Deutsche Bank Plunges to ALL-TIME Lows! – Harvey Organ
Here We Go…
ANOTHER HUGE “PAPER” WITHDRAWAL OF GOLD FROM THE GLD/HUGE SPREAD IN GOLD AT THE SHANGHAI GOLD FIX/LOAN DEMAND FALLS DRAMATICALLY IN CHINA: THE ONLY GAME IN TOWN IS THE RISING HOUSE PRICES WITH THE ACCOMPANYING SHADOW BANKING LOANS/DEUTSCHE BANK FALLS TO ALL TIME LOWS. ITALY’S RENZI IN A SPARING MATCH WITH GERMANY’S CENTRAL BANKER WEIDMANN
2 oz Silver Queen’s Beasts
Just $2.89 Over Spot, ANY QTY At SD Bullion!
Gold $1313.70 up $0.20
Silver 19.20 down 1 cent
In the access market 5:15 pm
Gold: 1314.80
Silver: 19.25
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 Sept 20 (10:15 pm est last night): $ 1320.03
NY ACCESS PRICE: $1315.70 (AT THE EXACT SAME TIME)
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ 1320.03
NY ACCESS PRICE: 1315.90 (AT THE EXACT SAME TIME)
HUGE SPREAD TODAY!!
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London Fix: Sept 20: 5:30 am est: $1315.40 (NY: same time: $1315.37: 5:30AM)
London Second fix Sept 16: 10 am est: $1313.80 (NY same time: $1313.80 , 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 0 notices filed for nil oz
For silver: the front month of September we have a total of 105 notices filed for 525,000 oz
Let us have a look at the data for today
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In silver, the total open interest ROSE by 2109 contracts UP to 193,605. The open interest ROSE as the silver price was up 43 cents in yesterday’s trading .In ounces, the OI is still represented by just LESS THAN 1 BILLION oz i.e. .968 BILLION TO BE EXACT or 138% of annual global silver production (ex Russia &ex China). the crooks are doing a great job fleecing unsuspecting longs
In silver we had 105 notices served upon for 525,000 oz
In gold, the total comex gold fell by 468 contracts even though the price of gold rose BY $7.70 yesterday . The total gold OI stands at 565,071 contracts. The level of OI now is good for us as it will support a rise in gold price and it will be hardly for the boys to raid.
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With respect to our two criminal funds, the GLD and the SLV:
GLD
LAST NIGHT WE HAD A HUGE CHANGE out of the GLD/ A WITHDRAWAL OF 3.86 TONNES FROM THE gld
Total gold inventory rest tonight at: 938.75 tonnes of gold
SLV
we had NO change with respect to inventory at the SLV
THE SLV Inventory rests at: 363.479 million oz
.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver rose by 2109 contracts up to 193,605 as the price of silver rose by 43 cents with yesterday’s trading.The gold open interest fell 468 contracts down to 565,071 as the price of gold rose $7.70 IN YESTERDAY’S TRADING.
(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
end
3. ASIAN AFFAIRS
i)Late MONDAY night/TUESDAY morning: Shanghai closed DOWN 3.05 POINTS OR .10%/ /Hang Sang closed DOWN 19.59 PONTS OR .08%. The Nikkei closed DOWN 27.14 POINTS OR .16%/ Australia’s all ordinaires CLOSED UP 0.17% /Chinese yuan (ONSHORE) closed UP at 6.6712/Oil rose to 43.05 dollars per barrel for WTI and 45.55 for Brent. Stocks in Europe: ALL MIXED Offshore yuan trades 6.6818 yuan to the dollar vs 6.6712 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE WIDENS AGAIN AS MORE USA DOLLARS LEAVE CHINA’S SHORES
REPORT ON JAPAN SOUTH KOREA NORTH KOREA AND CHINA
3a)Korea:
none
b) REPORT ON JAPAN
none today
c) REPORT ON CHINA
The following is a very important commentary. Although the demand for loans for housing continues to rise (as indicated by the increase in shadow bank financing) , China is witnessing an overall loan demand drop. This is due to low demand for loans on the corporate sector as global demand for goods dissipates
( zerohedge)
4 EUROPEAN AFFAIRS
i)The gloves just came off as Italy’s Renzi attacks Deutsche bank’s unfixable derivative problem. Renzi has his own problems on non performing loans equal to about 360 billion euros or 18% of all total loans. But he states that his problems are small compared to the supposed 42 trillion Euros (47 trillion USA) in derivatives held by DB.
( zero hedge)
ii)It sure looks like Deutsche bank is hiding its losses through derivatives a la Greece in 2010. The market believes the same
( zero hedge)
iii)And today, Deutsche bank hits record lows
( Dave Kranzler/IRD)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
none today
6.GLOBAL ISSUES
none today
7.OIL ISSUES
i)Oil continues with its descent as no production freeze is on the horizon
( zero hedge)
ii)The east coast gas pipeline is now fixed and that causes gasoline prices to plunge;
( zero hedge)
iii)Late in the day, oil jumps after a huge inventory draw
( zero hedge)
8.EMERGING MARKETS
none today
9.PHYSICAL STORIES
i)Sibanye mines Neal Froneman is not afraid to say that President Zuma must go:
( GATA/Bloomberg)
ii)Turk asks: “what will be the Fed’s excuse for not raising rates this time?”Same B.S. as before.
( James Turk/Kingworldnews)
iii)Bill Murphy talks about the gold and silver suppression scheme
( GATA)
iv)Bitcoin is deemed money by a USA judge:
(courtesy Chris Powell/GATA/Reuters)
10.USA STORIES WHICH MAY INFLUENCE THE PRICE OF GOLD/SILVER
i)It sure looks like intent here as Combetta sought a reddit advice on how to strip VIP emails 5 months before Hillary delivered emails to the state dept.
( zero hedge)
ii)Now the House Committee is reviewing Combetta’s Reddit threat and they may rescind the immunity order because he misled the house.
( zero hedge)
iib)That did not take long!. The house committee demands an interview with Mr Combetta. That should be interesting!
( zero hedge)
iii)This month we received an interesting boost in homebuilder confidence. Today housing starts tumbled and thus the higher confidence seems a little misplaced
( zero hedge)
iv)the mouthpiece of the Fed, Jon Hilsenrath hath spoken: no rate hike until December
( zero hedge)
v)the Atlanta Fed’s first Q3 GDP print comes in at only 2.9% and you can bet the farm that it will be adjusted lower
( Atlanta Fed/zero hedge)
Let us head over to the comex:
The total gold comex open interest fell to an OI level of 565,071 for a loss of 468 contracts as the price of gold ROSE by $7.70 with YESTERDAY’S trading. We are now in the NON active month of SEPTEMBER/
The contract month of Sept saw it’s OI ROSE by 20 contracts UP to 157. We had 0 notices filed yesterday so we gained 20 gold contracts or an additional 2000 gold ounces will stand for delivery. The next delivery month is October and here the OI lost just 2 contracts DOWN to 37,539. 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 96 contracts down to 419,415 .The estimated volume today at the comex: 95,652 which is horrendous. Confirmed volume on yesterday: 141,481 which is fair.
And now for the wild silver comex results. Total silver OI rose by 2,109 contracts from 191,496 up to 193,605 with the rise in price of silver to the tune of 43 cents on 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 19 contracts down to 692. We had 27 notices filed upon yesterday so we GAINED BACK ANOTHER 8 contracts or 40,000 additional oz will stand for delivery in this active month of September. The next non active delivery movement of October LOST 1 CONTRACT TO 290 contracts. The next big delivery month is December and here it FELL by 1997 contracts DOWN to 168,266. The volume on the comex today (just comex) came in at 34,116 which is fair. The confirmed volume yesterday (comex and globex) was very good at 50,609 . Silver is not in backwardation. London is in backwardation for several months.
today we had 105 notices filed for silver: 525,000 oz
| Gold |
Ounces
|
| Withdrawals from Dealers Inventory in oz | NIL |
| Withdrawals from Customer Inventory in oz nil |
32.15 oz
1 kilobar
Manfra
|
| Deposits to the Dealer Inventory in oz | NIL oz |
| Deposits to the Customer Inventory, in oz |
nil
|
| No of oz served (contracts) today |
0 notices
nil oz
|
| No of oz to be served (notices) |
157 contracts
(15,700 oz)
|
| Total monthly oz gold served (contracts) so far this month |
2427 contracts
242,700 oz
7.5489 tonnes
|
| 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 | 170,150.1 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 0 contract of which 0 notices were stopped (received) by jPMorgan dealer and 0 notice(s) was (were) stopped (received) by jPMorgan customer account.
| Silver |
Ounces
|
| Withdrawals from Dealers Inventory | NIL |
| Withdrawals from Customer Inventory |
637,575.89 oz
HSBC
Scotia
Brinks
|
| Deposits to the Dealer Inventory |
511,849.400 OZ
Brinks
|
| Deposits to the Customer Inventory |
403,684.05 oz
CNT
|
| No of oz served today (contracts) |
105 CONTRACTS
(525,000 OZ)
|
| No of oz to be served (notices) |
587 contracts
(2,935,000 oz)
|
| Total monthly oz silver served (contracts) | 2591 contracts (12,955,000 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 | 5,983,6199.9 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
end
