Gold & Silver Rise Slightly for the Day
Gold & Silver Rise Slightly for the Day by Harvey Organ
GOLD: $1289.00 UP $3.35
Silver: $17.07 UP 9 CENTS
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: $1290.86 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1283.95
PREMIUM FIRST FIX: $6.91
SECOND SHANGHAI GOLD FIX: $1292.59
NY GOLD PRICE AT THE EXACT SAME TIME: $1285.60
Premium of Shanghai 2nd fix/NY:$6.99
LONDON FIRST GOLD FIX: 5:30 am est $1285.10
NY PRICING AT THE EXACT SAME TIME: $1285.90
LONDON SECOND GOLD FIX 10 AM: $1286.65
NY PRICING AT THE EXACT SAME TIME. $1287.65???
For comex gold:
NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 3 NOTICE(S) FOR 300 OZ.
TOTAL NOTICES SO FAR: 4584 FOR 458,400 OZ (14.258 TONNES)
15 NOTICES FILED TODAY FOR
Total number of notices filed so far this month: 1104 for 5,520,000 oz
As I have mentioned we are in options expiry week and you should expect pressure on gold/silver for the next 7 trading days. Gold and silver got a break today as Trump demanded his wall. If he does not get the secured funding for the wall, he will shut down government as there will not be a signed budget agreement for 2018. The USA has only 86 billion dollars left in the kitty and they burn around 3 billion per day. So they may run out by Sept 22 or Sept 23. Should be a very interesting September.
Let us have a look at the data for today
In silver, the total open interest FELL by only 1400 contracts from 188,627 down to 187,227 with THE DROP IN PRICE THAT SILVER UNDERTOOK WITH YESTERDAY’S TRADING (DOWN 3 CENTS). THE LOSS IN OI IS SMALLER IN COMPARISON TO THE LOSS IN OI IN GOLD AND THE CONSTANT TORMENT CAUSED BY OUR BANKERS. THE BANKERS INITIATED THE PRICE DROP YESTERDAY WITH PAPER SHORTS AND THIS CAUSED SOME OF OUR NEWBIE SPECS TO EXIT. BUT GENERALLY THE ENTIRE SILVER COMPLEX REMAINS CALM
RESULT: A SLIGHTLY LOWER OI WITH A LOWER PRICE.
In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.936 BILLION TO BE EXACT or 134% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT MAY MONTH/ THEY FILED: 15 NOTICE(S) FOR 75,000 OZ OF SILVER
In gold, the open interest FELL BY A CONSIDERABLE 5,386 CONTRACTS WITH THE FALL in price of gold ($5.20 LOSS YESTERDAY .). The new OI for the gold complex rests at 500,443. THE BANKERS INITIATED A RAID YESTERDAY AS THEY INITIALLY SUPPLIED THE SHORT PAPER TO LOWER THE GOLD PRICE. SOME OF OUR NEWBIE SPECS EXITED THE GOLD ARENA AND THE BANKERS COVERED A TINY PORTION OF THEIR SHORTS.
Result: A LOSS IN OI with LOSS IN PRICE IN GOLD.
we had: 3 notice(s) filed upon for 300 oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
Today, no changes in gold inventory:
Inventory rests tonight: 799.29 tonnes
IN THE LAST 28 TRADING DAYS: GLD SHEDS 37.68 TONNES YET GOLD IS HIGHER BY $56.50 .
Today: WE HAD NO CHANGES IN SILVER INVENTORY TONIGHT:
INVENTORY RESTS AT 334.407 MILLION OZ
Let us head over to the comex:
The total gold comex open interest FELL BY CONSIDERABLE 5,386 CONTRACTS DOWN to an OI level of 500,443 WITH THE GOOD SIZED FALL IN THE PRICE OF GOLD ($5.20 with YESTERDAY’S trading).This time the bankers did supply the necessary gold short paper to initiate the raid. Newbie longs got caught up in this continued shenanigans and were forced out probably through stop losses. The bankers relied on ASSISTANCE from their HFT friends which helped the bankers cover a tiny portion of their shortfall.
Result: lower open interest and a bigger fall in the price of gold.
We are now in the contract month of August and it is the 3rd best of the delivery months after December and June.
The active August contract LOST 93 contract(s) to stand at 739 contracts. We had 0 notices filed on YESTERDAY so we LOST 93 contracts or an additional 9300 oz will NOT stand at the comex and 93 EFP’s were issued which entitles the long holder to a fiat bonus plus a futures contract and most probably that would be a London based forward.
The non active September contract month saw it’s OI LOSE 49 contracts DOWN to 1315.
The next active contract month is Oct and here we saw a LOSS of 10 contracts DOWN to 52,180.
The very big active December contract month saw it’s OI LOSE 5394 contracts DOWN to 390,087.
We had 3 notice(s) filed upon today for 300 oz
For those keeping score: in the upcoming front delivery month of August:
LAST YEAR WE HAD A MONSTROUS 44.7 TONNES OF GOLD INITIALLY. BY THE CONCLUSION OF THE AUGUST CONTRACT MONTH 44.358 TONNES STOOD FOR DELIVERY.