Dec 1/Gold rises $5.65 on news of charges and conviction of Michael Flynn who will no doubt testify against Trump and probably Kushner/silver does not participate as it was down 8 cents/Again huge EFP transfers from the comex to London: in gold a whopping 15,472 contracts transferred, in silver: 5387 contracts transferred as EFP s/Tax bill likely to pass the Senate this evening/

GOLD: $1279.50  UP $5.65

Silver: $16.35 DOWN 8 cents

Closing access prices:

Gold $1280.30

silver: $16.45

SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)

SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)

SHANGHAI FIRST GOLD FIX: $1282.27 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1275.30

PREMIUM FIRST FIX: $6.97

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SECOND SHANGHAI GOLD FIX: $1283.09

NY GOLD PRICE AT THE EXACT SAME TIME: $1275.40

Premium of Shanghai 2nd fix/NY:$7.69

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LONDON FIRST GOLD FIX: 5:30 am est $1277.25

NY PRICING AT THE EXACT SAME TIME: $1276.20

LONDON SECOND GOLD FIX 10 AM: $1275.50

NY PRICING AT THE EXACT SAME TIME. 1275.00

For comex gold:

DECEMBER/

 NUMBER OF NOTICES FILED TODAY FOR DECBER CONTRACT:  627 NOTICE(S) FOR 62700 OZ.

TOTAL NOTICES SO FAR: 2936 FOR 293,600 OZ (9.131 TONNES)

For silver:

DECEMBER

398 NOTICE(S) FILED TODAY FOR

1,990,000 OZ/

Total number of notices filed so far this month: 4392 for 21,960,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

Bitcoin: BID $1016/OFFER $1022, up $278 (morning) 

BITCOIN : BID $10814 OFFER: $10881 // UP $881 (CLOSING)

end

Let us have a look at the data for today

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In silver, the total open interest SURPRISINGLY FELL BY ONLY  2493 contracts from 189,526 FALLING TO 187,033 DESPITE YESTERDAY’S CONTINUAL DRUBBING OF SILVER  WHICH SAW OUR METAL FALL 13 CENTS AND NOW WELL BELOW THE HUGE $17.25 SILVER RESISTANCE.   WE HAD SURPRISINGLY NO REAL COMEX LIQUIDATION AS WE WERE ALSO NOTIFIED THAT WE HAD ANOTHER LARGE NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE :  5387 EFP’S FOR MARCH AND THUS TOTAL ISSUANCE OF 5387 CONTRACTS.   I GUESS WHAT THE CME IS STATING IS THAT THERE IS NO SILVER (OR GOLD) TO BE DELIVERED UPON AT THE COMEX AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. YESTERDAY WITNESSED 5700 EFP’S FOR SILVER ISSUED.

RESULT: A SMALLER SIZED FALL IN OI COMEX DESPITE THE CONTINUAL DRUBBING IN SILVER PRICE: YESTERDAY IT FELL  13 CENTS. HOWEVER  WE HAD ALL OF OUR COMEX LONGS WHICH EXITED OUT OF THE SILVER COMEX  TRANSFERRED THEIR OI TO LONDON THROUGH THE EFP ROUTE:  FROM THE CME DATA 5387 EFP’S  WERE ISSUED TODAY  FOR A DELIVERABLE CONTRACT OVER IN LONDON WITH A FIAT BONUS. IN ESSENCE THE  DEMAND FOR SILVER PHYSICAL INTENSIFIES GREATLY. WE REALLY GAINED 2894 OI CONTRACTS i.e5387 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 2493 OI COMEX CONTRACTS.

In ounces AT THE COMEX, the OI is still represented by just UNDER 1 BILLION oz i.e. 0.935 BILLION TO BE EXACT or 134% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT OCT MONTH/ THEY FILED: 398 NOTICE(S) FOR 1,990,000 OZ OF SILVER

In gold, the open interest FELL BY ONLY 3727 CONTRACTS DOWN TO 485,309  DESPITE THE HUGE FALL  IN PRICE OF GOLD YESTERDAY ($9.15).  HOWEVER  THE TOTAL NUMBER OF GOLD EFP’S ISSUED FOR TODAY  TOTALED ANOTHER 15,472 CONTRACTS OF WHICH THE MONTH OF DECEMBER SAW 0 CONTRACTS AND FEB SAW THE ISSUANCE OF 15,472 CONTRACTS. The new OI for the gold complex rests at 486,098. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE WITNESS THE HUGE NUMBER OF EFP TRANSFERS TOGETHER WITH THE MASSIVE AMOUNT OF GOLD OUNCES STANDING FOR DECEMBER. EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK  TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD.  THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX  HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER AND ON TOP OF THAT IT IS TAKING A FURTHER 13 WEEKS TO OBTAIN PHYSICAL FROM THE POINT WHEN FORWARDS BECOME DUE. IN ESSENCE WE HAD A NET GAIN OF 11,745 OI CONTRACTS: 3727 OI CONTRACTS LOST AT THE  COMEX OI  BUT  15,472 OI CONTRACTS NAVIGATED OVER TO LONDON. AS I REPORTED YESTERDAY: “THE CME HAS BEEN VERY TARDY IN THEIR REPORTING OF EFP ISSUANCE.  THESE GUYS ARE CROOKS. THEY ARE IMMEDIATELY REMOVING OPEN INTEREST NUMBERS BUT DELAYING RELEASE OF EFP’S FOR 24 HOURS OR GREATER.

YESTERDAY, WE HAD 20,559 EFP’S ISSUED.

Result: A HUGE SIZED DECREASE IN OI  WITH THE HUGE SIZED FALL IN PRICE IN GOLD YESTERDAY ($9.15). WE  HAD AN LARGE  NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 15,472. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX AND YET WE REACHED THE HUGE DELIVERY MONTH OF DECEMBER. I GUESS IT EXPLAINS THE HUGE ISSUANCE OF EFP’S…THERE IS HARDLY ANY GOLD PRESENT AT THE GOLD COMEX FOR DELIVERY PURPOSES.  IF YOU TAKE INTO ACCOUNT THE 15,472 EFP CONTRACTS ISSUED, WE HAD A NET GAIN OPEN INTEREST OF 11,745 contracts:

15,472 CONTRACTS MOVE TO LONDON AND 3727 CONTRACTS REMOVED FROM   THE COMEX.

we had:  627  notice(s) filed upon for 62,700 oz of gold.

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

GLD:

Today, no changes in gold inventory at the GLD/

Inventory rests tonight: 839.55 tonnes.

SLV

TODAY WE HAD A HUGE CHANGE IN SILVER INVENTORY AT THE SLV: AN DEPOSIT OF 2.076 MILLION OZ WITH SILVER IN THE DUMPSTER THESE PAST FEW DAYS????

INVENTORY RESTS AT 319.206 MILLION OZ

end

.

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

1. Today, we had the open interest in silver SURPRISINGLY FELL BY ONLY 2493 contracts from 189,526 DOWN  TO 187,033 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE LOSS IN PRICE OF SILVER PRICE (A FALL OF 13 CENTS ). HOWEVER, OUR BANKERS  USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER HUGE  5387  PRIVATE EFP’S FOR MARCH (WE DO NOT GET A LOOK AT THESE CONTRACTS).  EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.    AS I STATED YESTERDAY: “THIS IS THE SCENE WHERE IN THE PAST WE DID SEE MASSIVE COMEX OI CONTRACTION ALTHOUGH IT WAS MORE PRONOUNCED IN GOLD THAN WITH SILVER.” IF YOU COMPARE GOLD TO SILVER ONE CAN SEE THE DIFFERENCE: GOLD HAS A MUCH GREATER TRANSFER IN EFP’S THAN SILVER.  TODAY IN REALITY WE HAD ZERO COMEX SILVER COMEX LIQUIDATION. IF WE ADD THE OI LOSS AT THE COMEX (2493 CONTRACTS)   TO THE 5387 OI TRANSFERRED TO LONDON THROUGH EFP’S  WE OBTAIN A NET GAIN OF A MASSIVE  2894  OPEN INTEREST CONTRACTS, ON TOP OF THE HUGE AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN DECEMBER (SEE BELOW)

RESULT: A SMALL SIZED DECREASE IN SILVER OI AT THE COMEX WITH THE 13 CENT FALL IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING).  BUT WE ALSO  HAD ANOTHER 5387 EFP’S ISSUED.. TRANSFERRING OUR COMEX LONGS OVER TO LONDON . TOGETHER WITH THE HUGE AMOUNT OF SILVER OUNCES STANDING FOR DECEMBER, DEMAND FOR PHYSICAL SILVER IS STRONG.

(report Harvey)

.

2.a) The Shanghai and London gold fix report

(Harvey)

2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY: Bloomberg

3. ASIAN AFFAIRS

i)Late THURSDAY night/FRIDAY morning: Shanghai closed UP 0.43 points or .01% /Hang Sang CLOSED DOWN 103.11 pts or 0.35% / The Nikkei closed UP 04.07 POINTS OR 0.41%/Australia’s all ordinaires CLOSED UP 0.30%/Chinese yuan (ONSHORE) closed UP at 6.6093/Oil DOWN to 57.83 dollars per barrel for WTI and 63.25 for Brent. Stocks in Europe OPENED ALL RED .    ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.6093. OFFSHORE YUAN CLOSED UP AGAINST  THE ONSHORE YUAN AT 6.6069 //ONSHORE YUAN STRONGER AGAINST THE DOLLAR/OFF SHORE STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS SLIGHTLY WEAKER AGAINST ALL MAJOR CURRENCIES. CHINA IS NOT  HAPPY TODAY.(MARKETS  WEAK)

 

3a)THAILAND/SOUTH KOREA/NORTH KOREA

i)North Korea/South Korea

This will move the stock market another 300 points up and cause gold to fall again.  North Korea is preparing to launch another missile

( zero hedge)

 

ii)New images show that North Korea now has the capability of carrying multiple warheads

(courtesy zerohedge)

b) REPORT ON JAPAN

3 c  CHINA

 

4. EUROPEAN AFFAIRS

UK labour leader: Jeremy Corbyn lashes out at Morgan Stanley and yes: Yes, I am a threat to the big banks

( zerohedge)

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

i)RUSSIA

Stands to reason:  Russian Parliament bans access to all USA reporters as the USA government yanked their TV station credentials

 

( zerohedge)

 

ii)Turkey

A bad hair day for Erdogan
( zerohedge)

6 .GLOBAL ISSUES

7. OIL ISSUES

 

8. EMERGING MARKET

9. PHYSICAL MARKETS

i)The advantages to hold gold

Bullion Star/Persson/GATA)

ii)This is going to be interesting:  Coinbase loses its bid to block a USA tax probe of gains made by individuals

( Rosenblatt/Bloomberg)

 

iii)Bill Murphy correctly states that the monetary metals camp is demoralized with the constant criminal acts by our bankers.  Very shortly gold/silver will be joined by Bitcoin as the bankers flood the system with non backed bitcoin paper

( Bill Murphy/GATA)

iv)Alasdair outlines why the prospects to the dollar are poor.  He is always a must read.

( Alasdair Macleod)

10. USA stories which will influence the price of gold/silver

i)Chaos last night as they delay the tax bill to today. It may include 350 billion in new tax hikes.

( zerohedge)

ii)Then late in the morning: Johnson and Daines support the tax proposal and the voting looks close:

( zerohedge)

iii)Interesting:  the White House is monitoring the “bitcoin situation”

( zerohedge)

iv)What an absolute joke:  Michael Flynn is to plead guilty to lying to the FBI

( zerohedge)

iv b What a riot: gold rises as Flynn is to testify against Trump saying that Donald Trump directed him to make contact with Russians.

 

iv c what garbage!!

( zerohedge)

iv b) Here are two scenarios, one bad for Trump and the other quite innocuous.  I will go with the latter

( zerohedge)

 

v)Soft data Markit Manufacturing Index falls lead by new orders

( zero hedge)

vi)I like Graham Summers very much.  He explains in simple language the huge debt bubble which in turn creates bubbles in just above everythinga must read…(courtesy Graham Summers/Phoenix Capital Research)

Let us head over to the comex:

The total gold comex open interest FELL BY A LESS THAN EXPECTED 3,727  CONTRACTS DOWN to an OI level of 485,509 DESPITE THE  HUGE SIZED FALL AND CONTINUAL DRUBBING IN THE PRICE OF GOLD ($9.15 LOSS WITH RESPECT TO YESTERDAY’S TRADING).   IN ACTUAL FACT WE DID NOT HAVE ANY  GOLD  LIQUIDATION.  WE  HAD ANOTHER LARGE COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED  A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS. THE CME REPORTS THAT 0 EFPS WERE ISSUED FOR DECEMBER  AND 15,472 EFP’S WERE ISSUED FOR FEBRUARY FOR A TOTAL OF 15,472 CONTRACTS. THE OBLIGATION STILL RESTS WITH THE BANKERS ON THESE TRANSFERS.  THE CONSTANT BANKER RAIDS CONTINUE AS THEY TRY TO GET  OUR “MATHEMATICAL PAPER LONGS” IN GOLD TO LIQUIDATE THEIR POSITIONS AT THE COMEX. SO FAR IT HAS NOT SUCCEEDED (AS THEY MORPH INTO LONDON FORWARDS) AND THUS THE  CONTINUAL RAID EVEN TODAY . THE CME HAS BEEN VERY TARDY IN THEIR REPORTING OF EFP’S CONTRACTS AFTER A COMEX OI MORPHS INTO AN EFP WHICH WAS THE REASON FOR MY 2ND LETTER TO THE CFTC.

ON A NET BASIS IN OPEN INTEREST WE GAINED TODAY: 11,745 OI CONTRACTS IN THAT 15,472 LONGS WERE TRANSFERRED AS LONGS TO LONDON AS A FORWARD AND WE LOST  3727 COMEX CONTRACTS.  NET GAIN: 12,334 contracts.

Result: a SMALLER THAN EXPECTED DECREASE IN COMEX OPEN INTEREST WITH THE HUGE SIZED LOSS IN THE PRICE OF GOLD ($12.30.)   WE HAD NO REAL GOLD LIQUIDATION. TOTAL OPEN INTEREST GAIN ON THE TWO EXCHANGES: 11,745 OI CONTRACTS…AS I STATED YESTERDAY: “WITH A PROBABLE FURTHER ADDITION IN EFP TOMORROW” .  FROM THE DATA, THAT CERTAINLY WAS THE CASE.

.

We have now entered the  active contract month of DECEMBER. The open interest for the front month of December saw it’s open interest decline by 3560 contracts down to 8,348.  We had 2309 notices filed upon yesterday so we lost 1,251 contracts or an additional 125,100 oz will not stand for delivery in this active delivery month of December but they did migrate over to London as a forward for February…the reason for the move is that there is not any gold for them at the comex.

January saw its open interest GAIN OF 174 contracts UP to 2093. FEBRUARY saw a loss of 733 contacts down to 377,095.

We had 627 notice(s) filed upon today for 62700 oz

PRELIMINARY VOLUME TODAY ESTIMATED;  417,474

FINAL NUMBERS CONFIRMED FOR FRIDAY:  371,115

comex gold volumes are increasing dramatically

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And now for the wild silver comex results.

Total silver OI SURPRISINGLY FELL  BY ONLY 2,493 CONTRACTS  FROM 189,526 DOWN TO 187,033 DESPITE YESTERDAY’S 13 CENT LOSS IN PRICE.  HOWEVER WE DID HAVE ANOTHER STRONG 5387 EMERGENCY EFP’S FOR MARCH ISSUED BY OUR BANKERS (ZERO FOR DECEMBER) TO COMEX LONGS WHO RECEIVED A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.THE TOTAL EFP’S ISSUED: 5387.  IT SURE LOOKS LIKE THE SILVER BOYS HAVE STARTED TO MIGRATE TO LONDON FROM THE START OF DELIVERY MONTH AND CONTINUING RIGHT THROUGH UNTIL FIRST DAY NOTICE JUST LIKE WE ARE WITNESSING TODAY.  USUALLY WE NOTED THAT CONTRACTION IN OI OCCURRED ONLY DURING THE LAST WEEK OF AN UPCOMING ACTIVE DELIVERY MONTH. THIS PROCESS HAS JUST BEGUN IN EARNEST IN SILVER STARTING IN SEPTEMBER.  HOWEVER, IN GOLD, WE HAVE BEEN WITNESSING THIS FOR THE PAST 2 YEARS.  WE HAD NO REAL  LONG SILVER  LIQUIDATION AS DEMAND FOR PHYSICAL SILVER REMAINS STRONG ESPECIALLY AS WE WITNESS A HUGE AMOUNT OF SILVER OUNCES STANDING FOR METAL IN DECEMBER AS WELL AS THAT MASSIVE MIGRATION OF EFPS OVER TO LONDON. IT SEEMS THAT ALL OF OUR LOST SILVER COMEX OI CONTRACTS HAVE MIGRATED OVER TO THE PHYSICAL HUB OF OUR PRECIOUS METALS, LONDON. ON A NET BASIS WE GAINED 2894 OPEN INTEREST CONTRACTS:  2493 CONTRACTS LOST AT THE COMEX WITH THE ADDITION OF  5387 OI CONTRACTS NAVIGATING OVER TO LONDON.

We are now in the big active delivery month of December and here the OI fell by 4390 contracts down to 2188.  We had 3994 notices filed upon yesterday so we LOST 396 contracts or an additional 1,980,000 oz will NOT stand in this active delivery month of December BUT THEY DID MIGRATE THEIR LONG POSITION OVER TO LONDON..

The January contract month fell by 276 contracts down to 1395.  February saw the first initial 23 oi advance. The March contract gained 2078 contracts up to 148,230.

We had 398 notice(s) filed initially for 1,990,000 oz for the DECEMBER. 2017 contract

INITIAL standings for DECEMBER

 Dec 1/2017.

Gold Ounces
Withdrawals from Dealers Inventory in oz   nil oz
Withdrawals from Customer Inventory in oz  
1484.298 oz
HSBC
Scotia
10 kilobars
Deposits to the Dealer Inventory in oz    nil oz
Deposits to the Customer Inventory, in oz 
nil
oz
No of oz served (contracts) today
 
627 notice(s)
62,700 OZ
No of oz to be served (notices)
7721 contracts
(771,600 oz)
Total monthly oz gold served (contracts) so far this month
2936 notices
293,600 oz
9.1321 tonnes
Total accumulative withdrawals  of gold from the Dealers inventory this month   NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month     xxx oz
Today we HAD  1 kilobar trans

WE HAD nil DEALER DEPOSIT:
total dealer deposits: nil oz

We had nil dealer withdrawals:
total dealer withdrawals: nil oz

we had 0 customer deposit(s):

total customer deposits nil  oz

We had 2 customer withdrawal(s)

i) Out of HSBC: 1162.798 oz

ii) Out of Scotia: 321.500 oz (10 kilobars)

Total customer withdrawals: 1488.298 oz

we had 0 adjustment(s)

*December is the biggest delivery month of the year for gold and the fact that no gold has entered the vaults these past two days speaks volumes that there is no appreciable gold at the comex to deliver upon our longs and thus the reason for the migration to London

For DECEMBER:
Today, 0 notice(s) were issued from JPMorgan dealer account and 328 notices were issued from their client or customer account. The total of all issuance by all participants equates to 627 contract(s) of which 338 notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped/ Received) by j.P.Morgan customer account.

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To calculate the INITIAL total number of gold ounces standing for the DECEMBER. contract month, we take the total number of notices filed so far for the month (2936) x 100 oz or 293,600 oz, to which we add the difference between the open interest for the front month of DEC. (8348 contracts) minus the number of notices served upon today (627 x 100 oz per contract) equals 1,065,700 oz, the number of ounces standing in this  active month of DECEMBER

Thus the INITIAL standings for gold for the DECEMBER contract month:

No of notices served (2936) x 100 oz or ounces + {(8348)OI for the front month minus the number of notices served upon today (627) x 100 oz which equals 1,065,700 oz standing in this active delivery month of DECEMBER (33.14 tonnes). INTERESTINGLY THERE IS ONLY 28 TONNES OF REGISTERED GOLD AVAILABLE FOR DELIVERY SO FAR.

LAST YEAR WE SAW CONSIDERABLE GOLD LEAVE THE COMEX THROUGH EFP’S. TODAY WE SAW 1345 CONTRACTS OR 1,345000 OZ NOT STAND AT THE COMEX BUT THESE GUYS MIGRATED OVER FOR A LONDON FORWARD.

 

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ON FIRST DAY NOTICE FOR DECEMBER,  THE INITIAL  GOLD STANDING:  39.038 TONNES STANDING

BY THE END OF THE MONTH:  FINAL: 29.791 TONNES STOOD FOR COMEX DELIVERY AS THE REMAINDER HAD TRANSFERRED OVER TO LONDON FORWARDS.

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

Total dealer inventory 922,639.946 or 28.69 tonnes (dealer gold continues to disappear)
Total gold inventory (dealer and customer) = 8,913,360.693 or 277.24 tonnes

I have a sneaky feeling that these withdrawals of gold in kilobars are being used in the hypothecating process and are being used in the raiding of gold!
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 of hypothecated gold sent to other jurisdictions so that they will not be short with their underwritten derivatives in that jurisdiction. This would be similar to the rehypothecated gold used by Jon Corzine at MF Global.

IN THE LAST 14 MONTHS 77 NET TONNES HAS LEFT THE COMEX.

end

And now for silver

AND NOW THE DECEMBER DELIVERY MONTH

DECEMBER INITIAL standings

 Dec 1/ 2017
Silver Ounces
Withdrawals from Dealers Inventory  nil
Withdrawals from Customer Inventory
 23,979.679 oz
 Brinks
Delaware
Deposits to the Dealer Inventory
 nil
oz
Deposits to the Customer Inventory 
 1,200,022.23 oz
 Scotia
No of oz served today (contracts)
398 CONTRACT(S)
(1,990,000OZ)
No of oz to be served (notices)
1,720 contract
(8,600,000 oz)
Total monthly oz silver served (contracts) 4392 contracts

(21,960,000 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

today, we had 0 deposit(s) into the dealer account:

 

total dealer deposit: nil oz

we had nil dealer withdrawals:
total dealer withdrawals: nil oz

we had 2 customer withdrawal(s):

i) Out of Brinks:  21,906.679 oz

ii) Out of Delaware:  2073.000 oz  ??exact weight???

TOTAL CUSTOMER WITHDRAWAL  23,979.679 oz

We had 1 Customer deposit(s):

i) Into Scotia: 1,200,022.23 oz

***deposits into JPMorgan have stopped again
In the month of March and February, JPMorgan stopped (received) almost all of the comex silver contracts.
why is JPMorgan bringing in so much silver??? why is this not criminal in that they are also the massive short in silver

total customer deposits: 1,200,022.23 oz

we had 1 adjustment(s)

i) Out of Brinks:

10,578.420 oz was adjusted out of the customer and this landed into the dealer account of Brinks

 

The total number of notices filed today for the DECEMBER. contract month is represented by 398 contract(s) FOR 1,990,000 oz. To calculate the number of silver ounces that will stand for delivery in DECEMBER., we take the total number of notices filed for the month so far at 4392 x 5,000 oz = 21,960,0000 oz to which we add the difference between the open interest for the front month of DEC. (2118) and the number of notices served upon today (398 x 5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the DECEMBER contract month: 4392 (notices served so far)x 5000 oz + OI for front month of DECEMBER(2118) -number of notices served upon today (398)x 5000 oz equals 30,560,000 oz of silver standing for the DECEMBER contract month. This is EXCELLENT for this active delivery month of November.

WE LOST   396 CONTRACTS OR 1,980,000 OZ WILL NOT STAND AT THE COMEX BUT THESE LONGS MIGRATED OVER TO LONDON AS THERE IS NO APPRECIABLE SILVER AT THE COMEX FOR DELIVERIES.

 

 

ON FIRST DAY NOTICE FOR THE DECEMBER 2016 CONTRACT WE HAD 15.282 MILLION OZ STAND.

THE FINAL STANDING: 19.900 MILLION OZ AS QUEUE JUMPING INTENSIFIED.

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ESTIMATED VOLUME FOR TODAY: 97,094
CONFIRMED VOLUME FOR YESTERDAY: 97,575 CONTRACTS

YESTERDAY’S CONFIRMED VOLUME OF 97,575 CONTRACTS EQUATES TO 487 MILLION OZ OR 69.6% OF ANNUAL GLOBAL PRODUCTION OF SILVER

COMMODITY LAW SUGGESTS THAT OPEN INTEREST SHOULD NOT BE MORE THAN 3% OF ANNUAL GLOBAL PRODUCTION.  THE CROOKS ARE SUPPLYING MASSIVE PAPER TRYING TO KEEP SILVER IN CHECK.

Total dealer silver: 55.863 million
Total number of dealer and customer silver: 237.081 million oz

The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price at that day at $18.42
The previous record was 224,540 contracts with the price at that time of $20.44

end

NPV for Sprott and Central Fund of Canada

1. Central Fund of Canada: traded at Negative 1.7 percent to NAV usa funds and Negative 2.0% to NAV for Cdn funds!!!!
Percentage of fund in gold 63.0%
Percentage of fund in silver:36.7%
cash .+.3%( Dec 1/2017)

2. Sprott silver fund (PSLV): NAV FALLS TO -0.47% (Dec 1 /2017)
3. Sprott gold fund (PHYS): premium to NAV RISES TO -0.40% to NAV (Dec 1/2017 )
Note: Sprott silver trust back into NEGATIVE territory at -0.47%-/Sprott physical gold trust is back into NEGATIVE/ territory at -0.40%/Central fund of Canada’s is still in jail but being rescued by Sprott.
Sprott WINS hostile 3.1 billion bid to take over Central Fund of Canada

(courtesy Sprott/GATA)

END

And now the Gold inventory at the GLD

Dec 1/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 839.55 TONNES

Nov 30/no change in gold inventory at the GLD. Inventory rests at 839.55 tonnes

Nov 29/a withdrawal of 2.66 tonnes at the GLD/Inventory rests at 839.55 tonnes

NOV 28/ no change in gold inventory at the GLD/inventory rests at 842.21 tonnes

Nov 27 Strange!! we gold up by $6.40 today, we had a good sized withdrawal of 1.18 tonnes from the GLD. Here is something that is also strange: we have had exactly 1.18 tonnes of gold withdrawn from the comex on 5 separate occasions in the past 30 days..explanation?

Nov 24/no change in gold inventory at the GLD/Inventory rests at 843.09 tonnes

Nov 22/no change in gold inventory at the GLD/Inventory rests at 843.39 tonnes

Nov 21/no change in gold inventory at the GLD/inventory rests at 843.39 tonnes

NOV 20/no change in gold inventory at the GLD/Inventory rests at 843.39 tonnes

Nov 17/no change in gold inventory at the GLD/inventory rests at 843.39 tonnes

Nov 16./NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 843.39 TONNES

Nov 15./no change in gold inventory at the GLD/inventory rests at 843.09 tonnes

NOV 14/a small deposit of .300 tonnes into the GLD inventory/Inventory rests at 843.39 tonnes

Nov 13/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 843.09 TONNES

Nov 10/no change in gold inventory at the GLD/Inventory rests at 843.09 tonnes

Nov 9/no changes in inventory at the GLD/Inventory rests at 843.09 tonnes

NOV 8/ANOTHER HUGE WITHDRAWAL OF 1.18 TONNES OF GOLD FROM THE GLD DESPITE GOLD’S RISE TODAY. INVENTORY RESTS AT 843.09

Nov 7/a huge withdrawal of 1.48 tonnes of gold from the GLD/Inventory rests at 844.27 tonnes

NOV 6/ a tiny withdrawal of .29 tonnes to pay for fees etc/inventory rests at 845.75 tonnes

Nov 3/no change in gold inventory at the GLD/Inventory rests at 846.04 tonnes

NOV 2/STRANGE!!! WE HAD ANOTHER WITHDRAWAL OF 3.55 TONNES FROM THE GLD DESPITE GOLD’S RISE OF $6.60 YESTERDAY AND $1.55 TODAY/INVENTORY RESTS AT 846.04 TONNES

Nov 1/a withdrawal of 1.18 tonnes of gold from the GLD/Inventory rests at 849.59 tonnes

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Dec 1/2017/ Inventory rests tonight at 839.55 tonnes

*IN LAST 284 TRADING DAYS: 101.40 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 219 TRADING DAYS: A NET 55.88 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.
*FROM FEB 1/2017: A NET 24.77 TONNES HAVE BEEN ADDED.

end

Now the SLV Inventory

Dec 1/VERY STRANGE!! WITH SILVER IN THE DUMPSTER THESE PAST FEW DAYS, SLV ADDS 2.076 MILLION OZ/???

Nov 30/no changes in silver inventory despite the huge drop in price/inventory rests at 317.130 million oz

Nov 29/no changes in silver inventory at the SLV/Inventory rests at 317.130 million oz/strange!! at drop of 32 cents and no change in inventory?

Nov 28/no change in silver inventory at the SLV/Inventory rests at 317.130 million oz.

Nov 27/NO CHANGE IN SILVER INVENTORY DESPITE A ZERO GAIN IN PRICE /QUITE OPPOSITE TO GOLD WHICH SAW 1.18 TONNES OF GOLD WITHDRAWN DESPITE A RISE IN PRICE OF $6.40

Nov 24/A WITHDRAWAL OF 944,000 OZ OF SILVER FROM THE SLV//INVENTORY RESTS AT 317.130 MILLION OZ

Nov 22/no change in silver inventory at the SLV/Inventory rests at 318.074 million oz.

Nov 21/no change in silver inventory at the SLV/inventory rests at 318.074 million oz/

NOV 20/no change in silver inventory at the SLV/inventory rests at 318.074 million oz

Nov 17/no change in silver inventory at the SLV/inventory rests at 318.074 million oz/

Nov 16./NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.074 MILLION OZ/

Nov 15./no change in silver inventory at the SLV/inventory rests at 318.074 tones

NOV 14/no change in silver inventory at the SLV/Inventory rests at 318.074 tonnes

Nov 13/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.074 MILLION OZ

Nov 10/no change in silver inventory at the SLV/Inventory rests at 318.074 million oz/

Nov 9/no change in silver inventory at the SLV/inventory rests at 318.074 million oz.

NOV 8/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.074 MILLION OZ

Nov 7/a huge withdrawal of 944,000 oz from the SLV/inventory rests at 318.074 million oz/

NOV 6/no change in silver inventory at the SLV/Inventory rests at 319.018 million oz/

Nov 3/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS TONIGHT AT 319.018 MILLION OZ.

NOV 2/A TINY LOSS OF 137,000 OZ BUT THAT WAS TO PAY FOR FEES LIKE INSURANCE AND STORAGE/INVENTORY RESTS AT 319.018 MILLION OZ/

Nov 1/STRANGE! WITH SILVER’S HUGE 48 CENT GAIN WE HAD NO GAIN IN INVENTORY AT THE SLV/INVENTORY RESTS AT 319.155 MILLION OZ/

 

 

 

Dec 1/2017:

Inventory 319.207 million oz

end

6 Month MM GOFO
Indicative gold forward offer rate for a 6 month duration

+ 1.52%
12 Month MM GOFO
+ 1.82%
30 day trend

end

 

I normally provide the COT which we receive at 3 :30 pm.  Since we have discovered massive amounts of long contracts in gold and silver are transferred to London (through EFP’s) with the bankers having the same obligation to deliver but over there, I felt that the data provides nothing to us to aid us in predicting what the crooks are up to. Thus I will not provide it from this day forth, as I do not want you to waste your time reading the crap data.

Major gold/silver trading/commentaries for FRIDAY

GOLDCORE/BLOG/MARK O’BYRNE.

GOLD/SILVER

Goldcore:

Risk Of Online Accounts Seen As One of Largest Brokerages In World Halts Online Trading After “Glitch”

– ‘Technical issue’ at Fidelity temporarily blocks access to online accounts and halts online trading
– Fidelity is 3rd largest brokerage by client assets: $1.7 trillion at the end of 2016
– NatWest, RBS, Ulster Bank  have experienced online banking “issues” in November
– Clients left without access to funds & failed payments & little to no recourse
– Social media exposing the banks’ and online trading platforms’ shortcomings
– Reminder that online accounts can be rendered non-viable and vulnerability of absolute dependence and digital cash, digital gold etc

Editor: Mark O’Byrne

Yesterday, customers of Fidelity, the third largest brokerage in the world, found themselves unable to access their online accounts.

The company is responsible for an estimated 8% of total US wealth management. With such a huge responsibility, Fidelity,  like most companies, works hard to ensure clients have access to online accounts at all times.

Yet it still happened, reminding investors of the risks posed by digital assets – be they stocks, gold or indeed deposits – held solely through online accounts and platforms – the ‘Single point of failure’.

Fidelity is just one of many online “outages” or “glitches” reported by financial institutions in the last year. In Europe, particularly the United Kingdom, banking customers have found themselves regularly facing bank account ‘glitches’. It is thanks to social media that some of these even come to the fore, with many organisations keen to sweep them under the carpet.

Investors, savers and, in fact, any user of online services needs to be aware of the risks and how to protect themselves in the case of a sudden ‘access denied’ message or worse, a prolonged period of not being able to access, trade and or withdraw funds from an online account.

Not like the old days…

Prior to online accounts it rarely occurred to users that they could suddenly be without access to funds, unable to make transactions or even receive their wages. Sadly, with the dawn of the internet and growing cyber security risks this is something no-one can afford to be without a plan-B for.

Outages can happen for a number of reasons, but many result in customers being unable to transact and being without funds.

In the case of Fidelity, it appears to have been an internal error, which also seems to be the common thread among many banking outages. However, cyber security is a major threat to any account that involves personal data and financial information.

Just this week Uber finally admitted exposing hackers to over 2.7 million customers’ data, putting savings and futures at risk.

We must also consider what happened in Puerto Rico for a lesson in how vulnerable we are should natural disasters impede access to much needed personal funds for days and weeks.

Absolute reliance on online accounts and digital cash and digital gold is not prudent. When such accounts can be rendered non-viable in a matter of seconds, there is little recourse for the digital saver and investor should they not also own some tangible assets.

Social media prevents cover-up

Online account failures are becoming more common. We are increasingly aware of this thanks to social media. Whilst the majority of outages experienced in the West are resolved within a few hours (in the case of Fidelity it was hours) or days, customers are left feeling nervous and frustrated and in some cases they experience real repercussions. Rents are not paid, important direct debits fail and charges are incurred.

This last month Lloyds and Halifax Bank of Scotland experienced major issues with accounts. Some account holders not only found transactions weren’t processed but also logged in to be told they no longer had an account with their bank.

Many customers in the recent Natwest outage were particularly frustrated at the bank’s lack of communication and failure to alert account holders to the problem.

“Not just an online problem, my bank card is not working now as well for online payments! People have bills to pay, how much longer?”

“You were acknowledging this problem over an hour ago but only to those that tweeted you directly. Why has it taken so long for a public tweet?”

Also this week Nationwide customers found themselves embarrassed when their funded accounts suggested they had no money: