THE WORLD IS NOW WORRIED ABOUT HIGHER BOND YIELDS CRASHING INVESTORS…
GOLD AND SILVER ARE CONTINUOUSLY BEING CONTAINED BY OUR BANKERS AS THE WORLD IS NOW WORRIED ABOUT HIGHER BOND YIELDS CRASHING INVESTORS/BANK OF JAPAN IN CHAOS AS THEY DO NOT KNOW WHAT TO DO AS THEY ARE RUNNING OUT OF BONDS TO MONETIZE/ CHINESE TROUBLE AS POBC RAISES YUAN TO HURT THE SHORTS BUT HIBOR AT 8.25%/IN THE USA ANOTHER CO OP IN OBAMACARE BITES THE DUST
This Week Only…
Gold:1321.50 up $0.50
Silver 18.98 up 7 cents
In the access market 5:15 pm
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.
*Mathew Hunter of the CFTC has corrected me on the timing of the London fixes
And now the fix recordings:
Shanghai morning fix Sept 14 (10:15 pm est last night): $1322.21
NY ACCESS PRICE: $1318.75 (AT THE EXACT SAME TIME)
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$1325.01
NY ACCESS PRICE: 1321.50 (AT THE EXACT SAME TIME)
London Fix: Sept 14: 5:30 am est: $1323.20 (NY: same time: $1322.50: 5:30AM)
London Second fix Sept 8: 10 am est: $1321.75 (NY same time: $1323.00 , 10 AM)
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.
For comex gold:The front September contract month we had 16 notices filed for 1600 oz
For silver: the front month of September we have a total of 106 notices filed for 530,000 oz
Let us have a look at the data for today
In silver, the total open interest FELL by 1,541 contracts down to 193,953. The open interest fell as the silver price was down 2 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). the crooks are doing a great job fleecing unsuspecting longs
In silver we had 106 notices served upon for 530,000 oz
In gold, the total comex gold fell by 1,717 contracts as the price of gold fell BY $2.00 yesterday . The total gold OI stands at 575,002 contracts. The level of OI now is good for us as it will support a rise in gold price.
With respect to our two criminal funds, the GLD and the SLV:
LAST NIGHT WE HAD ONE change out of the GLD/ A HUGE WITHDRAWAL OF 4.45 TONNES FROM THE GLD/
Total gold inventory rest tonight at: 935.49 tonnes of gold
we had no changes with respect to inventory at the SLV
THE SLV Inventory rests at: 362.434 million oz
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver fell by 1541 contracts down to 193,953 as the price of silver fell by 2 cents with yesterday’s trading.The gold open interest fell 1,717 contracts down to 575,002 as the price of gold fell $2.00 IN 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 20.66 POINTS OR 0.68%/ /Hang Sang closed DOWN 25.12 points or 0.11%. The Nikkei closed DOWN 114.80 POINTS OR 0.69% Australia’s all ordinaires CLOSED UP 0.38% Chinese yuan (ONSHORE) closed MARGINALLY UP at 6.6746/Oil ROSE to 45.06 dollars per barrel for WTI and 47.17 for Brent. Stocks in Europe: ALL IN THE GREEN Offshore yuan trades 6.6761 yuan to the dollar vs 6.6746 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS HUGELY AS MORE USA DOLLARS ATTEMPT TO LEAVE CHINA’S SHORES
REPORT ON JAPAN SOUTH KOREA NORTH KOREA AND CHINA
b) REPORT ON JAPAN
i)Next week the Bank of Japan is ready to increase the negative interest as the centerpiece of its strategy. It will still keep its QE intact but will concentrate its effort on the short end of the yield curve and not attack the long end.
This too will end in failure..
ii) The Bank of Japan has hinted on 3 options that they will do next week.We outline the 3 trial balloons. One thing is for sure: B of J officials themselves do not know what they are doing or what might happen if they attempt one of the trial balloons
(courtesy zero hedge)
c) REPORT ON CHINA
Unexpectedly the POBC raised the value of the yuan both offshore and onshore. While this was going on liquidity disappeared as HIBOR rose to 8.2%. China wants to punish the yuan shorts
( zero hedge)
4 EUROPEAN AFFAIRS
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
The house passed the bill unanimously and it is now up to Obama to veto it. He has just stated that he would veto. However if he does not veto, the Saudis are threatening world chaos and extremism will follow. No doubt that they will unload all of their bonds onto the USA. Also the House can send the bill again and if 60% of the vote passes, it becomes law from which the Saudis will unleash their scorn!
And now the next nation to turn against the USA: the Philippines. They are now buying weapons from Russian and China
( zero hedge)
i)Crude tumbles again below 45 dollars
ii)Oil first rises and then falters as the Dow heads into negative territory:
A dozen eggs: 150 dollars. Middle class fathers cannot feed their families as they scour garbage cans looking for food. May I remind everyone that Venezuela has the largest oil reserves in the world and yet this once experiment in social utopia has ended in a failed state.
I would also like to point out that the moronic Maduro is using his last reserves of gold to pay for stuff. You can just imagine what will happen when the last oz is used up.
( Warner/Gatestone Institute).
Former President of Brazil Lula has now been charged with corruption
(courtesy Bruce Douglas/Bloomberg)
i)A good story on the life of a South African gold miner:
ii)John Embry explains the bond panic of yesterday coupled with more frantic efforts by the bankers trying to contain both gold and silver
( John Embry/Kingworldnews)
10.USA STORIES WHICH MAY INFLUENCE THE PRICE OF GOLD/SILVER
i)Trading early this morning:10 am est 2 commentaries
First: early morning trading
This is something to watch: Risk Parity funds have been experiencing a bloodbath as stocks crashed!
( zero hedge)
ii)In the key state of Ohio, Donald Trump leads Hillary by 5 full percentage points
( zero hedge)
iii)We now have only 6 co operative health funding facility left. Today Health Republkic Insurance of New Jersey is folding due to hazardous financial conditions:
( Mish Shedlock/Mishtalk)
Let us head over to the comex:
The total gold comex open interest fell to an OI level of 575,002 for a loss of 1717 contracts as the price of gold FELL by $2.00 with yesterday’s trading. We are now in the NON active month of SEPTEMBER/
The contract month of Sept saw it’s OI FALL by 17 contracts DOWN to 154. We had 20 notices filed yesterday so we GAINED 3 contracts or 300 additional oz will stand for delivery. The next delivery month is October and here the OI FELL by 1237 contracts down to 40,836. This level is extremely high and no doubt many of these will wait it out and take delivery at the end of the month. The next contract month of December showed an decrease of 1,135 contracts down to 429,064.The estimated volume today at the comex: 171,811 fair Confirmed volume yesterday: 210,555 which is good.
And now for the wild silver comex results. Total silver OI fell by 1541 contracts from 195,494 down to 193,953 with the FALL in price of silver to the tune of 2 cents yesterday. We are moving away from the all time record high for silver open interest set on Wednesday August 3: (224,540). We are now into the next active month of September and here the OI fell by 79 contracts down to 886. We had 27 notices filed upon YESTERDAY so we lost 52 contracts or 260,000 additional oz will not stand for delivery in this active month of September. The next non active delivery movement of October hardly moved rose by 2 contracts up to 270 contracts. The next big delivery month will be December and here it fell , down 1,057 contracts to 168,561. The volume on the comex today (just comex) came in at 59,956 which is excellent The confirmed volume yesterday (comex and globex) was huge at 84,733 . Silver is not in backwardation. London is in backwardation for several months.
today we had 106 notices filed for silver: 530,000 oz
|Withdrawals from Dealers Inventory in oz||NIL|
|Withdrawals from Customer Inventory in oz nil||
|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||192.90 oz|
|Total accumulative withdrawal of gold from the Customer inventory this month||76,117.3 oz|
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 16 contract of which 0 notices were stopped (received) by jPMorgan dealer and 0 notice(s) was (were) stopped (received) by jPMorgan customer account.
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 they are in England. This would be similar to the rehypothecated gold used by Jon Corzine. If this is the case, this would be the greatest fraud perpetrated on USA soil!!.
|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)||2216 contracts (11,080,000 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||4,021,672.1 oz|
SEPT 9/ we had a big changes tonight out of the GLD/ there were two major withdrawals
i) first early morning: 1.19 tonnes
ii) second: 10.68 tonnes of gold
total: 11.87 tonnes
Total gold inventory rest tonight at: 939.94 tonnes of gold