by Harvey Organ, Harvey Organ Blog:

MINOR RESPONSES FROM BOTH CHINA AND RUSSIA/GOLD UP $2.80 TO $1347.90/SILVER UP 7 CENTS TO $16.68/US HAS DECIDED NOT TO WITHDRAW ITS TROOPS FROM SYRIA/USA HOLDING A MASSIVE DRILL OF 4,000 TROOPS JUST OUTSIDE SYRIA IN AQABA/MORE SWAMP STORIES

GOLD: $1347.90 UP $ 2.80 (COMEX TO COMEX CLOSINGS)

Silver: $16.68 UP 7 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1346.00

silver: $16.68

For comex gold:

APRIL/

NUMBER OF NOTICES FILED TODAY FOR APRIL CONTRACT:3 NOTICE(S) FOR 300 OZ.
TOTAL NOTICES SO FAR 663 FOR 66300 OZ (2.062 tonnes)

THE COMEX IS OUT OF GOLD

For silver:

APRIL

120 NOTICE(S) FILED TODAY FOR
600,000 OZ/
Total number of notices filed so far this month: 264 for 1,320,000 oz

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Bitcoin: BID $8026/OFFER $8129: up $180(morning)
Bitcoin: BID/ $7937/offer 8037: up $88 (CLOSING/5 PM)

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Let us have a look at the data for today

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In silver, the total OPEN INTEREST SURPRISINGLY FELL AGAIN BY A CONSIDERABLE 2350 CONTRACTS FROM 220,167 FALLING TO 217,817 DESPITE FRIDAY’S 17 CENT RISE IN SILVER PRICING. . WE AGAIN HAD CONSIDERABLE COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD A SMALL SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP : 693 EFP’S FOR MAY AND 75 FOR JULY AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE OF 768 CONTRACTS. WITH THE TRANSFER OF 768 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 768 EFP CONTRACTS TRANSLATES INTO 3.84 MILLION OZ ACCOMPANYING THE RISE IN SILVER PRICE 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:

32,982 CONTRACTS (FOR 11 TRADING DAYS TOTAL 32,982 CONTRACTS) OR 164.910 MILLION OZ: AVERAGE PER DAY: 2,998 CONTRACTS OR 14.991 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 164.910 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 23.55% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 883.395 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 CONSIDERABLE SIZED LOSS IN COMEX OI SILVER COMEX OF 2350 DESPITE THE 17 CENT GAIN IN SILVER PRICE. WE MUST HAVE HAD SOME SHORTCOVERING BY THE BANKERS AS NOT ALL OF THE LOST COMEX OPEN INTEREST LANDED IN LONDON AS FORWARDS. THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 768 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 693 EFP’S FOR THE MONTH OF MAY AND 75 EFP CONTRACTS FOR JULY, WERE ISSUED FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE LOST 1582 OI CONTRACTS ON THE TWO EXCHANGES: i.e. 768 open interest contracts headed for London (EFP’s) TOGETHER WITH AN DECREASE OF 2350 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE RISE IN PRICE OF SILVER OF 17 CENTS AND A CLOSING PRICE OF $16.67 WITH RESPECT TO FRIDAY’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 WELL OVER 1 BILLION oz i.e. 1.089 BILLION TO BE EXACT or 156% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT APRIL MONTH/ THEY FILED: 120 NOTICE(S) FOR 600,000 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 LOW PRICE OF $16.51 ON 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 RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018
HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION
AND YET 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). IT ALSO LOOKS LIKE BANKER CAPITULATION IN SILVER AS THEY STRUGGLE TO REMOVE SOME OF THEIR HUGE OBLIGATIONS.

In gold, the open interest FELL BY AN HUGE SIZED 7,572 CONTRACTS DOWN TO 506,429 DESPITE THE GOOD SIZED GAIN IN PRICE/FRIDAY’S TRADING ( RISE OF $6.15). WE ARE NOW IN THE ACTIVE DELIVERY MONTH OF APRIL. THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 10,403 CONTRACTS : JUNE SAW THE ISSUANCE OF 10,403 CONTRACTS , MAY SAW THE ISSUANCE OF 0 CONTRACTS AND ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 506,429. 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 SIZED OI GAIN IN CONTRACTS ON THE TWO EXCHANGES 7572 OI CONTRACTS DECREASED AT THE COMEX AND AN STRONG SIZED 10,403 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI GAIN: 2831 CONTRACTS OR 283100 OZ =8.805 TONNES.

FRIDAY, WE HAD 16,673 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF APRIL : 121,191 CONTRACTS OR 12,119,100 OZ OR 376.95 TONNES (11 TRADING DAYS AND THUS AVERAGING: 11,017 EFP CONTRACTS PER TRADING DAY OR 1,107,000 OZ/ TRADING DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : SO FAR THIS MONTH IN 112 TRADING DAYS IN TONNES: 376.95 TONNES

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

THUS EFP TRANSFERS REPRESENTS 376.95/2550 x 100% TONNES = 14.78% 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: 2,421.42 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 HUGE SIZED DECREASE IN OI AT THE COMEX OF 7,572 DESPITE THE RISE IN PRICE // GOLD TRADING YESTERDAY ($6.15 GAIN). HOWEVER, WE HAD A STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 10,403 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 10,403 EFP CONTRACTS ISSUED, WE HAD A GOOD SIZED NET GAIN OF 2831 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:

10,403 CONTRACTS MOVE TO LONDON AND 7,572 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 8.805 TONNES).

we had: 3 notice(s) filed upon for 300 oz of gold at the comex.

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

GLD

WITH GOLD UP $2.80 : WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/

Inventory rests tonight: 865.89 tonnes.

SLV/

WITH SILVER UP 7 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 2350 CONTRACTS from 220,167 DOWN TO 217,817 (AND AWAY FROM THE NEW COMEX RECORD SET YESTERDAY/APRIL 9/2017). THE PREVIOUS RECORD OTHER THAN WAS ESTABLISHED AT: 234,787, SET ON APRIL 21.2017 ALMOST ONE YEAR AGO. THE PRICE OF SILVER ON THAT DAY: $17.89.

THE RATHER LARGE COMEX LOSS OF 2350 CONTRACTS, OCCURRED DESPITE THE CONSIDERABLE RISE IN PRICE OF SILVER (17 CENTS//). THE COMEX OPEN INTEREST HAS FALLEN FOR 5 CONSECUTIVE DAYS. HOWEVER OUR BANKERS ALSO USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 693 EFP CONTRACTS FOR MAY (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM) AND 75 EFP’S FOR JULY AND ALL OTHER MONTHS. TOTAL EFP ISSUANCE: 768 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE OI LOSS AT THE COMEX OF 2350 CONTRACTS TO THE 3768 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A SMALL NET LOSS 1582 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES: 7.910 MILLION OZ!!! AND THIS OCCURRED WITH A RISE IN PRICE OF 17 CENTS???

RESULT: A LARGE SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE RISE IN SILVER PRICING / FRIDAY (17 CENTS/) . BUT WE ALSO HAD ANOTHER SMALL SIZED 768 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG SIZED AMOUNT OF SILVER OUNCES STANDING FOR APRIL, 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)FRIDAY MORNING/THURSDAY NIGHT: Shanghai closed DOWN 21.06 POINTS OR 0.66% /Hang Sang CLOSED DOWN 22.90 POINTS OR 0.07% / The Nikkei closed UP 118.46 POINTS OR 0.55%/Australia’s all ordinaires CLOSED UP .22% /Chinese yuan (ONSHORE) closed UP at 6.2805/Oil UP to 66.85 dollars per barrel for WTI and 71.70 for Brent. Stocks in Europe OPENED IN THE GREEN . ONSHORE YUAN CLOSED UP AT 6.2805 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.2760 /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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