Gold:1331.30 DOWN $11.10
Silver 20.28 DOWN 9 cents
In the access market 5:15 pm
Gold: 1334.25
Silver: 20.30
.
And now for the July contract month
For the July gold contract month, we had a monstrous 612 notices served upon for 61,200 ounces. The total number of notices filed so far for delivery: 4,677 for 467,700 oz or 14.547 tonnes
In silver we had 57 notices served upon for 285,000 oz. The total number of notices filed so far this month for delivery: 1383 for 6,915,000 oz
The following is what I said yesterday and it fully pertains to events today:
“The crooks will now do anything to orchestrate a sell off in our precious metals. They are very concerned about silver as they lean on gold hoping to generate a waterfall in price. The bankers are massively short comex paper and need lower prices so as to cover and ameliorate those losses.”
Everyday that statement seems to be true. Central bankers do not have any above ground supplies of silver like they do with respect to gold. This is their Achilles heal and it will bring them down!”
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 302.22 tonnes for a loss of 1 tonnes over that period
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In silver, the total open interest ROSE BY 1759 contracts UP to 216,376, AND STILL CLOSE TO AN ALL TIME RECORD. THE OI ROSE IN CONTRAST TO THE PRICE OF SILVER WHICH ROSE BY 23 CENTS IN YESTERDAY’S TRADING.In ounces, the OI is still represented by just over 1 BILLION oz i.e. 1.082 BILLION TO BE EXACT or 155% of annual global silver production (ex Russia &ex China).
In silver we had 57 notices served upon for 285,000 oz.
In gold, the total comex gold FELL BY A HUMONGOUS 10,853 contracts despite gold’s RISE in price YESTERDAY to the tune of $8.30. The total gold OI stands at 622,167 contracts. The bankers are to be congratulated for doing another fine criminal job in fleecing unsuspecting longs.
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With respect to our two criminal funds, the GLD and the SLV:
GLD
we had another change in gold inventory./
a massive “paper withdrawal” of 2.37 tonnes.
the GLD is a massive fraud and a massive farce on investors!
Total gold inventory rest tonight at: 962.85 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 1759 contracts UP to 216,376 as the price of silver ROSE BY 23 cents with YESTERDAY’S trading. The gold open interest fell by 10,853 contracts down to 622,167 as the price of gold ROSE by $8.30 YESTERDAY.
(report Harvey).
2 a) Gold/silver trading overnight Europe, Goldcore
(Mark OByrne/zerohedge
3. ASIAN AFFAIRS
i)Late WEDNESDAY night/THURSDAY morning: Shanghai closed DOWN 6.67 POINTS OR 0.22%/ /Hang Sang closed UP 238.69 OR 1.12%. The Nikkei closed UP 154.46POINTS OR 0.95% Australia’s all ordinaires CLOSED UP 0.39% Chinese yuan (ONSHORE) closed UP at 6.6838 /Oil FELL to 45.64 dollars per barrel for WTI and 46.80 for Brent. Stocks in Europe ALL IN THE GREEN. Offshore yuan trades 6.6909 yuan to the dollar vs 6.6838 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE WIDENS SLIGHTLY AS A LITTLE MORE USA DOLLARS LEAVES THEIR SHORES.
REPORT ON JAPAN SOUTH KOREA AND CHINA
a) REPORT ON JAPAN
Helicopter money in Japan: not so fast! They have to change the law and being doing so it causes the fundamental principle of central bank independence from government out the window:
(courtesy zero hedge)
b) REPORT ON CHINA
This news is a “great” reason for gold to be whacked today After the ruling, Beijing unveils a new guided missile destroyer:
( Sputnik)
4 EUROPEAN AFFAIRS
i a.)The pound rises as there was no rate drop and also no new QE is planned. The world is now expecting Japan to lead the way
(zero hedge)
i b)UK property funds are imploding: check the charts:
( zero hedge)
ii)Christensen explains why Italy’s economy is in a mess and how the higher value of the Euro is not helping the “southern block”. It is beneficial to the “northern block” but to the south the higher Euro is equal to tightening
( Lars Christensen/Market Monetarist blog)
iii)A terrific commentary from Simon Black who outlines the origins of Deutsche bank and how the entire global banking system can come crashing down:
( Simon Black/SovereignMan.com)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
Omar, the Chechen is dead in a strike near Mosul. Kerry visits Moscow with an olive branch:
(courtesy zero hedge)
ii)Congress to release the classified 28 pages which details Saudi involvement in 9/11. The next move will be up to Saudi Arabia. When it was announced 4 months ago that the USA might release the documents, the Saudi’s threatened severe retaliation.
( zerohedge)
6.GLOBAL ISSUES
What a great way to show how the earnings throughout the globe are faltering badly and yet stock markets rise:
(courtesy zero hedge)
7.OIL ISSUES
i)An extremely important paper on why oil will fall. China is massively exporting gasoline while at the same time crack spreads are dropping like flies:
( zero hedge)
8.EMERGING MARKETS
none today
9. PHYSICAL STORIES
i)john Embry is in our camp on the expected explosion in the price of silver as the bankers are operating on nothing but silver vapour.
( John Embry/Kingworldnews)
10.USA STORIES WHICH MAY INFLUENCE THE PRICE OF GOLD/SILVER
i)Initial jobless claims hover at 43 year lows despite awful labour market conditions
Nothing but phony data:
( zero hedge)
ii)This leading indicator for consumer inflation came in red hot: Final PPI demand surges the highest since Sept 2012:
( zero hedge)
iii)The following is an extremely important paper and you must all read.
In a nutshell helicopter money is permanent money. It is issued directly by the government to citizens to spend, to the government itself to finance its deficits. Unlike QE the fed has no corresponding asset on its balance sheet. It “buys” no asset. It only has the liability of the huge amount of paper dollars printed to finance stuff. This is where hyperinflation comes upon quickly. Confidence will wane and trouble will ensue.
a must read..
(courtesy David Stockman/ContraCorner)