Gold:1337.70 down $3.70
Silver 18.84 down 46 cents
In the access market 5:15 pm
For the August gold contract month, we had a good sized 46 notices served upon for 4600 ounces. The total number of notices filed so far for delivery: 13126 for 1,312,600 oz or tonnes or 40.827 tonnes. The total amount of gold standing for August is 42.777 tonnes.
In silver we had 0 notices served upon for nil oz. The total number of notices filed so far this month: 471 for 2,355,000 oz.
Today the raid orchestrated by the crooks was aimed at silver. The relatively high OI for the new upcoming front month of September as well as huge numbers of options in the money is scaring our bankers and thus the need to raid.
Let us have a look at the data for today
In silver, the total open interest FELL BY 962 contracts DOWN to 205,116 AND MOVING AWAY FROM ITS AN ALL TIME RECORD. ALSO THE HIT ON SILVER WAS TINY COMPARED TO THE HUGE WHACK IN THE PRICE WHICH FELL BY 42 CENTS WITH YESTERDAY’S TRADING.In ounces, the OI is still represented by just over 1 BILLION oz i.e. 1.025 BILLION TO BE EXACT or 146% 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 FELL 5,319 contracts as the price of gold FELL BY $10.80 yesterday . The total gold OI stands at 574,502 contracts.
With respect to our two criminal funds, the GLD and the SLV:
we had a huge change today at the GLD/ a deposit of 2.38 tonnes
Total gold inventory rest tonight at: 958.37 tonnes of gold
we had another huge change into the SLV, a deposit of 3.324 million oz/ THE SLV/Inventory rests at: 358.793 million oz.
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in silver FELL by 962 contracts DOWN to 205,116 despite the fact that the price of silver FELL BY 42 cents with YESTERDAY’S trading.The gold open interest FELL 5,319 contracts DOWN to 574,502 as the price of gold FELL by $10.80 WITH YESTERDAY’S TRADING.
2 a) Gold/silver trading overnight Europe, Goldcore
3. ASIAN AFFAIRS
i)Late SUNDAY night/MONDAY morning: Shanghai closed DOWN 23.30 POINTS OR 0.13%/ /Hang Sang closed DOWN 85.94 points or 0.37%. The Nikkei closed UP 59.81 POINTS OR 0.75% Australia’s all ordinaires CLOSED DOWN 0.21% Chinese yuan (ONSHORE) closed UP at 6.6544/Oil FELL to 47.16 dollars per barrel for WTI and 49.31 for Brent. Stocks in Europe: in the RED . Offshore yuan trades 6.6635 yuan to the dollar vs 6.6544 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE WIDENS SLIGHTLY AS MORE USA DOLLARS LEAVE CHINA’S SHORES
REPORT ON JAPAN SOUTH KOREA AND CHINA
a) REPORT ON JAPAN
More sabre rattling as Japan doubles its F 15 missile payload as escalation in the South China seas escalates:
(courtesy zero hedge)
b) REPORT ON CHINA
i)Hong Kong based Cathay Pacific earnings are totally crushed as corporate travel within China collapses as tourism into China falters terribly
( zero hedge).
ii)The following is a big story. On Oct 1, China will finally see its yuan included in SDR’s. Now we see the IMF has allowed a new Chinese bond offering denominated in SDR’s with interest paid in yuan. As China gets to issue more of these bonds there will be less use of dollars circulating the globe. The unwanted dollars would then return to the USA and inflation and quite possibly hyperinflation will be the inevitable
4 EUROPEAN AFFAIRS
i)The vote for a BREXIT certainly did not cause Armageddon for Britain. However it is giving the country many opportunities to right itself in the face of no growth in Europe. It is proposing to cut corporate taxes something that Sweden is against but cannot do anything about it.
It sure looks like Britain will be the clear winner with its Brexit with the clock set to start by April 2017:
( Mish Shedlock/)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
i)As we outlined to you on Friday, the Vancouver housing market is imploding as the new tax seems to have a devastating effect on the market.
( zero hedge)
ii)Jim Grant on the global economy: the lack of growth and negative interest rates:
In his words: “this will turn out to very bad for many people”
(Jim Grant/Christoph Gisiger/Finanz und Wirtschaft)
i)A very important commentary from Stephen Leeb. He describes how gold will eventually land as the 6th component in the new SDR’s and with that, the only way the world can save itself
( Stephen Leeb/Kingworldnews)
ii)Join Chris Powell, Bill Murphy and all the gang for a gold conference in New Orleans:
(COURTESY CHRIS POWELL/GATA)
10.USA STORIES WHICH MAY INFLUENCE THE PRICE OF GOLD/SILVER
i)Markets reaction to Fisher’s hawkish comments at Jackson Hole that a rate hike in 2016 may be in the offering:
ii)Looks like our good friend Hillary is in trouble with this:
New emails reveal Hillary Clinton provided special access to foundation donors.
The Clinton Foundation is nothing but a racket and Hilary lied about providing everything work related:
( zero hedge)
iii)And late this afternoon Hillary’s troubles continues as the FBI finds 15,000 more business related emails:
( zero hedge)
Let us head over to the comex:
The total gold comex open interest FELL to an OI level of 574,502 for a LOSS of 5,319 contracts as the price of gold fell by $10.80 with Friday’s trading. We are now in the active month of August. As I stated this month:”Somebody big is continually standing for the gold metal and continues to do so in August in the same manner as we have witnessed in May, June and July whereby the front delivery month increases in I standing for metal or a slight contraction. We will no doubt see increases in amount standing in August and probably we will surpass the amount standing on first day notice.
The big active contract month of August saw it’s OI fall by 165 contracts down to 673. We had 157 notices filed upon Friday so we lost 8 gold contracts or an additional 800 oz will not stand for delivery in August and these guys no doubt were cash settled for a fiat bonus. The next contract month of Sept saw it’s OI fall by 42 contracts down to 4408. The September contract still remains extremely elevated and we may have another of those high deliveries rare for a non active month. The next active delivery month is October and here the OI FELL by 277 contracts DOWN to 47,675. The estimated volume today (which is just comex ales during regular business hours of 8:20 until 1:30 pm est) was POOR at 147,918. The confirmed volume yesterday (which includes the volume during regular business hours + access market sales the previous day was FAIR at 192,312 contracts. The comex is not in backwardation.
Today we had 46 notices filed for 4,600 oz of gold.
|Withdrawals from Dealers Inventory in oz||nil OZ|
|Withdrawals from Customer Inventory in oz nil||
|Deposits to the Dealer Inventory in oz||1400.000 oz
|Deposits to the Customer Inventory, in oz||
suppose to be 2,000 kilobars
got wrong weight
|No of oz served (contracts) today||
|No of oz to be served (notices)||
|Total monthly oz gold served (contracts) so far this month||
13,126 contracts (1,312,600 oz)
|Total accumulative withdrawals of gold from the Dealers inventory this month||NIL|
|Total accumulative withdrawal of gold from the Customer inventory this month||538,.816.3 OZ|
THE GOLD COMEX IS AN ABSOLUTE FRAUD. THE USE OF KILOBARS AND EXACT WEIGHTS MAKES THE DATA TOTALLY ABSURD AND FRAUDULENT!!
To me, the only thing that makes sense is the fact that “kilobars” are entries or hypothecated gold sent to other jurisdictions so that they will not be short in their derivatives like in England. This would be similar to the gold used by Jon Corzine. If this is the case, this would be the greatest fraud perpetrated on USA soil.
|Withdrawals from Dealers Inventory||NIL|
|Withdrawals from Customer Inventory||
|Deposits to the Dealer Inventory||
|Deposits to the Customer Inventory||
|No of oz served today (contracts)||
|No of oz to be served (notices)||
|Total monthly oz silver served (contracts)||471 contracts (2,355,000 oz)|
|Total accumulative withdrawal of silver from the Dealers inventory this month||NIL oz|
|Total accumulative withdrawal of silver from the Customer inventory this month||10,150,179.0 oz|