Today was nothing but criminal activity with a massive drive by shooting…
Gold $1265.10 down $65.30
Silver 18.10 down 70 cents
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 3 (10:15 pm est last night): $ holiday
NY ACCESS PRICE: $
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ holiday
NY ACCESS PRICE:
London Fix: Sept 30: 5:30 am est: $1309.15 (NY: same time: $: 5:30AM)
London Second fix Sept 30: 10 am est: $1283.30 (NY same time: $xxx , 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 total number of notices filed today : 758 for 75,800 oz (2.35 tonnes)
for the Oct contract month: 1 notices for 5,000 oz.
today was nothing but criminal activity with a massive drive by shooting. This is occurring because the regulators are on the side of the bankers. China is back tonight and will bring the price of gold/silver back to normal.
Let us have a look at the data for today
In silver, the total open interest ROSE by 277 contracts UP to 201,977. The open interest ROSE as the silver price was down 43 cents in yesteray’s trading .In ounces, the OI is still represented by just MORE THAN 1 BILLION oz i.e. 1.0004 BILLION TO BE EXACT or 144% of annual global silver production (ex Russia &ex China).
In silver for October we had 1 notice served upon for 5,000 oz
In gold, the total comex gold FELL by 3,285 contracts as the price of gold fell by $4.30 yesterday . The total gold OI stands at 553,347 contracts. The bankers have done a great job fleecing longs and as usual the entire gold comex OI obliterates
With respect to our two criminal funds, the GLD and the SLV:
LAST NIGHT WE HAD NO CHANGES OUT OF THE GLD//
Total gold inventory rests tonight at: 949.14 tonnes of gold
we had no changes at the SLV
THE SLV Inventory rests at: 362.909 million oz
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver ROSE by 277 contracts UP to 201,977 as the price of silver fell by 34 cents with yesterday’s gold open interest FELL by 5,989 contracts DOWN to 553,347 as the price of gold fell $4.30 IN YESTERDAY TRADING.
2.a) The Shanghai and London gold fix report
2 b) Gold/silver trading overnight Europe, Goldcore
and in NY: Bloomberg
Let us head over to the comex:
The total gold comex open interest FELL BY 5989 CONTRACTS to an OI level of 553,347 the as price of gold fell by $4.30 with yesterday’s trading.
The contract month of Sept is now off the board. The next delivery month is October and here the OI lost 3163 contracts down to 1295. We had 3005 notices filed on yesterday so we lost 158 contracts or 15,800 oz will not stand AND no doubt that most of these were cash settled.
The next delivery month is November and here the OI rose by 6 contracts up to 2238 contracts. The next contract month and the biggest of the year is December and here this month showed an decrease of 3,292 contracts down to 434,131.
And now for the wild silver comex results. Total silver OI ROSE BY 277 contracts from 201,700 up to 201,977 as the price of silver fell to the tune of 34 cents yesterday. We are moving CLOSER TO 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 6 contracts down to 196. We had 1 notice filed on yesterday so we lost 5 contracts or 25,000 additional oz will not stand for November contract month saw its OI rise by 1 contracts up to 400. The next major delivery month is December and here it FELL BY 328 contracts DOWN to 170,545.
today we had 1 notices filed for silver: 5,000 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||oz|
|Total accumulative withdrawal of gold from the Customer inventory this month||96.45 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 758 contract of which 112 notices were stopped (received) by jPMorgan dealer and 0 notice(s) was (were) stopped received) by jPMorgan customer account.
|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)||313 contracts (1,565,000 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||420,010.27 oz|