Gold:1328.30 DOWN $3.00
Silver 20.10 DOWN 18 cents
In the access market 5:15 pm
Gold: 1337.25 (Turkish military)
Silver: 20.22
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And now for the July contract month
For the July gold contract month, we had another monstrous 352 notices served upon for 35,200 ounces. The total number of notices filed so far for delivery: 5032 for 503,200 oz or 15.6576 tonnes
In silver we had 190 notices served upon for 950,000 oz. The total number of notices filed so far this month for delivery: 1780 for 8,900,000 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 305.20 tonnes for a gain of 2 tonnes over that period
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In silver, the total open interest ROSE BY 840 contracts UP to 217,216, AND STILL CLOSE TO AN ALL TIME RECORD. THE OI ROSE IN CONTRAST TO THE PRICE OF SILVER WHICH FELL BY 9 CENTS IN YESTERDAY’S TRADING.In ounces, the OI is still represented by just over 1 BILLION oz i.e. 1.086 BILLION TO BE EXACT or 155% of annual global silver production (ex Russia &ex China).
In silver we had 190 notices served upon for 950,000 oz.
In gold, the total comex gold FELL BY A HUMONGOUS 12,815 contracts despite gold’s FALL in price YESTERDAY to the tune of $11.30. The total gold OI stands at 609,352 contracts. The bankers are to be congratulated for doing another fine criminal job in fleecing unsuspecting GOLD longs. BUT NOT SO FAST WITH RESPECT TO SILVER
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With respect to our two criminal funds, the GLD and the SLV:
GLD
we had no changes in gold inventory./
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 840 contracts UP to 217,216 as the price of silver FELL BY 9 cents with YESTERDAY’S trading. The gold open interest fell by 12,815 contracts down to 609,352 as the price of gold FELL by $11.10 YESTERDAY.
(report Harvey).
2 a) Gold/silver trading overnight Europe, Goldcore
(Mark OByrne/zerohedge
3. ASIAN AFFAIRS
i)Late THURSDAY night/FRIDAY morning: Shanghai closed UP 0.278 POINTS OR 0.01%/ /Hang Sang closed UP 98.19 OR 0.46%. The Nikkei closed UP 111.96 POINTS OR 0.68% Australia’s all ordinaires CLOSED UP 0.33% Chinese yuan (ONSHORE) closed UP at 6.6831 /Oil FELL to 45.40 dollars per barrel for WTI and 47.20 for Brent. Stocks in Europe ALL IN THE RED. Offshore yuan trades 6.6925 yuan to the dollar vs 6.6831 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
b) REPORT ON CHINA
i)China even after a huge influx of cash in June, and a big devaluation of about 10% from the start of the year, saw their economy just muddling along:
a) Chinese GDP rose to 6.7% from expected 6.6%
b)Retail sales better than expected at 10.6%
c) Industrial Production beat at 6.2%
take these figures with a grain of salt!
( zero hedge)
ii)How did China grow? The added a huge amount of cash to stimulate their economy. This will not last
( zero hedge)
4 EUROPEAN AFFAIRS
i)Horrific event in Nice France last night:
Two commentaries
( zero hedge)
ii)Look who is lining up to be first in order to pass a trade deal with the UK. You will see almost all countries rush to make deals. The BREXIT will have no effect on England and will only benefit them as I have outlined to you.
( zerohedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
Oh my goodness! We have just got a military coup in Turkey: Martial law declared
(courtesy zero hedge)
6.GLOBAL ISSUES
Global corporate defaults hit 100 and is on a pace to surpass its financial crisis record:
( zero hedge)
7.OIL ISSUES
Boy this is fastest pace of rig counts in over 4 years:
(courtesy zero hedge)
8.EMERGING MARKETS
none today
9. PHYSICAL STORIES
i)John Hathaway writes that gold is underowned . We are in a period of extreme global problems and now is the time to accumulate gold.
( John Hathaway/GATA)
ii)After 8 months the gold monetization scheme yields just 3 tonnes. Actually I am even surprised that they received that quantity. Indians know better not to receive paper gold for their treasures.
( Times of India/GATA)
iii)This is the story that has propelled markets around the world for the past 4 days: the introduction of helicopter money. Generally this should be good for gold but the bankers have other thoughts for us:
( Bloomberg/GATA)
iv)Despite massive manipulation in gold and silver, this correlation is quite fascinating.The current TIPS yield is now close to zero at only 3 basis points.
Here is the chart correlation:
(courtesy zero hedge/Gavekal)
10.USA STORIES WHICH MAY INFLUENCE THE PRICE OF GOLD/SILVER
i)Retail sales jump but the rise was mainly on a downward revision in the previous month. Still at recessionary levels;
( zerohedge)
ii)Yesterday we had surging PPI: today a surging CPI as the core jumps to a near 4 yr high as rent rises along with education and medical care.
The Fed has a problem..
( zero hedge)
iii)The all important New York, Empire manufacturing index drops as new orders tumble and worse: labour conditions fall apart..big problems in the New York mfg area:
( Empire /NY mfg index/zero hedge)
iiib)this is a biggy!!
USA industrial production declines for the 10th straight month.It is always manufacturing that carries a country and thus the USA is faltering!
( zero hedge)
iiic) another biggy!
The following is one of my favourite indicators predicting the health of the USA economy. The higher the Business inventories/sales ratio, the greater the chance for a severe recession. The ratio just hit a high of 1.40 signifying a deep recession is forthcoming
( zero hedge)
iii d) The University of Michigan Consumer Expectations or consumer confidence falls to a two yr low:
( zero hedge)
iv)The credit manager’s report shows it’s index crashing to 7 yr lows as new credit is not forthcoming.
( zero hedge)
v)Russia is reportedly set to release Clinton’s intercepted emails through Wikileaks:
vi)Late tonight, the USA released the redacted Saudi 28 pages
(courtesy zero hedge)