For 14 consecutive days, the amount standing for physical has risen. On First day notice 16.8 million oz were standing; tonight 22.94 million oz. It looks to me that sovereign China wants its silver back as it looks like we have a determined player with deep pockets willing to take silver away from the COMEX…
ANOTHER PRECIOUS METALS RAID TODAY: GOLD DOWN $4.85 AND SILVER DOWN 26 CENTS/AMT STANDING FOR SILVER AT THE COMEX RISES AGAIN TO 22.94 MILLION OZ/BIG CHINESE INSURER WARNS OF HUGE DEFAULTS IN WMP’S/A BIGGY: DEUTSCHE BANK BEING TRIED IN ITALIAN COURT AS BEING A GLOBAL CRIMINAL ORGANIZATION/BRAZIL IN TURMOIL AGAIN AS NEW ALLEGATIONS SURFACE AGAINST THE NEW PRESIDENT/MORE STORIES ON TRUMP VS THE DEEP STATE
GOLD: $1252.65 down $4.85
Silver: $16.66 down 26 cent(s)
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: $1269.02 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: 1259.75
PREMIUM FIRST FIX: $9.27
SECOND SHANGHAI GOLD FIX: $1262.28
NY GOLD PRICE AT THE EXACT SAME TIME: 1257.95
Premium of Shanghai 2nd fix/NY:$4.33
LONDON FIRST GOLD FIX: 5:30 am est $1261.35
NY PRICING AT THE EXACT SAME TIME: $1262.15
LONDON SECOND GOLD FIX 10 AM: $1255.90
NY PRICING AT THE EXACT SAME TIME. $1256.75
For comex gold:
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 17 NOTICE(S) FOR 1700 0 OZ.
TOTAL NOTICES SO FAR: 508 FOR 50800 OZ (1.5800 TONNES)
For silver: MAY
47 NOTICES FILED TODAY FOR 235,000 OZ/
Total number of notices filed so far this month: 4514 for 22,570,000 oz
For 14 consecutive days, the amount standing for physical has risen. On First day notice 16.8 million oz were standing; tonight 22.94 million oz. It looks to me that sovereign China wants its silver back as it looks like we have a determined player with deep pockets willing to take silver away from the comex.
Interestingly enough, the premium on Sprott’s silver funds reached a positive 1.19% on a raid day. Even his gold premium went up.
As I pointed out to you yesterday, whenever you see gold up appreciably coupled with silver lagging and a poor performance of the gold/silver equities, this is a sure sign that they orchestrate a raid the next day. They probably had everything set up to raid yesterday but the Trump disasters delayed the attack by one day.
Let us have a look at the data for today
In silver, the total open interest FELL BY 2220 contracts DOWN to 212,907 DESPITE THE RISE IN PRICE OF SILVER THAT TOOK PLACE WITH YESTERDAY’S TRADING (UP 15 CENT(S). In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.064 BILLION TO BE EXACT or 152% of annual global silver production (ex Russia & ex China). WE MUST HAVE HAD CONSIDERABLE BANKER SHORT COVERING YESTERDAY IN THE SILVER ARENA.
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 47 NOTICE(S) FOR 235,000 OZ OF SILVER
In gold, the total comex gold ROSE BY A WHOPPING 10,858 contracts WITH THE RISE IN THE PRICE OF GOLD ($22.00 with YESTERDAY’S TRADING). The total gold OI stands at 445,979 contracts.
we had 17 notice(s) filed upon for 1700 oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
We had a big changes in tonnes of gold at the GLD: a withdrawal of 1.18 tonnes of gold which was probably used in the paper attack on gold today
Inventory rests tonight: 850.71 tonnes
Today: a big change in inventory/ a deposit of 1.42 million oz into the SLV
THE SLV Inventory rests at: 343.815 million oz
Here is a strange fact for the CFTC to price discover:
when the record OI occurred on April 21, the price of silver was at 18.42 (OI record 234,000 contracts. Interestingly the SLV inventory on April 21 was 325 million oz and today it is 343 million dollars and the price of silver is $1.82 less. And the comex is a price discovery mechanism????
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver FELL BY 2220 contracts DOWN TO 212.907, (AND STILL CLOSE TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787), DESPITE THE GOOD SIZED RISE IN PRICE FOR SILVER YESTERDAY (15 CENTS). NO QUESTION WE HAD SHORT COVERING BY THE BANKERS
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 WEDNESDAY night/THURSDAY morning: Shanghai closed DOWN 14.30 POINTS OR .46% OR / /Hang Sang CLOSED DOWN 157.11 POINTS OR 0.62% The Nikkei closed DOWN 261.02 POINTS OR 1.32%/Australia’s all ordinaires CLOSED DOWN 0.79%/Chinese yuan (ONSHORE) closed DOWN at 6.8917/Oil DOWN to 48.44 dollars per barrel for WTI and 51.50 for Brent. Stocks in Europe OPENED DEEPLY IN THE RED ..Offshore yuan trades 6.8842 yuan to the dollar vs 6.8917 for onshore yuan. NOW THE OFFSHORE IS A TOUCH WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN WEAKER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS A LITTLE WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE SLIGHTLY STRONGER DOLLAR. CHINA IS NOT HAPPY WITH WORLDY EVENTS THIS MORNING
3a)THAILAND/SOUTH KOREA/NORTH KOREA
b) REPORT ON JAPAN
Japan reports a strong 2.2% rise year over year on its GDP growth. This is not necessarily good news as Kuroda is looking for an excuse to taper his bond purchases and he now has one
( zero hedge)
c) REPORT ON CHINA
A big Chinese insurer warns of mass defaults and social unrest due to a mass redemption on Wealth Management Products (WMP)
The total amount of debt in these vehicles is 10 trillion or about 1/3 of the total Chinese debt.It seems that Forsea has been told not to issue new debt as much of what they hold is non performing. Forsea claims that they will default unless the sign up new stuff: the class definition of a Ponzi scheme
( zero hedge)
4. EUROPEAN AFFAIRS
i)German based Aldi/and Lidl/USA (Wal-Mart)
Wal-Mart is now facing stiff competition from the likes of German grocer Aldi as WalMart prices are still higher. Now a new German grocer is set to enter the uSA, Lidl and together with USA competitor Kroger the following entry will cause a huge deflationary spiral in food prices in the USA
( zero hedge)
Deutsche bank is now being sued in an Italian court for running an international criminal organization. Under USA law this would be RICO
You know it is bad when the police join in on the protests
Greek citizens are protesting Brussels’ new austerity measures
( zero hedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
6 .GLOBAL ISSUES
7. OIL ISSUES
My goodness: Venezuela’s oil production is now on the brink of collapse. What is amazing is that Venezuela has the world’s largest reserves of oil in the ground
( Nick Cunningham/OilPrice.com)
8. EMERGING MARKETS
i)Brazil in turmoil last night after President Temer has been recorded offering hush money to jailed former speaker of the house Cunha. This was followed with massive protests by the populace.
( zero hedge)
9. PHYSICAL MARKETS
i)Your crime scene today:
( zero hedge)
ii)Enjoyable reading as to why every Indian government scheme to kill gold purchases (and relieve gold from citizens) has failed
James Turk continues with his interview with Kingworldnews and talks about a short squeeze in gold
( zero hedge)
iii) The Shanghai gold exchange has just provided their data for gold withdrawals which equals gold demand in China.
As you will recall, total withdrawal in 2016 we recorded at 1970 tonnes. So far in the first 4 months we have witnessed a demand of 727 tonnes or annualized at 2181 tonnes which is now signalling increasing demand for gold in China. If demand continues then we will come close to the 2013 demand total of 2197 tonnes.
( Ronan Manly./Bullionstar/GATA)
10. USA stories
i)Rosenstein appoints a special prosecutor with respect to the Russian probe. We now no that Trump was unaware of this development until after the fact
( zero hedge)
ii)This is the question that I am also asking: If Trump was so forceful in asking for an end to the Flynn probe: why was Comey so silent for two months?
( zerohedge/Peter King/)
iii)this should be fun: Rosenstein is to be grilled by the entire senate today. However it is a closed door session
( zero hedge)
iv)Trump comments that the deep state is after him and it is the single greatest witch hunt in American history. Interestingly enough it was not Trump who initiated the special prosecutor. Will he now ask for a special prosecutor to look into the crimes of Hillary Clinton?
( zero hedge)
v)USA Mortgage applications tumble the most in one year:
( zero hedge)
( zero hedge)
Let us head over to the comex:
The total gold comex open interest ROSE BY 10,858 CONTRACTS UP to an OI level of 445,879 WITH THE RISE IN THE PRICE OF GOLD ( $22.00 with YESTERDAY’S trading). We are now in the contract month of MAY and it is one of the POORER delivery months of the year. In this MAY delivery month we had A GAIN OF 8 contract(s) RISING TO 40. We had 0 notices filed yesterday so we GAINED 8 contracts or an additional 800 oz are standing for delivery and no contracts were cash settled through the EFP route where they receive a cash bonus plus a future gold contract.
The next big active month is June/2017 and here the OI GAINED 4702 contracts UP to 208.931. The non active July contract GAINED another 275 contracts to stand at 1043 contracts. The next big active month is August and here the OI gained 5,068 contracts up to 137,835.
To give you a good idea of the devastation of open interest contracts, last year on May 16 2016 we had at this exact time: 321,216 contracts of JUNE 2016 CONTRACTS OPEN.( compared to JUNE 2017: 208,931)
For the June 2016 contract month initially 48.189 tonnes stood for delivery. Eventually a huge 48.552 tonnes stood.
We had 17 notice(s) filed upon today for 1700 oz
The non active June contract LOST 121 contracts to stand at 797. The next big active month will be July and here the OI LOST 1830 contracts DOWN to 161.435.
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)
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 47 notice(s) filed for 235,000 oz for the MAY 2017 contract
VOLUMES: for the gold comex
Today the estimated volume was 202,505 contracts which is good
Yesterday’s confirmed volume was 411,657 contracts which is huge.
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||214,922.2 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 0 contract(s) of which 17 notices were stopped (received) by jPMorgan dealer and 0 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)||
( 370,000 oz)
|Total monthly oz silver served (contracts)||4514 contracts (22,570,000 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||5,936,048.3 oz|
NPV for Sprott and Central Fund of Canada
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
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
April 28/no changes in inventory at the GLD/Inventory rests at 853.36 tonnes
April 27/a small withdrawal of .89 tonnes/Inventory is now at 853.36 tonnes
APRIL 26/we had no changes at the GLD/Inventory rests at 854.25 tonnes
April 25/2017/A WITHDRAWAL OF 5.92 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 854.25 TONNES
April 24/a deposit of 1.48 tonnes of gold into the GLD/inventory rests at 860.17 tonnes
April 21/A DEPOSIT OF 4.44 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 858.69 TONNES
APRIL 20/A WITHDRAWAL OF 6.51 TONNES FROM THE GLD/INVENTORY RESTS AT 854.25 TONNES
April 19/ A DEPOSIT OF 11.84 TONNES INTO THE GLD/INVENTORY RESTS AT 860.76 TONNES
Now the SLV Inventory
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??)
April 28/Strange again!! no change in inventory at the SLV/Inventory remains at 330.283 million oz (no liquidation with a drop in silver price??)
April 27.2017/Strange!! no change in inventory at the SLV/Inventory remains at 330.283 million oz (no liquidation???)
APRIL 26/2017/another huge deposit of 2.934 million oz into the SLV/Inventory rests at 330.283 million oz
April 25/a huge deposit of 1.98 million of into inventory/inventory rests at 327.349 million oz/
April 24/no changes in inventory at the SLV/Inventory rests at 325.361 million oz/
April 21/A WITHDRAWAL OF 719,000 OZ OF SILVER AT THE SLV/INVENTORY RESTS AT 325.361 MILLION OZ/
APRIL 20/NO CHANGES IN INVENTORY AT THE SLV/INVENTORY RESTS AT 326.308 MILLION OZ