BANKERS ORCHESTRATE A RAID PRIOR TO OPTIONS EXPIRY AT THE LBMA/OTC MARKETS/ SILVER OPEN INTEREST NOW RISES TO 175,000 NEAR MULTI YEAR HIGHS DESPITE A LOW PRICE/JAPANESE INDUSTRIAL PRODUCTION PLUNGES/CHINA FIXES YUAN MUCH HIGHER GIVING THANKS TO YELLEN’S DOVISHNESS
Gold: $1,226.90 down $8.90 (comex closing time)
Silver 15.21 down 9 cents
In the access market 5:15 pm
Yesterday, I promised you that the bankers would attack today in both gold and silver. My boys did not disappoint me with their antics.
Let us have a look at the data for today.
At the gold comex today, we had a good delivery day, registering 20 notices for 2000 ounces and for silver we had 9 notices for 45,000 oz for the active March delivery month.
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 213.04 tonnes for a loss of 90 tonnes over that period.
In silver, the open interest ROSE by 3373 contracts UP to 175,245 as the silver price was up 4 cents with respect to yesterday’s trading . In ounces, the OI is still represented by .876 billion oz or 125% of annual global silver production (ex Russia ex China).
In silver we had 9 notices served upon for 45,000 oz.
In gold, the total comex gold OI fell slightly by 2195 contracts to 480,441 contracts as the price of gold was UP $15.70 with yesterday’s trading.(at comex closing) which should have caused the OI to rise. However, we also are entering the new active month of April and that usually causes an obliteration of OI. The two cancelled each other out and we had a net loss of 2195 contracts.
We had a no changes in the GLD/ thus the inventory rests tonight at 820.47 tonnes. No doubt that will changetomorrow considering Yellen’s dovish comments today with regards to the raising of rates. The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold. Our 670 tonnes of rock bottom inventory in GLD gold has been broken. It looks to me that China has taken the last amounts of physical gold from the GLD. I guess the only place left for China to receive physical gold, after they deplete the GLD will be the FRBNY and the comex. In silver,we had no changes in inventory tonight and thus the Inventory rests at 330.389 million oz.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver rose by 3373 contracts up to 175,245 as the price of silver was up 4 cents with yesterday’s trading.Investors flocked into silver on the dovish Yellen speech where she indicated that she is reticent to raise rates. The total OI for gold fell by 2,195 contracts to 480,441 contracts as gold was up $15.70 in price from yesterday’s level and we are now entering a new active delivery month.
2 a) Gold trading overnight, Goldcore
2b COT report/
3. ASIAN AFFAIRS
i)Late TUESDAY night/ WEDNESDAY morning: Shanghai closed UP BY 80.81 POINTS OR 2.77% , / Hang Sang closed UP 437.09 POINTS OR 2.15% / The Nikkei closed DOWN 224.57 POINTS OR 1.31% . Australia’s all ordinaires was CLOSED UP 0.11%. Chinese yuan (ONSHORE) closed UP at 6.4774. Oil ROSE to 38.99 dollars per barrel for WTI and 39.66 for Brent. Stocks in Europe ALL IN THE GREEN . Offshore yuan trades 6.4808 yuan to the dollar vs 6.4774 for onshore yuan. Japanese INDUSTRIAL PRODUCTION plunges the most in almost 5 years as negative interest rates ARE KILLING BUSINESS. (see below)
REPORT ON JAPAN
Industrial production collapses by the most in 5 yrs
REPORT ON CHINA
POBC responds to Yellen by raising yuan value
Amazing, 1/3 of all sales in Vancouver, Canada came from wealthy Chinese who are desperate to take their yuan and buy assets like homes and gold. It did not help Alberta as their housing market is dead as can be:
( zero hedge)
i)Oil pops in price as USA production tumbles to 16 month lows:
( zero hedge)
i)My goodness these guys are good. They can buy 846 tonnes of silver (27.1 million oz) in March so far without causing the price to rise.
( zero hedge)
ii)A must read…James Turk describes the gold options manipulation from Europe and the manipulation is even worse than in the uSA
( James turk/Kingworldnews)
iii)Quite a good article. Rickards states that as the world continues to advance the theory and use negative interest rates, the more gold will be used. Why? gold does not pay out an interest rate. Rickards states that the Swiss refiners are working 24/7 at great speed to produce kilobars
( James Rickards/GATA)
iv)Very unusual that Chris Powell was granted an interview to talk about gold manipulation on a Toronto radio station
(Chris Powell/GATA/CFMJ ratio station)
v)Strange!!: we now hear that Germany wants 1/2 of its gold back by 2020. For the past 3 months they got zero from the FRBNY.
We wish Germany all the luck in the world:
( Lawrie on Gold/Lawrie Williams/Sharp’s Pixley)
vi)Steve St Angelo compares the purchases of gold eagles vs silver eagles over a 30 yr period and also compares sales of gold/silver eagles vs inventory held at SLV/GLD
( Steve St Angelo/SRSRocco report)
USA STORIES WHICH WILL INFLUENCE THE PRICE OF GOLD/SILVER
i)Rail traffic volumes tumble greatly as coal is being stockpiled at an alarming and record rate. The USA economy is faltering!
( zero hedge)
ii)Boeing will terminate 4500 jobs this year. So much for the uSA recovery. Any the USA is creating jobs??
Let us head over to the comex:
The total gold comex open interest fell to 480,441 for a loss of 2195 contracts despite the fact that the price of gold was up $15.70 in price with respect to yesterday’s trading as we are now entering the active delivery month of April. For the past two years, we have strangely witnessed two interesting developments with respect to the gold open interest: 1) total gold comex collapse in OI as we enter an active delivery month or for that matter an inactive month, and 2) a continual drop in the amount of gold standing in an active month. Today, the OI fell but not nearly as much due to the dovish Yellen speech of yesterday. The front March contract month is now off the board. After March, the active delivery month of April saw it’s OI fall by 57,994 contracts down to 29,571 which is extremely high for one day to go. The next non active contract month of May saw its OI rise by 349 contracts up to 2585. The estimated volume today (which is just comex sales during regular business hours of8:20 until 1:30 pm est) was good at 250,358. However we had considerable rollovers.. The confirmed volume yesterday (which includes the volume during regular business hours + access market sales the previous day was excellent at 401,093 contracts. The comex is not in backwardation. First day notice is tomorrow, March 31. The options for the comex was over on Tuesday. However we still have LBMA options and OTC options which expire March 31.2016.
Today we had 20 notices filed for 2000 oz in gold.
March contract month:
FINAL standings for MARCH
|Withdrawals from Dealers Inventory in oz||nil|
|Withdrawals from Customer Inventory in oz nil||128.60 ozBrinks,Manfra|
|Deposits to the Dealer Inventory in oz||NIL|
|Deposits to the Customer Inventory, in oz||9596.45 ozBrinks,Delaware
|No of oz served (contracts) today||20 contracts
|No of oz to be served (notices)||nil oz/off the board|
|Total monthly oz gold served (contracts) so far this month||743 contracts (74,300 oz)|
|Total accumulative withdrawals of gold from the Dealers inventory this month||nil|
|Total accumulative withdrawal of gold from the Customer inventory this month||192,421.9 oz|
Today we had 0 dealer deposits
Total dealer deposits; nil oz
Today we had 0 dealer withdrawals:
total dealer withdrawals: nil oz
Today we had 2 customer deposits: AND ANOTHER DOOZY
i) Into brinks: 9500.00000 oz (not divisible by 32.15 and therefore no kilobars!! how is this possible???????)
ii) Into Delaware; 96.45 oz
total customer deposits: 9596.45 oz oz
Today we had 2 customer withdrawals:
i) Out of Brinks: 32.15 oz (1 kilobar)
ii) Out of Manfra: 96.45 oz
total customer withdrawals; 128.60 oz
Today we had 0 adjustment:
MARCH FINAL standings
|Withdrawals from Dealers Inventory||nil|
|Withdrawals from Customer Inventory||16,011.16 OZ. BRINKS,CNT,|
|Deposits to the Dealer Inventory||nil|
|Deposits to the Customer Inventory||47,112.75 ozbrinks|
|No of oz served today (contracts)||9 contracts45,000 oz|
|No of oz to be served (notices)||off the board)|
|Total monthly oz silver served (contracts)||1355 contracts (6,775,000 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||11,215,705.4 oz|
today we had 0 deposits into the dealer account
total dealer deposit: nil oz
we had 0 dealer withdrawals:
total dealer withdrawals: nil
we had 1 customer deposits
i) Into Brinks: 47,112.75 oz
total customer deposits: 47,112.75 oz
We had 2 customer withdrawals:
i) Out of Brinks:
ii) Out of CNT: 7978.35 oz
total customer withdrawals: 16,011.16 oz
we had 0 adjustments
And now the Gold inventory at the GLD
MARCH 30/no changes in inventory/inventory rests tonight at 820,47 tonnes
March 29/a withdrawal of 3.27 tonnes of gold from the GLD/Inventory rests at 820.47 tonnes. (No doubt we will see a rise in gold inventory with tomorrow’s reading)
March 28/no change in inventory at the GLD/Inventory rests at 823.74 tonnes
March 24.2016: a deposit of 2.08 tonnes of gold into its inventory/and this after a big drubbing these past two days??/Inventory rests at 823.74 tones
March 23/no changes at the GLD today despite the gold drubbing. Inventory rests at 821.66 tonnes
March 22./no changes in inventory at the GLD/Inventory rests at 821.66 tonnes
MARCH 21/another big deposit of 2.68 tonnes/inventory rests tonight at 821.66 tonnes
(and this was done with gold down $10.00 today!!)
March 18.I GIVE UP!! WITH GOLD DOWN TODAY, THE CROOKS OVER AT GLD ADDED ANOTHER IDENTICAL 11.89 TONNES OF PAPER GOLD INTO THEIR INVENTORY.
INVENTORY RESTS THIS WEEKEND AT 818.98 TONNES. IF I WAS A SHAREHOLDER OF THIS ENTITY I WOULD BE VERY WORRIED.
March 17/we had a whopper of a deposit tonight: 11.89 tonnes/with London in backwardation this is nothing but a paper addition/inventory rests tonight at 807.09 tonnes
March 16.2016:/we had a deposit of 2.09 + 2.97(last in the evening) tonnes of gold into the GLD/Inventory rests at 795.20 tonnes
March 15/ no changes in gold inventory at the GLD/Inventory rests at 790.14 tonnes
March 30.2016: inventory rests at 820.47 tonnes