Gold:1324.40 down $16.20
Silver 18.55 down 36 cents
In the access market 5:15 pm
Gold: 1325.00.40
Silver: 18.58
For the August gold contract month, we had a huge sized 499 notices served upon for 49,900 ounces. The total number of notices filed so far for delivery: 13,886 for 1,388,600 oz or tonnes or 43.191 tonnes. The total amount of gold standing for August is 43.788 tonnes.
In silver we had 10 notices served upon for 50000 oz. The total number of notices filed so far this month: 490 for 2,400,000 oz.
I wrote the following yesterday:
“We now enter in earnest the options expiry for gold and silver. The comex options expiry is: Friday, August 26.
Options expiry for the OTC /London’s LBMA contracts expire at noon August 31.
Today we witnessed gold and silver rise yet gold/silver equity shares falter. Generally this is a good sign that the crooks are orchestrating another raid in the next 24 hours. The silver situation is no doubt bothering them immensely.”
Our friendly bankers did not disappoint us today as they raided gold and silver pretty bad and also caused a huge waterfall in gold/silver equity shares.
The crime scene was simple: It was down in basically a few minutes:
from Dave Kranzler…
“You need look no further than today’s gold fiasco to see what Rick Santelli is referring to. Clearly today was preordained to be prime time Crimex time and the cartel didn’t disappoint. Right out of the Crimex gate a whopping 10,426 Dec. contracts were sold in a millisecond. Those 32 tons of fictitious gold dropped the price $10. Like clockwork another 4,758 contracts (14.87 tons) were sold at 9:04 AM, and a 3rd hit occurred at 10:11 AM, with an additional 4,192 contracts sold. In just those 3 minutes exactly 60 tons of paper gold were sold- another “curiosity” no MSM reporter is interested in exploring.”
Let us have a look at the data for today
.
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In silver, the total open interest ROSE BY 1219 contracts UP to 206,264. THE OPEN INTEREST IN THE FRONT MONTH OF SILVER ROSE CONSIDERABLY DESPITE THE FACT THAT THE SILVER PRICE WAS UP A TINY 7 CENTS IN YESTERDAY’S TRADING .In ounces, the OI is still represented by just over 1 BILLION oz i.e. 1.031 BILLION TO BE EXACT or 147% of annual global silver production (ex Russia &ex China).
In silver we had 10 notices served upon for 50,000 oz
In gold, the total comex gold ROSE 128 contracts as the price of gold ADVANCED BY $2.90 yesterday . The total gold OI stands at 572,973 contracts.
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With respect to our two criminal funds, the GLD and the SLV:
GLD
we had no changse today at the GLD/
Total gold inventory rest tonight at: 958.37 tonnes of gold
SLV
we had no changes in the SLV, / 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 ROSE by 1219 contracts UP to 206,264 despite the fact that the price of silver ROSE BY ONLY 7 cents with YESTERDAY’S trading.The gold open interest ROSE 128 contracts UP to 572,973 as the price of gold ADVANCED $2.90 WITH YESTERDAY’S TRADING.
2 a) Gold/silver trading overnight Europe, Goldcore
(Mark OByrne/zerohedge
3. ASIAN AFFAIRS
i)Late TUESDAY night/WEDNESDAY morning: Shanghai closed DOWN 3.82 POINTS OR 0.12%/ /Hang Sang closed DOWN 178.15 points or 0.77%. The Nikkei closed UP 99.94 POINTS OR 0.61% Australia’s all ordinaires CLOSED UP 0.14% Chinese yuan (ONSHORE) closed UP at 6.6538/Oil FELL to 47.16 dollars per barrel for WTI and 49.27 for Brent. Stocks in Europe: in the GREEN EXCEPT LONDON . Offshore yuan trades 6.67134 yuan to the dollar vs 6.6538 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE WIDENS HUGELY AS MORE USA DOLLARS LEAVE CHINA’S SHORES
REPORT ON JAPAN SOUTH KOREA AND CHINA
a) REPORT ON JAPAN
none today
b) REPORT ON CHINA
none today
4 EUROPEAN AFFAIRS
Central Italy was rocked by a powerful 6.2 magnitude earthquake with after shocks. The tremors were felt in Rome. The epi-center of Amitrice has 1/2 of its town totally destroyed. This was an event that Italy did not need as its economy is suffering terribly:
( zero hedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
i)This morning, Turkish tanks enter Northern Syria in an attempt to clear out ISIS around the town of Jarabulus. The goal is not ISIS in Syria but the Kurds. Good reason today for our banker friends to raid gold and silver
(zero hedge)
ii)Syria condemns the Turkish invasion as Turkish forces strike Kurdish territory inside Syria and not ISIS. Syria is basically one complete quagmire.
6.GLOBAL ISSUES
none today
7.OIL ISSUES
i)Iran rumours have now died. Angola is supplying more oil to China than Saudi Arabia.Huge inventory at API
( zero hedge)
ii)Now it is the DOE to complete the rout on oil:
( zerohedge)
8.EMERGING MARKETS
So much for democracy: Venezuela will “purge” all state workers who sign for a Maduro recall petition;
( zero hedge)
9.PHYSICAL STORIES
i)Earnings fell badly with Glencore as this derivative giant tries to pare its debt. The higher zinc prices now will help them in the short run. The big risk with this company is of course the huge derivative bets placed by them
( BLOOMBERG)
ii)Your criminal act in broad daylight: 10,000 contracts of paper gold shorted by our banker crooks:
( zero hedge)
iii)I would like everyone to read the following and understand that technical analysis in the manipulated gold/silver market (metals and stock) is totally useless!!
( Robert Appel/GATA)
iv)This is what happens when you tax gold importing of 10%: huge smuggling of gold and this has shut out refiners as they cannot get enough ore from legal operations
( Reuters/GATA)
10.USA STORIES WHICH MAY INFLUENCE THE PRICE OF GOLD/SILVER
i)As I have stated in the past, the Clinton Foundation is a corrupt enterprise and this will no doubt be a key to the election. The question is of course, does the USA public care?
( zero hedge)
ii)Fun and games in Illinois as the pension system is completely unfunded by almost 60%.They face crippling tax hikes. No wonder many are leaving the state
( zero hedge)
iii)A huge plunge in existing home sales due to affordability. This is the reason why furniture sales are way down:
(courtesy zero hedge)
iv)This new block technology will be great for the world as countries by-pass the USA / USA dollar. This would be the ultimate death knell of the USA dollar. Finally the USA will have to pay for goods.
( zero hedge)
Let us head over to the comex:
The total gold comex open interest ROSE to an OI level of 572,973 for a GAIN of 128 contracts as the price of gold ROSE by $2.90 with yesterday’s trading. We are now in the active month of August. I wrote the following at the beginning of the month: ” 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. “
Tonight we saw a huge increase in the amount of gold ounces standing as somebody was in great need of gold.
The big active contract month of August saw it’s OI ROSE by 64 contracts UP to 691. We had 261 notices filed upon yesterday so we gained 325 gold CONTRACTS or an additional 32,500 ounces that will stand for delivery in August. The next contract month of Sept saw it’s OI fall by 161 contracts down to 4057. 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 922 contracts DOWN to 46,838. The estimated volume today (which is just comex ales during regular business hours of 8:20 until 1:30 pm est) was GOOD at 256,123, however that volume swelled due to the massive shorts put on by the criminal banks. The confirmed volume yesterday (which includes the volume during regular business hours + access market sales the previous day was POOR at 146,612 contracts. The comex is not in backwardation.
Today we had 499 notices filed for 49,900 oz of gold.
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And now for the wild silver comex results. Total silver OI ROSE by 1,219 contracts from 205,045 UP to 206,264 despite the TINY rise in price of silver to the tune of 7 cents yesterday. We are moving away from the all time record high for silver open interest set on Wednesday August 3: (224,540). The non active month of August saw it’s OI rise by 1 contract up to 16. We had 9 notices served upon yesterday, so we gained 10 silver contract or an additional 50,000 will stand for silver in this non active delivery month of August. The next active month is September and here the OI fell by only 13,752 contracts down to 54,622 .We have 5 days left before first day notice. The volume on the comex today (just comex) came in at 96,603 which is HUGE but many rollovers. The confirmed volume yesterday (comex and globex) was also huge at 94,314( with many rollovers). Silver is not in backwardation. London is in backwardation for several months.
we had 10 notices filed for 50,000 oz
INITIAL standings for AUGUST
August 24.
Gold |
Ounces
|
Withdrawals from Dealers Inventory in oz |
nil OZ |
Withdrawals from Customer Inventory in oz nil |
nil
20,993.95 oz
i) Brinks 52 kilobars
ii) manfra 1 kilobar
iii) Scotia: 600 kilobars
total: 653 kilobars
|
Deposits to the Dealer Inventory in oz |
nil oz |
Deposits to the Customer Inventory, in oz |
nil
|
No of oz served (contracts) today |
261 notices
26,100 oz
|
No of oz to be served (notices) |
192 contracts
(19,200 oz)
|
Total monthly oz gold served (contracts) so far this month |
13,886 contracts (1,388,600 oz)
(43.191 tonnes)
|
Total accumulative withdrawals of gold from the Dealers inventory this month |
NIL |
Total accumulative withdrawal of gold from the Customer inventory this month |
559,.810.3 OZ |
Today: tiny activity at the gold comex AND 3 KILOBAR ENTRIES//
Today we had 0 dealer DEPOSITS
total dealer deposit: NIL 0z
Today we had 0 dealer withdrawals:
total dealer withdrawals: nil oz
We had 0 customer deposit:
Total customer deposits: nil OZ
Today we had 3 CUSTOMER withdrawals AND IT WAS ALL KILOBARS
i) out of Brinks: 1671.800 oz 52 kilobars
ii) out of Manfra: 32.15 oz 1 kilobar
iii) Out of Scotia; 19,290.000 oz 600 kilobars.
Total customer withdrawals 20,993.95 OZ 653 kilobars
Today we had 4 adjustment:
i) Out of BRINKS: 16,546.820oz was adjusted out of the customer and this landed into the dealer account of BRINKS:
ii)Out of Delaware: 100.248 oz was transferred out of the customer account and this landed into the dealer account of Delaware
Note:
If anybody is holding any gold at the comex, you must be out of your mind!!!
since comex gold storage is unallocated , rest assured any gold stored at the comex will be compromised!
I also urge all of you do not place any option trades at the comex as these gangsters will gun you down.
If you are taking delivery of gold/silver please remove it from comex banks and place it in private vaults
Today, 0 notices was issued from JPMorgan dealer account and 0 notices were issued from their client or customer account. The total of all issuance by all participants equates to 499 contracts of which 2 notice was stopped (received) by JPMorgan dealer and 431 notices was stopped (received) by JPMorgan customer account.
To calculate the initial total number of gold ounces standing for the AUGUST contract month, we take the total number of notices filed so far for the month (13,886) x 100 oz or 1,388,600 oz , to which we add the difference between the open interest for the front month of AUGUST (691 CONTRACTS) minus the number of notices served upon today (499) x 100 oz x 100 oz per contract equals 1,407,800 oz, the number of ounces standing in this active month.
Thus the INITIAL standings for gold for the AUGUST contract month:
No of notices served so far (13,886) x 100 oz or ounces + {OI for the front month (671) minus the number of notices served upon today (499) x 100 oz which equals 1,407,800 oz standing in this non active delivery month of AUGUST (43.788 tonnes).
We gained 32,500 gold ounces that will stand for delivery in this active delivery month of August.
Since the comex allows GLD shares to be used for settling, it may take quite a while for the physical gold to enter the comex vaults. So far I have seen little evidence of any settling of contracts but I will continue to monitor it for you.
We now have partial evidence of gold settling for last months deliveries We now have + 6.889 TONNES FOR MAY + 49.09 TONNES FOR JUNE + 21.452 TONNES FOR JULY + 12.3917 + 43.788 tonnes Aug + tonnes (April) +2.2311 tonnes (March) + 7.99 (total Feb)- .940 (probable delivery on March 1) tonnes -.0434 tonnes (March 11,12,17,18) + March 31: 1.2470 and then April 1,2: – .0006 tonnes and last week April 16.3203 and April 22 .(0009 tonnes) + april 29 .205 tonnes + May 5: 3.799 and May 6: 1.607 tonnes –MAY 12 .0003- May 18: 1.5635 tonnes-May 19/ 2.535 tonnes-May 27 .0185 – .024 TONNES MAY 31 -jUNE 4: .5044 ; june 10 -.0008 / June 22:0.48 tonnes /June 23: 0489 tonnes, June 24..018; june 29 .036 tonnes; JUNE 30 2.49 /july 1 1778 tonnes, JULY 28 .089 TONNES / JULY 29 .128 TONNES/ aUG 10// 0.219 TONNES/August 11: .3619 TONNES/ AUG 12/.05878/ aug 17. 6418, aug 23: .1756 tonnes/THEREFORE 92.673 tonnes still standing against 73.047 tonnes available.
Total dealer inventor 2,365,124.904 oz or 73.562 tonnes
Total gold inventory (dealer and customer) =10,999,518.878 or 342.13 tonnes
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 342.13 tonnes for a gain of 41 tonnes over that period.
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.
end
And now for silver
AUGUST INITIAL standings
august 24.2016
Silver |
Ounces
|
Withdrawals from Dealers Inventory |
NIL |
Withdrawals from Customer Inventory |
NIL
30,043.820 oz
Scotia
|
Deposits to the Dealer Inventory |
NIL OZ
|
Deposits to the Customer Inventory |
1,048,392.32 OZ
HSBC
SCOTIA
|
No of oz served today (contracts) |
10 CONTRACTS
(50,000 OZ)
|
No of oz to be served (notices) |
6 contracts
30,000 oz)
|
Total monthly oz silver served (contracts) |
490 contracts (2,450,000 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 |
today we had 0 deposit into the dealer account:
Total dealer deposits; NIL oz
we had 0 dealer withdrawal:
:
total dealer withdrawals: NIL oz
we had 1 customer withdrawal:
i) Out of Scotia; 30,043.820 oz
Total customer withdrawals: 30,043.820 oz
We had 2 customer deposit:
i) Into HSBC; 577,431.400 oz
ii) Into Scotia; 970,965.92 oz
total customer deposits: 1,048,392.32 oz
The total number of notices filed today for the AUGUST contract month is represented by 10 contracts for 50,000 oz. To calculate the number of silver ounces that will stand for delivery in AUGUST., we take the total number of notices filed for the month so far at (490) x 5,000 oz = 2,450,000 oz to which we add the difference between the open interest for the front month of AUGUST (16) and the number of notices served upon today (10) x 5000 oz equals the number of ounces standing
Thus the initial standings for silver for the AUGUST contract month: 490(notices served so far)x 5000 oz +(16 OI for front month of AUGUST ) -number of notices served upon today (10)x 5000 oz equals 2,480,000 oz of silver standing for the AUGUST contract month.
we gained 50,000 additional silver ounces that will not stand for silver metal in this non active delivery month of August.
Total dealer silver: 27.453 million (close to record low inventory
Total number of dealer and customer silver: 158.529 million oz (close to a record low)
The total open interest on silver is NOW close to its all time high with the record of 224,540 being set AUGUST 3.2016. The registered silver (dealer silver) is NOW NEAR multi year lows as silver is being drawn out at both dealer and customer levels and heading to China and other destinations. The shear movement of silver into and out of the vaults signify that something is going on in silver.
And now the Gold inventory at the GLD
August 24/NO CHANGE in gold inventory at the GLD/inventory restsw at 958.37 tonnes
August 23/no change in gold inventory at the GLD/Inventory rests at 958.37 tonnes
August 22/ a deposit of 2.38 tonnes of gold into the GLD/Inventory rests at 958.37 tonnes
August 19/no changes at the GLD/inventory resets at 955.99 tonnes
August 18/a withdrawla of 6.24 tonnes of gold from the gLD/Inventory rests at 955.99 tonness
August 17/no change in gold inventory at the GLD/inventory rests at 962.23 tonnes
August 16/ a deposit of 1.78 tonnes of “paper gold” into the GLD/Inventory rests at 962.23 tonnes
August 15/what a farce!! a huge “paper gold’ withdrawal of 12.17 tonnes/inventory rests at 960.45 tonnes
August 12/no change in gold inventory at the GLD/Inventory rests at 972.62 tonnes
August 11/no changes in gold inventory at the GLD/Inventory rests at 972.62 tonnes
August 10/no changes in GLD/Inventory rests at 972.62 tonnes
August 9/we had a withdrawal of 1.18 tonnes of gold from the GLD inventory/inventory rests at 972.62 tonnes
August 8/a huge changes in the GLD/Inventory, a withdrawal of 6.54 tonnes of paper gold/ rests at 973.80 tonnes of gold/
August 5/ a huge deposit of 10.69 tonnes of gold (with gold down $22.40??)/GLD inventory rests at 980.34 tonnes
August 4/no change in inventory at the GLD/Inventory rests at 969.65 tonnes
August 3/a big deposit of 5.62 tonnes of paper gold/Inventory rests at 969.65 tonnes
August 2/no change in gold inventory at the GLD/Inventory rests at 964.03 tonnes
August 1/we had a huge paper deposit of 5.94 tonnes of gold into the GLD/Inventory rests at 964.03 tonnes
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August 24/ Inventory rests tonight at 958.37 tonnes
Now the SLV Inventory
August 24/no change in silver inventory at the SLV/Inventory rests at 358.793 million oz
August 23/no change in silver inventory at the SLV/Inventory rests at 358.793 million oz.
August 22/a huge addition of 3.324 million oz into the SLV/Inventory rests at 358.793 million oz
August 19/no change in silver SLV/Inventory rests at 355.469 million oz/
August 18/ a massive paper deposit of 2.185 million oz into the SLV/Inventory rests at 355.469 million oz
August 17/ we had a huge deposit of 1.519 million oz into the SLV/Inventory rests at 353.284 million oz/
August 16/no change in inventory/rests tonight at 351.765 million oz
August 15./amazing, we have a huge withdrawal in gold and yet nothing moves out of silver: no change in silver inventory at the SLV/Inventory rests at 351.765 million oz.
August 12/no change in silver inventory at the SLV/Inventory rests at 351.765 million oz
August 11/no change in silver inventory at the SLV/Inventory rests at 351.765 oz
August 10/no changes in silver inventory at the SLV/Inventory rests at 351.765 oz
August 9/a deposit of 950,000 oz into the SLV/Inventory rests at 351.765 oz
August 8/no change in silver inventory at the SLV/Inventory rests at 350.815 million oz.
August 4/no change in silver inventory at the SLV/inventory rests at 350.815 million oz
August 3/no change in silver inventory/inventory rests at 350.815 million oz
August 2/ we had a tiny withdrawal of 40,000 oz of silver/Inventory rests at 350.815 million oz
August 1/we had a huge paper deposit of 1.235 million oz into the SLV/Inventory rests at 350.955 million oz
.
August 24.2016: Inventory 358.793 million oz
NPV for Sprott and Central Fund of Canada
1. Central Fund of Canada: traded at Negative 5.9 percent to NAV usa funds and Negative 5.9% to NAV for Cdn funds!!!! (the discount is starting to disappear)
Percentage of fund in gold 60.2%
Percentage of fund in silver:38.6%
cash .+1.2%( August 24/2016).
2. Sprott silver fund (PSLV): Premium falls to +0.13%!!!! NAV (august 24/2016)
3. Sprott gold fund (PHYS): premium to NAV falls TO 0.36% to NAV ( august 24/2016)
Note: Sprott silver trust back into POSITIVE territory at +0.13% /Sprott physical gold trust is back into positive territory at 0.36%/Central fund of Canada’s is still in jail.