TRUMP TRASHES THE DOLLAR WHICH GIVES ROCKET FUEL TO BOTH GOLD AND SILVER!
TRUMP TRASHES THE DOLLAR WHICH GIVES ROCKET FUEL TO BOTH GOLD AND SILVER: GOLD RISES TO $1284.00 AND SILVER TO $18.45 IN THE ACCESS MARKET/OPEN INTEREST ON GOLD RISES 22,000 CONTRACTS BUT SILVER’S OI RISES ONLY 400 CONTRACTS/ IN SILVER BANKERS ARE TRAPPED/HUGE TENSIONS ON TWO FRONTS: NORTH KOREA AND RELATIONS BETWEEN THE USA AND RUSSIA SOURS BADLY
2015 (P) MS70 American Silver Eagle
The Rarest Silver Eagle Bullion Coin EVER!
Gold: $1275.30 UP $4.00
Silver: $18.28 UP 5 cents
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: $1284.17 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: 1277.50
PREMIUM FIRST FIX: $6.67
SECOND SHANGHAI GOLD FIX: $1284.60
NY GOLD PRICE AT THE EXACT SAME TIME: 1274.70
Premium of Shanghai 2nd fix/NY:$9.90
LONDON FIRST GOLD FIX: 5:30 am est 1272.30
NY PRICING AT THE EXACT SAME TIME: 1272.95
LONDON SECOND GOLD FIX 10 AM: 1274.30
NY PRICING AT THE EXACT SAME TIME. 1274.60
For comex gold:
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 2 NOTICE(S) FOR 200 OZ.
TOTAL NOTICES SO FAR: 623 FOR 62,300 OZ (1.9378 TONNES)
For silver: APRIL
0 NOTICES FILED TODAY FOR NIL OZ/
Total number of notices filed so far this month: 744 for 3,720,000 oz
The open interest in silver continues to advance with today’s reading just over 220,000 contracts or about 4,000 contracts below the record set last year. The price of silver is a good $2.00 below the price when the record OI was set.
Late in the day, three important developments:
- Trump wanted a lower dollar with lower interest rates
- North Korea’s Kim stated that there is going to be a big event
- Talks with the Russia’s Lavrov and Putin did not go off too well
gold shot straight up to $1286.00 and silver is now trading at $18.49
The bankers sure have their work cut out for them. If they cannot contain gold and silver prices their derivatives will blow up!
Since gold and silver made their big move after the comex closed, I do not think that the OI’s for both gold and silver will advance to a higher degree. However I may be wrong. I will know let tonight…
Let us have a look at the data for today
In silver, the total open interest ROSE BY ONLY 496 contracts UP to 220,172 DESPITE THE HUGE RISE IN PRICE ( 34 CENTS) WITH RESPECT TO YESTERDAY’S TRADING. THE HEDGE FUNDS (MANAGED MONEY) CONTINUE TO REMAIN STEADFAST WITH THEIR POSITIONS ON DOWNDRAFT DAYS WHILE SLOWLY ADDING TO THEIR LONGS ON GOOD DAYS. THE BANKERS ARE DESPERATELY TRYING TO COVER THEIR EVER BURGEONING SHORTS (OVER 555 MILLION OZ) BUT TO NO AVAIL. IT IS BECOMING ALMOST IMPOSSIBLE FOR THE BANKERS TO SUPPLY THE NECESSARY PAPER. In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.100 BILLION TO BE EXACT or 157% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MARCH MONTH/ THEY FILED: 0 NOTICE(S) FOR NIL OZ OF SILVER
In gold, the total comex gold ROSE BY GIGANTIC 22,742 contracts WITH THE RISE IN THE PRICE OF GOLD ($20.00 with YESTERDAY’S TRADING). The total gold OI stands at 456,131 contracts.
we had 2 notice(s) filed upon for 200 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: 842.41 tonnes
We had no changes in silver inventory at the SLV today/
THE SLV Inventory rests at: 328.201 million oz
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver ROSE BY ONLY 496 contracts UP TO 220,172 DESPITE THE HUGE RISE IN SILVER YESTERDAY ( 34 CENTS). We no doubt had some attempted short covering but the longs keep piling on making it difficult for them to cover. Our managed money sector (the hedge funds) continue to remain steadfast in their conviction not to play (give up their longs) when the bankers decide to raid. On good days,like yesterday, they slowly add to their positions. Whereas the bankers could not supply the necessary silver paper they found no problem in supplying a massive 22,742 contracts as the gold OI rose to 456,131 WITH THE RISE IN THE PRICE OF GOLD ($20.00 YESTERDAY’S TRADING).
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 TUESDAY night/WEDNESDAY morning: Shanghai closed DOWN 15.13 POINTS OR 0.460%/ /Hang Sang CLOSED UP 225.94 POINTS OR .93% . The Nikkei closed DOWN 195.26 OR 1.04% /Australia’s all ordinaires CLOSED UP 0.07%/Chinese yuan (ONSHORE) closed UP at 6.8938/Oil UP to 53.63 dollars per barrel for WTI and 56.44 for Brent. Stocks in Europe MOSTLY MIXED ..Offshore yuan trades 6.8989 yuan to the dollar vs 6.8938 for onshore yuan.FOR THE FIRST TIME IN OVER TWO MONTHS THE OFFSHORE IS WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN SLIGHTLY STRONGER AND THE OFFSHORE YUAN ALSO A LITTLE STRONGER AND THIS IS COUPLED WITH THE NO CHANGE ON THE DOLLAR.
3a)THAILAND/SOUTH KOREA/NORTH KOREA
b) REPORT ON JAPAN
The USA sends a nuclear sniffer aircraft that specializes in detecting radioactive debris after a detonation of a nuclear device to Okinawa Japan as the parties prepare for potential nuclear tests in the region. Tensions are coming to a boil
( zero hedge)
c) REPORT ON CHINA
Trump calls Xi who tells him not to do anything unilaterally. Tensions boil
( zero hedge)
ii) China warns North Korea that they are at the tipping point and they threaten with ‘”never before seen measures”
( zero hedge)
4. EUROPEAN AFFAIRS
Mish Shedlock analyzes the upcoming French elections and it looks like it could be any combination that will win the first round and enter the final round
( Mish Shedlock/Mishtalk)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
Finally a refreshing candid discussion on what happened with the “chemical bomb”
there are two scenarios according to Peter Ford, British ambassador to Syria:
“What’s needed is an investigation, because there are two possibilities for what happened. One is the American version, that Assad dropped chemical weapons on this locality. The other version is that an ordinary bomb was dropped and it hit a munitions dump where jihadis were storing chemical weapons. We don’t know which of these two possibilities is the correct one. “
Putin warns Trump as relations under the current uSA administration have collapsed. Tillerson gets a frigid reception
( zero hedge)
iii)Russia states that it will not back away from supporting Assad. Putin warns Tillerson that the USA must not strike Syria again
iv)Rex Tillerson is meeting Putin after the Russian President initially stated that he would not meet the Sec.of State
v)Lavrov speaks and he totally rejects the USA’s “hysterical campaign” of interventionism.
( zero hedge)
6 .GLOBAL ISSUES
A good description of Toronto’s housing bubble and since this is my home town I can verify what is going on as foreign buyers snatch up homes. This past year the average price of a home in Toronto went up 30%.
( zero hedge)
7. OIL ISSUES
i)We have a secondary OPEC source which shows that Saudi oil production rose for the 2nd straight month.
ii)Oil drops as crude production hits a 20th month high and bottleneck occurring at Cushing Oklahoma
( zero hedge)
8. EMERGING MARKETS
9. PHYSICAL MARKETS
i)I saw this yesterday, but I thought the huge difference was a typo so I just took the actual trading price at 10 am as the fix. The fix was actually 12 dollars lower than what was trading and this cannot be explained
( zero hedge)
ii)Many of our readers are shareholders of Agnico Eagle, probably one of the better mining companies out there. JPMorgan has now upgraded their version of the company to overweight as they announced Meliadine into production with a 14 year lifespan.
( Toronto’s Financial Post)
iii)I rarely use technical analysis when I discuss the precious metals due to constant manipulation.. However if you use long term charts, then you can glean some interesting things
( Steve St Angelo/SRSRocco Report)
iv) Iron ore prices fall again in China as the glut of steel inside China is huge as these guys try to unload much of that commodity on the rest of the world:
( zero hedge)
v)March saw a huge jump in gold imports due to festival wedding demand. We will get official data shortly
10. USA stories
i)THE BIG NEWS OF THE DAY: TRUMP CRASHES THE DOLLAR BY SAYING IT IS GETTING TOO STRONG!!
(courtesy zero hedge)
ii)TRUMP BACKTRACKS AGAIN: HEALTH CARE WILL COME BEFORE TAX REFORM
iii)Trump tells Bannon to straightened out your differences with Kushner or he will
( zero hedge)
iv)Trump reverses again on NATO: it is no longer obsolete:
( zero hedge)
Let us head over to the comex:
The total gold comex open interest ROSE BY 22,742 CONTRACTS UP to an OI level of 456,131 WITH THE RISE IN THE PRICE OF GOLD ( $20.00 with YESTERDAY’S trading). The bankers were certainly not shy in supplying the necessary paper to our newbie longs. We are now in the contract month of APRIL and it is one of the BETTER delivery months of the year. In this APRIL delivery month we had A GAIN OF 173 contract(s) RISING TO 1,922. We had 13 notices served yesterday so we GAINED 160 contracts or 16,000 oz will stand for delivery in the active delivery month of April.
At the end of April/2016 only 12.3917 tonnes stood for physical delivery, although 21.306 tonnes stood initially at the beginning of April 2016.
The non active May contract month GAINED 170 contract(s) and thus its OI is 2533 contracts. The next big active month is June and here the OI ROSE by 20,676 contracts UP to 328,857.
We had 2 notice(s) filed upon today for 200 oz
We are in the NON active delivery month is APRIL Here the open interest lost 96 contracts. We had 103 notices filed yesterday so we GAINED 7 contracts or an additional 35,000 oz will stand for delivery.
The next active contract month is May and here the open interest LOST 4535 contracts DOWN to 137.418 contracts which is astonishingly high. It is this front month that the crooked bankers are targeting as they must be frightened to see such a mammoth amount of contracts still standing for metal. The non active June contract GAINED 129 contracts to stand at 312. The next big active month will be July and here the OI gained 4394 contracts up to 52,833.
FOR COMPARISON SAKE, ON APRIL 12/2016 WE HAD 98,575 CONTRACTS STANDING FOR DELIVERY. SO YOU CAN VISUALIZE FOR YOURSELF THE HUGE DIFFERENCE BETWEEN 2016 AND THIS YEAR.
For those keeping score, the initial amount of silver oz that stood for delivery for the May 2016 contract month: 28.01 million oz. By conclusion of the month only 13.58 million oz stood and the rest was cash settled.(EFP ROUTE)
We had 0 notice(s) filed for NIL oz for the APRIL 2017 contract
VOLUMES: for the gold comex
Today the estimated volume was 112,960 contracts which is fair.
Yesterday’s confirmed volume was 300,367 contracts which is very 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||443,159.3 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 2 contract(s) of which 0 notices were stopped (received) by jPMorgan dealer and 1 notice(s) was (were) stopped/ Received) by jPMorgan customer account.
March 2016: 2.311 tonnes (March is a non delivery month)
|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)||
|Total monthly oz silver served (contracts)||744 contracts (3,720,000 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||6,524,172.0 oz|
Initially for the April 2016 contract, 1,180,000 oz stood for delivery. At the end of April 2016: 6,775,000 oz stood as bankers needed much silver to fill major holes elsewhere.
NPV for Sprott and Central Fund of Canada
will update later tonight the central fund of Canada figures
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
APRIL 12/no changes in gold inventory at the GLD/Inventory rests at 842.41 tonnes
April 11/a huge deposit of 4.12 tonnes into inventory/Inventory rests at 842.41 tonnes
this would no doubt be a paper gold entry. It would be difficult to find that amount of physical gold.
April 10/1.77 tonnes added into inventory at the GLD/inventory rests at 838.29 tonnes
April 7/a small withdrawal of .28 tonnes from the GLD/Inventory rests at 836.49 tonnes
April 6/no change in gold tonnage at the GLD/Inventory rests at 836.77 tonnes
April 5/no change in gold tonnage at the GLD/Inventory rests at 836.77 tonnes
April 4/no change in gold tonnage at the GLD/Inventory rests at 836.77 tonnes
April 3.2017: a huge deposit of 4.45 tonnes of gold into the GLD/Inventory rests at 836.77 tonnnes
March 31/another withdrawal of 1.19 tonnes of gold inventory fro the GLD/this inventory would no doubt be heading for Shanghai/GLD inventory: 822.32 tonnes
March 30/no changes in gold inventory at the GLD/Inventory rests at 833.51 tonnes
March 29/a withdrawal of 1.78 tonnes of gold out of the GLD/Inventory rests tongith at 833.51 tonnes
March 28/this is good!! A deposit of 2.67 tonnes of gold into the GLD/Inventory rests at 835.29 tonnes.
March 27/no changes in gold inventory at the GLD/Inventory rests at 832.62 tonnes
March 24/another withdrawal of 1.78 tonnes from the GLD/Inventory rests at 832.62 tonnes
March 23/no change in gold inventory at the GLD/Inventory rests at 834.40 tonnes
March 22/no changes in gold inventory at the GLD/Inventory rests at 834.40 tonnes
March 21/a deposit of 4.15 tonnes of gold into the GLD/Inventory rests at 834.40 tonnes
March 20/WE HAD A MASSIVE 6.81 TONNE WITHDRAWAL FROM THE GLD/INVENTORY RESTS AT 830.25 TONNES/THIS GOLD MUST BE ON ITS WAY TO SHANGHAI. WITH GOLD RISING THESE PAST FEW DAYS, IT MAYS NO SENSE WHATSOEVER ON GOLD LIQUIDATION.
March 17/a huge withdrawal of 2.37 tonnes from the GLD/Inventory rests at 837.06 tonnes
March 16/no changes in gold inventory at the GLD/Inventory rests at 839.43 tonnes
March 15/ANOTHER HUGE DEPOSIT OF 4.44 TONNES/inventory rests at 839.43 tonnes
March 14/strange they whack gold and yet the GLD adds 2.93 tonnes of gold./inventory rests at 834.99 tonnes
March 13/a deposit of 6.78 tonnes of gold into the GLD/Inventory rests at 832.03 tonnes
March 10/ a withdrawal of 4.886 tonnes from the GLD/Inventory rests at 830.25
this tonnage no doubt is off to Shanghai
March 9/a withdrawal of 2.67 tonnes from the GLD/Inventory rests at 834.10
March 8/no change in gold inventory at the GLD/inventory rests at 836.77 tones
Now the SLV Inventory
April 12/no changes in inventory at the SLV/Inventory rests at 328.201 million oz/
April 11/a paper deposit of 11.131 million oz into the SLV/no doubt yesterday’s entry of a withdrawal of 11.231 million oz was in error/328.201 million oz
April 10/ a paper withdrawal of 11.231 million oz of silver from the SLV and this silver was used in the raid today. Inventory rests at 317.231 million oz
April 7./ a withdrawal of 947,000 oz of silver from the SLV/Inventory rests at 328.201 million oz.
April 6/a tiny withdrawal of 136,000 oz of silver from the SLV/Inventory rests at 329.148 million oz
April 5/ a withdrawal of 1.042 million oz from the SLV/Inventory rests at 329.284 million oz
April 4/no change in inventory at the SLV/Inventory rests at 330.326 million oz/
April 3.2017; a withdrawal of 568,000 oz from the SLV/Inventory rests at 330.326