by Harvey Organ, Harvey Organ Blog:
THIN MARKET CONDITIONS DUE TO COLUMBUS DAY HOLIDAY CAUSES PRECIOUS METALS TO FALL: GOLD FALLS BY $33.50 TO $1668.20//SILVER DROPS 65 CENTS TO $19.59//PLATINUM IS DOWN $19.65 TO $899.65//PALLADIUM IS DOWN $39.40 TO $2156.25//FIRST UKRAINE BOMBS THE KERCH STRAIT BRIDGE LINKING RUSSIA TO CRIMEA (SATURDAY), THEN RUSSIA BOMBS KEY CITIES OF KIEV, ODESSA AND KHARKOV..MAJOR UPDATES ON THIS ISSUE//BANK OF ENGLAND WILL CONTINUE TO RAISE INTEREST RATES TO FIGHT INFLATION DESPITE PROBLEMS WITH INSURANCE COMPANIES AND PENSION FUNDS//SAME TROUBLE WITH GERMAN INSURANCE AND PENSION FUNDS//COVID UPDATES//VACCINE IMPACT, VACCINE INJURIES
TRUTH LIVES on at https://sgtreport.tv/
GOLD PRICE CLOSE: DOWN $33.50 to $1668.20
SILVER PRICE CLOSE: DOWN $0.65 to $19.59
Access prices: closes
Gold ACCESS CLOSE 1667.70
Silver ACCESS CLOSE: 19.61
New: early yesterday morning//
Bitcoin morning price: $19,254 DOWN 228
Bitcoin: afternoon price: $19,254 DOWN 228
Platinum price closing DOWN 19.65 AT $899.65
Palladium price; closing DOWN $39.40 at $2156.25
END
Due to the huge rise in the dollar, we must look at gold and silver in currencies other than the dollar to understand where we are heading
I will now provide gold in Canadian dollars, British pounds and Euros/closing ACCESS
CANADIAN GOLD $2296.90 CDN DOLLARS PER OZ DOWN $25.75 CDN DOLLARS
BRITISH GOLD IN POUNDS: 1507.00 POUNDS PER OZ DOWN 18.57 BRITISH POUNDS PER OZ/
EURO GOLD: 1717.50 EUROS PER OZ// DOWN 18.30 EUROS PER OZ///
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EXCHANGE: COMEX
EXCHANGE: COMEX
CONTRACT: OCTOBER 2022 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,700.500000000 USD
INTENT DATE: 10/07/2022 DELIVERY DATE: 10/11/2022
FIRM ORG FIRM NAME ISSUED STOPPED
072 C GOLDMAN 1
118 C MACQUARIE FUT 8
132 C SG AMERICAS 138 3
323 H HSBC 2
624 C BOFA SECURITIES 1
624 H BOFA SECURITIES 29
661 C JP MORGAN 81
800 C MAREX SPEC 6 17
880 C CITIGROUP 2
TOTAL: 144 144
MONTH TO DATE: 21,519
JPMORGAN STOPPED 81/144
GOLD: NUMBER OF NOTICES FILED FOR OCT CONTRACT: 144 NOTICES FOR 14400 OZ //.4477 TONNES
total notices so far: 21,519 contracts for 2,151,900 oz (66.933 tonnes)
SILVER NOTICES: 38 NOTICES FILED FOR 190,000 OZ/
total number of notices filed so far this month 359 : for 1,795,000 oz
END
Russia is a major supplier of silver to London while Mexico supplies the COMEX
With the sanctions, London has no way to obtain silver other than compete with NY.
GLD
WITH GOLD DOWN $33.50
WITH RESPECT TO GLD WITHDRAWALS: (OVER THE PAST FEW MONTHS):
GOLD IS “RETURNED” TO THE BANK OF ENGLAND WHEN CALLING IN THEIR LEASES: THE GOLD NEVER LEAVES THE BANK OF ENGLAND IN THE FIRST PLACE. THE BANK IS PROTECTING ITSELF IN CASE OF COMMERCIAL FAILURE
ALSO INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD//
BIG CHANGES IN GOLD INVENTORY AT THE GLD: ////A WITHDRAWAL OF 2.03 TONNES FROM THE GLD/
INVENTORY RESTS AT 944.31 TONNES
Silver//SLV
WITH NO SILVER AROUND AND SILVER DOWN 65 CENTS
AT THE SLV// ://NO CHANGES IN SILVER INVENTORY AT THE SLV//:
INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV
CLOSING INVENTORY: 473.130 MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY A SMALL SIZED 83 CONTRACTS TO 126,402 AND FURTHER FROM THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THE TINY LOSS IN COMEX OI WAS ACCOMPLISHED DESPITE OUR HUGE $0.37 LOSS IN SILVER PRICING AT THE COMEX ON FRIDAY. OUR BANKERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.37). HOWEVER OUR SPEC SHORTS ARE DESPERATELY TRYING TO COVER THEIR MASSIVE COMEX OI SHORTFALL. BANKERS CONTINUE TO BE PURCHASERS OF NET COMEX LONGS.
WE MUST HAVE HAD:
I) MINIMAL SPECULATOR SHORT COVERINGS ////CONTINUED BANKER OI COMEX ADDITIONS /// SOME NEWBIE SPEC SHORT ADDITIONS. II) WE ALSO HAD SOME REDDIT RAPTOR BUYING//. iii) A SMALL ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 1.580 MILLION OZ FOLLOWING A 185,000 OZ QUEUE JUMP / // V) SMALL SIZED COMEX OI LOSS/ MINIMAL SPEC COVERING THEIR SHORTS.
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL: –263
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS SEPT. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF OCT:
TOTAL CONTRACTS for 8 days, total 49,775 contracts: 24.887 million oz OR 3.1109MILLION OZ PER DAY. (622 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 24.887 MILLION OZ
.
LAST 17 MONTHS TOTAL EFP CONTRACTS ISSUED IN MILLIONS OF OZ:
MAY 137.83 MILLION
JUNE 149.91 MILLION OZ
JULY 129.445 MILLION OZ
AUGUST: MILLION OZ 140.120
SEPT. 28.230 MILLION OZ//
OCT: 94.595 MILLION OZ
NOV: 131.925 MILLION OZ
DEC: 100.615 MILLION OZ
JAN 2022// 90.460 MILLION OZ
FEB 2022: 72.39 MILLION OZ//
MARCH: 207.430 MILLION OZ//A NEW RECORD FOR EFP ISSUANCE
APRIL: 114.52 MILLION OZ FINAL//LOW ISSUANCE
MAY: 105.635 MILLION OZ//
JUNE: 94.470 MILLION OZ
JULY : 87.110 MILLION OZ
AUGUST: 65.025 MILLION OZ
SEPT. 74.025 MILLION OZ///FINAL
OCT. 24.887 MILLION OZ INITIAL
RESULT: WE HAD A SMALL SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 83 WITH OUR CONSIDERABLE $0.37 LOSS IN SILVER PRICING AT THE COMEX// FRIDAY.,. THE CME NOTIFIED US THAT WE HAD A SMALL SIZED EFP ISSUANCE CONTRACTS: 350 CONTRACTS ISSUED FOR DEC AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH EXITED OUT OF THE SILVER COMEX TO LONDON AS FORWARDS THE DOMINANT FEATURE TODAY: /SOME BANKER ADDITIONS // SMALL SHORT ADDITIONS//SMALL NEWBIE SPEC LONG ADDITIONS// /// WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR OCT. OF 1.580 MILLION OZ FOLLOWED BY TODAY’S 185,000 QUEUE JUMP .. WE HAD A SMALL SIZED GAIN OF 267 OI CONTRACTS ON THE TWO EXCHANGES FOR 1.335 MILLION OZ..
WE HAD 38 NOTICE(S) FILED TODAY FOR 190,000 OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST ROSE BY A SMALL SIZED 6 CONTRACTS TO 433,153 AND CLOSER TO THE RECORD (SET JAN 24/2020) AT 799,541 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110. WE WILL PROBABLY SEE THE COMEX OI FALL TO AROUND 380,000 AS OUR SPECS GET ANNIHILATED.
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED — -750 CONTRACTS.
.
THE TINY SIZED INCREASE IN COMEX OI CAME DESPITE OUR LOSS IN PRICE OF $10.70//COMEX GOLD TRADING/FRIDAY // SOME SPECULATOR SHORT COVERINGS ACCOMPANYING OUR FAIR SIZED EXCHANGE FOR PHYSICAL ISSUANCE./. WE HAD ZERO LONG LIQUIDATION //AND CONTINUED ADDITIONS TO OUR BANKER LONGS!! THE COMEX WILL BLOW UP AS THE SPECS CANNOT DELIVER GOLD TO OUR BANKER LONGS.
WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR OCT. AT 66.099 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S QUEUE JUMP OF 7300 OZ//NEW STANDING 67.906 TONNES (QUEUE JUMPING = EXERCISING LONDON BASED EFP’S WILL CONTINUE UNTIL MONTH’S END)
YET ALL OF..THIS HAPPENED DESPITE OUR LOSS IN PRICE OF $10.70 WITH RESPECT TO THURSDAY’S TRADING
WE HAD A FAIR SIZED GAIN OF 2192 OI CONTRACTS 6.818 PAPER TONNES) ON OUR TWO EXCHANGES..
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 1436 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 433,253
IN ESSENCE WE HAVE A FAIR SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 1442 CONTRACTS WITH 6 CONTRACTS INCREASED AT THE COMEX AND 1436 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 1442 CONTRACTS OR 4.48 TONNES.
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (1436) ACCOMPANYING THE SMALL SIZED GAIN IN COMEX OI (6): TOTAL GAIN IN THE TWO EXCHANGES 1442 CONTRACTS. WE NO DOUBT HAD 1) MINOR SPECULATOR SHORT COVERINGS// CONTINUED GOOD BANKER ADDITIONS///NEWBIE SPEC SHORT ADDITIONS ,2.) STRONG INITIAL STANDING AT THE GOLD COMEX FOR OCT. AT 66.099 TONNES FOLLOWED BY TODAY’S 7300 OZ QUEUE JUMP///NEW STANDING 67.906 TONNES//. 3) ZERO LONG LIQUIDATION //// //.,4) SMALL SIZED COMEX OPEN INTEREST GAIN 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL/
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