Harvey Organ: Yesterday’s Silver Trading Volume Alone Was 71.5% Of Annual Global Production
Huge demand for gold & silver continues as we press on in the middle of November. Here’s Harvey with an important update on all of the critical numbers…
by Harvey Organ of Harvey Organ Blog
NOV 14: GOLD UP $8.15 TO $1209.30/SILVER UP 10 CENTS TO $14.10/BREXIT NEGOTIATIONS BECOME UNDONE AND THIS MAY LEAD TO THERESA MAY’S DEPARTURE/MIKE PENSE ISSUES STERN WARNING TO CHINA TO NEGOTIATE OR ELSE…/GERMANY’S LATEST QUARTER CONTRACTS DUE TO PLUMMETING CAR SALES/DEMOCRATS ARE ALREADY DEMANDING A CHANGE IN NAFTA AND THAT CAUSED CDN DOLLAR AND MEXICAN PESO TO FALTER/CANADA IS GETTING KILLED IN THE OIL SECTOR AS WESTERN OIL (SHUT IN) SELLS FOR 15 DOLLARS/
GOLD: $1209.30 UP $8.15 (COMEX TO COMEX CLOSINGS)
Silver: $14.10 UP 10 CENTS (COMEX TO COMEX CLOSING)
Closing access prices:
Gold : 1211.40
silver: $14.14
For comex gold and silver:
NOV
NUMBER OF NOTICES FILED TODAY FOR NOV CONTRACT:1 NOTICE(S) FOR 100
Total number of notices filed so far for NOV: 205 for 20500 OZ (0.6376 TONNES)
FOR NOVEMBER
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3 NOTICE(S) FILED TODAY FOR
15,000 OZ/
Total number of notices filed so far this month: 1404 for 7.020,000 oz
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Bitcoin: OPENING MORNING TRADE $6382: down $74
Bitcoin: FINAL EVENING TRADE: $5804 down 669
end
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China is controlling the gold market
WE WILL NOT PROVIDE LONDON FIXES AS THEY ARE NOT ACCURATE AS TO WHAT IS GOING ON AT THE SAME TIME FRAME.
Let us have a look at the data for today
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In silver, the total OPEN INTEREST ROSE BY A HUMONGOUS 4397 CONTRACTS FROM 220,290 UP TO 224,346 DESPITE YESTERDAY’S 5 CENT FALL IN SILVER PRICING AT THE COMEX. TODAY WE ARRIVED CLOSER TO AUGUST’S RECORD SETTING OPEN INTEREST OF 244,196 CONTRACTS.
WE HAVE ALSO WITNESSED A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY(WELL OVER 30 MILLION OZ AT THE COMEX FOR JULY , 6 MILLION OZ FOR AUGUST AND NOW JUST LESS THAN 31 MILLION OZ STANDING IN SEPTEMBER. AS WELL WE ARE WITNESSING CONSIDERABLE LONGS PACKING THEIR BAGS AND MIGRATING OVER TO LONDON IN GREATER NUMBERS IN THE FORM OF EFP’S. WE WERE NOTIFIED THAT WE HAD A STRONG SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP:
0 EFP’S FOR NOV. 2178 EFP’S FOR DECEMBER AND 163 FOR MARCH AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE: OF 2341 CONTRACTS. WITH THE TRANSFER OF 2348 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 24-48 HRS IN THE ISSUING OF EFP’S. THE 2341 EFP CONTRACTS TRANSLATES INTO 11.71 MILLION OZ ACCOMPANYING:
1.THE 5 CENT FALL IN SILVER PRICE AT THE COMEX AND
2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR THE JUNE/2018 COMEX DELIVERY MONTH. (5.420 MILLION OZ); 30.370 MILLION OZ STANDING FOR DELIVERY IN JULY, FOR AUGUST: 6.065 MILLION OZ AND 39.505 MILLION OZ STANDING IN SEPT. 2,520,000 OZ STANDING IN OCTOBER. AND NOW SO FAR A HUGE 7,035,000 OZ STANDING FOR NOVEMBER
ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF NOV:
28,852 CONTRACTS (FOR 10 TRADING DAYS TOTAL 28,852 CONTRACTS) OR 132.555 MILLION OZ: (AVERAGE PER DAY: 2954 CONTRACTS OR 14.72 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF NOV: 142.760 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 20.28% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)* JUNE’S 345.43 MILLION OZ IS THE SECOND HIGHEST RECORDED ISSUANCE OF EFP’S AND IT FOLLOWED THE RECORD SET IN APRIL 2018 OF 385.75 MILLION OZ.
ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 2,570.34 MILLION OZ.
ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ
ACCUMULATION FOR FEB 2018: 244.95 MILLION OZ
ACCUMULATION FOR MARCH 2018: 236.67 MILLION OZ
ACCUMULATION FOR APRIL 2018: 385.75 MILLION OZ
ACCUMULATION FOR MAY 2018: 210.05 MILLION OZ
ACCUMULATION FOR JUNE 2018: 345.43 MILLION OZ
ACCUMULATION FOR JULY 2018: 172.84 MILLION OZ
ACCUMULATION FOR AUGUST 2018: 205.23 MILLION OZ.
ACCUMULATION FOR SEPTEMBER 2018: 167,05 MILLION OZ
ACCUMULATION FOR OCTOBER 2018: 224.875 MILLION OZ
RESULT: WE HAD A STRONG SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 4397 DESPITE THE 5 CENT DECLINE IN SILVER PRICING AT THE COMEX //YESTERDAY. THE CME NOTIFIED US THAT WE HAD A VERY STRONG SIZED EFP ISSUANCE OF 2341 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 (SEE COMEX DATA) .
TODAY WE GAINED A HUMONGOUS SIZED: 6738 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:
i.e 2341 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH INCREASE OF 4397 OI COMEX CONTRACTS. AND ALL OF THUS STRONG DEMAND HAPPENED WITH A 5 CENT FALL IN PRICE OF SILVER AND A CLOSING PRICE OF $14.00 WITH RESPECT TO YESTERDAY’S TRADING. YET WE HAD A GIGANTIC AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY IN THE BIG JULY DELIVERY MONTH OF SLIGHTLY OVER 30 MILLION OZ, IN AUGUST ANOTHER BIG 6.065 MILLION OZ IN A NON ACTIVE MONTH IN SEPTEMBER A FINAL MONSTROUS 39.05 MILLION OZ OF SILVER STANDING FOR DELIVERY, WITH HUGE DELIVERIES OF OVER 2 MILLION OZ IN OCTOBER (A NON DELIVERY MONTH) AND NOW 7.035 MILLION OZ IN NOVEMBER……. NOBODY IS PAYING ATTENTION TO THE HUGE NUMBER OF PHYSICAL OUNCES STANDING FOR SILVER THESE PAST SEVERAL MONTHS.
In ounces AT THE COMEX, the OI is still represented by JUST OVER 1 BILLION oz i.e. 1.059 BILLION OZ TO BE EXACT or 151% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT AUGUST MONTH/ THEY FILED AT THE COMEX: 3 NOTICE(S) FOR 15.000 OZ OF SILVER
IN SILVER,PRIOR TO TODAY, WE SET THE NEW COMEX RECORD OF OPEN INTEREST AT 243,411 CONTRACTS ON APRIL 9.2018. AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $16.51.
AND NOW WE RECORD FOR POSTERITY ANOTHER ALL TIME RECORD OPEN INTEREST AT THE COMEX OF 244,196 CONTRACTS ON AUGUST 22/2018 AND AGAIN WHEN THIS RECORD WAS SET, THE PRICE OF SILVER WAS $14.78 AND LOWER IN PRICE THAN PREVIOUS RECORDS.
ON THE DEMAND SIDE WE HAVE THE FOLLOWING:
- HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY (MARCH/2018: 27 MILLION OZ , APRIL/2018 : 2.485 MILLION OZ MAY: 36.285 MILLION OZ ; JUNE/2018 (5.420 MILLION OZ) , JULY 2018 FINAL AMOUNT STANDING: 30.370 MILLION OZ ) FOR AUGUST 6.065 MILLION OZ. , SEPT: AN INITIAL HUGE 39.505 MILLION OZ./ OCTOBER: 2,520,000 oz AND NOW NOV AT 7.035 MILLION OZ.
- HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018) AND NOW AUGUST 22/2018: 244,196 CONTRACTS, WITH A SILVER PRICE OF $14.78.
- HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017
- RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 385.75 MILLIONOZ/ AND THE SECOND HIGHEST RECORDED EFP ISSUANCE JUNE 2018 345.43 MILLION OZ
AND YET, WITH THE EXTREMELY HIGH EFP ISSUANCE, WE HAVE A CONTINUAL LOW PRICE OF SILVER DESPITE THE ABOVE HUGE DEMAND. TO ME THE ONLY ANSWER IS THAT WE HAVE SOVEREIGN (CHINA) WHO IS ENDEAVOURING TO GOBBLE UP ALL AVAILABLE PHYSICAL SILVER NO MATTER WHERE, EXACTLY WHAT J.P.MORGAN IS DOING. AND IT IS MY BELIEF THAT J.P.MORGAN IS HOLDING ITS SILVER FOR ITS BENEFICIAL OWNER..THE USA GOVERNMENT WHO IN TURN IS HOLDING THAT SILVER FOR CHINA.(FOR A SILVER LOAN REPAYMENT).
IN GOLD, THE OPEN INTEREST ROSE BY A HUMONGOUS SIZED 18,136 CONTRACTS UP TO 539,520 DESPITE THE LOSS IN THE COMEX GOLD PRICE/YESTERDAY’S TRADING (A DROP IN PRICE OF $1.75).THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 7804 CONTRACTS:
NOVEMBER HAD 0 EFP’S ISSUED AND, DECEMBER HAD AN ISSUANCE OF 7804 CONTACTS AND ALL OTHER MONTHS ZERO. The NEW COMEX OI for the gold complex rests at 539,520. 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. . 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 AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.
IN ESSENCE WE HAVE AN ATMOSPHERIC SIZED RISE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 25,940 CONTRACTS: 18,136 OI CONTRACTS INCREASED AT THE COMEX AND 7804 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN: 25,940 CONTRACTS OR 2,594,000 OZ = 80.68 TONNES. AND ALL OF THIS STRONG DEMAND OCCURRED WITH A FALL IN THE PRICE OF GOLD/ YESTERDAY TO THE TUNE OF $1.75???.
FRIDAY, WE HAD 5477 EFP’S ISSUED.
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF NOV : 77,760 CONTRACTS OR 7,776,000 OZ OR 241.86TONNES (10 TRADING DAYS AND THUS AVERAGING: 7776 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 10 TRADING DAY IN TONNES: 241.86 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES
THUS EFP TRANSFERS REPRESENTS 241.86/2550 x 100% TONNES = 9.48% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JULY ALONE.***
ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 6,451.80 TONNES *SURPASSED ANNUAL PROD’N
ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018: 653.22 TONNES (21 TRADING DAYS)
ACCUMULATION OF GOLD EFP’S FOR FEBRUARY 2018: 649.45 TONNES (20 TRADING DAYS)
ACCUMULATION OF GOLD EFP’S FOR MARCH 2018: 741.89 TONNES (22 TRADING DAYS)
ACCUMULATION OF GOLD EFP’S FOR APRIL 2018: 713.84 TONNES (21 TRADING DAYS)
ACCUMULATION OF GOLD EFP’S FOR MAY 2018: 693.80 TONNES ( 22 TRADING DAYS)
ACCUMULATION OF GOLD EFP FOR JUNE 2018 650.71 TONNES (21 TRADING DAYS)
ACCUMULATION OF GOLD EFP FOR JULY 2018 605.5 TONNES (21 TRADING DAYS)
ACCUMULATION OF GOLD EFP FOR AUG. 2018 488.54 TONNES (23 TRADING DAYS)
ACCUMULATION OF GOLD EFP FOR SEPT 2018 470.64 TONNES (19 TRADING DAYS)
ACCUMULATION OF GOLD EFP FOR OCT. 2018 543.92 TONNES (23 TRADING DAYS)
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
Result: A HUMONGOUS SIZED INCREASE IN OI AT THE COMEX OF 18,136 DESPITE THE LOSS IN PRICING ($1.75) THAT GOLD UNDERTOOK YESTERDAY) //.WE ALSO HAD A STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 7804 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX. 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 7804 EFP CONTRACTS ISSUED, WE HAD AN ATMOSPHERIC RISE OF 25,940 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:
7804 CONTRACTS MOVE TO LONDON AND 18,136 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 80.68 TONNES). ..AND ALL OF THIS DEMAND OCCURRED WITHA LOSS OF $1.75 IN YESTERDAY’S TRADING AT THE COMEX????.
we had: 1 notice(s) filed upon for 100 oz of gold at the comex.
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With respect to our two criminal funds, the GLD and the SLV:
GLD…
WITH GOLD UP $8.15 TODAY: /
NO CHANGES IN GOLD INVENTORY AT THE GLD/
/GLD INVENTORY 761.16 TONNES
Inventory rests tonight: 761.16 tonnes.
TO ALL INVESTORS THINKING OF BUYING GOLD THROUGH THE GLD ROUTE: YOU ARE MAKING A TERRIBLE MISTAKE AS THE CROOKS ARE USING WHATEVER GOLD COMES IN TO ATTACK BY SELLING THAT GOLD. IT SURE SEEMS TO ME THAT THE GOLD OBLIGATIONS AT THE GLD EXCEED THEIR INVENTORY
SLV/
WITH SILVER UP 10 CENTS TODAY
NO CHANGES IN SILVER INVENTORY AT THE SLV/
/INVENTORY RESTS AT 324.456 MILLION OZ.
Let us head over to the comex:
We are now in the non active delivery month of NOVEMBER and here we now have 6 notices standing for a gain of 3 contacts. We had 0 notices served upon yesterday so we gained 3 contracts or an additional 15,000 oz will stand for delivery as these longs refused to morph into London based forwards as well as not accepting a fiat bonus for their efforts.
After November, we have a December contract and here we LOST 1701 contracts DOWN to 139,310. January saw a GAIN of 196 contracts up to 1246 contracts. March, the next big delivery month after December saw a gain of 2805 contracts up to 63,704.