Sept 7/Huge rise in silver inventory (3.134 million oz ) into SLV/gold and silver take a little breather being whacked a bit by our banker friends/The Flash boys (IEX) are taking on the bankers with their block chain technology as they enter the gold market trying to stop the front running and spoofing/

Gold:1344.30 down $5.10

Silver 19.76  down 29 cents

In the access market 5:15 pm

Gold: 1345.20

Silver: 19.80



The Shanghai fix is at 10:15 pm est and 2:15 am est

The fix for London is at 3 am est (first fix) and 10 am est (second fix)

Thus Shanghai’s second fix corresponds to 45 minutes before London’s first fix.

And now the fix recordings:

Shanghai morning fix Sept 7 (10:15 pm est last night): $1352.07



Shanghai afternoon fix:  2: 15 am est (second fix/early  morning):$1353.00





London Fix: Sept 7: 3: am est:  $1348.25   (NY: same time:  $1351.05:    3 AM)

London Second fix Sept 7: 10 am est:  $1348.25  (NY same time: $1349.63 ,    10 AM)

It seems that Shanghai pricing is higher than the other  two , (NY and London). The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price. This should drain the comex

For gold:The front September contract month we had 399 notices filed for 39900 oz

For silver:  the month of September we have a total of 429 notices filed for 2,145,000 oz

Let us have a look at the data for today



In silver, the total open interest rose by 4094 contracts up to 193,359. The open interest rose as the silver price was up 24 cents in Friday’s trading .In ounces, the OI is still represented by just LESS THAN 1 BILLION oz i.e. .967 BILLION TO BE EXACT or 138% of annual global silver production (ex Russia &ex China). the crooks are doing a great job fleecing unsuspecting longs

In silver we had 429 notices served upon for 2145,000 oz

In gold, the total comex gold rose by 28,791 contracts as price of gold ROSE BY $27.30 yesterday . The total gold OI stands at 590,656 contracts


With respect to our two criminal funds, the GLD and the SLV:


we had a tiny withdrawal tonight out of the GLD/ 0.33 tonnes was withdrawn from the GLD

Total gold inventory rest tonight at: 951.81 tonnes of gold


we had a big change with respect to inventory at the SLV / a  good sized deposit of 3.134 million paper oz was added to the SLV inventory

THE SLV Inventory rests at: 362.719million oz


First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver rose by 28791 contracts up to 199,197 as the  price of silver ROSE by 77 cents with yesterday’s trading.The gold open interest rose 28,791 contracts up to 590,656 as the price of gold ROSE $27.30 IN YESTERDAY’S TRADING.

(report Harvey).

2.a) The Shanghai and London gold fix report



2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY:  Bloomberg



i)Late  TUESDAY night/WEDNEDAY morning: Shanghai closed UP 18.61 POINTS OR 0.61%/ /Hang Sang closed UP 138.13 points or 0.58%. The Nikkei closed UP 44.35 POINTS OR 0.26% Australia’s all ordinaires  CLOSED DOWN 0.29% Chinese yuan (ONSHORE) closed UP at 6.6785/Oil ROSE to 44.91 dollars per barrel for WTI and 47.42 for Brent. Stocks in Europe: IN THE GREEN EXCEPT LONDON  Offshore yuan trades  6.6894 yuan to the dollar vs 6.6785 for onshore yuan.THE SPREAD BETWEEN ONSHORE AND OFFSHORE NARROWS SLIGHTLY AS  MORE USA DOLLARS ATTEMPT TO  LEAVE CHINA’S SHORES



This is troublesome as the yen rises despite the fact that Japan is a basket case.  The problem is dissension among the Bank of Japan officials: they just do not know which way to turn:

  1. stop QE altogether
  2. continue with QE
  3. continue with negative interest rates

all sides are divided equally into these 3 groups

( zero hedge)


none today


none today


none today


none today


i)A warning to all of you oil bears:  Gartman just stated that oil will not go above 55.00 dollars.

( Gartman/zero hedge)

ii)Then at 5 pm: Crude spikes after a massive inventory drawdown;

(courtesy zero hedge/API)


none today


i)John Embry  (and so do I) believe that there is no prospect of an interest rate hike:

( John Embry/Kingworldnews)

ii)This is going to help us:  IEX group is going against the HFT boys in the gold market.  This should neutralize their predatory practice of spoofing and frontrunning.

( zero hedge)


i)Wikileaks, Julian Assange reveals on Fox that Clinton knew the meaning of the “C” for Confidential on stuff that she herself sent out with the C attached:

( Stefanie MacWilliams/PlanetFree Will/Fox news)

ii)Job opening in the uSA continue to jump and yet the pace of hiring fails to rise:

(JOLTS DATA/zerohedge)


iii)Beige book report: Rapid gains in selected specialized skill sets.  Must be our bartenders and also waitresses doing extra special duties:

( zero hedge)

iv)Let us close with this terrific interview of Dr Chris Martenson and Greg Hunter

(courtesy Greg hunter/USA+Watchdog)

Let us head over to the comex:

The total gold comex open interest ROSE to an OI level of 590,656 for a GAIN of 28,791 contracts as the price of gold ROSE by $27.30 with yesterday’s trading. We are now in the NON active month of SEPTEMBER/

The contract month of Sept saw it’s OI fall by 2 contracts down to 512. We had 0 notices filed yesterday so we LOST 2 contracts or 200 additional oz will not stand for delivery.  The next delivery month is October and here the OI rose by 86 contracts up to 44,233. This level is extremely high and no doubt many of these will wait it out and take delivery at the end of the month. The next contract month of December showed an increase  of 24,218 contracts up to 443,885.The estimated volume today at the comex: 151,244 fair  Confirmed volume yesterday: 307,114, which is excellent.


Today we had  399 notices filed for  39900 oz of gold.
And now for the wild silver comex results.  Total silver OI ROSE by 5,838 contracts from 193,359 up to 199,197  with the rise in price of silver to the tune of 77 cents yesterday.  We are moving away from the all time record high for silver open interest set on Wednesday August 3:  (224,540).  We are now into the next active month of September and here the OI fell by 220 contracts down to 1799. We had 253 notices filed on yesterday so we gained 33 contracts or 165,000 additional oz will stand for delivery in this active month of September.  The next non active delivery movement of October hardly moved RISING by 47 contract up to 281 contracts.  The next big delivery month will be December and here it rose hugely , up 5,185 contracts  to 173,396. The volume on the comex today (just comex) came in at 54,878 which is excellent.  The confirmed volume yesterday (comex and globex) was gigantic  at 104,044 . Silver is not in backwardation.  London is in backwardation for several months.

today we had 429 notices filed for silver: 2,145,000 oz

 SEPT 7.
Withdrawals from Dealers Inventory in oz  


Withdrawals from Customer Inventory in oz  nil
4,533.170 OZ
Deposits to the Dealer Inventory in oz NIL
Deposits to the Customer Inventory, in oz 
No of oz served (contracts) today
399 notices 
39,900 oz
No of oz to be served (notices)
113 contracts
(11,300 oz)
Total monthly oz gold served (contracts) so far this month
2303 contracts
23030000 oz
7.163 tonnes
Total accumulative withdrawals  of gold from the Dealers inventory this month   192.90 oz
Total accumulative withdrawal of gold from the Customer inventory this month   27,327.6 oz
 Today: tiny activity at the gold comex and 1 kilobar entry
We had 0 dealer deposits:
Total dealer deposits; NIL oz
We had 0 dealer withdrawals:
total dealer withdrawals:  NIL oz
We had 0 customer deposits:
 Total customer deposits:  nil oz
We had 2 customer withdrawals:
i) Out of Brinks:  2604.17 oz
ii) Out of Scotia:  1929.000 oz  (60 kilobars)
Total customer withdrawals: 4.533.170 oz
Today we had one adjustment:
Out of Brinks:  13,500.07 oz was adjusted out of the customer and this landed into the dealer account
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 were issued from JPMorgan dealer account and 0 notices were issued form their client or customer account. The total of all issuance by all participants equates to 399 contracts or which 0 notices were stopped (received) by jPMorgan dealer and 1 notice(s) was (were) stopped (received) by jPMorgan customer account.
To calculate the initial total number of gold ounces standing for the SEPT  contract month, we take the total number of notices filed so far for the month (2303) x 100 oz  or 230,300 oz , to which we  add the difference between the open interest for the front month of SEPT  (512 CONTRACTS) minus the number of notices served upon today (399) x 100 oz   x 100 oz per contract equals 241,600  oz, the number of ounces standing in this NON active month. 
Thus the INITIAL standings for gold for the SEPT contract month:
No of notices served so far (2303) x 100 oz  or ounces + {OI for the front month (xxx) minus the number of  notices served upon today (399) x 100 oz which equals 241,600 oz standing in this non  active delivery month of SEPT  (7.5147 tonnes).
we lost 2 contracts or an additional 2300 oz will not stand. We are almost back to our original standings on first day notice.
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.  This is becoming quite a farce but I will no longer show settlements vs what is owing:
 Total dealer inventor 2,440,410.452 or 75.906 tonnes
Total gold inventory (dealer and customer) =10,929.295.619 or 339.94 tonnes 
Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 339.94 tonnes for a  gain of 37  tonnes over that period. 
Ladies and Gentlemen:  the comex is beginning to lose some of its gold.


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.

And now for silver
SEPT INITIAL standings
 SEPT 7.2016
Inventory movements not available today from the CME/
Withdrawals from Dealers Inventory NIL
Withdrawals from Customer Inventory
665,285.42 oz
Deposits to the Dealer Inventory
 600,618,400 OZ
Deposits to the Customer Inventoryxxx
 1,075.185 oz
No of oz served today (contracts)
(2145,000 OZ)
No of oz to be served (notices)
1370 contracts
(6,850,000 oz)
Total monthly oz silver served (contracts) 1407 contracts (7,035,000 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  3,101,604.7 oz
today, we had 1 deposit into the dealer account:
i) Into CNT:  600,618.460 oz
total dealer deposit:   600,618.46 oz
we had 0 dealer withdrawals:
 total dealer withdrawals: NIL oz
 we had 3 customer withdrawals:
 i) Out of BRINKS  299,757.25 OZ
ii) out of JPM:  305,323.100 OZ
iii) Out of Scotia: 60,205.57 oz
Total customer withdrawals: 665,285.42  oz
We had 1 customer deposit:
i) Into DELAWARE: 1075.185 oz
total customer deposits:  1,075.185   oz
 we had 0 adjustments
The total number of notices filed today for the SEPT contract month is represented by 429 contract for 2,145,000 oz. To calculate the number of silver ounces that will stand for delivery in SEPT., we take the total number of notices filed for the month so far at (1407) x 5,000 oz  = 7,035,000 oz to which we add the difference between the open interest for the front month of SEPT (1799) and the number of notices served upon today (429) x 5000 oz equals the number of ounces standing 
Thus the initial standings for silver for the SEPT contract month:  1407(notices served so far)x 5000 oz +(1799 OI for front month of SEPT ) -number of notices served upon today (399)x 5000 oz  equals  13,885,000 oz  of silver standing for the SEPT contract month.
we gained 33 contracts or an additional 165,000 will stand
Total dealer silver:  28.804 million (close to record low inventory  
Total number of dealer and customer silver:   162.862 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
SEPT 7.2016/we had a small withdrawal of .333 tones from the GLD/Inventory rests tonight at 951.81 tonnes
Sept 6/a monstrous addition of 14.25 tonnes into the GLD/with London in backwardation in gold I wonder how these guys found so much “gold”/Inventory rests tonight at 952.14 tonnes/
Sept 2/no change in inventory at the GLD/Inventory rests at 937.89 tonnes
SEPT 1/another montrous withdrawal of 5.34 tonnes/Inventory rests at 937.89 tonnes
August 31/ a monstrous 13.36 tonnes of gold leaves the GLD/inventory rests at 943.23 tonnes
august 30/no change at the GLD/Inventory rests at 956.59 tonnes
August 29/no changes at the GLD/Inventory rests at 956.59 tonnes
August 26./no changes at the GLD/inventory rests at 956.59 tonnes
August 25/a withdrawal of 1.78 tonnes at the GLD/Inventory rests at 956.59 tones
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
SEPT 7/ Inventory rests tonight at 951.81 tonnes


Now the SLV Inventory
SEPT 7/We had a huge addition of 3.134 million oz into the SLV/Inventory rests a t 362.719 million oz. In less than a month we had added 11 million oz of silver into SLV vaults.
Sept 6/Strange: no addition of silver at the SLV. You mean they cannot find any paper silver?/Inventory rests at 359.585 million oz
Sept 2/a small withdrawal of 158,000 oz at the SLV probably to pay for fees/Inventor  rests at 359.585 million oz.
SEPT 1/no change in inventory at the SLV/Inventory rests at 359.743 million oz/
August 31/we had a monstrous addition of 1.899 million oz into the SLV/this would be a paper addition/inventory rests at 359.743 million oz//why the difference in gold and silver: one reduces dramatically and the other increases dramatically
August 30/no change in silver inventory/inventory rests at 357.844 million oz/
August 29/we had a good sized deposit of 950,000 oz at the SLV/Inventory rests at 357.844 million oz/
August 26/no change in silver inventory at the SLV/Inventory rests at 356.894 million oz
August 25/a withdrawal of 1.899 million oz from the SLV/Inventory rests at 356.894 million oz
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
SEPT 7.2016: Inventory 362.719 million oz

NPV for Sprott and Central Fund of Canada

1. Central Fund of Canada: traded at Negative 4.8 percent to NAV usa funds and Negative 4.8% to NAV for Cdn funds!!!!  (the discount is starting to disappear)
Percentage of fund in gold 59.3%
Percentage of fund in silver:39.6%
cash .+1.1%( SEPT 7/2016).
2. Sprott silver fund (PSLV): Premium falls to +0.62%!!!! NAV (SEPT 7/2016) 
3. Sprott gold fund (PHYS): premium to NAV  falls TO  0.52% to NAV  ( SEPT 7/2016)
Note: Sprott silver trust back  into POSITIVE territory at +0.62% /Sprott physical gold trust is back into positive territory at 0.52%/Central fund of Canada’s is still in jail.


And now your overnight trading in gold,WEDNESDAY MORNING and also physical stories that may interest you:

Trading in gold and silver overnight in Asia and Europe
Mark O’Byrne/David Russell

Silver Bullion Surges 3.5% To Over $20/oz

Silver surged 3.5% yesterday rising 65 cents and closing at $20.04/oz and gold rose by 2% or by $23 to close at $1,348.80/oz after poor economic data in the U.S. underlined deepening concerns about the economic and indeed the monetary outlook.

silver_2016Silver in USD – 10 Years

Gold ended near its late session high of $1351.83 and has consolidated near these levels in Asia overnight and Europe this morning. Silver surged to as high as $20.124 and has since given up some of the gains but remains near the $20 level at $19.95/oz.

The precious metals also saw gains in other currencies. Euro gold rose to about €1,200/oz and sterling gold to £1,004/oz.

Platinum gained $33 to $1095, and palladium also surged.

Yesterday’s abysmal reading regarding the service sector of the U.S. economy following the lackluster jobs report last Friday means that the Fed is likely to remain “looser for longer.” We were quoted by Marketwatch yesterday about gold entering the “seasonal sweet spot” against a highly uncertain geopolitical and financial backdrop:

Still, Mark O’Byrne, a director at GoldCore in Dublin, pointed out to MarketWatch on Tuesday that gold is in a seasonal sweet spot, with autumn often being gold’s best season and the month of September tending to be “one of the best months for gold in recent years.”

“Given the backdrop of one of the most uncertain macroeconomic, systemic, geopolitical and monetary outlooks both the U.S. and the world have ever seen, we are likely to see gold do well in its traditionally seasonal strong period,” he said in a recent blog.

Gold and silver rose sharply on Friday after the U.S. added just 151,000 jobs in August, according to the Labor Department’s report on non-farm payrolls. Much fewer than the 180,000 new jobs that economists were expecting and much lower than the 200,000 that is needed to keep up with new immigrants and others entering the jobs market. The precious metals saw a safe haven bid again yesterday after the Institute for Supply Management’s non-manufacturing survey, which clocked in at the lowest reading since 2010.

Gold and silver’s technical picture is now very positive – silver’s technical picture especially. A close above $21/oz could see silver quickly move to the next level of resistance of $23/oz. Longer term, we expect silver to return to and surpass the nominal silver bullion high of $50/oz seen in 1980 and very nearly again in April 2011 (see chart).

SilverCoinsHeader (2)Silver Coins VAT Free in Ireland, UK and EU

Gold and Silver Bullion – News and Commentary

“One of the most uncertain macroeconomic, systemic, geopolitical and monetary outlooks … world have ever seen” said GoldCore  (Marketwatch)

Gold Extends Biggest Jump Since Brexit on Lowered Fed Rate Bets (Bloomberg)

Gold steady as weak US data dampens Fed rate hike hopes (Reuters)

Gold jumps after dismal U.S. data dims rate hike prospects (Reuters)

U.S. Services Industries Expand at Weakest Pace in Six Years (Bloomberg)


Chinese Are Buying Gold, Selling Treasuries – Should You? (Zerohedge )

Keiser Report: Will the dollar live to die another day? (Max Keiser )

Brand new visitor’s first impressions of the United States (Sovereign Man)

“Bankrupt U.S.” … “Gigantic Bubble In Military Spending” (Lew Rockwell)

Summer holidays are over. Time to reassess the world economy (Telegraph)

Gold Prices (LBMA AM)

07 Sep: USD 1,348.75, GBP 1,008.60 & EUR 1,199.85 per ounce
06 Sep: USD 1,330.05, GBP 1,997.94 & EUR 1,191.46 per ounce
05 Sep: USD 1,328.30, GBP 1,996.23 & EUR 1,189.49 per ounce
02 Sep: USD 1,311.50, GBP 1,987.95 & EUR 1,172.74 per ounce
01 Sep: USD 1,305.70, GBP 1,985.80 & EUR 1,172.13 per ounce
31 Aug: USD 1,314.45, GBP 1,000.30 & EUR 1,179.19 per ounce
30 Aug: USD 1,318.85, GBP 1,008.39 & EUR 1,180.90 per ounce

Silver Prices (LBMA)

07 Sep: USD 19.92, GBP 14.89 & EUR 17.71 per ounce
06 Sep: USD 19.60, GBP 14.70 & EUR 17.55 per ounce
05 Sep: USD 19.46, GBP 14.60 & EUR 17.43 per ounce
02 Sep: USD 18.75, GBP 14.15 & EUR 16.76 per ounce
01 Sep: USD 18.65, GBP 14.08 & EUR 16.73 per ounce
31 Aug: USD 18.74, GBP 14.27 & EUR 16.82 per ounce
30 Aug: USD 18.78, GBP 14.35 & EUR 16.82 per ounce

Recent Market Updates

– Ireland “Especially Exposed” To “International Shocks” Warns Central Bank
– Deutsche Bank Tries To Explain Failure To Deliver Physical Gold
– Physical Gold Delivery Failure By German Banks
– Avoid Paper Gold – “Gold Delivery” Refused By Gold Exchange Traded Commodity
– Debt Bubble in Ireland and Globally Sees Wealthy Diversify Into Gold
– “Why Case Against Gold Is Wrong” – James Rickards
– Obama To Leave $20 Trillion Debt Crisis For Clinton Or Trump
– Gold Bullion Averages Biggest Seasonal Gains in September Over Past 20 Years
– Gold Futures See Massive $1.5 Billion “Non Profit” Liquidation In “One Minute”
– Jim Grant Is “Very Bullish On Gold”
– Germans Warned To ‘Stockpile’ Cash In Case Of ‘War’
– Ireland’s Biggest Bank Charging Depositors – Negative Interest Rate Madness
– Rothchilds Buying Gold On “Greatest Experiment” With Money In “History of the World”

Mark O’Byrne
Executive Director








John Embry  (and so do I) believe that there is no prospect of an interest rate hike:

(courtesy John Embry/Kingworldnews)


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