JPMORGAN CONTINUES TO HOARD PHYSICAL SILVER WHILE SELLING PAPER COMEX SILVER…
GOLD AND SILVER WHACKED BUT ONLY IN THE ACCESS “PAPER” MARKET/ BOTH GLD AND SLV ALSO HIT/JPMORGAN CONTINUES TO HOARD PHYSICAL SILVER WHILE SELLING PAPER COMEX SILVER/RHETORIC BETWEEN CHINA AND THE USA HEATS UP AGAIN RE: SOUTH CHINA SEAS/UK SUPREME COURT RULES THAT PARLIAMENT MUST VOTE ON A BREXIT: HOWEVER THIS WILL NOT DERAIL HER PLAN AS SHE HAS ENOUGH VOTES/USA DEMOCRATS INTRODUCE THEIR OWN 1 TRILLION USA INFRASTRUCTURE PLAN/TRUMP SIGNS BOTH KEYSTONE AND DAKOTA PIPELINE PROJECTS/FINAL DRAFT
Gold at (1:30 am est) $1210.30 DOWN $4.70
silver at $17.15: UNCHANGED
Access market prices:
THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON
The Shanghai fix is at 10:15 pm est last night and 2:15 am est early this morning
The fix for London is at 5:30 am est (first fix) and 10 am est (second fix)
Thus Shanghai’s second fix corresponds to 195 minutes before London’s first fix.
And now the fix recordings:
Shanghai FIRST morning fix Jan 24/17 (10:15 pm est last night): $ 1237.82
NY ACCESS PRICE: $1217.55 (AT THE EXACT SAME TIME)/premium $10.27
Shanghai SECOND afternoon fix: 2: 15 am est (second fix/early morning):$ 1223.21
NY ACCESS PRICE: $1215.10 (AT THE EXACT SAME TIME/2:15 am)
THE SPREAD 2ND FIX TODAY!!: $8.17
China rejects NY pricing of gold as a fraud/arbitrage will now commence fully
London FIRST Fix: Jan 24/2017: 5:30 am est: $1213.30 (NY: same time: $1213.25 (5:30AM)
London Second fix Jan 24.2017: 10 am est: $1216.80 (NY same time: $1217.15 (10 AM)
It seems that Shanghai pricing is higher than the other two , (NY and London). The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price. This should drain the comex.
Also why would mining companies hand in their gold to the comex and receive constantly lower prices. They would be open to lawsuits if they knowingly continue to supply the comex despite the fact that they could be receiving higher prices in Shanghai.
We are now entering options expiry week so expect the crooks to whack gold and silver down to allow illegal gains on options underwritten by the crooked banks. The comex expiry is Thursday, the 26th of January and the options for the OTC/LBMA is Tues Jan 31.
For comex gold:
NOTICES FILINGS FOR JANUARY CONTRACT MONTH: 8 NOTICE(S) FOR 800 OZ. TOTAL NOTICES SO FAR: 1203 FOR 120,300 OZ (3.7418 TONNES)
NOTICES FOR JANUARY CONTRACT MONTH FOR SILVER: 151 NOTICE(s) FOR 755,000 OZ. TOTAL NUMBER OF NOTICES FILED SO FAR; 710 FOR 3,550,000 OZ
Let us have a look at the data for today
In silver, the total open interest ROSE by 1973 contracts UP to 176,641 with respect to YESTERDAY’S TRADING. In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. .882 BILLION TO BE EXACT or 126% of annual global silver production (ex Russia & ex China).
FOR THE JANUARY FRONT MONTH IN SILVER: 151 NOTICES FILED FOR 755,000 OZ.
In gold, the total comex gold ROSE BY 4616 contracts WITH THE RISE IN THE PRICE GOLD ($10.70 with YESTERDAY’S trading ).The total gold OI stands at 483,408 contracts.
we had 8 notice(s) filed upon for 800 oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
We had a big changes in tonnes of gold at the GLD/this time a WITHDRAWAL of 5.04 tonnes
Inventory rests tonight: 804.11 tonnes
we had a rather small changes in silver into the SLV: a withdrawal of 948,000 oz
THE SLV Inventory rests at: 337.408 million oz
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver RISE by 1,973 contracts UP to 176,641 AS SILVER ROSE 15 CENTS with YESTERDAY’S trading. The gold open interest ROSE by 4,616 contracts UP to 483,408 WITH THE RISE IN THE PRICE OF GOLD OF $10.70 (YESTERDAY’S TRADING)
2.a) The Shanghai and London gold fix report
2 b) Gold/silver trading overnight Europe, Goldcore
and in NY: Bloomberg
3. ASIAN AFFAIRS
REPORT ON JAPAN SOUTH KOREA NORTH KOREA AND CHINA
b) RPORT ON JAPAN
c) REPORT ON CHINA
i)China states that it has irrefutable sovereignty over the disputed islands in the South China seas. They tell the USA to act and speak cautiously as Spicer in the press talk threatens China:
( zero hedge)
ii)Then China ups the ante by deploying their new nuclear ICBM which is capable of travelling 15,000 kilometers and delivering 10 to 12 nuclear warheads
4 EUROPEAN AFFAIRS
Theresa May received the news this morning that the UK Supreme Court rules that there must be a vote before a Brexit can begin. However the opposition will not go against the will of the people. Theresa May will trigger the clause 50 but allow the opposition to agree to a final separation
( zero hedge)
ii)And here is the timetable:
(courtesy zero hedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
Trump will certainly have his smoking gun if he wishes to tear up the Iran deal. Iran has been caught smuggling anti tank missile systems from Ukraine under false manifests.
( zero hedge)
Most of the pundits thought Turkey would raise its interest rate trying to keep the Lira higher. However Erdogan certainly has his finger on its central bank as again they kept their benchmark rate unchanged: down goes the Lira again
( zero hedge)
More havoc in Mexico has Mexican protesters have seized control of the USA order crossing in Tijuana, Drug cartel members are still high jacking much of Mexican gas and selling the gas to needy motorists
( zero hedge)
7. OIL ISSUES
Goldman Sachs correctly state that there will be an oil price shock with a border tax. Oil produced in the USA and exported will garner no tax. Thus USA produced oil will have a higher price than foreign oil. Foreign oil will probably not be used initially as its costs cannot be passed through.
This will create huge distortions in the oil market
8. EMERGING MARKETS
9. PHYSICAL MARKETS
i)Northern Dynasty states that it has Trump administration support to seek approvals to start mining in Alaska. It will need to seek a major to assist them. The most logical partner would be Agnico Eagle as they are quite good in mining in cold environments:
ii)Alasdair Macleod outlines how gold will now be used as money in the Muslim world especially as these countries are prone to devalue
( Alasdair Macleod)
iii)We brought this story to you yesterday. Bloomberg comments on Mnuchin;s lack of support for a strong dollar in the near term:
iv)Central banks are seeking higher risk equities in the low interest rate environment. This sets of high financial risks of collapse
( Wall Street Journal)
v)Due to sanctions, Russian to sell its huge gold deposit cheap and to Russian interests.
i)Rubio saves the day by voting for Tillerson in committee which should pave the way for the new Sec of State when the full senate votes:
( zero hedge)
ii)The next bombshell: we are witnessing huge numbers of leased car returns which is causing the used car pricing to fall which in turn causes less sells in the new car market:
iii)The Senate Democrats have introduced their own 1 trillion infrastructure plan and by doing so, they will offer Trump their support if he backs it. The trouble will be tea party Republicans who want fiscal responsibility:
( zero hedge)
iv)As expected, Trump signs executive orders advancing both Keystone and Dakota pipelines: Mr Buffett and environmentalists will not be happy campers
Let us head over to the comex:
The total gold comex open interest ROSE BY 4,616 CONTRACTS UP to an OI level of 483,408 AS THE PRICE OF GOLD ROSE $10.70 with YESTERDAY’S trading. We are now in the contract month of JANUARY and it is one of the poorest deliveries of the year.
With the front month of January we had a LOSS of 9 contract(s) DOWN to 61. We had 10 notices filed YESTERDAY so we GAINED 1 contract(s) or AN ADDITIONAL 100 oz WILL STAND for gold in this non active delivery month of January. For the next big active delivery month of February we had a LOSS of 9005 contracts DOWN to 179,787.(feb 2016: 145,830 contracts). March had a GAIN of 128 contracts as it’s OI is now 1047. We are now ahead with respect to OI when we compare data for open interest this year vs last year with the same amount of time to expire:
We had 8 notice(s) filed upon today for 800 oz
And now for the wild silver comex results. Total silver OI ROSE by 1,973 contracts FROM 174,668 UP TO 176,641 AS the price of silver ROSE 15 CENTS with YESTERDAY’S trading. We are moving further from the all time record high for silver open interest set on Wednesday August 3/2016: (224,540).
We are now in the non active delivery month of January and here the OI ROSE by 8 contract(s) RISING TO 180. We had 0 notice(s) filed on yesterday so we gained 8 silver contracts or an additional 40,000 oz will stand in this delivery month of January. The next non active month of February saw the OI RISE by 14 contract(s) RISING TO 228.
The next big active delivery month is March and here the OI rose by 757 contracts up to 133,925 contracts.
We had 151 notice(s) filed for 755,000 oz for the January contract.
VOLUMES: for the gold comex
Today the estimated volume was 257,345 contracts which is good.
Yesterday’s confirmed volume was 280,418 contracts which is very good
volumes on gold are getting higher!
|Withdrawals from Dealers Inventory in oz||nil|
|Withdrawals from Customer Inventory in oz||
|Deposits to the Dealer Inventory in oz||nil oz|
|Deposits to the Customer Inventory, in oz||
|No of oz served (contracts) today||
|No of oz to be served (notices)||
|Total monthly oz gold served (contracts) so far this month||
|Total accumulative withdrawals of gold from the Dealers inventory this month||3000.000 oz|
|Total accumulative withdrawal of gold from the Customer inventory this month||4,806,084.1 oz|
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 8 contract(s) of which 0 notices were stopped (received) by jPMorgan dealer and 0 notice(s) was (were) stopped/ Received) by jPMorgan customer account.
March 2015: 2.311 tonnes (March is a non delivery month)
|Withdrawals from Dealers Inventory||nil|
|Withdrawals from Customer Inventory||
|Deposits to the Dealer Inventory||
|Deposits to the Customer Inventory||
|No of oz served today (contracts)||
|No of oz to be served (notices)||
|Total monthly oz silver served (contracts)||710 contracts (3,550,000 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||19,833,5365 oz|
And now the Gold inventory at the GLD
jan 24/a huge withdrawal of 5.04 tonnes and probably this was used today in the whacking of gold/inventory rests at 804.11 tonnes
Jan 23/a big change/this time a deposit of 1.19 tonnes of gold into the GLD/inventory rests at 809.15 tonnes. The drainage of gold from the GLD to Shanghai has now stopped!
Jan 20/no changes in gold inventory a the GLD/Inventory rests at 807.96 tonnes
Jan 19/no changes in gold inventory at the GLD/Inventory rests at 807.96 tonnes
Jan 18/no changes in gold inventory at the GLD/Inventory rests at 807.96 tonnes
Jan 17/17/a deposit of 2.96 tonnes of gold/inventory at the GLD rests at 807.96 tonnes. I guess there is no more gold inventory to sent to C+Shanghai
Jan 13/17/there were no changes in gold inventory at the GLD/Inventory rests at 805.00 tonnes
Jan 12/2017/no change in gold inventory at the GLD/Inventory rests at 805.00 tonnes
Jan 11/no change in gold inventory at the GLD/Inventory rests at 805.00 tonnes
JAN 10/no changes in gold inventory at the GLD/Inventory rests at 805.00 tonnes
JAN 9/A WITHDRAWAL OF 8.87 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 805.00 TONNES