“This Is BULLISH!” – Harvey Organ’s Gold & Silver COT Report

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:

Gold $1284.60

silver: $17.94!!!

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

SECOND SHANGHAI GOLD FIX: $1288.50

NY GOLD PRICE AT THE EXACT SAME TIME: 1279,95

Premium of Shanghai 2nd fix/NY:$8.55

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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:

APRIL/

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:

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

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

 

END

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

.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

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

GLD:

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

.

SLV

We had no changes in silver inventory at the SLV today/

THE SLV Inventory rests at: 326.308 million oz

end

.

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

(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 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:

( zerohedge)

ii)North Korea

New satellite images seems to suggest that North Korea is preparing to a nuclear test

( zero hedge)

b) REPORT ON JAPAN

none today

 

c) REPORT ON CHINA

none today

4. EUROPEAN AFFAIRS

i)PARIS FRANCE

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

none today

6 .GLOBAL ISSUES

none today

7. OIL ISSUES

i)Very popular Art Berman explains why the oil markets are far from recovery:

  1. strong production from the uSA
  2.  the WTI price structure is in backwardation which induces much selling
  3. 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

( zerohedge)

 

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]com)

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.

( zerohedge)

ii)David Stockman provides a dandy for us to close out the week

( 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

 

 
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
 
 
And now for the wild silver comex results.  Total silver OI ROSE BY 5,560 contracts FROM   229,227 UP TO 234,787  DESPITE YESTERDAY’S  15 CENT PRICE LOSS.  In both gold and silver, the bankers had no choice as they supplied the necessary paper to contain both of our precious metal’s excitement
 
The line in the sand is $18.50 for silver.  Once 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.
 
 
 
 
 
 
We HAVE NOW SURPASSED  the all time record high for silver open interest set on Wednesday August 3/2016:  (224,540). The closing price of silver that day: $20.44.  EVEN THOUGH WE HAVE SET ANOTHER RECORD HIGH TODAY IN OI,  WE ARE STILL $2.54 BELOW THE PRICE OF $20.44 WHEN THE PREVIOUS RECORD WAS SET LAST YEAR.
 
THUS WE HAVE A NEW RECORD HIGH SET TODAY APRIL 21/2017:  234,787.
 
 

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!

 
INITIAL standings for APRIL
 April 21/2017.
 
Gold Ounces
Withdrawals from Dealers Inventory in oz   nil
Withdrawals from Customer Inventory in oz  
 
 
 
 
 
 514.416 oz
 
 Brinks
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz 
 
 nil
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served (contracts) today
 
51 notice(s)
5100 OZ
 
 
No of oz to be served (notices)
721 contracts
72,100 oz
 
Total monthly oz gold served (contracts) so far this month
 
718 notices
71800 oz
2.233 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   453,188.2 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 1 customer withdrawal(s)
 
 
 
i) Out of brinks: 514.416 oz
 
 
 
 
total customer withdrawal: 514.416 oz
 
 
 we had 0 adjustments:
 
 
 
For APRIL:
 

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.

 
 
 
 
 
 
 
 
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
To calculate the initial total number of gold ounces standing for the APRIL. contract month, we take the total number of notices filed so far for the month (718) x 100 oz or 71,800 oz, to which we add the difference between the open interest for the front month of APRIL (772 contracts) minus the number of notices served upon today (51) x 100 oz per contract equals 143,900 oz, the number of ounces standing in this  active month of APRIL.
 
Thus the INITIAL standings for gold for the APRIL contract month:
No of notices served so far (718) x 100 oz  or ounces + {(772)OI for the front month  minus the number of  notices served upon today (51) x 100 oz which equals 143,900 oz standing in this non active delivery month of APRIL  (4.4758 tonnes)
 
we LOST 70 contracts or an additional 7000 oz will NOT  stand and THESE were cash settled via the PRIVATE EFP route. IT SURE SEEMS THAT THE COMEX IS OUT OF PHYSICAL METAL TO SUPPLY TO OUR LONGS. THE COMEX IS NOW ONE BIG JOKE!!
 
 
 
 
 
 
 
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
 
 We had 21.206 tonnes of gold initially stand for delivery in April 2016.  By the month’s conclusion we had only 12.39 tonnes stand.
 
 
 
 
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
 
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 4 months of  2017
Jan 2016:  .5349 tonnes  (Jan is a non delivery month)
Feb 2016:  7.9876 tonnes (Feb is a delivery month/deliveries this month very low)
March 2016: 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/2016.   29.931 tonnes
JAN/2017     3.9004 tonnes
FEB/ 18.734 tonnes
March: 0.5816 tonnes
April/2017: 4.4758
 
total for the 16 months;  249.29 tonnes
average 15.580 tonnes per month
 
 
 
 
 
 
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
 
 
 
 
 
Total dealer inventory 992,396.791 or 30.867 tonnes DEALER RAPIDLY LOSING GOLD
Total gold inventory (dealer and customer) = 8,952,104.94 or 278.44 tonnes 
 
 
 
Over a year ago the comex had 303 tonnes of total gold. Today the total inventory rests at 278.44 tonnes for a  loss of 25  tonnes over that period.  Since August 8/2016 we have lost 76 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  76 NET TONNES HAS LEFT THE COMEX.
 
end
 
And now for silver
 
AND NOW THE APRIL DELIVERY MONTH
 
APRIL INITIAL standings
 April 21. 2017
Silver Ounces
Withdrawals from Dealers Inventory  nil
Withdrawals from Customer Inventory
 
 
 
 
 1,428,054.307 oz
 
 
SCOTIA
DELAWARE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Dealer Inventory
 
 
 
 
nil oz
 
 
 
 
 
 
 
 
 
 
 
 
Deposits to the Customer Inventory 
 
 
 
 
 
 
 
597,943,200 oz
 
JPMorgan
 
 
1,098,460.230 oz
Scotia
2010.64 oz
Delaware
 
total:  1,698,414.070 oz
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No of oz served today (contracts)
 0 CONTRACT(S)
(NIL OZ)
No of oz to be served (notices)
0 contracts
(nil  oz)
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
 
 
 
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 2 customer withdrawal(s):
 
 
i) Out of Scotia: 668,395.910 oz
ii) Out of Delaware:  759,658.397 oz
 
 
 
TOTAL CUSTOMER WITHDRAWALS: 1,428,054.307 oz
 
 We had 2 Customer deposits:
i) Into JPMorgan:  597,943.200 oz
ii) Into Delaware:  2010.64 oz
iii) Into Scotia: 1,098,460.230 oz
 
 
 
 
 
 
 
 
***deposits into JPMorgan have now resumed.
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; 1,698,414.070  oz
 
 
 we had 0 adjustment(s)
 
 
 
 
 
The total number of notices filed today for the APRIL. contract month is represented by 0 contract(s) for NIL oz. To calculate the number of silver ounces that will stand for delivery in APRIL., we take the total number of notices filed for the month so far at 892 x 5,000 oz  = 4,460,000 oz to which we add the difference between the open interest for the front month of APRIL (0) and the number of notices served upon today (0) x 5000 oz equals the number of ounces standing 
 
Thus the initial standings for silver for the APRIL contract month:  892(notices served so far)x 5000 oz  + OI for front month of APRIL.(0 ) -number of notices served upon today (0)x 5000 oz  equals  4,460,000 oz  of silver standing for the APRIL contract month. 
 
We neither gained nor lost any silver ounces standing for delivery in this non active delivery month of April. NO CONTRACTS WERE CASH SETTLED THROUGH THE EFP ROUTE.  
 

FOR COMPARISON

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.

 
 
 
 
 
 
 
 
Volumes: for silver comex
 
WHAT!!!!
 
Today the estimated volume was 51,921 which is very good 
Yesterday’s  confirmed volume was 168,161 contracts which is humongous
 
(TODAY’S EST. VOLUME OF 168,161 CONTRACTS EQUATES TO 806 MILLION OZ OF SILVER OR 115% OF ANNUAL GLOBAL PRODUCTION OF SILVER EX CHINA EX RUSSIA)
 
 
 
 
 
 
 
 
 
 
 
 
Total dealer silver:  30.532 million (close to record low inventory  
Total number of dealer and customer silver:   194,574 million oz
 
 
 
The total open interest on silver is  now at record levels of 227,498 contracts with the price of $18.42
The previous record was 224,540 contracts with the price at that time of $20.44
 
 
 
 
 
end
 
 I will update the NPV for Sprott and Central fund later tonight at around 11 pm
 
 
 
 
 
 
 

NPV for Sprott and Central Fund of Canada

will update later tonight the central fund of Canada figures

 
1. Central Fund of Canada: traded at Negative 5.9 percent to NAV usa funds and Negative 6.1% to NAV for Cdn funds!!!! 
Percentage of fund in gold 61.1%
Percentage of fund in silver:38.8%
cash .+0.1%( April 21/2017
 
will update later tonight
 
 
 
 
2. Sprott silver fund (PSLV): Premium RISES TO   -.32%!!!! NAV (April 21/2017
3. Sprott gold fund (PHYS): premium to NAV RISES to +0.47% to NAV  ( April 21/2017)
Note: Sprott silver trust back  into NEGATIVE territory at -.32% /Sprott physical gold trust is back into POSITIVE/ territory at +0.47%/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

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

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
 
April 21 /2017/ Inventory rests tonight at 858.69 tonnes
 
*IN LAST 135 TRADING DAYS: 89.44 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 78 TRADING DAYS: A NET  37,99 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
*FROM FEB 1/2017: A NET  63.42 TONNES HAVE BEEN ADDED.
 

end

 
 

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

million oz/

March 31/no change in inventory at the SLV/Inventory rests at the SLV/Inventory rests at 330.894 million oz/
March 30/a huge withdrawal of 2.746 million oz from the SLV/inventory rests at 330.894 million oz/
March 29/a deposit of 1.136 million oz into the SLV/Inventory rests at 333.640 million oz
March 28/no changes in inventory at the SLV/Inventory rests at 332.504 million oz/
March 27/no changes in inventory at the SLV/Inventory rests at 332.504 million oz/
March 24/no change in inventory at the SLV/Inventory rests at 332.504 million oz/
March 23/no change in inventory at the SLV/Inventory rests at 332.504 million oz
March 22/no change in inventory at the SLV/Inventory rests at 332.504 million oz
March 21/no change in inventory at the SLV/Inventory rests at 332.504 million oz/
March 20/a gain of 1.232 million oz of silver into the SLV/inventory rests at 332.272 million oz/
 
March 17/no change in silver inventory/SLV inventory rests at 331.272 million oz
March 16/no changes in silver inventory/SLV inventory rests at 331.272 million oz
March 15/no change in silver inventory/SLV inventory rests at 331.272 million oz
March 14/ a deposit of 1.136 million oz of inventory into the SLV/Inventory rests at 331.272 million oz
March 13/no change in silver inventory at the SLV/Inventory rests at 330.136 million oz.
March 10/no change in silver inventory at the SLV/Inventory rests at 330.136 million oz/
March 9/another big withdrawal of 1.137 million oz from the SLV/Inventory rests at 330.136 million oz/
March 8/a big change; a withdrawal  of 1.515 million oz from the SLV/Inventory rests at 331.273 million oz/
 
 
 
April 21.2017: Inventory 325.361  million oz
 
 end
 
COT reports:
 
At 3:30 pm est we receive the COT report which gives us position levels of our major players
Let us see what the bankers did in this latest report  (ending Tuesday April 18)
Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
279,311 83,543 48,361 97,769 308,833 425,441 440,737
Change from Prior Reporting Period
26,307 3,205 -9,129 -350 23,350 16,828 17,426
Traders
181 84 73 47 60 255 192
 
Small Speculators  
Long Short Open Interest  
46,822 31,526 472,263  
-696 -1,294 16,132  
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.

Conclusions: 

what criminals;  the commercials go net short by 23,700 contracts which is bearish.

 

And now silver:

Silver COT Report: Futures
Large Speculators Commercial
Long Short Spreading Long Short
128,378 24,491 26,918 46,878 163,710
-3,591 -1,963 8,116 -22 2,396
Traders
98 43 49 33 40
Small Speculators Open Interest Total
Long Short 227,984 Long Short
25,810 12,865 202,174 215,119
3,309 -737 7,812 4,503 8,549
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

Our commercials:

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

Conclusions:

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!