Cable FLASH CRASH! – Harvey Organ

Harvey OrganGreat Britain Pound/USA dollar collapses in a flash crash ahead of Carney’s speech:

 

GOLD STANDING FOR DELIVERY IN OCT INCHES CLOSER AND CLOSER TO 30 TONNES/GLD ADDS 3.27 TONNES TO ITS INVENTORY/THE BRITISH POUND HAS ANOTHER FLASH CRASH TODAY/WIKILEAKS EXPOSES A COVER UP WITH CLINTON AND HER GANG/USA SET TO SEIZE ASSETS OF VENEZUELA’S STATE OWNED OIL COMPANY/USA CONSUMER CONFIDENCE FALTERS AGAIN

On Sale At SD Bullion…
This Week Only…
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Gold $1271.90 up  $9.90

Silver 17.74 UP 18 cents

In the access market 5:15 pm

Gold: 1274.50

Silver: 17.77

THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON

.

The Shanghai fix is at 10:15 pm est and 2:15 am est

The fix for London is at 5:30  am est (first fix) and 10 am est (second fix)

Thus Shanghai’s second fix corresponds to 195 minutes before London’s first fix.

And now the fix recordings:

Shanghai morning fix OCT 25 (10:15 pm est last night): $  1267.47

NY ACCESS PRICE: $1264.50 (AT THE EXACT SAME TIME)

Shanghai afternoon fix:  2: 15 am est (second fix/early  morning):$   1272.13

NY ACCESS PRICE: 1267.00 (AT THE EXACT SAME TIME)

HUGE SPREAD TODAY!!  5 dollars

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London Fix: OCT 25: 5:30 am est:  $1269.30   (NY: same time:  $1268.90:    5:30AM)

London Second fix OCT 24: 10 am est:  $1267.40  (NY same time: $1267.60 ,    10 AM)

Shanghai premium in silver over NY:  70 cents.

It seems that Shanghai pricing is higher than the other  two , (NY and London). The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price. This should drain the comex.

Also why would mining companies hand in their gold to the comex and receive constantly lower prices.  They would be open to lawsuits if they knowingly continue to supply the comex despite the fact that they could be receiving higher prices in Shanghai.

end

For comex gold:

250  NOTICES FILED FOR 25,000 OZ

For silver:

for the Oct contract month:  4 notices for 20,000 oz.

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Let us have a look at the data for today

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In silver, the total open interest ROSE by 1,650 contracts UP to 193,979. The open interest ROSE as the silver price was UP 11 cents in yesterday’s trading .In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. .969 BILLION TO BE EXACT or 139% of annual global silver production (ex Russia &ex China).

In silver for October we had 4 notices served upon for 20,000 oz

In gold, the total comex gold ROSE by 6,185 contracts DESPITE the FALL  in price of gold ($3.90 YESTERDAY) . The total gold OI stands at 506,768 contracts.

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With respect to our two criminal funds, the GLD and the SLV:

GLD

TODAY WE HAD A BIG CHANGE AT THE GLD: A DEPOSIT OF 3.27 TONNES INTO THE GLD

Total gold inventory rests tonight at: 956.83 tonnes of gold

SLV

we had NO CHANGES at the SLV/

THE SLV Inventory rests at: 366.366 million oz

.

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

1. Today, we had the open interest in silver ROSE by 1,650 contracts UP to 193,979 as the price of silver ROSE by 11 cents with yesterday’s trading.The gold open interest ROSE by 6,185 contracts UP to 506,768 as the price of gold FELL $3.90 IN YESTERDAY’S TRADING.

(report Harvey).

2.a) The Shanghai and London gold fix report

(Harvey)

 

2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY:  Bloomberg

3. ASIAN AFFAIRS

i)Late  MONDAY night/TUESDAY morning: Shanghai closed UP 3.69 POINTS OR 0.12%/ /Hang Sang closed DOWN 308.97  OR .17%. The Nikkei closed UP 130.83 POINTS OR 0.76% Australia’s all ordinaires  CLOSED UP 0.63% /Chinese yuan (ONSHORE) closed DOWN at 6.7765/Oil ROSE to 50.77 dollars per barrel for WTI and 51.56 for Brent. Stocks in Europe: ALL MIXED   Offshore yuan trades  6.7822 yuan to the dollar vs 6.7765  for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS  AS MORE USA DOLLARS ATTEMPT TO LEAVE CHINA’S SHORES / CHINA SENDS A MESSAGE TO THE USA TO NOT RAISE RATES IN DECEMBER.

REPORT ON JAPAN  SOUTH KOREA NORTH KOREA AND CHINA

3a)THAILAND/SOUTH KOREA

none today

b) REPORT ON JAPAN

none today

c) REPORT ON CHINA

4 EUROPEAN AFFAIRS

i)GERMANY

Germany conducts 13 anti terrorism raids across 5 German states citing imminent terror threat. Nobody arrested yet;

( zero hedge)

ii)ITALY

Monte de Paschi records a huge loss again but the stock declines not because of the loss but because of a proposed debt swap with existing bond holders

( zero hedge)

iii)GREAT BRITAIN

Great Britain Pound/USA dollar collapses in a flash crash ahead of Carney’s speech:

trading this morning: 1.2120

(courtesy zero hedge)

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

none today

6.GLOBAL ISSUES

i)Today, Caterpillar warns of economic weakness throughout the globe and cuts guidance again

( zero hedge)

ii)Top University faked results and scammed huge amounts of taxpayer money

Global warming in itself is a scam

( Mish Shedlock/Mishtalk)

7.OIL ISSUES

i)There is really no chance of a deal as Russia is against production cuts. Oil falls below 50 dollars again.

( zero hedge)

ii)Suddenly at the end of the day, oil tumbles with a large inventory build:

( zero hedge)

8.EMERGING MARKETS

i)Venezuela narrowly escapes bankruptcy with a debt swap to save their national oil company but this will only last for a short while:  oil production continues to plung

(courtesy Nick Cunningham /Oil Price.com)

ii)Oh OH!! this is interesting:  the uSA is now said to be closing in on PDVSA seizures due to fraud

( Bloomberg/Bartenstein)

9.PHYSICAL STORIES

i)A great interview of Bill Holter

( SGT/Bill Holter)

 

ii)John Embry comments on the huge debt in the USA at over 106% of GDP. He also comments on Alasdair Macleod’s paper where he states that the true gold price is 8 or 9 x the current price

( John Embry/Kingworldnews)

 

iii)Hugo..how he became a gold bug early in his life.

( Hugo Salinas Price)

iv)Have fun with this: Gold coin worth 250,000 pounds discovered in a child’s pirate collection!

( London Daily Mirror/GATA)

v  i.)Russia intends to sell some of its gold to meet its budgetary deficits.  What will be very harmful is the selling of its vast hoard of diamonds.  Gold did not react because it is obvious that China will purchase all gold that Russia wants to sell

( Pravda/GATA)

 

v ii)Lawrie Williams also comments on the story that Russia may need to sell some gold to boost their current account.  He states that they have done this before and never sell gold

( Lawrie Williams/Sharp’s Pixley)

vi)The centerpiece of the gold fraud:

( Ronan Manly/)

vii)Higher prices and taxes are curbing demand in India for gold. Or maybe the Indians are just smuggling gold into the country.

( Sanderson/London’s Financial times)

ix)The following is very important:  Goldman Sachs sees a rising gold demand in China as their yuan sinks in value

( Goldman Sachs/GATA)

x)Dave Kranzler and Bill Murphy discuss the East’s massive accumulation of gold and they can live with the manipulation as they acquire precious metals on the cheap. Both comment on the fact that we have a huge premium in the price of gold in Shanghai than in NY and this will lead to arbitration

( Bill Murphy/Dave Kranzler IRD)

 

xi)A great commentary on the huge environmental BPH spill in Brazil.  The country may charge the company with homicide due to the 19 deaths due to that spill.  There is also a 44 billion dollar damage lawsuit on this matter.

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

i)The Obama administration now confirms that premiums on Obamacare will surge 25% on average across the board

( zero hedge)

ii)Larry Lindsay former Chair of the Fed and a Gary Johnson supporter states correctly that the most dangerous candidate is the one that the media is paying the least attention to: Hillary Clinton;

( zero hedge)

iii)Home Prices in the USA are now just back to the 2006 record levels

( Case Shiller/zero hedge)

iv)Not a very good sign, the Conference Board’s Consumer Confidence index declines yar over year:

( zero hedge)

v)It sure looks like a huge coverup:  the President is aware of Hillary’s private server well in advance of what he stated on air:( zero hedge)

viDilbert creator Scott Adams comments on why he is supporting Trump and he now emphasizes that he is sure that Trump will win by a landslide

( Dilbert/Scott Adams)

 

Let us head over to the comex:

The total gold comex open interest ROSE BY 6,185 CONTRACTS to an OI level of 506,768 as the price of gold FELL $3.90 with YESTERDAY’S trading.

We are in the delivery month is October and here the OI GAINED 26 contracts UP to 324. We had 0 notices filed YESTERDAY so we GAINED 26 contracts or 2,600 additional oz will stand  for delivery.

The next delivery month is November and here the OI FELL by 258 contract(s) DOWN to 2436 contracts. This level is extremely elevated as generally November is a very poor delivery month.To give you an idea of size, on Oct 24 2015, we had an OI of only 253 contracts standing. Eventually by the end of Nov 2015, 214 notices stood for delivery for 21,400 oz  (.6656  tonnes).The next contract month and the biggest of the year is December and here this month showed an increase of 3,004 contracts up to 373,092.

Today we had  250 notices filed for 25,000 oz of gold.
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And now for the wild silver comex results.  Total silver OI rose by 1,650 contracts from  192,329 up to 193,979 as the  price of silver ROSE to the tune of 11 cents yesterday.  We are moving  further from the all time record high for silver open interest set on Wednesday August 3:  (224,540).  The next non active delivery month is October and here the OI fell by 48 contracts down to 41. We had 48 notices filed yesterday so we NEITHER GAINED NOR LOST ANY SILVER contracts that will stand for delivery.The November contract month saw its OI GAIN 9 contracts UP to 333.   The next major delivery month is December and here it FELL BY 564 contracts DOWN to 148,348.

we had 4 notices filed for 20,000 oz

VOLUMES:

Today the estimated volume was 66,645 contracts which is simply awful.

Yesterday’s confirmed volume was 193,755  which is  fair.

today we had 1 notice filed for 5,000 oz of silver:

INITIAL standings for OCTOBER
 Oct 25.
Gold Ounces
Withdrawals from Dealers Inventory in oz  NIL
Withdrawals from Customer Inventory in oz  nil
6,660.003 oz
DELAWARE
MANFRA
INCL 1 KILOBAR
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz 
 10,933.9956 oz
BRINKS
DELAWARE
No of oz served (contracts) today
250 notices 
25,000 oz
No of oz to be served (notices)
74 contracts
 7400
oz
Total monthly oz gold served (contracts) so far this month
9413 contracts
941,300 oz
29.278 tonnes
Total accumulative withdrawals  of gold from the Dealers inventory this month    oz
Total accumulative withdrawal of gold from the Customer inventory this month    378,888.8 oz
Today we had 1 kilobar transactions,
Today we had 0 deposit into the dealer:
total dealer deposits:  nil oz
We had zero dealer withdrawals:
total dealer withdrawals:  nil oz
.
We had 2 customer deposit;
i) Into Brinks:  6,301.49 oz
ii) Into DELAWARE; 4,632.505 OZ
total customer deposits;10,933.995 oz
We had 2 customer withdrawal(s)
i) Out of DELAWARE; 6,627.853 OZ
ii) Out of MANFRA:  32.15 oz  (I KILOBAR)
total customer withdrawal: 6,660.003   oz
We had 0 adjustment(s)
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Total dealer inventor 2,236,180.879 or 69.559 tonnes
Total gold inventory (dealer and customer) =10,562,658.577. or 328.543 tonnes 
 
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 328.543 tonnes for a  gain of 26  tonnes over that period.  Since August 8 we have lost 25 tonnes leaving the comex. However I am including kilobar transactions and they are very suspect at best.
For October:

Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued form their client or customer account. The total of all issuance by all participants equates to 250 contracts  of which 0 notices were stopped (received) by jPMorgan dealer and 164 notice(s) was (were) stopped/ Received) by jPMorgan customer account.

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To calculate the initial total number of gold ounces standing for the Oct contract month, we take the total number of notices filed so far for the month (9413) x 100 oz or 941,300 oz, to which we add the difference between the open interest for the front month of OCT (324 contracts) minus the number of notices served upon today (250) x 100 oz per contract equals 948,700 oz, the number of ounces standing in this  active month of October.
 
Thus the INITIAL standings for gold for the Oct contract month:
No of notices served so far (9413) x 100 oz  or ounces + {OI for the front month (324) minus the number of  notices served upon today (250) x 100 oz which equals 948,700 oz standing in this non active delivery month of Oct  (29.508 tonnes).
we GAINED ANOTHER additional 26 NOTICES OR 2600 oz standing in this active delivery month of October and that is a record standing for any October from the beginning of time. To give you an idea of size from last yr, we had only a little over 2 tonnes standing at the conclusion of Oct 2015!
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I have now gone over all of the final deliveries for this year and it is startling.
First of all:  in 2015 for the 12 months: 51 tonnes delivered upon for an average of 4.25 tonnes per month.
Here are the final deliveries for 2016:
Jan 2016:  .5349 tonnes  (Jan is a non delivery month)
Feb 2015:  7.9876 tonnes (Feb is a delivery month/deliveries this month very low)
March 2015: 2.311 tonnes (March is a non delivery month)
April:  12.3917 tonnes (April is a delivery month/levels on the low side
And then something happens and from May forward deliveries boom!
May; 6.889 tonnes (May is a non delivery month)
June; 48.552 tonnes ( June is a very big delivery month and in the end deliveries were huge)
July: 21.452 tonnes (July is a non delivery month and generally a poor one/not this time!)
August: 44.358 tonnes (August is a good delivery month and it came to fruition)
Sept:  8.4167 tonnes (Sept is a non delivery month)
Oct; 29.42 tonnes so far.
total for the 10 months;  182.400 tonnes
average 18.40 tonnes per month vs last yr 51 tonnes total for 12 months or 4.25 tonnes average per month. From May 2016 until Oct 2016 we have had: 159.108 tonnes per the 6 months or 26.518 tonnes per month (which includes the non delivery months of May, June and Sept).  In essence the demand for gold is skyrocketing.
Something big is going on inside the gold comex.
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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 of hypothecated gold sent to other jurisdictions so that they will not be short with their underwritten derivatives in that jurisdiction.  This would be similar to the rehypothecated gold used by Jon Corzine
 
IN THE LAST TWO MONTHS  25 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
 
OCT INITIAL standings
 Oct 25. 2016
Silver Ounces
Withdrawals from Dealers Inventory NIL
Withdrawals from Customer Inventory
629,774.360 oz
HSBC
SCOTIA
Deposits to the Dealer Inventory
NIL  OZ
Deposits to the Customer Inventory 
 495,407.400 oz
JPM
No of oz served today (contracts)
4 CONTRACT(S)
(20,000 OZ)
No of oz to be served (notices)
37 contracts
(185,000 oz)
Total monthly oz silver served (contracts) 500contracts (2,500,000 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  6,508,272.3 oz
today, we had 0 deposits into the dealer account:
total dealer deposit: NIL oz
we had 0 dealer withdrawals:
 total dealer withdrawals: nil oz
we had 2 customer withdrawals:
i) Out of HSBC: 20,642.13 oz
ii) Out of SCOTIA: 609,132.23 oz
Total customer withdrawals: 629,774.360  oz
We had 1 customer deposits:
 i) Into JPM: 495,407.400 oz
total customer deposits;  495,407.400 oz
 
 
 we had 0 adjustment(s) 
Volumes:
Today the estimated volume was 25,270 which is poor.
FRIDAY’S  confirmed volume was 70,105 which is huge
The total number of notices filed today for the Oct contract month is represented by 4 contracts for 20,000 oz. To calculate the number of silver ounces that will stand for delivery in OCT., we take the total number of notices filed for the month so far at  500 x 5,000 oz  = 2,500,000 oz to which we add the difference between the open interest for the front month of OCT (41) and the number of notices served upon today (4) x 5000 oz equals the number of ounces standing 
 
Thus the initial standings for silver for the OCT contract month:  500(notices served so far)x 5000 oz +(41) OI for front month of SEPT ) -number of notices served upon today (4)x 5000 oz  equals  2,685,000 oz  of silver standing for the OCT contract month. THIS IS STILL A HUGE SHOWING FOR SILVER AS OCTOBER IS GENERALLY A VERY WEAK DELIVERY MONTH.
We NEITHER GAINED NOR LOST ANY SILVER OUNCES STANDING TODAY.
 
Total dealer silver:  29.952 million (close to record low inventory  
Total number of dealer and customer silver:   174.429 million oz
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
OCT 25/A HUGE ADDITION OF 3.27 TONNES INTO THE GLD/INVENTORY RESTS AT 956.83 TONNES
OCT 24/NO CHANGES AT THE GLD/INVENTORY RESTS AT 953.56 TONNES
OCT 21/A MONSTROUS CHANGE IN GOLD INVENTORY AT THE GLD: A WITHDRAWAL OF 16.61 TONNES FROM THE GLD/INVENTORY RESTS AT 953.56 TONNES
OCT 20/A HUGE CHANGE IN GOLD INVENTORY AT THE GLD OF 2.94 TONNES/INVENTORY RESTS AT 970.17 TONNES
OCT 19/no change in gold inventory at the GLD inventory/inventory rests at 967.21 tonnes
OCT 18/A DEPOSIT OF 1.78 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT967.21 TONNES
OCT 17/ A DEPOSIT OF 3.86 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 965.43 TONNES/IN 10 DAYS 16.29 TONNES DEPOSITED
Oct 14./NO CHANGE IN INVENTORY AT THE GLD
OCT 13/a deposit of 2.67 tonnes of gold into the GLD/inventory rests  at 961.57 tonnes
Oct 12/No changes in inventory/inventory rests at 958.90 tonnes
Oct 11/ what!!! we had a gigantic 9.76 tonnes of inventory increase today/inventory rests at 958.90 tonnes.  (this was done with gold down?)
Oct 7:  949.14 tonnes
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Oct 25/ Inventory rests tonight at 956/83 tonnes
*IN LAST 17 DAYS: 6.64 TONNES ADDED INTO THE GLD

end

Now the SLV Inventory
OCT 25/NO CHANGES AT THE SLV INVENTORY/INVENTORY RESTS AT 366.366 MILLION OZ
OCT 24/NO CHANGES AT THE SLV INVENTORY/INVENTORY RESTS AT 366.366 MILLION OZ
OCT 21/A HUGE CHANGES IN SILVER INVENTORY AT THE SLV/: A DEPOSIT OF 3.226 MILLION OZ INTO THE SLV/INVENTORY RESTS AT 366.366 MILLION OZ
oCT 20/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 363.140 MILLION OZ
oCT 19/a good sized change at the SLV inventory: a deposit of 855,000 oz/rests at 363.140 million oz/
OCT 18/NO CHANGES AT THE SLV INVENTORY RESTS AT 362.285 MILLION OZ
OCT 17/NO CHANGES AT THE SLV/INVENTOR RESTS AT 362.285 MILLION OZ/
oCT 14: A HUGE ADDITION (DEPOSIT) OF 1.138 MILLION OZ INTO THE SLV/INVENTORY RESTS AT 362.285 MILLION OZ
OCT 13/ NO CHANGES  in inventory at the SLV/Inventory rests at 361.147 million oz
Oct 12:NO CHANGES  in inventory at the SLV/Inventory rests at 361.147 million oz
Oct 11/ a withdrawal of 1.762 million oz of inventory from the SLV/Inventory rests at 361.147 million oz/
.
Oct 25.2016: Inventory 366.366 million oz
 end

NPV for Sprott and Central Fund of Canada

Central fund data not available today.

1. Central Fund of Canada: traded at Negative 2.8 percent to NAV usa funds and Negative 2.7% to NAV for Cdn funds!!!! 
Percentage of fund in gold 60.7%
Percentage of fund in silver:38.3%
cash .+1.0%( Oct 25/2016).
2. Sprott silver fund (PSLV): Premium RISES to +0.74%!!!! NAV (OCT 25/2016
3. Sprott gold fund (PHYS): premium to NAV  FALLS TO  0.88% to NAV  ( OCT 25/2016)
Note: Sprott silver trust back  into POSITIVE territory at 0.74% /Sprott physical gold trust is back into positive territory at 0.88%/Central fund of Canada’s is still in jail.