Silver Open Interest Surges Despite Drubbing

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
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GOLD: $1220.40  UP $2.40

Silver: $15.92  DOWN 18  cent(s)

Closing access prices:

Gold $1227.00

silver: $16.10

 

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

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SECOND SHANGHAI GOLD FIX: $1244.88

NY GOLD PRICE AT THE EXACT SAME TIME: $1235.85

Premium of Shanghai 2nd fix/NY:$9.03

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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:

JULY/

NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH:  1 NOTICE(S) FOR 100  OZ.

TOTAL NOTICES SO FAR: 39 FOR 3900 OZ    (.1213 TONNES)

 
 
 

For silver:

JULY

 

 397 NOTICES FILED TODAY FOR

 

1,985,000  OZ/

Total number of notices filed so far this month: 1601 for 8,005,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

 

 

 
 
 

end

 
 

Let us have a look at the data for today

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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.

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

GLD:

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

.

SLV

Today: STRANGE:  NO CHANGE IN SILVER INVENTORY/INVENTORY RESTS AT 339.605 MILLION OZ

 

Please note the difference between gold and silver

end

.

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. 

(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

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

i)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.

( zerohedge)

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?

( zerohedge)

 
 

4. EUROPEAN AFFAIRS

i)ITALY

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)

ii)ITALY

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

 

( Reuters)

v)UK/EUROPE

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

i)Saudi Arabia/Qatar:

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)

ii)Interesting: over 500,000 Syrian refugees have returned to their homes and all of these are in Government controlled areas of Syria.  Not areas controlled by the rebels.  It seems that if a vote was to be held, Assad would win by 90%It kind of shows that the entire conflict was created by the USA and western allies

(courtesy Whitney Webb/AntiMedia.org)

iii)Good reason for gold to go down today:  Turkey warns it is ready for military intervention in Syria (in which they are already doing so) as they accuse their ally the USA of creating a “terrorist army”
( zero hedge)

6 .GLOBAL ISSUES

 
 

7. OIL ISSUES

 
 
 

8. EMERGING MARKET

i)SOUTH AFRICA

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

i)Turk explains that despite the constant waterfalls in gold and silver we have been experiencing this year, both metals are doing relatively well but most importantly in London, gold and silver are backward in price i.e. the spot delivery is higher than future deliveries in their forwards
( James Turk/Kingworldnews)
 

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

( Reuters)

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

 

(zerohedge)

ii)Tuesday

( zerohedge)

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

( zerohedge)

iv b) David Stockman continues on the same subject as above

(David Stockman)

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

 

 
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And now for the wild silver comex results.  Total silver OI SURPRISINGLY ROSE BY 2,485 contracts FROM 201,056 up to 203,541 DESPITE FRIDAY’S  47 CENT LOSS AND CONSTANT TORMENT. OUR BANKER FRIENDS ARE DESPERATELY TRYING TO COVER THEIR SHORTS IN SILVER BUT AS YOU CAN SEE  THEY HAVE NOT BEEN AS SUCCESSFUL AS THEY WOULD HAVE LIKED. THE BIG NEWS IS THE FACT THAT WE  ENTERED FIRST DAY NOTICE AND BEYOND AND  WE HARDLY HAD ANY OBLITERATION OF OPEN INTEREST. THIS IS THE FIRST TIME THIS HAS HAPPENED IN OVER 2 YEARS.
 
 
 
 
 

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!

 
Initial standings for JULY
 July 5/2017.
 
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 oz
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
 
1 notice(s)
 
100 OZ
 
 
No of oz to be served (notices)
73 contracts
7300 oz
 
Total monthly oz gold served (contracts) so far this month
 
39 notices
3,900 oz
.1213 tonnes
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 we HAD  0 kilobar transaction(s)/ 
We had 0 deposit into the dealer:
 
 
 
 
total dealer deposits: NIL oz
 
We had NIL dealer withdrawals:
 
 
total dealer withdrawals:  NIL oz
we had no dealer deposits:
 
total dealer deposits:  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 1 adjustment(s):
i) from the HSBC vault: 3,279.402 oz was adjusted out of the dealer and this landed into the customer account of HSBC
 
 
 
 
 
For JULY:
 

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.

 
 
 
 
 
 
 
 
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To calculate the initial total number of gold ounces standing for the JULY. contract month, we take the total number of notices filed so far for the month (39) x 100 oz or 3,900 oz, to which we add the difference between the open interest for the front month of JUNE (73 contracts) minus the number of notices served upon today (1) x 100 oz per contract equals 13,100  oz, the number of ounces standing in this NON active month of JULY.
 
Thus the INITIAL standings for gold for the JULY contract month:
No of notices served so far (39) x 100 oz  or ounces + {(74)OI for the front month  minus the number of  notices served upon today (1) x 100 oz which equals 13,200 oz standing in this  active delivery month of JUNE  (0.4105 tonnes)
 
We lost 22 contracts or 2200 oz will not stand but these guys were given 22 EFP contracts described as above.
.
 
 
 
 
 
 
 
 
 
 
 
 
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Total dealer inventory 854,084.858 or 26.470 tonnes 
Total gold inventory (dealer and customer) = 8,616,722.334 or 268.01 tonnes 
 
 
 
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 268.01 tonnes for a  loss of 35  tonnes over that period.  Since August 8/2016 we have lost 86 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 10 MONTHS  85 NET TONNES HAS LEFT THE COMEX.
 
end
 
And now for silver
 
AND NOW THE June DELIVERY MONTH
 
JULY INITIAL standings
 July 5 2017
Silver Ounces
Withdrawals from Dealers Inventory  nil
Withdrawals from Customer Inventory
 
 
 
 
 
 
 
 
 nil  oz
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
 
 
 
 
602,295.92  oz
Brinks
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
824,107.160 oz
Scotia
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
 397 CONTRACT(S)
(1,985,000 OZ)
No of oz to be served (notices)
804 contracts
( 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
 
 
 
today, we had  1 deposit(s) into the dealer account:
 
i) into Brinks: 602,295.92 oz
 
 
 
total dealer deposit: 602,295.92   oz
 
we had Nil dealer withdrawals:
 
total dealer withdrawals: nil oz
 
 
we had 0 customer withdrawal(s):
 
 
 
 
 
 
 
 
 
 
 
TOTAL CUSTOMER WITHDRAWALS:   nil oz
 
 
 
We had 1 Customer deposit(s):
i) Into Scotia: 824,107.160 oz
 
 
 
 
 
***deposits into JPMorgan have now stopped again
In the month of March and February, JPMorgan stopped (received) almost all of the comex silver contracts.
why is JPMorgan bringing in so much silver??? why is this not criminal in that they are also the massive short in silver
 
 
 
 
 
 
 
 
 
 
 
 
 
total customer deposits: nil oz
 
 
 we had 0 adjustment(s)
 
 
 
The total number of notices filed today for the JULY. contract month is represented by 397 contract(s) for 1,985,000 oz. To calculate the number of silver ounces that will stand for delivery in JUNE., we take the total number of notices filed for the month so far at 1601 x 5,000 oz  = 8,005,000 oz to which we add the difference between the open interest for the front month of JUNE (1201) and the number of notices served upon today (397) x 5000 oz equals the number of ounces standing
 

 

.
 
Thus the INITIAL standings for silver for the JULY contract month:  1601 (notices served so far)x 5000 oz  + OI for front month of JUNE.(1201 ) -number of notices served upon today (397)x 5000 oz  equals  12,025,000 oz  of silver standing for the JULY contract month.
We  gained 3 contracts for an additional 15000 oz  that will stand at the comex and 0 EFP’s were issued.
 
 
 
 
 
 
 
 
 
 
 
 
 
Volumes: for silver comex
 
 
 
Today the estimated volume was 130,356 which is huge
Yesterday’s  confirmed volume was 98,064 contracts which is  HUGE
 
YESTERDAY’S CONFIRMED VOLUME OF 98,064 CONTRACTS EQUATES TO 490 MILLION OZ OF SILVER OR 70% OF ANNUAL GLOBAL PRODUCTION OF SILVER EX CHINA EX RUSSIA). IN OUR HEARINGS THE COMMISSIONERS STRESSED THAT THE OPEN INTEREST SHOULD BE AROUND 3% OF THE MARKET.
 
 
 
 
 
 
 
 
 
 
 
 
Total dealer silver:  37.585 million (close to record low inventory  
Total number of dealer and customer silver:   210.363 million oz
 
 
 
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 and Central Fund of Canada

 
1. Central Fund of Canada: traded at Negative 6.1 percent to NAV usa funds and Negative 6.3% to NAV for Cdn funds!!!! 
Percentage of fund in gold 62.8%
Percentage of fund in silver:37.1%
cash .+0.1%( July 5/2017) 
 
 
 
 
 
 
2. Sprott silver fund (PSLV): STOCK   NAV  FALLS TO +.11% (July 5/2017) 
3. Sprott gold fund (PHYS): premium to NAV FALLS TO -0.82% to NAV  (July 5/2017 )
Note: Sprott silver trust back  into POSITIVE territory at +0.11 /Sprott physical gold trust is back into NEGATIVE/ territory at -0.82%/Central fund of Canada’s is still in jail  but being rescued by Sprott.
 

Sprott’s hostile 3.1 billion bid to take over Central Fund of Canada

(courtesy Sprott/GATA)

Sprott makes hostile $3.1 billion bid for Central Fund of Canada

 Section: Daily Dispatches

From the Canadian Press
via Canadian Broadcasting Corp. News, Toronto
Wednesday, March 8, 2017

http://www.cbc.ca/news/canada/calgary/sprott-takeover-bid-central-fund-c…

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.

end

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

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July 5 /2017/ Inventory rests tonight at 840.67 tonnes
 
*IN LAST 184 TRADING DAYS: 106.46 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 125 TRADING DAYS: A NET  20.97 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
*FROM FEB 1/2017: A NET  34.09 TONNES HAVE BEEN ADDED.

end

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/