GOLD: $1246.80 UP $8.35 (COMEX TO COMEX CLOSINGS)
Silver: $14.60 UP 16 CENTS (COMEX TO COMEX CLOSING)
Closing access prices:
Gold : 1248.70
silver: $14.62
For comex gold and silver:
DEC
NUMBER OF NOTICES FILED TODAY FOR DEC CONTRACT: 707 NOTICE(S) FOR 70,700 OZ (2.199 tonnes)
Total number of notices filed so far for DEC: 5982 for 527,500 OZ (18.606 TONNES)
FOR DECEMBER
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128 NOTICE(S) FILED TODAY FOR 640,000 OZ/
Total number of notices filed so far this month: 3328 for 16,640,000 oz
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Bitcoin: OPENING MORNING TRADE $3503: DOWN 106
Bitcoin: FINAL EVENING TRADE: $3463 DOWN136
end
XXXX
Let us have a look at the data for today
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In silver, the total OPEN INTEREST FELL BY A SMALL SIZED 125 CONTRACTS FROM 178,649 DOWN TO 178,358 WITH YESTERDAY’S 5 CENT FALL IN SILVER PRICING AT THE COMEX. TODAY WE ARRIVED FURTHER FROM AUGUST’S RECORD SETTING OPEN INTEREST OF 244,196 CONTRACTS.
WE HAVE ALSO WITNESSED A LARGE AMOUNT OF PHYSICAL METAL STAND FOR COMEX DELIVERY(WELL OVER 30 MILLION OZ AT THE COMEX FOR JULY , 6 MILLION OZ FOR AUGUST AND NOW JUST LESS THAN 31 MILLION OZ STANDING IN SEPTEMBER. AS WELL WE ARE WITNESSING CONSIDERABLE LONGS PACKING THEIR BAGS AND MIGRATING OVER TO LONDON IN GREATER NUMBERS IN THE FORM OF EFP’S. WE WERE NOTIFIED THAT WE HAD A FAIR SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP:
526 EFP’S FOR DECEMBER AND 0 FOR MARCH AND ZERO FOR ALL OTHER MONTHS AND THEREFORE TOTAL ISSUANCE: OF 526 CONTRACTS. WITH THE TRANSFER OF 526 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 24-48 HRS IN THE ISSUING OF EFP’S. THE 526 EFP CONTRACTS TRANSLATES INTO 2.630 MILLION OZ ACCOMPANYING:
1.THE 5 CENT FALL IN SILVER PRICE AT THE COMEX AND
2. THE STRONG AMOUNT OF SILVER OUNCES WHICH STOOD FOR DELIVERY IN THE LAST SIX MONTHS:
JUNE/2018. (5.420 MILLION OZ);
FOR JULY: 30.370 MILLION OZ
FOR AUG., 6.065 MILLION OZ
FOR SEPT. 39.505 MILLION OZ S
FOR OCT.2.525 MILLION OZ.
FOR NOV: A HUGE 7.440 MILLION OZ STANDING FOR NOVEMBER AND
NOW 19.070 INITIALLY STAND FOR DECEMBER.
ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF DEC: 6753 CONTRACTS (FOR 5 TRADING DAYS TOTAL 6753 CONTRACTS) OR 33.76 MILLION OZ: (AVERAGE PER DAY: 1351 CONTRACTS OR 6.75 MILLION OZ/DAY)
TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER: SO FAR THIS MONTH OF DEC: 33.76 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 4.82% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)* JUNE’S 345.43 MILLION OZ IS THE SECOND HIGHEST RECORDED ISSUANCE OF EFP’S AND IT FOLLOWED THE RECORD SET IN APRIL 2018 OF 385.75 MILLION OZ.
ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S: 2,710.79 MILLION OZ.
ACCUMULATION FOR JAN 2018: 236.879 MILLION OZ
ACCUMULATION FOR FEB 2018: 244.95 MILLION OZ
ACCUMULATION FOR MARCH 2018: 236.67 MILLION OZ
ACCUMULATION FOR APRIL 2018: 385.75 MILLION OZ
ACCUMULATION FOR MAY 2018: 210.05 MILLION OZ
ACCUMULATION FOR JUNE 2018: 345.43 MILLION OZ
ACCUMULATION FOR JULY 2018: 172.84 MILLION OZ
ACCUMULATION FOR AUGUST 2018: 205.23 MILLION OZ.
ACCUMULATION FOR SEPTEMBER 2018: 167,05 MILLION OZ
ACCUMULATION FOR OCTOBER 2018: 224.875 MILLION OZ
ACCUMULATION FOR NOVEMBER /2018: 247.18 MILLION OZ
RESULT: WE HAD A SMALL SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 185 WITH THE 5 CENT LOSS IN SILVER PRICING AT THE COMEX //YESTERDAY AS THE BOYS CONTINUE WITH THEIR CUSTOMARY MIGRATION OVER TO ETFS AT THE START OF AN ACTIVE DELIVERY MONTH. THE CME NOTIFIED US THAT WE HAD A FAIR SIZED EFP ISSUANCE OF 526 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 (SEE COMEX DATA) .
TODAY WE GAINED A TINY SIZED: 526 TOTAL OI CONTRACTS ON THE TWO EXCHANGES:
i.e 526 OPEN INTEREST CONTRACTS HEADED FOR LONDON (EFP’s) TOGETHER WITH DECREASE OF 185 OI COMEX CONTRACTS. AND ALL OF THIS DEMAND HAPPENED WITH A 5 CENT FALL IN PRICE OF SILVER AND A CLOSING PRICE OF $14.44 WITH RESPECT TO YESTERDAY’S TRADING. YET WE HAD A GIGANTIC AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY
In ounces AT THE COMEX, the OI is still represented by JUST UNDER 1 BILLION oz i.e. .9050 BILLION OZ TO BE EXACT or 129% of annual global silver production (ex Russia & ex China).
FOR THE NEW FRONT DEC MONTH/ THEY FILED AT THE COMEX: 128 NOTICE(S) FOR 640,000 OZ OF SILVER
IN SILVER,PRIOR TO TODAY, WE SET THE NEW COMEX RECORD OF OPEN INTEREST AT 243,411 CONTRACTS ON APRIL 9.2018. AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $16.51.
AND NOW WE RECORD FOR POSTERITY ANOTHER ALL TIME RECORD OPEN INTEREST AT THE COMEX OF 244,196 CONTRACTS ON AUGUST 22/2018 AND AGAIN WHEN THIS RECORD WAS SET, THE PRICE OF SILVER WAS $14.78 AND LOWER IN PRICE THAN PREVIOUS RECORDS.
ON THE DEMAND SIDE WE HAVE THE FOLLOWING:
- HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY (MARCH/2018: 27 MILLION OZ , APRIL/2018 : 2.485 MILLION OZ MAY: 36.285 MILLION OZ ; JUNE/2018 (5.420 MILLION OZ) , JULY 2018 FINAL AMOUNT STANDING: 30.370 MILLION OZ ) FOR AUGUST 6.065 MILLION OZ. , SEPT: A HUGE 39.505 MILLION OZ./ OCTOBER: 2,520,000 oz NOV AT 7.440 MILLION OZ./AND NOW DEC. AT 19.070 MILLION OZ
- HUGE RECORD OPEN INTEREST IN SILVER 243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018) AND NOW AUGUST 22/2018: 244,196 CONTRACTS, WITH A SILVER PRICE OF $14.78.
- HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017
- RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 385.75 MILLION OZ/ AND THE SECOND HIGHEST RECORDED EFP ISSUANCE JUNE 2018 345.43 MILLION OZ
AND YET, WITH THE EXTREMELY HIGH EFP ISSUANCE, WE HAVE A CONTINUAL LOW PRICE OF SILVER DESPITE THE ABOVE HUGE DEMAND. TO ME THE ONLY ANSWER IS THAT WE HAVE SOVEREIGN (CHINA) WHO IS ENDEAVOURING TO GOBBLE UP ALL AVAILABLE PHYSICAL SILVER NO MATTER WHERE, EXACTLY WHAT J.P.MORGAN IS DOING. AND IT IS MY BELIEF THAT J.P.MORGAN IS HOLDING ITS SILVER FOR ITS BENEFICIAL OWNER..THE USA GOVERNMENT WHO IN TURN IS HOLDING THAT SILVER FOR CHINA.(FOR A SILVER LOAN REPAYMENT).
IN GOLD, THE OPEN INTEREST ROSE BY SMALL SIZED 804 CONTRACTS UP TO 396,818 WITH THE GAIN IN THE COMEX GOLD PRICE/(A RISE IN PRICE OF $1.60//.YESTERDAY’S TRADING) AS THESE GUYS JOINED SILVER IN THE ROUTINE MIGRATION OVER TO ETF’S AS WE APPROACH AN ACTIVE DELIVERY MONTH.
THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A STRONG SIZED 7979 CONTRACTS:
DECEMBER HAD AN ISSUANCE OF 7979 CONTACTS AND ALL OTHER MONTHS ZERO. The NEW COMEX OI for the gold complex rests at 396,818. ALSO REMEMBER THAT THERE WILL 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. . 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 WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.
IN ESSENCE WE HAVE A STRONG SIZED GAIN IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 8783 CONTRACTS: 804 OI CONTRACTS INCREASED AT THE COMEX AND 7979 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN: 8783 CONTRACTS OR 878,300 OZ = 27.32 TONNES. AND ALL OF THIS DEMAND OCCURRED WITH A TINY RISE IN THE PRICE OF GOLD/ YESTERDAY TO THE TUNE OF $1.60??
YESTERDAY, WE HAD 5375 EFP’S ISSUED.
ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DEC : 39,302 CONTRACTS OR 3,930,200 OZ OR 122.24 TONNES (5 TRADING DAYS AND THUS AVERAGING: 7860 EFP CONTRACTS PER TRADING DAY
TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS : THIS MONTH IN 5 TRADING DAYS IN TONNES: 122.24 TONNES
TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES
THUS EFP TRANSFERS REPRESENTS 122.24/2550 x 100% TONNES = 4/79% OF GLOBAL ANNUAL PRODUCTION SO FAR IN JULY ALONE.***
ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 6,886.63 TONNES *SURPASSED ANNUAL PROD’N
ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018: 653.22 TONNES (21 TRADING DAYS)
ACCUMULATION OF GOLD EFP’S FOR FEBRUARY 2018: 649.45 TONNES (20 TRADING DAYS)
ACCUMULATION OF GOLD EFP’S FOR MARCH 2018: 741.89 TONNES (22 TRADING DAYS)
ACCUMULATION OF GOLD EFP’S FOR APRIL 2018: 713.84 TONNES (21 TRADING DAYS)
ACCUMULATION OF GOLD EFP’S FOR MAY 2018: 693.80 TONNES ( 22 TRADING DAYS)
ACCUMULATION OF GOLD EFP FOR JUNE 2018 650.71 TONNES (21 TRADING DAYS)
ACCUMULATION OF GOLD EFP FOR JULY 2018 605.5 TONNES (21 TRADING DAYS)
ACCUMULATION OF GOLD EFP FOR AUG. 2018 488.54 TONNES (23 TRADING DAYS)
ACCUMULATION OF GOLD EFP FOR SEPT 2018 470.64 TONNES (19 TRADING DAYS)
ACCUMULATION OF GOLD EFP FOR OCT. 2018 543.92 TONNES (23 TRADING DAYS)
ACCUMULATION OF GOLD EFP FOR NOV 2018: 552.88 TONNES (21 TRADING DAYS)
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
Result: A SMALL SIZED INCREASE IN OI AT THE COMEX OF 804 WITH THE GAIN IN PRICING ($1.60) THAT GOLD UNDERTOOK YESTERDAY) //.WE ALSO HAD A STRONG SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 7979 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX. 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 7979 EFP CONTRACTS ISSUED, WE HAD A VERY STRONG GAIN OF 8783 CONTRACTS IN TOTAL OPEN INTEREST ON THE TWO EXCHANGES:
7979 CONTRACTS MOVE TO LONDON AND 804 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 27.32 TONNES). ..AND ALL OF THIS DEMAND OCCURRED WITH THE RISE OF $1.60 IN YESTERDAY’S TRADING AT THE COMEX
we had: 707 notice(s) filed upon for 70,700 oz of gold at the comex.
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With respect to our two criminal funds, the GLD and the SLV:
GLD...
WITH GOLD UP $8.35 TODAY
A BIG CHANGE IN GOLD INVENTORY: A DEPOSIT OF 1.51 TONNES
/GLD INVENTORY 759.73 TONNES
Inventory rests tonight: 759.73 tonnes.
TO ALL INVESTORS THINKING OF BUYING GOLD THROUGH THE GLD ROUTE: YOU ARE MAKING A TERRIBLE MISTAKE AS THE CROOKS ARE USING WHATEVER GOLD COMES IN TO ATTACK BY SELLING THAT GOLD. IT SURE SEEMS TO ME THAT THE GOLD OBLIGATIONS AT THE GLD EXCEED THEIR INVENTORY
SLV/
WITH SILVER UP 16 CENTS TODAY:
NO CHANGE IN SILVER INVENTORY AT THE SLV
/INVENTORY RESTS AT 318.735 MILLION OZ.
end
First, here is an outline of what will be discussed tonight:
1. Today, we had the open interest in SILVER FELL BY A SMALL SIZED 185 CONTRACTS from 178,543 DOWN TO 178,358 AND MOVING A LITTLE FURTHER FROM THE NEW COMEX RECORD SET LAST IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER 1 1/3 YEARS AGO. THE PRICE OF SILVER ON THAT DAY: $17.89. AS YOU CAN SEE, WE HAVE RECORD HIGH OPEN INTERESTS IN SILVER ACCOMPANIED BY A CONTINUAL LOWER PRICE WHEN THAT RECORD WAS SET…..
.
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
526 CONTRACTS FOR DECEMBER. 0 CONTRACTS FOR MARCH AND AND ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 526 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE OI LOSS AT THE COMEX OF 185 CONTRACTS TO THE 526 OI TRANSFERRED TO LONDON THROUGH EFP’S, WE OBTAIN A SMALL GAIN OF 341 OPEN INTEREST CONTRACTS. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES: 1.705 MILLION OZ!!! AND YET WE ALSO HAVE A STRONG DEMAND FOR PHYSICAL AS WE WITNESSED A FINAL STANDING OF GREATER THAN 30 MILLION OZ FOR JULY, A STRONG 6.065 MILLION OZ FOR AUGUST.. A HUGE 39.505 MILLION OZ STANDING FOR SILVER IN SEPTEMBER… OVER 2 million OZ STANDING FOR THE NON ACTIVE MONTH OF OCTOBER., 7.440 MILLION OZ FINALLY STANDING IN NOVEMBER. AND NOW 19.070 MILLION OZ STANDING IN DECEMBER.
RESULT: A TINY SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE 5 CENT PRICING LOSS THAT SILVER UNDERTOOK IN PRICING// YESTERDAY.BUT WE ALSO HAD ANOTHER GOOD SIZED 526 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG SIZED AMOUNT OF SILVER OUNCES STANDING FOR SEPTEMBER, DEMAND FOR PHYSICAL SILVER CONTINUES TO INTENSIFY AS WE WITNESS SEVERE BACKWARDATION IN SILVER IN LONDON.
(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)FRIDAY MORNING/ THURSDAY NIGHT:
SHANGHAI CLOSED UP 0.71 POINTS OR 0.03% //Hang Sang CLOSED DOWN 92.62 POINTS OR 0.82% //The Nikkei closed DOWN 177.06 OR 0.82%/ Australia’s all ordinaires CLOSED UP 0.37% /Chinese yuan (ONSHORE) closed UP at 6.8815 AS TRUCE DECLARED FOR 3 MONTHS /Oil DOWN to 51.86 dollars per barrel for WTI and 60.84 for Brent. Stocks in Europe OPENED GREEN//. ONSHORE YUAN CLOSED UP AT 6.8815AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED DOWN ON THE DOLLAR AT 6.8881: HUGE DEVALUATION/PAST SEVERAL DAYS RESUMES// TRADE TALKS NOW ON/MAJOR PROBLEMS AT HUAWEI /CFO ARRESTED : /ONSHORE YUAN TRADING STRONGER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING STRONGER AGAINST THE DOLLAR /CHINA RETALIATES WITH TARIFFS/ TRUMP RESPONDS TO NEW TARIFFS AND IT NOW A FULL TRADE WAR COMMENCED
3A/NORTH KOREA/SOUTH KOREA
i)North Korea/South Korea/USA/
b) REPORT ON JAPAN
3 C/ CHINA
a)The following is a must must read as Luongo explains the folly of Trump’s trade wars and how ultimately the USA will fall
( Tom Luongo)
b)China is still acting cool as they prepare on some sort of retaliation to the Huawei CFO arrest
( zerohedge)
c)Not good: Huawei CFO has been charged with fraud as one of companies subsidiaries, Skycom, concealed the true relationship with Huawei as the subsidiary dealt with Iran and sold them stuff with USA made stuff.
( zerohedge)
Now that we witness the arrest of Meng on fraud charges, I guess it is safe to say that no American will wish to travel to China. Employees of USA owned companies
in China are also very worried
( zerohedge)
4/EUROPEAN AFFAIRS
i)FRANCE
France overtakes Denmark and Sweden as the most taxed nation on earth.
( Mish Shedlock/Mishtalk)
ibFRANCE
Tomorrow ought to be interesting as france readies a fleet of armoured vehicles ahead of “act iv” of the yellow vest fiots.
( zerohedge)
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
6. GLOBAL ISSUES
CANADA
With Canada in turmoil with growth decelerating and a material weaker oil sector and a drop in business sentiment, somehow Canada added a very strong 94,000 jobs last month….we are learning how to fudge data from our neighbour to the south
( zerohedge)
7. OIL ISSUES
Oil rises on a bigger than expected production cut
( zerohedge)
8 EMERGING MARKET ISSUES
9. PHYSICAL MARKETS
ii)GOOD LUCK TO THE VENEZUELANS WHO ARE TRYING TO REPATRIATE THEIR LAST 14 TONNES OF GOLD
( Reuters/GATA)
iii)Due to the criminal conviction of trader Edmonds, the USA prosecution is seeking to halt the civil lawsuit. I was misinformed: all discoveries in a civil suit are public and because of that, the prosecution gives the defendants the right to plead the 5th if their testimony incriminates them
iv) I have been watching the comex gold deliveries this month and we have seen a big change. For one, instead of gold deliveries morphing into London based forwards, we are witnessing more gold standing at the comex. To tell you the truth, I did not pay attention to the fact that the stoppers or users of the deliveries were to a large extent Goldman Sachs and one major player from JPMorgan..
10. USA stories which will influence the price of gold/silver)
MARKET TRADING
a)early morning after the release of the jobs report
gold jumps on poor jobs report/oil jumps on Saudi /OPEC oil deal/dollar dumps
( zerohedge)
b)After the USA sent out the mouthpiece Kudlow to jolt the markets northbound, the effect did not last long as investors started to dump big time
( zerohedge)
ii)Market data/
a)A big miss in the Nov. payrolls a rise to a disappointing 155,000 gain instead of 195,000. Two other downers: hourly earnings rose by only .2% instead of .3% and the average hrly week fell from 34.5 down to 35.4. All of this was blamed on the weather. The entire jobs report is a phony. It does not disclose the huge number of poor souls that give up trying to find a job
( zero hedge)
c)Soft data U.Mich sentiment is flat and the hope section plummets as home buying conditions hit a 10 yr low( zerohedge)
a)Good looking girl! Heather Nauert is to be named UN ambassador. She lacks experience but she will be fine
( zerohedge)
b)This is ominous for the Democrats…the CFO of the Clinton foundation is spilling the beans as he states:
iv)SWAMP STORIES
a)Trump slams the FBI, Comey as Mueller is set to release documents on Cohen and Manafort which may give some insight into the fake Russian probe
( zerohedge)
b)the clowns are at it again. Why waste time questioning these bozos. Trump should just release the classified documents and be done with it. The public is smart enough to realize what is going on.
( zerohedge)
Let us head over to the comex:
We are now in the non active delivery month of DECEMBER and here in this front month of December we now have 630 contracts standing for a loss of 157 contracts. We had 173 contracts stand for delivery yesterday so we gained 16 contracts or an additional 80,000 oz will stand for delivery as these guys refused to morph into London based forwards as well as negating to accept a fiat bonus. We continue where we left off last month as queue jumping in silver is the norm for at least 20 months.
After December we have the non active January contract month and here we saw a gain of 11 contracts up to 1953 contracts. February saw its another 4 contract gain to stand at 51. March, the next big delivery month after December saw a GAIN of 142 contracts UP to 145,842
FOR COMPARISON TO THE COMEX 2017 CONTRACT MONTH:
ON FIRST DAY NOTICE DEC 1.2017 WE HAD A RATHER LARGE: 19.47 MILLION OZ STAND FOR DELIVERY
BY THE END OF DECEMBER: 33.295 MILLION OZ AS QUEUE JUMPING WAS THE NAME OF THE GAME IN SILVER.
.
we still have not had any adjustments out of the dealer to the customer account to signify a settlement
END
GOOD LUCK TO THE VENEZUELANS WHO ARE TRYING TO REPATRIATE THEIR LAST 14 TONNES OF GOLD
(courtesy Reuters/GATA)
Venezuelan officials seek meeting with Bank of
England over gold repatriation,sources tell Reuters
Submitted by cpowell on Fri, 2018-12-07 01:57. Section: Daily Dispatches
By Mayela Armas
Reuters
Thursday, December 6, 2018
CARACAS — Two high-ranking Venezuelan officials are traveling to London with plans to meet with the Bank of England over the repatriation of $550 million in gold held in the bank’s coffers, according to two sources with knowledge of the situation.
The government of President Nicolas Maduro is seeking to bring 14 tonnes of gold back to Venezuela because of fears it could be caught up in international sanctions on the country, sources told Reuters this month.
…
The gold is a crucial asset for the struggling OPEC nation, where hyperinflation is expected to reach 1 million percent this year and a broad economic collapse has fueled an exodus of some 3 million people since 2015.
Maduro’s critics, including exiled opposition leader Julio Borges, have argued that the gold should not be repatriated because it could be used to finance corruption.
Finance Minister Simon Zerpa, who is under sanction by the United States over corruption concerns, and Central Bank Chief Calixto Ortega plan to discuss the issue with Bank of England officials on Friday, said the sources, who asked not to be identified. …
The Trump administration levied a new round of sanctions a month ago against Venezuela meant to disrupt its gold exports.
But blocking repatriation of Venezuela’s gold would be politically explosive for the Bank of England.
The bank offers gold custodian services to many developing countries, which would likely be concerned that they could be targeted for having adversarial relationships with Washington. …
… For the remainders of the report:
https://www.reuters.com/article/us-venezuela-gold/venezuela-officials-se…
END
What Do China And Goldman Sachs Have In Common?
Gold is not only flowing from West to East.
It is also flowing into the house account at Goldman Sachs. Or at least the paper claims for it in New York.
Below is the monthly report showing the large amounts of physical gold which have been steadily flowing through the Shanghai markets into strong hands in China.
Few commentators are talking about this.
What is less familiar, and what I have not read about much, is the very large amount of gold that Goldman Sachs has been taking delivery on the Comex this month.
Below are a few of the clearing reports below.
Notice that the big takers are the house account at Goldman, and some presumably large customer at JPM.
What’s up with that?
end
________________________________________
Mannarino Market Analysis, Mueller Exonerates Trump, FISA Declassification Coming
By Greg Hunter On December 7, 2018 In Weekly News Wrap-Ups
By Greg Hunter’s USAWatchdog.com (WNW 363 12.7.18)
The stock market has made wild swings this week. Gregory Mannarino from TradersChoice.net comes on in a special one-on-one interview to make sense of it all. Mannarino gives his analysis on stocks, bonds, interest rates, gold and silver. Is the market setting up to go higher or fall on its head? Mannarino breaks it all down.
The biggest story of the week barely got any coverage from the mainstream media (MSM) because the MSM did not like the outcome of the Muller investigation. Mueller personally signed off on giving General Michael Flynn zero prison time and basically said there was no collusion between the Trump team and the Russians.
The funeral of President George H. W. Bush (41) took up a lot of coverage this week and postponed Congressional testimony from fired FBI Director James Comey, Obama Attorney General Loretta Lynch and DOJ Prosecutor John Huber, who is looking into the FBI’s handling of investigations of Trump and Clinton in the 2016 election. This was a failed coup against President Trump, and it will all come sooner rather than later.
Join Greg Hunter as he talks about these stories and more in the Weekly News Wrap-Up.
***Video will be up shortly***
After the Wrap-Up:
Michael Pento of Pento Portfolio Strategies will be the guest for the Early Sunday Release. Pento is an expert on the financial markets, and he tells us why he sees big financial trouble coming our way.
end