by Harvey Organ, Harvey Organ Blog:
GOLD CLOSED DOWN $6.95 TO $1918.20//SILVER CLOSED DOWN 25 CENTS TO $21,59//PLATINUM CLOSED DOWN $12.80 TO $962.75//PALLADIUM FINISHED THE DAY DOWN $65.25 TO $1363.25//BANKING CRISES CONTINUE WITH A RESCUE ATTEMPT AT SMALL BANKS WITH A MISMATCH OF SHORT TERM AND LONG TERM DEBT//CREDIT SUISSE PROBLEMS CONTINUE UNABATED AS THEY SEEM TO HAVE A MAJOR DERIVATIVE PROBLEM//UKRAINE VS USA// SURPRISINGLY THE ECB RAISES ITS RATE BY .50% DESPITE THE CREDIT SUISSE PROBLEMS//PHLLY MFG INDEX FALLS AGAIN BADLY
TRUTH LIVES on at https://sgtreport.tv/
GOLD PRICE CLOSED: DOWN $6.95 at $1918.20
SILVER PRICE CLOSED: DOWN $0.25 to $21.59
Access prices: closes : 4: 15 PM
Gold ACCESS CLOSE 1919.60
Silver ACCESS CLOSE: 21.69
Bitcoin morning price:, $24,870 UP 518 Dollars
Bitcoin: afternoon price: $24,982 up 630 dollars
Platinum price closing $962.75 DOWN $12.50
Palladium price; closing $1363.25 DOWN $65.25
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/4: 15 PM ACCESS
CANADIAN GOLD: $2,633.35 DOWN $5.50 CDN dollars per oz
BRITISH GOLD: 1584,75 DOWN 7,25 pounds per oz//(ALL TIME HIGH//1590.35)
EURO GOLD: 1783,95 DOWN 5.65 euros per oz //(ALL TIME HIGH//1812.70)
COMEX DATA
EXCHANGE: COMEX
COMEX//NOTICES FILED
EXCHANGE: COMEX
CONTRACT: MARCH 2023 COMEX 100 GOLD FUTURES
SETTLEMENT: 1,926.600000000 USD
INTENT DATE: 03/15/2023 DELIVERY DATE: 03/17/2023
FIRM ORG FIRM NAME ISSUED STOPPED
435 H SCOTIA CAPITAL 274
624 H BOFA SECURITIES 19
657 C MORGAN STANLEY 11
661 C JP MORGAN 79
661 H JP MORGAN 409
732 C RBC CAP MARKETS 7
737 C ADVANTAGE 28 7
905 C ADM 54
TOTAL: 444 444
TOTAL: 471 471
MONTH TO DATE: 3,807
JPMORGAN stopped 1/471 contracts
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GOLD: NUMBER OF NOTICES FILED FOR MAR/2023. CONTRACT: 444 NOTICES FOR 44400 OZ or 1.3810 TONNES
total notices so far: 4251 contracts for 425,100 oz (13222 tonnes)
SILVER NOTICES: 4 NOTICE(S) FILED FOR 20,000 OZ/
total number of notices filed so far this month : 3010 for 15,050,000 oz
END
GLD
WITH GOLD DOWN $6.95
INVESTORS SWITCHING TO SPROTT PHYSICAL (PHYS) INSTEAD OF THE FRAUDULENT GLD
/HUGE CHANGES IN GOLD INVENTORY AT THE GLD://////A DEPOSIT OF 1.45 TONNES OF GOLD INTO THE GLD//
INVENTORY RESTS AT 914.72TONNES
Silver//SLV
WITH NO SILVER AROUND AND SILVER DOWN $.25
AT THE SLV// HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF OF 5,009,000 OZ INTO THE SLV: INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV
CLOSING INVENTORY: 473.226. MILLION OZ
Let us have a look at the data for today
SILVER//OUTLINE
SILVER COMEX OI FELL BY AN FAIR SIZED 459 CONTRACTS TO 121,313 AND FURTHER FROM THE RECORD HIGH OI OF 244,710, SET FEB 25/2020 AND THIS FAIR SIZED LOSS IN COMEX OI WAS ACCOMPLISHED WITH OUR $0.07 LOSS IN SILVER PRICING AT THE COMEX ON WEDNESDAY . WE AGAIN ARE CLOSING IN ON OUR NEW LOW COMEX OI SILVER SET AT 121,299 CONTRACTS , MARCH 3/2023. OUR BANKERS WERE SUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT FELL BY $0.07). BUT WERE UNSUCCESSFUL IN KNOCKING ANY SPEC LONGS AS WE HAD A VERY STRONG GAIN ON OUR TWO EXCHANGES 1590 CONTRACTS. WE HAD 0 CRIMINAL NOTICES FILED IN THE CATEGORY OF EXCHANGE FOR RISK TRANSFER ( THE TOTAL ISSUED IN THIS CATEGORY SO FAR THIS MONTH TOTAL 1 MILLION OZ.) WE HAVE FINISHED WITH OUR SPECS BEING SHORT AS THEY COVERED WITH THE RISE IN PRICE IN JANUARY . WE HAVE NOW RETURNED TO OUR USUAL AND CUSTOMARY SCENARIO: BANKERS SHORT AND SPECS LONG.
WE MUST HAVE HAD:
A GIGANTIC ISSUANCE OF EXCHANGE FOR PHYSICALS( 1883 CONTRACTS) iiii) AN INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 15.58 MILLION OZ(FIRST DAY NOTICE) FOLLOWED BY TODAY’S E.F.P. JUMP TO LONDON OF 5,000 OZ//NEW STANDING: 15.280 MILLION OZ + THE 1.0 MILLION OZ OF EXCHANGE FOR RISK//THUS TOTAL NEW STANDING 16.280 MILLION OZ/ //// V) FAIR SIZED COMEX OI LOSS/ GIGANTIC SIZED EFP ISSUANCE/
I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL –163 CONTRACTS
HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS MAR. ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF MAR:
TOTAL CONTRACTS for 12 days, total 10,094 contracts: OR 55.470 MILLION OZ . (841 CONTRACTS PER DAY)
TOTAL EFP’S FOR THE MONTH SO FAR: 55.470 MILLION OZ
.
LAST 23 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. 29.017 MILLION OZ FINAL
NOV: 134.290 MILLION OZ//FINAL
DEC, 61.395 MILLION OZ FINAL
JAN 2023/// 53.070 MILLION OZ //FINAL
FEB: 2023: 100.105/ MILLION OZ/FINAL//MUCH STRONGER ISSUANCE VS THE LATTER TWO MONTHS.
MARCH 2023: 55.47 MILLION OZ//INITIAL//ON PAR WITH LAST MONTH
RESULT: WE HAD A FAIR SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 459 CONTRACTS WITH OUR $0.07 LOSS IN SILVER PRICING AT THE COMEX//WEDNESDAY.,. THE CME NOTIFIED US THAT WE HAD A HUMONGOUS SIZED EFP ISSUANCE CONTRACTS: 1883 CONTRACTS ISSUED FOR MAY AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH EXITED OUT OF THE SILVER COMEX TO LONDON AS FORWARDS./ WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR MAR OF 15.58 MILLION OZ//FIRST DAY NOTICE// FOLLOWED BY TODAY’S 5,000 OZ E.F.P. JUMP TO LONDON (WHICH DECREASES THE AMOUNT OF SILVER STANDING) + 1.0 MILLION OF EXCHANGE FOR RISK ISSUED EARLY IN MARCH (INCREASES THE AMOUNT OF SILVER STANDING) //NEW STANDING 16.280 MILLION OZ .. WE HAVE A VERY STRONG SIZED GAIN OF 1424 OI CONTRACTS ON THE TWO EXCHANGES
WE HAD 4 NOTICE(S) FILED TODAY FOR 20,000 OZ
THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.
GOLD//OUTLINE
IN GOLD, THE COMEX OPEN INTEREST FELL BY A FAIR SIZED 3344 CONTRACTS TO 455,720 AND FURTHER FROM THE RECORD (SET JAN 24/2020) AT 799,541 AND PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110.
THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED 507 CONTRACTS.
.
WE HAD A FAIR SIZED DECREASE IN COMEX OI ( 3344 CONTRACTS) DESPITE OUR $18.75 GAIN IN PRICE. WE ALSO HAD A SMALL INITIAL STANDING IN GOLD TONNAGE FOR MAR. AT 4.9953 TONNES ON FIRST DAY NOTICE FOLLOWED BY TODAY’S HUGE QUEUE JUMP OF 49,700 OZ (1.546 TONNES) //(QUEUE JUMPING = EXERCISING LONDON BASED EFP’S, ATTACHED TO COMEX CONTRACTS ) (EFP is the transfer of COMEX contracts immediately to London for potential gold deliveries originating from London).
YET ALL OF..THIS HAPPENED WITH OUR $18.75 GAIN IN PRICE WITH RESPECT TO WEDNESDAY’S TRADING
WE HAD A SMALL SIZED GAIN OF 1978 OI CONTRACTS (3,046 PAPER TONNES) ON OUR TWO EXCHANGES
E.F.P. ISSUANCE
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A GOOD SIZED 4322 CONTRACTS:
The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 455,729
IN ESSENCE WE HAVE A FAIR SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 978 CONTRACTS WITH 3344 CONTRACTS DECREASED AT THE COMEX AND 4372 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 978 CONTRACTS OR 3.046 TONNES.
CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES
WE HAD A GOOD SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (4322 CONTRACTS) ACCOMPANYING THE FAIR SIZED LOSS IN COMEX OI (3,344) TOTAL GAIN IN THE TWO EXCHANGES 978 CONTRACTS. WE HAVE ( 1) NOW RETURNED TO OUR NORMAL FORMAT OF BANKERS GOING SHORT AND SPECULATORS GOING LONG ,2.) FAIR INITIAL STANDING AT THE GOLD COMEX FOR MAR. AT 4.9953 TONNES FOLLOWED BY TODAY’S 49,700 OZ QUEUE JUMP//NEW STANDING 13.698 TONNES // ///3) ZERO LONG LIQUIDATION //4) FAIR SIZED COMEX OPEN INTEREST LOSS// 5) GOOD ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER/
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