BANKERS SUPPLY $2 BILLION IN PAPER GOLD SHORT AT 4 AM THIS MORNING; THEY ALSO SUPPLY 27.5 MILLION OZ OF SILVER SHORT IN ORDER TO RAID PRIOR TO OPTIONS EXPIRY AT THE COMEX
BANKERS SUPPLY $2 BILLION IN PAPER GOLD SHORT AT 4 AM THIS MORNING; THEY ALSO SUPPLY 27.5 MILLION OZ OF SILVER SHORT IN ORDER TO RAID PRIOR TO OPTIONS EXPIRY AT THE COMEX/TWO ITALIAN BANKS FAIL AND THEY ARE RESCUED AS A BAIL OUT NOT A BAIL IN AS ITALIAN TAXPAYERS WILL HAVE TO FORK OVER MONEY
GOLD: $1246.30 DOWN $9.90
Silver: $16.56 DOWN 7 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: $1263.54 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1254.45
PREMIUM FIRST FIX: $9.09
SECOND SHANGHAI GOLD FIX: $1263.54
NY GOLD PRICE AT THE EXACT SAME TIME: $1254.50
Premium of Shanghai 2nd fix/NY:$9.04
LONDON FIRST GOLD FIX: 5:30 am est $1240.85
NY PRICING AT THE EXACT SAME TIME: $1241.85
LONDON SECOND GOLD FIX 10 AM: $1245.25
NY PRICING AT THE EXACT SAME TIME. $1244.25
For comex gold:
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 103 NOTICE(S) FOR 10300 OZ.
TOTAL NOTICES SO FAR: 2773 FOR 277,300 OZ (8.625 TONNES)
0 NOTICES FILED TODAY FOR
Total number of notices filed so far this month: 991 for 4,905,000 oz
Over at the comex, the amount standing for the silver metal again rose in similar fashion to what we witnessed last month and also in April. It is up for the 18th consecutive trading day. We certainly have a determined entity trying to get its hands on whatever silver is available.
We have now officially entered options expiry week:
comex options expiry TOMORROW: Tuesday June 27
London options expiry: Friday June 30
first day notice Friday June 30
It is going to be interesting to see the open interest for silver tomorrow. The volumes today was astronomically high and the crooks had trouble witnessing silver leaves falling from the silver tree.
Let us have a look at the data for today
In silver, the total open interest SURPRISINGLY FELL BY 1,254 contract(s) DOWN to 204616 WITH THE RISE IN PRICE OF SILVER THAT TOOK PLACE WITH FRIDAY’S TRADING (UP 8 CENT(S). In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.0230 BILLION TO BE EXACT or 146% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 0 NOTICE(S) FOR nil OZ OF SILVER
In gold, the total comex gold SURPRISINGLY FELL BY A CONSIDERABLE 2,426 CONTRACTS DESPITE THE RISE IN PRICE OF GOLD ($7.60 with FRIDAY’S TRADING). The total gold OI stands at 450,301 contracts.
we had 103 notice(s) filed upon for 10,300 oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
We had a big change in tonnes of gold at the GLD: a withdrawal of 2.66 tonnes from the GLD
Inventory rests tonight: 851.02 tonnes
Today: no change in silver inventory at the SLV:
THE SLV Inventory rests at: 339,888 million oz
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver FELL BY 1,254 contracts DOWN TO 204,616 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787), DESPITE THE RISE IN PRICE FOR SILVER WITH YESTERDAY’S TRADING (UP 8 CENTS).We LOST A FEW BUT MOST EVERYBODY remains firm and determined.
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 SUNDAY night/MONDAY morning: Shanghai closed UP 27.57 POINTS OR 0.87% / /Hang Sang CLOSED UP 201.84 POINTS OR 0.79% The Nikkei closed UP 20.68 POINTS OR 0.10%/Australia’s all ordinaires CLOSED UP 0.07%/Chinese yuan (ONSHORE) closed DOWN at 6.8406/Oil UP to 43.17 dollars per barrel for WTI and 45.58 for Brent. Stocks in Europe OPENED ALL IN THE GREEN,, Offshore yuan trades 6.8540 yuan to the dollar vs 6.8406 for onshore yuan. NOW THE OFFSHORE IS MUCH WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN WEAKER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS A LOT WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE STRONGER DOLLAR. CHINA IS NOT HAPPY TODAY
3a)THAILAND/SOUTH KOREA/NORTH KOREA
b) REPORT ON JAPAN
c) REPORT ON CHINA
4. EUROPEAN AFFAIRS
It is now Italy’s turn: two Italian banks failed Friday night which will no doubt cause junior bond holders and equity stock holders to lose everything.
Theresa May strikes a deal with Northern Ireland and that will give the conservatives sufficient votes for pass the Queen’s speech.
(courtesy zero hedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
6 .GLOBAL ISSUES
7. OIL ISSUES
8. EMERGING MARKET
9. PHYSICAL MARKETS
i)More derivatives are planned to entice gold investors to go with paper gold rather than the real thing.
( zero hedge)
ii)Monetary Metals (of which I am now reported) has provided forward rates for GOLD and SILVER. Silver has just been added.
( Monetary Metals/GATA)
iii)Gold and silver will following the cryptos higher states John Embry
( Kingworldnews/John Embry)
iv)Chris Powell on this morning’s 18,000 contract short ($2 billion)
v)As promised, a huge 2 billion USA dollars worth of gold supplied and that knocked gold down. It was not a fat finger!
( zero hedge)
vi)All Cryptos suffer a huge loss of trading today
( zero hedge)
This is good; Louisiana ends sales tax on both gold and silver bullion:
( Money Metals Exchange/)
10. USA Stories
iv)Seattle raised its minimum wage to 15 dollars starting in April 2015. A study shows that this caused the equivalent of 6700 jobs lost and many full time workers moving to the part time category due to the higher cost
( zero hedge)
Let us head over to the comex:
The total gold comex open interest SURPRISINGLY FELL BY 2,426 CONTRACTS DOWN to an OI level of 449,164 DESPITE THE RISE IN THE PRICE OF GOLD ($7.60 with FRIDAY’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 JUNE and it is one of the BETTER delivery months of the year. In this JUNE delivery month we had A LOSS OF 120 contract(s)FALLING TO 398. We had 42 notices filed yesterday so we LOST 78 contract(s) or an additional 7800 oz will NOT stand for delivery in this very active delivery month of June AND 78 CONTRACT(S)
The non active July contract LOST 275 contracts to stand at 921 contracts. The next big active month is August and here the OI LOST 5451 contracts DOWN to 300,446, as the bankers trying to keep this month down to manageable size.
We had 103 notice(s) filed upon today for 10300 oz
The next big active month will be July and here the OI LOST 10,064 contracts DOWN to 48,785 as we start to wind down before first day notice Friday, June 30. July will be interesting to watch in silver as we witness fewer players pitching for EFP contracts than with gold. We have 4 trading days left before first day notice
The month of August, a non active month picked up 21 contracts to stand at 170. The next big active delivery month for silver will be September and here the OI already jumped by another 8569 contracts up to 113,367.
I will give you a snapshot as to what happened last year at the exact number of days before first day notice:
June 27.2016: 44,936 contracts were still outstanding vs 48,785 contracts June 26.2017.WITH THE EXACT SAME NUMBER OF TRADING DAYS BEFORE FIRST DAY NOTICE
At the conclusion of June, the final standing for physical silver was 3,080,000 oz and we have already surpassed that number this year (4,595,000 oz).
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: 12.370 million with the difference being EFP’s taking delivery in London.
We had 0 notice(s) filed for NIL oz for the June 2017 contract
VOLUMES: for the gold comex
Today the estimated volume was 213,159 contracts which is GOOD/BUT VOLUME DUE TO RAID
Yesterday’s confirmed volume was 174,020 contracts which is fair
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||326,769.0 oz|
Today, 0 notice(s) were 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 103 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 65 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)||
( 20,000 oz)
|Total monthly oz silver served (contracts)||981 contracts (4,905,000 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||6,332,238.3 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 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 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/