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CHINA GETS TOUGH ON HONG KONG AND THAT CAUSES ALARM BELLS THROUGHOUT THE GLOBE
by Harvey Organ, Harvey Organ Blog:
GOLD AND SILVER HOLD DESPITE THE RAID: GOLD UP $13.05 TO $1735.25//SILVER UP 22 CENTS TO $17.23//COMEX EXPIRY TUESDAY EVENING//CORONAVIRUS UPDATES FOR TODAY//CHINA GETS TOUGH ON HONG KONG AND THAT CAUSES ALARM BELLS THROUGHOUT THE GLOBE//IN THE USA HUGE WAVE OF DEFAULTS COMING//SWAMP STORIES FOR YOU TONIGHT
GOLD:$1735.25 UP $13.05 The quote is London spot price
Silver:$17.23 UP 22 CENTS (London spot closing price
COMEX OPTIONS EXPIRY TUESDAY MAY 26
OTC/LBMA OPTIONS EXPIRY FRIDAY MAY 29
The reason for the raid today is the comex expiry this coming Tuesday.
Expect gold/silver to be subdued in price until after first day notice.
Closing access prices: London spot
i)Gold : $1736.50 LONDON SPOT 4:30 pm
ii)SILVER: $17.23//LONDON SPOT 4:30 pm
CLOSING FUTURES PRICES: KEY MONTHS
MAY COMEX GOLD: XXX
JUNE GOLD: $1736.25 CLOSE 1.30 PM// SPREAD SPOT (LONDON) VS/FUTURE JUNE: $0.//PREMIUMS WENT UP AGAIN
CLOSING SILVER FUTURE MONTH
JULY: 1:30 PM: $17.65//1:30 PM //SPREAD SPOT LONDON VS FUTURE JULY: 42 CENTS PER OZ//
the gold market continues to be broken as future prices are much higher than spot prices. The comex is desperate to fix things but they have no available gold.
If one is to buy gold and or gold coins, the price is around $2800. usa per oz
and silver; $31.00 per oz//
LADIES AND GENTLEMEN: YOU ARE NOW WITNESSING FIRST HAND THE DIFFERENCE BETWEEN PAPER GOLD/SILVER AND THE REAL PHYSICAL STUFF!!
DO NOT PAY ANY ATTENTION TO WHAT THE CROOKS ARE DOING AT THE COMEX AND LONDON LBMA..PHYSICAL IS THE NAME OF THE GAME AND NOTHING ELSE
COMEX DATA
JPMorgan has been receiving gold with reckless abandon and sometimes supplying (stopping)
today RECEIVING: 34/440
EXCHANGE: COMEX
CONTRACT: MAY 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,720.500000000 USD
INTENT DATE: 05/21/2020 DELIVERY DATE: 05/26/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
072 C GOLDMAN 2
118 H MACQUARIE FUT 214
132 C SG AMERICAS 2
323 H HSBC 3
355 C CREDIT SUISSE 1
657 C MORGAN STANLEY 12 32
661 C JP MORGAN 34
685 C RJ OBRIEN 2
686 C INTL FCSTONE 6
690 C ABN AMRO 385 127
732 C RBC CAP MARKETS 1
737 C ADVANTAGE 30 13
800 C MAREX SPEC 7
878 C PHILLIP CAPITAL 3
905 C ADM 6
____________________________________________________________________________________________
TOTAL: 440 440
MONTH TO DATE: 10,262
NUMBER OF NOTICES FILED TODAY FOR MAY CONTRACT: 440 NOTICE(S) FOR 44,000 OZ (1.368 tonnes)
TOTAL NUMBER OF NOTICES FILED SO FAR: 10262 NOTICES FOR 1026200 OZ (31.912 TONNES)
FOR MAY
0 NOTICE(S) FILED TODAY FOR nil OZ/
total number of notices filed so far this month: 8910 for 44,550,000 oz
BITCOIN MORNING QUOTE $9157 UP 91
BITCOIN AFTERNOON QUOTE.: $9169 UP 103
GLD AND SLV INVENTORIES:
WITH GOLD UP $13.05 AND NO PHYSICAL TO BE FOUND ANYWHERE:
WITH ALL REFINERS CLOSED//MEXICO ORDERING ALL MINES SHUT: WHERE ARE THEY GETTING THE “PHYSICAL”?
A HUGE CHANGE IN GOLD INVENTORY AT THE GLD:
A DEPOSIT OF 3.93 TONNES OF GOLD INTO THE GLD///
GLD: 1,116.71 TONNES OF GOLD//
WITH SILVER UP 22 CENTS TODAY: AND WITH NO SILVER AROUND
A HUGE CHANGE IN SILVER INVENTORY AT THE SLV/// A WITHDRAWAL OF 1.864 MILLION OZ FROM THE SLV/
RESTING SLV INVENTORY TONIGHT:
SLV: 455.817 MILLION OZ./
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Let us have a look at the data for today
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IN SILVER THE COMEX OI ROSE BY A SMALL SIZED 231 CONTRACTS FROM 151,890 UP TO 155,485 AND CLOSER TO OUR NEW RECORD OF 244,710, (FEB 25/2020. THE SMALL SIZED GAIN IN OI OCCURRED DESPITE OUR VERY LARGE 50 CENT GAIN IN SILVER PRICING AT THE COMEX. IT SEEMS THAT THE GAIN IN COMEX OI IS DUE TO STRONG BANKER SHORT COVERING PLUS A STRONG EXCHANGE FOR PHYSICAL ISSUANCE, ZERO LONG LIQUIDATION, ACCOMPANYING A SMALL DECREASE IN SILVER OZ STANDING AT THE COMEX FOR MAY. WE HAD A NET GAIN IN OUR TWO EXCHANGES OF 1660 CONTRACTS (SEE CALCULATIONS BELOW).
WE HAVE ALSO WITNESSED A HUMONGOUS AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY AS WELL WE ARE WITNESSING 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 STRONG SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: MAY: 0 AND JULY: 1120 AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE 1120 CONTRACTS. WITH THE TRANSFER OF 1120 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 1120 EFP CONTRACTS TRANSLATES INTO 5.60 MILLION OZ ACCOMPANYING:
1.THE 50 CENT LOSS IN SILVER PRICE AT THE COMEX AND
2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR DELIVERY IN THE LAST 12 MONTHS:
JUNE/2018. (5.420 MILLION OZ);
FOR JULY: 30.370 MILLION OZ
FOR AUG., 6.065 MILLION OZ
FOR SEPT. 39.505 MILLION OZ S
FOR OCT.2.525 MILLION OZ.
FOR NOV: A HUGE 7.440 MILLION OZ STANDING AND
21.925 MILLION OZ FINALLY STAND FOR DECEMBER.
5.845 MILLION OZ STAND IN JANUARY.
2.955 MILLION OZ STANDING FOR FEBRUARY.:
27.120 MILLION OZ STANDING IN MARCH.
3.875 MILLION OZ STANDING FOR SILVER IN APRIL.
18.845 MILLION OZ STANDING FOR SILVER IN MAY.
2.660 MILLION OZ STANDING FOR SILVER IN JUNE//
22.605 MILLION OZ STANDING FOR JULY
10.025 MILLION OZ INITIAL STANDING IN AUGUST.
43.030 MILLION OZ INITIALLY STANDING IN SEPT. (HUGE)
7.32 MILLION OZ INITIALLY STANDING IN OCT
2.630 MILLION OZ STANDING FOR NOV.
20.970 MILLION OZ FINAL STANDING IN DEC
5.075 MILLION OZ FINAL STANDING IN JAN
1.480 MILLION OZ FINAL STANDING IN FEB
23.005 MILLION OZ FINAL STANDING FOR MAR
4.660 MILLION OZ FINAL STANDING FOR APRIL
45.290 MILLION OZ INITIALLY STANDING FOR MAY
THURSDAY, AGAIN OUR CROOKS USED COPIOUS PAPER IN ORDER TO LIQUIDATE SILVER’S PRICE…AND THEY WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL 50 CENTS).. AND, OUR OFFICIAL SECTOR/BANKERS WERE UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE ANY AMOUNT OF SILVER LONGS FROM THEIR POSITIONS. THE SMALL GAIN AT THE COMEX WAS ACCOMPANIED BY : i) A STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS 2) A SMALL LOSS IN SILVER OZ STANDING FOR MAY,3) CONSIDERABLE BANKER SHORT COVERING AND 4) ZERO LONG LIQUIDATION AS WE DID HAVE A NET GAIN OF 1351 CONTRACTS OR 6.755 MILLION OZ ON THE TWO EXCHANGES! YOU CAN BET THE FARM THAT OUR BANKER ARE DESPERATE TO LIQUIDATE THEIR HUGE SHORT POSITIONS IN SILVER
ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY /FOR MONTH OF MAY:
12,028 CONTRACTS (FOR 16 TRADING DAYS TOTAL 12,028 CONTRACTS) OR 60.140 MILLION OZ: (AVERAGE PER DAY: 751 CONTRACTS OR 3.758 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF MAY: 60.14 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 8.59% 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 2020 TO DATE SILVER EFP’S: 1,048.98 MILLION OZ.
JANUARY 2020 EFP TOTALS SO FAR: 181.61 MILLION OZ
FEB 2020 EFP’S TOTAL : …… 259.600 MILLION OZ
MARCH EFP’S ….. 452.280 MILLION OZ //TOTALS//AND A NEW RECORD FOR THE MONTH)
APRIL EFP 95.355 MILLION OZ. (EX. FOR PHYSICALS BECOMING A LOT LESS)
MAY EFP SO FAR: 60.14 MILLION OZ
EXCHANGE FOR PHYSICAL ISSUANCE FOR THE PAST 30 DAYS IS A LOT LESS. NO DOUBT THAT THE COST TO CARRY THESE THINGS HAS EXPLODED AND AS SUCH CANNOT BE DONE AS FREQUENTLY AS BEFORE.
RESULT: WE HAD A TINY SIZED INCREASE IN COMEX OI SILVER COMEX CONTRACTS OF 231, DESPITE OUR CONSIDERABLE 50 CENT LOSS IN SILVER PRICING AT THE COMEX ///THURSDAY… THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 1120 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
TODAY WE GAINED A STRONG SIZED OI CONTRACTS ON THE TWO EXCHANGES: 1351 CONTRACTS (DESPITE OUR 50 CENT LOSS IN PRICE)
THE TALLY//EXCHANGE FOR PHYSICALS
i.e 1120 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH A SMALL SIZED INCREASE OF 231 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A HUGE 50 CENT LOSS IN PRICE OF SILVER/AND A CLOSING PRICE OF $17.02 // THURSDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY.
In ounces AT THE COMEX, the OI is still represented by JUST UNDER 1 BILLION oz i.e. 0.7050 BILLION OZ TO BE EXACT or 100.7% of annual global silver production (ex Russia & ex China).
FOR THE NEW MAR DELIVERY MONTH/ THEY FILED AT THE COMEX: 0 NOTICE(S) FOR NIL OZ OF SILVER.
IN SILVER,PRIOR TO TODAY, WE SET THE NEW COMEX RECORD OF OPEN INTEREST AT 244,196 CONTRACTS ON AUG 22.2018. AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $14.70//TODAY’S RECORD OF 244,705 IS SET WITH A PRICE OF: 18.91 (FEB 25/2020)
.
ON THE DEMAND SIDE WE HAVE THE FOLLOWING:
- 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) , JULY 2018 FINAL AMOUNT STANDING: 30.370 MILLION OZ ) FOR AUGUST 6.065 MILLION OZ. , SEPT: A HUGE 39.505 MILLION OZ./ OCTOBER: 2,520,000 oz NOV AT 7.440 MILLION OZ./ DEC. AT 21.925 MILLION OZ JANUARY AT 5.825 MILLION OZ.AND FEB 2019: 2.955 MILLION OZ/ MARCH: 27.120 MILLION OZ/ APRIL AT 3.875 MILLION OZ/ A MAY: 18.845 MILLION OZ ..JUNE 2.660 MILLION OZ//JULY 22.605 MILLION OZ; AUGUST 10.025 MILLION OZ/ SEPT 43.030 MILLION OZ//OCT: 7.665 MILLION OZ// NOV: 2.630 MILLION OZ//DEC: 20.970 MILLION OZ; JAN: 5.075 MILLION OZ.//FEB 1.480 MILLION OZ//MAR: 23.005 MILLION OZ/APRIL 4.660 MILLION OZ//MAY 45.290 MILLION OZ
- THE RECORD PRIOR TO TODAY WAS SET IN FEB 25/2018: 244,710 CONTRACTS, WITH A SILVER PRICE OF $18.90//.
- HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017 RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 385.75 MILLION OZ/ 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)
GOLD
IN GOLD, THE COMEX OPEN INTEREST FELL BY A SMALL SIZED 2219 CONTRACTS TO 530,794 AND FURTHER FORM OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.
THE SMALL SIZED LOSS OF COMEX OI OCCURRED DESPITE OUR STRONG COMEX LOSS IN PRICE OF $26.40 /// COMEX GOLD TRADING// THURSDAY// WE HAD STRONG BANKER SHORT COVERING , A SMALL SIZED DECREASE IN GOLD OZ STANDING AT THE COMEX, ALONG WITH ZERO LONG LIQUIDATION ACCOMPANYING A HUGE EX. FOR PHYSICAL ISSUANCE. THIS ALL HAPPENED WITH OUR LARGE LOSS IN THE PAPER PRICE OF GOLD.
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