GOLD AND SILVER REBOUND IN THE ACCESS MARKET AS MARKETS STILL CANNOT DIGEST WHAT ON EARTH THE FED IS DOING/STRANGE DATA AT THE COMEX; GOLD OPEN INTEREST RISES BY 13000 CONTRACTS BUT THE SILVER OI FALLS BY 3,000 CONTRACTS/MOODY’S DOWNGRADES SOVEREIGN CHINA’S DEBT/CHAOS ON THE STREETS OF BRAZIL
GOLD: $1253.45 down $2.50
Silver: $17.12 down 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: $1260.70 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: 1251.40
PREMIUM FIRST FIX: $9.30
SECOND SHANGHAI GOLD FIX: $1257.32
NY GOLD PRICE AT THE EXACT SAME TIME: 1248.91
Premium of Shanghai 2nd fix/NY:$8.41
LONDON FIRST GOLD FIX: 5:30 am est $1259.90
NY PRICING AT THE EXACT SAME TIME: $1260.40
LONDON SECOND GOLD FIX 10 AM: $1252.55
NY PRICING AT THE EXACT SAME TIME. $1252.70
For comex gold:
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 3 NOTICE(S) FOR 300 OZ.
TOTAL NOTICES SO FAR: 524 FOR 52400 OZ (1.6298 TONNES)
For silver: MAY
8 NOTICES FILED TODAY FOR 40,000 OZ/
Total number of notices filed so far this month: 4583 for 22,915,000 oz
We have now entered options expiry week:
options expiry on the comex Thurs: May 25. (corrected) Options expiry for the OTC/LBMA gold/silver contracts: May 31/2017 at around 12 noon. So far our crooks are losing control over the options expiry period. Tomorrow is comex expiry but the big one is the London’s OTC expiry. If the precious metal prices hold throughout the week, then I can safely say that the bankers are running for the hills.
Let us have a look at the data for today
In silver, the total open interest FELL BY 3,944 contracts DOWN to 203,459 DESPITE THE TINY FALL IN PRICE OF SILVER THAT TOOK PLACE WITH YESTERDAY’S TRADING (DOWN 6 CENT(S). IT IS OBVIOUS THAT WE ARE GETTING SOME BANKER SHORT COVERING IN CONJUNCTION WITH BANKER DELTA HEDGING. In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.017 BILLION TO BE EXACT or 145% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 8 NOTICE(S) FOR 40,000 OZ OF SILVER
In gold, the total comex gold ROSE BY A HUMONGOUS 13,795 contracts DESPITE THE FALL IN THE PRICE OF GOLD ($5.65 with YESTERDAY’S TRADING). The total gold OI stands at 462,572 contracts. THE BANKERS SUPPLIED THE NECESSARY SHORT PAPER IN TOTAL CONTRAST TO SILVER DESPITE THE FALL IN PRICE ON BOTH METALS. WE MAY HAVE WITNESSED SOME OF THOSE LONG CALLS HIDDEN IN THE EFP’S BEING EXERCISED FOR THE JUNE CONTRACT MONTH
we had 3 notice(s) filed upon for 300 oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
We had no changes in tonnes of gold at the GLD
Inventory rests tonight: 847.45 tonnes
Today: big changes in inventory/a withdrawal of 1.893 million oz from the SLV
THE SLV Inventory rests at: 341.922 million oz
Here is a strange fact for the CFTC to price discover:
when the record OI occurred on April 21, the price of silver was at $18.42 (OI record 234,000 contracts. Interestingly the SLV inventory on April 21 was 325 million oz and today it is 343 million dollars and the price of silver is $1.19 less. And the comex is a price discovery mechanism????
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver FELL BY 3,944 contracts DOWN TO 203,459, (AND STILL CLOSE TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787), DESPITE THE FALL IN PRICE FOR SILVER WITH YESTERDAY’S TRADING (6 CENTS). NO QUESTION THAT WE HAD SHORT COVERING BY THE BANKERS ALONG WITH SOME BANKER DELTA HEDGING.
2.a) The Shanghai and London gold fix report
2 b) Gold/silver trading overnight Europe, Goldcore
and in NY: Bloomberg
3. ASIAN AFFAIRS
i)Late TUESDAY night/WEDNESDAY morning: Shanghai closed UP 2.13 POINTS OR .07% / /Hang Sang CLOSED UP 25.35 POINTS OR 0.10% The Nikkei closed UP 129.70 POINTS OR 0.66%/Australia’s all ordinaires CLOSED UP 0.15%/Chinese yuan (ONSHORE) closed DOWN at 6.8903/Oil UP to 51.51 dollars per barrel for WTI and 54.28 for Brent. Stocks in Europe OPENED IN THE RED EXCEPT LONDON ..Offshore yuan trades 6.8786 yuan to the dollar vs 6.8903 for onshore yuan. NOW THE OFFSHORE IS A LITTLE STRONGER TO THE ONSHORE YUAN/ ONSHORE YUAN WEAKER (TO THE DOLLAR) AND THE OFFSHORE YUAN IS A LITTLE WEAKER TO THE DOLLAR AND THIS IS COUPLED WITH THE STRONGER DOLLAR. CHINA RECEIVED NEWS THAT ITS DEBT HAS BEEN DOWNGRADED AND THUS ARE NOT HAPPY CAMPERS THIS MORNING.
3a)THAILAND/SOUTH KOREA/NORTH KOREA
i)NORTH KOREA/SOUTH KOREA
South Korea fires warning shots on an unidentified object flying from the North:
( zero hedge)
b) REPORT ON JAPAN
c) REPORT ON CHINA
i)Last night, Moody’s downgrades China from Aa3 to A1 and warns about their worsening debt outlook. However at the end of their trading session, Shanghai ignored the downgrade and finished higher.
( zero hedge)
ii)This is just the beginning: Chinese banks are now in serious trouble
( zero hedge)
4. EUROPEAN AFFAIRS
Britain is not happy with the USA leaks on the suicide bomber Abedi. What we know is that he did not act alone and had proven links to ISIS
( zero hedge)
i b)The brother of Salman Abedi is arrested in Tripoli and 3 others has been detained
If the Spanish government does not allow a regional referendum vote of independence, Catalonia threatens an immediate declaration of Independence.
( Mish Shedlock/Mishtalk)
Amazing, the ECB’s own policies is creating this warning of “excessive exuberance” in house prices. The ECB ses financial instability due to higher yields which of course was fueled by their massive printing of money
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
6 .GLOBAL ISSUES
i)The Canadian loonies surges to a 5 week high after the Bank of Canada surprises with hawkish statements that Canada is doing OK even with lower oil prices
( zero hedge)
ii)Inflation is totally understated in Canada
( National Bank/WolfStreet/WolfRichter)
7. OIL ISSUES
i)This is a very important read…originally estimated to have a SPR of 500 million barrels, it has now grown to over 700 million barrels and that should be close to maximum capacity. For the first time, this month, China is slowing down its purchases of oil
( zero hedge)
a must read…
ii)We just had the 16th straight week of USA increased crude production and that sent both WTI and RBOB southbound;
( zero hedge)
8. EMERGING MARKET
Chaos in Brazil
( zero hedge)
9. PHYSICAL MARKETS
10. USA stories
i)For those of you who think that markets are not manipulated, we now have legendary investor Asher Edelman state that the entire market rally is the PPT
( zero hedge)
( zero hedge)
iii)Existing home sales which includes many flippers, (double counting of home sales) records slumping sales despite prices soaring to record highs
( zero hedge)
iv) Nothing new in the FOMC minutes as the rate hike is “soon” and the economic weakness is probably “transitory”.. However the Fed did say it needs evidence before it rolls off the treasuries from its balance sheet
Let us head over to the comex:
The total gold comex open interest ROSE BY A HUGE 13,7995 CONTRACTS UP to an OI level of 462,572 DESPITE THE FALL IN THE PRICE OF GOLD ( $5.50 with YESTERDAY’S trading). THE BANKERS SUPPLIED THE NECESSARY SHORT PAPER AS LONGS STAMPEDED INTO THE GOLD ARENA YESTERDAY WE MAY HAVE ALSO WITNESSED THE EXERCISING OF LONG CALLS IN THE JUNE GOLD CONTRACT MONTH. We are now in the contract month of MAY and it is one of the POORER delivery months of the year. In this MAY delivery month we had A GAIN OF 2 contract(s) RISING TO 27. We had 2 notices filed yesterday so we gained 4 GOLD CONTRACTS OR AN ADDITIONAL 400 gold ounce will stand for delivery and no contracts were cash settled through the EFP route where they receive a cash bonus plus a future gold contract.
The next big active month is June/2017 and here the OI LOST 6951 contracts DOWN to 170,471. The non active July contract GAINED another 46 contracts to stand at 1087 contracts. The next big active month is August and here the OI gained 16,609 contracts up to 185,992.
We are catching up to last year’s huge open interest as on May 22 2016 we had at this exact time: 185,746 contracts of JUNE 2016 CONTRACTS OPEN.( compared to JUNE 2017: 170,471)
For the June 2016 contract month initially 48.189 tonnes stood for delivery. Eventually a huge 48.552 tonnes stood.
We had 3 notice(s) filed upon today for 300 oz
The non active June contract LOST 11 contracts to stand at 670. The next big active month will be July and here the OI LOST 4635 contracts DOWN to 146,453.
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)
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.
We had 8 notice(s) filed for 40,000 oz for the MAY 2017 contract
VOLUMES: for the gold comex
Today the estimated volume was 230,586 contracts which is good
Yesterday’s confirmed volume was 341,064 contracts which is excellent.
volumes on gold are STILL HIGHER THAN NORMAL!
|Withdrawals from Dealers Inventory in oz||nil|
|Withdrawals from Customer Inventory in oz||
|Deposits to the Dealer Inventory in oz||nil oz|
|Deposits to the Customer Inventory, in oz||
|No of oz served (contracts) today||
|No of oz to be served (notices)||
|Total monthly oz gold served (contracts) so far this month||
|Total accumulative withdrawals of gold from the Dealers inventory this month||NIL oz|
|Total accumulative withdrawal of gold from the Customer inventory this month||222,831.1 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 3 contract(s) of which 0 notices were stopped (received) by jPMorgan dealer and 0 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||
|No of oz served today (contracts)||
|No of oz to be served (notices)||
( 315,000 oz)
|Total monthly oz silver served (contracts)||4583 contracts (22,915,000 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||6,694,070.8 oz|
NPV for Sprott and Central Fund of Canada
Sprott’s hostile 3.1 billion bid to take over Central Fund of Canada
Sprott makes hostile $3.1 billion bid for Central Fund of Canada
Submitted by cpowell on Thu, 2017-03-09 01:19. Section: Daily Dispatches
From the Canadian Press
via Canadian Broadcasting Corp. News, Toronto
Wednesday, March 8, 2017
Toronto-based Sprott Inc. said Wednesday it’s making an all-share hostile takeover bid worth $3.1 billion US for rival bullion holder Central Fund of Canada Ltd.
The money-management firm has filed an application with the Court of Queen’s Bench of Alberta seeking to allow shareholders of Calgary-based Central Fund to swap their shares for ones in a newly-formed trust that would be substantially similar to Sprott’s existing precious metal holding entities.
The company is going through the courts after its efforts to strike a friendly deal were rebuffed by the Spicer family that controls Central Fund, said Sprott spokesman Glen Williams.
“They weren’t interested in having those discussions,” Williams said.
Sprott is using the courts to try to give holders of the 252 million non-voting class A shares a say in takeover bids, which Central Fund explicitly states they have no right to participate in. That voting right is reserved for the 40,000 common shares outstanding, which the family of J.C. Stefan Spicer, chairman and CEO of Central Fund, control.
If successful through the courts, Sprott would then need the support of two-thirds of shareholder votes to close the takeover deal, but there’s no guarantee they will make it that far.
“It is unusual to go this route,” said Williams. “There’s no specific precedent where this has worked.”
Sprott did have success last year in taking over Central GoldTrust, a similar fund that was controlled by the Spicer family, after securing support from more than 96 percent of shareholder votes cast.
The firm says Central Fund’s shares are trading at a discount to net asset value and a takeover by Sprott could unlock US$304 million in shareholder value.
Central Fund did not have any immediate comment on the unsolicited offer. Williams said Sprott had not yet heard from Central Fund on the proposal but that some shareholders had already contacted them to voice their support.
Sprott’s existing precious metal holding companies are designed to allow investors to own gold and other metals without having to worry about taking care of the physical bullion.
And now the Gold inventory at the GLD
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
May 16./ no change in the GLD inventory/inventory rests at 851.89 tonnes
May 15/no change in the GLD inventory/inventory rests at 851.89 tonnes
May 12/no changes in GLD/inventory rests at 851.89 tonnes
may 11/no changes in GLD inventory/inventory rests at 851.89 tonnes
May 10/no changes in GLD inventory/inventory rests at 851.89 tonnes/
May 9/a withdrawal of 1.19 tonnes from the GLD/Inventory rests tonight at 851.89 tonnes
May 8/no change in inventory at the GLD/Inventory rests at 853.08 tonnes
May 5/no changes in inventory at the GLD/Inventory rests at 853.08 tonnes
May 4/A tiny change in inventory at the GLD /a withdrawal of .28 tonnes to pay for fees/inventory rests at 853.08 tonnes
May 3/no change in inventory at the GLD/Inventory rest at 853.36 tonnes
May 2/no change in inventory at the GLD/Inventory rests at 853.36 tonnes
May 1/ no changes in inventory at the GLD/inventory rests at 853.36 tonnes
April 28/no changes in inventory at the GLD/Inventory rests at 853.36 tonnes
April 27/a small withdrawal of .89 tonnes/Inventory is now at 853.36 tonnes
APRIL 26/we had no changes at the GLD/Inventory rests at 854.25 tonnes
April 25/2017/A WITHDRAWAL OF 5.92 TONNES OF GOLD FROM THE GLD/INVENTORY RESTS AT 854.25 TONNES
April 24/a deposit of 1.48 tonnes of gold into the GLD/inventory rests at 860.17 tonnes
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
Now the SLV Inventory
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/
May 16./we had a huge addition of 1.416 million oz of silver into the SLV/inventory rests at 342.395 million oz
May 15/no changes in silver inventory/inventory rests at 340.979 million oz/
May 12/a huge change in silver: a deposit of 2.369 million oz/inventory rests at 340.979 million oz
May 11/no changes in silver inventory at the SLV/Inventory rests at 338.610 million oz
May 10/ a gigantic 3.833 million oz of silver added to the SLV and this occurred with the constant whacking of silver for the past 17 trading sessions/inventory rests at 338.610 million oz
may 9Again, no movement of inventory at the SLV. Inventory rests at 334.777 million oz
May 8/no change in silver inventory at the SLV/inventory rests at 334.777 million oz/
May 5/Strange!! no change in silver inventory at the SLV/Inventory rests tonight at 334.777 million oz
May 4/a very tiny withdrawal of 144,000 oz to pay for fees/inventory rests tonight at 334.777 million oz/
May 3/strange!! with the drop in price of silver we had no change in inventory at the SLV/inventory rests at 334.921 million oz
May 2/extremely strange again/a huge 3.502 million oz deposit into the SLV despite silver being in the toilet for the past several trading days.Inventory 334.921 million oz
may 1/extremely strange/with silver being walloped these past several days, the inventory rises again by a huge 1.136 million oz/(maybe someone can explain this phenomena??)
April 28/Strange again!! no change in inventory at the SLV/Inventory remains at 330.283 million oz (no liquidation with a drop in silver price??)
April 27.2017/Strange!! no change in inventory at the SLV/Inventory remains at 330.283 million oz (no liquidation???)
APRIL 26/2017/another huge deposit of 2.934 million oz into the SLV/Inventory rests at 330.283 million oz
April 25/a huge deposit of 1.98 million of into inventory/inventory rests at 327.349 million oz/
April 24/no changes in inventory at the SLV/Inventory rests at 325.361 million oz/
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