I HAD A COMPUTER CRASH//COMEX HIGHLIGHTS/

AND FINAL DATA

GOLD UP 65 CENTS TO $1824.05

SILVER DOWN 20 CENTS TO 26.78

PLATINUM DOWN 9.70 TO $1210,15

PALLADIUM DOWN 17.73 TO 2865.27

PRELIMINARY OI/FINAL EFPGOLD PRICE: YESTERDAY DOWN $12.20SILVER DOWN 39 CENTS ON THE RAID
THE COMEX GOLD OI SURPRISINGLY ROSE BY 4745 CONTRACTS
WE ALSO SURPRISINGLY HAD A FAIR SIZED ISSUANCE OF EFP AT 3400
TOTAL GAIN ON THE TWO EXCHANGES:  8,145 CONTRACTS WITH OUR LOSS OF $12.20
A STRONG QUEUE JUMP OF 2100 OZ AND THUS NEW STANDING FOR MAY 4.4014
THE FRONT JUNE CONTRACT MONTH:  293,749 VS 259,239  (LAST YR MAY 13/2020
SILVER
STRONG COMEX OI LOSS:  982
STRONG EFP ISSUANCE:  1180
THUS A TINY GAIN OF 198 CONTRACTS ON OUR TWO EXCHANGES
SMALL LOSS IN SILVER OZ STANDING DOWN TO 36.650,000 OZTHERE IS NO SILVER OVER HERE.

YOUR DATA..

GOLD:$1823.40   DOWN $12.20   The quote is London spot price

Silver:$27.18  DOWN  $0.39   London spot price ( cash market)

your data.

Closing access prices:  London spot

i)Gold : $1816.15 LONDON SPOT  4:30 pm

ii)SILVER:  $27.00//LONDON SPOT  4:30 pm

COMEX DATA

JPMorgan has been receiving gold with reckless abandon and sometimes supplying (stopping)

receiving today  0/0

ISSUED: 0

Goldman Sachs:  stopped: 0

NUMBER OF NOTICES FILED TODAY FOR  MAY. CONTRACT: 0 NOTICE(S) FOR nil OZ  (0 tonnes)

TOTAL NUMBER OF NOTICES FILED SO FAR:  1394 NOTICES FOR 139400 OZ  (4.3359 tonnes) 

SILVER//MAY CONTRACT

126 NOTICE(S) FILED TODAY FOR 630,000  OZ/

total number of notices filed so far this month  : 6674 for 33,370,000  oz

SILVER

THE COMEX OI IN SILVER FELL BY A STRONG SIZED 982 CONTRACTS FROM 178,258 DOWN TO 177,268, AND FURTHER FROM  THE NEW RECORD OF 244,710, SET FEB 25/2020. THE LOSS IN OI OCCURRED WITH OUR  $0.39 LOSS IN SILVER PRICING AT THE COMEX  ON WEDNESDAY. IT SEEMS THAT THE LOSS IN COMEX OI IS PRIMARILY DUE TO HUGE BANKER AND ALGO  SHORT COVERING AS OUR BANKER FRIENDS ARE GETTING QUITE SCARED OF BASEL III COMING JUNE 28/2021 !//STRONG REDDIT RAPTOR BUYING//.. COUPLED AGAINST A STRONG EXCHANGE FOR PHYSICAL ISSUANCE. WE ALSO  HAD ZERO LONG LIQUIDATION 

WE WERE  NOTIFIED  THAT WE HAD A STRONG  NUMBER OF  COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: 1180,, AS WE HAD THE FOLLOWING ISSUANCE: MAY:  0, JUNE: 0 JULY 1180 AND ZERO ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE 1180 CONTRACTS. THE BANKERS ARE NOW BEING BITTEN BY THOSE SERIAL FORWARDS (EFP’S CIRCULATING IN LONDON)AS THEY ARE NOW BEING EXERCISED AND COMING BACK TO NEW YORK FOR REDEMPTION OF METAL.  THE COST TO SERVICE THESE SERIAL FORWARDS IS HIGH TO OUR BANKERS  BUT THEY HAVE NO CHOICE BUT TO ISSUE A FEW OF THEM! SILVER IS IN BACKWARDATION AND AS SUCH THE DANGER TO OUR BANKERS IS LONDONERS WILL PURCHASE CHEAPER FUTURES METAL OVER HERE AND THEN TAKE DELIVERY.

HISTORY OF SILVER OZ STANDING AT THE COMEX FOR THE PAST 33 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  AND

21.925 MILLION OZ FINALLY STAND FOR DECEMBER.

5.845 MILLION OZ STAND IN JANUARY.

2.955 MILLION OZ STANDING FOR FEBRUARY.:

27.120 MILLION OZ STANDING IN MARCH.

3.875 MILLION OZ STANDING FOR SILVER IN APRIL.

18.845 MILLION OZ STANDING FOR SILVER IN MAY.

2.660 MILLION OZ STANDING FOR SILVER IN JUNE//

22.605 MILLION OZ  STANDING FOR JULY

10.025   MILLION OZ INITIAL STANDING IN AUGUST.

43.030   MILLION OZ INITIALLY STANDING IN SEPT. (HUGE)

7.32     MILLION OZ INITIALLY STANDING IN OCT

2.630     MILLION OZ STANDING FOR NOV.

20.970   MILLION OZ  FINAL STANDING IN DEC

2020

5.075     MILLION OZ FINAL STANDING IN JAN

1.480    MILLION OZ FINAL STANDING IN FEB

23.005  MILLION OZ FINAL STANDING FOR MAR 

4.660  MILLION OZ FINAL STANDING FOR APRIL

45.220 MILLION OZ FINAL STANDING FOR MAY***(5THHIGHEST RECORDED STANDING FOR SILVER)

2.205  MILLION OF FINAL STANDING FOR JUNE

86.470MILLION OZ FINAL STANDING IN JULY…RECORD HIGHEST EVER RECORDED

6.475 MILLION OZ FINAL STANDING IN AUGUST

55.400MILLION OZ FINAL STANDING IN SEPT (3RD HIGHEST RECORDED STANDING)

8.900 MILLION OZ INITIALLY STANDING IN OCT.

3.950 MILLION OZ FINAL STANDING IN NOV.

46.685 MILLION OZ FINAL STANDING FOR DEC. (4TH HIGHEST RECORDED STANDING)

2021

60 MILLION FINAL STANDING FOR JAN 2021

12.020  MILLION OZ FINAL STANDING FOR FEB 2021

58.425 MILLION OZ FINAL STANDING FOR MARCH 2021//2ND HIGHEST EVER RECORDED

14.935 MILLION OZ INITIAL STANDING FOR APRIL

36.650 MILLION OZ INITIAL STANDING FOR MAY WEDNESDAY, AGAIN OUR CROOKS USED COPIOUS PAPER TRYING TO LIQUIDATE SILVER’S PRICE …AND THEY WERESUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN ,(IT FELL BY $0.39). OUR OFFICIAL SECTOR/BANKERS WERE UNSUCCESSFUL IN THEIR ATTEMPT TO FLEECE ANY SILVER LONGS AS  WE HAD A SMALL GAIN OF 198 CONTRACTS ON OUR TWO EXCHANGES.  THE GAIN WAS DUE TO i) HUGE BANKER/ALGO SHORT COVERING// WE ALSO HAD  ii) STRONG REDDIT RAPTOR BUYING//.    iii)  A STRONG ISSUANCE OF EXCHANGE FOR PHYSICALS iiii) A VERY STRONG INITIAL  SILVER STANDING FOR COMEX SILVER MEASURING AT 37.700 MILLION OZ AND THEN FALLING EACH DAY TO 36.650 MILLION OZ ON DAY 8 AS NO SILVER WAS AVAILABLE ON THIS SIDE OF THE POND!, v) STRONG COMEX OI LOSS /.YOU CAN BET THE FARM THAT OUR BANKERS  ARE DESPERATE TO LIQUIDATE THEIR HUGE SHORT POSITIONS IN SILVER..   

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS

MAY

ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY /FOR MONTH OF A MAY:

15,930 CONTRACTS (FOR 9 TRADING DAY(S) TOTAL 15,930 CONTRACTS) OR 79.650 MILLION OZ: (AVERAGE PER DAY: 1770 CONTRACTS OR 8.850 MILLION OZ/DAY)

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH OF MAY: 79.650MILLION PAPER OZ HAVE MORPHED OVER TO LONDON

JAN EFP ACCUMULATION FINAL:  113.735 MILLION OZ

FEB EFP ACCUMULATION FINAL:   208.18 MILLION OZ (RAPIDLY INCREASING AGAIN)

MAR EFP ACCUMULATION SO FAR: : 103.450 MILLION OZ  (DRAMATICALLY SLOWING DOWN AGAIN//FEARS OF EFP CONTRACTS BEING EXERCISED FOR METAL)

APRIL: 84.730 MILLION OZ  (SILVER IS NOW IN SEVERE BACKWARDATION AND THUS DRAMATICALLY FEWER ISSUANCE OF EFP’S)

MAY: 79.650 MILLION OZ. (SILVER IS STILL IN SEVER BACKWARDATION BUT EFP ISSUANCE DRAMATICALLY INCREASING AGAIN!!)

RESULT: WE HAD A  STRONG DECREASE COMEX OI SILVER COMEX CONTRACTS OF 982, WITH OUR $0.39 LOSS IN SILVER PRICING AT THE COMEX ///WEDNESDAY .…THE CME NOTIFIED US THAT WE HAD A STRONG SIZED EFP ISSUANCE OF 1180 CONTRACTS WHICH  EXITED OUT OF THE SILVER COMEX  TO LONDON  AS FORWARDS.

TODAY WE HAD A SMALL SIZED GAIN OF 198 OI CONTRACTS ON THE TWO EXCHANGES (DESPITE OUR  $0.39 FALL IN PRICE)//THE DOMINANT FEATURE TODAY// STRONG BANKER SHORTCOVERING/  AND A VERY STRONG INITIAL SILVER OZ STANDING FOR MAY. (37.770 MILLION OZ) FOLLOWED AGAIN TODAY WITH A 5,000 OZ DROP  …. SO OUR NEW STANDING FALLS TO 36,650,000 OZ.  THERE IS NO AVAILABLE SILVER OVER HERE!

THE TALLY//EXCHANGE FOR PHYSICALS

i.e  1180 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s)TOGETHER WITH A STRONG SIZED DECREASE OF 982 OI COMEX CONTRACTS.AND ALL OF THIS DEMAND HAPPENED WITH OUR $0.39 LOSS IN PRICE OF SILVER/AND A CLOSING PRICE OF $27.18//WEDNESDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY. 

WE HAD 39 NOTICES FILED TODAY FOR 195,000 OZ

IN SILVER,PRIOR TO TODAY, WE  SET THE NEW COMEX RECORD OF OPEN INTEREST AT 244,196 CONTRACTS ON AUG 22.2018. AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $14.70//TODAY’S RECORD OF 244,705 WAS SET WITH A PRICE OF: 18.91 (FEB 25/2020)

AND YET, WITH THE SILVER IN BACKWARDATION (INDICATING SCARCITY), 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) we had the open interest at the comex, in SILVER, FELL BY A STRONG SIZED 982 CONTRACTS FROM 178,258 DOWN TO 177,268 AND FURTHER FROM OUR COMEX RECORD //244,710(SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT 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  2 3/4 YEARS AGO.  

EFP ISSUANCE 1180 CONTRACTS

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:

 MAY: 0 AND JUNE: 0, JULY 1180: 0ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE:  1180 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  COMEX OI LOSS OF 982 CONTRACTS AND ADD TO THE 1180 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A SMALL  SIZED GAIN OF 198 OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES. THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES 0.990 MILLION  OZ, OCCURRED WITH OUR $0.39 LOSS IN PRICE///

BOTH THE SILVER COMEX AND THE GOLD COMEX ARE IN STRESS AS THE BANKERS SCOUR THE BOWELS OF THE EXCHANGE FOR METAL..THE EVIDENCE IS CLEAR: HUGE AMOUNTS OF PHYSICAL STANDING FOR BOTH  SILVER AND GOLD . May fell in contracts, losing 127 contracts to stand at  656 contracts.  We had 126 notices filed on WEDNESDAY so we lost 1 contract or AN ADDITIONAL 5,000 oz of silver will not  stand delivery in this very active delivery month of May. They  morphed into London based forwards  and as such accepted a handsome fiat bonus by not taking delivery over here….. 

THERE IS NO SILVER OZ TO BE HAD ON THIS SIDE OF THE ATLANTIC.

June LOST 6 contracts up to 1904.

July LOST  1396 contracts up to 145,005 contracts No of notices filed today:  39 CONTRACTS for 195,000 oz 

To calculate the number of silver ounces that will stand for delivery in MAY. we take the total number of notices filed for the month so far at  6713 x 5,000 oz = 33,565,000 oz to which we add the difference between the open interest for the front month of MAY (656) and the number of notices served upon today 39 x (5000 oz) equals the number of ounces standing.

Thus the MAY standings for silver for the MAY/2021 contract month: 6713 (notices served so far) x 5000 oz + OI for front month of MAY (656)  – number of notices served upon today (39) x 5000 oz of silver standing for the Jan contract month .equals 36,650,000 oz. ..VERY STRONG FOR AN ACTIVE MAY MONTH. 

We lost 5,000 oz of silver standing for delivery as our banker friends look for metal over on the London side. 

the big question: where is the 100 million oz of silver that Sprott has sought? 

GOLD

IN GOLD, THE COMEX OPEN INTEREST  ROSE BY A FAIR SIZED SIZED 4,745 CONTRACTS TO 503,438 ,,AND CLOSER TO OUR NEW RECORD (SET JAN 24/2020) AT 799,541 AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110. 

THE FAIR SIZED INCREASE IN COMEX OI CAME DESPITE OUR STRONG LOSS IN PRICE  OF $12.20///COMEX GOLD TRADING//WEDNESDAY.AS IN SILVER WE MUST HAVE HAD HUGE BANKER/ALGO SHORT COVERING ACCOMPANYING OUR FAIR SIZED EXCHANGE FOR  PHYSICAL ISSUANCE. WE ALSO HAD ZERO LONG LIQUIDATION AS WE HAD A STRONG SIZED GAIN OF 8145 TOTAL CONTRACTS ON OUR TWO EXCHANGES.  WE ALSO HAD A STRONG INITIAL STANDING IN GOLD TONNAGE FOR MAY AT 3.530 TONNES TO WHICH WE HAD A HUGE QUEUE JUMP OF 12,300 OZ ON DAY NO 10 AND NOW 4.4914 TONNES ARE STANDING. THIS FOLLOWED A STRONG APRIL AT 95.331 TONNES. 

YET ALL OF..THIS HAPPENED WITH OUR STRONG LOSS IN PRICE OF $12.20 WITH RESPECT TO WEDNESDAY’S TRADING

WE HAD A VOLUME OF 0    4 -GC CONTRACTS//OPEN INTEREST  0//

WE HAD A STRONG SIZED GAIN OF 8145 OI CONTRACTS (25.33 TONNES) ON OUR TWO EXCHANGES

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 3400 CONTRACTS:

CONTRACT  AND JUNE:  3400  ALL OTHER MONTHS ZERO//TOTAL: 3400 The NEW COMEX OI for the gold complex rests at 503,438. 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 EXCHANGE 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 INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 8,145 CONTRACTS:  4,745 CONTRACTS INCREASED AT THE COMEX AND 3400 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS  TOTAL OI GAIN OF 8145 CONTRACTS OR 25.73 TONNES.

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A FAIR SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (3,400) ACCOMPANYING THE FAIR SIZED GAIN IN COMEX OI  (4,745 OI): TOTAL GAIN IN THE TWO EXCHANGES:  8,145 CONTRACTS. WE NO DOUBT HAD 1 MASSIVE BANKER SHORT COVERING AS OUR BANKERS ARE RUNNING FROM DODGE AND CONSIDERABLE ALGO SHORT COVERING ,2.) STRONG INITIAL STANDING AT THE GOLD COMEX FOR MAY AT 3.530 TONNES//FOLLOWED BY A STRONG QUEUE JUMP OF 2100 OZ ON DAY 10 //NEW STANDING FOR MAY:     4.4914 TONNES 

3) ZERO LONG LIQUIDATION,  /// ;4) FAIR COMEX OI GAIN AND 5) FAIR ISSUANCE OF EXCHANGE FOR PHYSICAL AND ….ALL OF THIS HAPPENED WITH OUR STRONG LOSS IN GOLD PRICE TRADING WEDNESDAY//$12.20!!.

SPREADING OPERATIONS/NOW SWITCHING TO GOLD  (WE SWITCH OVER TO GOLD ON MAY  1)

FOR NEWCOMERS, HERE ARE THE DETAILS:

SPREADING LIQUIDATION HAS NOW COMMENCED IN GOLD  AS WE HEAD TOWARDS THE  NEW ACTIVE FRONT MONTH OF JUNE.

HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR;

MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:

.

AS I HAVE MENTIONED IN PREVIOUS COMMENTARIES:

“AS YOU WILL SEE, THE CROOKS WILL NOW SWITCH TO GOLD AS THEY INCREASE THE OPEN INTEREST FOR THE SPREADERS. THE TOTAL COMEX SILVER OPEN INTEREST WILL RISE FROM NOW ON UNTIL ONE WEEK PRIOR TO FIRST DAY NOTICE AND THAT IS WHEN THEY START THEIR CRIMINAL LIQUIDATION.

HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE NON ACTIVE DELIVERY MONTH OF APRIL. HEADING TOWARDS THE ACTIVE DELIVERY MONTH OF MAY FOR SILVER:

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE IN THIS NON ACTIVE MONTH OF MAY. BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN GOLD WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING  ACTIVE DELIVERY MONTH (MAY), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY.  THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END  OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2021 INCLUDING TODAY

MAYACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MAY : 39,153, CONTRACTS OR 3,915,300 oz OR 121.78 TONNES (9 TRADING DAY(S) AND THUS AVERAGING: 4350 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 9 TRADING DAY(S) IN  TONNES: 121.78 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2020, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS 121.78/3550 x 100% TONNES =3.40% OF GLOBAL ANNUAL PRODUCTIONACCUMULATION OF GOLD EFP’S YEAR 2021 TO DATE: JANUARY: 265.26 TONNES (RAPIDLY INCREASING AGAIN) FEB  :  171.24 TONNES  ( DEFINITELY SLOWING DOWN AGAIN)..  MARCH:.   276.50 TONNES (STRONG AGAIN///IT SURPASSED JANUARY!!)

APRIL:      189..44 TONNES  ( DRAMATICALLY SLOWING DOWN AGAIN//GOLD IN BACKWARDATION)

MAY:        121.78 TONNES  (NOW DRAMATICALLY INCREASING AGAIN)

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. 

 THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A FAIR SIZED 4,745 CONTRACTS TO 503,438 MOVING CLOSER TO FROM THE RECORD THAT WAS SET IN JANUARY/2020: {799,541  OI(SET JAN 16/2020)} AND  PREVIOUS TO THAT: 797,110 (SET JAN 7/2020).  AND THIS FAIR COMEX INCREASE OCCURRED DESPITE OUR RELATIVELY STRONG LOSS OF $12.20 IN GOLD PRICING WEDNESDAY’S COMEX TRADING…WE ALSO HAD A FAIR EFP ISSUANCE (3400 CONTRACTS). …AS THEY WERE PAID HANDSOMELY  NOT TO TAKE DELIVERY AT THE COMEX AND SETTLE FOR CASH.  

WE NORMALLY HAVE WITNESSED  EXCHANGE FOR PHYSICALS ISSUED BEING SMALL AS IT JUST TOO COSTLY FOR THEM TO CONTINUE SERVICING THE COSTS OF SERIAL FORWARDS CIRCULATING IN LONDON. HOWEVER, MUCH TO THE ANNOYANCE OF OUR BANKERS, THE COMEX IS THE SCENE OF AN ASSAULT ON GOLD AS LONDONERS, NOT BEING ABLE TO FIND ANY PHYSICAL ON THAT SIDE OF THE POND, EXERCISE THESE CIRCULATING EXCHANGE FOR PHYSICALS IN LONDON AND FORCING DELIVERY OF REAL METAL OVER HERE AS THE OBLIGATION STILL RESTS WITH NEW YORK BANKERS. IT SEEMS THAT ARE BANKERS FRIENDS ARE EXERCISING EFP’S FROM LONDON AND NOW THEY ARE LOATHE TO ISSUE NEW ONES.  

(SEE BELOW)

WE  HAD 0    4 -GC VOLUME//open interest REMAINS AT   0

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW IN THE NON ACTIVE DELIVERY MONTH OF MAY..  THE CME REPORTS THAT THE BANKERS ISSUED FAIR SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS., THAT IS 3400 EFP CONTRACTS WERE ISSUED:  ;:  0, JUNE:  3400 & JULY 0 & AND THEN DECEMBER:  0 CONTRACTS & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 3400  CONTRACTS .(DESPITE THE STRONG BACKWARDATION IN GOLD FOR JUNE/AUG VS SPOT)

WHEN WE HAVE BACKWARDATION,  EFP ISSUANCE IS VERY COSTLY BUT THE REAL PROBLEM IS THE SCARCITY OF METAL AND IT IS FAR BETTER FOR OUR BANKERS TO PAY OFF INDIVIDUALS THAN RISK INVESTORS ESPECIALLY FROM LONDON STANDING FOR DELIVERY. THE LOWER PRICES IN THE FUTURES MARKET IS A MAGNET FOR OUR LONDONERS SEEKING PHYSICAL METAL. BACKWARDATION ALWAYS EQUAL SCARCITY OF METAL!

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A VERY STRONG SIZED 8145  TOTAL CONTRACTS IN THAT 3400 LONGS WERE TRANSFERRED AS FORWARDS TO LONDON AND WE GAINED A FAIR SIZED COMEX OI OF 4,745 CONTRACTS.WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING FOR MAY   (4.4914) WHICH FOLLOWED  (95.331 TONNES) IN APRIL, WHICH FOLLOWED MARCH:  (30.205 TONNES) WHICH FOLLOWED FEB (113.424 TONNES)  WHICH FOLLOWED OUR STRONG LEVEL OF JAN 2021 GOLD . ((6.500 TONNES).  

THE BANKERS WERE SUCCESSFUL IN LOWERING GOLD’S PRICE  //// (IT FELL $12.20)., BUT  WERE  UNSUCCESSFUL IN FLEECING ANY LONGS AS WE HAD A STRONG GAIN ON OUR TWO EXCHANGES OF 8145 CONTRACTS.  THE TOTAL GAIN ON THE TWO EXCHANGES REGISTERED 25.73 TONNES,ACCOMPANYING OUR STRONG GOLD TONNAGE STANDING FOR MAY (4.4914 TONNES)..I  STRONGLY BELIEVE THAT 0UR BANKER FRIENDS ARE GETTING QUITE NERVOUS.  THE HUGE GAIN IN COMEX OI IS DUE TO BANKER SHORT COVERING IN A BIG WAY.  THEY ARE LOOKING OVER THEIR SHOULDERS AND WITNESSING MASSIVE SILVER/GOLD SHORTAGES THAT CANNOT BE COVERED. THEY ARE TRYING TO FLEE IN HASTE “FROM DODGE”. 

NET GAIN ON THE TWO EXCHANGES :: 8,145 CONTRACTS OR  814,500 OZ OR 25.73  TONNESCOMMODITY LAW SUGGESTS THAT COMMODITY FUTURES OPEN INTEREST SHOULD APPROXIMATE 3% OF TOTAL PRODUCTION.  IN GOLD THE WORLD PRODUCES AROUND 3500 TONNES PER YEAR BUT ONLY 2200 TONNES ARE AVAILABLE FROM THE WEST (THUS EXCLUDING RUSSIA, CHINA ETC..WHO KEEP 100% OF THEIR PRODUCT.THUS IN GOLD WE HAVE THE FOLLOWING:  503,438 TOTAL OI CONTRACTS X 100 OZ PER CONTRACT = 50.34 MILLION OZ/32,150 OZ PER TONNE =  1565 TONNES

THE COMEX OPEN INTEREST REPRESENTS 1565/2200 OR 71.18% OF ANNUAL GLOBAL PRODUCTION OF GOLD. The front month of MAY registered a total of 50 CONTRACTS for a LOSS of 418 contracts. We had 439 notices filed on WEDNESDAY so we GAINED 21 contracts or an additional  2,100 oz will  stand for delivery in this non active delivery month of May as they refused to morph into London based forwards.   JUNE LOST A STRONG 18,940 CONTRACTS DOWN TO  293,749.  .(AND THIS IS THE FRONT MONTH THAT WE WILL PAY CLOSE ATTENTION TO!)  FOR COMPARISON ON MAY 13/2020:  259,239 OI WITH A DROP OF 11,099 CONTRACTS JULY GAINED 174 CONTRACTS TO STAND AT 506. AUGUST GAINED A STRONG 22,773 CONTRACTS UP TO 151,708

We had 0 notice(s) filed today for  NIL  ozFOR THE MAY 2021 CONTRACT MONTH)Today, 0 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 0  contract(s) of which 0  notices were stopped (received) by j.P. Morgan dealer and 0 notice(s) was (were) stopped/ Received) by J.P.Morgan//customer account and 0 notices received (stopped) by the squid  (Goldman Sachs)

To calculate the INITIAL total number of gold ounces standing for the MAY /2021. contract month, we take the total number of notices filed so far for the month (1394) x 100 oz , to which we add the difference between the open interest for the front month of  (MAY:  50 CONTRACTS ) minus the number of notices served upon today 0 x 100 oz per contract equals 144,400 OZ OR 4.4914 TONNES) the number of ounces standing in this  active month of APRIL

thus the INITIAL standings for gold for the MAY contract month:

No of notices filed so far (1394) x 100 oz+  xx)  OI for the front month minus the number of notices served upon today (0} x 100 oz} which equals 144,400 oz standing OR 4.4914 TONNES in this  active delivery month of MAY.

We GAINED 2100 oz standing for delivery at the comex.  

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NEW PLEDGED GOLD:

464,420.335, oz NOW PLEDGED  march 5/2021/HSBC  13.626 TONNES

268,921.505 PLEDGED  MANFRA 8.36 TONNES

300,622.584, oz  JPM  9.35 TONNES

1,166,051.732 oz pledged June 12/2020 Brinks/36.26 TONNES

86,394.813, oz Pledged August 21/regular account 2.68 tonnes JPMORGAN

6,308.08 oz International Delaware:  .196 tonnes

192.906 oz Malca

total pledged gold:  2,292,811.925 oz                                     71.31 tonnes

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 472.28 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS i.e. 4.4914 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:total registered or dealer  17,471,495.578 oz or 543.43 tonnes  total weight of pledged:  2,292,811.925 oz or 71.31 tonnes thus: registered gold that can be used to settle upon: 15,178,684.0 (472,12 tonnes)     true registered gold  (total registered – pledged tonnes  15,178,684.0 (472.29 tonnes) total eligible gold: 17,050,052.634 oz   (530.32 tonnes)  total registered, pledged  and eligible (customer) gold 34,521,548.212 oz or 1,073.76 tonnes (INCLUDES 4 GC GOLD)  

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  947.42 tonnes

end

Trading Volumes on the COMEX GOLD TODAY:281,971 contracts// volume / fair ////volumes used in raid today   //

CONFIRMED COMEX VOL. FOR YESTERDAY:  424,496 contracts// strong 

//most of our traders have left for London

TODAY’S ESTIMATED SILVER VOLUME 65,836 CONTRACTS // volume  good// 

FOR YESTERDAY 84,225  ,CONFIRMED VOLUME/very  good//

inventory movements

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil oz
Withdrawals from Customer Inventory in oz	25,560.045 OZ Manfra   795 KILOBARS
Deposits to the Dealer Inventory in oz
Deposits to the Customer Inventory, in oz	100.53 OZBRINKS
No of oz served (contracts) today	0  notice(s)nil OZ(0 TONNES
No of oz to be served (notices)	50 contracts(5000oz) 0.1555 TONNES
Total monthly oz gold served (contracts) so far this month	1394 notices139,400 OZ4.3359 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

We had 0 deposit into the dealer   total deposit:  nil oz       

total dealer withdrawals: nil ozwe had 1 deposit into the customer accounti) Into Brinks:  100.53 oz      TOTAL CUSTOMER DEPOSITS: 100.53 oz  oz      We had 1 withdrawal….i) Out of Manfra:  25,560.045 oz (795 kilobars)          total withdrawals: 25,560.045   oz   a net: 0.795 tonnes  leaves the comex       

We had  1  kilobar transactions (1 out of 2 transactions)

ADJUSTMENTS  0//

 XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

NEW PLEDGED GOLD:

464,420.335, oz NOW PLEDGED  march 5/2021/HSBC  13.626 TONNES

268,921.505 PLEDGED  MANFRA 8.36 TONNES

300,622.584, oz  JPM  9.35 TONNES

1,166,051.732 oz pledged June 12/2020 Brinks/36.26 TONNES

86,394.813, oz Pledged August 21/regular account 2.68 tonnes JPMORGAN

6,308.08 oz International Delaware:  .196 tonnes

192.906 oz Malca

total pledged gold:  2,292,811.925 oz                                     71.31 tonnes

SURPRISINGLY WE HAVE BEEN WITNESSING NO REAL PHYSICAL GOLD ENTERING THE COMEX VAULTS FOR THE PAST YEAR!! ..ONLY PHONY KILOBAR ENTRIES…. WE HAVE 472.28 TONNES OF REGISTERED GOLD WHICH CAN SETTLE UPON LONGS i.e. 4.4914 tonnes

CALCULATION OF REGISTERED THAT CAN BE SETTLED UPON:total registered or dealer  17,471,495.578 oz or 543.43 tonnes  total weight of pledged:  2,292,811.925 oz or 71.31 tonnes thus: registered gold that can be used to settle upon: 15,178,684.0 (472,12 tonnes)     true registered gold  (total registered – pledged tonnes  15,178,684.0 (472.29 tonnes) total eligible gold: 17,024,593.119 oz   (529.53 tonnes)  total registered, pledged  and eligible (customer) gold 34,496,088.697 oz or 1,072.97 tonnes (INCLUDES 4 GC GOLD)  

total 4 GC gold:   126.34 tonnes

total gold net of 4 GC:  946.63 tonnes

end

NITIAL STANDING FOR SILVER//MAY

MAY. SILVER COMEX CONTRACT MONTH//INITIAL STANDING

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	1,594,781.570 oz   CNTHSBC Delaware
Deposits to the Dealer Inventory	nil oz oz
Deposits to the Customer Inventory	617,500.007 oz JPMDelaware            whatever enters the comex faultseaves        I wrote this yesterday let’s see if a huge amt leaves on Thursday answer: it did
No of oz served today (contracts)	39 CONTRACT(S)(195,000 OZ)
No of oz to be served (notices)	617 contracts 3,085,000 oz)
Total monthly oz silver served (contracts)	6713 contracts 33,565,000 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

 We had 0 deposit into the dealer  

total dealer deposits:   nil        oz

i) We had 0 dealer withdrawal

total dealer withdrawals: nil oz

we had  2 deposit into customer account (ELIGIBLE ACCOUNT)

i) Into JPM:  592,629.500 oz

ii) Into Delaware: 24,870.507 oz

JPMorgan now has 187.855 million oz of  total silver inventory or 52/24% of all official comex silver. (187.855 million/359.585 million

total customer deposits today617,500.007   oz

we had 3 withdrawals

i) Out of CNT: 395,338.600

ii) Out of Delaware  1019.100 oz

iii) Out of HSBC: 1,198,423.870 oz 

total withdrawals  1,594,781.570   oz

We had 2 adjustments:    dealer to customer

i) Delaware:  5,177.827 oz

ii) Manfra: 48,564.320 oz

CLOSING NUMBERS:

EUR/USA: 1.2081 UP 3 BASIS PTS

BRITISH POUND VS USA: 1.4052 DOWN 10 BASIS PT

USA/JAPANESE YEN: 109.45 DOWN .214 OR YEN UP 22 BASIS [PTS

WEST TEXAS INTERMEDIATE OI: 63.76

BRENT: 66.93

USA DOLLAR INDEX: 90.71 DOWN O

USA DOLLAR VS TURKISH LIRA: 8.51

USA DOLLAR VS RUSSIAN ROUBEL; 74.08 DOWN 61 B ASIS PITS

DOW JONES UP 4323.79 PTS OR 1.29%

NASDAQ UP 107.51 TS OR .83%

GLD: 171.13 PTS OR .70%

SLV: 25.16/ UP .07 PTS OR .28%

MAJOR STORIES TODAY

Ambrose Evans-Pritchard: Markets are losing faith in the Federal Reserve’s credibility

Submitted by admin on Thu, 2021-05-13 13:24 Section: Daily Dispatches

By Ambrose Evans-Pritchard
The Telegraph, London
Thursday, May 13, 2021

The United States is engaged in an astonishing monetary experiment. The Federal Reserve is still conducting quantitative easing even as the rate of headline inflation hit 4.2 percent.

Core inflation has risen to a 25-year high of 3 percent, recording the biggest jump in a single month since 1981. Factory gate inflation has been running at a 7.1 percent annual growth rate over the last six months even before full reopening.

---

The Biden administration is running a budget deficit of 13 percent of GDP this year even though the output gap closed in April and large parts of the economy are overheating. Small firms cannot find workers. Unfilled job openings have reached a record high.

Yet interest rates are zero and the Fed is still buying $120 billion of bonds each month, directly financing part of Washington’s “war economy” debt issuance. It is persisting even though the broad M3 money supply has grown at 24 percent over the last year. It is downplaying all evidence of pent-up inflation as “temporary.” …

… For the remainder of the report:

https://www.telegraph.co.uk/business/2021/05/13/markets-losing-faith-fed…

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END

Alasdair Macleod: The end of the LBMA is nigh

Submitted by admin on Thu, 2021-05-13 11:43 Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, St. Hellier, Jersey, Channel Islands
Thursday, May 13, 2021

Basel 3 is on course to regulate the LBMA out of existence. And with it will go all the associated arbitrage business and position-taking on Comex, because most bullion bank trading desks will cease to exist. The only supply to buy-side speculators of gold and silver contracts will be producer hedging.

In recent months there has been some limited commentary concerning the introduction of Basel 3 regulations and the implications for precious metals trading. These new regulations are scheduled to be introduced for European banks at the end of June — only seven weeks’ time — and in the UK from 1 January next, affecting all LBMA member banks.

This article explains the new regulations and concludes that the recent joint LBMA/WGC consultation paper addressed to the British regulator is unlikely to save London’s unallocated gold trading market. And because Basel 3 regulations are scheduled to be introduced into the UK at the year-end all banks in the London gold market can be expected to wind down their exposure well ahead of the deadline.

The unallocated forward settlement market will effectively be shut down. Hedging into Comex futures from this source will also cease. As it is unwound, the withdrawal of synthetic supply has enormous implications for future precious metals prices by transferring pricing power to physical markets, now dominated by China. …

… For the remainder of the analysis:

https://www.goldmoney.com/research/goldmoney-insights/the-end-of-the-lbm…

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END