Gold & Silver Flat – Silver Standing for Delivery Rises 12th Consecutive Day
Gold & Silver Flat – Silver Standing for Delivery Rises 12th Consecutive Day by Harvey Organ
GOLD: $1254.00 UP $1.80
Silver: $16.64 DOWN 5 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: $1260.95 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1252.61
PREMIUM FIRST FIX: $8.34
SECOND SHANGHAI GOLD FIX: $1263.73
NY GOLD PRICE AT THE EXACT SAME TIME: $1253.80
Premium of Shanghai 2nd fix/NY:$9.93
LONDON FIRST GOLD FIX: 5:30 am est $1256.60
NY PRICING AT THE EXACT SAME TIME: $1255.90
LONDON SECOND GOLD FIX 10 AM: $1255.40
NY PRICING AT THE EXACT SAME TIME. $1254.50
For comex gold:
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 336 NOTICE(S) FOR 33,600 OZ.
TOTAL NOTICES SO FAR: 2544 FOR 254400 OZ (7.912 TONNES)
JUNE 10 NOTICES FILED TODAY FOR
Total number of notices filed so far this month: 911 for 4,555,000 oz
Over at the comex, the amount standing for the silver metal again rose in similar fashion to what we witnessed last month and also in April. It is up for the 12th consecutive trading day. We certainly have a determined entity trying to get its hands on whatever silver is available.
Last night we brought you the following story:
“The big news of the day came from China where the large conglomerate insurance giant Anbang chairman, Wu has just been detained by the authorities. Anbang’s revenue dropped by 90% this month and that has scared the living daylights out of investors. These guys were the huge funders of those shadow banking WMP’s and a default with Anbang will no doubt cause a systemic mess throughout China.”
Today’s Kyle Bass confirms that China’s debt is metastasizing. Also China lied about USA treasuries having an inflow. In reality it had a 21 billion outflow.
David Stockman also delivered a powerful commentary as he suggests in detail what is going to happen in September when the USA finally reaches the end of the game with respect to its debt ceiling crisis.
Let us have a look at the data for today
This is where we are heading: (JB Slear/Jim Sinclair)
According to JB Slear, this is what the future holds. Why should I write words. Get into the cellar as fast as you can!
In silver, the total open interest FELL BY ONLY 4,087 contract(s) DOWN to 198,306 WITH THE HUGE FALL IN PRICE OF SILVER THAT TOOK PLACE WITH YESTERDAY’S TRADING (DOWN 42 CENT(S). In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. .991 BILLION TO BE EXACT or 142% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 10 NOTICE(S) FOR 50,000 OZ OF SILVER
In gold, the total comex gold FELL BY monstrous 14,393 contracts WITH THE HUGE FALL IN PRICE OF GOLD ($20.40 with YESTERDAY’S TRADING). The total gold OI stands at 459,608 contracts.
we had 336 notice(s) filed upon for 33600 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: 853.68 tonnes
Today: no changes in silver inventory at the SLV
THE SLV Inventory rests at: 336.200 million oz
Let us head over to the comex:
The total gold comex open interest FELL BY A HUGE 14,393 CONTRACTS DOWN to an OI level of 459,608 WITH THE MONSTROUS FALL IN THE PRICE OF GOLD ($20.40 with YESTERDAY’S trading)., The bankers were probably expecting even more gold leaves to fall from the gold tree with the raid yesterday. 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 369 contract(s)FALLING TO 1204. We had 2 notices filed yesterday so we LOST 367 contracts or an additional 36,700 oz will NOT stand for delivery in this very active delivery month of June AND 367 CONTRACTS RECEIVED AN EFP CONTRACT WHICH ENTITLES THEM TO A FIAT BONUS PLUS A FUTURE GOLD CONTRACT/OR A LONG CALL OR MOST LIKELY A LONDON BASED FORWARD GOLD CONTRACT. THESE EFP’S ARE PRIVATE OFF COMEX TRANSACTIONS. THE STUBBORN LONGS WHO ARE REMAINING STOIC AT THE COMEX ARE SO FAR REFUSING THAT FIAT BONUS (OVER 11 TONNES STANDING)
Below is a little background on the EFP contracts initiated by our bankers:
We now know for certain that private EFP contracts are given by the bankers when faced with an upcoming active delivery month and they state that this is for emergency purposes only and that they do not have actual physical metal to deliver upon in the front month. We just do not know the makeup of that private deal. It is my contention that the longs in GOLD FOR INSTANCE at the end of MAY(for June contracts) were given a fiat bonus plus a long “in the money” call for a future July contract or a August FUTURE contract or MAYBE EVEN A LONDON BASED FORWARD GOLD CONTRACT. . and this is why the total comex open interest complex obliterates as we enter first day notice. So now everything makes sense: the obliteration of OI as we enter first day notice has not really occurred in the real sense but replaced with a future long contract call and/or an off -comex London based gold contract with some bonus money for their effort.
The non active July contract LOST 28 contracts to stand at 1880 contracts. The next big active month is August and here the OI LOST 16,251 contracts DOWN to 330,735, as the bankers trying to keep this month down to manageable size.
We had 336 notice(s) filed upon today for 33,600 oz