As we approached record levels in open interest, the commercials were very reluctant to supply the short paper as they went short by a tiny 2418 contracts.
This is bullish!
SILVER AND GOLD HAVE BEEN WHACKED EVERY DAY THIS WEEK/COMEX SILVER’S OI AGAIN REACHES ANOTHER RECORD LEVEL OF JUST UNDER 235,000 CONTRACTS/GOLD REBOUNDS UP NICELY BY $5.50 TODAY BUT SILVER RETREATS DOWN 16 CENTS/SATELLITE IMAGES SUGGESTS THAT NORTH KOREA MAY UNDERGO ANOTHER NUCLEAR TEST/FRANCE HIT WITH ANOTHER ISLAMIST ATTACK JUST TWO DAYS BEFORE THE ELECTION//FITCH DOWNGRADES ITALY’S SOVEREIGN DEBT TO BBB FROM BBB+
Gold: $1287.40 UP $5.50
Silver: $17.83 DOWN 16 cents
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: $1288.80 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: 1280.50
PREMIUM FIRST FIX: $8.30
SECOND SHANGHAI GOLD FIX: $1288.50
NY GOLD PRICE AT THE EXACT SAME TIME: 1279,95
Premium of Shanghai 2nd fix/NY:$8.55
LONDON FIRST GOLD FIX: 5:30 am est $1281.50
NY PRICING AT THE EXACT SAME TIME: $1281.25
LONDON SECOND GOLD FIX 10 AM: $1281.85
NY PRICING AT THE EXACT SAME TIME. 1282.85 ????
For comex gold:
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 51 NOTICE(S) FOR 5100 OZ.
TOTAL NOTICES SO FAR: 718 FOR 71800 OZ (2.233 TONNES)
For silver: APRIL
0 NOTICES FILED TODAY FOR nil OZ/
Total number of notices filed so far this month: 892 for 4,460,000 oz
The open interest in silver continues to advance with today’s reading at 234,787 contracts a new record) or about 11000 contracts ABOVE the record set last year AND 6000 CONTRACTS ABOVE THE RECORD SET YESTERDAY. It seems that the boys want to attack our precious metals as they are quite nervous about silver and its gigantic high OI for the front month of May.
Our precious metals will be under much pressure from today until Friday April 28 as we enter options expiry week
Comex options expiry Tuesday night. LBMA/OTC options Friday morning at around 11 am
Let us have a look at the data for today
In silver, the total open interest ROSE BY A HUMONGOUS 5,560 contracts UP to 234,787 DESPITE THE FALL IN PRICE ( 12 CENTS) WITH RESPECT TO YESTERDAY’S TRADING. THE HEDGE FUNDS (MANAGED MONEY) CONTINUE TO REMAIN STEADFAST WITH THEIR POSITIONS ON DOWNDRAFT DAYS LIKE YESTERDAY WHILE ADDING TO THEIR LONGS ON GOOD DAYS. THE BANKERS ARE DESPERATELY TRYING TO COVER THEIR EVER BURGEONING SHORTS (OVER 555 MILLION OZ) BUT TO NO AVAIL. In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.174 BILLION TO BE EXACT or 168% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MARCH MONTH/ THEY FILED: 0 NOTICE(S) FOR NIL OZ OF SILVER
In gold, the total comex gold ROSE BY A HUGE 5968 contracts WITH THE RISE IN THE PRICE OF GOLD ($0.50 with YESTERDAY’S TRADING). The total gold OI stands at 477,965 contracts.
we had 51 notice(s) filed upon for 5100 oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
We had A HUGE changes in tonnes of gold at the GLD: A DEPOSIT OF 4.44 TONNES OF GOLD INTO THE GLD
Inventory rests tonight: 858,69 tonnes
We had no changes in silver inventory at the SLV today/
THE SLV Inventory rests at: 326.308 million oz
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver ROSE BY A HUGE 5,560 contracts UP TO 234,787, A NEW COMEX RECORD DESPITE THE FALL IN SILVER YESTERDAY (15 CENTS). We no doubt had some attempted short covering which badly failed as the longs keep piling on making it difficult for them to cover and overpowered the bankers. Our managed money sector (the hedge funds) continue to remain steadfast in their conviction as they added to their positions again with yesterday’s attempted raid. In gold, the open interest ROSE by 5,968 contracts WITH the accompanying RISE in price by $0.50
2.a) The Shanghai and London gold fix report
2 b) Gold/silver trading overnight Europe, Goldcore
and in NY: Bloomberg
2c COT report
3. ASIAN AFFAIRS
i)Late THURSDAY night/FRIDAY morning: Shanghai closed UP 1.05 POINTS OR 0.03%/ /Hang Sang CLOSED DOWN 14.96 POINTS OR 0.06%. The Nikkei closed UP 190.26 OR 1.03% /Australia’s all ordinaires CLOSED UP .53%/Chinese yuan (ONSHORE) closed DOWN at 6.8857/Oil DOWN to 50.66 dollars per barrel for WTI and 52.92 for Brent. Stocks in Europe MOSTLY MIXED ..Offshore yuan trades 6.8870 yuan to the dollar vs 6.8857 for onshore yuan. NOW THE OFFSHORE IS MUCH WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN SLIGHTLY WEAKER (TO THE DOLLAR) AND THE OFFSHORE YUAN ALSO MUCH WEAKER AND THIS IS COUPLED WITH THE STRONGER DOLLAR. CHINA IS NOT HAPPY
3a)THAILAND/SOUTH KOREA/NORTH KOREA
i)North Korea/South Korea
South Korea and China are on alert as North Korea prepares for a major event:
New satellite images seems to suggest that North Korea is preparing to a nuclear test
( zero hedge)
b) REPORT ON JAPAN
c) REPORT ON CHINA
4. EUROPEAN AFFAIRS
Again!! another Islamist attack in Paris as the attackers targeted police officers. One officer is dead, one wounded. One of the perpetrates is dead and the other is on the loose. This should have some effect on the French election on Sunday:
( zero hedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
6 .GLOBAL ISSUES
7. OIL ISSUES
i)Very popular Art Berman explains why the oil markets are far from recovery:
- strong production from the uSA
- the WTI price structure is in backwardation which induces much selling
- demand is weak
( Art Berman/OilPrice.com)
ii)Hedge funds are bailing..crude crashes below 50 dollars per barrel
( zero hedge)
iii)Rig counts continue to rise as USA production is now at 20th month highs
8. EMERGING MARKETS
The poor in Venezuela are too hungry to protest..
( zero hedge)
9. PHYSICAL MARKETS
i)A good commentary from Ted Butler as he hypothesizes that there is a secret agreement which allows JPMorgan to continue with their criminal activity.
( Ted Butler)
ii)An excellent commentary from Alasdair Macleod as he suggests how China will prepare for the end game and gold is the principal beneficiary
( Alasdair Macleod/GoldMoney)
iii) Russia adds a larger an expected 25 tonnes to its official reserves in March
( JSMineset/George King Cassell, [email protected]
iv)Lawrie Williams also weighs in on the huge 800,000 oz addition to Russia’s reserves: (24.88 tonnes)
( Lawrie Williams/Sharp’s Pixley)
10. USA stories
i)Even soft data plunges; Today Manufacturing PMI and Service PMI form Markit shows a huge downdraft.
( David Stockman/Daily Reckoning
Let us head over to the comex:
The total gold comex open interest ROSE BY 5,968 CONTRACTS UP to an OI level of 474,018 DESPITE THE TINY RISE IN THE PRICE OF GOLD ( $0.50 with YESTERDAY’S trading). The bankers again were certainly not shy in supplying the necessary paper to our newbie longs and our stoic hedge funds. We are now in the contract month of APRIL and it is one of the BETTER delivery months of the year. In this APRIL delivery month we had A LOSS OF 71 contract(s) FALLING TO 772. We had 1 notices served yesterday so we LOST 70 contracts or 7000 oz will NOT stand for delivery in the active delivery month of April AND THESE GUYS WITHOUT A DOUBT WERE CASH SETTLED THROUGH THE OBSCURE EFT ROUTE DESCRIBED BY JAMES TURK.
At the end of April/2016 only 12.3917 tonnes stood for physical delivery, although 21.306 tonnes stood initially at the beginning of April 2016.
The non active May/2017 contract month LOST 125 contract(s) and thus its OI is 2039 contracts. The next big active month is June/2017 and here the OI ROSE by 5522 contracts UP to 342,013.
We had 51 notice(s) filed upon today for 5100 oz
We are in the NON active delivery month is APRIL Here the open interest LOST 62 contracts LOWERING TO 0 contracts. We had 62 notices filed yesterday so we neither gained nor lost any silver ounces (contracts) that are standing in this non active month of April and nothing was lost through the EFP route.
The next active contract month is May and here the open interest LOST ONLY 15,517 contracts DOWN to 86,723 contracts which is astonishingly high. It is this front month that the crooked bankers are targeting as they must be frightened to see such a mammoth amount of contracts still standing for metal. We have only 5 trading days before first day notice. The non active June contract GAINED 109 contracts to stand at 300. The next big active month will be July and here the OI gained 19,735 contracts up to 114,015
FOR COMPARISON SAKE, ON APRIL 21/2016 WE HAD 70,955 CONTRACTS STANDING FOR DELIVERY. SO YOU CAN VISUALIZE FOR YOURSELF THE HUGE DIFFERENCE BETWEEN 2016 AND THIS YEAR.
For those keeping score, the initial amount of silver oz that stood for delivery for the May 2016 contract month: 28.01 million oz. By conclusion of the month only 13.58 million oz stood and the rest was cash settled.(EFP ROUTE)
We had 0 notice(s) filed for NIL oz for the APRIL 2017 contract
VOLUMES: for the gold comex
Today the estimated volume was 89,574 contracts which is poor.
Yesterday’s confirmed volume was 253,920 contracts which is very good.
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||453,188.2 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 51 contract(s) of which 0 notices were stopped (received) by jPMorgan dealer and 33 notice(s) was (were) stopped/ Received) by jPMorgan customer account.
March 2016: 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||
total: 1,698,414.070 oz
|No of oz served today (contracts)||
|No of oz to be served (notices)||
|Total monthly oz silver served (contracts)||892 contracts (4,460,000 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||12,860,446.4 oz|
Initially for the April 2016 contract, 1,180,000 oz stood for delivery. At the end of April 2016: 6,775,000 oz stood as bankers needed much silver to fill major holes elsewhere.
NPV for Sprott and Central Fund of Canada
will update later tonight the central fund of Canada figures
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.
I will update gold inventory and silver inventory (GLD and SLV) at 11 pm tonight.
And now the Gold inventory at the GLD
April 21/A DEPOSIT OF 4.44 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 858.69 TONNES
APRIL 20/A WITHDRAWAL OF 6.51 TONNES FROM THE GLD/INVENTORY RESTS AT 854.25 TONNES
April 19/ A DEPOSIT OF 11.84 TONNES INTO THE GLD/INVENTORY RESTS AT 860.76 TONNES
April 18/no changes at the GLD/Inventory remains at 848.92 tonnes
April 17/no changes at the GLD/Inventory remains at 848.92 tonnes
April 13/a deposit of 6.51 tonnes into the GLD/Inventory rests at 848.92 tonnes
this no doubt is a paper deposit/
APRIL 12/no changes in gold inventory at the GLD/Inventory rests at 842.41 tonnes
April 11/a huge deposit of 4.12 tonnes into inventory/Inventory rests at 842.41 tonnes
this would no doubt be a paper gold entry. It would be difficult to find that amount of physical gold.
April 10/1.77 tonnes added into inventory at the GLD/inventory rests at 838.29 tonnes
April 7/a small withdrawal of .28 tonnes from the GLD/Inventory rests at 836.49 tonnes
April 6/no change in gold tonnage at the GLD/Inventory rests at 836.77 tonnes
April 5/no change in gold tonnage at the GLD/Inventory rests at 836.77 tonnes
April 4/no change in gold tonnage at the GLD/Inventory rests at 836.77 tonnes
April 3.2017: a huge deposit of 4.45 tonnes of gold into the GLD/Inventory rests at 836.77 tonnnes
March 31/another withdrawal of 1.19 tonnes of gold inventory fro the GLD/this inventory would no doubt be heading for Shanghai/GLD inventory: 822.32 tonnes
March 30/no changes in gold inventory at the GLD/Inventory rests at 833.51 tonnes
March 29/a withdrawal of 1.78 tonnes of gold out of the GLD/Inventory rests tongith at 833.51 tonnes
March 28/this is good!! A deposit of 2.67 tonnes of gold into the GLD/Inventory rests at 835.29 tonnes.
March 27/no changes in gold inventory at the GLD/Inventory rests at 832.62 tonnes
March 24/another withdrawal of 1.78 tonnes from the GLD/Inventory rests at 832.62 tonnes
March 23/no change in gold inventory at the GLD/Inventory rests at 834.40 tonnes
March 22/no changes in gold inventory at the GLD/Inventory rests at 834.40 tonnes
March 21/a deposit of 4.15 tonnes of gold into the GLD/Inventory rests at 834.40 tonnes
March 20/WE HAD A MASSIVE 6.81 TONNE WITHDRAWAL FROM THE GLD/INVENTORY RESTS AT 830.25 TONNES/THIS GOLD MUST BE ON ITS WAY TO SHANGHAI. WITH GOLD RISING THESE PAST FEW DAYS, IT MAYS NO SENSE WHATSOEVER ON GOLD LIQUIDATION.
March 17/a huge withdrawal of 2.37 tonnes from the GLD/Inventory rests at 837.06 tonnes
March 16/no changes in gold inventory at the GLD/Inventory rests at 839.43 tonnes
March 15/ANOTHER HUGE DEPOSIT OF 4.44 TONNES/inventory rests at 839.43 tonnes
March 14/strange they whack gold and yet the GLD adds 2.93 tonnes of gold./inventory rests at 834.99 tonnes
March 13/a deposit of 6.78 tonnes of gold into the GLD/Inventory rests at 832.03 tonnes
March 10/ a withdrawal of 4.886 tonnes from the GLD/Inventory rests at 830.25
this tonnage no doubt is off to Shanghai
March 9/a withdrawal of 2.67 tonnes from the GLD/Inventory rests at 834.10
March 8/no change in gold inventory at the GLD/inventory rests at 836.77 tones
Now the SLV Inventory
April 21/A WITHDRAWAL OF 719,000 OZ OF SILVER AT THE SLV/INVENTORY RESTS AT 325.361 MILLION OZ/
APRIL 20/NO CHANGES IN INVENTORY AT THE SLV/INVENTORY RESTS AT 326.308 MILLION OZ
April 19/a withdrawal of 1.893 million oz/inventory rests at 326.308 million oz/
April 18/no changes in inventory at the SLV/Inventory rests at 328.201 million oz
April 17/no changes in inventory at the SLV/Inventory rests at 328.201 million oz
April 13/no changes in inventory at the SLV/Inventory rests at 328.201 million oz
April 12/no changes in inventory at the SLV/Inventory rests at 328.201 million oz/
April 11/a paper deposit of 11.131 million oz into the SLV/no doubt yesterday’s entry of a withdrawal of 11.231 million oz was in error/328.201 million oz
April 10/ a paper withdrawal of 11.231 million oz of silver from the SLV and this silver was used in the raid today. Inventory rests at 317.231 million oz
April 7./ a withdrawal of 947,000 oz of silver from the SLV/Inventory rests at 328.201 million oz.
April 6/a tiny withdrawal of 136,000 oz of silver from the SLV/Inventory rests at 329.148 million oz
April 5/ a withdrawal of 1.042 million oz from the SLV/Inventory rests at 329.284 million oz
April 4/no change in inventory at the SLV/Inventory rests at 330.326 million oz/
April 3.2017; a withdrawal of 568,000 oz from the SLV/Inventory rests at 330.326
|Gold COT Report – Futures|
|Change from Prior Reporting Period|
|non reportable positions||Change from the previous reporting period|
|COT Gold Report – Positions as of||Tuesday, April 18, 2017|
Our large speculators:
Those large speculators that have been long in gold added a huge 26,307 contracts to their long side
those large speculators that have been short in gold added 3205 contracts to their short side
Our criminal commercials:
those commercials that have been long in gold pitched a tiny 350 contracts from their long side
those commercials that have been short in gold added another 23,350 contracts to their short side
Our small specs:
those small specs that have been long in gold pitched 696 contracts from their long side’
those small specs that have been short in gold covered 1294 contacts from their short side.
Managed money (hedge funds)
a subset of the large/small specs
those long added 19,160 contracts to their long side and those short added 935 contracts so the net addition is 18225
the hedge funds piled into gold like there was no tomorrow.
what criminals; the commercials go net short by 23,700 contracts which is bearish.
And now silver:
|Silver COT Report: Futures|
|Small Speculators||Open Interest||Total|
|non reportable positions||Positions as of:||155||118|
|Tuesday, April 18, 2017||© SilverSeek.com|
Our large speculators:
those large speculators that have been long in silver pitched 3591 contracts from their long side
those large speculators that have been short in silver covered 1963 contracts from their short side
those commercials that have been long in silver pitched a tiny 22 contracts from their long side
those commercials that have been short in silver added a tiny 2396 contracts to their short side
Our small specs;
those small specs that have been long in silver added 3319 contracts to their long side
those small specs that have been short in silver covered 737 contracts from their short side
Managed money (hedge funds)
here those hedge funds who have been long in silver pitched 3960 contracts from their long side
those hedge funds who have been short in silver covered 1760 contracts from their short side
thus managed money went net short by 2200 contracts
as we approached record levels in open interest, the commercials were very reluctant to supply the short paper as they went short by a tiny 2418 contracts
this is bullish!