Silver Retreats As Gold Down Over $15
Silver Retreats As Gold Down Over $15 – Harvey Organ
GOLD: $1331.55 DOWN $15.05
Silver: $17.84 DOWN 19 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: $1342.23 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1337.40
PREMIUM FIRST FIX: $4.83
SECOND SHANGHAI GOLD FIX: $1339.31
NY GOLD PRICE AT THE EXACT SAME TIME: $1336.40
Premium of Shanghai 2nd fix/NY:$2.91
LONDON FIRST GOLD FIX: 5:30 am est $1338.75
NY PRICING AT THE EXACT SAME TIME: $1338.60
LONDON SECOND GOLD FIX 10 AM: $1334.20
NY PRICING AT THE EXACT SAME TIME. 1334.50
For comex gold:
NOTICES FILINGS TODAY FOR SEPT CONTRACT MONTH: 0 NOTICE(S) FOR 0 OZ.
TOTAL NOTICES SO FAR: 51 FOR 5100 OZ (0.1586 TONNES)
388 NOTICES FILED TODAY FOR
Total number of notices filed so far this month: 4,476 for 22,380,000 oz
The hurricanes Harvey and Irma have been deadly to the housing sector in the Texas market and Florida and no doubt we will have problems in Charleston. Hundred’s of thousands of homes have been destroyed and must be replaced. The problem is that 85% of the home owners are not insured. Loans from FEMA will not help as the consumer is already maxed out.
As for gold/silver, the bankers are seeing a huge OI in gold but it is silver that is bothering them. In London, we now have backwardation Sept over December which should give you the comfort that physical silver is scarce over there. On this side of the pond, we again have an increase in physical silver standing at the comex.
Let us have a look at the data for today
In silver, the total open interest ROSE BY STEADY 1189 contracts from 187,152 UP TO 188,341 WITH THE TINY SIZED DROP IN PRICE THAT SILVER UNDERTOOK IN YESTERDAY’S TRADING (DOWN 1 CENT(S). AFTER THURSDAY’S FAILED FLASH CRASH, MORE NEWBIE SILVER LONGS BECAME EMBOLDENED ON FRIDAY TO TAKE ON THE BANKERS. THE BANKERS HOWEVER DID NOT WANT TO SEE SILVER’S PRICE BREAK AWAY FROM THEM SO AGAIN, ONCE LONDON WAS PUT TO BED, ORCHESTRATED FLASH CRASH AND THEY CONTINUED THE ASSAULT WITH ANOTHER FLASH CRASH AT 6:10 EST SUNDAY NIGHT
RESULT: A GOOD RISE IN OI COMEX DESPITE THE 1 CENT PRICE LOSS.
In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.941 BILLION TO BE EXACT or 135% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 388 NOTICE(S) FOR 1,940,000 OZ OF SILVER
In gold, the open interest FELL BY A MODEST 2137 CONTRACTS DESPITE THE SMALL GAIN in price of gold ($1.10 GAIN ON FRIDAY). The new OI for the gold complex rests at 577,444.
AGAIN, THE NUMBER OF NEWBIE SPECS ENTERING THE GOLD ARENA INCREASES WITH EACH PASSING DAY, AND OUR COMMERCIALS AGAIN SUPPLYING THE NECESSARY PAPER. ONCE LONDON (AND CHINA) WERE PUT TO BED, THE BANKERS FLASH CRASHED AGAIN ON FRIDAY WHICH HAD NO REAL EFFECT. THAT IS WHY THEY ORCHESTRATED ANOTHER FLASH CRASH SUNDAY NIGHT/MONDAY MORNING.
Result: A MODEST SIZED LOSS IN OI DESPITE THE RISE IN PRICE IN GOLD ($1.15). THE COMMERCIALS SUPPLIED THE NECESSARY SHORT PAPER. MORE NEWBIE LONGS ENTERED THE COMEX CASINO WILLING TO TAKE ON THE BANKERS. ONCE THE PHYSICAL TIME ZONE WAS OVER, ANOTHER FLASH CRASH WAS INITIATED WITH LITTLE EFFECT. THE BANKERS ORCHESTRATED ANOTHER FLASH CARASH ON MONDAY AS THEIR CRIMINAL ACTIVITY INTENSIFIES.
we had: 0 notice(s) filed upon for NIL oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
Tonight , we had a huge change in gold inventory: a withdrawal of 2.37 tonnes and no doubt that this paper gold was used in the raid today.
Inventory rests tonight: 834.50 tonnes
Today: no change in inventory.
INVENTORY RESTS AT 327.088 MILLION OZ
Let us head over to the comex:
The total gold comex open interest FELL BY A MODEST 2137 CONTRACTS DOWN to an OI level of 577,444 DESPITE THE SMALL SIZED GAIN IN THE PRICE OF GOLD ($1.10 GAIN IN FRIDAY’S trading). On Friday, more newbie longs entered the casino, oblivious to the high OI in place. These specs seem emboldened to take on the bankers who will supply the necessary paper until their dying day. Once London was put to bed, the bankers orchestrated another flash crash which ended in failure as the bankers wanted a bigger fall in price and their wish for more gold leaves to fall was roundly defeated. THE BANKERS PERSISTENCE IN TRYING TO KNOCK OPEN INTEREST DOWN, PROCEEDED WITH ANOTHER FLASH CRASH SUNDAY NIGHT/MONDAY MORNING.
Result: a MODEST SIZED open interest DECREASE with an SMALL sized RISE in the price of gold.
The new non active September contract month saw it’s OI FALL BY 4 contracts DOWN to 828. We had 0 notices filed on FRIDAY so we LOST 4 contracts or an additional 400 oz will NOT stand AND 4 EFP’s WERE ISSUED which entitles them to a fiat bonus plus a deliverable contract on a different exchange and most likely that would be London. These are private deals so we do not get to see the makeup of these deals only the number of EFP’s issued.
The next active contract month is Oct and here we saw a LOSS of 2361 contracts DOWN to 42,789.
The November contract saw A GAIN OF 70 contracts UP to 257.
The very big active December contract month saw it’s OI LOSS OF 2151 contracts DOWN to 454,725.
We had 0 notice(s) filed upon today for NIL oz