Looks Like JP Morgan Is Controlling the Silver Market | Harvey Organ

JP Morgan Dimon MastersIt sure looks like JPMorgan is controlling the silver comex market…

PRESIDENT TRUMP TAKES OFFICE/STATES HE WILL BRING ABOUT 25 MILLION NEW JOBS, 4% GROWTH IN GDP AND LOWER THE TAXES FOR ALL AMERICANS/KEY SOUND BITE: “TRANSFER POWER BACK TO THE PEOPLE”
trump-silver-rounds

 

Gold at (1:30 am est) $1204.30 UP $3.40

silver  at $17.00:  UP 3 CENTS

Access market prices:

Gold: $1209.30

Silver: $17.10

 

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:

 
FRIDAY gold fix Shanghai
 

Shanghai FIRST morning fix Jan 20/17 (10:15 pm est last night): $  1219.24

NY ACCESS PRICE: $1207.70 (AT THE EXACT SAME TIME)/premium $11.54

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

Shanghai SECOND afternoon fix:  2: 15 am est (second fix/early  morning):$   1215.74

NY ACCESS PRICE: $1201.85 (AT THE EXACT SAME TIME/2:15 am)

  THE SPREAD 2ND FIX TODAY!!:  $7.61

China rejects NY pricing of gold  as a fraud/arbitrage will now commence fully

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

 

London Fix: Jan 20/2017: 5:30 am est:  $1199.10   (NY: same time:  $1199.55   (5:30AM)

 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

 
 
 
 
 
 

London Second fix Jan 20.2017: 10 am est:  $1200.55 (NY same time: $1201.30  (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.

end

For comex gold: 

NOTICES FILINGS FOR JANUARY CONTRACT MONTH:  10 NOTICE(S) FOR 1000 OZ.  TOTAL NOTICES SO FAR: 1185 FOR 118,500 OZ    (3.6858 TONNES)

 
 
 

For silver:

 NOTICES FOR JANUARY CONTRACT MONTH FOR SILVER: 2 NOTICE(s) FOR 10,000  OZ. TOTAL NUMBER OF NOTICES FILED SO FAR; 559 FOR 2,795,000 OZ

 
 

Let us have a look at the data for today

.

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In silver, the total open interest FELL by 1625  contracts DOWN to 172,592 with respect to YESTERDAY’S TRADING.    In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. .862 BILLION TO BE EXACT or 123% of annual global silver production (ex Russia & ex China).

FOR THE JANUARY FRONT MONTH IN SILVER:  2 NOTICES FILED FOR 10,000  OZ.

In gold, the total comex gold ROSE BY 9,603 contracts DESPITE THE FALL IN  THE PRICE GOLD ($10.40 with YESTERDAY’S trading ).The total gold OI stands at 475,227 contracts.

we had 10 notice(s) filed upon for 1000 oz of gold.

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

GLD:

We had no  changes in tonnes of gold at the GLD

Inventory rests tonight: 807.96 tonnes

.

SLV

we had no changes in silver into the SLV:

THE SLV Inventory rests at: 338.356 million oz

.

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

1. Today, we had the open interest in silver FALL by 1625 contracts DOWN to 172,592 AS SILVER FELL 26 CENTS with YESTERDAY’S trading. The gold open interest ROSE by 9,603 contracts UP to 475,227 DESPITE THE FACT THAT THE  PRICE OF GOLD FELL BY $10.40 WITH YESTERDAY’S TRADING

(report Harvey).

2.a) The Shanghai and London gold fix report

(Harvey)

 

2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY:  Bloomberg

2c) COT report

Harvey

 

3. ASIAN AFFAIRS

i)Late  THURSDAY night/FRIDAY morning: Shanghai closed UP 21.84 POINTS OR 0.71%/ /Hang Sang closed DOWN 164.05 OR 0.71%. The Nikkei closed UP 65.66 POINTS OR 0.34% /Australia’s all ordinaires  CLOSED DOWN 0.62%/Chinese yuan (ONSHORE) closed DOWN at 6.8785/Oil ROSE to 51.89 dollars per barrel for WTI and 55.00 for Brent. Stocks in Europe ALL MIXED. Offshore yuan trades  6.8539 yuan to the dollar vs 6.8785  for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE COMPLETELY NARROWS AS POBC ATTEMPTS TO STOP DOLLARS FROM LEAVING CHINA’S SHORES. HOWEVER BOTH CHINESE YUANS FALL WITH THE HIGHER DOLLAR 

REPORT ON JAPAN  SOUTH KOREA NORTH KOREA AND CHINA

3a)THAILAND/SOUTH KOREA

b) RPORT ON JAPAN

 none today
 

c) REPORT ON CHINA

i)A very important commentary.  Even though we know that the data is fudged, China has now released data to suggest that their growth is the slowest in 26 years at 6.8%

( zerohedge)

ii)This is a surprise move:  the POBC cuts reserve ratios and then offers temporary funding and support for its largest banks.  They wish to avoid a cash crunch!!

(courtesy zerohedge)

4 EUROPEAN AFFAIRS

As you can see, global growth is falling out of bed:  today UK retail sales plunge 2% and this caused the Pound to contract but it later recovered a bit:

( zero hedge)

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

none today

6.GLOBAL ISSUES

i)A  good commentary on what 5 territorial disputes may influence gold and/or problems for the world authorities: the two biggest of course is the South Chinese Seas and the Israel/Palestine conflict.

 

( Barton Edgerton/GlobalRiskInsights.com)

ii)It seems that 22 Mexican pesos per dollar is the line in the sand.  Former Mexican commerce secretary Gutierrez comments that Mexico must show a tough stance against trump.  With that and intervention, the peso surged

( zero hedge)

7. OIL ISSUES

i)Rig count rises which will mean increase production.  Oil after rising in the early part of the day, falters again

( zero hedge)

ii)A good look at the Saudi economy and how it will fare with oil below 60 dollars per barrel.  The privatization of Aramco will surely provide enough capital to diversify this nation

( Gregory Brew/OilPrice.com)

 

8. EMERGING MARKETS

none today

9.   PHYSICAL MARKETS

i)As we outlined yesterday, the POBC are investigating the Bitcoin platform which caused the price of Bitcoin to fall.  This caused a flood of investors to enter physical gold and GOld ETF’s denominated in physical metal:

( zero hedge)

ii)Gold trading today:  higher with the Trump rally faltering: money flowing into gold and bonds!

( zero hedge)

iii)Bill Murphy interviewed by Daily coin

( Bill Murphy/GATA)

iv)This is a good one:  John Embry states that we should watch out when the world finally realizes all of the fake news, manipulated (and false data), all hell will break loose.  He outlines the most important commentaries of this past week, that which I have also highlighted to you.

( Kingworldnews/John Embry)

v)Alasdair Macleod..why we should own and hold onto gold

( Alasdair Macleod)

vi)The new Sec Treasurer to be Mnuchin states that he believes in the long term the USA dollar is important but he backs boss Trump that the dollar should weaken and help USA exports

( GATA/Bloomberg)

10.USA STORIES

i)Trump is now the 45th President of the USA.  His speech sends the Dow down as well as the Peso.  The key sound bite:  “we’re transferring power from Washington to “the people”

( zero hedge)

ib)Statement from President Trump: He wants to crate 25 million jobs, grow the economy by 4% and lower taxes for all Americans

( President Trump/zero hedge)

ii)Zero hedge comments on the Steve Mnuchin confirmation hearings. He in essence is echoing his boss where he states that the dollar is too high but in the long run he supports a “strong dollar”

( zero hedge)

iii)This should be fun:  Trump team is preparing for dramatic cuts to spending and yet they need infrastructure spending.  They will try and cut programs that nobody ever heard of:

( zero hedge)

Let us head over to the comex:

 

 

The total gold comex open interest ROSE BY 9,603 CONTRACTS UP to an OI level of 475,227 AS THE  PRICE OF GOLD FELL $10.40 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 35  contract(s) DOWN to 72.  We had 41 notices filed YESTERDAY so we GAINED 6 contract(s) or AN ADDITIONAL 600 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 8914 contracts DOWN to 193,356.(feb  2016: 201,000 contracts). March had a LOSS of 80 contracts as it’s OI is now 925. We are on a par with respect to OI when we compare data for open interest re the Feb 2016 contract.

We had 10 notice(s) filed upon today for 1000 oz

 
 
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And now for the wild silver comex results.  Total silver OI FELL by 1625 contracts FROM  174,217 DOWN TO 172,592 AS the price of silver FELL 26 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 FELL by 121 contract(s) FALLING TO  109. We had 122 notice(s) filed on yesterday so we  gained 1 silver contracts or an additional 5,000 oz will stand  in this delivery month of January. The next non active month of February saw the OI rise by 7 contract(s) RISING TO 261.

The next big active delivery month is March and here the OI FELL by 2595 contracts DOWN to 132,041 contracts.

 

We had 2 notice(s) filed for 10,000 oz for the January contract.

 
 

VOLUMES: for the gold comex

Today the estimated volume was 228,499  contracts which is good.

Yesterday’s confirmed volume was 283,375 contracts  which is very  good

volumes on gold are getting higher!

Initial standings for january
 Jan 20/2017.
 
Gold Ounces
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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
 
10 notice(s)
1000 oz
 
 
No of oz to be served (notices)
62 contracts
6200 oz
 
Total monthly oz gold served (contracts) so far this month
 
1185 notices
118,500 oz
3.68584 tonnes
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 we HAD 0 kilobar transaction(s)/
 
Today we had 0 deposit(s) into the dealer:
 
 
 
 
 
total dealer deposits:  nil oz
 
We had nil dealer withdrawals:
 
 
total dealer withdrawals:  nil oz
 
 
we had 0  customer deposit(s):
 
 
 
 
 
 
 
 
 
total customer deposits; nil oz
 
We had 0 customer withdrawal(s)
 
 
 
 
 
 
 
total customer withdrawal: nil oz
 
We had 0  adjustment(s)
 
 
 
 
 
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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 10 contract(s)  of which 0 notices were stopped (received) by jPMorgan dealer and 0 notice(s) was (were) stopped/ Received) by jPMorgan 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 (1185) x 100 oz or 118,500 oz, to which we add the difference between the open interest for the front month of JANUARY (72 contracts) minus the number of notices served upon today (10) x 100 oz per contract equals 124,700 oz, the number of ounces standing in this non  active month of JANUARY.
 
Thus the INITIAL standings for gold for the JANUARY contract month:
No of notices served so far (1185) x 100 oz  or ounces + {OI for the front month (72) minus the number of  notices served upon today (10) x 100 oz which equals 124,700 oz standing in this non active delivery month of JANUARY  (3.8787 tonnes)
 
we gained 600 oz of gold standing for delivery.
 
 
 
 
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On first day notice for January 2016, we had .9642 tonnes of gold standing. At the conclusion of the month we had only .5349 tonnes standing so you can visualize the increasing demand for physical gold a t the comex.
 
 
 
 
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I have now gone over all of the final deliveries for this year and it is startling.
First of all:  in 2015 for the 13 months: 51 tonnes delivered upon for an average of 4.25 tonnes per month.
Here are the final deliveries for all of 2016 and the first month of January 2017
Jan 2016:  .5349 tonnes  (Jan is a non delivery month)
Feb 2015:  7.9876 tonnes (Feb is a delivery month/deliveries this month very low)
March 2015: 2.311 tonnes (March is a non delivery month)
April:  12.3917 tonnes (April is a delivery month/levels on the low side
And then something happens and from May forward deliveries boom!
May; 6.889 tonnes (May is a non delivery month)
June; 48.552 tonnes ( June is a very big delivery month and in the end deliveries were huge)
July: 21.452 tonnes (July is a non delivery month and generally a poor one/not this time!)
August: 44.358 tonnes (August is a good delivery month and it came to fruition)
Sept:  8.4167 tonnes (Sept is a non delivery month)
Oct; 30.407 tonnes complete.
Nov.    8.3950 tonnes.
DEC.   29.931 tonnes
JAN/     3.8787 tonnes
 
total for the 13 months;  226.295 tonnes
average 17.407 tonnes per month vs last yr  51.534 tonnes total for 13 months or 3.964 tonnes average per month.
 
 
Total dealer inventor 1,457,413.466 or 45.33 tonnes DEALER RAPIDLY LOSING GOLD
Total gold inventory (dealer and customer) = 8,980,970.936 or 279.93 tonnes 
 
 
 
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 279.93 tonnes for a  loss of 23  tonnes over that period.  Since August 8/2016 we have lost 74 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 5 1/2 MONTHS  74 NET TONNES HAS LEFT THE COMEX.
 
end
 
And now for silver
 
AND NOW THE DECEMBER DELIVERY MONTH
 
JANUARY INITIAL standings
 Jan 20. 2017
Silver Ounces
Withdrawals from Dealers Inventory  nil
Withdrawals from Customer Inventory
 
 
 
 
 
 839,313.699 0z
 
 
Brinks
Delaware
 
Scotia
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
nil oz
 
 
 
 
 
 
 
Deposits to the Customer Inventory 
 
 
 
750,960.974 oz
 
JPM
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
2 CONTRACT(S)
(10,000 OZ)
No of oz to be served (notices)
107 contracts
(545,000  oz)
Total monthly oz silver served (contracts) 559 contracts (2,795,000 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  19,182,617.0 oz
 END
 
 
 
today, we had 0 deposit(s) into the dealer account:
 
 
total dealer deposit: nil oz
 
we had nil dealer withdrawals:
total dealer withdrawals: nil oz
 
we had 3 customer withdrawal(s):
i) Out of Brinks:  777,225.819 oz
ii) out of Delaware: 1926.000 oz ????? exact weight??
 
iii) Out of Scotia: 60,161.800 oz
 
 
 
 
 
TOTAL CUSTOMER WITHDRAWALS: 839,313.699 oz
 
 
 we had 1 customer deposit(s):
 
i) Into JPMorgan:  750,960.974 oz**
** JPMorgan has deposited a huge amount of silver on each and every day starting in 2017:
 
 
 
 
 
 
total customer deposits;  750,960.974   oz
TED BUTLER IS CORRECT:  JPMORGAN IS MASSIVELY ACQUIRING SILVER THROUGH THE COMEX BY “STOPPING” ON CONTRACTS HELD
 
 
 we had 0  adjustment(s)
 
 
 
The total number of notices filed today for the JANUARY. contract month is represented by 2 contract(s) for 10,000 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  559 x 5,000 oz  = 2,795,000 oz to which we add the difference between the open interest for the front month of JAN (109) and the number of notices served upon today (2) x 5000 oz equals the number of ounces standing 
 
Thus the initial standings for silver for the JANUARY contract month:  559(notices served so far)x 5000 oz +(109) OI for front month of JAN. ) -number of notices served upon today (2)x 5000 oz  equals  3,330,000 oz  of silver standing for the JAN contract month. This is  STILL huge for a non active delivery month in silver. We  gained 1 contract(s) or an additional 5,000 oz will stand.
 
At first day notice for the January/2016 silver contract month we had 1,845,000 oz standing for delivery.  By he conclusion of the delivery month we had only 575,000 oz stand.
 
END
 
 
Volumes: for silver comex
 
Today the estimated volume was 60,902 which is excellent
YESTERDAY’S  confirmed volume was 84,049 contracts  which is huge.
 
 
 
Total dealer silver:  29.188 million (close to record low inventory  
Total number of dealer and customer silver:   180.131 million oz
 
 
 
The total open interest on silver is NOW moving away from  its all time high with the record of 224,540 being set AUGUST 3.2016.
 
 
 
 
 

end

And now the Gold inventory at the GLD

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

Jan 6/no changes in gold inventory at the GLD/inventory rests at 813.87 tonnes
Jan 5/no change in gold inventory at the GLD/inventory rests at 813.87 tonnes
Jan 4/no change in inventory/inventory rests at 813.87 tonnes
Jan 3.2017/a huge 9.49 tonnes of gold leaves the GLD/inventory rests at 813.87 tonnes
DEC 30/no changes in gold inventory at the GLD/Inventory rests at 823.36 tonnes
Dec 29/no changes in gold inventory at the GLD/Inventory rests at  823.36 tonnes
Dec 28/no change in gold tonnage at the GLD/inventory rests at 823.36 tonnes
Dec 27/a withdrawal of 1.18 tonnes from the GLD/Inventory rests at 823.36 tonnes
 
Dec 23/NO CHANGES IN GOLD INVENTORY AT THE GLD/RESTS TONIGHT AT 824.54 TONNES
 
Dec 22/no change in inventory at the GLD/Inventory rests at 824.54 tonnes
 
 
 
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Jan 20/2017/ Inventory rests tonight at 807.96 tonnes
 
*IN LAST 73 TRADING DAYS: 141.85 TONNES REMOVED FROM THE GLD
*LAST 20 TRADING DAYS: 16.58 TONNES HAVE LEFT
 

end

 
 
Now the SLV Inventory
Jan 20/no changes in silver inventory at the SLV/Inventory rests at 338.356 million oz
jan 19/no changes in silver inventory at the SLV/Inventory rests at 338.356 million oz
Jan 18/no changes in silver inventory/inventory rests at 338.356 million oz/
Jan 17/no change in silver inventory at the SLV/Inventory rests at 338.356 million oz/
Jan 13/2017/on changes in the SLV inventory/rests tonight at 338.356 million oz/
Jan 12.2017/ no changes in the SLV Inventory/ rests at 338.356 million oz
Jan 11/ A HUGE WITHDRAWAL F 2.843 MILLION OZ/INVENTORY RESTS AT 338.356 MILLION OZ/
JAN 10/no changes in inventory at the SLV/Inventory rests at 341.199 million oz
JAN 9/no changes in inventory at the SLV/Inventory rests at 341.199 million oz/
jan 6/no changes in inventory at the SLV/Inventory rests at 341.199 million oz
Jan 5/no changes in inventory at the SLV/Inventory rests at 341.199 million oz
Jan 4/a small withdrawal of 149,000 oz (probably to pay for fees/inventory rests at 341.199 million oz
Jan 3.2017/no changes in silver inventory at the SLV/Inventory rests at 341.348 million oz/
DEC 30/no changes in silver inventory at the SLV/inventory rests at 341.348 million oz/
Dec 29/no changes in silver inventory at the SLV/Inventory rests at 341.348 million oz
Dec 28/no changes in silver inventory at the SLV/Inventory at 341.348 million oz/
Dec 27/a big deposit of 1.138 million oz/Inventory rests at 341.348 million oz
Dec 23/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 340.210 MILLION OZ/
Dec 22/WE HAD A SMALL DEPOSIT OF 948,000 OZ INTO THE SLV/INVENTORY RESTS AT 340.210 MILLION OZ/
 
 
 
.
Jan 20.2017: Inventory 338.356  million oz
 
 end
 

 

 

NPV for Sprott and Central Fund of Canada

 
1. Central Fund of Canada: traded at Negative 6.0 percent to NAV usa funds and Negative 6.1% to NAV for Cdn funds!!!! 
Percentage of fund in gold 61.0%
Percentage of fund in silver:38.8%
cash .+0.2%( jan 20/2017) 
 
 
 
 
.
 
2. Sprott silver fund (PSLV): Premium RISES to +.57%!!!! NAV (Jan 20/2017) 
3. Sprott gold fund (PHYS): premium to NAV FALLS TO – 0.29% to NAV  ( Jan 20/2017)
Note: Sprott silver trust back  into POSITIVE territory at +0.57% /Sprott physical gold trust is back into NEGATIVE territory at -0.29%/Central fund of Canada’s is still in jail.
 
 
 

end

At 3:30 pm est we receive the COT report which gives position levels of our major players.  For several weeks, the commercials were goading the specs to go short.  That change last week and the commercials went net short and the specs net long.

Let us see what today brings:

First the gold COT

 
Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
218,144 111,103 104,399 101,399 224,510 423,942 440,012
Change from Prior Reporting Period
4,144 6,585 15,238 4,636 1,931 24,018 23,754
Traders
157 96 85 53 51 249 202
 
  Small Speculators      
  Long Short Open Interest    
  43,995 27,925 467,937    
  -82 182 23,936    
  non reportable positions Change from the previous reporting period  
COT Gold Report – Positions as of Tuesday, January 17, 2017

Our large specs:

Interesting:

those large specs that have been long in gold added 4144 contracts to their long side those large specs that have been short in gold added 6585 contracts to their short side.

Our commercials

those large specs that have been long in gold added 4636 contracts to their long side.

those large specs that have been short in gold added a tiny 1931 contracts to their short side.

Our small specs:

those small specs that have been long in gold pitched a tiny 82 contracts from their long side.

those small specs that have been short in gold added a tiny 182 contracts.

 

Conclusions: commercials go net long changing direction from last week.  They went net long by 2705 contracts.  The large specs went net short by 2441 contracts and that is very bullish for gold.

 

And now for our silver COT

Silver COT Report: Futures
Large Speculators Commercial
Long Short Spreading Long Short
90,838 21,356 12,618 45,028 126,764
2,408 -2,473 2,082 3,603 6,402
Traders
95 36 39 32 38
Small Speculators Open Interest Total
Long Short 172,056 Long Short
23,572 11,318 148,484 160,738
-1,077 1,005 7,016 8,093 6,011
non reportable positions Positions as of: 143 100
  Tuesday, January 17, 2017   © SilverSeek.com

Our large specs:

Those large specs that have been long in silver added 2408 contracts to their long side

those large specs that have been short in silver pitched 2473 contracts  from their short side.

Our commercials;

those commercials that have been long in silver added 3603 contracts to their long side.

those commercials that have been short in silver added 6402 contracts to their short side.

Our small specs;

Those small specs that have been long in silver pitched 1077 contracts from their long side.

those small specs that have been short in silver added 1005 contracts to their short side.

Conclusions:

large specs go net long by 4800 contracts; commercials go net short by 2799 contracts.

It sure looks like JPMorgan is controlling the silver comex market.