Commercials Having Trouble Covering Their HUGE Short Position! | Harvey Organ

my-shorts-on-fireConclusion:  Commercials go net long by 1520 contracts and they STILL are having trouble trying to cover their YUUUGE short position…

 

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THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON

 

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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 21 (10:15 pm est last night): $  1267.78

NY ACCESS PRICE: $1264.25 (AT THE EXACT SAME TIME)

Shanghai afternoon fix:  2: 15 am est (second fix/early  morning):$   1269.33

NY ACCESS PRICE: 1264.60 (AT THE EXACT SAME TIME)

HUGE SPREAD TODAY!!  5 dollars

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London Fix: OCT 21: 5:30 am est:  $1263.95   (NY: same time:  $1264.20:    5:30AM)

London Second fix OCT 20: 10 am est:  $1266.05  (NY same time: $1266.35 ,    10 AM)

Shanghai premium in silver over NY:  87 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

Let us head over to the comex:

The total gold comex open interest ROSE BY 412 CONTRACTS to an OI level of 504,027 as the price of gold FELL $2.30 with YESTERDAY’S trading.

We are in the delivery month is October and here the OI GAINED 392 contracts UP to 693. We had 10 notices filed yesterday so we GAINED 402 contracts or 40,200 additional oz will  stand  for delivery.

The next delivery month is November and here the OI FELL by 116 contract(s) DOWN to 2745 contracts. This level is extremely elevated as generally November is a very poor delivery month.To give you an idea of size, on Oct 21 2015, we had an OI of only 266 contracts standing.The next contract month and the biggest of the year is December and here this month showed an increase of 26 contracts up to 372,238.

Today we had  618 notices filed for 61,800 oz of gold.
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And now for the wild silver comex results.  Total silver OI ROSE BY 925 contracts from  193,168 up to 194,093 as the  price of silver FELL  to the tune of 12 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 72 contracts down to 96. We had 85 notices filed yesterday so we gained 13 contracts or 65,000 additional oz will stand for delivery.The November contract month saw its OI LOSE 1 contract DOWN to 327.   The next major delivery month is December and here it FELL BY 105 contracts DOWN to 150,815.

we had 7 notices filed for 35,000 oz

VOLUMES:

Today the estimated volume was 109,834 contracts which is poor.

Yesterday, the confirmed volume was 149,287  which is also fair.

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

INITIAL standings for OCTOBER
 Oct 21.
Gold Ounces
Withdrawals from Dealers Inventory in oz  NIL
Withdrawals from Customer Inventory in oz  nil
32.15 oz
Manfra
1 KILOBAR
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz 
 66,456.117 oz
BRINKS
No of oz served (contracts) today
618 notices 
61,800 oz
No of oz to be served (notices)
75 contracts
 7,500
oz
Total monthly oz gold served (contracts) so far this month
9163 contracts
916,300 oz
28.500 tonnes
Total accumulative withdrawals  of gold from the Dealers inventory this month    oz
Total accumulative withdrawal of gold from the Customer inventory this month    318,505.5 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
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We had 1 customer deposit;
i) Into Brinks:  66,456.117 oz
total customer deposits;66,456.117 oz
We had 1 customer withdrawal(s)
i) Out of MANFRA; 32.15 oz  (1 KILOBAR)
total customer withdrawal: 32.15  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) =10,529,985.453. or 327.526 tonnes 
 
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 327.526 tonnes for a  gain of 25  tonnes over that period.  Since August 8 we have lost 26 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 618 contracts  of which 1 notices were stopped (received) by jPMorgan dealer and  82 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 (9163) x 100 oz or 916,300 oz, to which we add the difference between the open interest for the front month of OCT (693 contracts) minus the number of notices served upon today (618) x 100 oz per contract equals 916,300 oz, the number of ounces standing in this  NON active month of September.
 
Thus the INITIAL standings for gold for the SEPT contract month:
No of notices served so far (9163) x 100 oz  or ounces + {OI for the front month (693) minus the number of  notices served upon today (618) x 100 oz which equals 864,500 oz standing in this non active delivery month of Oct  (28.734 tonnes).
we GAINED additional 40,200 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; 28.734 tonnes so far.
 
total for the 10 months;  181.6869 tonnes
average 18.168 tonnes per month vs last yr 51 tonnes total for 12 months or 4.25 tonnes average per month.
 
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  26 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
 
OCT INITIAL standings
 Oct 21. 2016
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 
 600,955.410 oz
scotia
No of oz served today (contracts)
7 CONTRACT(S)
(35,000 OZ)
No of oz to be served (notices)
89 contracts
(445,000 oz)
Total monthly oz silver served (contracts) 448 contracts (2,240,000 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  5,191,804.6 oz
today, we had 0 deposit into the dealer account:
total dealer deposit: nil oz
we had 0 dealer withdrawals:
 total dealer withdrawals: nil oz
we had 0 customer withdrawals:
Total customer withdrawals: nil  oz
We had 1 customer deposits:
 i) Into Scotia: 600,955.410 oz
total customer deposits;  600,955.410 oz
 
 
 we had 0 adjustment(s) 
Volumes:
Today the estimated volume was 35,441 which is fair.
Yesterday the confirmed volume was 60,610 which is EXCELLENT
The total number of notices filed today for the Oct contract month is represented by 7 contract(s )for 35,000 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  448 x 5,000 oz  = 2,240,000 oz to which we add the difference between the open interest for the front month of OCT (96) and the number of notices served upon today (7) x 5000 oz equals the number of ounces standing 
 
Thus the initial standings for silver for the OCT contract month:  448(notices served so far)x 5000 oz +(96) OI for front month of SEPT ) -number of notices served upon today (7)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 gained 65,000 additional silver ounces THAT WILL STAND.
 
Total dealer silver:  29.707 million (close to record low inventory  
Total number of dealer and customer silver:   174.638 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
At 3:30 we receive the COT report which gives us position levels of our major players. Last week saw a huge covering of short positions by our commercials.
Let us see what these crooks did this week:
First: the gold COT
Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
274,345 94,727 56,255 115,441 318,112 446,041 469,094
Change from Prior Reporting Period
-9,041 6,560 5,372 3,079 -15,449 -590 -3,517
Traders
177 116 88 50 54 277 213
 
  Small Speculators      
  Long Short Open Interest    
  51,020 27,967 497,061    
  -2,677 250 -3,267    
  non reportable positions Change from the previous reporting period  
COT Gold Report – Positions as of Tuesday, October 18, 2016

Our large speculators:

those large specs that have been long in gold pitched a huge 9,041 contracts from their long side.

those large specs that have been short in gold added 6560 contracts to their long side

Our commercials

those criminal banks that are long in gold added 3027 contracts to their long side

those banks that have been short in gold covered another whopping 15,449 contracts from their short side.

Our small specs;

Those small specs that have been long in gold pitched 2677 contracts from their long side

those small specs that have been short in gold added a small 250 contracts to their short side.

Conclusions; commercials go net long by another 12,422 contracts and that is bullish

However the regulators should never allow these crooks to play in this game in the first place.

And now for our silver COT

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Silver COT Report: Futures
Large Speculators Commercial
Long Short Spreading Long Short
94,230 34,944 14,570 53,771 128,682
-3,297 310 3,117 1,597 -1,127
Traders
103 49 42 35 38
Small Speculators Open Interest Total
Long Short 189,229 Long Short
26,658 11,033 162,571 178,196
343 -540 1,760 1,417 2,300
non reportable positions Positions as of: 158 112
  Tuesday, October 18, 2016   © SilverSeek

Our large speculators:

those large specs that have been long in silver pitched 3297 contracts from their long side.

those large specs that have been short in silver added a tiny 310 contracts to their short side.

Our commercials;

those commercials that have been long in silver added 3117 contracts to their long side

those commercials that have been short in silver added 1597 contracts to their short side.

Our small specs:

those small specs that have been long in silver pitched a huge 3575 contracts from their long side.

those small specs that have been short in silver covered a tiny 34 contracts from their short side.

Conclusions:  commercials go net long by 1520 contracts and they still are having trouble trying to cover their huge short position