Conclusion: 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
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
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.
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.
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
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:
|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||oz|
|Total accumulative withdrawal of gold from the Customer inventory this month||318,505.5 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 618 contracts of which 1 notices were stopped (received) by jPMorgan dealer and 82 notice(s) was (were) stopped/ Received) by jPMorgan customer account.
March 2015: 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)||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|
|Gold COT Report – Futures|
|Change from Prior Reporting Period|
|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
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
|Silver COT Report: Futures|
|Small Speculators||Open Interest||Total|
|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.
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