Harvey Organ: 69% of Annual Silver Production Traded On Friday Alone

Harvey Organ says that somebody wants silver in a big way as dealers are jumping the queue trying to find it…

by Harvey Organ of Harvey Organ Blog

SEPT 15/YOUR USUAL FRIDAY WHACKING ON GOLD AND SILVER/GOLD DOWN $4.25 AND SILVER WAS DOWN 13 CENTS/OPEN INTEREST IN SILVER CONTINUES TO RISE COUPLED WITH ANOTHER 845,000 OZ GAIN IN AMOUNT STANDING/NORTH KOREA LAUNCHES ANOTHER BALLISTIC MISSILE AND EVERYBODY YAWNS/THE BILL FOR IRMA AND HARVEY MAY TOP 300 BILLION USA AND THE WORLD YAWNS/TERRORIST ATTACK IN LONDON AND IN FRANCE/ UK NOW ON CRITICAL TERROR THREAT MEANING AN ATTACK IS IMMINENT/USA RETAIL SALES PLUMMET IN AUGUST ALONG WITH INDUSTRIAL PRODUCTION/

GOLD: $1321.40 DOWN $4.25

Silver: $17.64 DOWN 13 CENT(S)

Closing access prices:

Gold $1320.30

silver: $17.61

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: $1334.30 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1331.30

PREMIUM FIRST FIX: $3.00

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SECOND SHANGHAI GOLD FIX: $1332.13

NY GOLD PRICE AT THE EXACT SAME TIME: $1329.95

Premium of Shanghai 2nd fix/NY:$2.18

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LONDON FIRST GOLD FIX: 5:30 am est $1325.00

NY PRICING AT THE EXACT SAME TIME: $1325.75

LONDON SECOND GOLD FIX 10 AM: $1322.85

NY PRICING AT THE EXACT SAME TIME. 1324.65 ???

For comex gold:

SEPTEMBER/

NOTICES FILINGS TODAY FOR SEPT CONTRACT MONTH: 0 NOTICE(S) FOR nil OZ.

TOTAL NOTICES SO FAR: 54 FOR 5400 OZ (0.1679 TONNES)

For silver:

SEPTEMBER

226 NOTICES FILED TODAY FOR

1,130,000 OZ/

Total number of notices filed so far this month: 5,479 for 27,395,000 oz

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end

Despite the ballistic launch by North Korea, the bill for Hurricane Harvey and Irma may approach 300 billion dollars, retail sales in the uSA and industrial production sink, the boys decided again to raid our precious metals. Friday is a good day for them to raid as they do not have to worry about providing any physical because of the weekend. They love to hit anytime after 10 am est -1200 am est and that is because the physical market in London has already been put to bed. The COT report is really lopsided in both gold and silver and that in itself explains why they raid.

Let us have a look at the data for today

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In silver, the total open interest ROSE BY A RATHER LARGE 2577 contracts from 188,971 UP TO 191,548 DESPITE THE DROP IN PRICE THAT SILVER UNDERTOOK IN YESTERDAY’S TRADING (DOWN 2 CENT(S). WE HAVE NOW HAD FIVE DAYS OF TORMENT AND YET THE SILVER OPEN INTEREST HARDLY BUDGES SOUTHBOUND..ONLY ADVANCES NORTHBOUND. THE LONGS ARE REMAINING STOIC AND REFUSE TO GIVE IN TO THE ANTICS OF THE BANKERS. NO WONDER WE ARE UNDERGOING ANOTHER DAY OF TORMENT TODAY AS THE BANKS SEEMED TRAPPED IN THE OWN JUICE…THEY ARE DESPERATELY TRYING TO CAUSE SOME OF THE SILVER LEAVES TO FALL FROM THE SILVER TREE. WE WILL KNOW LATE TONIGHT IF THEY HAD ANY SUCCESS!

RESULT: A STEADY RISE IN OI COMEX DESPITE THE 2 CENT PRICE LOSS.

In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.958 BILLION TO BE EXACT or 137% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 226 NOTICE(S) FOR 1,130,000 OZ OF SILVER

In gold, the open interest FELL BY A SMALL 2666 CONTRACTS DESPITE THE GAIN in price of gold ($1.10 GAIN YESTERDAY). The new OI for the gold complex rests at 576,765. THE BANKERS ORCHESTRATED ANOTHER RAID THIS MORNING WORRIED ABOUT THE STEADY OI RISE IN SILVER AND THE HIGH OI IN GOLD, AS THE BANKERS TRY TO FLEECE INVESTORS OF THEIR LONG POSITIONS.

Result: A SMALL DECREASE IN OI DESPITE THE RISE IN PRICE IN GOLD ($1.10). THE COMMERCIALS SUPPLIED THE NECESSARY SHORT PAPER. WE HAVE ANOTHER RAID ORCHESTRATED THIS MORNING AS THE BANKERS ARE DESPERATE TO SHAKE OUR PRECIOUS METALS FROM THEIR RESPECTIVE TREE

we had: 0 notice(s) filed upon for nil oz of gold.

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

GLD:

Tonight , we had no change in gold inventory last night:

Inventory rests tonight: 838.64 tonnes

SLV

Today: no change in inventory.

INVENTORY RESTS AT 327.088 MILLION OZ

end

.

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

1. Today, we had the open interest in silver ROSE BY A STEADY 2577 contracts from 188,971 UP TO 191,548(AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE YESTERDAY’S 2 CENT LOSS IN TRADING. OUR LONGS ARE STRONG AND REFUSE TO BUDGE WITH THE ANTICS OF OUR BANKERS.

RESULT: A STEADY RISE IN OI AT THE COMEX DESPITE THE FALL IN PRICE OF 2 CENTS. WE HAVE ANOTHER RAID UNDERWAY THIS MORNING BY OUR BANKERS AS THE OPEN INTEREST ON BOTH GOLD AND SILVER REFUSE TO BUDGE

(report Harvey)

 

Let us head over to the comex:

The total gold comex open interest FELL BY A SMALL 2577 CONTRACTS DOWN to an OI level of 577,765 DESPITE THE GAIN IN THE PRICE OF GOLD ($1.10 GAIN IN YESTERDAY’S trading). THE HIGH OPEN INTEREST IN GOLD RESULTS IN MORE BANKER TORMENT AS THESE CROOKS TRY AND LIBERATE GOLD LEAVES FROM THE GOLD TREE. YESTERDAY THEY HAVE SUCCEEDED IN LIBERATING A TINY NUMBER OF OPEN INTEREST. WE AWAIT TONIGHT TO SEE IF ANY MORE GOLD LEAVES FELL!

Result: a SMALL SIZED open interest DECREASE with a RISE IN THE PRICE OF GOLD TO THE TUNE OF $1.10

The new non active September contract month saw it’s OI RISE BY 298 contracts UP to 1111. We had 0 notices filed UPON YESTERDAY so we GAINED 298 contracts or an additional 29,800 oz will stand AND 0 EFP’s WERE ISSUED which entitles them to a fiat bonus plus a deliverable contract on a different exchange and most likely that would be London. These are private deals so we do not get to see the makeup of these deals only the number of EFP’s issued. SOMEBODY WAS IN URGENT NEED OF PHYSICAL GOLD LAST NIGHT.

The next active contract month is Oct and here we saw a LOSS of 291 contracts DOWN to 38,987.

The November contract saw A GAIN OF 25 contracts UP to 438.

The very big active December contract month saw it’s OI LOSS OF 3752 contracts DOWN to 452,222.

We had 0 notice(s) filed upon today for nil oz

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And now for the wild silver comex results. Total silver OI ROSE BY A STEADY 2,577 CONTRACTS FROM 188,971 UP TO 191,548 DESPITE YESTERDAY’S 2 CENT LOSS IN PRICE. DESPITE THE CONSTANT TORMENT FROM THE BANKERS, OUR LONGS REMAIN RESOLUTE DETERMINED TO TAKE ON OUR BANKERS AS NO SILVER LEAVES FELL FROM THE SILVER TREE. DEMAND FOR PHYSICAL SILVER REMAINS EXTREMELY HIGH AS AGAIN THE AMOUNT STANDING FOR DELIVERY INCREASED AGAIN AND THIS TIME BY A WHOPPING 845,000 OZ. WE HAVE BEEN WITNESSING THIS PHENOMENA FOR THE PAST 5 MONTHS. (SEE BELOW).
RESULT: A STEADY INCREASE IN OI AT THE COMEX DESPITE A 2 CENT LOSS IN PRICE. DEMAND FOR PHYSICAL SILVER RISES AGAIN AS THE AMOUNT STANDING INCREASES FOR THE SEPT CONTRACT MONTH BY A WHOPPING 845,000 OZ. THE BANKERS THIS TIME WERE RETICENT TO SUPPLY THE NECESSARY SHORT PAPER AS THEY COULD NOT CAUSE MORE SILVER LEAVES (OI) TO FALL!!. JUDGING FROM THE TRADING IN GOLD/SILVER TODAY, THE BANKERS SEEM TRAPPED AS THEY RAID TRYING TO COVER SOME OF THEIR HUGE PAPER SHORTS. LATE TONIGHT WE WILL SEE IF THEY HAD ANY SUCCESS IN CAUSING SILVER LEAVES TO FALL.
We are now in the active contract month of September (and the last active month until December). Today we witness Sept. OI LOSS OF 186 contacts DOWN to 736. We had 355 notices filed yesterday, so we again gained 169 contracts or an additional 845,000 oz will stand for delivery. This phenomenon has been happening in silver for the past 5 months whereby the amount standing increases on each and every delivery day. This queue jumping highlights the huge demand for silver that we have been witnessing around the globe. The next non active contract month for silver after September is October and here the OI LOST 87 contacts DOWN TO 941. November saw a GAIN of 0 contract(s) and thus REMAINING AT 64. After November, the NEXT big active contract month is December and here the OI LOST 994 contracts DOWN to 156,795 contracts.

We had 226 notice(s) filed for 1,330,000 oz for the SEPT. 2017 contract

VOLUMES: for the gold comex

ESTIMATED VOLUME TODAY: 196,550 CONTRACTS WHICH IS FAIR

(not available today)

YESTERDAY’S confirmed volume was 348,625 which is EXCELLENT

volumes on gold are STILL HIGHER THAN NORMAL!

INITIAL standings for SEPTEMBER
Sept.15/2017.

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
NIL oz
No of oz served (contracts) today

0 notice(s)
NIL OZ
No of oz to be served (notices)
1111 contracts
(111,100 oz)
Total monthly oz gold served (contracts) so far this month
54 notices
5400 oz
0.1679 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 9,996.8 oz

Today we HAD 0 kilobar transaction(s)/
total dealer deposits: nil oz
We had nil dealer withdrawals:
total dealer withdrawals: 0 oz
we had 0 customer deposit(s):
total customer deposits; NIL oz
We had 0 customer withdrawal(s)
total customer withdrawals;NIL oz
we had 1 adjustment(s)
i) Out of Brinks: 18,033.383 oz was adjusted out of the dealer and this landed into the customer account of Brinks
For SEPT:
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 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 SEPTEMBER. contract month, we take the total number of notices filed so far for the month (54) x 100 oz or 5400 oz, to which we add the difference between the open interest for the front month of SEPT. (1111 contracts) minus the number of notices served upon today (0) x 100 oz per contract equals 116,500 oz, the number of ounces standing in this active month of SEPT.

Thus the INITIAL standings for gold for the SEPTEMBER contract month:
No of notices served so far (54) x 100 oz or ounces + {(1111)OI for the front month minus the number of notices served upon today (0) x 100 oz which equals 116,500 oz standing in this active delivery month of SEPTEMBER (3.6236 tonnes)
We GAINED 298 contracts OR AN ADDITIONAL 29800 OZ standing FOR GOLD and 0 EFP’s were issued for September which gives the long holder a fiat bonus plus a deliverable product on another exchange and that most likely will be London.
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Total dealer inventory 713,322.712 or 22.187 tonnes (dealer gold continues to disappear)
Total gold inventory (dealer and customer) = 8,696,115.287 or 270.48 tonnes

Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 270.48 tonnes for a loss of 33 tonnes over that period. Since August 8/2016 we have lost 34 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 13 MONTHS 84 NET TONNES HAS LEFT THE COMEX.
end
And now for silver
AND NOW THE AUGUST DELIVERY MONTH
September initial stand

Withdrawals from Dealers Inventory nil
Withdrawals from Customer Inventory
50,460.580oz
Scotia
Deposits to the Dealer Inventory
nil oz
Deposits to the Customer Inventory
nil oz
No of oz served today (contracts)
226 CONTRACT(S)
(1,330,000 OZ)
No of oz to be served (notices)
510 contracts
(2,550,000 oz)
Total monthly oz silver served (contracts) 5479 contracts (27,395,000 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 4,359,304.5 oz

today, we had 0 deposit(s) into the dealer account:
total dealer deposit: nil oz
we had 0 dealer withdrawals:
total dealer withdrawals: nil oz
we had 1 customer withdrawal(s):
i) out of Scotia 18,033.383 oz
TOTAL CUSTOMER WITHDRAWALS: 18,033.383 oz
We had 0 Customer deposit(s):
***deposits into JPMorgan have 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: nil oz

we had 0 adjustment(s)
The total number of notices filed today for the SEPTEMBER. contract month is represented by 226 contract(s) for 1,130,000 oz. To calculate the number of silver ounces that will stand for delivery in SEPTEMBER., we take the total number of notices filed for the month so far at 5479 x 5,000 oz = 27,395,000 oz to which we add the difference between the open interest for the front month of SEPT (736) and the number of notices served upon today (226) x 5000 oz equals the number of ounces standing.

Thus the INITIAL standings for silver for the SEPTEMBER contract month: 5479 (notices served so far)x 5000 oz + OI for front month of SEPTEMBER(736 ) -number of notices served upon today (226)x 5000 oz equals 29,945,000 oz of silver standing for the SEPTEMBER contract month. This is excellent for this active delivery month. Silver is being constantly demanded at the silver comex and we witness again the amount of silver demanded daily increase right from the get go. (ON AUGUST 31 (FIRST DATE NOTICE) WE HAD 20.15 MILLION OZ STAND. THUS IN THE FIRST 15 DAYS OF SEPTEMBER, WE HAVE HAD A HUGE INCREASE OF 9.9 MILLION OZ STAND FOR DELIVERY AS DEALERS JUMP QUEUE TRYING TO FIND THE NECESSARY SILVER TO SUPPLY TO OUR LONGS.)

WE HAD AN INCREASE OF 169 CONTRACTS OR AN ADDITIONAL 845,000 OZ OF SILVER WILL STAND FOR DELIVERY IN THIS ACTIVE CONTRACT MONTH OF SEPTEMBER. THIS HAS BEEN THE 5th CONSECUTIVE MONTH THAT WE HAVE WITNESSED EITHER AN INCREASE (95% OF THE TIME) OR STANDING PAT (THE OTHER 5%). WE HAVE NOT HAVE A DECREASE IN STANDING I.E. AS THEY DELIVERY MONTH PROCEEDS NOBODY WISHES AN EFP PRODUCT IN EXCHANGE FOR A DEPARTING LONG.SOMEBODY BIG WANTS SILVER IN A VERY BIG WAY.
Last yr on the first day notice for the Sept silver 2016 contract we had 17.070 million oz stand for delivery.
By month end: 16.075 million oz/

Volumes: for silver comex
ESTIMATED VOLUME TODAY: 38,953 CONTRACTS
WHICH IS GOOD
YESTERDAY’s confirmed volume was 96,741 contracts which is EXCELLENT
YESTERDAY’S CONFIRMED VOLUME OF 96,741 CONTRACTS WHICH EQUATES TO 483 MILLION OZ OF SILVER OR 69% 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: 43.694 million (close to record low inventory
Total number of dealer and customer silver: 218.246 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