Good evening Ladies and Gentlemen:
Gold: $1,244.60 UP $4.50 (comex closing time)
Silver 16.42 up 8 cents
In the access market 5:15 pm
i) the June gold contract is an active contract and the second biggest delivery month of the year following December. Friday night, the bankers first day delivery issuance to our longs to be settled on June 1 was huge: the number was 3,508 gold notices for 350,800 oz or 10.9 tonnes of gold. On day two, we had another huge number of gold notices filed at 2281 for 228100 oz or 7.09 tonnes of gold.On day 3,THURSDAY, we had another whopper of 1969 notices for 196,900 oz or 6.12 tonnes.FRIDAY, saw another huge 1026 notices filed for 102600 oz (3.19 tonnes). Then on Friday night we had a whopping 2981 notices filed for Monday totaling 2981 contracts for 298100 oz. Thus in 5 days a total of 11,765 notices have been filed for 1,176,500 oz or 36.59 tonnes. WHAT IS MORE FASCINATING WAS THE FRONT JUNE MONTH INCREASED IN NET OI BY 678 CONTRACTS ON THURSDAY(67,800 OZ). ON FRIDAY IT INCREASED BY 78 CONTRACTS OR 7800 OZ AND TODAY IT INCREASED BY 264 CONTRACTS OR 26400 OZ. THE ENTITY STANDING DOES NOT WANT FIAT AND IT SURE LOOKS LIKE A SOVEREIGN (CHINA) IS STANDING FOR GOLD.
Let us have a look at the data for today
Several months ago the comex had 303 tonnes of total gold. Today, the total inventory rests at 269.211 tonnes for a loss of 34 tonnes over that period
In silver, the total open interest FELL by 697 contracts DOWN to 194,908 DESPITE THE FACT THAT THE PRICE OF SILVER WAS UP by 34 cents with respect to FRIDAY’S trading.In ounces, the OI is still represented by just under 1 BILLION oz i.e. 0.974 BILLION TO BE EXACT or 139% of annual global silver production (ex Russia &ex China)
In silver we had 0 notices served upon for nil oz.
In gold, the total comex gold OI ROSE by a CONSIDERABLE 15,163 contracts UP to 496,259 as the price of gold was UP $30.30 with FRIDAY’S trading(at comex closing).
With respect to our two criminal funds, the GLD and the SLV:
WITH RESPECT TO GLD
We had no changes in inventory at the GLD/Inventory rests at 881.44 tonnes
And now for SLV
We had no changes in inventory at the SLV/Inventory/Tonight it rests at 337.299 million oz.
Both the GLD and SLV are massive frauds as they have no metal behind them!
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver FALL by 697 contracts DOWN to 194,908 as the price of silver was UP by 34 cents with FRIDAY’S trading. The gold open interest ROSE by 15,163 contracts UP to 496,259 as gold was UP $30.30.90 ON FRIDAY.
2 a) Gold trading overnight, Goldcore
2b) Gold trading earlier this morning;
(Mark OByrne and zero hedge) OFF TODAY
3. ASIAN AFFAIRS
i)Late SUNDAY night/ MONDAY morning: Shanghai closed DOWN BY 4.58 PTS OR 0.16% /Hang Sang closed UP 82.98 OR 0.40%. The Nikkei closed DOWN 62.20 POINTS OR 0.37% Australia’s all ordinaires CLOSED UP 0.78% Chinese yuan (ONSHORE) closed UP at 6.5669 Oil FELL to 49.09 dollars per barrel for WTI and 50.16 for Brent. Stocks in Europe MIXED . Offshore yuan trades 6.5706 yuan to the dollar vs 6.5669 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS)
REPORT ON JAPAN SOUTH KOREA AND CHINA
a) REPORT ON JAPAN
Hawkish member of the Bank of Japan, Takehiro Sato has just warned that Japan can face a shock similar to that experienced in 20003 with a collapsing bond market. He is worried about Japanese banks who have piled into Japanese 10 yr bonds despite a negative yield. Many financial institutions have bought 30 yr bonds seeking a positive yield. Once Japan runs out of room to buy additional bonds in 2017, the rise in yields will bankrupt the banks.
( zero hedge)
b) REPORT ON CHINA
Goldman Sachs author Tang, discovers that the real figure for Chinese Debt outstanding is far greater than anyone thought. My using “money” instead of credit, he finds that last yr equiv of $3.8 trillion USA was issued approximately $.92 trillion grater than thought.
( zero hedge)
4. EUROPEAN AFFAIRS
Ai)Last night a new ITV poll was released and it downed that 45% of the voters seek a BREXIT and only 41% a BREMAIN. The pound tumbled from the 1.45 handle down into the 1.43 level.If UK leaves the EU, gold will certainly see a huge beneficiary!
( zero hedge)
Aii)Both sides go ballistic as Brexit odds hit record highs
(courtesy zero hedge)
ii)The Swiss voters got it right: in a landslide vote 77% voted to reject helicopter money
iii)It is not just the USA that is seeing anti establishment parties win elections. In Italy the 5 star candidate takes the lead in the big mayoralty election in Rome:( zero hedge)
5.RUSSIAN AND MIDDLE EASTERN AFFAIRS
A good description of what is going to happen in the oil markets once Libya, Canada and Nigeria get their oil back on stream:
( Rakesh Upadhyay/OilPrice.com)
i)Not good: the Venezuela national guard now assaults members of the press covering the story on the devastation inside Venezuela
( zero hedge)
ii)Michael Snyder gives his 8 lessons of what we can learn from the complete Venezuelan meltdown:
Trouble for the new leader of Brazil! Temer convicted of breaking election laws. Thousnads March for democracy in Brazil
( Common Dream/Knight)
9. PHYSICAL MARKETS
i)An extremely important interview of Andre Maguire. Andrew is seeing things at the LBMA similar to what I am witnessing at the comex: basically they are out of gold/silver.He also states that the government in China has gone to the airwaves to tell citizens to buy gold. He is of the opinion that China has now put a floor on the price of gold and the resetting of the price higher is to occur shortly
( Kingworldnews/Andrew Maguire/GATA)
ii)The LBMA is supplying gold and silver data that is full of mistkaes. Did you expect anything less?
( Ronan Manly/BullionStar)
iii)This is also a must read. Greyerz indicates the true picture of the job numbers and it was awful. If you include the 244,000 fictitious jobs created through the B/D plug and the 484,000 poor souls who left the job scene because there was not a job for them, then the total number of full time workers who do not have a job increased to 690,000
a must read..
( Von Greyerz/Kingworldnews)
USA STORIES WHICH MAY INFLUENCE THE PRICE OF GOLD/SILVER
i)Fixed income bond fund, Pine River is closing down and returning 1.6 billion dollars to customers as it cannot make money:
( zero hedge)
ii)Let’s close with this great piece from David Stockman who mocks Janet Yellen’s speech in Philadelphia today: