Silver Open Interest Surges DESPITE THE DRUBBING IN PRICE THAT SILVER TOOK THESE PAST FEW WEEKS:
NORTH KOREA LAUNCHES AN ICBM AND WITH THAT WAR DRUMS BEAT LOUDER/SAUDI ARABIA REJECTS THE QATARI NEW PROPOSAL AND THE BLOCKADE CONTINUES IN THE GULF/SOUTH AFRICA TO NATIONALIZE ITS CENTRAL BANK AND THEN THEY WISH TO CONFISCATE ALL PRIVATE LANDS IN WHITE HANDS/MOODY’S SET TO DOWNGRADE ILLINOIS TO JUNK DESPITE THEIR BUDGET AGREEMENT/CARMAGEDDON IN THE USA ADVANCES
GOLD: $1220.40 UP $2.40
Silver: $15.92 DOWN 18 cent(s)
Closing access prices:
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: $1236.89 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1228.10
PREMIUM FIRST FIX: $8.79
SECOND SHANGHAI GOLD FIX: $1244.88
NY GOLD PRICE AT THE EXACT SAME TIME: $1235.85
Premium of Shanghai 2nd fix/NY:$9.03
LONDON FIRST GOLD FIX: 5:30 am est $1235.20
NY PRICING AT THE EXACT SAME TIME: $1235.80
LONDON SECOND GOLD FIX 10 AM: $1220.30
NY PRICING AT THE EXACT SAME TIME. $1220.30
For comex gold:
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 1 NOTICE(S) FOR 100 OZ.
TOTAL NOTICES SO FAR: 39 FOR 3900 OZ (.1213 TONNES)
397 NOTICES FILED TODAY FOR
Total number of notices filed so far this month: 1601 for 8,005,000 oz
Let us have a look at the data for today
In silver, the total open interest SURPRISINGLY ROSE BY 2485 contract(s) UP to 203,541 DESPITE THE DRUBBING IN PRICE THAT SILVER TOOK WITH FRIDAY’S RAID (DOWN 47 CENT(S) ON TOP OF THE CONSTANT TORMENT THESE PAST FEW WEEKS.
In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.0175 BILLION TO BE EXACT or 145% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 397 NOTICE(S) FOR 1,985,000 OZ OF SILVER
In gold, the total comex gold SURPRISINGLY FELL BY ONLY 3,356 CONTRACTS DESPITE THE HUGE FALL IN THE PRICE OF GOLD ($20.80 with FRIDAY’S TRADING). The total gold OI stands at457,201 contracts.
we had 1 notice(s) filed upon for 100 oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
We had A HUGE change in tonnes of gold at the GLD: A MASSIVE WITHDRAWAL OF 5.62 TONNES WHICH MOST LIKELY WAS USED IN THE RAID THIS MORNING.
Inventory rests tonight: 840.67 tonnes
Today: STRANGE: NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 339.605 MILLION OZ
Please note the difference between gold and silver
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver SURPRISINGLY ROSE BY 2,485 contracts UP TO203,541 (AND now A LITTLE CLOSER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787), DESPITE THE MAMMOTH FALL IN PRICE FOR SILVER WITH FRIDAY’S TRADING (DOWN 47 CENTS).We LOST NOBODY AS EVERYBODY remains firm and determined.
2.a) The Shanghai and London gold fix report
2 b) Gold/silver trading overnight Europe, Goldcore
and in NY: Bloomberg
3. ASIAN AFFAIRS
i)Late TUESDAY night/WEDNESDAY morning: Shanghai closed UP 24.33 POINTS OR 0.76% / /Hang Sang CLOSED UP 132.96 POINTS OR 0.52% The Nikkei closed UP 49.28 POINTS OR 0.25%/Australia’s all ordinaires CLOSED DOWN 0.32%/Chinese yuan (ONSHORE) closed DOWN at 6.8020/Oil DOWN to 46.26 dollars per barrel for WTI and 48.86 for Brent. Stocks in Europe OPENED MOSTLY IN THE GREEN,, Offshore yuan trades 6.8026 yuan to the dollar vs 6.8020 for onshore yuan. NOW THE OFFSHORE IS A TOUCH WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN WEAKER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS ALSO WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE STRONGER DOLLAR. CHINA IS NOT VERY HAPPY TODAY
3a)THAILAND/SOUTH KOREA/NORTH KOREA
As I stated last time, I guess the Kim has nothing better to do with his time than to launch missiles. He launched a ICBM which traveled around 940 km and landed in Japan’s economic zone. Talks with Trump and China will be interesting this week.
ii)Donald Trump responds to North Korea with my line: “does Kim have anything better to do with his life”?
( zero hedge)
iii)Trump is now very angry: China’s trade with North Korea advances 40% in the first quarter instead of contracting
( zero hedge)
iv)then late in the afternoon: Ambassador Haley stated today that the uSA will use the military in North Korea if it must:
( zero hedge)
v)Do not like the looks of this: Russia and China rule out military action as well as not economically strangling North Korea
( zero hedge)
b) REPORT ON JAPAN
c) REPORT ON CHINA
This is interesting: the POBC hires blockchain engineers who will oversee the creation of a digital yuan. For what purpose?
4. EUROPEAN AFFAIRS
This is a huge problem: a massive migrant influx bombards Italian ports mainly from Libya. The Italians ask for help from other European nations but that will come to naught. If you look at the map, the shortest distance to a European port is Italy with Greece and Spain and France at a much greater distance
( zero hedge)
No wonder Italy is furious as Austria throw roadblocks to prevent migrants from entering Austria:
( zero hedge)
iii)Interesting: Italy is now openly discusses leaving the EU
( Mish Shedlock/Mishtalk)
iv)When will public official learn: you cannot undergo derivative contracts with corrupt bankers
And I bet you thought that subprime lending in the auto sector was only reserved for the USA. Guess again: the UK and Europe also have undisciplined auto lending:
( zero hedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
Qatar has delivered its response to Saudi Arabia. German Finance Minister Gabriel who has seen the response believes that Saudi Arabia will state that “it is not enough” and thus they may escalate the embargoes
( zero hedge)
ib)the blockade continues after the Arab states slam the “negative” response from Qatar to their ultimatum
( zero hedge)
(courtesy Whitney Webb/AntiMedia.org)
6 .GLOBAL ISSUES
7. OIL ISSUES
8. EMERGING MARKET
This is not good: South Africa is seeking to nationalize its Central Bank. Remember that this Central bank is private and has shareholders. The Rand plummeted on this news:
( zero hedge)
ii)My goodness: haven’t they learned? South Africa President now proposes land expropriation without compensation
Rhodesia all over again.
( zero hedge)
9. PHYSICAL MARKETS
ii)Hugo addresses Russians about the use of a Silver Rouble. He also highlights to them the manipulation of silver and gold by western authorities( Hugo Salinas Price/GATA)
iii)Citizens of India will now resort to more smuggling to offset the higher GST on gold and silver
iv)The boys are finally picking up potential fraud in the metals trading as they are uncovering fraudulent warehouse receipts. If they looked close enough they will find mammoth fraud in gold and silver as well
( Mark Burton/Bloomberg/GATA)
10. USA Stories
i)the debt ceiling is going to be a huge problem as the Republicans are split into 3:
1 tea party member (slash spending/entitlements
2 moderates( tax cuts for everybody including the wealthy/increase military spending
3. war mongers (John McCain ) /spend massive amounts of money of defense and act war like
there is no way that can be an agreement on the debt ceiling
iii)Trouble in Illinois, they raise Illinois tax rate by 32%/the Governor vetoes the raise and then the senate overrides it
( zero hedge)
iiib)Wow!! the scramble to pass the budget has been for naught:Moody’s has put the State of Illinois on review for a downgrade because of their failure to pass a budget on time and also because they do not have consensus on how to balance their budget. Once a downgrade is initiated all the muni funds must dump Illinois bonds and thus their cost skyrocket
( zero hedge)
iv)Carmageddon continues in the uSA. Despite huge incentives to get people to buy cars plus generous financing terms have failed to stem the auto bleeding
iv b) David Stockman continues on the same subject as above
v)Another hard data report showing factory orders tumbling. We are now getting a clear picture: hard data shows the USA economy in freefall. The soft data reports are fairytales.
( zero hedge)
vi)OH OH!! MORE HARD DATA. The traffic flow into North American stores were 8.1% lower leading up to the 4th of july holiday weekend. This is not a good harbinger for retail sales growth
(courtesy zero hedge)
Let us head over to the comex:
The total gold comex open interest SURPRISINGLY FELL BY ONLY 3,356 CONTRACTS down to an OI level of 457,201 DESPITE THE MAMMOTH FALL IN THE PRICE OF GOLD ($20.80 with FRIDAY’S trading). An open interest of around 390,000 to 400,000 is core and nothing will move these guys from their contracts.
We are now in the contract month of JULY and it is one of the POORER delivery months of the year. .
The non active July contract LOST 30 contracts to stand at 74 contracts. We had only 8 notices filed on Friday morning, so we lost 22 contracts for an additional 2200 oz that will not stand in this non active month of July. Thus 22 EFP notices were given which gives the long holder a fiat bonus plus a futures contract for delivery and most likely these are London based forwards. The contracts are private so we do not get to see all the particulars. The next big active month is August and here the OI LOST 4736 contracts DOWN to 288,401, as the bankers trying to keep this month down to manageable size. The next non active contract month is September and here they picked up another 105 contracts to stand at 185. The next active delivery month is October and here we gained 1629 contracts up to 17,532. October is the poorest of the active gold delivery months as most players move right to December.
We had 1 notice(s) filed upon today for 100 oz
We are now in the next big active month will be July and here the OI LOST 323 contracts DOWN to 1,201. We had 326 notices served on Friday so we only gained 3 notices or an additional 15,000 oz will stand at the comex, and 0 EFP contracts were issued which entitles them to receive a fiat bonus and a future delivery contract (which no doubt is a London based forward).
The month of August, a non active month lost 58 contracts to stand at 369. The next big active delivery month for silver will be September and here the OI already jumped by another 4078 contracts up to 157,195.
The line in the sand is $18.50 for silver and again it has been defended by the criminal bankers. Once this level is pierced, the monstrous billion oz of silver shorts will blow up. The bankers are defending the Alamo with their last stand at the $18.50 mark. THE NEW RECORD HIGH IN OPEN INTEREST WAS SET FRIDAY APRIL 21/2017 AT: 234,787.
As for the July contracts:
Initial amount that stood for silver for the July 2016 contract: 14.785 million oz
Final standing JULY 2016: 12.370 million with the difference being EFP’s taking delivery in London. Thus we are basically on par to what happened a year ago as to the total amount of silver ounces standing.
We had 397 notice(s) filed for 1,985,000 oz for the June 2017 contract
VOLUMES: for the gold comex
Today the estimated volume was 365,952 contracts which is excellent/
Yesterday’s confirmed volume was 324,316 contracts which is excellent
volumes on gold are STILL HIGHER THAN NORMAL!
|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||NIL oz|
|Total accumulative withdrawal of gold from the Customer inventory this month||NIL oz|
Today, 0 notice(s) were issued from JPMorgan dealer account and 12 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.
|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)||
( 4,020,000 oz)
|Total monthly oz silver served (contracts)||1601 contracts (8,005,000 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||178,970.1 oz|
NPV for Sprott and Central Fund of Canada
Sprott’s hostile 3.1 billion bid to take over Central Fund of Canada
Sprott makes hostile $3.1 billion bid for Central Fund of Canada
Submitted by cpowell on Thu, 2017-03-09 01:19. Section: Daily Dispatches
From the Canadian Press
via Canadian Broadcasting Corp. News, Toronto
Wednesday, March 8, 2017
Toronto-based Sprott Inc. said Wednesday it’s making an all-share hostile takeover bid worth $3.1 billion US for rival bullion holder Central Fund of Canada Ltd.
The money-management firm has filed an application with the Court of Queen’s Bench of Alberta seeking to allow shareholders of Calgary-based Central Fund to swap their shares for ones in a newly-formed trust that would be substantially similar to Sprott’s existing precious metal holding entities.
The company is going through the courts after its efforts to strike a friendly deal were rebuffed by the Spicer family that controls Central Fund, said Sprott spokesman Glen Williams.
“They weren’t interested in having those discussions,” Williams said.
Sprott is using the courts to try to give holders of the 252 million non-voting class A shares a say in takeover bids, which Central Fund explicitly states they have no right to participate in. That voting right is reserved for the 40,000 common shares outstanding, which the family of J.C. Stefan Spicer, chairman and CEO of Central Fund, control.
If successful through the courts, Sprott would then need the support of two-thirds of shareholder votes to close the takeover deal, but there’s no guarantee they will make it that far.
“It is unusual to go this route,” said Williams. “There’s no specific precedent where this has worked.”
Sprott did have success last year in taking over Central GoldTrust, a similar fund that was controlled by the Spicer family, after securing support from more than 96 percent of shareholder votes cast.
The firm says Central Fund’s shares are trading at a discount to net asset value and a takeover by Sprott could unlock US$304 million in shareholder value.
Central Fund did not have any immediate comment on the unsolicited offer. Williams said Sprott had not yet heard from Central Fund on the proposal but that some shareholders had already contacted them to voice their support.
Sprott’s existing precious metal holding companies are designed to allow investors to own gold and other metals without having to worry about taking care of the physical bullion.
And now the Gold inventory at the GLD
July 5/A MASSIVE 5.62 TONNES OF GOLD LEFT THE GLD AND NO DOUBT WAS USED IN THE RAID THIS MORNING/INVENTORY REST
July 3/ A MASSIVE 7.37 TONNES OF GOLD LEAVE THE GLD/INVENTORY RESTS AT 846.29 TONNES
June 30/no change in gold inventory at the GLD/Inventory rests at 853.66 tonnes
June 29/no change in inventory at the GLD/inventory rests at 853.66 tonnes
June 28/no change in inventory at the GLD/Inventory rests at 853.66 tonnes
June 27.2017/a deposit of 2.64 tonnes into the GLD/inventory rests at 853.66 tonnes
June 26/a withdrawal of 2.66 tonnes from the GLD and this gold no doubt was part of the raid/Inventory rests at 851.02
June 23/no change in gold inventory at the GLD/Inventory rests at 853.68 tonnes
June 22/no change in gold inventory at the GLD/Inventory rests at 853.68 tonnes
June 21/no change in gold inventory at the GLD/Inventory rests at 853.68 tonnes
June 20/no change in gold inventory at the GLD//Inventory rests at 853.68 tonnes
June 19/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 853.68 TONNES
June 16/no changes in gold inventory at the GLD/Inventory rests at 853.68 tonnes
June 15/ a monstrous “paper” withdrawal of 13.32 tonnes/Inventory rests at 853.68 tonnes
June 14./NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 867.00 TONNES
June 13. No change in gold inventory at the GLD/Inventory rests at 867.00 tonnes
June 12/No change in gold inventory at the GLD/Inventory rests at 867.00 tonnes
June 9/no change in inventory at the GLD/Inventory rests at 867.00 tonnes
June 8/AN ADDITION OF 3.07 TONNES OF GOLD ADDED TO THE GLD/INVENTORY RESTS AT 867.00 TONNES
June 7 a huge change in inventory/a deposit of 13.93 tonnes/inventory rests at 864.93 tonnes
June 6/ no changes in inventory at the GLD/Inventory remains at 851.00 tonnes
June 5.2017/no changes at the GLD/Inventory remain at 851.00 tonnes
June 2/2017/a huge deposit of 3.55 tonnes of gold into the GLD/Inventory rests at 851.00 tonnes
June 1/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 847.45 TONNES
May 31./ no change in gold inventory at the GLD/Inventory rests at 847.45 tonnes
May 30/no change in gold inventory at the GLD/Inventory rests at 847.45 tonnes
May 26./no change in inventory at the GLD/Inventory rests at 847.45 tonnes
May 25./no change in inventory at the GLD/Inventory rests at 847.45 tonnes
May 24/no change in inventory at the GLD/inventory rests at 847.45 tonnes
May 23/a paper withdrawal of 5.03 tonnes of gold from the GLD/Inventory rests at 847.45 tonnes
May 22/A DEPOSIT OF 1.77 TONNES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 852.48 TONNES
May 19/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 850.71 TONNES
May 18/a withdrawal of 1.18 tonnes of gold from the GLD/Inventory rests at 850.71
May 17/no change in the GLD inventory/inventory rests at 851.89 tonnes
Now the SLV Inventory
July 5/STRANGE! NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 339.605 MILLION OZ
July 3/strange! with the huge whacking of silver we got an increase of 379,000 oz into inventory.
June 30/no change in silver inventory at the SLV/Inventory rests at 339.226 million oz
June 29/no change in silver inventory at the SLV/Inventory rests at 339.226 million oz/
June 28/ a small withdrawal of 662,000 oz form the SLV/Inventory rests at 339.226 million oz/
June 27/no change in the silver inventory at the SLV/Inventory rests at 339.888 million oz/
June 26/no change in the silver inventory at the SLV/Inventory rests at 339.888 million oz/
June 23/no change in silver inventory at the SLV/Inventory rests at 339.888 million oz
June 22/ a big change; a huge deposit of 2.175 million oz into the SLV/Inventory rests at 339.888 million oz
June 21/no change in silver inventory at the SLV/inventory rests at 337.713 million oz
June 20/a deposit of 1.513 million oz/inventory rests at 337.713 million oz/.
June 19/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 336.200 MILLION OZ
June 16/no changes in inventory at the SLV/inventory rests at 336.200 million oz
June 15/ a massive “paper withdrawal” of 3.405 million oz of silver/Inventory rests at 336.200 million oz/
June 14/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 339.605 MILLION OZ/
June 13/no change in silver inventory at the SLV/Inventory rests at 339.605 million oz
June 12/no change in silver inventory at the SLV/Inventory rests at 339.605 million oz/
June 9/no change in silver inventory at the SLV/Inventory rests at 339.605 million oz/
June 8/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 339.605 MILLION OZ/
June 7/no change in inventory at the SLV/inventory rests at 339.605 million oz/
June 6/no change in inventory at the SLV/Inventory rests at 339.605 million oz.
June 5/a huge change at the SLV/a withdrawal of 1.371 million oz /inventory rests at 339.605 million oz/
June 2/no change in silver inventory at the SLV/Inventory rests at 340.976 million oz/
June 1/NO CHANGE IN INVENTORY AT THE SLV/INVENTORY RESTS AT 340.976 MILLION OZ
May 31./ no change in silver inventory at the SLV/inventory rests at 340.976 million oz/
May 30/no change in silver inventory at the SLV/inventory rests at 340.976 million oz
May 26/another paper withdrawal of 946,000 oz of silver from the SLV with silver rising/inventory rests at 340.976 million oz
May 25/no change in silver inventory at the SLV/Inventory rests at 341.922 million oz
May 24./a “paper” withdrawal of 1.893 million oz from the SLV/inventory rests tonight at 341.922 million oz
May 23/no change in silver inventory at the SLV/inventory rests at 343.815 million oz
May 19/no change in silver inventory at the SLV/Inventory rests at 343.815 million oz.
may 18/2017/another big deposit of 1.42 million oz added to the SLV/inventory rests at 343.815 million oz.
may 17/no change in silver inventory at the SLV/Inventory rests at 342.395 million oz/