by Harvey Organ, Harvey Organ Blog:

GOLD: $1333.40 UP $2.90 (COMEX TO COMEX CLOSINGS)

Silver: $16.30 DOWN 11 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1333.30

silver: $16.32

For comex gold:

APRIL/

NUMBER OF NOTICES FILED TODAY FOR APRIL CONTRACT:8 NOTICE(S) FOR 800 OZ.
TOTAL NOTICES SO FAR 595 FOR 59500 OZ (1.8506 tonnes)

For silver:

APRIL

0 NOTICE(S) FILED TODAY FOR
nil OZ/
Total number of notices filed so far this month: 19 for 90,000 oz

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Bitcoin: BID $7035/OFFER $7135: DOWN $331(morning)
Bitcoin: BID/ $6845/offer $6945: DOWN $570 (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 ROSE BY 4457 contracts from 229131 RISING TO 232,682 DESPITE YESTERDAY’S STRONG 26 CENT FALL IN SILVER PRICING. OBVIOUSLY, WE HAD ZERO COMEX LIQUIDATION. HOWEVER WE ALSO WITNESSED ZERO COMEX SHORT COVERING. WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER STRONG SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP : 1220 EFP’S FOR MAY AND ZERO FOR ALL OTHER MONTHS AND THUS TOTAL ISSUANCE OF 5677 CONTRACTS. WITH THE TRANSFER OF 1220 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 1220 CONTRACTS TRANSLATES INTO 6.10 MILLION OZ ON TOP OF THE RISE 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:

5032 CONTRACTS (FOR 3 TRADING DAYS TOTAL 5032 CONTRACTS) OR 25.16 MILLION OZ: AVERAGE PER DAY: 1677 CONTRACTS OR 8.386 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH: 25.16 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 3.59% OF ANNUAL GLOBAL PRODUCTION

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 743.65 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 GIGANTIC SIZED GAIN IN COMEX OI SILVER COMEX OF 4457 DESPITE THE 26 CENT FALL IN SILVER PRICE. HOWEVER, WE ALSO HAD ANOTHER STRONG SIZED EFP ISSUANCE OF 1220 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 1220 EFP’S FOR THE MONTH OF MAY WERE ISSUED FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE GAINED 5677 OI CONTRACTS ON THE TWO EXCHANGES: i.e. 1220 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 4457 OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE FALL IN PRICE OF SILVER OF 26 CENTS AND A CLOSING PRICE OF $16.41 WITH RESPECT TO TUESDAY’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. 1.1635 BILLION TO BE EXACT or 166% of annual global silver production (ex Russia & ex China).

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

IN SILVER, WE ARE NOW 2,000 CONTRACTS AWAY FROM RECORD LEVELS AND YET THE SILVER PRICE IS EXTREMELY LOW

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 232,600 CONTRACTS (OR 1.163 BILLION OZ/
HUGE EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION
AND YET WE HAVE A CONTINUAL LOWER 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 JPMORGAN 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 GOOD SIZED 8274 CONTRACTS DOWN TO 494,141 ACCOMPANYING THE STRONG SIZED FALL IN PRICE/YESTERDAY’S TRADING ( LOSS OF $9.30). AS WE ENTER THE ACTIVE DELIVERY MONTH OF APRIL. THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A RATHER LARGE SIZED 9691 CONTRACTS : JUNE SAW THE ISSUANCE OF 9291 CONTRACTS AND SURPRISINGLY APRIL AT 400 CONTRACTS (SOMEBODY IN URGENT NEED OF GOLD) THEN ALL OTHER MONTHS ZERO. The new OI for the gold complex rests at 493,141. 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: 8274 OI CONTRACTS DECREASED AT THE COMEX AND A GOOD SIZED 9691 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS TOTAL OI GAIN: 1417 CONTRACTS OR 141700 OZ =4.407 TONNES

YESTERDAY, WE HAD 3180 EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF APRIL : 27,640 CONTRACTS OR 27,64,000 OZ OR 85.972 TONNES (3 TRADING DAYS AND THUS AVERAGING: 9213 EFP CONTRACTS PER TRADING DAY OR 921,300 OZ/ TRADING DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : SO FAR THIS MONTH IN 2 TRADING DAYS IN TONNES: 85.972 TONNES

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

THUS EFP TRANSFERS REPRESENTS 85.972/2550 x 100% TONNES = 3.337% 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: 2130.44 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 WITH THE STRONG SIZED FALL IN PRICE IN GOLD TRADING YESTERDAY ($9.30 LOSS). WE HAD A VERY LARGE SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 9691 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 9691 EFP CONTRACTS ISSUED, WE HAD A GOOD NET GAIN IN OPEN INTEREST OF 1417 contracts ON THE TWO EXCHANGES:

9691 CONTRACTS MOVE TO LONDON AND 8274 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 4.407 TONNES).

we had: 8 notice(s) filed upon for 800 oz of gold.

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

GLD

WITH GOLD UP $2.90 : WE HAD NO CHANGES IN GOLD TONNAGE AT THE GLD/

Inventory rests tonight: 852.31 tonnes.

SLV/

WITH SILVER DOWN 11 CENTS TODAY: A SMALL CHANGE/ A WITHDRAWAL OF 135,000 OZ TO PAY FOR FEES.

/INVENTORY RESTS AT 318.877 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 ROSE BY A HUGE 4457 contracts from 229,131 UP TO 232,682 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787. THE PRICE OF SILVER ON THAT DAY: $17.89) DESPITE THE STRONG SIZED FALL IN PRICE OF SILVER (26 CENTS// YESTERDAY’S TRADING). OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER 1220 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 GAIN AT THE COMEX OF 4457 CONTRACTS TO THE 1220 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A GAIN OF 5677 OPEN INTEREST CONTRACTS. WE STILL HAVE A GOOD AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN APRIL (SEE BELOW). THE NET GAIN TODAY IN OZ ON THE TWO EXCHANGES: 28.38 MILLION OZ!!!

RESULT: A HUGE SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE GOOD SIZED FALL IN SILVER PRICING / YESTERDAY (26 CENTS) . BUT WE ALSO HAD ANOTHER VERY GOOD SIZED 1220 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)WEDNESDAY MORNING/TUESDAY NIGHT: Shanghai closed DOWN 5.52 POINTS OR 0.18% /Hang Sang CLOSED DOWN 661.41 POINTS OR 2.19% / The Nikkei closed UP 27.26 POINTS OR .13%/Australia’s all ordinaires CLOSED UP .08% /Chinese yuan (ONSHORE) closed DOWN at 6.3077/Oil DOWN to 62.36 dollars per barrel for WTI and 66.86 for Brent. Stocks in Europe OPENED DEEPLY IN THE RED . ONSHORE YUAN CLOSED DOWN AT 6.3077 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.3094 /ONSHORE YUAN TRADING STRONGER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING WEAKER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING WEAKER AGAINST THE DOLLAR . CHINA IS NOT VERY HAPPY TODAY POOR CHINESE MARKETS/CHINA RETALIATES WITH TARIFFS/LOOKS LIKE A FULL TRADE WAR IS BEGINNING/

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