Another WHACKING of Gold! – Harvey Organ

ANOTHER WHACKING OF GOLD!

 

ANOTHER WHACKING OF GOLD: DOWN $7.80 WITH SILVER DOWN 20 CENTS/FOR THE 7TH CONSECUTIVE DAY, THE AMOUNT OF SILVER STANDING AT THE COMEX INCREASES RIGHT FROM ITS STARTING POINT AT FIRST DAY NOTICE/THERESA MAY FALLS SHORT BY 8 SEATS OF A MAJORITY SENDING PROBLEMS FOR HER AND FOR THE UK/MORE ON THE COMEY AFFAIR

GOLD: $1268.50  down $7.80

Silver: $17.19  down 20  cent(s)

Closing access prices:

Gold $1294.30

silver: $17.68

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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: $1282.60 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1274.75

PREMIUM FIRST FIX:  $7.85

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SECOND SHANGHAI GOLD FIX: $1281.00

NY GOLD PRICE AT THE EXACT SAME TIME: $1274.25

Premium of Shanghai 2nd fix/NY:$6.75

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LONDON FIRST GOLD FIX:  5:30 am est  $1274.25

NY PRICING AT THE EXACT SAME TIME: $1274.55

LONDON SECOND GOLD FIX  10 AM: $1266.55

NY PRICING AT THE EXACT SAME TIME. $1266..60 

 

For comex gold:

JUNE/

NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH:  13 NOTICE(S) FOR 1300  OZ.

TOTAL NOTICES SO FAR: 2118 FOR 211,800 OZ    (6.5878 TONNES)

 
 
 

For silver:

For silver: JUNE

 84 NOTICES FILED TODAY FOR 420,000  OZ/

Total number of notices filed so far this month: 783 for 3,915,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

 

 

END

Another raid as the bankers are determined to bury those who play the paper gold and paper silver game.

 

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 7th consecutive day. We certainly have a determined entity trying to get its hands on whatever silver is available.

 

Let us have a look at the data for today

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This is where we are heading:  (JB Slear/Jim Sinclair)

 

According to JB Slear, this is what the future holds. Why should I write words. Get into the cellar as fast as you can!

Jim

unnamed

 

 

 

In silver, the total open interest FELL BY 922  contract(s) DOWN to 205,319 WITH THE FALL IN PRICE OF SILVER THAT TOOK PLACE WITH YESTERDAY’S TRADING (DOWN 19 CENT(S). In ounces, the OI is still represented by just OVER 1 BILLION oz i.e.  1.0260 BILLION TO BE EXACT or 147% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 84 NOTICE(S) FOR 420,000  OZ OF SILVER

In gold, the total comex gold FELL BY  8,583 contracts WITH THE GOOD SIZED WHACKING GOLD TOOK  ($13.80 with YESTERDAY’S TRADING). The total gold OI stands at 488,383 contracts.

 

we had 13 notice(s) filed upon for 1300 oz of gold.

 

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

GLD:

We had no changes in tonnes of gold at the GLD:

Inventory rests tonight: 867.00 tonnes

.

SLV

Today: no changes in inventory/

THE SLV Inventory rests at: 339.605 million oz

end

.

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

1. Today, we had the open interest in silver FELL BY 922 contracts DOWN TO 205,319 (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 19 CENTS). NO QUESTION THAT WE AGAIN HAD CONTINUED FAILED SHORT COVERING BY THE BANKERS ALONG WITH CONSIDERABLE BANKER DELTA HEDGING AS SILVER IS GIVING THEM NIGHTMARES

(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 THURSDAY night/FRIDAY morning: Shanghai closed UP 8.06 POINTS OR 0.26%   / /Hang Sang CLOSED DOWN 32.77 POINTS OR 0.13% The Nikkei closed UP 104.00 POINTS OR 0.52%/Australia’s all ordinaires  CLOSED UP 0.01%/Chinese yuan (ONSHORE) closed DOWN at 6.7971/Oil UP to 45.70 dollars per barrel for WTI and 47.94 for Brent. Stocks in Europe OPENED MIXED       ..Offshore yuan trades  6.7913 yuan to the dollar vs 6.7971 for onshore yuan. NOW  THE OFFSHORE IS MUCH WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN A LITTLE WEAKER (TO THE DOLLAR)  AND THE OFFSHORE YUAN IS MUCH WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE MUCH STRONGER DOLLAR. CHINA NOT HAPPY WITH THE NEWS THAT ITS DEBT HAS BEEN DOWNGRADED

3a)THAILAND/SOUTH KOREA/NORTH KOREA

i)NORTH KOREA

 

A little background on those 4 anti ship missiles fired by North Korea.  It was a test  for precise accuracy and it is alarming to the west

( Mac Slavo/SHTFPlan)

b) REPORT ON JAPAN

c) REPORT ON CHINA

Whenever you see the Chinese 5 year/10 yr invert , then recession is flashing red!! Actually everything is inverting!

( zerohedge)

4. EUROPEAN AFFAIRS

 

i)UK

Theresa May wins  318 seats and falls short of a majority.  She will hook up with the Irish right wing Democratic Unionist Party to allow her to govern:

( zerohedge)

ii)An important lesson for us all.  A must read…

( Simon Black/SovereignMan.com)

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

Tillerson asks for the blockade against Qatar to stop as it is hindering the USA campaign against ISIS
 
( zero hedge)

6 .GLOBAL ISSUES

Mexican Industrial production simply crashes in April

( zero hedge)

 

 

7. OIL ISSUES

rig counts rise for the 21 st consecutive week

( zero hedge)

8. EMERGING MARKET

9.   PHYSICAL MARKETS

i)Trading today in gold:

the Crooks are at it again:

( zero hedge)

ii)Mexico owes Canadian miners more than 360 million dollars with Goldcorp the lions share at 230 million

( Reuters/GATA)

iii)Chris Powell comments on the huge raid we have been experiencing this past two days:

( Chris Powell/GATA)

iv)A great reason to whack gold today:  Gold imports jump 400% as the increase in GST tax fear as spurred stocking of gold

( Bloomberg)

v)totally absurd:  Jim Cramer discusses bitcoin and highlights that it may hit 1 million dollars.

( Mish Shedlock/Mishtalk)

 

10. USA Stories

i)Trump accuses Comey of being a “leaker” and a liar and also he claims total and complete vindication

( zerohedge)

ii)Trump is set to file a complaint against Comey for leaking the memos to the New York Times and CNN

( zerohedge)

iib)Lawyer Kasowitz produces the May 11 New York Times article which clearly shows that someone leaked the memo prior to Trump’s tweet on the 12 of May

Perjury?…

( zero hedge)

iic)In a press conference Trump hints that he has the Comey tapes and he then tells the press that they are going to be very disappointed..

(courtesy zero hedge)

ii d)that did not take long!! The House Intelligence Committee demanded from Trump the tapes, if they exist..

( zerohedge)
 

iii)Not a good sign for the economy:  credit card defaults surge the most since 2009:

( zero hedge)

iv)A huge drop in auto inventories will cause the revised 2nd quarter GDP to fall further

( zero hedge)

v)The list of retails in danger of bankruptcy now climb to 22

( zero hedge)

vi)Again Alan Dershowitz states that there is no obstruction case and was glad when Comey stated that yes, the President can say who will be prosecuted and who will not be prosecuted.

( the Fly)

Let us head over to the comex:

The total gold comex open interest FELL BY A GOOD SIZED 8.583 CONTRACTS DOWN  to an OI level of 488,383 WITH THE FALL(WHACK) IN THE PRICE OF GOLD ($13.80 with YESTERDAY’S trading). The bankers were expecting more gold leaves to fall from the gold tree and as such they could not cover as much as they wanted.

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 84 contract(s) FALLING TO  1997.  We had 57 notices filed yesterday so we LOST ANOTHER 27  contracts or an additional 2700 oz will NOT stand for delivery in this very active delivery month of June AND WITHOUT A SHADOW OF DOUBT THESE 27 CONTRACTS RECEIVED AN EFP CONTRACT WHICH ENTITLES THEM TO A FIAT BONUS PLUS A FUTURE GOLD CONTRACT/OR A LONG CALL OR MOST LIKELY A LONDON BASED FORWARD GOLD CONTRACT. THESE EFP’S ARE PRIVATE OFF COMEX TRANSACTIONS. THE STUBBORN LONGS WHO ARE REMAINING STOIC ARE SO FAR REFUSING THAT FIAT BONUS

Below is a little background on the EFP contracts  initiated by our bankers:
 
We now know for certain that private EFP contracts are given by the bankers when faced with an upcoming active delivery month and they state that this is for emergency purposes only and that they do not have actual physical metal to deliver upon in the front month.  We just do not know the makeup of that private deal.  It is my contention that the longs in GOLD FOR INSTANCE at the end of MAY(for June contracts) were given a fiat bonus plus a long “in the money” call for a  future July contract or a August FUTURE contract or MAYBE EVEN A LONDON BASED FORWARD GOLD CONTRACT. . and this is why the total comex open interest complex obliterates as we enter first day notice.  So now everything makes sense: the obliteration of OI as we enter first day notice has not really occurred in the real sense but replaced with a future long contract call and/or an off -comex London based gold contract  with some bonus money for their effort.

The non active July contract LOST 69 contracts to stand at 2,258 contracts. The next big active month is August and here the OI LOST 9019 contracts DOWN to 363,535.

We had 13 notice(s) filed upon today for 1300 oz

 

 
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And now for the wild silver comex results.  Total silver OI FELL BY A TINY 922 contracts FROM 206,241 DOWN TO 205.319 DESPITE YESTERDAY’S BIG 19 CENT LOSS.  IT SURE LOOKS LIKE OUR BANKERS ARE DESPERATELY TRYING TO COVER THEIR SHORTS IN SILVER BUT TO NO AVAIL. WE ALSO NO DOUBT HAVE CONSIDERABLE EVIDENCE OF SOME DELTA HEDGING BY THE BANKERS TRYING TO OFFSET THAT HUGE SHORT POSITION THEY HAVE BEEN BURGEONING OVER THE YEARS.
 
 
 
 
We are in the NON active delivery month is JUNE  Here the open interest SOMEHOW LOST ONLY 3 contract(s) FALLING TO 91 contracts. We had 9 notices served upon yesterday so we AGAIN GAINED 6 CONTRACTS OR AN ADDITIONAL  30,000 OZ OF SILVER WILL STAND FOR DELIVERY IN THIS NON ACTIVE DELIVERY MONTH OF JUNE.  IT SEEMS WE ARE CONTINUING WHERE WE LEFT OFF LAST MONTH IN SILVER AS INVESTORS ARE WILLING TO FORGO THE FIAT PROFIT JUST TO SECURE PHYSICAL SILVER METAL. THIS IS THE 7TH CONSECUTIVE DAY THAT THE AMOUNT OF SILVER STANDING ADVANCED FROM FIRST DAY NOTICE. 
 

The next big active month will be July and here the OI LOST 4242 contracts DOWN to 122,456 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.

The month of August, a non active month picked up 4 contracts to stand at 28.  The next big active delivery month for silver will be September and here the OI already jumped by another 3049 contracts up to 43,021.

I will give you a snapshot as to what happened last year at the exact number of days before first day notice:

June 9.2016:  103,688 contracts were still outstanding vs 122,456 contracts June 9.2017

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  (3,945,000 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.

 

We had 84 notice(s) filed for 420,000 oz for the June 2017 contract

 

VOLUMES: for the gold comex

Today the estimated volume was 200,263 contracts which is GOOD

Yesterday’s confirmed volume was 264,414 contracts  which is GOOD

volumes on gold are STILL HIGHER THAN NORMAL!

 
INITIAL standings for JUNE
 June 9/2017.
 
Gold Ounces
Withdrawals from Dealers Inventory in oz   nil
Withdrawals from Customer Inventory in oz  
 
 
 27,352.819 oz
Brinks
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory in oz nil  oz 
Deposits to the Customer Inventory, in oz 
 
 nil oz
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
 
13 notice(s)
 
1300 OZ
 
 
No of oz to be served (notices)
1984 contracts
198,400 oz
 
Total monthly oz gold served (contracts) so far this month
 
2118 notices
211800 oz
6.5878 tonnes
Total accumulative withdrawals  of gold from the Dealers inventory this month   NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month   143,815.8 oz
 
 
 
Today we HAD  0 kilobar transaction(s)/ 
We had 0 deposit into the dealer:
 
 
 
 
total dealer deposits: nil oz
 
We had NIL dealer withdrawals:
 
 
total dealer withdrawals:  NIL oz
we had no dealer deposits:
 
total dealer deposits:  nil oz
 
 
we had 0  customer deposit(s):
 
 
 
 
 
 
 
 
 
 
 
 
total customer deposits; nil  oz
 
We had 1 customer withdrawal(s)
 
 i) out of Brinks:  27,352.819 oz
 
 
 
 
 
 
 
 
total customer withdrawal: 27,352.819  oz
 
 
 
 we had 0 adjustments:
 
 
 
 
For JUNE:
 

Today, 0 notice(s) were issued from JPMorgan dealer account and 2 notices were issued from their client or customer account. The total of all issuance by all participants equates to 13  contract(s)  of which 0 notices were stopped (received) by j.P. Morgan dealer and 7 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.

 
 
 
 
 
 
 
 
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To calculate the initial total number of gold ounces standing for the JUNE. contract month, we take the total number of notices filed so far for the month (2118) x 100 oz or 211,800 oz, to which we add the difference between the open interest for the front month of JUNE (1997 contracts) minus the number of notices served upon today (13) x 100 oz per contract equals 410,200  oz, the number of ounces standing in this active month of JUNE.
 
Thus the INITIAL standings for gold for the JUNE contract month:
No of notices served so far (2118) x 100 oz  or ounces + {(1997)OI for the front month  minus the number of  notices served upon today (13) x 100 oz which equals 410200 oz standing in this  active delivery month of JUNE  (12.7589 tonnes)
.
WE LOST 27 CONTRACTS OR AN ADDITIONAL 2700 OZ WILL NOT STAND AT THE COMEX.  HOWEVER THESE GUYS (27 CONTRACTS) WERE GIVEN EFP CONTRACTS WHICH ENTITLES THEM TO A FIAT BONUS PLUS A FUTURES GOLD CONTRACT OR A LONG CALL ON A GOLD CONTRACT OR MOST LIKELY A LONDON BASED GOLD FORWARD CONTRACT.  
 
 
 
 
 
 
 
 
 
 
 
 
 
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Total dealer inventory 900,191.813 or 27.99 tonnes DEALER RAPIDLY LOSING GOLD
Total gold inventory (dealer and customer) = 8,775,733.659 or 272.96 tonnes 
 
 
 
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 272.96 tonnes for a  loss of 30  tonnes over that period.  Since August 8/2016 we have lost 81 tonnes leaving the comex. However I am including kilobar transactions and they are very suspect at best
 
I have a sneaky feeling that these withdrawals of gold in kilobars are being used in the hypothecating process  and are being used in the raiding of gold!
 
 
 
 

 
 
 
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 at MF Global.
 
IN THE LAST 13 MONTHS  80 NET TONNES HAS LEFT THE COMEX.
 
end
 
And now for silver
 
AND NOW THE MAY DELIVERY MONTH
 
June INITIAL standings
 June 9 2017
Silver Ounces
Withdrawals from Dealers Inventory  nil
Withdrawals from Customer Inventory
 
 
 
 
 
 
 
 
 nil oz
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
 
 
 
 
NIL oz
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 nil oz
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
 84 CONTRACT(S)
(420,000 OZ)
No of oz to be served (notices)
7 contracts
( 35,000 oz)
Total monthly oz silver served (contracts) 783 contracts (3,915,000 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 2,295,343.5 oz
 
 
 
today, we had  0 deposit(s) into the dealer account:
 
 
 
 
 
total dealer deposit: NIL  oz
 
we had Nil dealer withdrawals:
 
total dealer withdrawals: nil oz
 
 
we had 0 customer withdrawal(s):
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL CUSTOMER WITHDRAWALS:  nil  oz
 
 We had 0 Customer deposit(s):
 
 
 
***deposits into JPMorgan have now stopped
In the month of March and February, JPMorgan stopped (received) almost all of the comex silver contracts.
why is JPMorgan bringing in so much silver??? why is this not criminal in that they are also the massive short in silver
 
 
 
 
 
 
 
 
 
 
 
 
 
total customer deposits  nil oz
 
 
 we had 0 adjustment(s)
 
 
 
The total number of notices filed today for the JUNE. contract month is represented by 84 contract(s) for 420,000 oz. To calculate the number of silver ounces that will stand for delivery in JUNE., we take the total number of notices filed for the month so far at 783 x 5,000 oz  = 3,920,000 oz to which we add the difference between the open interest for the front month of JUNE (91) and the number of notices served upon today (84) x 5000 oz equals the number of ounces standing
 

 

.
 
Thus the initial standings for silver for the JUNE contract month:  718(notices served so far)x 5000 oz  + OI for front month of JUNE.(91 ) -number of notices served upon today (84)x 5000 oz  equals  3,950,000 oz  of silver standing for the JUNE contract month.
 
We gained 6 contracts or an additional 30,000 oz will stand for delivery. WE ALSO HAD 0 EFP CONTRACTS THAT WERE ISSUED AS THE LONGS REFUSED A FIAT BONUS: THEY WANT THEIR PHYSICAL SILVER.
 
 
 
 
 
 
 
 
 
 
 
Volumes: for silver comex
 
 
 
Today the estimated volume was 79,174 which is HUGE
Yesterday’s  confirmed volume was 101,041 contracts which is HUGE
 
YESTERDAY’S ESTIMATED VOLUME OF 101,041 CONTRACTS EQUATES TO 505 MILLION OZ OF SILVER OR 72% OF ANNUAL GLOBAL PRODUCTION OF SILVER EX CHINA EX RUSSIA). IN OUR HEARINGS THE COMMISSIONERS STRESSED THAT THE OPEN INTEREST SHOULD BE AROUND 3% OF THE MARKET.
 
 
 
 
 
 
 
 
 
 
 
 
Total dealer silver:  34.315 million (close to record low inventory  
Total number of dealer and customer silver:   204.477 million oz
 
 
 
The record level of silver open interest is 234,787 contracts set on April 21./2017  with the price at that day at  $18.42
 
The previous record was 224,540 contracts with the price at that time of $20.44
 
 
 
 
 
 
 
end
 

NPV for Sprott and Central Fund of Canada

 
1. Central Fund of Canada: traded at Negative 7,5 percent to NAV usa funds and Negative 7.4% to NAV for Cdn funds!!!! 
Percentage of fund in gold 61.7%
Percentage of fund in silver:38.2%
cash .+0.1%( June 9/2017
 
 
 SPROTT PHYSICAL SILVER TRUST FUND NOT READY FOR PUBLICATION
 
 
 
 
2. Sprott silver fund (PSLV): STOCK  6.53%!!!! NAV  ??? (june 9/2017
3. Sprott gold fund (PHYS): premium to NAV FALLS to -0.52% to NAV  (June 9/2017 )
Note: Sprott silver trust back  into POSITIVE territory at -?? /Sprott physical gold trust is back into POSITIVE/ territory at -0.52%/Central fund of Canada’s is still in jail  but being rescued by Sprott.
 

Sprott’s hostile 3.1 billion bid to take over Central Fund of Canada

(courtesy Sprott/GATA)

Sprott makes hostile $3.1 billion bid for Central Fund of Canada

 Section: Daily Dispatches

From the Canadian Press
via Canadian Broadcasting Corp. News, Toronto
Wednesday, March 8, 2017

http://www.cbc.ca/news/canada/calgary/sprott-takeover-bid-central-fund-c…

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.

end

At 3:30 pm we receive the COT which gives position levels of our major players. However because of the EFP’s issued, makes this report totally distorted

The report encompasses May 31, first day notice.  You will recall we had a massive obliteration of open interest on the day but since then more paper gold has been added.

what an absolute fraud!

First the Gold COT:

Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
312,240 107,775 29,475 108,298 324,652 450,013 461,902
Change from Prior Reporting Period
61,698 24,323 -6,074 4,547 37,682 60,171 55,931
Traders
188 96 78 48 59 268 206
 
Small Speculators  
Long Short Open Interest  
44,028 32,139 494,041  
-376 3,864 59,795  
non reportable positions Change from the previous reporting period
COT Gold Report – Positions as of Tuesday, June 6, 2

OUR LARGE SPECS

those large specs that have been long in gold added an unheard 61,698 contracts

those large specs that have been short in gold added 24,323 contracts to their short list

 

OUR COMMERCIALS

those commercials that have been long in gold added 4547 contracts to their long side

those commercials that have been short in gold added a whopping 37,682 contracts.

OUR SMALL SPECS

those small specs that have been long in gold pitched 376 contracts to their long side

those small specs that have been short in gold added 3864 contracts to their short side.

Conclusion:

there is only one word to describe this: fraud!

Onto silver: note the difference between gold and silver

Silver COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
101,713 35,772 31,973 52,429 128,053 186,115 195,798
5,145 618 -158 -432 4,110 4,555 4,570
Traders
95 48 59 35 38 159 123
  Small Speculators      
  Long Short Open Interest    
  22,852 13,169 208,967    
  -823 -838 3,732    
  non reportable positions Change from the previous reporting period  
COT Silver Report – Positions as of Tuesday, June 6, 2017

OUR LARGE SPECS

those large specs that have been long in silver added 5145 contracts to their long side

those large specs that have been short in silver added 618 contracts to their short side

 

 OUR COMMERCIALS

those commercials that have been long in silver covered a tiny 432 contracts from their long side

those commercials that have been short in silver added only 4110 contracts to their short side

 

OUR SMALL SPECS

those small specs that have been long in silver covered 564 contracts to their long side

those small specs that have been short in silver covered 570 contracts.

Conclusions:

note the difference between gold and silver. Do not read anything into these figures as everything is paper.  there is no physical settlement as EFP’s distort especially in gold.

And now the Gold inventory at the GLD

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

May 16./ no change in the GLD inventory/inventory rests at 851.89 tonnes

May 15/no change in the GLD inventory/inventory rests at 851.89 tonnes

May 12/no changes in GLD/inventory rests at 851.89 tonnes

may 11/no changes in GLD inventory/inventory rests at 851.89 tonnes

May 10/no changes in GLD inventory/inventory rests at 851.89 tonnes/

May 9/a withdrawal of 1.19 tonnes from the GLD/Inventory rests tonight at 851.89 tonnes

May 8/no change in inventory at the GLD/Inventory rests at 853.08 tonnes

May 5/no changes in inventory at the GLD/Inventory rests at 853.08 tonnes

May 4/A tiny change in inventory at the GLD /a withdrawal of .28 tonnes to pay for fees/inventory rests at 853.08 tonnes

May 3/no change in inventory at the GLD/Inventory rest at 853.36 tonnes

May 2/no change in inventory at the GLD/Inventory rests at 853.36 tonnes

May 1/ no changes in inventory at the GLD/inventory rests at 853.36 tonnes

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
 
June 9 /2017/ Inventory rests tonight at 867/00 tonnes
 
*IN LAST 169 TRADING DAYS: 80.13 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 111 TRADING DAYS: A NET  47.30 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
*FROM FEB 1/2017: A NET  60.64 TONNES HAVE BEEN ADDED.

end

Now the SLV Inventory

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/

May 16./we had a huge addition of 1.416 million oz of silver into the SLV/inventory rests at 342.395 million oz

May 15/no changes in silver inventory/inventory rests at 340.979 million oz/

May 12/a huge change in silver: a deposit of 2.369 million oz/inventory rests at 340.979 million oz

May 11/no changes in silver inventory at the SLV/Inventory rests at 338.610 million oz

May 10/ a gigantic 3.833 million oz of silver added to the SLV and this occurred with the constant whacking of silver for the past 17 trading sessions/inventory rests at 338.610 million oz

may 9Again, no movement of inventory at the SLV. Inventory rests at 334.777 million oz

May 8/no change in silver inventory at the SLV/inventory rests at 334.777 million oz/

May 5/Strange!! no change in silver inventory at the SLV/Inventory rests tonight at 334.777 million oz

May 4/a very tiny withdrawal of 144,000 oz to pay for fees/inventory rests tonight at 334.777 million oz/

May 3/strange!! with the drop in price of silver we had no change in inventory at the SLV/inventory rests at 334.921 million oz

May 2/extremely strange again/a huge 3.502 million oz deposit into the SLV despite silver being in the toilet for the past several trading days.Inventory 334.921 million oz

may 1/extremely strange/with silver being walloped these past several days, the inventory rises again by a huge 1.136 million oz/(maybe someone can explain this phenomena??)

June 9.2017: Inventory 339.605  million oz