Gold & Silver Sent NorthBound! – Harvey Organ

POOR CPI NUMBERS COUPLED WITH POOR RETAIL SALES SENDS GOLD AND SILVER NORTHBOUND WITH THE DOLLAR SINKING…

 

 

TURKEY TURNS ITS BACK ON THE WEST: PURCHASES DEFENSE MISSILES FROM RUSSIA/TURKEY WILL NOT LET GERMANY VISIT ITS FORCES AT INCIRLIK

GOLD: $1230.30  UP $12.00

Silver: $15.96  UP 21  cent(s)

Closing access prices:

Gold $1228.50

silver: $15.96

 

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: $1226.61 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1216.15

PREMIUM FIRST FIX:  $10.46

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SECOND SHANGHAI GOLD FIX: $1226.95

NY GOLD PRICE AT THE EXACT SAME TIME: $1218.10

Premium of Shanghai 2nd fix/NY:$8.85

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

LONDON FIRST GOLD FIX:  5:30 am est  $1218.95

NY PRICING AT THE EXACT SAME TIME: $1218.95 

LONDON SECOND GOLD FIX  10 AM: $1230.30

NY PRICING AT THE EXACT SAME TIME. $1231.60

 

For comex gold:

JULY/

NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH:  2 NOTICE(S) FOR 200  OZ.

TOTAL NOTICES SO FAR: 117 FOR 11700 OZ    (.3639 TONNES)

 
 
 

For silver:

JULY

 

 8 NOTICES FILED TODAY FOR

 

40,000  OZ/

Total number of notices filed so far this month: 2815 for 14,075,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

 

 

 
 
 

end

I HAVE BEEN TOLD LAST NIGHT AT THE CANADIAN ROYAL MINT HAS RUN OUT OF 10 OZ AND 100 OZ BARS OF SILVER AND WILL NOT BE BACK IN PRODUCTION UNTIL LATE AUGUST.  SILVER IS ALSO DEEPLY BACKWARD IN PRICE JULY/SEPT IN LONDON FORWARDS.

 
 

Let us have a look at the data for today

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In silver, the total open interest FELL BY 2121 contract(s) DOWN to 206,358 WITH THE  FALL IN PRICE THAT SILVER TOOK WITH YESTERDAY’S TRADING (DOWN 18 CENT(S). WITH THE DATA TODAY, THE ONLY EXPLANATION IS THE COMMERCIALS CONTINUED AS THE SUPPLIER OF THE SHORT PAPER AND COVERED SOME OF THEIR SHORTS.  THE SPECULATORS PITCHED SOME OF THEIR  LONG SIDE PAPER

 In ounces, the OI is still represented by just OVER 1 BILLION oz i.e.  1.033 BILLION TO BE EXACT or 148% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 8 NOTICE(S) FOR 40,000  OZ OF SILVER

In gold, the total comex gold  FELL BY A RATHER TAME 3,841 CONTRACTS WITH THE FALL IN THE PRICE OF GOLD  ($1.50 with YESTERDAY’S TRADING). The total gold OI stands at 487,597 contracts. AGAIN, THE COMMERCIALS SUPPLIED THE SHORT PAPER TO WHICH THE SPECULATORS DECIDED TO LIGHTEN UP A BIT ON THEIR LONGS TO WHICH SOME OF THE COMMERCIALS COVERED THEIR SHORT POSITION. 

we had 2 notice(s) filed upon for 200 oz of gold.

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With respect to our two criminal funds, the GLD and the SLV:

GLD:

Today a huge  change in tonnes of gold at the GLD/strange!! a withdrawal of 3.55 tonnes with gold up $12.00

Inventory rests tonight: 828.84 tonnes

.

SLV

Today: : , WE HAD NO CHANGES AT THE SLV/

INVENTORY RESTS AT 349.012 MILLION OZ

 

 

end

.

First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver  FELL BY  2121 contracts  DOWN TO 206,358 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787), WITH THE FALL IN PRICE FOR SILVER WITH YESTERDAY’S TRADING  (DOWN 18 CENTS ).We  SEEM TO HAVE LOST A FEW OF OUR LONGS. HOWEVER THE OI REMAINS RELATIVELY HIGH COMPARED TO THE LOW PRICE OF SILVER. SILVER IS THE ONLY COMMODITY WHERE WE WITNESS A HIGH OI AND A CORRESPONDING LOW PRICE. IT SHOWS THE POWER OF MANIPULATION. 

(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

3. ASIAN AFFAIRS

i)Late THURSDAY night/FRIDAY morning: Shanghai closed UP 4.25 POINTS OR 0.13%   / /Hang Sang CLOSED UP 43.06 POINTS OR 0.16% The Nikkei closed UP 19.05 POINTS OR 0.09%/Australia’s all ordinaires CLOSED UP 0.51%/Chinese yuan (ONSHORE) closed UP at 6.7825/Oil UP to 46.47 dollars per barrel for WTI and 48.85 for Brent. Stocks in Europe OPENED ALL IN THE GREEN EXCEPT LONDON,, Offshore yuan trades  6.7825 yuan to the dollar vs 6.7825 for onshore yuan. NOW THE OFFSHORE IS EQUAL  TO THE ONSHORE YUAN/ ONSHORE YUAN  STRONGER (TO THE DOLLAR)  AND THE OFFSHORE YUAN IS WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE WEAKER DOLLAR. CHINA IS HAPPY TODAY 

3a)THAILAND/SOUTH KOREA/NORTH KOREA

i)NORTH KOREA

China states that supposedly trade with North Korea grew by only 10.5% in the first 6 months of 2017….the USA wants China to cut off all trade with North Korea.

( zero hedge)

 

b) REPORT ON JAPAN

 

c) REPORT ON CHINA

NHA is one of China’s biggest dealmaker and even though it is private, it holds huge quantities of public companies.  It has used its shares and the shares of its acquisitions as to fund the purchases.  Everything is fine until the price of those acquisitions drop and the face margin calls from Hell..this could present a systemic risk along side Anbang which I brought to your attention last month

 

(courtesy zerohedge)

 
 

4. EUROPEAN AFFAIRS

 
 

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

 

i)TURKEY/RUSSIA/NATO

Not good:  Turkey turns its back on the West (NATO) towards Russia as it buys from its new found friend an advanced missile system for $2.5 billion.

( zero hedge)

ii) To add salt to injury, Turkey bars German lawmakers from visiting its soldiers at NATO’s Incirlik airbase in Turkey

( zero hedge)
 

6 .GLOBAL ISSUES

 
 
 
 

7. OIL ISSUES

i)Saudi Arabia may have a huge problem with corrosion in one of its major oil fields.  If Saudi Arabia has to stop production to remedy the situation, this would remove a major part of the glut

( Cyril Widdershoven/OilPrice.com)

ii) Bearish again for oil as rig count rises to April 2015 level

( zerohedge)

 
 
 
 

8. EMERGING MARKET

 

9.   PHYSICAL MARKETS

i)the mechanics behind the Shanghai Gold Exchange: objectives, productions members, vaulting and settlements
( Bullion Star)
 

ii)This is big news:  Russia’s Sberbank begins physical gold trading on the Shanghai Gold Exchange:

 
( Winning/Reuters/GATA)
 
iii)A very important commentary tonight from Alasdair Macleod.  He comments that it is now in the interest of the Shanghai Cooperation Organization to break completely from the USA dollar and form a sound money system.  He comments on the difficulty they will have to get this going but it is necessary..
 
( Alasdair Macleod)
 
 
 

iii)Cryptos collapse today:

( zero hedge)
 
 
 

10. USA Stories

i)A plethora of data today

First:  Comfort Index plunged! (soft data)

( zero hedge)

ii)The following is a huge disappoint to the uSA and the Fed:  Hard data  Consumer prices disappoint for the 4th month in a row: weakest since 2015:

( zero hedge)

iii)Retail sales down as they are showing the weakest growth in 3 years.  This should put the Fed’s hike intentions on permanent hold for now.  This is June’s reading which is in the 2nd quarter.  This should lower 2nd quarter GDP considerably!!!
 
(courtesy zerohedge)

iv)reaction to the above data points this morning:

( zero hedge)

 

v)More bad news; industrial production growth slows for the first time since January
 
( zero hedge)

vi)Soft data University of Michigan Consumer Confidence tumbles to levels before the election as hope disappears:

(courtesy zero hedge)

vii)The mouthpiece for the Fed has just revealed how Yellen is trapped especially with the data today.  Obviously if she raises rates with lousy data, then the Fed is not data dependent as the raise seeks to adjust risks. Then the Fed loses all of its credibility as they have always stated that they are data dependent
 
( zero hedge)
 

Prior to last night, it was well understood that the USA will run out of money by the first week of October.  When the official debt ceiling was reached in March the government had about 630 billion USA of pension and other pension funds to borrow against to continue spending until everything is exhausted.  However last night, there was an unexpected $427 billion outlay in June much greater than the $330 billion incoming and that deficit caught everyone by surprise. June is generally a surplus month.  Since the Republicans and Democrats cannot agree on anything expect us to reach the “latest” debt ceiling at around the first week of Sept and remember that all members will be enjoying their summer recess

( zero hedge)

viii)The Illinois budget deal was announced last week but the real tragedy is that fact that in order to balance the books, the boys stated that the rate of return on assets will be 7% which is pie in the sky.  Obviously they kicked the can down the road and this will put futures liabilities even greater as thy cannot possibly fund the new retirees.

( zero hedge)

 

Let us head over to the comex:

The total gold comex open interest FELL BY A RATHER TAME 3,841 CONTRACTS DOWN to an OI level of 487,597 WITH THE FALL IN THE PRICE OF GOLD ($1.50 with YESTERDAY’S trading). THE COMMERCIALS SUPPLIED THE SHORT PAPER TO WHICH THE SPECULATORS LIGHTENED UP ON THE LONG SIDE. THERE WAS SOME COMMERCIAL SHORT COVERING.

We are now in the contract month of JULY and it is one of the POORER delivery months  of the year. .

 
 

The non active July contract LOST 53 contract(s) to stand at 32 contracts. We had only 52 notices filed YESTERDAY morning, so we LOST 1 contracts or an additional 100 oz will NOT stand in this non active month of July.  Thus 1 EFP notice(s) was given which gives the long holder a fiat bonus plus a futures contract for delivery and most likely these are London based forwards.  The contracts are private so we do not get to see all the particulars. The next big active month is August and here the OI LOST 16,656 contracts DOWN to 246,805, as this month winds down prior to first day notice.  The next non active contract month is September and here they lost another 5 contracts to stand at 476. The next active delivery month is October and here we gained 430 contracts up to 22,062.  October is the poorest of the active gold delivery months as most players move right to December.

We had 2 notice(s) filed upon today for 200 oz

For those keeping score: in the upcoming front delivery month of August:

On July 11.2016:  open interest for the front month: 349,573 contracts compared to July 14.2017:   264,461.

However last yr at this time we had a record OI in gold at 655,000 contract for the entire complex.

 

 
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And now for the wild silver comex results.  Total silver OI  FELL BY 2121 contracts FROM 208,479 DOWN TO 206,358 WITH YESTERDAY’S 18 CENT LOSS (AND CONSTANT TORMENT THESE PAST FEW WEEKS). OUR BANKER FRIENDS ARE DESPERATELY TRYING TO COVER THEIR SHORTS IN SILVER BUT AS YOU CAN SEE  THEY HAVE NOT BEEN AS SUCCESSFUL AS THEY WOULD HAVE LIKED.THE COMMERCIALS TODAY WERE ONLY ON THE SHORT SIDE AND COVERED SOME SHORTS. THE SPECULATORS WERE ONLY ON THE LONG SIDE TODAY AND PITCHED SOME OF THEIR LONGS.
 
THE OTHER BIG NEWS IS THE FACT THAT AS WE ENTERED FIRST DAY NOTICE AND BEYOND  WE HARDLY HAD ANY OBLITERATION OF OPEN INTEREST. THIS IS THE FIRST TIME THIS HAS HAPPENED IN OVER 2 YEARS.
 
 
 
 
 

We are now in the next big active month will be July and here the OI LOST 41 contracts DOWN to 110. We had 50 notices served  yesterday so we gained 9 notices or an additional  45,000 oz will stand at the comex, and 0 EFP contracts were issued which entitles them to receive a fiat bonus and a future delivery contract (which no doubt is a London based forward).

The month of August, a non active month LOST 126 contracts to stand at 608.  The next big active delivery month for silver will be September and here the OI already LOST ANOTHER 1815 contracts UP to 155,253.

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.

As for the July contracts:

Initial amount that stood for silver for the July 2016 contract:  14.785 million  oz

Final standing JULY 2016:  12.370 million with the difference being EFP’s taking delivery in London.  Thus we are basically on par to what happened a year ago as to the total amount of silver ounces standing.

 

We had 8 notice(s) filed for 40,000 oz for the June 2017 contract

 

VOLUMES: for the gold comex

Today the estimated volume was 159,488 contracts which is fair/

Yesterday’s confirmed volume was 287,789 contracts  which is excellent

volumes on gold are STILL HIGHER THAN NORMAL!

 
Initial standings for JULY
 July 14/2017.
Inventory movements not available today due to the length of time to cook the books
 
Gold Ounces
Withdrawals from Dealers Inventory in oz   nil
Withdrawals from Customer Inventory in oz  
 
 
 
nil oz
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory in oz NIL  oz
Deposits to the Customer Inventory, in oz 
 
 
 
 
 
 
32.15 oz
1 kilobar Brinks
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
 
2 notice(s)
 
200 OZ
 
 
No of oz to be served (notices)
30 contracts
3000 oz
 
Total monthly oz gold served (contracts) so far this month
 
117 notices
11700 oz
.3639 tonnes
Total accumulative withdrawals  of gold from the Dealers inventory this month   NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month   28,599.8 oz
 
 
 
Today we HAD  1 kilobar transaction(s)/ 
We had 0 deposit into the dealer:
 
 
 
 
total dealer deposits: NIL oz
 
We had NIL dealer withdrawals:
 
 
total dealer withdrawals:  NIL oz
we had no dealer deposits:
 
total dealer deposits:  nil oz
 
 
we had 1  customer deposit(s):
 
 i) Into Brinks: 32.15 oz
(1 kilobar)
 
 
 
 
 
 
 
total customer deposits; 32.15  oz
 
We had 0 customer withdrawal(s)
 
 
total customer withdrawals; 0 oz
 
 
 
 
 
 we had 1 adjustment(s): strange!!
 
exactly 100.000 oz was removed from the dealer Delaware and this landed into the customer account of Delaware…how could this be??
 
 
 
 
 
 
For JULY:
 

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 2  contract(s)  of which 0 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.

 
 
 
 
 
 
 
 
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To calculate the initial total number of gold ounces standing for the JULY. contract month, we take the total number of notices filed so far for the month (117) x 100 oz or 11,700 oz, to which we add the difference between the open interest for the front month of JUNE (32 contracts) minus the number of notices served upon today (2) x 100 oz per contract equals 14,700  oz, the number of ounces standing in this NON active month of JULY.
 
Thus the INITIAL standings for gold for the JULY contract month:
No of notices served so far (117) x 100 oz  or ounces + {(32)OI for the front month  minus the number of  notices served upon today (2) x 100 oz which equals 14,700 oz standing in this  active delivery month of JULY  (0.4572 tonnes)
 
We LOST 2 contracts or AN ADDITIONAL 100 oz will NOT stand and 1 EFP contract(s) was issued as described as above.
.
 
 
 
 
 
 
 
 
 
 
 
 
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Total dealer inventory 696,226.154 or 21.655 tonnes  (dealer gold continues to disappear)
Total gold inventory (dealer and customer) = 8,522,223.757 or 265.07 tonnes 
 
 
 
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 265.07 tonnes for a  loss of 38  tonnes over that period.  Since August 8/2016 we have lost 89 tonnes leaving the comex.However I am including kilobar transactions and they are very suspect at best
 
I have a sneaky feeling that these withdrawals of gold in kilobars are being used in the hypothecating process  and are being used in the raiding of gold!
 
 
 
 

 
 
 
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 at MF Global.
 
IN THE LAST 11 MONTHS  86 NET TONNES HAS LEFT THE COMEX.
 
end
 
And now for silver
Again inventory levels not available today as the CME had extreme trouble cooking the books
 
AND NOW THE June DELIVERY MONTH
 
JULY INITIAL standings
 July 14 2017
Silver Ounces
Withdrawals from Dealers Inventory  nil
Withdrawals from Customer Inventory
 
 
 
 
 
 
 
296,869.830 oz
Brinks
CNT
Scotia
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
 
 
 
 
nil  oz
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
615,145.220 oz
 
CNT
Delaware
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
8 CONTRACT(S)
(40,000 OZ)
No of oz to be served (notices)
102 contracts
( 510,000 oz)
Total monthly oz silver served (contracts) 2815 contracts (14,075,000 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 874,711.7 oz
 
 
 
today, we had  0 deposit(s) into the dealer account:
 
 
 
 
total dealer deposit: nil   oz
 
we had Nil dealer withdrawals:
 
total dealer withdrawals: nil oz
 
 
we had 3 customer withdrawal(s):
 
 i) Out of Brinks:  14,297.500 oz
ii) Out of CNT: 213,724.900 oz
iii) Out of Scotia: 48,847.430 oz
 
 
 
 
 
 
 
 
 
TOTAL CUSTOMER WITHDRAWALS:   294,869.83 oz
 
 
 
We had 2 Customer deposit(s):
i) Into CNT: 600,145.220 oz
ii) Into Delaware: 15,313.100 oz
 
 
 
 
***deposits into JPMorgan have now stopped again
In the month of March and February, JPMorgan stopped (received) almost all of the comex silver contracts.
why is JPMorgan bringing in so much silver??? why is this not criminal in that they are also the massive short in silver
 
 
 
 
 
 
 
 
 
 
 
 
 
total customer deposits: 615,458.320 oz
 
 
 we had 0 adjustment(s)
 
 
The total number of notices filed today for the JULY. contract month is represented by 8 contract(s) for 40,000 oz. To calculate the number of silver ounces that will stand for delivery in JULY., we take the total number of notices filed for the month so far at 2815 x 5,000 oz  = 14,075,000 oz to which we add the difference between the open interest for the front month of JULY (110) and the number of notices served upon today (8) x 5000 oz equals the number of ounces standing
 

 

.
 
Thus the INITIAL standings for silver for the JULY contract month:  2815 (notices served so far)x 5000 oz  + OI for front month of JULY.(110 ) -number of notices served upon today (8)x 5000 oz  equals  14,540,000 oz  of silver standing for the JULY contract month.
 
We  gained 9 contracts for an additional 45,000 oz  that will stand at the comex and 0 EFP’s were issued. THE DELIVERY CYCLE IN JULY IS BEHAVING EXACTLY LIKE THE PREVIOUS MONTHS OF MAY, AND JUNE AS THE AMOUNT STANDING INCREASES EVERY SINGLE DAY AND ALSO SURPASSED WHAT WAS STANDING FOR METAL ON FIRST DAY NOTICE.
 
 
 
 
 
 
 
 
 
 
 
 
 
Volumes: for silver comex
 
 
 
Today the estimated volume was 56,580 which is good
YESTERDAY’s  confirmed volume was 81,656 contracts which is  HUGE
 
YESTERDAY’S CONFIRMED VOLUME OF 81,656 CONTRACTS EQUATES TO 423 MILLION OZ OF SILVER OR 60% OF ANNUAL GLOBAL PRODUCTION OF SILVER EX CHINA EX RUSSIA). IN OUR HEARINGS THE COMMISSIONERS STRESSED THAT THE OPEN INTEREST SHOULD BE AROUND 3% OF THE MARKET.
 
 
 
 
 
 
 
 
 
 
 
 
Total dealer silver:  38.502 million (close to record low inventory  
Total number of dealer and customer silver:   213.282 million oz
 
 
 
The record level of silver open interest is 234,787 contracts set on April 21./2017  with the price at that day at  $18.42
 
The previous record was 224,540 contracts with the price at that time of $20.44
 
 
 
 
 
 
 
end
 
 

 

 

 

NPV for Sprott and Central Fund of Canada

 
1. Central Fund of Canada: traded at Negative 6.1 percent to NAV usa funds and Negative 6.3% to NAV for Cdn funds!!!! 
Percentage of fund in gold 63.3%
Percentage of fund in silver:36.6%
cash .+0.1%July 14/2017
 
 
 
 
 
2. Sprott silver fund (PSLV): STOCK   NAV  FALLS TO +0.24% (July 14/2017
3. Sprott gold fund (PHYS): premium to NAV FALLS TO -0.55% to NAV  (July 14/2017 )
Note: Sprott silver trust back  into POSITIVE territory at +0.24/Sprott physical gold trust is back into NEGATIVE/ territory at -0.55%/Central fund of Canada’s is still in jail  but being rescued by Sprott.
 

Sprott’s hostile 3.1 billion bid to take over Central Fund of Canada

(courtesy Sprott/GATA)

Sprott makes hostile $3.1 billion bid for Central Fund of Canada

 Section: Daily Dispatches

From the Canadian Press
via Canadian Broadcasting Corp. News, Toronto
Wednesday, March 8, 2017

http://www.cbc.ca/news/canada/calgary/sprott-takeover-bid-central-fund-c…

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.

end

And now the Gold inventory at the GLD

July 14/[email protected]!!with gold up $12.00 today, we had a huge withdrawal of 3.55 tonnes/inventory rests at 828.84 tonnes

July 13/no change in gold inventory at the GLD/inventory rests at 832.39 tonnes

JULY 12/no change in gold inventory at the GLD/inventory rests at 832.39 tonnes

July 11/[email protected]! we had a big withdrawal of 2.96 tonnes despite gold’s advance today/inventory rests tonight at 832.39 tonnes

July 10/no changes in gold inventory at the GLD/inventory rests at 835.35 tonnes

July 7/a massive withdrawal of 5.32 tonnes of paper gold were removed and this was used in the attack today/inventory rests at 835.35 tonnes

July 6/no changes in tonnage at the GLD/Inventory rests at 840.67 tonnes

July 5/A MASSIVE 5.62 TONNES OF GOLD LEFT THE GLD AND NO DOUBT WAS USED IN THE RAID THIS MORNING/INVENTORY REST

July 3/ A MASSIVE 7.37 TONNES OF GOLD LEAVE THE GLD/INVENTORY RESTS AT 846.29 TONNES

June 30/no change in gold inventory at the GLD/Inventory rests at 853.66 tonnes

June 29/no change in inventory at the GLD/inventory rests at 853.66 tonnes

June 28/no change in inventory at the GLD/Inventory rests at 853.66 tonnes

June 27.2017/a deposit of 2.64 tonnes into the GLD/inventory rests at 853.66 tonnes

June 26/a withdrawal of 2.66 tonnes from the GLD and this gold no doubt was part of the raid/Inventory rests at 851.02

June 23/no change in gold inventory at the GLD/Inventory rests at 853.68 tonnes

June 22/no change in gold inventory at the GLD/Inventory rests at 853.68 tonnes

June 21/no change in gold inventory at the GLD/Inventory rests at 853.68 tonnes

June 20/no  change in gold inventory at the GLD//Inventory rests at 853.68 tonnes

June 19/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 853.68 TONNES

June 16/no changes in gold inventory at the GLD/Inventory rests at 853.68 tonnes

June 15/ a monstrous “paper” withdrawal of 13.32 tonnes/Inventory rests at 853.68 tonnes

June 14./NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 867.00 TONNES

June 13. No change in gold inventory at the GLD/Inventory rests at 867.00 tonnes

June 12/No change in gold inventory at the GLD/Inventory rests at 867.00 tonnes

June 9/no change in inventory at the GLD/Inventory rests at 867.00 tonnes

June 8/AN ADDITION OF 3.07 TONNES OF GOLD ADDED TO THE GLD/INVENTORY RESTS AT 867.00 TONNES

June 7 a huge change in inventory/a deposit of 13.93 tonnes/inventory rests at 864.93 tonnes

June 6/ no changes in inventory at the GLD/Inventory remains at 851.00 tonnes

June 5.2017/no changes at the GLD/Inventory remain at 851.00 tonnes

June 2/2017/a huge deposit of 3.55 tonnes of gold into the GLD/Inventory rests at 851.00 tonnes

June 1/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 847.45 TONNES

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
 
July 14 /2017/ Inventory rests tonight at 832.39 tonnes
 
*IN LAST 190 TRADING DAYS: 118.29 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 131 TRADING DAYS: A NET  9.14 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
*FROM FEB 1/2017: A NET  22.26 TONNES HAVE BEEN ADDED.

end

Now the SLV Inventory

July 14/no change in silver inventory/inventory rests at 349.012 million oz/

July 13/no change in silver inventory/inventory at the SLV rests at 349.012 million oz/

JULY 12/another massive 1.986 million oz of silver added into the SLV/inventory rests at 349.012 million oz/the last 3 days saw 7.281 million oz added into the SV

July 11/ANOTHER MASSIVE INCREASE OF 2.364 MILLION OZ into the SLV inventory/inventory rests at 347.026 million oz

July 10/ A HUGE INCREASE OF 2.931 MILLION OZ OF SILVER DESPITE THE EARLY HIT ON SILVER THIS MORNING/INVENTORY RESTS AT 344.662 MILLION OZ.

July 7/Strange: no change in inventory (compare that with gold) Inventory rests at 341.731 million oz

July 6/ANOTHER MASSIVE DEPOSIT OF 2.126 MILLION OZ INTO THE SLV INVENTORY/INVENTORY RESTS AT 341.731 MILLION OZ.

July 5/STRANGE! NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 339.605 MILLION OZ

July 3/strange! with the huge whacking of silver we got an increase of 379,000 oz into inventory.

June 30/no change in silver inventory at the SLV/Inventory rests at 339.226 million oz

June 29/no change in silver inventory at the SLV/Inventory rests at 339.226 million oz/

June 28/ a small withdrawal of 662,000 oz form the SLV/Inventory rests at 339.226 million oz/

June 27/no change in the silver inventory at the SLV/Inventory rests at 339.888 million oz/

June 26/no change in the silver inventory at the SLV/Inventory rests at 339.888 million oz/

June 23/no change in silver inventory at the SLV/Inventory rests at 339.888 million oz

June 22/ a big change; a huge deposit of 2.175 million oz into the SLV/Inventory rests at 339.888 million oz

June 21/no change in silver inventory at the SLV/inventory rests at 337.713 million oz

June 20/a deposit of 1.513 million oz/inventory rests at 337.713 million oz/.

June 19/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 336.200 MILLION OZ

June 16/no changes in inventory at the SLV/inventory rests at 336.200 million oz

June 15/ a massive “paper withdrawal” of 3.405 million oz of silver/Inventory rests at 336.200 million oz/

June 14/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 339.605 MILLION OZ/

June 13/no change in silver inventory at the SLV/Inventory rests at 339.605 million oz

June 12/no change in silver inventory at the SLV/Inventory rests at 339.605 million oz/

June 9/no change in silver inventory at the SLV/Inventory rests at 339.605 million oz/

June 8/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 339.605 MILLION OZ/

June 7/no change in inventory at the SLV/inventory rests at 339.605 million oz/

June 6/no change in inventory at the SLV/Inventory rests at 339.605 million oz.

June 5/a huge change at the SLV/a withdrawal of 1.371 million oz /inventory rests at 339.605 million oz/

June 2/no change in silver inventory at the SLV/Inventory rests at 340.976 million oz/

June 1/NO CHANGE IN INVENTORY AT THE SLV/INVENTORY RESTS AT 340.976 MILLION OZ

July 14.2017:
 
 Inventory 349.012  million oz
 
end
 
  • 6 Month MM GOFO

    Indicative gold forward offer rate for a 6 month duration

    + 1.08%
     
  • 12 Month MM GOFO
    + 1.40%
  • 30 day trend
     

end

 

Here is a review of the 3 latest comex waterfall (whacks) on gold and silver not including the current one we are undergoing.  I have taken the nadir of the gold price before it started to rise again and compared it to OI in both gold and silver with the OPEN INTEREST.  The OI readings are the following day but we are always one day behind so this compares exactly to the nadir price.
 
 
First waterfall ended Oct 6 2016/ Nadir price of gold at that date Oct 6 2016 : $1254.70 / OI for gold Oct 7/2016: 511,340//OI for silver/Oct 7.2016: 194,811
Second waterfall ended Dec 15.2016:Nadir Price of gold Dec 15.2016:      $1128.20              //OI for gold Dec 16/2016 401,798// OI for silver: Dec 16/16 161,570
Third waterfall ended May 10/2017: Nadir Price of gold May 10 2016:   $1220.95              //  OI for gold May 11: 425,252//  OI for silver May 11/17: 199,826
 
and for comparison while we are undergoing another waterfall these past several weeks
 
 Today’s price of gold $1228.00                                                                                                    OI for gold today: 487,597//Oi for silver  206,358
 
 
The first waterfall corresponds to a silver price of $17.30 on Oct 6
The second waterfall corresponds to a silver price of $15.90 on Dec 15
The third waterfall corresponds to a silver price of $17.37 on May 10
 
and today:  silver price of $16.00
 
 
Since the bottom of the second waterfall the price of gold at its nadir is about the same ($1220 and $1226), but the OI for gold is much higher along with silver OI also much higher. (425,252 and 487,597 OI for gold) accompanying  199,826 and 206,358 for silver)
It seems the data suggests power manipulation to control the price through paper!
 
 
end
At 3:30 pm we await the COT report.  It is important to see what the commercials were doing.  You will recall that they went net long while the specs went net short
Let’s see
 
 
the gold COT
 
Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
217,637 157,377 64,759 147,818 221,734 430,214 443,870
Change from Prior Reporting Period
-4,044 29,495 7,791 16,628 -16,682 20,375 20,604
Traders
160 105 90 56 52 254 215
 
  Small Speculators      
  Long Short Open Interest    
  45,455 31,799 475,669    
  -1,907 -2,136 18,468    
  non reportable positions Change from the previous reporting period  
COT Gold Report – Positions as of Tuesday, July 11, 2017

 

WOW!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Our large speculators

those large speculators that have been long in gold pitched 4,044 contracts from their short side

those large speculators that have been short in gold added a whopping 29,495 contracts to their short side and thus by today if the data is half accurate would be annihilated.

thus the large specs go net short by 33,000

Our commercials

those commercials that have been long in gold went long a huge 16,628 contracts to their long side

those commercials that have been short in gold covered 16,652 contracts from their short side.

thus the commercials go net long by a tiny 33,000 contracts.

Our small speculators

those small specs that have been long in gold pitched 1907 contracts from their long side

those small specs that have been short in gold covered 2136 contracts from their short side.

Conclusions:

the commercials continue buying up gold contracts and the specs continue on the short side and yet the annihilation was so far tiny!

 

James McShirley: I need help on this one!!

 

Let us now head over to the silver COT

let us see if we witness the same modus operandi by the crooked banks

 

 

Silver COT Report: Futures
Large Speculators Commercial
Long Short Spreading Long Short
91,174 77,169 23,907 65,517 90,084
-822 11,448 3,307 3,956 -10,705
Traders
111 66 48 40 33
Small Speculators Open Interest Total
Long Short 207,592 Long Short
26,994 16,432 180,598 191,160
-2,390 1 4,051 6,441 4,050
non reportable positions Positions as of: 173 127
  Tuesday, July 11, 2017   © SilverS

 

 

Our large speculators

those large specs that have been long in silver pitched 822 contracts from their long side

those large specs that have been short in silver continued to add to their shorts by a whopping 10,705 contracts.

 

the large specs went net short by 12,300 contracts.

 

the specs seemed to stop adding to their shortfall on Thursday but that will be in the next COT report

Our commercials

those commercials that have been long in silver added 3956 contracts to their long side

those commercials that have been short in silver covered 10,705 contracts

the commercials go net long by 14,600 contracts.

Our small speculators

those small specs that have been long in silver pitched 2390 contracts from their long side.

those small specs that have been short in silver added one contract to their short side.

Conclusions:

the specs went net short again by 12,300 with the commercials going net long by 14,600 contracts..and yet the price did not move until today

the specs should have been annihilated by now!!