Gold at (1:30 am est) $1237.80 DOWN $0.10
silver was : $17.99: DOWN 3 CENTS
Access market prices:
THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON
The Shanghai fix is at 10:15 pm est last night and 2:15 am est early this morning
The fix for London is at 5:30 am est (first fix) and 10 am est (second fix)
Thus Shanghai’s second fix corresponds to 195 minutes before London’s first fix.
And now the fix recordings:
TUESDAY gold fix Shanghai
Shanghai FIRST morning fix Feb 21/17 (10:15 pm est last night): $ 1244.89
NY ACCESS PRICE: $1233.20 (AT THE EXACT SAME TIME)/premium $11.69
Shanghai SECOND afternoon fix: 2: 15 am est (second fix/early morning):$ 1244.89
NY ACCESS PRICE: $1234.30 (AT THE EXACT SAME TIME/2:15 am)
SPREAD/ 2ND FIX TODAY!!: 10.14
China rejects NY pricing of gold as a fraud/arbitrage will now commence fully
London FIRST Fix: Feb 21/2017: 5:30 am est: $1233.20 (NY: same time: $1233.40 (5:30AM)
London Second fix Feb 21.2017: 10 am est: $1241.95(NY same time: $1241.90 (10 am)
It seems that Shanghai pricing is higher than the other two , (NY and London). The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price. This should drain the comex.
Also why would mining companies hand in their gold to the comex and receive constantly lower prices. They would be open to lawsuits if they knowingly continue to supply the comex despite the fact that they could be receiving higher prices in Shanghai.
For comex gold:
NOTICES FILINGS FOR FEBRUARY CONTRACT MONTH: 146 NOTICE(S) FOR 14,600 OZ. TOTAL NOTICES SO FAR: 5291 FOR 529,100 OZ (16.457 TONNES)
For silver: FEBRUARY
3 NOTICES FILED FOR 15,000 OZ/
TOTAL NO OF NOTICES FILED: 413 FOR 2,065,000 OZ
Let us have a look at the data for today
In silver, the total open interest ROSE by 1085 contracts UP to 205,602 with respect to FRIDAY’S TRADING. In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. 1.025 BILLION TO BE EXACT or 146% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT FEBRUARY MONTH: THEY FILED: 146 NOTICE(S) FOR 14600 OZ
In gold, the total comex gold ROSE BY 864 contracts WITH THE FALL IN THE PRICE GOLD ($2.40 with FRIDAY’S trading ). The total gold OI stands at 430,011 contracts
we had 146 notice(s) filed upon for 14,600 oz of gold.
With respect to our two criminal funds, the GLD and the SLV:
We had no change in tonnes of gold at the GLD:
Inventory rests tonight: 841.17 tonnes
we had a changes in silver into the SLV: a deposit of 568,000
THE SLV Inventory rests at: 335.281 million oz
This post was published at Harvey Organ Blog on February 21, 2017.