• Tag Archives COMEX
  • JULY 27/GOLD UP $ 10.45 WITH SILVER UP 13 CENTS/GOLD/SILVER EQUITY SHARES FLOUNDER AT THE END OF THE DAY SIGNALLING A POSSIBLE RAID TOMORROW//EU IS FORCING 3 COUNTRIES TO ACCEPT MIGRANTS AGAINST …

    GOLD: $1260.30 UP $10.45
    Silver: $16.59 UP 13 cent(s)
    Closing access prices:
    Gold $1259.50
    silver: $16.58
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1269.54 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1263.20
    PREMIUM FIRST FIX: $6.34
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1267.86
    NY GOLD PRICE AT THE EXACT SAME TIME: $1262.60
    Premium of Shanghai 2nd fix/NY:$5.26
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1262.05
    NY PRICING AT THE EXACT SAME TIME: $1263.00
    LONDON SECOND GOLD FIX 10 AM: $1261.10
    NY PRICING AT THE EXACT SAME TIME. $1261.20
    For comex gold:
    JULY/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 4 NOTICE(S) FOR 400 OZ.
    TOTAL NOTICES SO FAR: 175 FOR 17500 OZ (.5443 TONNES)
    For silver:
    JULY
    112 NOTICES FILED TODAY FOR
    560,000 OZ/
    Total number of notices filed so far this month: 3282 for 16,410,000 oz
    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
    WE HAVE NOW ENTERED OPTIONS EXPIRY WEEK:
    LONDON BASED OPTIONS EXPIRY: JULY 31.2017 AT 11AM OR SO.
    (OTC/LBMA CONTRACTS)
    Judging from the way the gold/silver shares traded today, it sure looks like the boys are going to orchestrate another humdinger of a raid against us tomorrow.

    This post was published at Harvey Organ Blog on July 27, 2017.


  • Stocks and Precious Metals Charts – Nocturne

    “A horse walks into a bar, the bartender says, ‘Why the long face?’”
    And so we had both an FOMC and a precious metals option expiration on the Comex today.
    Stocks are continuing to edge higher, although with a big less verve than previously.
    Pundits are now saying that a crash is probably at least two months away, so now is a good time to buy more stocks.
    You cannot make this stuff up.
    I think that the theory is that when the Fed starts unwinding their balance sheet in September, that the air of liquidity, which is one of key components of these bubbles, is going to start coming out of the markets much faster than it went in.
    And the result may be terrific – not with a bang, but a whimper.

    This post was published at Jesses Crossroads Cafe on 26 JULY 2017.


  • JULY 26/DOVISH FED WITH ‘LACK OF INFLATION’ SENDS GOLD AND SILVER SOARING AFTER COMEX CLOSES/NORTH KOREA WILL LAUNCH ANOTHER ICBM MAYBE BY TONIGHT/USA PASSES LEGISLATION ORCHESTRATING MORE SANCTI…

    GOLD: $1249.85 DOWN $2.55
    Silver: $16.46 DOWN 9 cent(s)
    Closing access prices:
    Gold $1260.75
    silver: $16.67
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1254.41 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1248.40
    PREMIUM FIRST FIX: $6.01
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1252.10
    NY GOLD PRICE AT THE EXACT SAME TIME: $1245.65
    Premium of Shanghai 2nd fix/NY:$6.45
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1245.40
    NY PRICING AT THE EXACT SAME TIME: $1246.50 ???
    LONDON SECOND GOLD FIX 10 AM: $1248.10
    NY PRICING AT THE EXACT SAME TIME. $1248.15
    For comex gold:
    JULY/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 14 NOTICE(S) FOR 1400 OZ.
    TOTAL NOTICES SO FAR: 171 FOR 17100 OZ (.5318 TONNES)
    For silver:
    JULY
    21 NOTICES FILED TODAY FOR
    105,000 OZ/
    Total number of notices filed so far this month: 3170 for 15,850,000 oz
    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
    WE HAVE NOW ENTERED OPTIONS EXPIRY WEEK:
    COMEX OPTIONS EXPIRY: TONIGHT JULY 26.2017
    LONDON BASED OPTIONS EXPIRY: JULY 31.2017 AT 11AM OR SO.
    (OTC/LBMA CONTRACTS)

    This post was published at Harvey Organ Blog on July 26, 2017.


  • Ted Butler Quote of the Day 07-26-17

    I have been expecting a price explosion in silver since early May, when the COMEX positioning extremes in silver hit then-record levels (Remember the unprecedented 17 days of consecutive price declines?). But incorporated in my price explosion premise was that the raptors would be ready sellers of their big long positions as prices rose. With the new COT report indicating that not only have the raptors not begun to sell on higher prices, they actually added new longs. If this was no fluke and is indicative that the raptors may be in no rush to sell, then who the heck is going to sell to the technical funds when they plow onto the buy side?

    There’s no question that the technical funds will rush to buy (or attempt to buy) many tens of thousands of COMEX gold and silver contracts on higher prices from here; the only question is who will sell to them? If it isn’t the raptors, it is a near-certainty that prices will explode.

    This is the perfect set up for a selling vacuum and price explosion that I have long envisioned, but not with such clarity. If there’s ever been a better time to be positioned to the maximum for a silver rally than now, that time is unknown by me.

    A small excerpt from Ted Butler’s subscription letter on 22 July 2017.

    More precious metals news & information available at
    Ed Steer’s Gold & Silver Digest.
     


  • FOMC Decision and Comex Option Expiration For Precious Metals Tomorrow – Beware the Leaven of the Pharisees

    “Beware the leaven of the Pharisees, which is pious, hollow hypocrisy. There is nothing covered that shall not be revealed, and hidden, that shall not be made known. Whatever has been said in the darkness shall be heard in the light: and what has been whispered behind closed doors shall be shouted from the roof tops.”
    Luke 12:1-3
    ‘Those among the fortunate rich who are not, in the rigorous sense, damned, can understand the neediness of poverty, because they are needy themselves, after a fashion; but they cannot understand true impoverishment.
    Capable of giving alms, perhaps, but incapable of stripping themselves bare, they will be moved to the sound of beautiful music, at Jesus’s sufferings – but His Cross, the reality of the self-denial of His Cross, will horrify them. For they want it all out of gold, bathed in light, costly and of little weight; pleasant to see, and hanging from a beautiful woman’s throat.’
    Lon Bloy
    The charts are still pretty much lined up in areas where one might expect to see some movement when volatility returns to the markets.
    The option expiry tomorrow is more significant for gold than silver.

    This post was published at Jesses Crossroads Cafe on 25 JULY 2017.


  • JULY 25/COMEX OPTIONS EXPIRY AND AS ALWAYS GOLD AND SILVER ARE HIT: GOLD FALLS $2.10 BUT SILVER RESPONDS AND RISES 10 CENTS/GLD HAS A LOSS OF 9.17 TONNES/SLV HAS A LOSS OF 3.309 MILLION OZ/TURKEY…

    GOLD: $1252.40 DOWN $2.10
    Silver: $16.55 UP 10 cent(s)
    Closing access prices:
    Gold $1250.00
    silver: $16.52
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1259.96 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1254.25
    PREMIUM FIRST FIX: $5.71
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1262.69
    NY GOLD PRICE AT THE EXACT SAME TIME: $1257.25
    Premium of Shanghai 2nd fix/NY:$5.44
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1252.00
    NY PRICING AT THE EXACT SAME TIME: $1252.50
    LONDON SECOND GOLD FIX 10 AM: $1254.40
    NY PRICING AT THE EXACT SAME TIME. $1254.50
    For comex gold:
    JULY/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 6 NOTICE(S) FOR 600 OZ.
    TOTAL NOTICES SO FAR: 157 FOR 15700 OZ (.4883 TONNES)
    For silver:
    JULY
    122 NOTICES FILED TODAY FOR
    610,000 OZ/
    Total number of notices filed so far this month: 3149 for 15,745,000 oz
    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
    WE HAVE NOW ENTERED OPTIONS EXPIRY WEEK:
    COMEX OPTIONS EXPIRY: TOMORROW JULY 26.2017
    LONDON BASED OPTIONS EXPIRY: JULY 31.2017 AT 11AM OR SO.
    (OTC/LBMA CONTRACTS)

    This post was published at Harvey Organ Blog on July 25, 2017.


  • JULY 24/GOLD AND SILVER STEADY TODAY/GLD LOSES ANOTHER 9.62 TONNES AND YET GOLD REMAINS CONSTANT/EU SOUNDS ALARM BELL IF THE USA PASSES MORE SANCTIONS AGAINST RUSSIA/IRAN AND USA EXCHANGE HEATED …

    GOLD: $1254.50 DOWN $0.25
    Silver: $16.45 DOWN 4 cent(s)
    Closing access prices:
    Gold $1255.50
    silver: $16.50
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1261.18 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1254.50
    PREMIUM FIRST FIX: $6.68
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1261.69
    NY GOLD PRICE AT THE EXACT SAME TIME: $1252.95
    Premium of Shanghai 2nd fix/NY:$8.71
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1255.85
    NY PRICING AT THE EXACT SAME TIME: $1256.55
    LONDON SECOND GOLD FIX 10 AM: $1254.50
    NY PRICING AT THE EXACT SAME TIME. $1255.50 ???
    For comex gold:
    JULY/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 2 NOTICE(S) FOR 200 OZ.
    TOTAL NOTICES SO FAR: 151 FOR 15100 OZ (.4696 TONNES)
    For silver:
    JULY
    17 NOTICES FILED TODAY FOR
    85,000 OZ/
    Total number of notices filed so far this month: 3027 for 15,135,000 oz

    This post was published at Harvey Organ Blog on July 24, 2017.


  • Gold Market Morning: July-24-2017: Gold and silver markets consolidating and rising above $1,250!

    Gold Today – New York closed Friday at $1,254.30. London opened at $1,254.00 today.
    Overall the dollar was weaker against global currencies, early today. Before London’s opening:
    – The $: was slightly stronger at $1.1650 after Friday’s $1.1657: 1.
    – The Dollar index was weaker at 93.93 after Friday’s 94.09.
    – The Yen was stronger at 110.76 after Friday’s 111.69:$1.
    – The Yuan was stronger at 6.7503 after Friday’s 6.7697: $1.
    – The Pound Sterling was stronger at $1.3041 after Friday’s $1.3001: 1.
    Yuan Gold Fix
    New York closed nearly $8.00 higher than Shanghai on Friday with London opening only $3 less than Shanghai. If this persists this week with the differentials narrowing as they are, then we will have confirmation that arbitrageurs are proving successful in smoothing out the differences between the global gold markets.
    This is a structural change in the global gold market and allows a considerably greater influence of the physical gold market [primarily Shanghai] to impact the gold price and diminish the impact of the ‘paper gold markets of COMEX and the ‘paper’ side of the London gold market, across the world.

    This post was published at GoldSeek on 24 July 2017.


  • Market Report: Classic bear squeeze conditions

    Gold and silver recovered well this week, continuing a rally which is now two weeks old. Gold, priced in dollars, rose by another $13 to $1247.50 in early European trade this morning (Friday), up $31 from the lows of 7 July. Silver has now recovered $1.75 from the lows of the flash-crash two weeks ago, to $16.40 this morning.
    Comex futures volume has been normal, but there’s something unusual happening, best exemplified by silver. We know that the bullion banks have shaken out the speculators (mostly hedge fund longs), and the flash-crash referred to above will have taken out the speculators’ stops, enabling the banks to close their short positions profitably. This (as of Tuesday, 11 July) left the managed money category (i.e. hedge funds) net short of 6,361 contracts, representing 31.8 million ounces. The extremeness of this position is shown in our next chart, only exceeded once, in mid-2015.

    This post was published at GoldMoney on July 21, 2017.


  • Ted Butler Quote of the Day 07-21-17

    “JPMorgan may have been the largest single entity buying COMEX silver contracts over this time (more than 20,000 net contracts), but the raptors were the largest collective buyers. Moreover, JPMorgan is still net short in COMEX silver futures, while the raptors are decidedly net long – meaning the raptors will take profits by selling at higher prices, whereas JPMorgan, should it decide to sell, will be adding to short positions to control and manipulate prices, not to take profits. That’s an important distinction that has been lost on the regulators until now.”

    “What this means in practical terms is that it must be expected that the raptors in both gold and silver will sell and take profits on their large net long positions as gold and silver prices rise – this is in their financial interest and is why they trade. Any such raptor sales will have somewhat of a price depressant effect as the contracts are sold, but these traders are also interested in maximum profits and they know how to make the technical funds reach up in price when they move to buy. The raptors, in my opinion, are less interested in capping gold and silver prices than they are in taking as much money as they can from the technical funds. It will be the additional short sales by JPMorgan (or lack thereof) that will determine whether silver prices get capped on this next go-around.”

    A small excerpt from Ted Butler’s subscription letter on 19 July 2017.

    More precious metals news & information available at
    Ed Steer’s Gold & Silver Digest.
     


  • Stocks and Precious Metals Charts – One Day In Texas

    ‘Beware the Jabberwock, my son!
    The jaws that bite, the claws that catch!
    Beware the Jubjub bird, and shun
    The frumious Bandersnatch!’
    Lewis Carroll
    “Grigory Yefimovich Rasputin –
    spiritual advisor to the Romanovs.
    In 1916, at a dinner in his honor,
    he was poisoned, shot stabbed,
    clubbed, drowned, and castrated.”
    Hellboy, 2003
    “A shudder in the loins engenders there
    The broken wall, the burning roof and tower
    And Agamemnon dead.
    Being so caught up,
    So mastered by the brute blood of the air,
    Did she put on his knowledge with his power.”
    W. B. Yeats
    Tomorrow is a stock options expiration.
    Next week there will be a precious metals option expiration on the Comex and an FOMC meeting.
    If the metals can make it past these, then the path to a breakout may be clear.
    Stocks look toppy. Wait for it.

    This post was published at Jesses Crossroads Cafe on 20 JULY 2017.


  • JULY 20/MUELLER NOW EXPANDS SCOPE INTO TRUMP’S BUSINESS DEALINGS SENDS GOLD AND SILVER NORTHBOUND/GOLD UP $3.50/SILVER UP 5 CENTS/BANK OF AMERICA PULLS OUT OF ALL FUNDING FOR LARGE CHINESE CONGLO…

    GOLD: $1246.00 UP $3.50
    Silver: $16.38 UP 5 cent(s)
    Closing access prices:
    Gold $1245.00
    silver: $16.36
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1247.75 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1239.50
    PREMIUM FIRST FIX: $8.25
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1246.52
    NY GOLD PRICE AT THE EXACT SAME TIME: $1238.10
    Premium of Shanghai 2nd fix/NY:$8.42
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1236.55
    NY PRICING AT THE EXACT SAME TIME: $1237.70
    LONDON SECOND GOLD FIX 10 AM: $1238.70
    NY PRICING AT THE EXACT SAME TIME. $1239.15
    For comex gold:
    JULY/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 0 NOTICE(S) FOR NIL OZ.
    TOTAL NOTICES SO FAR: 149 FOR 14900 OZ (.4634 TONNES)
    For silver:
    JULY
    34 NOTICES FILED TODAY FOR
    170,000 OZ/
    Total number of notices filed so far this month: 2956 for 14,780,000 oz
    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
    end
    The key event today was the revelation that Mueller is probing Trump’s business interests around the globe. That sparked gold and silver to rebound after the bankers had targeted our precious metals to the dumpster today. That plan was foiled with the Mueller news.
    I would really like you to read the Stockman commentary at the bottom of my commentary. It is a must read..
    Let us have a look at the data for today
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    In silver, the total open interest FELL BY 1845 contract(s) DOWN to 207,844 DESPITE THE TINY RISE IN PRICE THAT SILVER TOOK WITH YESTERDAY’S TRADING (UP 4 CENT(S). TODAY WE HAD NEW SPECULATOR LONGS ENTER THE MARKET WITH THE BANKERS SUPPLYING THE NECESSARY PAPER. THE BANKERS ARE HAVING AN AWFUL TIME TRYING TO SHAKE THE SILVER LEAVES FROM THE SILVER TREE. HOWEVER SOME SILVER LONGS DID DEPART
    In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.061 BILLION TO BE EXACT or 152% of annual global silver production (ex Russia & ex China).
    FOR THE NEW FRONT MAY MONTH/ THEY FILED: 34 NOTICE(S) FOR 170,000 OZ OF SILVER
    In gold, the total comex gold FELL BY 2948 CONTRACTS DESPITE THE RISE IN THE PRICE OF GOLD ($0.50 with YESTERDAY’S TRADING). The total gold OI stands at 481,256 contracts. THE BANKERS ARE STILL LOATHE TO SUPPLY THE GOLD PAPER AND WISH TO COVER MORE OF THEIR SHORTS. SOME NEWBIE SPEC LONGS STARTED TO ENTER THE GOLD COMEX ARENA AGAIN. THE PLETHORA OF DATA RELEASED ON FRIDAY SHOWING RETAIL SPENDING BASICALLY COLLAPSING ALONG WITH SMALLER INFLATION NUMBERS MUST BE SCARING OUR BANKERS TO DEATH.
    we had 0 notice(s) filed upon for NIL oz of gold.
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    With respect to our two criminal funds, the GLD and the SLV:
    GLD:
    Today no changes in gold inventory
    Inventory rests tonight: 816.13 tonnes
    for 5 consecutive days, gold rises appreciably and yet gold inventory drops at the GLD
    (In the last 5 days gold rises $27.70 and yet GLD inventory collapses by 16.26 tonnes)
    GLD IS A MASSIVE FRAUD/INVENTORY SHOULD BE RISING NOT FALLING.
    SLV
    Today: : WE HAD A HUGE CHANGES IN SILVER INVENTORY TONIGHT/A WITHDRAWAL OF 945,000 OZ WITH SILVER UP AGAIN BY 5 CENTS
    INVENTORY RESTS AT 347.121 MILLION OZ

    This post was published at Harvey Organ Blog on July 20, 2017.


  • Overnight Paper Attack On Gold – Why This One Was Different

    Once again there was an overnight ‘flash crash’ in Comex gold futures trading. This time it occurred at 3:56 a.m. EST at one of the quietest trading periods of the roughly 23 hour electronic trading day. India has gone sleep. The Shanghai Gold Exchange has been closed for about 90 minutes and the London markets are just beginning to function. I guess someone decided it was a good time to unload close $500 million worth of paper gold into the Comex’s Globex electronic trading system:

    This post was published at Investment Research Dynamics on July 19, 2017.


  • Investors Are Pouring Money Into Silver ETFs

    Silver, known for being a market of extremes, is living up to its reputation this year.
    Prices rallied 17 percent in the first four months of the year, only to reverse and wipe out those gains. Despite the selloff, investors are pouring money into exchange-traded funds, and assets have reached a record 21,211 metric tons, valuing the holdings at $11 billion. At the same time, the picture is bearish in the futures market, where hedge funds now hold the first net-short position in two years.
    Different kinds of investors are driving the opposing trends, according to George Coles, an analyst at research firm Metals Focus Ltd. Large, active hedge funds shorted Comex futures because of the risk of higher U.S. interest rates, driving silver prices lower, he said. ETF buyers tend to be smaller traders that use silver for long-term diversification of their portfolios. They’ll be rewarded for their bullishness as slower U.S. economic growth spurs demand for haven assets, Coles said.
    “This may be a case of the smaller investors versus the big guys,’ Coles said in a phone interview from London. ‘In this case, the smaller guys may be right.’
    He’s predicting that silver prices have probably bottomed and will rebound from current levels. Prices will reach $20.25 an ounce in the next 12 months, an increase of 25 percent from the current value of $16.164.

    This post was published at bloomberg


  • JULY 19/ANOTHER HUGE 5.32 TONNES OF GOLD WITHDRAWAL FROM THE GLD DESPITE GOLD’S SMALL ADVANCE/NO CHANGE IN SILVER INVENTORY AT THE SLV/FOR THE LAST 4 DAYS: 16.26 TONNES OF GOLD HAVE BEEN WITHDRAW…

    GOLD: $1242.50 UP $0.50
    Silver: $16.33 UP 4 cent(s)
    Closing access prices:
    Gold $1241.00
    silver: $16.28
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1250.26 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1241.50
    PREMIUM FIRST FIX: $8.76
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1249.51
    NY GOLD PRICE AT THE EXACT SAME TIME: $1240.90
    Premium of Shanghai 2nd fix/NY:$8.61
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1239.85
    NY PRICING AT THE EXACT SAME TIME: $1239.30
    LONDON SECOND GOLD FIX 10 AM: $1242.15
    NY PRICING AT THE EXACT SAME TIME. $1241.25
    For comex gold:
    JULY/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 25 NOTICE(S) FOR 2500 OZ.
    TOTAL NOTICES SO FAR: 149 FOR 14900 OZ (.4634 TONNES)
    For silver:
    JULY
    32 NOTICES FILED TODAY FOR
    160,000 OZ/
    Total number of notices filed so far this month: 2922 for 14,610,000 oz

    This post was published at Harvey Organ Blog on July 19, 2017.


  • Ted Butler Quote of the Day 07-19-17

    “History shows that not only are the commercials zooming the technical funds, they have just done so in a manner of unprecedented proportions. Never have the commercials snookered the technical funds in COMEX silver and gold as has just occurred. While I suppose it’s always possible for the commercials to snooker and hoodwink the technical funds into selling even more silver and gold contracts, thus setting the bullish stage even more extreme, that’s not the odds-on bet. The odds-on bet is that the commercials will now look to maximize in monetary terms what they have just created in positioning terms. In other words, it’s time for the commercials to ring the cash register.”

    Now that the technical funds are more short in silver than ever and close to the least net long they have been in both silver and gold in history, the best way for the commercials to ring the cash register would be to let prices rip higher. Nothing would hurt the managed money traders or benefit the commercials more at this time than sharply higher prices. Those sharply higher prices will, obviously, also benefit gold and silver investors and producers, but that’s beside the point in the exclusive private COMEX paper betting game. What happens to the rest of the world doesn’t matter to the big COMEX betters, nor does it matter to the regulators (much to their great shame).”

    All that matters is that the COMEX commercials appear to be on the verge of extracting great sums of money from the technical funds as silver and gold prices move higher. As I indicated previously, no one appears better positioned than JPMorgan for a price explosion in silver. In fact, I am truly in awe of what this crooked bank just pulled off, as much as any criminal act could ever inspire awe. I know how they did it and why they did it, but I am still amazed that JPM actually did it.”

    A small excerpt from Ted Butler’s subscription letter on 15 July 2017.

    More precious metals news & information available at
    Ed Steer’s Gold & Silver Digest.
     


  • Is the COMEX Rigged?

    The COMEX gold futures market and the London OTC gold market have a joint monopoly on setting the international gold price. This is because these two markets generate the largest ‘gold’ trading volumes and have the highest ‘liquidity’. However, this price setting dominance is despite either of these two markets actually trading physical gold bars. Both markets merely trade different forms of derivatives of gold bars.
    Overall, the COMEX (which is owned by the CME Group) is even more dominant that the London market in setting the international price of gold. This is a feat which financial academics ascribe to COMEX being a centralized electronic platform offering low transaction costs, ease of leverage, and ‘the ability to avoid dealing with the underlying asset’ (i.e. COMEX allows its participants to avoid dealing with gold bars). Because of these traits, say the academics, COMEX has a ‘disproportionately large role in [gold] price discovery’.
    Over 95% of COMEX gold futures trading is now conducted on CME’s electronic trading platform Globex, with most of the remainder done on CME’s electronic Clearport, where futures trades executed in the OTC market can be settled by CME. Next to nothing in gold futures is traded any more via pit-based open outcry.

    This post was published at Bullion Star on 18 Jul 2017.


  • JULY 18/TRUMPCARE COLLAPSES WHICH CAUSES THE DOLLAR TO DRAMATICALLY FALL: THIS RESULTS IN GOLD RISING $7.50 AND SILVER ANOTHER 16 CENTS/FOR THE 3RD CONSECUTIVE DAY, GOLD RISES AND YET MASSIVE AMO…

    GOLD: $1242.00 UP $7.50
    Silver: $16.29 UP 16 cent(s)
    Closing access prices:
    Gold $1243.00
    silver: $16.28
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1247.67 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1237.65
    PREMIUM FIRST FIX: $10.02
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1247.08
    NY GOLD PRICE AT THE EXACT SAME TIME: $1237.55
    Premium of Shanghai 2nd fix/NY:$9.53
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1237.10
    NY PRICING AT THE EXACT SAME TIME: $1237.45
    LONDON SECOND GOLD FIX 10 AM: $1240.75
    NY PRICING AT THE EXACT SAME TIME. $1240.95
    For comex gold:
    JULY/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 4 NOTICE(S) FOR 400 OZ.
    TOTAL NOTICES SO FAR: 124 FOR 12400 OZ (.3856 TONNES)
    For silver:
    JULY
    24 NOTICES FILED TODAY FOR
    120,000 OZ/
    Total number of notices filed so far this month: 2890 for 14,450,000 oz

    This post was published at Harvey Organ Blog on July 18, 2017.


  • JULY 17/GOLD RISES $4.20/SILVER UP ANOTHER 17 CENTS/GLD LOSES ANOTHER 1.77 TONNES DESPITE GOLD’S GAIN!!/CHINESE SMALL CAPS CRASH LAST NIGHT/ITALY CANNOT HANDLE ANY MORE MIGRANTS: GIVES THE EU AN …

    GOLD: $1234.50 UP $4.20
    Silver: $16.13 UP 17 cent(s)
    Closing access prices:
    Gold $1234.50
    silver: $16.13
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1241.75 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1231.60
    PREMIUM FIRST FIX: $10.15
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1241.37
    NY GOLD PRICE AT THE EXACT SAME TIME: $1231.00
    Premium of Shanghai 2nd fix/NY:$10.37
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1229.85
    NY PRICING AT THE EXACT SAME TIME: $1230.45
    LONDON SECOND GOLD FIX 10 AM: $1234.10
    NY PRICING AT THE EXACT SAME TIME. $1234.45
    For comex gold:
    JULY/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 3 NOTICE(S) FOR 300 OZ.
    TOTAL NOTICES SO FAR: 120 FOR 12000 OZ (.3732 TONNES)
    For silver:
    JULY
    51 NOTICES FILED TODAY FOR
    255,000 OZ/
    Total number of notices filed so far this month: 2866 for 14,330,000 oz

    This post was published at Harvey Organ Blog on July 17, 2017.


  • Ted Butler Quote of the Day 07-14-17

    But there are other factors that may play into the only question that matters, namely, will JPM add to shorts or not. Among those factors are the widespread and growing attention to the extreme COMEX positioning changes and otherwise unexplainable and weird price action in silver, which can only be explained by COMEX positioning. Throw in the wildcard of the new Enforcement Director at the CFTC, James McDonald, and the game’s outcome goes beyond interesting.

    As far as I’m concerned, we’re on the verge of discovering if McDonald will go down as perhaps the regulatory hero of all time or if we’ll be calling for his head on a spike. Again, it all comes down to whether JPMorgan adds or doesn’t add to its silver short positions whenever the next price rally commences. I can’t get more specific than that.

    As far as what Friday’s COT report will indicate, the dramatic downside price action and extremely high trading volume point to yet another week of significant improvement – big commercial buying and managed money selling. This is also supported by an increase in total open interest in the reporting week (4,000 contracts in silver and 18,000 in gold). We may even see improvements on the scale of last week’s report, but regardless of whatever the actual reported numbers may be, it sure feels to me that we’re at or passed the point of a downside climax, particularly in terms of extreme contract positioning. Full and maximum exposure is warranted, particularly in silver.

    A small excerpt from Ted Butler’s subscription letter on 12 July 2017.

    More precious metals news & information available at
    Ed Steer’s Gold & Silver Digest.