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FOR THE THIRD TIME IN A WEEK EXPLOSIONS ROCK IRAN
by Harvey Organ, Harvey Organ Blog:
GOLD UP $6.50 TO $1784.40//SILVER UP 24 CENTS TO $18.25//GOLD SPREAD SPOT TO FUTURE $9.10 //IN SILVER: 33 CENTS/COMEX GOLD TONNAGE STANDING; 17.7 TONNES//CORONAVIRUS UPDATES FRIDAY-MONDAY//MANY COMMENTARIES RE CHINA VS USA////FOR THE THIRD TIME IN A WEEK EXPLOSIONS ROCK IRAN/USA ECONOMIC COMMENTARIES//MORE SWAMP STORIES FOR YOU TONIGHT
GOLD:$1784.40 UP $6.50 The quote is London spot price
Silver:$18.25// UP 24 CENTS London spot price
Closing access prices: London spot
i)Gold : $1784.50 LONDON SPOT 4:30 pm
ii)SILVER: $18.27//LONDON SPOT 4:30 pm
CLOSING FUTURES PRICES: KEY MONTHS
AUG GOLD: $1793.50 CLOSE 1.30 PM// SPREAD SPOT/FUTURE AUG /: $9.10
CLOSING SILVER FUTURE MONTH
SILVER SEPT COMEX CLOSE; $18.58…1:30 PM.//SPREAD SPOT/FUTURE SEPT// : 33 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 $2600. usa per oz
and silver; $29.00 per oz//
LADIES AND GENTLEMEN: YOU ARE NOW WITNESSING FIRST HAND THE DIFFERENCE BETWEEN PAPER GOLD/SILVER AND THE REAL PHYSICAL STUFF!!
TOMORROW WE WILL HAVE THE JOBS REPORT AND AS USUAL, THEY WHACK THE DAY BEFORE/
COMEX DATA
JPMorgan has been receiving gold with reckless abandon and sometimes supplying (stopping)
today RECEIVING: 171/532
issued 300
EXCHANGE: COMEX
CONTRACT: JULY 2020 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,784.000000000 USD
INTENT DATE: 07/02/2020 DELIVERY DATE: 07/07/2020
FIRM ORG FIRM NAME ISSUED STOPPED
____________________________________________________________________________________________
072 C GOLDMAN 115 4
072 H GOLDMAN 47
135 H RAND 2
152 C DORMAN TRADING 6
159 C ED&F MAN CAP 1
355 C CREDIT SUISSE 2
624 C BOFA SECURITIES 2
657 C MORGAN STANLEY 40
657 H MORGAN STANLEY 93
661 C JP MORGAN 300 171
686 C INTL FCSTONE 2
690 C ABN AMRO 10 19
732 C RBC CAP MARKETS 3
737 C ADVANTAGE 35 37
800 C MAREX SPEC 65 79
878 C PHILLIP CAPITAL 6 5
905 C ADM 20
____________________________________________________________________________________________
TOTAL: 532 532
MONTH TO DATE: 4,973
NUMBER OF NOTICES FILED TODAY FOR JULY CONTRACT: 552 NOTICE(S) FOR 55200 OZ (1.716 tonnes)
TOTAL NUMBER OF NOTICES FILED SO FAR: 4973 NOTICES FOR 497300 OZ (15.468 TONNES)
FOR JULY
28 NOTICE(S) FILED TODAY FOR 140,000 OZ/
total number of notices filed so far this month: 13,040 for 65,200,000 MILLION oz
BITCOIN MORNING QUOTE $9195 UP 121
BITCOIN AFTERNOON QUOTE.: $9293 UP $293
GLD AND SLV INVENTORIES:
WITH GOLD UP $6.50 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 9.36 TONNES OF GOLD INTO THE GLD//
GLD: 1,191.47 TONNES OF GOLD//
WITH SILVER UP 24 CENTS TODAY: AND WITH NO SILVER AROUND
A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: A PAPER DEPOSIT OF 1.863 MILLION OZ INTO THE SLV//
RESTING SLV INVENTORY TONIGHT:
SLV: 503.871 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 TINY SIZED 239 CONTRACTS FROM 167,352 UP TO 167,591, AND CLOSER TO OUR NEW RECORD OF 244,710, (FEB 25/2020. THE TINY SIZED GAIN IN OI OCCURRED WITH OUR 4 CENT GAIN IN SILVER PRICING AT THE COMEX. IT SEEMS THAT THE GAIN IN COMEX OI IS PRIMARILY DUE TO HUGE BANKER SHORT COVERING PLUS A SMALL EXCHANGE FOR PHYSICAL ISSUANCE, ZERO LONG LIQUIDATION, ACCOMPANYING A SMALL DECREASE IN SILVER STANDING AT THE COMEX FOR JULY. WE HAD A NET GAIN IN OUR TWO EXCHANGES OF 610 CONTRACTS (SEE CALCULATIONS BELOW).
WE HAVE ALSO WITNESSED A HUGE 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 SMALL SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: JULY: 0 AND SEP 371 FOR ZERO ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE 371 CONTRACTS. WITH THE TRANSFER OF 489 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 371 EFP CONTRACTS TRANSLATES INTO 1.67 MILLION OZ ACCOMPANYING:
1.THE 4 CENT GAIN 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
45.220 MILLION OZ FINAL STANDING FOR MAY
2.205 MILLION OF FINAL STANDING FOR JUNE
82.725 MILLION OZ INITIALLY IN JULY.
THURSDAY, AGAIN OUR CROOKS USED COPIOUS PAPER IN ORDER TO LIQUIDATE SILVER’S PRICE…AND THEY WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE 4 CENTS).. AND,OUR OFFICIAL SECTOR/BANKERS WERE NO DOUBT SUCCESSFUL IN THEIR ATTEMPT TO FLEECE SOME SILVER LONGS FROM THEIR POSITIONS. THE TINY GAIN AT THE COMEX WAS ACCOMPANIED BY : i) A SMALL ISSUANCE OF EXCHANGE FOR PHYSICALS 2) A SMALL DECLINE IN STANDING OF SILVER OZ STANDING FOR JULY, STRONG BANKER SHORT COVERING AND 4) ZERO LONG LIQUIDATION AS WE DID HAVE A STRONG NET GAIN OF 610 CONTRACTS OR 3.050 MILLION OZ ON THE TWO EXCHANGES! YOU CAN BET THE FARM THAT OUR BANKER ARE DESPERATE TO LIQUIDATE THEIR HUGE SHORT POSITIONS IN SILVER
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS
JULY
ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY /FOR MONTH OF JULY:
1194 CONTRACTS (FOR 3 TRADING DAY(S) TOTAL 1194 CONTRACTS) OR 5.970 MILLION OZ: (AVERAGE PER DAY: 398 CONTRACTS OR 1.990 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF JULY: 5.970 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 1.64% 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: 1,143.38 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 FINAL: 77.27 MILLION OZ
JUNE EXP 71.15 MILLION OZ.
JULY EXP 5.970 MILLION OZ/
EXCHANGE FOR PHYSICAL ISSUANCE FOR THE PAST 60 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 239, WITH OUR 4 GAIN IN SILVER PRICING AT THE COMEX ///THURSDAY… THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE OF 371 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 SMALL SIZED OI CONTRACTS ON THE TWO EXCHANGES: 610 CONTRACTS (WITH OUR 4 CENT GAIN IN PRICE)//
THE TALLY//EXCHANGE FOR PHYSICALS
i.e 371 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH A TINY SIZED INCREASE OF 239 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED DESPITE A 4 CENT GAIN IN PRICE OF SILVER/AND A CLOSING PRICE OF $18.01 // 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. 0.8380 BILLION OZ TO BE EXACT or 119% of annual global silver production (ex Russia & ex China).
FOR THE NEW JULY DELIVERY MONTH/ THEY FILED AT THE COMEX: 28 NOTICE(S) FOR 140,000 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 45.220 MILLION OZ//JUNE: 2.205 MILLION OZ// JULY 82.725 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 ROSE BY A SMALL SIZED 2575 CONTRACTS TO 556,748 AND CLOSER TO OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.
THE TINY SIZED GAIN OF COMEX OI OCCURRED WITH OUR STRONG GAIN IN PRICE OF $7.00 /// COMEX GOLD TRADING// THURSDAY// WE HAD HUGE BANKER SHORT COVERING, ANOTHER HUMONGOUS SIZED GOLD OZ STANDING AT THE COMEX FOR JULY, ALONG WITH ZERO LONG LIQUIDATION ACCOMPANYING A SMALL EXCHANGE FOR PHYSICAL ISSUANCE. THIS ALL HAPPENED WITH OUR GAIN IN PRICE OF $7.00 .
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