Gold:1356.10 down $8.30
Silver 20.44 down 22 cents
In the access market 5:15 pm
Gold: 1358.20
Silver: 20.40
.
For the August gold contract month, we had a large 732 notices served upon for 73,200 ounces. The total number of notices filed so far for delivery: 9657 for 965,700 oz or tonnes or 30.037 tonnes
In silver we had 19 notices served upon for 95,000 oz. The total number of notices filed so far this month: 140 for 700,000 oz.
I wrote the following yesterday:
“The way that silver lagged behind gold today, it sure looks like our criminal banks will try another raid tomorrow on our precious metals.”
The colluding crooked banks did not disappoint me with their raid on gold and silver today.
Let us have a look at the data for today
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In silver, the total open interest ROSE BY A CONSIDERABLE 2,553 contracts UP to 224,540 AND AN ALL TIME NEW ALL TIME RECORD AS THE PRICE OF SILVER ROSE BY 20 CENTS WITH YESTERDAY’S TRADING.In ounces, the OI is still represented by just over 1 BILLION oz i.e. 1.123 BILLION TO BE EXACT or 160% of annual global silver production (ex Russia &ex China).
In silver we had 120 notices served upon for 600,000 oz
In gold, the total comex gold ROSE BY A HUGE 12,547 contracts as that the price of gold ROSE by $13.00 yesterday. The total gold OI stands at 582,211 contracts.
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With respect to our two criminal funds, the GLD and the SLV:
GLD
we had A BIG change, a deposit of 5.62 tonnes of gold inventory . /
Total gold inventory rest tonight at: 969.65 tonnes
SLV
we had no changes in the SLV, the SILVER INVENTORY AT THE SLV
rests at 350.815 million oz.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver ROSE by 2553 contracts UP to 224,540 as the price of silver ROSE BY 20 cents with YESTERDAY’S trading.The gold open interest ROSE by A HUGE 12,547 contracts UP to 582,211 as the price of gold ROSE by $13.00 WITH YESTERDAY’S TRADING.
(report Harvey).
2 a) Gold/silver trading overnight Europe, Goldcore
(Mark OByrne/zerohedge
2b FRBNY report on earmarked gold removed from its vaults:
(Harvey)
3. ASIAN AFFAIRS
i)Late TUESDAY night/WEDNESDAY morning: Shanghai closed UP 7.18 POINTS OR 0.24%/ /Hang Sang closed down 390.02 points or 1.76%. The Nikkei closed down 308.64 POINTS OR 1.86% Australia’s all ordinaires CLOSED down 1.35% Chinese yuan (ONSHORE) closed UP at 6.6311/Oil rose to 39.83 dollars per barrel for WTI and 42.08 for Brent. Stocks in Europe ALL mixed . Offshore yuan trades 6.6356 yuan to the dollar vs 6.6311 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS SLIGHTLY AS CHINA TRIES TO STOP MORE USA DOLLARS LEAVING THEIR SHORES
REPORT ON JAPAN SOUTH KOREA AND CHINA
a) REPORT ON JAPAN
Nomura’s top credit analyst predicts the 30 yr JAPANESE bond yield will plunge to zero
( zero hedge)
b) REPORT ON CHINA
I do not like what I see here: China’s Defense Minister warns to prepare for war at sea:
( zero hedge)
4 EUROPEAN AFFAIRS
Wow! for the 3rd day in a row, Italy’s largest bank, Unicredit is halted limit down as the entire European banking system has totally failed. The way the banking shaes are behaving,it seems that want a bail in or out!
( zero hedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
none today
6.GLOBAL ISSUES
Well, it did not take long for the new 15% tax on housing in Vancouver( if the buyer is foreign) to have a deleterious effect in the housing market as Chinese citizens walk away from their deposit instead of paying the tax. This will no doubt cause a ripple effect of cascading defaults
( zerohedge)
7.OIL ISSUES
i)Cushing OK has a surprisingly large drawdown. However DOE records a big buildup.Down goes oil!
( zero hedge)
ii) Then for no apparent reason, the algos bought WTI, driving the price equal to yesterday’s highs as the crooks run their stops.
( zero hedge)
8.EMERGING MARKETS
none today
9.PHYSICAL STORIES
i)In the latest chapter ( the 10 gold double eagle gold coins taken in 1933) has the USA winning ownership of the coins.
( Reuters/Stempel)
ii)Ronald Stoeferle explains why “gold is back”
( zero hedge)
iii)A JPM analyst is upset stating that central banks are rigging markets right after BREXIT.
( Chris Powell/GATA)
iv)Interesting, the GLD leaves out how much gold is stored at the Bank of England. New SEC rules stipulate that the GLD must report how much gold is stored at its primary level and at the subcustodian level, namely the Bank of England
( Ronan Manly)
10.USA STORIES WHICH MAY INFLUENCE THE PRICE OF GOLD/SILVER
i)Auto sales has been a bright light in the economy. It seems that USA auto sales are now faltering badly:
( zero hedge)
ii)The private ADP report and it’s findings show that it lags payrolls. Goods producingjobs as well as constructions jobs falter
( zero hedge/ADP private jobs reports)
iii)My goodness: this is going to go over well during the election: The White house provided 1.7 billion USA taxpayer money over to Tehran to ensure the nuclear accord’s success:
( zero hedge)
iv)Service PMI or ISM service data show either the economy is flat or down:
( Service PMI/ISM service/zero hedge)
v)Strange reporting on this darling company owned by many hedge funds. They have burned over 500 million dollars and has now reached its bank funding limit.
It reported that it delivered fewer cars because it was producing more cars???
Non GAAP loses were 1.02 per share. Surprisingly the stock is up in after hours
(courtesy zero hedge)