Gold at (1:30 am est) $1231.70 UP $7.80
silver was : $17.95: UP 8 CENTS
Access market prices:
Gold: $1233.50
Silver: $17.98
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:
WEDNESDAY gold fix Shanghai
Shanghai FIRST morning fix Feb 15/17 (10:15 pm est last night): $ 1242.67
NY ACCESS PRICE: $1226.50 (AT THE EXACT SAME TIME)/premium $16.17
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Shanghai SECOND afternoon fix: 2: 15 am est (second fix/early morning):$ 1241.83
NY ACCESS PRICE: $1224.70 (AT THE EXACT SAME TIME/2:15 am)
SPREAD/ 2ND FIX TODAY!!: 17.13
China rejects NY pricing of gold as a fraud/arbitrage will now commence fully
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London FIRST Fix: Feb 15/2017: 5:30 am est: $1225.15 (NY: same time: $1225.50 (5:30AM)
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London Second fix Feb 15.2017: 10 am est: $1224.40 (NY same time: $1224.80 (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.
end
For comex gold:
FEBRUARY/
NOTICES FILINGS FOR FEBRUARY CONTRACT MONTH: 1 NOTICE(S) FOR 100 OZ. TOTAL NOTICES SO FAR: 5124 FOR 512,400 OZ (15.937 TONNES)
For silver:
For silver: FEBRUARY
26 NOTICES FILED FOR 130,000 OZ/
TOTAL NO OF NOTICES FILED: 386 FOR 1,930,000 OZ
Let us have a look at the data for today
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In silver, the total open interest FELL by A slight 752 contracts DOWN to 195,338 with respect to YESTERDAY’S TRADING. In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. .977 BILLION TO BE EXACT or 140% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT FEBRUARY MONTH: THEY FILED: 26 NOTICE(S) FOR 130,000 OZ
In gold, the total comex gold ROSE BY A WHOPPING 7,277 contracts DESPITE THE FALL IN THE PRICE GOLD ($0.50 with YESTERDAY’S trading ). The total gold OI stands at 415,128 contracts
we had 1 notice(s) filed upon for 100 oz of gold.
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With respect to our two criminal funds, the GLD and the SLV:
GLD:
We had another huge change in tonnes of gold at the GLD: a deposit of 2.67 tonnes despite the attempted whacking of gold today.
Inventory rests tonight: 843.54 tonnes
SLV
we had no changes in silver into the SLV
THE SLV Inventory rests at: 334.713 million oz
This post was published at Harvey Organ Blog on February 15, 2017.
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