by Harvey Organ, Harvey Organ Blog:

PUTS THEIR QE PROGRAM IN JEOPARDY/DOW UP 428.90 POINTS/NASDAQ UP 143.96 POINTS/MARKETS REACT TO XI’S CONCILIATORY SPEECH WHICH WAS NOTHING BUT A REHASH WHAT WAS SAID IN DAVOS/RUSSIAN ROUBLE CRASHES AS THE SANCTIONS ARE HAVING A DEVASTATING EFFECT ON THE RUSSIAN ECONOMIC SCENE/EU MAY RAISE THEIR INTEREST RATE BY 20 BASIS POINTS AS THEY STOP QE AT THE END OF THIS YEAR/USA PPI RED HOT AND THIS IS A FORERUNNER OF INFLATION/PLETHORA OF SWAMP STORIES TODAY INCLUDING THE DAVID COHEN RAID BY THE FBI

GOLD: $1342.50 UP $5.25 (COMEX TO COMEX CLOSINGS)

Silver: $16.61 UP 8 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1339.60

silver: $16.57

For comex gold:

APRIL/

NUMBER OF NOTICES FILED TODAY FOR APRIL CONTRACT:0 NOTICE(S) FOR nil OZ.
TOTAL NOTICES SO FAR 657 FOR 65700 OZ (2.043 tonnes)

THE COMEX IS OUT OF GOLD

For silver:

APRIL

121 NOTICE(S) FILED TODAY FOR
605,000 OZ/
Total number of notices filed so far this month: 140 for 700,000 oz

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Bitcoin: BID $6684/OFFER $6784: down $38(morning)
Bitcoin: BID/ $6778/offer $6878: up $56 (CLOSING/5 PM)

end

Let us have a look at the data for today

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In silver, the total open interest SURPRISINGLY FELL BUT BY A HUGE 7,732 contracts from 243,411 FALLING TO 235,679 DESPITE YESTERDAY’S 12 CENT RISE IN SILVER PRICING. TODAY WE MOVED AWAY FROM THE NEW ALL TIME RECORD FOR SILVER OPEN INTEREST SET YESTERDAY. WE AGAIN HAD CONSIDERABLE COMEX LIQUIDATION. BUT DUE TO THE PRICE IN PRICE, WE MUST HAVE WITNESSED SOME COMEX SHORT COVERING AS THE BANKERS ARE QUITE CONCERNED WITH SILVER’S DIZZYING OPEN INTEREST HEIGHT. WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP : 2836 EFP’S FOR MAY AND ZERO FOR ALL OTHER MONTHS AND THUS TOTAL ISSUANCE OF 2836 CONTRACTS. WITH THE TRANSFER OF 2836 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 2836 CONTRACTS TRANSLATES INTO 14.180 MILLION OZ ON TOP OF THE FALL IN OPEN INTEREST IN SILVER AT THE COMEX AND THE STRONG AMOUNT OF SILVER OUNCES STANDING FOR APRIL COMEX DELIVERY.

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

15,561 CONTRACTS (FOR 7 TRADING DAYS TOTAL 15,561 CONTRACTS) OR 77.805 MILLION OZ: AVERAGE PER DAY: 2223 CONTRACTS OR 11,115 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 77.805 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 11.11% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 796.30 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

RESULT: WE HAD A HUGE SIZED LOSS IN COMEX OI SILVER COMEX OF 7732 WITH THE DESPITE THE 12 CENT RISE IN SILVER PRICE. WE MUST HAVE HAD CONSIDERABLE SHORTCOVERING BY THE BANKERS. WE ALSO HAD ANOTHER STRONG SIZED EFP ISSUANCE OF 2836 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 . FROM THE CME DATA 2836 EFP’S FOR THE MONTH OF MAY WERE ISSUED FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE LOST A CONSIDERABLE 4793 OI CONTRACTS ON THE TWO EXCHANGES: i.e. 2836 open interest contracts headed for London (EFP’s) TOGETHER WITH AN DECREASE OF 7732 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE RISE IN PRICE OF SILVER OF 12 CENTS AND A CLOSING PRICE OF $16.52 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A GOOD AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY IN THIS NON ACTIVE APRIL DELIVERY MONTH.

In ounces AT THE COMEX, the OI is still represented by just OVER 1 BILLION oz i.e. 1.179 BILLION TO BE EXACT or 168% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT APRIL MONTH/ THEY FILED: 121 NOTICE(S) FOR 605,000 OZ OF SILVER

IN SILVER, WE HAVE NOW SET THE NEW RECORD OF OPEN INTEREST AT 243,411 AND AGAIN THIS HAS BEEN SET WITH A LOWE PRICE OF $16.51 WITH TRADING YESTERDAY (APRIL 9.2018).

ON THE DEMAND SIDE WE HAVE THE FOLLOWING:

HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY (MARCH 27 MILLION OZ AND APRIL 1.8 MILLION OZ)
HUGE OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/
HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION
AND YET WE HAVE A CONTINUAL LOWE 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 FELL BY A FAIR SIZED 1213 CONTRACTS DOWN TO 493,869 DESPITE THE GOOD SIZED GAIN IN PRICE/YESTERDAY’S TRADING ( GAIN OF $4.05). WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF APRIL. THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 5634 CONTRACTS : JUNE SAW THE ISSUANCE OF 5634 CONTRACTS AND ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 493,869. 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. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE CONTINUE TO WITNESS A HUGE NUMBER OF EFP TRANSFERS TOGETHER WITH THE MASSIVE INCREASE IN GOLD COMEX OI TOGETHER WITH THE TOTAL AMOUNT OF GOLD OUNCES STANDING FOR FEBRUARY COMEX. 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 A GOOD OI GAIN IN CONTRACTS ON THE TWO EXCHANGES: 1213 OI CONTRACTS DECREASED AT THE COMEX AND A FAIR SIZED 5634 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI GAIN: 4421 CONTRACTS OR 442,100 OZ =13.750 TONNES

YESTERDAY, WE HAD 9917 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF APRIL : 67,176 CONTRACTS OR 6,717,600 OZ OR 208.94 TONNES (7 TRADING DAYS AND THUS AVERAGING: 9,596 EFP CONTRACTS PER TRADING DAY OR 959,600 OZ/ TRADING DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : SO FAR THIS MONTH IN 7 TRADING DAYS IN TONNES: 208.94 TONNES

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

THUS EFP TRANSFERS REPRESENTS 208.94/2550 x 100% TONNES = 8.19% OF GLOBAL ANNUAL PRODUCTION SO FAR IN MARCH ALONE.*** THE ACCUMULATION OF EFP CONTRACTS IS RISING PER MONTH.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 2253.42 TONNES

ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018: 653.22 TONNES

ACCUMULATION OF GOLD EFP’S FOR FEBRUARY 2018: 649.45 TONNES

ACCUMULATION OF GOLD EFP’S FOR MARCH 2018: 741.89 TONNES

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 SMALL SIZED DECREASE IN OI AT THE COMEX WITH THE GAIN IN PRICE IN GOLD TRADING YESTERDAY ($4.05 GAIN). WE HAD A VERY LARGE SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 5634 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX AND YET WE ALSO OBSERVED A HUGE DELIVERY MONTH FOR THE MONTH OF DECEMBER. 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 5634 EFP CONTRACTS ISSUED, WE HAD A GOOD NET GAIN IN OPEN INTEREST OF 4,421 contracts ON THE TWO EXCHANGES:

5634 CONTRACTS MOVE TO LONDON AND 1213 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 13.750 TONNES).

we had: 0 notice(s) filed upon for NIL oz of gold.

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

GLD

WITH GOLD UP $5.25 : WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/

Inventory rests tonight: 859.99 tonnes.

SLV/

WITH SILVER UP 8 CENTS TODAY: NO CHANGES/

/INVENTORY RESTS AT 320.196 MILLION OZ/

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First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver FELL BY A CONSIDERABLE 7,732 CONTRACTS from 243,411 DOWN TO 235,679 (AND AWAY FROM THE NEW COMEX RECORD SET YESTERDAY/APRIL 9/2017). THE PREVIOUS RECORD OTHER THAN WAS ESTABLISHED FRIDAY WAS: 234,787, SET ON APRIL 21.2017 ALMOST ONE YEAR AGO. THE PRICE OF SILVER ON THAT DAY: $17.89.

TODAY’S TRADING WITH THE RATHER LARGE COMEX LOSS OF CONTRACTS, SURPRISINGLY OCCURRED WITH THE RISE IN PRICE OF SILVER (12 CENTS//). THUS WE MUST HAVE HAD SOME CONSIDERABLE BANKER SHORT COVERING. OUR BANKERS ALSO USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 2836 EFP CONTRACTS FOR MAY (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM) AND 0 EFP’S FOR ALL OTHER MONTHS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. WE HAD AGAIN ZERO COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE OI LOSS AT THE COMEX OF 7732 CONTRACTS TO THE 2836 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A HUGE LOSS OF 4793 OPEN INTEREST CONTRACTS AND THAT NO DOUBT WAS OUR BANKER SHORTCOVERING. WE STILL HAVE A GOOD AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN APRIL (SEE BELOW). THE NET LESS IN OI TODAY IN OZ ON THE TWO EXCHANGES: 24.480 MILLION OZ!!!

RESULT: A LARGE SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE RISE IN SILVER PRICING / YESTERDAY (12 CENTS) . BUT WE ALSO HAD ANOTHER VERY GOOD SIZED 2836 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG SIZED AMOUNT OF SILVER OUNCES STANDING FOR MARCH, DEMAND FOR PHYSICAL SILVER INTENSIFIES AS WE WITNESS SEVERE BACKWARDATION IN SILVER IN LONDON.

(report Harvey)

.

2.a) The Shanghai and London gold fix report

(Harvey)

2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY: Bloomberg

3. ASIAN AFFAIRS
i)TUESDAY MORNING/MONDAY NIGHT: Shanghai closed UP 52.03 POINTS OR 1.66% /Hang Sang CLOSED UP 499.16 POINTS OR 1.65% / The Nikkei closed UP 166.74 POINTS OR 0.54%/Australia’s all ordinaires CLOSED UP .80% /Chinese yuan (ONSHORE) closed UP at 6.2934/Oil UP to 64.55 dollars per barrel for WTI and 69.78 for Brent. Stocks in Europe OPENED IN THE GREEN . ONSHORE YUAN CLOSED UP AT 6.2934 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.2912 /ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING MUCH STRONGER AGAINST THE DOLLAR /CHINA RETALIATES WITH TARIFFS/ TRUMP RESPONDS TO NEW TARIFFS AND IT NOW LOOKS LIKE A FULL TRADE WAR IS BEGINNING/

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