This should be the catalyst to explode the price of gold and silver….
DOW FALLS 98.89/NASDAQ FALLS 100.53 AFTER IMF SAYS THAT THE DOLLAR IS 20% OVERVALUED AND THAT THE USA WILL EXPERIENCE TEPID GROWTH/GOLD UP A FRACTION AND SO IS SILVER/SWITZERLAND EXPORTS HUGE AMOUNT OF SILVER INTO CHINA/EXPORTS HUGE AMOUNTS OF GOLD TO ALL SOURCES/DRAGHI GOES HAWKISH WHICH SENDS THE EURO HIGHER (AND GOLD/SILVER)
GOLD: $1246.40 UP $0.10
Silver: $16.58 UP 2 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: $1253.94 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1243.80
PREMIUM FIRST FIX: $10.03
SECOND SHANGHAI GOLD FIX: $1262.15
NY GOLD PRICE AT THE EXACT SAME TIME: $1250.00
Premium of Shanghai 2nd fix/NY:$12.15
LONDON FIRST GOLD FIX: 5:30 am est $1240.85
NY PRICING AT THE EXACT SAME TIME: $1241.85
LONDON SECOND GOLD FIX 10 AM: $1245.25
NY PRICING AT THE EXACT SAME TIME. $1244.25
For comex gold:
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 77 NOTICE(S) FOR 7700 OZ.
TOTAL NOTICES SO FAR: 2850 FOR 285,000 OZ (8.8646 TONNES)
2 NOTICES FILED TODAY FOR
Total number of notices filed so far this month: 993 for 4,915,000 oz
We have now officially entered options expiry week:
comex options expiry : Tuesday June 27 finished tonight
London options expiry: Friday June 30
first day notice Friday June 30
The big news is the fact that the mainstream media are commenting on the unusual trading of gold and silver.
Also the IMF stated that the dollar is overvalued by 20% and that their growth is quite anemic. This should be the catalyst to explode the price of gold and silver.
Let us have a look at the data for today
In silver, the total open interest SURPRISINGLY FELL BY ONLY 1479 contract(s) DOWN to 203,137 DESPITE THE RAID AND THE FALL IN PRICE OF SILVER THAT TOOK PLACE WITH YESTERDAY’S TRADING (DOWN 7 CENT(S). In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.0150 BILLION TO BE EXACT or 145% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 2 NOTICE(S) FOR 10,000 OZ OF SILVER
In gold, the total comex gold SURPRISINGLY ROSE BY 214 CONTRACTS DESPITE THE RAID IN THE PRICE OF GOLD ($9.90 with YESTERDAY’S TRADING). The total gold OI stands at 450,301 contracts.
we had 77 notice(s) filed upon for 7,700 oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
We had a big change in tonnes of gold at the GLD: a withdrawal of 2.64 tonnes from the GLD
Inventory rests tonight: 853.66 tonnes
Today: no change in silver inventory at the SLV:
THE SLV Inventory rests at: 339.888 million oz
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver FELL BY 1479 contracts DOWN TO 203,137 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787), DESPITE THE FALL IN PRICE FOR SILVER WITH YESTERDAY’S TRADING (DOWN 7 CENTS).We LOST A FEW BUT MOST 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 MONDAY night/TUESDAY morning: Shanghai closed UP 5.75 POINTS OR 0.18% / /Hang Sang CLOSED DOWN 31.90 POINTS OR 0.12% The Nikkei closed UP 71,74 POINTS OR 0.36%/Australia’s all ordinaires CLOSED DOWN 0.10%/Chinese yuan (ONSHORE) closed UP at 6.8145/Oil UP to 43.79 dollars per barrel for WTI and 46.33 for Brent. Stocks in Europe OPENED ALL IN THE RED,, Offshore yuan trades 6.8176 yuan to the dollar vs 6.8176 for onshore yuan. NOW THE OFFSHORE IS MUCH WEAKER TO THE ONSHORE YUAN/ ONSHORE YUAN STRONGER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS A LOT STRONGER TO THE DOLLAR AND THIS IS COUPLED WITH THE WEAKER DOLLAR. CHINA IS VERY HAPPY TODAY
3a)THAILAND/SOUTH KOREA/NORTH KOREA
.This is big news: Trump is getting increasingly frustrated with China as they deal with North Korea. They may increase steel tariffs or even initiate sanctions against China
( zero hedge)
b) REPORT ON JAPAN
c) REPORT ON CHINA
Last night some of the small caps crashed in price amidst a huge margin call due to lack of good collateral( zero hedge)
4. EUROPEAN AFFAIRS
i) Early this morning, the Euro surged as Draghi for the first time sounded hawkish in that stimulus for the markets may be tapered. He states that the deflation scare is over and that lack of inflation is only temporary( zero hedge)
( zero hedge)
A terrific commentary from Simon Black on the true cost of the bailout of the two small Italian banks. At 17 billion euros it is 1% of GDP and that equates to its annual defense budget.
Two important facts to consider:
- Italy’s non performing loans are 360 billion euros or 18% of GDP
- Italy’s debt to GDP is around 135%
now what happens when the next Italian banks fail?
( Simon Black/SovereignMan.com)
iv)ANOTHER EUROPEAN CYPERATTACK
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
This is shaping up to being a very interesting G20 summit. Germany who is hosting the event in Hamburg has now told Turkish President Erdogan not to bring his bodyguards as they are not welcome.
(courtesy zero hedge)
6 .GLOBAL ISSUES
7. OIL ISSUES
More bad news for WTI and gasoline after an unexpected inventory gain
8. EMERGING MARKET
Last evening, President Temer of Brazil has officially been charged with corruption and he is deeply involved in providing “hush money” to silence individuals in the car wash scandal/ and receiving bribes.
( zero hedge)
9. PHYSICAL MARKETS
i)Wow!! Mainstream media picking up that something is seriously wrong with how gold is trading. It is “ not a “mistake” but longstanding policy”
( Bloomberg news)
ii)The huge flash crash in gold yesterday
iii)My goodness the all realize something that we have noticed 10 years ago: that central banks have been intervening in ALL markets
a must read..
iv)Mysterious my foot!!
( GATA/London’s Financial times)
v)the anatomy of the huge gold raid foisted upon us yesterday: why 4 am was chosen
( Dave Kranzler/IRD)
vi)This is huge: China imported 407 tonnes (13.1 million oz) last month. If they continue at this pace: 156 million oz or 22% of annual production is heading their way!!
( Scrap Register/Shanghai)
vii)Two important points here:
- India has imported 236 tonnes over a 5 month period from Switzerland. Switzerland represents I believe around 50% of their official imports. So ti looks like they are on tap to import on a yearly basis: 1132 tonnes. This does not include smuggled gold from other areas.
- Switzerland exported 170 tonnes total to China and others. If we extrapolate that number; 2040 tonnes or 100% of annual gold production ex China ex Russia
10. USA Stories
i)Well respected Seymour Hersh has now written that the USA lied to the American people concerning the Syrian Chemical Attack and the resultant bombing of Syria
( Seymour Hersh/zero hedge)
( zero hedge)
iii)Syria denies that it has plans for a new chemical attack. Russia slams the uSA warning claiming that this action is totally unacceptable
( zero hedge)
iv)What a riot! The democratic aligned firm that did that wonderful false dossier on Trump somehow refuses to cooperate with Senate investigators…I wonder why?
( zero hedge)
v)Now it is the IMF’s turn to slash USA GDP growth from 2.3% to 2.1% in 2017
( zero hedge/IMF)
vi)Soft data conference board consumer confidence falters to a 5 month low
vii)The Case Shiller home price growth slows as the San Francisco market deflates:
( zero hedge/Case Shiller)
ix)CNN caught red handed in an undercover sting..the producer admits the Russian fake news stories were done for ratings
( zerohedge/Project Veritas)
Let us head over to the comex:
The total gold comex open interest SURPRISINGLY ROSE BY 214 CONTRACTS UP to an OI level of 449,378 DESPITE THE FALL(WHACK) IN THE PRICE OF GOLD ($9.90 with YESTERDAY’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 JUNE and it is one of the BETTER delivery months of the year. In this JUNE delivery month we had A LOSS OF 179 contract(s)FALLING TO 219. We had 103 notices filed yesterday so we LOST 76 contract(s) or an additional 7600 oz will NOT stand for delivery in this very active delivery month of June AND 76 CONTRACT(S)
The non active July contract LOST 277 contracts to stand at 644 contracts. The next big active month is August and here the OI LOST 1164 contracts DOWN to 299,282, as the bankers trying to keep this month down to manageable size.
We had 77 notice(s) filed upon today for 7700 oz
The next big active month will be July and here the OI LOST 8108 contracts DOWN to 40,677 as we start to wind down before first day notice Friday, June 30. July will be interesting to watch in silver as we witness fewer players pitching for EFP contracts than with gold. We have 3 trading days left before first day notice
The month of August, a non active month picked up 128 contracts to stand at 298. The next big active delivery month for silver will be September and here the OI already jumped by another 6452 contracts up to 119,819.
I will give you a snapshot as to what happened last year at the exact number of days before first day notice:
June 27.2016: 44,936 contracts were still outstanding vs 40,677 contracts June 26.2017.WITH THE EXACT SAME NUMBER OF TRADING DAYS BEFORE FIRST DAY NOTICE
At the conclusion of June, the final standing for physical silver was 3,080,000 oz and we have already surpassed that number this year (4,915,000 oz).
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: 12.370 million with the difference being EFP’s taking delivery in London.
We had 2 notice(s) filed for 10,000 oz for the June 2017 contract
VOLUMES: for the gold comex
Today the estimated volume was 212,543 contracts which is GOOD
Yesterday’s confirmed volume was 236,441 contracts which is GOOD
volumes on gold are STILL HIGHER THAN NORMAL!
|Withdrawals from Dealers Inventory in oz||nil|
|Withdrawals from Customer Inventory in oz||
(INCLUDES 15 KILOBARS)
|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||338,438.8 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 77 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 64 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)||
( NIL oz)
|Total monthly oz silver served (contracts)||983 contracts (4,915,000 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||6,332,238.3 oz|
NPV for Sprott and Central Fund of Canada
Sprott’s hostile 3.1 billion bid to take over Central Fund of Canada