GOLD: $1332.15 UP $5.55

Silver: $16.92 DOWN 6 cents

Closing access prices:

Gold $1341.60

silver: $17.05

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: $1344.35 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1336.30

PREMIUM FIRST FIX: $8.05

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SECOND SHANGHAI GOLD FIX: $1341.61

NY GOLD PRICE AT THE EXACT SAME TIME: $1337.00

Premium of Shanghai 2nd fix/NY:$4.61

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1337.10

NY PRICING AT THE EXACT SAME TIME: $1336.75

LONDON SECOND GOLD FIX 10 AM: $1333.40

NY PRICING AT THE EXACT SAME TIME. $1334.40

For comex gold:

JANUARY/

NUMBER OF NOTICES FILED TODAY FOR JANUARY CONTRACT: 162 NOTICE(S) FOR 16200 OZ.

TOTAL NOTICES SO FAR: 684 FOR 68400 OZ (2.1275 TONNES),

For silver:

jANUARY

9 NOTICE(S) FILED TODAY FOR

45,000 OZ/

Total number of notices filed so far this month: 716 for 3,580,000 oz

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Bitcoin: BID $10,100/OFFER $10,194  DOWN $628 (morning)

 Bitcoin: BID   $10,929/OFFER  $11,029 UP $204.00  (CLOSING/4 PM)

end

Let us have a look at the data for today

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In silver, the total open interest ROSE BY A CONSIDERABLE 2612 contracts from 197,449 RISING TO 200,061 DESPITE YESTERDAY’S  5 CENT LOSS IN SILVER PRICING.  WE THUS HAVE ZERO COMEX LIQUIDATION. HOWEVER, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER SMALL SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE:  947 EFP’S FOR MARCH AND ZERO FOR OTHER MONTHS  AND THUS TOTAL ISSUANCE OF 947 CONTRACTS. HOWEVER THE MOVEMENT ACROSS TO LONDON IS NOT AS SEVERE AS IN GOLD AS THERE SEEMS TO BE  MAJOR PLAYERS WILLING TO TAKE ON THE BANKS AT THE COMEX. STILL, WITH THE TRANSFER OF 947 CONTRACTS, 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. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24 HRS IN THE ISSUING OF EFP’S.

ACCUMULATION FOR EFP’S/SILVER/ STARTING FROM FIRST DAY NOTICE/FOR MONTH OF JANUARY:

35,199 CONTRACTS (FOR 16 TRADING DAYS TOTAL 35,199 CONTRACTS OR 175.995 MILLION OZ: AVERAGE PER DAY: 2347 CONTRACTS OR 11.735 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  175.995 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 25.12% OF ANNUAL GLOBAL PRODUCTION

RESULT: A HUGE SIZED GAIN IN OI COMEX DESPITE THE 5 CENT GAIN IN SILVER PRICE WHICH USUALLY INDICATES ANOTHER FAILED BANKER SHORT-COVERING. WE ALSO HAD A SMALL SIZED EFP ISSUANCE OF 947 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. SPECULATORS CONTINUED THEIR INTEREST IN ATTACKING THE SILVER COMEX FOR PHYSICAL SILVER . FROM THE CME DATA 947 EFP’S WERE ISSUED FOR TODAY  FOR A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS. WE REALLY GAINED 3656 OI CONTRACTS i.e. 828 open interest contracts headed for London (EFP’s) TOGETHER WITH A INCREASE OF 2612  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE  FALL IN PRICE OF SILVER OF 5 CENTS AND A CLOSING PRICE OF $16.98 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A GOOD AMOUNT OF SILVER STANDING AT THE COMEX.

In ounces AT THE COMEX, the OI is still represented by just OVER 1 BILLION oz i.e. 1.0005 BILLION TO BE EXACT or 141% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT JANUARY MONTH/ THEY FILED: 9 NOTICE(S) FOR 45,000 OZ OF SILVER

In gold, the open interest SHOCKINGLY FELL AGAIN BY A CONSIDERABLE 13,233 CONTRACTS DOWN TO 573,295 DESPITE THE TINY SIZED FALL IN PRICE OF GOLD WITH YESTERDAY’S TRADING ($0.85). IN GOLD THE LONGS STARTED THEIR MOVEMENT FROM COMEX LONGS OVER TO LONDON BASED FORWARDS THROUGH THE EFP ROUTE.  WE RECEIVED THE TOTAL NUMBER OF GOLD EFP’S ISSUED FOR TUESDAY AND IT TOTALED A GOOD SIZED  11,759 CONTRACTS OF WHICH THE MONTH OF JANUARY SAW 160 ISSUED, FEBRUARY SAW 9499 CONTRACTS,  APRIL SAW THE ISSUANCE OF 1900 CONTRACTS AND FINALLY DEC SAW 200 ISSUED.   The new OI for the gold complex rests at 574,768. ALSO REMEMBER THAT THERE CAN BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EFP DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE CONTINUE TO WITNESS A HUGE NUMBER OF EFP TRANSFERS TOGETHER WITH THE MASSIVE INCREASE IN GOLD COMEX OI  TOGETHER WITH  THE TOTAL AMOUNT OF GOLD OUNCES STANDING FOR JANUARY COMEX. 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 (BIG RISE IN BOTH GOFO AND SIFO) AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES. IN ESSENCE TODAY WE HAVE A SMALL LOSS OF 1474  CONTRACTS: 13,233 OI CONTRACTS DECREASED AT THE COMEX AND A GOOD SIZED  11,759 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. EXPECT HUGE NUMBERS OF EFP’S TO BE ISSUED AS WE APPROACH FIRST DAY NOTICE IN THE GOLD FEB COMEX CONTRACT, WEDNESDAY JAN 31.2018

YESTERDAY, WE HAD 5774 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JANUARY STARTING WITH FIRST DAY NOTICE: 152.251 CONTRACTS OR 1.5251 MILLION OZ OR 474.37 TONNES (16 TRADING DAYS AND THUS AVERAGING: 9515 EFP CONTRACTS PER TRADING DAY OR 9515 OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :   SO FAR THIS MONTH IN 16 TRADING DAYS: IN  TONNES: 474 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2200 TONNES

THUS EFP TRANSFERS REPRESENTS 474/2200 TONNES =  21.54% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JANUARY ALONE.

Result: A SHOCKINGLY STRONG SIZED DECREASE IN OI AT THE COMEX DESPITE THE TINY SIZED FALL IN PRICE IN GOLD TRADING ON YESTERDAY ($0.85). WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 11,759. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX AND YET WE ALSO OBSERVED A HUGE DELIVERY MONTH FOR THE 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 11,759 EFP CONTRACTS ISSUED, WE HAD A NET LOSS IN OPEN INTEREST OF 1,474 contracts ON THE TWO EXCHANGES:

11,759 CONTRACTS MOVE TO LONDON AND  13,233 CONTRACTS DECREASED AT THE COMEX. (in tonnes, the LOSS in total oi equates to 4.58 TONNES).  HOWEVER THE LOSS IN OI IS DUE TO THE DELAY IN THE ISSUANCE OF EFP’S WHICH CAN GENERALLY TAKE UP TO AN ADDITIONAL 48 HRS.

we had: 162 notice(s) filed upon for 16200 oz of gold.

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

GLD

With gold UP $5.55, we had  a huge change in gold inventory at the GLD

Inventory rests tonight: 846.67 tonnes.

SLV/ 

A BIG CHANGES IN SILVER INVENTORY AT THE SLV/A HUGE WITHDRAWAL OF 1.131 MILLION OZ FROM THE SLV INVENTORY/

INVENTORY RESTS AT 313.048 MILLION OZ/

end

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

1. Today, we had the open interest in silver ROSE BY A CONSIDERABLE 2612 contracts from 194,808 UP TO 200,061 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE  THE FALL  IN PRICE OF SILVER TO THE TUNE OF 5 CENTS WITH RESPECT TO  YESTERDAY’S TRADING.   OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER GOOD 947 PRIVATE EFP’S FOR MARCH (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM) AND 0 EFP’S FOR ALL OTHER MONTHS .  EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. WE HAD ZERO COMEX SILVER COMEX LIQUIDATION. IF WE TAKE THE  OI GAIN AT THE COMEX OF  2612 CONTRACTS TO THE 947 OI TRANSFERRED TO LONDON THROUGH EFP’S WE OBTAIN A BIG GAIN OF 3559 OPEN INTEREST CONTRACTS.  WE STILL HAVE A GOOD AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN JANUARY (SEE BELOW). THE NET GAIN TODAY IN OZ ON THE TWO EXCHANGES: 17.79 MILLION OZ!!!

RESULT: A GOOD SIZED INCREASE IN SILVER OI AT THE COMEX DESPITE THE TINY FALL  OF 5 CENTS IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING). BUT WE ALSO HAD ANOTHER 947 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE GOOD  SIZED AMOUNT OF SILVER OUNCES STANDING FOR JANUARY, DEMAND FOR PHYSICAL SILVER INTENSIFIES AS WE WITNESS MAJOR BANK SHORT COVERING ACCOMPANIED BY INCREASES IN GOFO AND SIFO RATES INDICATING SCARCITY.

(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 SUNDAY night/MONDAY morning: Shanghai closed UP 13.49 points or 0.39% /Hang Sang CLOSED UP 138.52 pts or 0.43% / The Nikkei closed UP 8.27 POINTS OR 0.03%/Australia’s all ordinaires CLOSED DOWN 0.21%/Chinese yuan (ONSHORE) closed  UP at 6.4032/Oil DOWN to 63.35 dollars per barrel for WTI and 68.47 for Brent. Stocks in Europe OPENED ALL GREEN.   ONSHORE YUAN CLOSED UP AGAINST THE DOLLAR AT 6.4032. OFFSHORE YUAN CLOSED DOWN AGAINST  THE ONSHORE YUAN AT 6.4069//ONSHORE YUAN STRONGER AGAINST THE DOLLAR/OFF SHORE STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  MUCH WEAKER AGAINST ALL MAJOR CURRENCIES. CHINA IS VERY  HAPPY TODAY.(GOOD MARKETS )

3a)THAILAND/SOUTH KOREA/NORTH KOREA

i)/South Korea/China/USA

b) REPORT ON JAPAN

3 c CHINA

4. EUROPEAN AFFAIRS

( Tom Luongo)

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

6 .GLOBAL ISSUES

7. OIL ISSUES

8. EMERGING MARKET

9. PHYSICAL MARKETS

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

e)Comey’s chief of Staff, Rybicki, the guy who worked on the Clinton exoneration letter quits one week after his congressional testimony..probably thrown under the bus for what he said

 

Let us head over to the comex:

The total gold comex open interest SHOCKINGLY FELL BY A CONSIDERABLE 13,233 CONTRACTS DOWN to an OI level of 573,295 DESPITE THE TINY  FALL IN THE PRICE OF GOLD ($0.85 LOSS WITH RESPECT TO YESTERDAY’S TRADING).   WE HAD CONSIDERABLE COMEX GOLD LIQUIDATION AS THE LONGS HAVE STARTED ON THE MIGRATION INTO LONDON BASED FORWARDS THROUGH THE EFP ROUTE.   THE BANKERS ISSUED ANOTHER STRONG COMEX TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS. THE CME REPORTS THAT A GOOD SIZED 160 CONTRACTS FOR JANUARY, 9499 EFP’S WERE ISSUED FOR FEBRUARY , 1900 EFP’s  FOR APRIL, AND 200 FOR DECEMBER:  TOTAL  11,759 CONTRACTS. THE OBLIGATION STILL RESTS WITH THE BANKERS ON THESE TRANSFERS. ALSO REMEMBER THAT THERE CAN BE A DELAY OF UP TO 48 HRS AFTER LONGS GIVE UP THEIR COMEX CONTRACTS AS THEY ARE NEGOTIATING A PRIVATE EFP CONTRACT WITH THE BANKS… THE COMEX IS NOW AN ABSOLUTE FRAUD!!

ON A NET BASIS IN OPEN INTEREST WE LOST TODAY: 1,474 OI CONTRACTS IN THAT 11,759 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE LOST 13,233 COMEX CONTRACTS. NET LOSS ON THE TWO EXCHANGES: 1,474 contracts OR 147,400  OZ OR 4.5874 TONNES

Result: A  SURPRISING AND STRONG  DECREASE IN COMEX OPEN INTEREST DESPITE THE TINY FALL IN YESTERDAY’S GOLD TRADING ($0.85.) WE HAD CONSIDERABLE COMEX GOLD LIQUIDATION.  TOTAL OPEN INTEREST LOSS ON THE TWO EXCHANGES: 1474 OI CONTRACTS..

We have now entered the active contract month of JANUARY. The open interest for the front month of JANUARY saw it’s open interest RISE by 110 contracts RISING TO 185.  We had 50 notices served upon yesterday so we GAINED 160  contracts or an additional 16,000 oz of gold will  stand AT THE COMEX in this non active month of January AS QUEUE JUMPING RETURNS WITH A VENGEANCE.

FEBRUARY saw a LOSS of 64,018 contacts DOWN to 226,529.  March saw a GAIN of 189 contracts UP to 805.  April saw a GAIN of 47,427 contracts UP to 227,410.

We had 162 notice(s) filed upon today for 16200 oz

 

PRELIMINARY VOLUME TODAY ESTIMATED;  410,638

FINAL NUMBERS CONFIRMED FOR YESTERDAY:  454,555

comex gold volumes are RISING AGAIN

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And now for the wild silver comex results.

Total silver OI ROSE BY A CONSIDERABLE 2612  CONTRACTS FROM 197,449 UP TO 200,061 DESPITE YESTERDAY’S TINY  5 CENT FALL.  WE WERE ALSO INFORMED THAT WE HAD ANOTHER SMALL SIZED 947 EMERGENCY EFP’S FOR MARCH ISSUED BY OUR BANKERS (AND ZERO FOR ALL OTHER MONTHS)  TO COMEX LONGS WHO RECEIVED A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON: THE TOTAL EFP’S ISSUED: 947.   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 AS WE HAVE JUST SEEN IN GOLD TODAY. THIS PROCESS HAS JUST BEGUN IN EARNEST IN SILVER STARTING IN SEPTEMBER 2017. HOWEVER, IN GOLD, WE HAVE BEEN WITNESSING THIS FOR THE PAST 2 YEARS. NICK LAIRD WAS KIND ENOUGH TO SUPPLY US THE TOTAL FOR 2017 GOLD EFP’S AND IT WAS 6600 TONNES FOR THE ENTIRE YEAR.  WE HAD  ZERO LONG COMEX SILVER LIQUIDATION AND A GOOD SIZED RISE IN TOTAL SILVER OI. WE ARE ALSO WITNESSING A FAIR AMOUNT OF SILVER OUNCES STANDING FOR COMEX METAL IN THIS NON ACTIVE JANUARY AS WELL AS THAT CONTINUAL MIGRATION OF EFPS OVER TO LONDON. ON A PERCENTAGE BASIS THERE ARE MORE EFP’S ISSUED FOR GOLD THAN SILVER.  ON A NET BASIS WE GAINED 3559 SILVER OPEN INTEREST CONTRACTS:

2612 CONTRACT GAIN AT THE COMEX COMBINING WITH THE ADDITION OF 947 OI CONTRACTS NAVIGATING OVER TO LONDON.

NET GAIN TWO EXCHANGES: 3559 CONTRACTS

We are now in the poor non active delivery month of January and here the OI LOST 18 contracts FALLING TO 15.  We had 19 notices served upon yesterday, so we GAINED 1 contract or an additional 5,000 oz will stand for delivery  AT THE COMEX  AND QUEUE JUMPING CONTINUES

February saw a GAIN OF 1 OI contracts RISING TO 159. The March contract GAINED 1564 contracts UP to 139,819.

We had 9 notice(s) filed for NIL 45,000 for the January 2018 contract for silver

For JANUARY:
Today, 160 notice(s) were 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 162 contract(s) of which 3 notices were stopped (received) by j.P. Morgan dealer and 17 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 JANUARY. contract month, we take the total number of notices filed so far for the month (684) x 100 oz or 68400 oz, to which we add the difference between the open interest for the front month of JAN. (185 contracts) minus the number of notices served upon today (162 x 100 oz per contract) equals 70,700 oz, the number of ounces standing in this active month of JANUARY

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

No of notices served (684 x 100 oz or ounces + {(185)OI for the front month minus the number of notices served upon today (162 x 100 oz which equals 70,700 oz standing in this active delivery month of JANUARY (2.199 tonnes). THERE IS 18.245 TONNES OF REGISTERED GOLD AVAILABLE FOR DELIVERY SO FAR.

WE gained 160 CONTRACTS OR AN ADDITIONAL 16000 OZ WILL STAND IN THIS NON ACTIVE DELIVERY MONTH OF JANUARY AS QUEUE JUMPING INTENSIFIES

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ON FIRST DAY NOTICE FOR JANUARY 2017, THE INITIAL GOLD STANDING: 3.904 TONNES STANDING

BY THE END OF THE MONTH: FINAL: 3.555 TONNES STOOD FOR COMEX DELIVERY AS THE REMAINDER HAD TRANSFERRED OVER TO LONDON FORWARDS.

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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 68 NET TONNES HAS LEFT THE COMEX.

end

And now for silver

AND NOW THE DECEMBER DELIVERY MONTH

DECEMBER FINAL standings

we had no inventory movement at the dealer side of things

total inventory movement dealer: nil oz

we had 4 inventory deposits into the customer account

i) JPMorgan continues to add silver to its inventory:

Deposit:  1,024,517.000 ??? oz

ii)Into Brinks: 5054.65 oz

iii) Into CNT: 600,874,830 oz

iv) Into Scotia: 599,529.230 oz

total inventory deposits: 2,229,975.110 oz

we had 3 withdrawals from the customer account;

i) Out of CNT: 809,637.67 oz

ii) Out of Delaware:  4854.60  oz

iii) Out of Brinks; 2,891,526.134 oz

total withdrawals;  3,706,018.404 oz

we had 0 adjustment

total dealer silver:  45.461 million

total dealer + customer silver:  246.54 million oz

The total number of notices filed today for the JANUARY. contract month is represented by 9 contract(s) FOR 45,000 oz. To calculate the number of silver ounces that will stand for delivery in JANUARY., we take the total number of notices filed for the month so far at 716 x 5,000 oz = 3,580,000 oz to which we add the difference between the open interest for the front month of JAN. (15) and the number of notices served upon today (9 x 5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the JANUARY contract month: 716(notices served so far)x 5000 oz + OI for front month of JANUARY(15) -number of notices served upon today (9)x 5000 oz equals 3,610,000 oz of silver standing for the JANUARY contract month. This is VERY GOOD for this NONACTIVE delivery month of JANUARY.  WE GAINED 1 CONTRACTS OR AN ADDITIONAL 5,000  OZ WILL  STAND FOR DELIVERY IN THIS NON ACTIVE DELIVERY MONTH OF JANUARY AS QUEUE JUMPING CONTINUES AS WE PROCEED TO MONTH’S END.

ON FIRST DAY NOTICE FOR THE JANUARY 2017 CONTRACT WE HAD 3.790 MILLION OZ STAND.

THE FINAL STANDING: 3,730 MILLION OZ

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I almost fell from my chair:  we received volumes at the comex and they were on time

ESTIMATED VOLUME FOR TODAY: 86,349

CONFIRMED VOLUME FOR FRIDAY:   60,061 CONTRACTS

YESTERDAY’S CONFIRMED VOLUME OF 60,061 CONTRACTS EQUATES TO  300 MILLION OZ OR 42.9% 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.

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 

1. Sprott silver fund (PSLV): NAV RISES TO -1.36% (Jan 22/2018)
2. Sprott gold fund (PHYS): premium to NAV RISES TO -0.44% to NAV (Jan 22/2018 )
Note: Sprott silver trust back into NEGATIVE territory at -1.36%-/Sprott physical gold trust is back into NEGATIVE/ territory at -0.44%/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)

3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA): NAV FALLS TO 2.85%: NAV 13.90/TRADING 13.56//DISCOUNT 2.85%

MAKES NO SENSE!!

END

And now the Gold inventory at the GLD/

Jan 23/NO CHANGE IN GOLD INVENTORY DESPITE GOLD’S RISE/INVENTORY RESTS AT 846.67 TONNES

Jan 22/a huge deposit of 5.71 tonnes of gold despite a drop in price/inventory rests at 846.67 tonnes. In 3 trading days, the GLD has added 17.71 tonnes/the bankers are now in trouble!!

Jan 19/no change in gold inventory at the GLD/Inventory rests at 840.76 tonnes

Jan 18/SHOCKINGLY A HUGE DEPOSIT OF 11.80 TONNES WITH GOLD DOWN ALMOST $12.00/INVENTORY RESTS AT 840.76

Jan 17/no changes in gold inventory at the GLD/inventory rests at 828.96 tonnes

Jan 16/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 828.96 TONNES

Jan 12/no changes in inventory at the GLD despite the rise in gold price/inventory rests at 828.96 tonnes

Jan 11/ANOTHER IDENTICAL WITHDRAWAL OF 2.95 TONNES FROM THE GLD INVENTORY/INVENTORY RESTS AT 828.96 TONNES

Jan 10/with gold up today, a strange withdrawal of 2.95 tonnes/inventory rests at 831.91 tonnes

Jan 9/no changes in gold inventory at the GLD/Inventory rests at 834.88 tonnes

Jan 8/with gold falling by a tiny $1.40 and this being after 12 consecutive gains, today they announce another 1.44 tonnes of gold withdrawal from the GLD/

Jan 5/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 836.32 TONNES

Jan 4/2018/no change in gold inventory at the GLD/Inventory rests at 836.32 tonnes

Jan 3/a huge withdrawal of 1.18 tonnes of gold from the GLD/Inventory rests at 836.32 tonnes

Jan 2/2018/no changes in gold inventory at the GLD/inventory rests at 837.50 tonnes

Dec 29/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 837.50 TONNES

Dec 28/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 837.50 TONNES

Dec 27/NO CHANGES IN GOLD INVENTORY AT THE GLD/ INVENTORY RESTS AT 837.50 TONNES

Dec 26/no change in gold inventory at the GLD

Dec 22/ A DEPOSIT OF 1.48 TONNES OF GOLD INTO GLD INVENTORY/INVENTORY RESTS AT 837.50 TONNES

Dec 21′ NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 836.02 TONNES

Dec 20/DESPITE THE GOOD ADVANCE IN PRICE TODAY/THE CROOKS RAIDED THE COOKIE JAR TO THE TUNE OF 1.18 TONNES/INVENTORY RESTS AT 836.02 TONNES

Dec 19/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 837.20 TONNES

Dec 18 SHOCKINGLY AFTER TWO GOOD GOLD TRADING DAYS, THE CROOKS RAID THE COOKIE JAR BY THE SUM OF 7.09 TONNES/INVENTORY RESTS AT 837.20 TONNES

Dec 15/NO CHANGES IN GOLD INVENTORY/RESTS AT 844.29 TONNES.

Dec 14/a good sized gain of 1.48 tonnes of gold into the GLD/inventory rests at 844.29 tones

Dec 13/no changes in gold inventory at the GLD/inventory rests at 842.81 tonnes

Dec 12/SURPRISINGLY NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 842.81 TONNES

Dec 11/SURPRISINGLY NO CHANGES IN GOLD INVENTORY AT THE GLD DESPITE THE CONSTANT RAIDS ON GOLD/INVENTORY RESTS AT 842.81 TONNES

Dec 8/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 842.81 TONNES

Dec 7/A BIG WITHDRAWAL OF 2.66 TONNES FROM THE GLD/INVENTORY RESTS AT 842.81 TONNES

Dec 6/No changes in GOLD inventory at the GLD/Inventory rests at 845.47 tonnes

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Jan 19/2018/ Inventory rests tonight at 846.67 tonnes

*IN LAST 313 TRADING DAYS: 94.48 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 247 TRADING DAYS: A NET 62.83 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.

end

Now the SLV Inventory

Jan 23/ANOTHER HUGE WITHDRAWAL OF 1.131 MILLION OZ OF SILVER DESPITE THE TINY LOSS/THE CROOKS ARE USING THE INVENTORY TO RAID ON SILVER.

JAN 22.2018/with silver down by 5 cents/ the crooks at the SLV liquidate 1.321 million oz of silver/inventory rests at 314.179 million oz/

Jan 19/ no changes in silver inventory at the SLV/inventory rests at 315.500 million oz/

jan 18/A WITHDRAWAL OF 848,000 OZ OF SILVER FROM THE SLV/INVENTORY RESTS AT 315.500 MILLION OZ/

Jan 17/no changes in silver inventory at the SLV/inventory rests at 316.348 million oz/

Jan 16/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.348  MILLION OZ

Jan 12/no changes in silver inventory at the SLV/inventory rests at 316.348 million oz/

Jan 11/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.348 MILLION OZ/

Jan 10/with silver up again, we had a huge withdrawal of 1.227 million oz from the SLV/inventory rests at 316.348 million oz

Jan 9/a withdrawal of 848,000 oz from the SLV/Inventory rests at 317.575 million oz/

jan 8/no change in silver inventory at the SLV/Inventory rests at 318.423 million oz/

Jan 5/DESPITE NO CHANGE IN SILVER PRICING, WE HAD A HUGE WITHDRAWAL OF 2.026 MILLION OZ/INVENTORY RESTS AT 318.423 MILLION OZ.

Jan 4.2018/a slight withdrawal of 180,000 oz and this would be to pay for fees/inventory rests at 320.449 million oz/

Jan 3/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.629 MILLION OZ.

Jan 2/WITH SILVER UP DRAMATICALLY THESE PAST 4 TRADING DAYS, THE FOLLOWING MAKES NO SENSE: WE HAD A WITHDRAWAL OF 2.83 MILLION OZ FROM THE SLV

INVENTORY RESTS AT 320.629 MILLION OZ/

Dec 29/no changes in silver inventory at the SLV/inventory rests at 323.459 million oz/

Dec 28/DESPITE THE RISE IN SILVER AGAIN BY 13 CENTS, WE LOST ANOTHER 1,251,000 OZ OF SILVER FROM THE SILVER.

Dec 27/WITH SILVER UP AGAIN BY 17 CENTS, WE LOST ANOTHER 802,000 OZ OF SILVER INVENTORY/WHAT CROOKS/INVENTORY RESTS AT 324.780 MILLION OZ/

Dec 26/no change in silver inventory at the SLV./Inventory rests at 325.582

Dec 21/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 326.227 MILLION OZ/

Dec 20/INVENTORY REMAINS CONSTANT AT 326.337 MILLION OZ (COMPARE WITH GLD)

Dec 19/SILVER INVENTORY REMAINS CONSTANT AT 326.337 MILLION OZ

Dec 18.2017//SILVER INVENTORY CONTINUES TO REMAIN PAT./INVENTORY REMAINS AT 326.337 MILLION OZ/

INVENTORY RESTS AT 326.337 TONNES

Dec 15/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 326.337 MILLION OZ/

Dec 14/a small withdrawal of 377,000 oz and that usually means to pay for fees./inventory rests at 326.337 million oz/

Dec 13/no change in silver inventory at the SLV/Inventory rests at 326.714 million oz/

Dec 12/WOW!ANOTHER STRANGE ONE: SILVER HAS BEEN DOWN FOR 10 CONSECUTIVE DAYS, YET THE SLV ADDS ANOTHER 1.415 MILLION OZ TO ITS INVENTORY. IN THAT 10 DAY PERIOD, SLV ADDS 9.584 MILLION OZ/

INVENTORY RESTS AT 326.714 MILLION OZ

Dec 11/WOW!! ANOTHER STRANGE ONE: SILVER DESPITE BEING DOWN FOR 9 CONSECUTIVE TRADING DAYS ADDS ANOTHER 944,000 OZ TO ITS INVENTORY. FROM NOV 30 UNTIL TODAY SILVER HAS BEEN DOWN EVERY DAY. HOWEVER THE INVENTORY OF SILVER HAS RISEN 8.169 MILLION OZ.

Dec 8/A HUGE DEPOSIT OF 2.642 MILLION OZ/INVENTORY RESTS AT 324.355 MILLION OZ/

Dec 7/strange!! with the continual whacking of silver, no change in silver inventory at the SLV/Inventory rests at 321.713

Dec 6/no change in silver inventory at the SLV/Inventory remains at 21.713 million oz.

Jan 23/2017:

Inventory 313.048 million oz

end

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

+ 1.78%
12 Month MM GOFO
+ 2.15%
30 day trend

Major gold/silver trading /commentaries for TUESDAY

GOLDCORE/BLOG/MARK O’BYRNE.

GOLD/SILVER

Government Shutdown Ends – Markets Ignore Looming Debt and Bond Market Threat

23, January

---

3. ASIAN AFFAIRS

i)Late MONDAY night/TUESDAY morning: Shanghai closed UP 45.14 points or 1.29% /Hang Sang CLOSED UP 537.29 pts or 1.66% / The Nikkei closed UP 307.82 POINTS OR 1.29%/Australia’s all ordinaires CLOSED UP 0.73%/Chinese yuan (ONSHORE) closed  DOWN at 6.4054/Oil UP to 63.83 dollars per barrel for WTI and 69.27 for Brent. Stocks in Europe OPENED ALL GREEN EXCEPT PARIS.   ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.4054. OFFSHORE YUAN CLOSED DOWN AGAINST  THE ONSHORE YUAN AT 6.4126//ONSHORE YUAN WEAKER AGAINST THE DOLLAR/OFF SHORE WEAKER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  MUCH STRONGER AGAINST ALL MAJOR CURRENCIES. CHINA IS VERY  HAPPY TODAY.(GOOD MARKETS )

3 a NORTH KOREA/USA

NORTH KOREA/SOUTH KOREA/USA

China and South Korea are vowing retaliation in Trump’s tariffs on washing machines and on solar panels

 

(courtesy zerohedge)

 

 

3 b JAPAN AFFAIRS

This is important:  the Yen goes on a roller coaster ride and finally ends higher  (USA/Yen collapses) on news that inflation may be getting a foothold in Japan.  The fall in USA/Yen (rise in yen value) is great for gold and it follows exactly what Horseman Capital Clark said what happen.  To refresh your memory…for the last 4 to 5 years, Japan and Europe have a low interest rate or zero policy vs the uSA. This forced the huge money flows into the USA and this strengthened the dollar.  Now this is reversing and the money is flowing out of the uSA to Japan and Europe and thus the Yen rises along with the Euro.  This is what is propelling gold.

 

a must view

 

(courtesy zerohedge)

 

c) REPORT ON CHINA

4. EUROPEAN AFFAIRS

 

Germany

 

Not good:  a small German city of Cottbus has now banned all new refugees from entering the city as violence escalates.  The migrants were joined by neo Nazi groups as they plunger the city

 

(courtesy zero hedge)

German City Bans All New Refugees As Violent Crime Spikes

One small German city has started turning away new refugees amid an explosion of violence between the newcomers and a burgeoning (and illegal) neo-Nazi group that has taken root in the city.

Officials in the city of Cottbus – located about 120 kilometers (about 75 miles) – has been plagued by a surge of attacks from refugees and right-wing extremists since the beginning of the year.

According to Fox News, Brandenburg state police said two Syrian teenage boys were arrested under the suspicion of injuring a German teenager in the face with a knife last week.

The 16-year-old reportedly sustained injuries that were not life-threatening during a fight between Syrian and German schoolmates.

Days before the fight, a group of three Syrian asylum-seekers, aged 14, 15 and 17, attacked a51-year-old man and his wife outside a shopping center.

Officials handed the 15-year-old a “negative residency permit” effectively ordering him and his father to leave the city, Fox News reported.

The small university town – which has about 100,000 German residents – has taken in about 3,000 asylum-seekers sine German Chancellor Angela Merkel opened Germany’s doors to migrants in 2015.

Last weekend, around 100 masked neo-Nazis took part in an illegal demonstration when they marched through the city’s center, the Daily Mail reported.

Brandenburg Interior Minister Karl-Heinz Schroeter told the Mail that the ban on new refugees would be in effect ‘for the next few months’.

Cottbus will also implement safety measures including increased video surveillance, a larger presence of police officers and 10 new social worker positions throughout local schools, officials said.

A few weeks ago, a study published by a German criminologist found that the influx of mostly young, male migrants had led to an increase in violent crime.

The study, conducted by criminologist Christian Pfeiffer, was funded by the German government. It incorporated data from the northern state of Lower Saxony to examine the impact that refugees had on crime.

Ultimately, it attributed a 10.4% rise in violent crimes in the state during those two years almost exclusively to refugees.

end

Italy

This is an excellent commentary from Tom Luongo as he handicaps the upcoming election in Italy.

We have a new party, Lega Norda with 20% of the vote and a Euroskeptic. This party is joining forces with Berlusconi and together they will try and eventually free Italy from its monstrous debt and give Germany the thumbs down.

a must read..

(courtesy Tom Luongo)

Berlusconi, Italeave, & How To Checkmate Germany

Authored by Tom Luongo,

As the Italian election season heats up it’s clear that Silvio Berlusconi is right where he wants to be.

In the spotlight.

And because of that, his coalition with the Lega Norda (Northern League), while leading in the polls overall isn’t unified on much more than containing the electoral success of Movimiento 5 Stelle (5 Star Movement, or M5S).

As I talked about over the weekendLega Norda’s candidate, Matteo Salvini, is moving farther along the populist route, declaring himself a Trump-like change agent while excoriating the EU for its immigration policy.

On the other hand, Berlusconi is tempering his tone with each passing day.  First it was not leaving the euro, so-called Italeave, and more recently EU rules on budget deficits.

 

Ultimately, that’s Berlusconi’s job, to sell the EU to an Italian electorate reaching their breaking point.

M5S, the most radical of parties is leading the polls with anywhere from 26 to 30% overall.  No other party including the Democrats of sitting Prime Minister Paolo Gentolini comes close.  In fact, the Democrats are looking at support dropping below 20%.

Leaving the euro is supposedly only backed by 30% of the people.  Brexit was supposed to fail by 10-12 points and Hillary had a 98.5% chance of winning on election day.

So, while Italy’s new rules for the make-up for parliament almost guarantee a minority government, there is still a possibility of a grand coalition, similar to what Martin Schultz and Angela Merkel are trying to swindle voters into accepting in Germany.

But, the problem for Berlusconi and the Democrats, if that is their plan, is that it’s becoming obvious he is their stalking horse in this election.

He and Salvini do not see eye to eye on the subject of the euro, taxes, immigration or much else.

Euro-nly a Pawn

Salvini is out there stumping that the euro is a ‘crime against mankind.’

 

Mr Salvini said: “I believe that one single currency for 18 economies, each different in its own way, just won’t work in the long term.” But statistics here is more important than anything else.

“Since the introduction of the current currency, Italy’s debt has risen by €900bn. This experiment has failed and we should not go any further down this road.”

And he’s right.  But, the reality is that, as of right now, exiting the euro is not a winning political talking point.  Everyone is backing away from it while at the same time, everyone knows it’s in Italy’s best interest.

Including Germany.

Let’s say the current situation holds and Berlusconi and Salvini et.al. limp across the finish line with around 40% of the vote, while M5S takes 30% and the rest is divvied up between the Democrats and minor parties.

Then, with the changes to the representation rules in parliament Berlusconi could easily cut a deal with the Democrats for a Grand Coalition that sells out Italy to Brussels. But, Salvini will still wind up as Prime Minister.

Regardless of how far Lega Norda has come to become a national party, Salvini will still backed directly by a far smaller percentage of the population than M5S’s Luigi De Maio.

So, despite Berlusconi’s best maneuverings, politically, it still leaves Italy with a very weak government, which may be the point.

The difference here is that M5S will have a strong enough voice to support Salvini in any debt relief negotiations with Germany, which will have to come to pass this year.  AfD in Germany only got 13.5% of the vote. They are the official opposition.  But, M5S is the front-runner being obviously squeezed out by politicians loyal to Brussels first and Italy second (if that).

And the door opens up for him to go to the people and make the case for Italeave after dealing with Brussels.  All he has to do is invoke how Greece was treated in 2015.

Italeave Trumps Grexit

Because if Germany tries to play the hardball tactics it did with Tsipras, it likely won’t work in Italy.

Tsipras didn’t expect to win.  He wasn’t prepared for the game.  His finance minister, Yanis Varoufakis was. But Tsipras sold him out and enslaved two generations of Greeks to a debt yoke that is choking the life out of the country.

Salvini, if elected, will be facing the same thing. But will have support from Five Star Movement.  So, it will be very hard for him to betray Italy to Brussels the way Tsipras did Greece.  In fact, the path of least resistance for him is to call the EU’s bluff and allow the Italian Banks in trouble to fail.

This throws the decision back to Brussels to deal with the problem.

Because remember one thing, Salvini is right, Italy’s debt is 134% of GDP.  Most of the Italian banks are dealing with portfolios with NPLs (Non-performing loans) that top 40%.

Italy’s banking system is in terminal decline.

The European Central Bank has been propping up the price of Italian sovereign debt as the only effective buyer for nearly a year now.

Something is going to have to happen.  And if Salvini and Berlusconi continue at loggerheads over basic issues like retirement, taxes and spending, then the market is not going to look upon that kindly and will continue selling Italian debt.

Let’s not forget that the ECB will be forced by The Fed to end its bond-buying program and allow rates to rise.  So, when, not if, Italy’s debt situation becomes untenable and another crisis breaks out Salvini would be in a very good negotiating position.

Why?  Because of the old adage then when you owe the bank a thousand dollars it’s your problem.

But when you owe the bank $2 trillion dollars it’s the bank’s problem.

And the bank in this case is the ECB along with most of the rest of Europe.  The only reason anyone still owns Italian debt is because the ECB has been a buyer.  But as the chart above shows, every0ne else has been selling to the ECB for the past two years.

Checkmating the Troika

So, unless there is the political will to consolidate all of Europe’s debt under one roof, this problem lands squarely at the feet of the ECB, the Bundesbank and the farce that is German politics.

This puts the decision on the Troika – The ECB, The IMF and the European Commission — to bail them out directly or kick Italy out of the euro.  And that’s smart politics.  Make Brussels the bad guy.  And Salvini is already playing that tune perfectly.

If they were all smart, they would have the Lira ready to deploy if things go south.

Since Wolfgang Schauble stepped down as Finance Minister in Germany, there is no one ready to take his place as Mrs. Merkel’s attack dog in these negotiations.   I suspect part of the reason talks between Merkel and the Free Democrats broke down was because the FDP head, Christian Lidner, was in favor of kicking countries like Italy out of the euro-zone.

Merkel talks a tough game on this, but ultimately is about EU integration over everything else.  Schauble was as well.  And Varoufakis knew he had them dead to rights in 2015 but Tsipras folded a winning hand.

Schauble was the one who threatened euro expulsion on the Greeks which both he and Tsipras knew was unpopular.  It’s why Tsipras folded.  He wasn’t prepared to pay the political price to do what was in Greece’s best interest.

Does Salvini? Does Berlusconi?

The market at this point is handicapping that they don’t.  The headlines are all ablaze with all the Italian parties having backed off on Italeave. But is it real or just a vote-buying tactic?

For M5S it’s the latter.  The question is still out on Salvini and the Lega Norda.

If Germany tries to strong-arm Italy the same way that they strong-armed the Greeks, I don’t see it going the same way.  Ultimately, despite Berlusconi’s wrangling, a plurality of Italians are backing fundamentally Euroskeptic parties.

If Salvini is the real deal, he would use his alliance with Berlusconi to raise Lega Norda’s profile to 20%, then build a coalition with M5S after the votes are tallied, freezing out any chance of hijacking the process.

In the end, it won’t be hard for whoever is in power to make the argument in the face of a major banking and sovereign debt crisis.  Framing Germany as the bad guy will be easy and at that point the EU dives head first into its first real challenge to its authority.

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

 

6 .GLOBAL ISSUES

7. OIL ISSUES

Late in the day, both oil and gasoline slide at a huge crude inventory build. It must be the huge amount of shale production that is coming on stream

 

(courtesy zerohedge)

WTI/RBOB Slide After Surprise Crude Inventory Build

Oil closed at a 3-year high heading into tonight’s inventory data, but WTI/RBOB faded after API reported a surprise crude build (after 9 straight weekly draws). Gasoline inventories rose for the 11th week as Cushing stores fell again.

Underpinning the price rally were also assurances from Russian and Saudi Arabian oil chiefs that a historic production accord by the world’s largest producers will endure.

The comments from Saudi Arabia and Russia quell investors’ “concerns about OPEC discipline deteriorating. That should be welcome news,” Paul Crovo, a Philadelphia-based oil and equity analyst at PNC Capital Advisors LLC, said by telephone. “Inventories continue to go down. That’s all good news.”

API

• Crude +4.755mm (-2mm exp) – biggest build since September
• Cushing -3.572mm(-2.2mm exp)
• Gasoline +4.117mm (+2.2mm exp) – 11th weekly draw in a row
• Distillates -1.28mm (-1.1mm exp)

The streak of crude draws ends at 9… If this data holds up for DOE tomorrow, this will be the 11th weekly gasoline build in a row…

 

WTI/RBOB prices were exuberantly hopeful heading into API data but faded after the surprise crude build…

“You are seeing a rebalancing of the oil market,” Bart Melek, head of global commodity strategy at TD Securities in Toronto, said by telephone. “We’ve had outsized inventory declines for the last little while.”

Is that over now?

8. EMERGING MARKET

 end

And now your more important USA stories which will influence the price of gold/silver

TRADING IN GRAPH FORM FOR THE DAY

 

 

I will  see you WEDNESDAY night

HARVEY