Harvey Organ: Silver Has Just Set A New All-Time High In Open Interest

Harvey points out something very interesting about silver’s price action on the way to setting the all-time record in open interest. Here are the details…

AUGUST 22/GOLD UP $3.45 TO $1196.75 WITH SILVER DOWN ONE CENT TO $14.77: SILVER NOW HAS A RECORD 244,196 OPEN INTEREST BUT NOT PRICE: IT IS AT THE BOTTOM OF THE BARREL/TURKEY DID NOT SELL ANY OF ITS GOLD: THE WORLD GOLD COUNCIL HAD DECIDED THAT GOLD HELD BY ITS BANKS SHOULD NOT BE INCLUDED AS OFFICIAL RESERVES/EXISTING HOME SALES PLUMMET IN THE USA/BRAZILIAN REAL PLUMMETS TO 4.09 AND A DANGER FOR CONTAGION/A PLETHORA OF SWAMP STORIES FOR YOU TONIGHT/

GOLD: $1196.75  UP  $3.45 (COMEX TO COMEX CLOSINGS)

Silver:   $14.77    DOWN 1  CENT (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1195.60

silver: $14.75

 

 

 

NUMBER OF NOTICES FILED TODAY FOR AUGUST CONTRACT:  16 NOTICE(S) FOR 1600

TOTAL NOTICES SO FAR 2286 FOR 228,600 OZ (7.110 tonnes)

For silver:

AUGUST

0 NOTICE(S) FILED TODAY FOR

nil OZ/

Total number of notices filed so far this month: 1178 for 5,890,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

Bitcoin: BID $6604/OFFER $6689: UP  $175(morning)

Bitcoin: BID/ $6386/offer $6471: UP  $126  (CLOSING/5 PM)

end

First Shanghai gold fix comes at 10 pm est

The second Shanghai gold fix:  2:15 pm

First Shanghai gold fix gold: 10 pm est: $1201.54

NY price  at the same time:$1196.20

 

PREMIUM TO NY SPOT: $5.34

XX

Second gold fix early this morning: $ 1200.16

 

 

USA gold at the exact same time:$1194.15

 

PREMIUM TO NY SPOT:  $6.01

 

China is controlling the gold market

WE WILL NOT PROVIDE LONDON FIXES AS THEY ARE NOT ACCURATE AS TO WHAT IS GOING ON AT THE SAME TIME FRAME.

Let us have a look at the data for today

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

In silver, the total OPEN INTEREST ROSE BY A VERY STRONG 5583 CONTRACTS FROM 238,613 UP TO 244,196 ACCOMPANYING YESTERDAY’S 12 CENT RISE IN SILVER PRICING AT THE COMEX. WE HAVE GENERALLY BEEN WITNESSING A SLOW COMEX ACCUMULATION THESE PAST SEVERAL DAYS AND AFTER A ONE DAY HIATUS LAST WEEK, IT CONTINUES ONWARD.  YESTERDAY I WROTE: “TUESDAY’S OI SHOULD BE A WHOPPER”. ACTUALLY IT WAS TODAY AS WE NOW HAVE AN ALL TIME RECORD FOR COMEX OPEN INTEREST.

WE HAVE ALSO WITNESSED A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY(WELL OVER 30 MILLION OZ AT THE COMEX FOR JULY AND OVER 6 MILLION OZ FOR AUGUST) AS WELL AS CONSIDERABLE LONGS PACKING THEIR BAGS AND MIGRATING OVER TO LONDON IN GREATER NUMBERS IN THE FORM OF EFP’S.  WE WERE  NOTIFIED  THAT WE HAD A RATHER SMALL SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDONTHROUGH THE EFP:

571 EFP’S FOR SEPT. , 0 EFP’S FOR DECEMBER AND ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE: OF 664 CONTRACTS. WITH THE TRANSFER OF 571 CONTRACTS, WHAT THE CME IS STATING IS THAT THERE IS NO SILVER (OR GOLD) TO BE DELIVERED UPON AT THE COMEX AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24-48 HRS IN THE ISSUING OF EFP’S. THE 571 EFP CONTRACTS TRANSLATES INTO 2.885MILLION OZ AND ACCOMPANYING:

1.THE 12 CENT RISE IN SILVER PRICE AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR THE JUNE/2018 COMEX DELIVERY MONTH. (5.420 MILLION OZ)  30.370 MILLION OZ  STANDING FOR DELIVERY IN JULY, AND NOW 6.000 MILLION OZ FOR AUGUST.

 

ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF JULY:

20,716 CONTRACTS (FOR 16 TRADING DAYS TOTAL 20,716 CONTRACTS) OR 103.580 MILLION OZ: (AVERAGE PER DAY: 1294 CONTRACTS OR 6.473 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF JULY:  103.580 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 14.8% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)*  JUNE’S 345.43 MILLION OZ IS THE SECOND HIGHEST RECORDED ISSUANCE OF EFP’S AND IT FOLLOWED THE RECORD SET IN APRIL 2018 OF 385.75 MILLION OZ.

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:           1,933.24    MILLION OZ.

ACCUMULATION FOR JAN 2018:                                              236.879     MILLION OZ

ACCUMULATION FOR FEB 2018:                                               244.95        MILLION OZ

ACCUMULATION FOR MARCH 2018:                                        236.67         MILLION OZ

ACCUMULATION FOR APRIL 2018:                                           385.75         MILLION OZ

ACCUMULATION FOR MAY 2018:                                             210.05         MILLION OZ

ACCUMULATION FOR JUNE 2018:                                           345.43         MILLION OZ

ACCUMULATION FOR JULY 2018:                                            172.84          MILLION OZ

RESULT: WE HAD A VERY STRONG SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 5583 WITH THE 12 CENT RISE IN SILVER PRICING AT THE COMEX YESTERDAY. THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 571  CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. SPECULATORS CONTINUED THEIR INTEREST IN ATTACKING THE SILVER COMEX FOR PHYSICAL SILVER (SEE COMEX DATA) .

TODAY WE GAINED A VERY STRONG SIZED: 6154 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:

i.e 571 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH A INCREASE OF 5583  OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 12 CENT RISE IN PRICE OF SILVER  AND A CLOSING PRICE OF $14.78 WITH RESPECT TO YESTERDAY’S TRADING. YET WE HAD A GIGANTIC AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY IN THE BIG JULY DELIVERY MONTH OF SLIGHTLY OVER 30 MILLION OZ AND NOW IN AUGUST ANOTHER BIG 6.000 MILLION OZ IN A NON ACTIVE MONTH. IT SURE LOOKS LIKE ANOTHER FAILED BANKER SHORT COVERING EXERCISE AS BANKERS ARE SCRAMBLING TO COVER THEIR HUGE SHORTFALL IN SILVER.

In ounces AT THE COMEX, the OI is still represented by OVER 1 BILLION oz i.e. 1.221 MILLION OZ TO BE EXACT or 175% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT AUGUST MONTH/ THEY FILED AT THE COMEX: 0 NOTICE(S) FOR NIL OZ OF SILVER

IN SILVER,PRIOR TO TODAY, WE  SET THE NEW RECORD OF OPEN INTEREST AT 243,411 CONTRACTSON APRIL 9.2018.  AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $16.51.  

AND NOW WE RECORD FOR POSTERITY ANOTHER ALL TIME RECORD OPEN INTEREST AT THE COMEX OF 244,196 CONTRACTS AND AGAIN WHEN THE RECORD IS SET, THE PRICE OF SILVER IS LOWER THAT THE PREVIOUS ONE. TODAY’S LOW PRICE IS 14.78.

ON THE DEMAND SIDE WE HAVE THE FOLLOWING:

  1. HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY  (MARCH/2018: 27 MILLION OZ , APRIL/2018 : 2.485 MILLION OZ  MAY: 36.285 MILLION OZ ; JUNE/2018  (5.420 MILLION OZ) AND JULY 2018 AMOUNT STANDING: 30.370 MILLION OZ   ) AND NOW FOR AUGUST 6.000 MILLION OZ.
  2. HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018) AND NOW AGAIN TODAY:  244,196 CONTRACTS, AUGUST 22.2018 WITH A SILVER PRICE OF $14.78
  3. HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017
  4. RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 385.75 MILLIONOZ/  AND THE SECOND HIGHEST RECORDED EFP ISSUANCE JUNE 2018 345.43 MILLION OZ

AND YET, WITH THE EXTREMELY HIGH EFP ISSUANCE, WE HAVE A CONTINUAL LOW PRICE OF SILVER DESPITE THE ABOVE HUGE DEMAND.  TO ME THE ONLY ANSWER IS THAT WE HAVE SOVEREIGN  (CHINA) WHO IS ENDEAVOURING TO GOBBLE UP ALL AVAILABLE PHYSICAL SILVER NO MATTER WHERE, EXACTLY WHAT J.P.MORGAN IS DOING. AND IT IS MY BELIEF THAT J.P.MORGAN IS HOLDING ITS SILVER FOR ITS BENEFICIAL OWNER..THE USA GOVERNMENT WHO IN TURN IS HOLDING THAT SILVER FOR CHINA.(FOR A SILVER LOAN REPAYMENT).

IN GOLD, THE OPEN INTEREST ROSE BY A GOOD SIZED 2262 CONTRACTS UP TO 483,730 WITH THE STRONG GAIN IN THE COMEX GOLD PRICE/YESTERDAY’S TRADING (A RISE IN PRICE OF $5.75).  THE CME RELEASED THE DATA FOR EFP ISSUANCAND IT TOTALED A GOOD SIZED 6154 CONTRACTS:

AUGUST HAD AN ISSUANCE OF 0 CONTRACTS, OCTOBER HAD 0EFP’S ISSUED AND, DECEMBER HAD AN ISSUANCE OF 6471 CONTACTS  AND  ALL OTHER MONTHS ZERO.  The NEW COMEX OI for the gold complex rests at 483,730. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EFP DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. . EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER  AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.

IN ESSENCE WE HAVE AN A VERY STRONG OI GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 8733 CONTRACTS:  2262  OI CONTRACTS INCREASED AT THE COMEX AND 6471 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN:  8733 CONTRACTS OR 873,300 OZ = 27.16 TONNES.  AND ALL OF THIS HUGE DEMAND OCCURRED WITH A SMALLISH GAIN IN THE PRICE OF GOLD/ YESTERDAY TO THE TUNE OF $5.75.???..

 

 

YESTERDAY, WE HAD 4594 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JUNE : 113,424 CONTRACTS OR 11,324,000 OZ OR 352.22 TONNES (16 TRADING DAYS AND THUS AVERAGING: 7089 EFP CONTRACTS PER TRADING DAY OR 708,900 OZ/ TRADING DAY),,

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 16 TRADING DAYS IN  TONNES: 352.22 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES

THUS EFP TRANSFERS REPRESENTS 352.22/2550 x 100% TONNES =  13.81% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JULY ALONE.***

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:     5,071.51*  TONNES   *SURPASSED ANNUAL PROD’N

ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018:           653.22  TONNES (21 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR FEBRUARY 2018:         649.45 TONNES  (20 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR MARCH 2018:             741.89 TONNES  (22 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR APRIL 2018:                 713.84 TONNES  (21 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR MAY 2018:                   693.80 TONNES ( 22 TRADING DAYS)

ACCUMULATION OF GOLD EFP FOR JUNE 2018                      650.71 TONNES  (21 TRADING DAYS)

ACCUMULATION OF GOLD EFP FOR JULY 2018                       605.5 TONNES     (21 TRADING DAYS)

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS.  ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM.  IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE

Result: A GOOD SIZED INCREASE IN OI AT THE COMEX OF 2262 WITH THE GOOD GAIN IN PRICING ($5.75 THAT GOLD UNDERTOOK YESTERDAY) // .  WE ALSO HAD A  GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 6471 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED.   THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX.  I GUESS IT EXPLAINS THE HUGE ISSUANCE OF EFP’S…THERE IS HARDLY ANY GOLD PRESENT AT THE GOLD COMEX FOR DELIVERY PURPOSES. IF YOU TAKE INTO ACCOUNT THE 6471 EFP CONTRACTS ISSUED, WE HAD A VERY STRONG GAIN OF 8733 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES:

6471 CONTRACTS MOVE TO LONDON AND 2262 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 27.16 TONNES). ..AND THIS VERY STRONG  DEMAND OCCURRED WITH THE SMALLISH GAIN OF $5.75 IN YESTERDAY’S TRADING AT THE COMEX!!!. ????

 

we had: 16 notice(s) filed upon for 1600 oz of gold at the comex.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

With respect to our two criminal funds, the GLD and the SLV:

GLD…

WITH GOLD UP $3.45  TODAY: /

NOTE THE DIFFERENCE BETWEEN THE GLD AND SLV: THE CROOKS CAN RAID GOLD BECAUSE THEY DO HAVE SOME PHYSICAL.  THEY DO NOT RAID SILVER PROBABLY BECAUSE THERE IS NO REAL SILVER INVENTORIES BEHIND THEM.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

*