TEN BILLION DOLLARS WORTH OF PAPER GOLD
Gold closed at $1223.50 down $42.00
silver closed at $17.36: down $1.35
Access market prices:
Early in the session, the crooks supplied 10 billion dollars worth of gold contracts and that was all that was necessary to implode gold and silver today. The volumes were immense. ( see below)
THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON.
The Shanghai fix is at 10:15 pm est and 2:15 am est
The fix for London is at 5:30 am est (first fix) and 10 am est (second fix)
Thus Shanghai’s second fix corresponds to 195 minutes before London’s first fix.
And now the fix recordings:
Shanghai morning fix Nov 11 (10:15 pm est last night): $ 1265.29
NY ACCESS PRICE: $1260.00 (AT THE EXACT SAME TIME)
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ 1267.47
NY ACCESS PRICE: 1260.60 (AT THE EXACT SAME TIME/2:15 am)
HUGE SPREAD TODAY!! 7.00 dollars
London Fix: Nov 11: 5:30 am est: $1255.65 (NY: same time: $1254.40 5:30AM)???
London Second fix Nov 10: 11 am est: $1236.45 (NY same time: $1238.15, 10 AM)
It seems that Shanghai pricing is higher than the other two , (NY and London). The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price. This should drain the comex.
Also why would mining companies hand in their gold to the comex and receive constantly lower prices. They would be open to lawsuits if they knowingly continue to supply the comex despite the fact that they could be receiving higher prices in Shanghai.
Let us head over to the comex:
The total gold comex open interest FELL by 2,430 CONTRACTS to an OI level of 521,731 with the continual pummeling in the price of gold as it EVENTUALLY FELL $7.10 with YESTERDAY’S roller coast trading. In the front month of November we had 36 notices standing for a GAIN of 11 contracts. We had 6 notices served yesterday so we GAINED 5 contracts or 500 ADDITIONAL oz will stand for delivery in November. The next contract month and the biggest of the year is December and here this month showed a decrease of 19,833 contracts down to 298,329. The December contract month is still highly elevated compared to a year ago. On Wednesday Nov 11/2015 comex reading day, we had a total of 226,262 contracts standing ( a loss of 10,719 contracts from Nov 10/2015) It certainly emphasizes the huge demand for physical gold. THIS SHOULD EXPLAIN TO YOU WHY THE BANKERS ARE CONSTANTLY WHACKING OF GOLD (AND SILVER): THE HIGH OI FOR DECEMBER AND THE HIGH PROBABILITY THAT MANY WILL TAKE DELIVERY.
Today, we had 19 notice(s) filed for 1900 oz of gold.
And now for the wild silver comex results. Total silver OI FELL by 858 contracts from 188,048 DOWN TO 187,190 despite the fact that the price of silver ROSE BY 36 cents with yesterday’s roller coaster trading. We are moving further from the all time record high for silver open interest set on Wednesday August 3/2016: (224,540). The front month of November had an OI of 94 and thus a gain of 0 contracts. We had 0 notices filed yesterday so we neither gained nor lost any silver ounces standing for delivery. The next major delivery month is December and here it FELL BY 5,240 contracts DOWN to 102,373. The December contract month is also highly elevated compared to a year ago. On Nov 11/2015 reporting day, we had a level of 83,836 contracts having lost 8,142 contracts on the day).
In silver had 0 notices filed for nil oz