Harvey Organ: It Sure Looks Like The Bankers Are Capitulating In Silver

Harvey says the capitulation is happening both on the COMEX and in London.

by Harvey Organ of Harvey Organ Blog

JAN 26/GOLD DOWN $11.00 TO $1352.00 AFTER REBOUNDING FROM $1348//SILVER ALSO REBOUNDS NICELY FROM $17.30 TO CLOSE AT $1742/GOLD EFP’S FOR TODAY: 8445 CONTRACTS/EFP’S ISSUANCE FOR SILVER: 2748 CONTRACTS/THE DOLLAR CONTINUES IT DOWNWARD TRAJECTORY FINISHING JUST ABOVE 89.00/THE 10 YR USA BOND CONTINUES TO FALL WITH THE YIELD NOW AT 2.66% AND THAT IS IN DANGEROUS TERRITORY/MORE BAD NEWS FOR TRUMP AS THE 4TH QUARTER GDP FIRST READING FALLS TO 2.6% INSTEAD OF THE PROJECTED 4 TO 5%/ MORE SWAMP NEWS/

GOLD: $1352.00 DOWN $11.00

Silver: $17.42 DOWN 21 cents

Closing access prices:

Gold $1350.80

silver: $17.44

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: $1361.58 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1352.20

PREMIUM FIRST FIX: $9.38

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SECOND SHANGHAI GOLD FIX: $1368.09

NY GOLD PRICE AT THE EXACT SAME TIME: $1355.75

Premium of Shanghai 2nd fix/NY:$8.30

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1354.35

NY PRICING AT THE EXACT SAME TIME: $1354.35

LONDON SECOND GOLD FIX 10 AM: $1353.15

NY PRICING AT THE EXACT SAME TIME. $1353.10

For comex gold:

JANUARY/

NUMBER OF NOTICES FILED TODAY FOR JANUARY CONTRACT: 1 NOTICE(S) FOR 100 OZ.

TOTAL NOTICES SO FAR: 696 FOR 69600 OZ (2.1648 TONNES),

For silver:

jANUARY

1 NOTICE(S) FILED TODAY FOR

5,000 OZ/

Total number of notices filed so far this month: 728 for 3,640,000 oz

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Bitcoin: BID $10,369/OFFER $10,469  DOWN $722 (morning)

 Bitcoin: BID/   $10,913/   $11,013 offer down $177  (CLOSING/4 PM)

end

Let us have a look at the data for today

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In silver, the total open interest FELL BY A FAIR SIZED 1456 contracts from 205,874 FALLING TO 204,418 DESPITE YESTERDAY’S GOOD 13 CENT GAIN IN SILVER PRICING.  OBVIOUSLY WE HAD SOME COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER HUGE SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  2698 EFP’S FOR MARCH AND 50  FOR FEBRUARY(SOMEBODY BADLY NEEDS PHYSICAL AND HAS TO GO TO LONDON TO GET IT) AND ZERO FOR ALL  OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 2748 CONTRACTS. HOWEVER THE MOVEMENT ACROSS TO LONDON IS NOT AS SEVERE AS IN GOLD AS THERE SEEMS TO BE  MAJOR PLAYERS WILLING TO TAKE ON THE BANKS AT THE COMEX. STILL, WITH THE TRANSFER OF 2748 CONTRACTS, WHAT THE CME IS STATING IS THAT THERE IS NO SILVER (OR GOLD) TO BE DELIVERED UPON AT THE COMEX AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24 HRS IN THE ISSUING OF EFP’S.

ACCUMULATION FOR EFP’S/SILVER/ STARTING FROM FIRST DAY NOTICE/FOR MONTH OF JANUARY:

43,410 CONTRACTS (FOR 19 TRADING DAYS TOTAL 43,410 CONTRACTS OR 217.050 MILLION OZ: AVERAGE PER DAY: 2285 CONTRACTS OR 11.423 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  217.05 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 30.07% OF ANNUAL GLOBAL PRODUCTION

RESULT: A SMALL SIZED LOSS IN OI COMEX DESPITE THE 13 CENT GAIN IN SILVER PRICE.  WE HOWEVER HAD A HUGE SIZED EFP ISSUANCE OF 2748 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. SPECULATORS CONTINUED THEIR INTEREST IN ATTACKING THE SILVER COMEX FOR PHYSICAL SILVER . FROM THE CME DATA 2748 EFP’S WERE ISSUED FOR TODAY  FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE REALLY GAINED 1292 OI CONTRACTS i.e. 2748 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 1456  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE RISE IN PRICE OF SILVER OF 13 CENTS AND A CLOSING PRICE OF $17.63 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A GOOD AMOUNT OF SILVER STANDING AT THE COMEX.

In ounces AT THE COMEX, the OI is still represented by just OVER 1 BILLION oz i.e. 1.022 BILLION TO BE EXACT or 146% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JANUARY MONTH/ THEY FILED: 1 NOTICE(S) FOR 5,000 OZ OF SILVER

In gold, the open interest FELL  BY A HUMONGOUS 24,817 CONTRACTS DOWN TO 573,135 DESPITE THE GOOD SIZED RISE IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($5.80). IN ANOTHER HUGE DEVELOPMENT, WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FOR FRIDAY AND IT TOTALED A GOOD SIZED  8445 CONTRACTS OF WHICH FEBRUARY SAW 7766 CONTRACTS ISSUED AND  APRIL SAW THE ISSUANCE OF 679 CONTRACTS.    The new OI for the gold complex rests at 581,778. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EFP DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. DUE TO THE DELAY IN THE RELEASE OF YESTERDAY’S DATA YOU CAN BET THE FARM THAT THEY HAVE DELAYED THE RELEASE OF MANY EFPS. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE CONTINUE TO WITNESS A HUGE NUMBER OF EFP TRANSFERS TOGETHER WITH THE MASSIVE INCREASE IN GOLD COMEX OI  TOGETHER WITH  THE TOTAL AMOUNT OF GOLD OUNCES STANDING FOR JANUARY COMEX. EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER (BIG RISE IN BOTH GOFO AND SIFO) AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES. IN ESSENCE TODAY WE HAVE A LOSS OF 16,372  CONTRACTS: 24,817 OI CONTRACTS DECREASED AT THE COMEX AND A GOOD SIZED  8445 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. EXPECT HUGE NUMBERS OF EFP’S TO BE ISSUED AS WE APPROACH FIRST DAY NOTICE IN THE GOLD FEB COMEX CONTRACT, WEDNESDAY JAN 31.2018

YESTERDAY, WE HAD 20,747 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JANUARY STARTING WITH FIRST DAY NOTICE: 193,663 CONTRACTS OR 19.366 MILLION OZ OR 602.363 TONNES(19 TRADING DAYS AND THUS AVERAGING: 10,192 EFP CONTRACTS PER TRADING DAY OR 1,019,200 OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 17 TRADING DAYS: IN  TONNES: 602 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2200 TONNES

THUS EFP TRANSFERS REPRESENTS 602/2200 TONNES =  27.36% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JANUARY ALONE.

Result: A  STRONG SIZED DECREASE IN OI AT THE COMEX DESPITE THE GOOD SIZED RISE IN PRICE IN GOLD TRADING ON YESTERDAY ($5.80). IT IS WITHOUT A DOUBT THAT MANY OF THE DEPARTED COMEX LONGS ARE WAITING TO RECEIVE A PRIVATE EFP CONTRACT FOR EITHER FEBRUARY OR APRIL AND THESE GUYS ARE STILL NEGOTIATING THEIR DEAL. WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 8445 AS THESE HAVE ALREADY BEEN NEGOTIATED.   THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX AND YET WE ALSO OBSERVED A HUGE DELIVERY MONTH FOR THE MONTH OF DECEMBER. I GUESS IT EXPLAINS THE HUGE ISSUANCE OF EFP’S…THERE IS HARDLY ANY GOLD PRESENT AT THE GOLD COMEX FOR DELIVERY PURPOSES. IF YOU TAKE INTO ACCOUNT THE 8445 EFPCONTRACTS ISSUED, WE HAD A NET LOSS IN OPEN INTEREST OF 16,372 contracts ON THE TWO EXCHANGES:

8445 CONTRACTS MOVE TO LONDON AND  24,817 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the LOSS in total oi equates to 77.19 TONNES). ON MONDAY WE SHOULD SEE A HUGE INCREASE IN EFP’S DUE TO THE HUMONGOUS LONGS THAT HAVE DEPARTED THE COMEX AND THEY AWAIT PATIENTLY FOR THE FIAT BONUS PLUS A LONDON BASED FORWARD CONTRACT.

we had: 1 notice(s) filed upon for 100 oz of gold.

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

GLD

With gold down $11.00, we had no changes in gold inventory at the GLD/

Inventory rests tonight: 849.32 tonnes.

SLV/

A SMALL CHANGES IN SILVER INVENTORY AT THE SLV/ WITH SILVER UP TODAY AND YESTERDAY, THEY COULD ONLY MUSTER A GAIN OF 848,00 OZ AT THE SLV /

INVENTORY RESTS AT 313.896 MILLION OZ/

Let us head over to the comex:

The total gold comex open interest  FELL BY A HUGE 24,817 CONTRACTS DOWN to an OI level of 573,135 DESPITE THE GOOD SIZED RISE IN THE PRICE OF GOLD ($5.80 GAIN WITH RESPECT TO YESTERDAY’S TRADING).   WE HAD CONSIDERABLE COMEX GOLD LIQUIDATION. HOWEVER THE CME REPORTS THAT  THE BANKERS ISSUED ANOTHER STRONG COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS. WE HAD A GOOD SIZED 7766 EFP’S ISSUED FOR FEBRUARY  AND 679 EFP’s  FOR APRIL:  TOTAL  8445 CONTRACTS. THE OBLIGATION STILL RESTS WITH THE BANKERS ON THESE TRANSFERS. ALSO REMEMBER THAT THERE IS NO DOUBT A HUGE DELAY IN THE ISSUANCE OF EFP’S AND IT PROBABLY TAKES AT LEAST  48 HRS AFTER LONGS GIVE UP THEIR COMEX CONTRACTS FOR THEM TO RECEIVE THEIR EFP’S AS THEY ARE NEGOTIATING THIS CONTRACT WITH THE BANKS FOR A FIAT BONUS PLUS THEIR TRANSFER TO A LONDON FORWARD… THE COMEX IS NOW AN ABSOLUTE FRAUD!!

ON A NET BASIS IN OPEN INTEREST WE LOST TODAY: 16,372 OI CONTRACTS IN THAT 8445 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST 24,817 COMEX CONTRACTS. NET LOSS ON THE TWO EXCHANGES: 16,272 contracts OR 1,627,200   OZ OR 50.60 TONNES

Result: A  STRONG  DECREASE IN COMEX OPEN INTEREST DESPITE THE HUGE RISE IN YESTERDAY’S GOLD TRADING ($5.80.) WE HAD CONSIDERABLE COMEX GOLD LIQUIDATION.  TOTAL OPEN INTEREST LOSS ON THE TWO EXCHANGES: 16,3712 OI CONTRACTS..

We have now entered the active contract month of JANUARY. The open interest for the front month of JANUARY saw it’s open interest FALL by 2 contracts FALLING TO 2.  We had 3 notices served upon yesterday so we GAINED 1  contract or an additional 100 oz of gold will   stand AT THE COMEX in this non active month of January as these guys joined others in obtaining a London based forward contract.

FEBRUARY saw a LOSS of 52,168 contacts DOWN to 105,365.  March saw a GAIN of 164 contracts UP to 1818.  April saw a GAIN of 24,732 contracts UP to 329,502.

We had 1 notice(s) filed upon today for 100 oz

PRELIMINARY VOLUME TODAY ESTIMATED;  not available

FINAL NUMBERS CONFIRMED FOR YESTERDAY:  698,050

comex gold volumes are RISING AGAIN

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And now for the wild silver comex results.

Total silver OI FELL  BY A SMALL 1456  CONTRACTS FROM 205,874 DOWN TO 204,418 DESPITE YESTERDAY’S GOOD SIZED 13 CENT GAIN.  WE WERE ALSO INFORMED THAT WE HAD ANOTHER GIGANTIC SIZED 2698 EMERGENCY EFP’S FOR MARCH ISSUED BY OUR BANKERS (WITH 50 EFP CONTRACTS FOR FEBRUARY..AS SOMEBODY WAS IN URGENT NEED OF METAL AND NEEDED TO GO TO LONDON TO GET IT  AND ZERO FOR ALL OTHER MONTHS)  TO COMEX LONGS WHO RECEIVED A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON: THE TOTAL EFP’S ISSUED: 2748.   THE SILVER BOYS HAVE STARTED TO MIGRATE TO LONDON FROM THE START OF DELIVERY MONTH AND CONTINUING RIGHT THROUGH UNTIL FIRST DAY NOTICE JUST LIKE WE ARE WITNESSING TODAY. USUALLY WE NOTED THAT CONTRACTION IN OI OCCURRED ONLY DURING THE LAST WEEK OF AN UPCOMING ACTIVE DELIVERY MONTH AS WE HAVE JUST SEEN IN GOLD TODAY. THIS PROCESS HAS JUST BEGUN IN EARNEST IN SILVER STARTING IN SEPTEMBER 2017. HOWEVER, IN GOLD, WE HAVE BEEN WITNESSING THIS FOR THE PAST 2 YEARS. NICK LAIRD WAS KIND ENOUGH TO SUPPLY US THE TOTAL FOR 2017 GOLD EFP’S AND IT WAS 6600 TONNES FOR THE ENTIRE YEAR.  WE HAD  SOME LONG COMEX SILVER LIQUIDATION AND A HUGE SIZED RISE IN TOTAL SILVER OI. WE ARE ALSO WITNESSING A FAIR AMOUNT OF SILVER OUNCES STANDING FOR COMEX METAL IN THIS NON ACTIVE JANUARY AS WELL AS THAT CONTINUAL MIGRATION OF EFPS OVER TO LONDON. ON A PERCENTAGE BASIS THERE ARE MORE EFP’S ISSUED FOR GOLD THAN SILVER.  ON A NET BASIS WE GAINED 1292 SILVER OPEN INTEREST CONTRACTS:

1456 CONTRACT LOSS AT THE COMEX COMBINING WITH THE ADDITION OF 2748 OI CONTRACTSNAVIGATING OVER TO LONDON.

NET GAIN TWO EXCHANGES: 1292 CONTRACTS

We are now in the poor non active delivery month of January and here the OI LOST 0 contracts REMAINING AT 3.  We had 1 notice served upon yesterday, so we GAINED 1 contract or an additional 5,000 oz will stand for delivery  AT THE COMEX  AND QUEUE JUMPING CONTINUES

February saw a GAIN OF 54 OI contracts RISING TO 200. The March contract LOST 3646 contracts DOWN to 138,390.

We had 1 notice(s) filed for NIL 5,000 for the January 2018 contract for silver

INITIAL standings for JANUARY

Jan 26/2018.

we had 0 kilobar transaction/
We had 0 inventory movement at the dealer accounts
total inventory movement into the dealer accounts:  nil oz
we had 0 withdrawals into the customer account:
total withdrawal: NIL  oz
we had 0 customer deposit
total deposits: nil oz
we had 1 adjustments
 i) out of DELAWARE, 2,339.096 oz was removed from the CUSTOMER and this landed into the DEALER account of the HSBC
total registered or dealer gold:  566,798.627 oz or 17.629 tonnes
total registered and eligible (customer) gold;   9,313,221.043 oz 289.68 tones

For JANUARY:
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 1 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 JANUARY. contract month, we take the total number of notices filed so far for the month (696) x 100 oz or 69600 oz, to which we add the difference between the open interest for the front month of JAN. (4 contracts) minus the number of notices served upon today (1 x 100 oz per contract) equals 69,900 oz, the number of ounces standing in this active month of JANUARY

Thus the INITIAL standings for gold for the JANUARY contract month:

No of notices served (696 x 100 oz or ounces + {(4)OI for the front month minus the number of notices served upon today (1 x 100 oz which equals 69,900 oz standing in this active delivery month of JANUARY (2.1710 tonnes). THERE IS 17.629 TONNES OF REGISTERED GOLD AVAILABLE FOR DELIVERY SO FAR.

WE GAINED 1 CONTRACTS OR AN ADDITIONAL 100 OZ WILL STAND IN THIS NON ACTIVE DELIVERY MONTH OF JANUARY

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ON FIRST DAY NOTICE FOR JANUARY 2017, THE INITIAL GOLD STANDING: 3.904 TONNES STANDING

BY THE END OF THE MONTH: FINAL: 3.555 TONNES STOOD FOR COMEX DELIVERY AS THE REMAINDER HAD TRANSFERRED OVER TO LONDON FORWARDS.

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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 15 MONTHS 65 NET TONNES HAS LEFT THE COMEX.

end

And now for silver

AND NOW THE DECEMBER DELIVERY MONTH

DECEMBER FINAL standings

we had no inventory movement at the dealer side of things

total inventory movement dealer: nil oz

we had 1 inventory deposits into the customer account

i) JPMORGAN  Deposit:  599,110.110  oz

ii) into Scotia: 587,131.400

total inventory deposits: 1,186,241.510 oz

we had 3 withdrawals from the customer account;

i) out of Brinks: 302,956.900 oz

ii) Out of CNT: 1193,538.740  oz

iii) out of HSBC: 841,551,600 oz

total withdrawals;  2,338,047.240 oz

we had 0 adjustment

total dealer silver:  45.461 million

total dealer + customer silver:  245.996 million oz

The total number of notices filed today for the JANUARY. contract month is represented by 1 contract(s) FOR 5,000 oz. To calculate the number of silver ounces that will stand for delivery in JANUARY., we take the total number of notices filed for the month so far at 728 x 5,000 oz = 3,640,000 oz to which we add the difference between the open interest for the front month of JAN. (3) and the number of notices served upon today (1 x 5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the JANUARY contract month: 728(notices served so far)x 5000 oz + OI for front month of JANUARY(3) -number of notices served upon today (1)x 5000 oz equals 3,650,000 oz of silver standing for the JANUARY contract month. This is VERY GOOD for this NONACTIVE delivery month of JANUARY.  WE GAINED 1 CONTRACT OR AN ADDITIONAL 5,000  OZ WILL  STAND FOR DELIVERY IN THIS NON ACTIVE DELIVERY MONTH OF JANUARY AS QUEUE JUMPING CONTINUES AS WE PROCEED TO MONTH’S END.

ON FIRST DAY NOTICE FOR THE JANUARY 2017 CONTRACT WE HAD 3.790 MILLION OZ STAND.

THE FINAL STANDING: 3,730 MILLION OZ

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I almost fell from my chair:  we received volumes at the comex and they were on time

ESTIMATED VOLUME FOR TODAY: not available yet

CONFIRMED VOLUME FOR YESTERDAY:  140,940 CONTRACTS

YESTERDAY’S CONFIRMED VOLUME OF 140,940 CONTRACTS EQUATES TO  520 MILLION OZ OR 74.53% OF ANNUAL GLOBAL PRODUCTION OF SILVER

COMMODITY LAW SUGGESTS THAT OPEN INTEREST SHOULD NOT BE MORE THAN 3% OF ANNUAL GLOBAL PRODUCTION. THE CROOKS ARE SUPPLYING MASSIVE PAPER TRYING TO KEEP SILVER IN CHECK.

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 

1. Sprott silver fund (PSLV): NAV FALLS TO -2.25% (Jan 24/2018)
2. Sprott gold fund (PHYS): premium to NAV FALLS TO -0.45% to NAV (Jan 24/2018 )
Note: Sprott silver trust back into NEGATIVE territory at -2.25%-/Sprott physical gold trust is back into NEGATIVE/ territory at -0.36%/Central fund of Canada’s is still in jail but being rescued by Sprott.
Sprott WINS hostile 3.1 billion bid to take over Central Fund of Canada

(courtesy Sprott/GATA)

3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA): NAV FALLS TO 3.42%: NAV 14.08/TRADING 13.60//DISCOUNT 3.42%

END

And now the Gold inventory at the GLD/

jan 26/2018/no changes in gold inventory at the GLD/inventory rests at 849.32 tonnes

jan 25/no changes in gold inventory at the GLD/inventory rests at 849.32 tonnes

Jan 24/A HUGE DEPOSIT OF 2.65 TONNES OF GOLD INTO GLD/INVENTORY RESTS AT 849.32 TONNES

Jan 23/NO CHANGE IN GOLD INVENTORY DESPITE GOLD’S RISE/INVENTORY RESTS AT 846.67 TONNES

Jan 22/a huge deposit of 5.71 tonnes of gold despite a drop in price/inventory rests at 846.67 tonnes. In 3 trading days, the GLD has added 17.71 tonnes/the bankers are now in trouble!!

Jan 19/no change in gold inventory at the GLD/Inventory rests at 840.76 tonnes

Jan 18/SHOCKINGLY A HUGE DEPOSIT OF 11.80 TONNES WITH GOLD DOWN ALMOST $12.00/INVENTORY RESTS AT 840.76

Jan 17/no changes in gold inventory at the GLD/inventory rests at 828.96 tonnes

Jan 16/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.96 TONNES

Jan 12/no changes in inventory at the GLD despite the rise in gold price/inventory rests at 828.96 tonnes

Jan 11/ANOTHER IDENTICAL WITHDRAWAL OF 2.95 TONNES FROM THE GLD INVENTORY/INVENTORY RESTS AT 828.96 TONNES

Jan 10/with gold up today, a strange withdrawal of 2.95 tonnes/inventory rests at 831.91 tonnes

Jan 9/no changes in gold inventory at the GLD/Inventory rests at 834.88 tonnes

Jan 8/with gold falling by a tiny $1.40 and this being after 12 consecutive gains, today they announce another 1.44 tonnes of gold withdrawal from the GLD/

Jan 5/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 836.32 TONNES

Jan 4/2018/no change in gold inventory at the GLD/Inventory rests at 836.32 tonnes

Jan 3/a huge withdrawal of 1.18 tonnes of gold from the GLD/Inventory rests at 836.32 tonnes

Jan 2/2018/no changes in gold inventory at the GLD/inventory rests at 837.50 tonnes

Dec 29/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 837.50 TONNES

Dec 28/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 837.50 TONNES

Dec 27/NO CHANGES IN GOLD INVENTORY AT THE GLD/ INVENTORY RESTS AT 837.50 TONNES

Dec 26/no change in gold inventory at the GLD

Dec 22/ A DEPOSIT OF 1.48 TONNES OF GOLD INTO GLD INVENTORY/INVENTORY RESTS AT 837.50 TONNES

Dec 21′ NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 836.02 TONNES

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Jan 26/2018/ Inventory rests tonight at 849.32 tonnes

*IN LAST 316 TRADING DAYS: 91.83 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 250 TRADING DAYS: A NET 65.48 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.

end

Now the SLV Inventory

Jan 26.2018/inventory rests at 313,896 oz

Jan 25/with silver up today and yesterday, the SLV could only muster a gain of 848,000 oz

Inventory rests at 313.896 oz

jan 24/NO CHANGE IN SILVER INVENTORY DESPITE THE GOOD ADVANCE IN PRICE/INVENTORY RESTS AT 313.048 MILLION OZ/

Jan 23/ANOTHER HUGE WITHDRAWAL OF 1.131 MILLION OZ OF SILVER DESPITE THE TINY LOSS/THE CROOKS ARE USING THE INVENTORY TO RAID ON SILVER.

JAN 22.2018/with silver down by 5 cents/ the crooks at the SLV liquidate 1.321 million oz of silver/inventory rests at 314.179 million oz/

Jan 19/ no changes in silver inventory at the SLV/inventory rests at 315.500 million oz/

jan 18/A WITHDRAWAL OF 848,000 OZ OF SILVER FROM THE SLV/INVENTORY RESTS AT 315.500 MILLION OZ/

Jan 17/no changes in silver inventory at the SLV/inventory rests at 316.348 million oz/

Jan 16/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.348  MILLION OZ

Jan 12/no changes in silver inventory at the SLV/inventory rests at 316.348 million oz/

Jan 11/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.348 MILLION OZ/

Jan 10/with silver up again, we had a huge withdrawal of 1.227 million oz from the SLV/inventory rests at 316.348 million oz

Jan 9/a withdrawal of 848,000 oz from the SLV/Inventory rests at 317.575 million oz/

jan 8/no change in silver inventory at the SLV/Inventory rests at 318.423 million oz/

Jan 5/DESPITE NO CHANGE IN SILVER PRICING, WE HAD A HUGE WITHDRAWAL OF 2.026 MILLION OZ/INVENTORY RESTS AT 318.423 MILLION OZ.

Jan 4.2018/a slight withdrawal of 180,000 oz and this would be to pay for fees/inventory rests at 320.449 million oz/

Jan 3/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.629 MILLION OZ.

Jan 2/WITH SILVER UP DRAMATICALLY THESE PAST 4 TRADING DAYS, THE FOLLOWING MAKES NO SENSE: WE HAD A WITHDRAWAL OF 2.83 MILLION OZ FROM THE SLV

INVENTORY RESTS AT 320.629 MILLION OZ/

Dec 29/no changes in silver inventory at the SLV/inventory rests at 323.459 million oz/

Dec 28/DESPITE THE RISE IN SILVER AGAIN BY 13 CENTS, WE LOST ANOTHER 1,251,000 OZ OF SILVER FROM THE SILVER.

Dec 27/WITH SILVER UP AGAIN BY 17 CENTS, WE LOST ANOTHER 802,000 OZ OF SILVER INVENTORY/WHAT CROOKS/INVENTORY RESTS AT 324.780 MILLION OZ/

Dec 26/no change in silver inventory at the SLV./Inventory rests at 325.582

Dec 21/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 326.227 MILLION OZ/

.

Jan 25/2017:

Inventory 313.896 million oz

end

6 Month MM GOFO
Indicative gold forward offer rate for a 6 month duration

+ 1.78%
12 Month MM GOFO
+ 2.16%

end

At 3:30 pm we receive a totally useless COT report which gives us position levels of our major players at the comex.  Of course, the liability of the bankers is much greater than indicated due to the huge number of EFP’s issued:

Our large speculators

Those large specs that have been long in gold added another 3949 contracts to their long side

those large specs that have been short in gold added a tiny 976 contracts to their short side

Our commercials

those commercials that have been long in gold added (??) a huge 3256 contracts to their long side

those commercials that have been short in gold added another 5301 contracts to their short side and this does not include all the EFP transfers to London.  The obligation still rests with the bankers on these EFP contracts but the obligation now rests in London

Our small specs

those small specs that have been long in gold added  1530 contracts to their long side

those small specs that have been short in gold added another 2458 contracts to their short side and they have been blown up by now.

and now for your silver COT

if the following is going on at the comex, it is also going on in London

it sure looks like we are getting silver capitulation by our bankers

Our large speculators

those large specs that have been long in silver pitched a surprising 3673 contracts

those large specs that have been short in silver added 4458 contacts to their short side >>??

Our commercials

those commercials that have been long in silver added a huge  3730 contracts to their long side

those commercials that have been short in silver covered a net 4916 contracts and most of these were transferred to London

Our small specs

those small specs that have been long in silver added a small 503 contracts to their long side

those small specs that have been short in silver added 1018 contracts to their short side.

end