JULY 20/SILVER OI SETS ANOTHER RECORD HIGH AT 219,206 DESPITE SILVER’S FALL YESTERDAY/GOLD OPEN INTEREST RISES TO 617,069 FOR A GAIN OF 2402 CONTRACTS/ AGAIN THE FRONT JULY MONTH SEES A HUGE AMOUNT OF GOLD STANDING AT 16.808 TONNES/TURKISH LIRA CRASHES AS ERDOGAN EMBARKS ON A NEW 3 MONTH EMERGENCY/ S & P DOWNGRADES TURKEY TO BB WITH NEGATIVE OUTLOOK/HSBC’S HEAD OF GLOBAL TRADING IN FX ARRESTED IN NY (CRIMINAL PROBE ON MANIPULATION OF LIBOR)
Gold:1318.80 down $12.70
Silver 19.58 DOWN 40 cents
In the access market 5:15 pm
Gold: 1315.80
Silver: 19.40
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For the July gold contract month, we had a huge 269 notices served upon for 26,900 ounces. The total number of notices filed so far for delivery: 5329 for 532,900 oz or 16.575 tonnes
In silver we had 38 notices served upon for 190,000 oz. The total number of notices filed so far this month for delivery: 2106 for 10,530,000 oz
Silver today at the comex recorded an all time record for open interest and yet the price is 29 dollars cheaper. It defies commodity law!
Last night, I was up in the early hours when I saw the raid orchestrated by our crooks. I took a look at the daily bulletin which is an estimated OI and then I knew the reason for the raid:
- the high open interest for silver (and a record high) despite silver being 29 dollars cheaper when it had its former high OI in 2011.
- the front July contract month in gold saw a huge gain in an amount standing. Now we have close to 17 tonnes standing in this a non active month. I wonder what August will bring…
and that is the reason for today’s raid!
Today no doubt was the beginning of options expiry week where we will see continual pelting of gold/silver until the end of the month.
I would like to urge you, investors not to play the comex as it is a crooked casino. However if you do play, you must take physical delivery. If everybody takes delivery on these crooks, the game will be over in a hurry.
Let us have a look at the data for today
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Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 307.70 tonnes for a gain of 5 tonnes over that period
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In silver, the total open interest ROSE BY 1597 contracts UP to 219,206, AND A NEW ALL TIME RECORD. THE OI ROSE IN CONTRAST TO THE PRICE OF SILVER WHICH FELL BY 7 CENTS IN YESTERDAY’S TRADING.In ounces, the OI is still represented by just over 1 BILLION oz i.e. 1.096 BILLION TO BE EXACT or 157% of annual global silver production (ex Russia &ex China).
In silver we had 38 notices served upon for 140,000 oz.
In gold, the total comex gold ROSE BY 2,402 contracts as gold rose in price YESTERDAY to the tune of $3.10. The total gold OI stands at 617,069 contracts.
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With respect to our two criminal funds, the GLD and the SLV:
GLD
we had no changes in gold inventory./
Total gold inventory rest tonight at: 965.22 tonnes
SLV
we had no changes into the SILVER INVENTORY TO THE SLV
Inventory rests at 348.580 million oz.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver ROSE by 105 contracts UP to 219,206 as the price of silver FELL BY 7 cents with YESTERDAY’S trading. The gold open interest ROSE by 2402 contracts up to 617,069 as the price of gold ROSE by $3.10 YESTERDAY.
(report Harvey).
2 a) Gold/silver trading overnight Europe, Goldcore
(Mark OByrne/zerohedge
3. ASIAN AFFAIRS
i)Late TUESDAY night/WEDNESDAY morning: Shanghai closed DOWN 8.69 POINTS OR 0.29%/ /Hang Sang closed UP 209.28 OR 0.97%. The Nikkei closed DOWN 41.42 OR 0.25%/ Australia’s all ordinaires CLOSED UP 0.58% Chinese yuan (ONSHORE) closed UP at 6.6755 ON A LITTLE REVALUATION /Oil FELL to 44.64 dollars per barrel for WTI and 46.70 for Brent. Stocks in Europe ALL IN THE GREEN. Offshore yuan trades 6.68161 yuan to the dollar vs 6.6755 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS CONSIDERABLY
REPORT ON JAPAN SOUTH KOREA AND CHINA
a) REPORT ON JAPAN
In a delayed reaction, the USA/Yen shoots up to 107.28 as Kyodo plans on a 20 trilion yen stimulus plan. And gold goes down on this money printing!
( zero hedge)
b) REPORT ON CHINA
4 EUROPEAN AFFAIRS
The IMF are now called “clowns” after they now admit that England will grow much faster with a BREXIT
( zero hedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
i)The total of Turkish civilians now total 50,000 as Turkey is set to unveil ’emergency measures today:
( zero hedge)
ii)a The Turkish lira is crashing to 3.04 to the dollar accompanied by a high risk of default as witnessed by the credit default swaps: Turmoil in Turkey
( zero hedge)
iib) Then S & P lowered the boom on Turkey by downgrading the country to BB with a negative outlook; the Turkish lira then tumbled to a new all time low:
(courtesy zero hedge)
iii)This is a little terrifying: American nukes are just not safe in Turkey anymore!
( FP/Jeffery Lewis)
iv)Here is another odd inconsistency with regards to the staged coup:
v)And with that new 3 month state of emergency, the Lira crashes to 3.10
6.GLOBAL ISSUES
i)Now we have the first arrest in the USA: the global head of FX trading trading fro HSBC: Mark Johnson. You can bet that gold and silver rigging is part of the rigging!
( zerohedge)
ii)A must read from egon Von Greyerz on the six major events that will change history!
( Von Greyerz)
7.OIL ISSUES
More unexpected gasoline inventory build on top of huge production rise as well as buildup in Cushing causes havoc in WTI
(courtesy zero hedge)
8.EMERGING MARKETS
9.PHYSICAL STORIES
BMG exposes the weakness of “paper gold ”
( GATA/)
ii) The Japanese TOCOM goes physical:
(courtesy Dave Kranzler/IRD)
10.USA STORIES WHICH MAY INFLUENCE THE PRICE OF GOLD/SILVER
i)An excellent Bellwether : trucking in the uSA
( Mish Shedlock/Mishtalk)