by Harvey Organ HUGE REMOVAL OF PHYSICAL GOLD AGAIN FROM THE COMEX/TED SPREADS AT USA BANKS CONTINUE TO RISE SIGNIFYING MISTRUST AMONGST BANKS/THEY DO NOT WANT TO LEND MONEY TO EACH OTHER/SHANGHAI DOWN AGAIN/ NIKKEI SLIGHTLY UP/REFUGEE CRISIS GETTING WORSE Good evening Ladies and Gentlemen: Here are the following closes for gold and silver today: Gold: $1102.80 up $4.90 (comex closing time) Silver $14.32 down 4 cents. In the access market 5:15 pm Gold $1105.20 Silver: $14.42 There are two major developments that we should be cognizant of: the huge removal of gold from the comex the rise in the TED spread (3 month interest rate charged to banks/3 month treasuries). A continual rise means banks are not trusting one another again. The last time this happened was in 2008. First, here is an outline of what will be discussed tonight: At the gold comex today we had a poor delivery day, registering 0 notices for nil ounces Silver saw 5 notices for 25,000 oz. Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 214.39 tonnes for a loss of 89 tonnes over that period. In silver, the open interest rose by 1677 contracts despite the fact that silver was down in price by 13 cents yesterday. Again, our banker friends tried to use the opportunity to cover as many silver shorts as they could and failed. The total silver OI now rests at 157,373 contracts In ounces, the OI is still represented by .787 billion oz or 112% of annual global silver production (ex Russia ex China). In silver we had 13 notices served upon for 65,000 oz. In gold, the total comex gold OI fell to 411,141 for a loss of 885 contracts. We had 0 notices filed for nil oz today. We had no changes in tonnage at the GLD, thus the inventory rests tonight at 678.18 tonnes. The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold. It sure looks like 670 tonnes will be the rock bottom inventory in GLD gold. It looks to me that China has taken the last amounts of physical gold from the GLD. I guess the only place left for China to receive physical gold will be the FRBNY and the comex. In silver, we had no change in silver inventory at the SLV/Inventory rests at 320.915 million oz. We have a few important stories to bring to your attention today… 1. Today, we had the open interest in silver rose by 1677 contracts up to 157,375 despite the fact that silver was down by 13 cents in price with respect to yesterday’s trading. The total OI for gold fell by 885 contracts to 411,141 contracts, despite the fact that gold was up by $4.40 yesterday. (report Harvey) 2.Gold trading overnight, Goldcore (/Mark OByrne) 3.China opens for trading: Last night 9:30 pm EST/9:30 am Shanghai time (zero hedge) 4. Chinese stocks drop considerably on poor data. The USA/JPY ramps up last night as speculators guess that the Bank of Japan will engage in more QE 5 USA/JPY ramps down when the B. of J governor states no more QE/ It is now up to the USA to ramp the USA/JPY which they did at 8 am (zero hedge) 6.Refugee crisis deepens as Hungary arrest people and Germany blocks their passage (zero hedge) 7. North Korean leader Kim Il un making noise again. (zero hedge) 8. A Panicky Brazil does a 180 degree turn and initiates austerity; proposes raising taxes and cutting workers to save money (zero hedge) 9.Oil related stories: 3 commentaries/zero hedge/Berman 10. USA stories/Trading of equities NY i) Industrial production disappoints ii) Empire (New York) manufacturing index falters badly iii retail sales terribly disappoints iv Business inventories constant and yet retail sales decline. Thus inventory/sales remains stubbornly high indicating trouble ahead. v) Hewlett Packward fires 10,000 employees. Business must be good. 11. Physical stories: i) Reg Howe delivers his first commentary in 4 years: ii)Dave Kranzler on the fraudulent data at the comex and how analysis is worthless to do iii The crooked JPMorgan is calling the bottom for the mining stocks. They have been decimated by the antics of the banks (Kip Keen/Mineweb) iv Bill Holter’s paper tonight is titled: ” The Ravages of War…the only way to win is not to play the game!” and well as other commentaries… Let us head over and see the comex results for today. The total gold comex open interest fell from 412,026 down to 411,141 for a loss of 885 contracts despite the fact that gold was up $4.40 with respect to yesterday’s trading. For the past two years, we have strangely witnessed two interesting developments with respect to the gold open interest: 1) total gold comex collapse in OI as we enter an active delivery month, and 2) a continual drop in the amount of gold standing in an active month, and today the latter continued with its decline as gold ounces standing rose. What is also interesting is that the LBMA gold is continually witnessing a 7.00 plus premium spot/next nearby month as gold is now in backwardation over there. We now enter the delivery month of September and here the OI fell by 3 contracts down to 107 . We had 0 notices filed yesterday so we lost 3 contracts or 300 additional oz will not stand for delivery in this non active month of September. The next active delivery month is October and here the OI fell by 706 contracts down to 22,118. The big December contract saw it’s OI fall by 868 contracts from 282,003 down to 281,135. The estimated volume on today (which is just comex sales during regular business hours of 8:20 until 1:30 pm est) was estimated at 92,857 which is poor. The confirmed volume yesterday (which includes the volume during regular business hours + access market sales the previous day was poor at 81,864 contracts. Today we had 0 notices filed for nil oz. And now for the wild silver comex results. Silver OI rose by 1677 contracts from 155,698 up to 157,375 despite the fact that silver was down by 13 cents with respect to yesterday’s price . As mentioned above we always have a huge contraction in the OI of an upcoming active precious metal month. The bankers continue to pull their hair out trying to extricate themselves from their silver mess (the continued high silver OI with it’s extremely low price, combined with the banker’s massive physical shortfall) as the world senses something is brewing in the silver arena (judging from the high volume every day at the comex). We are now in the active delivery month of September. Here the OI fell by 18 contracts to 445. We had 13 notices filed yesterday, so we lost 5 contracts or an additional 25,000 oz will not stand for delivery in this active delivery month of September. The big December contract saw its OI rise by 1169 contracts up to 122,121.The estimated volume today was estimated at 21,450 contracts (just comex sales during regular business hours) which is poor. The confirmed volume yesterday (regular plus access market) came in at 26,965 contracts which is poor in volume. We had 5 notices filed for 25,000 oz. September contract month: Initial standings September 15.2015 Continue Reading>>>

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