventory at the GLD/Inventory rests at 965.22 tonese
July 19/no change in gold inventory at the GLD/Inventory rests at 965.22 tonnes
July 18./ a good sized deposit of 2.37 tonnes of gld into GLD/this is a paper gold entry/inventory rests at 965.22 tonnese
 
 
 
 
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August 10/ Inventory rests tonight at 972.62 tonnes
 

end

 
 
Now the SLV Inventory
August 10/no changes in silver inventory at the SLV/Inventory rests at 351.765 oz
August 9/a deposit of 950,000 oz into the SLV/Inventory rests at 351.765 oz
August 8/no change in silver inventory at the SLV/Inventory rests at 350.815 million oz.
August 4/no change in silver inventory at the SLV/inventory rests at 350.815 million oz
August 3/no change in silver inventory/inventory rests at 350.815 million oz
August 2/ we had a tiny withdrawal of 40,000 oz of silver/Inventory rests at 350.815 million oz
August 1/we had a huge paper deposit of 1.235 million oz into the SLV/Inventory rests at 350.955 million oz
July 29/we had no change in silver inventory/inventory rests at 349.720 million oz
July 28/we had 1.14 million oz of additional silver added to the SLV/Inventory rests at 349.720 million oz
July 27/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 348.580 MILLION OZ
jULY 26/NO CHANGE IN SILVER INVENTORY AT THE slv/INVENTORY RESTS AT 348.580 MILLION OZ
JULY 25/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 348.580 MILLION OZ
July 22/we had no change in silver inventory at the SLV.Inventory rests at 348.580 million oz/
July 21/no change in silver inventory at the SLV/Inventory rests at 348.580 million oz
July 20/no change in silver inventory at the SLV/Inventory rests at 348.580 million oz
July 19/no change in silver inventory at the SLV/Inventory rests at 348.580 million oz
July 18/no change in silver inventory at he SLV/inventory restss at 348.580 million oz
 
 
 
.
August 10.2016: Inventory 351.765 million oz
 
 
 
 

NPV for Sprott and Central Fund of Canada

 
1. Central Fund of Canada: traded at Negative 5.6 percent to NAV usa funds and Negative 5.5% to NAV for Cdn funds!!!!  (the discount is starting to disappear)
Percentage of fund in gold 58.8%
Percentage of fund in silver:40.1%
cash .+1.1%( August 10/2016).
 
2. Sprott silver fund (PSLV): Premium rises  to +1.59%!!!! NAV (august 10/2016) 
3. Sprott gold fund (PHYS): premium to NAV  rises TO  1.24% to NAV  ( august 10/2016)
Note: Sprott silver trust back  into POSITIVE territory at +1.59% /Sprott physical gold trust is back into positive territory at 1.24%/Central fund of Canada’s is still in jail.