More turmoil in Yemen/Irish citizens remove massive amount of euros from bank accounts ie. your old fashion Bank Run)
Good evening Ladies and Gentlemen:
Gold closed today at $1331.50 down $8.10 dollars. Silver also fell by 23 cents to $28.30. The banking cartel felt the need to whack these precious metals again as the world focuses on commodity prices which are rising everywhere on the globe.
First let us head over to the gold comex and see what transpired:
The total gold comex open interest fell by 793 contracts yesterday despite gold's rise. Obviously there was short covering by the bankers. However it looks like those who settled in cash did not buy any April or other gold contract. They may have switched into silver.
The front options open interest in gold saw its open interest fall from 4887 contracts to 2396 for a loss of 3294 contracts. Since the deliveries yesterday were 1699 then we must have lost a few more contracts for cash. The front delivery month of April saw its oi remain relatively constant, falling from 309,239 to today's reading of 307,686.
The estimated volume today on the comex was rather low at 111,308. The confirmed volume yesterday was normal at 162,617.
And now for silver:
The total silver comex open interest rose from 123380 to 125,287 for a gain of 1907 contracts. You would expect this is due to silver's rise yesterday.
The front options delivery month of February saw its open interest surprisingly jump to 118 from 35 as the bankers allowed some exercised options to surface for air and thus tell us that they have been exercised.
The estimated volume on the silver comex today was normal at 41,496. The confirmed volume yesterday was extremely good at 67,231.
CLICK HERE to continue reading Harvey Organ's Daily Gold & Silver Report
Market News, Analysis, and commentary primarily on the precious metals markets, gold, silver, mining.
Showing posts with label Harvey Organ. Show all posts
Showing posts with label Harvey Organ. Show all posts
Wednesday, February 2, 2011
Monday, January 31, 2011
Huge gold standing for delivery; problems in Egypt intensifies
Huge Gold Standing For Delivery; Problems In Egypt Intensifies
Good evening Ladies and Gentlemen:
Gold closed down today to the tune of $6.90 to $1333.80. Silver refused to tag along with the gold raid and ended up a good 24 cents to $28.17.
There is a lot of information that I will provide you to help with your understanding of the gold and silver market.
Let us head over to the gold and silver comex trading for the 31st of January.
The total gold comex open interest fell by a huge 10,026 contracts falling to 488,926 from Friday's close. This is basis Friday night. The front delivery month of February saw its open interest fall from 42,809 contracts to rest at 17,067.
Please remember that the 17,067 open interest on the front delivery month is Friday's actual open interest before delivery notices were sent out later in the evening. The next big delivery month is April and we saw its open interest rise from 296,055 to 310,079 as it absorbed 14,024 contracts due to the switching from February to April. The estimated volume today was a very respectable 186,270. The confirmed volume on Friday with those major switches was an enormous 335,895 contracts.
And now for silver:
the total silver open interest rose by 792 contracts to 124,343 from 123,501 contracts. The front delivery month of March saw its open interest rise from 64,946 to 65,639. There were no switches in silver.
This next stat is very interesting. The front options delivery month of February saw its open interest revealed at 152. February is not a delivery month so all of these open interests were from options exercised. The estimated volume today was rather good at 58,858.
The confirmed volume on Friday was huge at 83,993. The banking cartel tried to blow away the longs and failed.
CLICK HERE to read the complete report
Good evening Ladies and Gentlemen:
Gold closed down today to the tune of $6.90 to $1333.80. Silver refused to tag along with the gold raid and ended up a good 24 cents to $28.17.
There is a lot of information that I will provide you to help with your understanding of the gold and silver market.
Let us head over to the gold and silver comex trading for the 31st of January.
The total gold comex open interest fell by a huge 10,026 contracts falling to 488,926 from Friday's close. This is basis Friday night. The front delivery month of February saw its open interest fall from 42,809 contracts to rest at 17,067.
Please remember that the 17,067 open interest on the front delivery month is Friday's actual open interest before delivery notices were sent out later in the evening. The next big delivery month is April and we saw its open interest rise from 296,055 to 310,079 as it absorbed 14,024 contracts due to the switching from February to April. The estimated volume today was a very respectable 186,270. The confirmed volume on Friday with those major switches was an enormous 335,895 contracts.
And now for silver:
the total silver open interest rose by 792 contracts to 124,343 from 123,501 contracts. The front delivery month of March saw its open interest rise from 64,946 to 65,639. There were no switches in silver.
This next stat is very interesting. The front options delivery month of February saw its open interest revealed at 152. February is not a delivery month so all of these open interests were from options exercised. The estimated volume today was rather good at 58,858.
The confirmed volume on Friday was huge at 83,993. The banking cartel tried to blow away the longs and failed.
CLICK HERE to read the complete report
Saturday, January 29, 2011
Harvey Organ's Daily Gold & Silver Report
Gold and Silver rally/Huge Problems in Egypt/Oil rises
Good morning Ladies and Gentlemen:
Before commencing, I would like to introduce to you, the latest entrants to our famous banking morgue:
We lost 3 banks last night (courtesy of Jim Sinclair)
Bank Closing Information – January 28, 2011
These links contain useful information for the customers and vendors of these closed banks.
FirstTier Bank, Louisville, CO
Evergreen State Bank, Stoughton, WI
The First State Bank, Camargo, OK
http://www.fdic.gov/
end.
Gold closed at comex closing time at $1340.70 up a huge $22.30. In the access market it finished the day a little lower at $1338.50. Silver had a banner day closing up .90 to close at $27.94. Silver and gold were hit in the access market but silve rebounded after being hit hard to close higher at 28.01 up $1.07 for the day.
I would like to go straight to comex trading and see how things of over fared and how those developments will assist you when Monday arrives.
The total gold comex open interest fell by 2226 contracts to 488,926 which is basis Thursday. As Thursday was a huge raid against silver and gold the contraction in open interest was minor. The January options expiry month has now been officially put to bed as it is now off the board. The all important front delivery month of February saw its open interest fall from 99,036 to 42,809 for a loss of 56,227 contracts. These guys switched to the next delivery month of April. This represents 4.28 million oz.
However we must wait to see the final open interest for February and that will occur at 1;30 pm Monday. (remember in OI we are always 1 day back) The estimated volume today was good at 303,300 considering that 56K switched. The confirmed volume on Thursday as promised to you did exceed 400,000 contracts to register a reading of 411,190.
In the silver comex open interest hardly budged down 720 contracts to 124,501. The January options expiry month is now off the board in silver as well. The front month of March saw its open interest fall marginally from 66,113 contracts to 64,946.
It will be exciting to watch this open interest throughout February as we will witness how many will stand in silver for this big delivery month. The volume on the silver comex estimated for yesterday was a very high 73,895. The confirmed volume on the day of the raid on Thursday was 65,602. The bankers did not like what they saw in silver and whacked and whacked but silver pricing remained resolute.
CLICK HERE to read the rest of Harvey Organ's Daily Gold & Silver Report
Good morning Ladies and Gentlemen:
Before commencing, I would like to introduce to you, the latest entrants to our famous banking morgue:
We lost 3 banks last night (courtesy of Jim Sinclair)
Bank Closing Information – January 28, 2011
These links contain useful information for the customers and vendors of these closed banks.
FirstTier Bank, Louisville, CO
Evergreen State Bank, Stoughton, WI
The First State Bank, Camargo, OK
http://www.fdic.gov/
end.
Gold closed at comex closing time at $1340.70 up a huge $22.30. In the access market it finished the day a little lower at $1338.50. Silver had a banner day closing up .90 to close at $27.94. Silver and gold were hit in the access market but silve rebounded after being hit hard to close higher at 28.01 up $1.07 for the day.
I would like to go straight to comex trading and see how things of over fared and how those developments will assist you when Monday arrives.
The total gold comex open interest fell by 2226 contracts to 488,926 which is basis Thursday. As Thursday was a huge raid against silver and gold the contraction in open interest was minor. The January options expiry month has now been officially put to bed as it is now off the board. The all important front delivery month of February saw its open interest fall from 99,036 to 42,809 for a loss of 56,227 contracts. These guys switched to the next delivery month of April. This represents 4.28 million oz.
However we must wait to see the final open interest for February and that will occur at 1;30 pm Monday. (remember in OI we are always 1 day back) The estimated volume today was good at 303,300 considering that 56K switched. The confirmed volume on Thursday as promised to you did exceed 400,000 contracts to register a reading of 411,190.
In the silver comex open interest hardly budged down 720 contracts to 124,501. The January options expiry month is now off the board in silver as well. The front month of March saw its open interest fall marginally from 66,113 contracts to 64,946.
It will be exciting to watch this open interest throughout February as we will witness how many will stand in silver for this big delivery month. The volume on the silver comex estimated for yesterday was a very high 73,895. The confirmed volume on the day of the raid on Thursday was 65,602. The bankers did not like what they saw in silver and whacked and whacked but silver pricing remained resolute.
CLICK HERE to read the rest of Harvey Organ's Daily Gold & Silver Report
Thursday, January 27, 2011
Harvey Organ's Daily Gold & Silver Report - Huge raid on gold and silver/large silver deliveries/entering February gold delivery month
Huge raid on gold and silver/large silver deliveries/entering February gold delivery month:
Good evening Ladies and Gentlemen:
I am now going to emphasize this to everyone: please do not use any leverage in your investments with respect to gold and silver. You can buy silver and gold on these dips but do not leverage your bet as the banker gangsters will separate you from your hard earned dollars. You are going to see a big disconnect between the paper gold and silver and the real physical stuff. The end game is being played out due to the global rush into these precious metals instead of trusting paper.
Gold closed today at comex closing time at $1318.40 for a loss of $14.60. Silver at first resisted then succumbed on the downward pressure from gold losing 9 cents to $27.04 after rising to $27.75 early in the day.
Let us go straight to the comex trading and see the internals.
The total gold comex open interest fell by 14,825 contracts (basis yesterday). We must have had some bank short covering. The front options delivery month of January saw its OI register 13 and with only 9 deliveries today, the 333 OI of yesterday was totally bogus as I figured. The front delivery month of February which is of great interest to all, fell from 146,812 to 99,036 contracts as the February contract went off the board. Options also expired last night. The banking cartel as is their usual modus operandi of late, they raid the day after options expiry right up until first day notice which is on Monday. Notices are sent down Monday for servicing on Tuesday. Expect massive volatility from now until the 31st of January.
The estimated volume today was enormous at 350,090. My bet : the confirmed volume tomorrow may breech 400,000. The confirmed volume yesterday was also very high at 301,311 with quite a few rollovers.
and now for silver:
The total silver OI fell marginally by 1000 contracts falling from 125,229 to 124,221. The front options delivery month of January saw its OI fall from 113 to 101. We had 126 deliveries yesterday so all of the fall was due to the deliveries and many more options were exercised and revealed to us. The front March delivery month saw its OI remain resolute falling a tiny amount from 66,934 to 66,113. The estimated volume today was fair at 54,954. The confirmed volume yesterday was also mediocre at 56,023. There were no switches on the silver.
CLICK HERE to read Harvey Organ's Full Gold & Silver Report
Good evening Ladies and Gentlemen:
I am now going to emphasize this to everyone: please do not use any leverage in your investments with respect to gold and silver. You can buy silver and gold on these dips but do not leverage your bet as the banker gangsters will separate you from your hard earned dollars. You are going to see a big disconnect between the paper gold and silver and the real physical stuff. The end game is being played out due to the global rush into these precious metals instead of trusting paper.
Gold closed today at comex closing time at $1318.40 for a loss of $14.60. Silver at first resisted then succumbed on the downward pressure from gold losing 9 cents to $27.04 after rising to $27.75 early in the day.
Let us go straight to the comex trading and see the internals.
The total gold comex open interest fell by 14,825 contracts (basis yesterday). We must have had some bank short covering. The front options delivery month of January saw its OI register 13 and with only 9 deliveries today, the 333 OI of yesterday was totally bogus as I figured. The front delivery month of February which is of great interest to all, fell from 146,812 to 99,036 contracts as the February contract went off the board. Options also expired last night. The banking cartel as is their usual modus operandi of late, they raid the day after options expiry right up until first day notice which is on Monday. Notices are sent down Monday for servicing on Tuesday. Expect massive volatility from now until the 31st of January.
The estimated volume today was enormous at 350,090. My bet : the confirmed volume tomorrow may breech 400,000. The confirmed volume yesterday was also very high at 301,311 with quite a few rollovers.
and now for silver:
The total silver OI fell marginally by 1000 contracts falling from 125,229 to 124,221. The front options delivery month of January saw its OI fall from 113 to 101. We had 126 deliveries yesterday so all of the fall was due to the deliveries and many more options were exercised and revealed to us. The front March delivery month saw its OI remain resolute falling a tiny amount from 66,934 to 66,113. The estimated volume today was fair at 54,954. The confirmed volume yesterday was also mediocre at 56,023. There were no switches on the silver.
CLICK HERE to read Harvey Organ's Full Gold & Silver Report
Harvey Organ - Gold and silver rise with FOMC announcement/CBO adjusts budget deficit to 1.5 trillion dollars
Gold and silver rise with FOMC announcement/CBO adjusts budget deficit to 1.5 trillion dollars
Good evening Ladies and Gentlemen:
Today at 2:15 pm the Fed made their announcement and basically they announced that the economy was soft and that QEII will continue to add stimulation to the economy. I would like to inform you that the Fed will engage in QEIII and then QE iv ad nauseum . Do not be fooled that the USA is looking at ways to exit their massive infusion of cash. It cannot and will not happen. The government has receipts of 2 trillion dollars and yet spends 4 trillion dollars. The deficit must be financed somehow and it is this money that becomes the QEII, III Iv etc. Please keep this in the back of your mind and never let the boob tube change your thinking on this matter.
Let us see how things fared at the comex:
Gold closed at closing time 1:30 (comex closing time) at $1333.00 up 80 cents on the day. Silver on the other hand add a much better day rising by 32 cents to $27.13. However at 2:15 with the news of continued QEII and the revised CBO budget deficit, gold took off in the access market and right now it is trading at $1342.80. It did hit 1348.00 an hour ago. Silver this minute is trading at $ 27.62.
Here is a summary for the gold comex trading:
The total gold comex OI rose by 7049 contracts to 506,047 from yesterday's recorded open interest of 498,998. I guess the recorded drop in OI yesterday was real. The front options delivery month of January saw the strangest of all events today. It saw a massive increase in its OI from 9 contracts yesterday to 333. Many are saying this is real. It find it totally unbelievable that this quantity of exercised options were finally reported by the CME. The front February delivery month saw its open interest fall from 176,672 to 146,812 as these fellows rolled into the next big delivery month of April. I would like to point out another strange trading factoid: the volume on the February gold contract exceeded the total open interest for February. I guess the regulator boys will overlook this detail in the surveillance. The estimated volume today was normal for the end of a non delivery/entering a delivery month January entering February. The estimated volume was 224,040 contracts. The confirmed volume yesterday was a very high 306044 where we witnessed the huge 81000 drop in open interest.
On now onto our famous silver comex trading;
The total comex silver open interest saw a drop of 2999 contracts from yesterday's level of 128,228 to 125,229. I think this is very bullish for silver. The front options delivery month of January saw its open interest fall marginally from 179 to 113 contracts for a fall of 66 contracts. However yesterday's deliveries were 126 so all the fall was for these deliveries.
CLICK HERE to read the full report
Good evening Ladies and Gentlemen:
Today at 2:15 pm the Fed made their announcement and basically they announced that the economy was soft and that QEII will continue to add stimulation to the economy. I would like to inform you that the Fed will engage in QEIII and then QE iv ad nauseum . Do not be fooled that the USA is looking at ways to exit their massive infusion of cash. It cannot and will not happen. The government has receipts of 2 trillion dollars and yet spends 4 trillion dollars. The deficit must be financed somehow and it is this money that becomes the QEII, III Iv etc. Please keep this in the back of your mind and never let the boob tube change your thinking on this matter.
Let us see how things fared at the comex:
Gold closed at closing time 1:30 (comex closing time) at $1333.00 up 80 cents on the day. Silver on the other hand add a much better day rising by 32 cents to $27.13. However at 2:15 with the news of continued QEII and the revised CBO budget deficit, gold took off in the access market and right now it is trading at $1342.80. It did hit 1348.00 an hour ago. Silver this minute is trading at $ 27.62.
Here is a summary for the gold comex trading:
The total gold comex OI rose by 7049 contracts to 506,047 from yesterday's recorded open interest of 498,998. I guess the recorded drop in OI yesterday was real. The front options delivery month of January saw the strangest of all events today. It saw a massive increase in its OI from 9 contracts yesterday to 333. Many are saying this is real. It find it totally unbelievable that this quantity of exercised options were finally reported by the CME. The front February delivery month saw its open interest fall from 176,672 to 146,812 as these fellows rolled into the next big delivery month of April. I would like to point out another strange trading factoid: the volume on the February gold contract exceeded the total open interest for February. I guess the regulator boys will overlook this detail in the surveillance. The estimated volume today was normal for the end of a non delivery/entering a delivery month January entering February. The estimated volume was 224,040 contracts. The confirmed volume yesterday was a very high 306044 where we witnessed the huge 81000 drop in open interest.
On now onto our famous silver comex trading;
The total comex silver open interest saw a drop of 2999 contracts from yesterday's level of 128,228 to 125,229. I think this is very bullish for silver. The front options delivery month of January saw its open interest fall marginally from 179 to 113 contracts for a fall of 66 contracts. However yesterday's deliveries were 126 so all the fall was for these deliveries.
CLICK HERE to read the full report
Saturday, January 22, 2011
Harvey Organ's The Daily Gold & Silver Report - Silver in Backwardation in London, silver OI refuses to fall/margin levels rise in silver/gold
http://harveyorgan.blogspot.com/2011/01/silver-in-backwardation-in-london.html
Silver in Backwardation in London, silver OI refuses to fall/margin levels rise in silver/gold
Good morning Ladies and Gentlemen:
Before we start our regular commentary, I would like to inform you that 4 banks entered the banking morgue last night:
1. Community South Bank of Easley South Carolina
2.United Western Bank of Denver Colorado
3. Bank of Asherville, Asherville, North Carolina
4.Enterprise Banking Company, McDonough Georgia,
I wrote to the CFTC voicing my concerns over many matters. I am open to your comments You will notice that I sent it to only 4 commissioners. I left out Bart Chilton. From: harveyorgan@rogers.com
To: GGensler@cftc.gov, somalia@cftc.gov, MDunn@cftc.gov, JSommers@cftc.gov
Subject: Position limits and elimination of exemptions. Date: 1/20/2011 9:40:56 P.M.
I am rather disappointed that you have allowed the major banking short interests to continue with their fraudulent and manipulative practices in the precious metals. You have allowed another 60 days of massive shorting by the bankers to allow for yet another public input. The public for the past 2 1/2 years have bombarded you with millions of emails with the hope that you will see the light and put position limits on silver and eliminate the phony exemptions. Mr O'Malia was the lone dissenter on your latest vote voicing his concern that the swap books on JPMorgan once opened would be a shock and that the CFTC would not know how to handle the situation. It has been my contention all along that the major short, is in reality the Chinese government who lent their hoard of silver in support of the suppression of gold. It would be difficult to suppress gold while allowing silver to advance in price. The gold was supplied by central authorities. The USA ran out of silver in 2003 and in order to receive most favoured nation status, the Chinese have done a swap with the USA with a date certain to re-swap. It is quite conceivable that the Chinese have asked for their silver back but were refused as global supplies for silver are vanishing.
Yesterday, the USA Mint announced a record 4.6 million oz of silver eagles sold in the first 3 week period of January which is a record. The USA produces 40 million oz from their mines so for the first time, the USA must import silver from the rest of the world to satisfy the mint's requirements.
The comex is witnessing massive movements of silver into and out of registered vaults signifying turmoil as this silver is putting out fires in other jurisdictions. In gold we are witnessing the opposite. How on earth is gold being settled?
What is even more troubling to me is this:
How could you even discuss position limits and the elimination of exemptions without first telling us what happened in July 2008 which caused you to bring in the enforcement division of the CFTC? Mr Chilton has decided to act unilaterally in proclaiming one trader, JPMorgan, with fraud, and from his statement to the press, major class action law suits have been initiated and filed.
It is frustrating to many of us who witness time and time again massive un-backed paper driving the commodity price of silver and gold down like today. I guess the CFTC's motto that the futures market is a price discovery mechanism is out the window. Mr Dunn has stated that he needs more manpower to try and catch manipulation. Yet when a whistle blower is presented to you and this person describes in detail the accounting of how the crime has been committed in the past and how it will happen in the future and yet you refuse to listen to this gentleman.
Mr Sprott of Sprott Asset Management is having a tough time trying to find any physical silver for his silver fund and yet the bankers massive sell huge amounts of paper silver. The SLV also has liquidated massive amounts of "paper silver". The real stuff is difficult to find in quantity.
Sooner or later, this fraud will end and I guess there is going to be a lot of explaining to do.
I urge you to do the right thing and order JPMorgan and friends to stop this massive fraud and manipulation immediately.
Harvey Organ.
Late Thursday night the CME ordered margin requirements to rise in gold and silver with a sprinkling of other commodities thrown in. The target in this matter was to a lesser extent gold but most assuredly silver.
First the announcement and commentary courtesy of Zero Hedge:
Inflationary Guerilla Tactics Resume As Comex, Nymex Hike Margins On Gold, Silver, Cracks, Spreads And Other Products
Submitted by Tyler Durden on 01/20/2011 20:11 -0500
Wonder why the smart money was rushing headlong out of gold and silver over the past few days, and especially today in the AM session? Here is your answer: in tried and true fashion the Comex just hiked margins in gold, and silver by about 6%, and threw in a few other commodities to mask things up. And unlike the last time it did it, when it could at least pretend to justify its actions with the surge in gold price, this time with the PM complex dropping, we wonder what excuse the CME will use this time. Initial and Maintenance margins were just increased in everything from 10 Tr Oz Gold Futs, Comex 100 Gold Futures, Comex Miny Gold and Silver, E-mini Gold and Silver, Comex 5000 silver futures to Silver trade at settle. Also added were Copper, Iron Ore, propane, butane, and other nat gas. Most notably, and confirming that the administration and the money printing authorities are terrified by the surge in crude, the CME also hiked margins in various refined products and coal. The official scramble to "contain" the aftermath of Bernanke's lunacy is accelerating. We wonder when REDI, Prime Brokers and E-trade will comparable collapse purchasing margin for stock trading accounts. Of course, as with all other such superficial market interventions, the impact is shallow and is overrun in a matter of days.
And no...there was absolutely no leak this time. We promise.
-END-
Please note that the raising of margin requirements came after huge raids and the price of these precious metals had been hit pretty hard. You generally raise margins when prices are reaching their pinnacle not when they have fallen off. The higher margins would have hurt our bankers in the pocket book as the total short position was getting quite high. The object of the exercise was to get a huge downdraft in the price as the bankers were getting quite desperate especially in silver. Wait until you see the open interest and you can judge for yourself..the exercise failed miserably.
Gold closed on Friday, down $5.50 to $1341.00 Silver closed down only 4 cents to $2745 much to the chagrin of our bankers. The attempted downdraft failed due to the heavy purchase of physical metals around the world. Many are starting to see the total disconnect between the paper silver and gold world from the real physical world
Let us see how things fared over at the comex yesterday.
The total gold comex open interest fell marginally by 3229 contracts to 578,484. The open interest has fallen from the very low 600 thousands to 578,000 with a drop of over$ 80.00 in gold price. The bankers needed a much larger cleansing of open interest in the gold complex.
The front options delivery month of January saw its open interest fall from 27 to 14 for a drop of 13 contracts. The deliveries on Thursday was 5 so we somehow lost 8 longs for no apparent reason. The all important front delivery month of February saw its open interest fall marginally from 244,371 to 225,141. First day notice is a week away and I will be watching this closely for you. The estimated volume for Friday was a rather robust 191,067. The confirmed volume on Thursday, the day of the monstrous raid was a huge 301,125. The banking heroes certainly had their fun supplying this massive un-backed paper.
In silver, the total open interest fell ever so slightly from 136,552 to 135,841 for a drop of only 711 contracts. The bankers knew this already by 4 pm Thursday. They called on the CME to raise margin requirements in the hope that they could be bailed out. They failed miserably as the fall in price of silver was tiny. The front options delivery month of January saw its open interest rise from 25 to 65 for a gain of 40 contracts. On Thursday, we saw only 17 deliveries so mysteriously we gained some options that were exercised for physical metal. The front delivery month of March saw its open interest remain resolute at 71,722 dropping only 241 contracts. The estimated volume yesterday was quite small at 68,916. The confirmed volume on Thursday was extremely high at 102,818.
CLICK HERE to keep reading
Silver in Backwardation in London, silver OI refuses to fall/margin levels rise in silver/gold
Good morning Ladies and Gentlemen:
Before we start our regular commentary, I would like to inform you that 4 banks entered the banking morgue last night:
1. Community South Bank of Easley South Carolina
2.United Western Bank of Denver Colorado
3. Bank of Asherville, Asherville, North Carolina
4.Enterprise Banking Company, McDonough Georgia,
I wrote to the CFTC voicing my concerns over many matters. I am open to your comments You will notice that I sent it to only 4 commissioners. I left out Bart Chilton. From: harveyorgan@rogers.com
To: GGensler@cftc.gov, somalia@cftc.gov, MDunn@cftc.gov, JSommers@cftc.gov
Subject: Position limits and elimination of exemptions. Date: 1/20/2011 9:40:56 P.M.
I am rather disappointed that you have allowed the major banking short interests to continue with their fraudulent and manipulative practices in the precious metals. You have allowed another 60 days of massive shorting by the bankers to allow for yet another public input. The public for the past 2 1/2 years have bombarded you with millions of emails with the hope that you will see the light and put position limits on silver and eliminate the phony exemptions. Mr O'Malia was the lone dissenter on your latest vote voicing his concern that the swap books on JPMorgan once opened would be a shock and that the CFTC would not know how to handle the situation. It has been my contention all along that the major short, is in reality the Chinese government who lent their hoard of silver in support of the suppression of gold. It would be difficult to suppress gold while allowing silver to advance in price. The gold was supplied by central authorities. The USA ran out of silver in 2003 and in order to receive most favoured nation status, the Chinese have done a swap with the USA with a date certain to re-swap. It is quite conceivable that the Chinese have asked for their silver back but were refused as global supplies for silver are vanishing.
Yesterday, the USA Mint announced a record 4.6 million oz of silver eagles sold in the first 3 week period of January which is a record. The USA produces 40 million oz from their mines so for the first time, the USA must import silver from the rest of the world to satisfy the mint's requirements.
The comex is witnessing massive movements of silver into and out of registered vaults signifying turmoil as this silver is putting out fires in other jurisdictions. In gold we are witnessing the opposite. How on earth is gold being settled?
What is even more troubling to me is this:
How could you even discuss position limits and the elimination of exemptions without first telling us what happened in July 2008 which caused you to bring in the enforcement division of the CFTC? Mr Chilton has decided to act unilaterally in proclaiming one trader, JPMorgan, with fraud, and from his statement to the press, major class action law suits have been initiated and filed.
It is frustrating to many of us who witness time and time again massive un-backed paper driving the commodity price of silver and gold down like today. I guess the CFTC's motto that the futures market is a price discovery mechanism is out the window. Mr Dunn has stated that he needs more manpower to try and catch manipulation. Yet when a whistle blower is presented to you and this person describes in detail the accounting of how the crime has been committed in the past and how it will happen in the future and yet you refuse to listen to this gentleman.
Mr Sprott of Sprott Asset Management is having a tough time trying to find any physical silver for his silver fund and yet the bankers massive sell huge amounts of paper silver. The SLV also has liquidated massive amounts of "paper silver". The real stuff is difficult to find in quantity.
Sooner or later, this fraud will end and I guess there is going to be a lot of explaining to do.
I urge you to do the right thing and order JPMorgan and friends to stop this massive fraud and manipulation immediately.
Harvey Organ.
Late Thursday night the CME ordered margin requirements to rise in gold and silver with a sprinkling of other commodities thrown in. The target in this matter was to a lesser extent gold but most assuredly silver.
First the announcement and commentary courtesy of Zero Hedge:
Inflationary Guerilla Tactics Resume As Comex, Nymex Hike Margins On Gold, Silver, Cracks, Spreads And Other Products
Submitted by Tyler Durden on 01/20/2011 20:11 -0500
Wonder why the smart money was rushing headlong out of gold and silver over the past few days, and especially today in the AM session? Here is your answer: in tried and true fashion the Comex just hiked margins in gold, and silver by about 6%, and threw in a few other commodities to mask things up. And unlike the last time it did it, when it could at least pretend to justify its actions with the surge in gold price, this time with the PM complex dropping, we wonder what excuse the CME will use this time. Initial and Maintenance margins were just increased in everything from 10 Tr Oz Gold Futs, Comex 100 Gold Futures, Comex Miny Gold and Silver, E-mini Gold and Silver, Comex 5000 silver futures to Silver trade at settle. Also added were Copper, Iron Ore, propane, butane, and other nat gas. Most notably, and confirming that the administration and the money printing authorities are terrified by the surge in crude, the CME also hiked margins in various refined products and coal. The official scramble to "contain" the aftermath of Bernanke's lunacy is accelerating. We wonder when REDI, Prime Brokers and E-trade will comparable collapse purchasing margin for stock trading accounts. Of course, as with all other such superficial market interventions, the impact is shallow and is overrun in a matter of days.
And no...there was absolutely no leak this time. We promise.
-END-
Please note that the raising of margin requirements came after huge raids and the price of these precious metals had been hit pretty hard. You generally raise margins when prices are reaching their pinnacle not when they have fallen off. The higher margins would have hurt our bankers in the pocket book as the total short position was getting quite high. The object of the exercise was to get a huge downdraft in the price as the bankers were getting quite desperate especially in silver. Wait until you see the open interest and you can judge for yourself..the exercise failed miserably.
Gold closed on Friday, down $5.50 to $1341.00 Silver closed down only 4 cents to $2745 much to the chagrin of our bankers. The attempted downdraft failed due to the heavy purchase of physical metals around the world. Many are starting to see the total disconnect between the paper silver and gold world from the real physical world
Let us see how things fared over at the comex yesterday.
The total gold comex open interest fell marginally by 3229 contracts to 578,484. The open interest has fallen from the very low 600 thousands to 578,000 with a drop of over$ 80.00 in gold price. The bankers needed a much larger cleansing of open interest in the gold complex.
The front options delivery month of January saw its open interest fall from 27 to 14 for a drop of 13 contracts. The deliveries on Thursday was 5 so we somehow lost 8 longs for no apparent reason. The all important front delivery month of February saw its open interest fall marginally from 244,371 to 225,141. First day notice is a week away and I will be watching this closely for you. The estimated volume for Friday was a rather robust 191,067. The confirmed volume on Thursday, the day of the monstrous raid was a huge 301,125. The banking heroes certainly had their fun supplying this massive un-backed paper.
In silver, the total open interest fell ever so slightly from 136,552 to 135,841 for a drop of only 711 contracts. The bankers knew this already by 4 pm Thursday. They called on the CME to raise margin requirements in the hope that they could be bailed out. They failed miserably as the fall in price of silver was tiny. The front options delivery month of January saw its open interest rise from 25 to 65 for a gain of 40 contracts. On Thursday, we saw only 17 deliveries so mysteriously we gained some options that were exercised for physical metal. The front delivery month of March saw its open interest remain resolute at 71,722 dropping only 241 contracts. The estimated volume yesterday was quite small at 68,916. The confirmed volume on Thursday was extremely high at 102,818.
CLICK HERE to keep reading
Tuesday, January 18, 2011
Gold and Silver Rise In Price Open Interest Rises - Harvey Organ's Gold & Silver Daily Report
Tuesday, January 18, 2011
gold and silver rise in price open interest rises:
This will be short as my computer has been compromised.
I will just discuss the comex trading for today:
The total gold comex interest rose 2039 contracts to 592,817 from 590,817. The January open interest rose from 50 to 128. The front delivery month of February saw its open interest fall marginally from 277,338 to 269,770. The estimated volume for today was a rather high 188,481. The confirmed volume for friday was 230,606.
The silver comex OI rose by 1048 contracts from 135,881 to 136,929. The front January options expiry month saw its OI rise from 34 to 59. The front delivery month of Maarch was its OI rise from 73,626 to 75,575 which really shook our bankers.
The estimated volume for today was 56,551. The confirmed volume for Friday was 81,402.
There were 113 notices served for gold. The total number of notices served thus far this month total 593.
In silver, the total number of notices served equates to 28 and the total number so far this month total 431.
In gold the total number of gold oz standing in this delivery month is as follows:
59300 oz (already served) + 1500 oz (to be served) = 60,800 oz The number of gold oz standing is rising.
In silver: the total number of silver oz standing:
2,155,000 + 155,000 oz = 2,310,000 oz. Again this number is rising.
as for inventory movements;
In silver. the customer received 599,154 oz. but also withdrew 263,994. The dealer received 381,803 oz. The chaos in the silver comex continues.
In gold: the customer received 67,108 oz and withdrew 129 oz.
Sorry for the trouble. I am now sending my computer to fix.
I am having a great difficulty in accessing my blogsite.
Harvey
gold and silver rise in price open interest rises:
This will be short as my computer has been compromised.
I will just discuss the comex trading for today:
The total gold comex interest rose 2039 contracts to 592,817 from 590,817. The January open interest rose from 50 to 128. The front delivery month of February saw its open interest fall marginally from 277,338 to 269,770. The estimated volume for today was a rather high 188,481. The confirmed volume for friday was 230,606.
The silver comex OI rose by 1048 contracts from 135,881 to 136,929. The front January options expiry month saw its OI rise from 34 to 59. The front delivery month of Maarch was its OI rise from 73,626 to 75,575 which really shook our bankers.
The estimated volume for today was 56,551. The confirmed volume for Friday was 81,402.
There were 113 notices served for gold. The total number of notices served thus far this month total 593.
In silver, the total number of notices served equates to 28 and the total number so far this month total 431.
In gold the total number of gold oz standing in this delivery month is as follows:
59300 oz (already served) + 1500 oz (to be served) = 60,800 oz The number of gold oz standing is rising.
In silver: the total number of silver oz standing:
2,155,000 + 155,000 oz = 2,310,000 oz. Again this number is rising.
as for inventory movements;
In silver. the customer received 599,154 oz. but also withdrew 263,994. The dealer received 381,803 oz. The chaos in the silver comex continues.
In gold: the customer received 67,108 oz and withdrew 129 oz.
Sorry for the trouble. I am now sending my computer to fix.
I am having a great difficulty in accessing my blogsite.
Harvey
Saturday, January 15, 2011
Harvey Organ's Daily Gold & Silver Daily Report - Massive Raid On Silver & Gold.. Shortages Of Silver..CFTC Hearings
Massive Raid on silver and gold..shortages of silver..cftc hearings vote.
MUST READ! Harvey Organ's Daily Gold & Silver Daily Report
MUST READ! Harvey Organ's Daily Gold & Silver Daily Report
Thursday, January 13, 2011
Harvey Organ's Daily Report - Gold raid temporarily rebuffed, silver falls slightly..then huge raid in the access market -
Gold raid temporarily rebuffed, silver falls slightly..then huge raid in the access market.
Good evening Ladies and Gentlemen:
When Dennis Gartman opens his mouth and states that he is selling some of his gold and/or silver positions, you know for sure that a big raid is being orchestrated by our banking crooks.
To do so, on the day of the vote for position limits and removal of exemptions by the CFTC commissioners, has to rank as total "chuztpah" (translation: nerve) by JPMorgan and friends.
Gold at closing time comex rose by $1.20 to 1,386.90. Silver, however lost 28 cents to $29.25. However after the comex closed, our heroes sold massive amounts of paper with basically no counterparty as the access market is generally thin with traders.
Thus it is very easy for our crooks to knock the price down to anything they want. Right this minute at 5:45 pm est, the price of gold is: $1374.00 and silver is below 29 dollars at $28.74. Hold on to your hats as tomorrow will be an extremely violent day pitting massive buyers like the sovereign wealth funds against the sellers, the banks. All of the selling is un-backed gold and silver. Physical metals are very tight. As you can see there is huge disconnect between paper gold and silver and the real stuff.
Let us head over to the comex trading and see what transpired today:
First gold:
The total gold comex open interest rose by 1189 contracts to 589,368 from yesterday's level of 588,179. The bankers get quite worried if the total OI rises above 600,000 contracts. The front options delivery month saw its OI rise from 50 contracts to 87.
The front delivery month of February saw its OI fall ever so slightly from 297,587 to 290,364. This alarmed our bankers to no end. They want to see more contracts roll out of February and into April. The estimated volume today was a whopper: 220,267. Tomorrow this number will be even higher. Yesterday, the confirmed volume was a huge 192,602 almost 30% higher than original estimates. The volume today indicated that the bankers were intent to keep gold below the 1400 dollar level.
And now silver:
The total silver comex open interest rose by 728 contracts from 136,331 to 137,059. The front options delivery month of January saw the OI rise from 54 to 75 contracts. The front delivery month of March saw its OI surprisingly rise from 73,563 to 74,309.
Obviously we are getting no switches in the silver arena. The estimated volume today was a rather large 63,216. The confirmed volume yesterday was a very respectable 49,584. The bankers were very alarmed at the total OI and the March OI.
CLICK HERE to the rest of Harvey Organ's Daily Gold & Silver Report
Good evening Ladies and Gentlemen:
When Dennis Gartman opens his mouth and states that he is selling some of his gold and/or silver positions, you know for sure that a big raid is being orchestrated by our banking crooks.
To do so, on the day of the vote for position limits and removal of exemptions by the CFTC commissioners, has to rank as total "chuztpah" (translation: nerve) by JPMorgan and friends.
Gold at closing time comex rose by $1.20 to 1,386.90. Silver, however lost 28 cents to $29.25. However after the comex closed, our heroes sold massive amounts of paper with basically no counterparty as the access market is generally thin with traders.
Thus it is very easy for our crooks to knock the price down to anything they want. Right this minute at 5:45 pm est, the price of gold is: $1374.00 and silver is below 29 dollars at $28.74. Hold on to your hats as tomorrow will be an extremely violent day pitting massive buyers like the sovereign wealth funds against the sellers, the banks. All of the selling is un-backed gold and silver. Physical metals are very tight. As you can see there is huge disconnect between paper gold and silver and the real stuff.
Let us head over to the comex trading and see what transpired today:
First gold:
The total gold comex open interest rose by 1189 contracts to 589,368 from yesterday's level of 588,179. The bankers get quite worried if the total OI rises above 600,000 contracts. The front options delivery month saw its OI rise from 50 contracts to 87.
The front delivery month of February saw its OI fall ever so slightly from 297,587 to 290,364. This alarmed our bankers to no end. They want to see more contracts roll out of February and into April. The estimated volume today was a whopper: 220,267. Tomorrow this number will be even higher. Yesterday, the confirmed volume was a huge 192,602 almost 30% higher than original estimates. The volume today indicated that the bankers were intent to keep gold below the 1400 dollar level.
And now silver:
The total silver comex open interest rose by 728 contracts from 136,331 to 137,059. The front options delivery month of January saw the OI rise from 54 to 75 contracts. The front delivery month of March saw its OI surprisingly rise from 73,563 to 74,309.
Obviously we are getting no switches in the silver arena. The estimated volume today was a rather large 63,216. The confirmed volume yesterday was a very respectable 49,584. The bankers were very alarmed at the total OI and the March OI.
CLICK HERE to the rest of Harvey Organ's Daily Gold & Silver Report
Harvey Organ's Daily Gold & Silver Report - gold and silver withstand another raid/gold and silver open interest continues to rise
http://harveyorgan.blogspot.com/2038/01/gold-and-silver-withstand-another.html
Good evening Ladies and Gentlemen:
Gold rose today despite repeated attacks by the bankers. It rose by $1.70 to 1385.70. Silver rose by 4 cents to close the comex session at $29.53.
All day today commodity prices were on fire. We saw platinum hit a yearly high of $1,801.00. Copper hit an all time high of $4.46 per pound. Palladium hit an all time high today of$ 809.00 per oz.
I would like to point out that West Texas Intermediate is trading at a six dollar discount to brent crude oil. Brent is a sour oil with more impurities and the light sweet crude of West Texas Intermediate. When you see this huge disparity, generally the entire oil sector rises in price. Brent OIl is trading at around 98.00 per barrel and WTI at 92.00 per barrel. All base metals were higher today joining copper. Even the foodstuffs were higher as soybeans and corn rose big time with a bullish report (less available product)
The only two commodities not to set the world on fire was gold and silver. Today , our buffoon Dennis Gartman indicated that he was now out of his gold holdings denominated in pounds. This gentlemen is a well informed and I guess the bankers told him that there is going to be a serious raid today or tomorrow. Actually, I am quite happy that he is out as this gentleman literally has made zero dollars on his gold and silver holdings for the past 12 years. And he gets invited back on CNBC to tell his version on the action of the precious metals. The bankers tell him that there is going to be a raid as his selling accentuates the raid. That is why he is usually right on the sell side. They never tell him when they are going to buy back their shorts. The bankers do not need Gartman competing with them on the buy side. Gartman generally stays on the sidelines and thus has never participated on the huge rise in gold and silver.
Let us go straight to the comex trading:
First gold:
The total gold comex open interest rose by a very healthy 3190 basis yesterday as gold withstood a huge raid. The front options delivery month of January saw its open interest fall slightly from 54 to 50. Yesterday saw 9 deliveries so most of the loss was due to options holders taking possession of a gold contract. The front delivery month of February saw its open interest fall ever so slightly from 306,173 to 297,587. The bankers would have preferred to see a greater fall in the front month as this is the month that they must be watchful over. The estimated volume on the comex today was a very healthy 176,378 and the confirmed volume yesterday was also extremely good at 189,064.
Now for silver;
The total silver comex open interest rose again by 648 contracts sending our bankers into a tizzy. The front options delivery month of January saw its OI drop from 56 to 54 for a drop of 2 contracts. We had 3 delivery notices yesterday so the bulk of the fall in OI was due to deliveries. The front delivery month of March was its OI surprisingly remain resolute at 73,563 (yesterday 73,330). The estimated volume today on the silver comex was 46,182 whereas the confirmed volume yesterday turned out to be 56,135..quite a robust number.
CLICK HERE to continue reading Harvey's Daily Gold & Silver Report
Good evening Ladies and Gentlemen:
Gold rose today despite repeated attacks by the bankers. It rose by $1.70 to 1385.70. Silver rose by 4 cents to close the comex session at $29.53.
All day today commodity prices were on fire. We saw platinum hit a yearly high of $1,801.00. Copper hit an all time high of $4.46 per pound. Palladium hit an all time high today of$ 809.00 per oz.
I would like to point out that West Texas Intermediate is trading at a six dollar discount to brent crude oil. Brent is a sour oil with more impurities and the light sweet crude of West Texas Intermediate. When you see this huge disparity, generally the entire oil sector rises in price. Brent OIl is trading at around 98.00 per barrel and WTI at 92.00 per barrel. All base metals were higher today joining copper. Even the foodstuffs were higher as soybeans and corn rose big time with a bullish report (less available product)
The only two commodities not to set the world on fire was gold and silver. Today , our buffoon Dennis Gartman indicated that he was now out of his gold holdings denominated in pounds. This gentlemen is a well informed and I guess the bankers told him that there is going to be a serious raid today or tomorrow. Actually, I am quite happy that he is out as this gentleman literally has made zero dollars on his gold and silver holdings for the past 12 years. And he gets invited back on CNBC to tell his version on the action of the precious metals. The bankers tell him that there is going to be a raid as his selling accentuates the raid. That is why he is usually right on the sell side. They never tell him when they are going to buy back their shorts. The bankers do not need Gartman competing with them on the buy side. Gartman generally stays on the sidelines and thus has never participated on the huge rise in gold and silver.
Let us go straight to the comex trading:
First gold:
The total gold comex open interest rose by a very healthy 3190 basis yesterday as gold withstood a huge raid. The front options delivery month of January saw its open interest fall slightly from 54 to 50. Yesterday saw 9 deliveries so most of the loss was due to options holders taking possession of a gold contract. The front delivery month of February saw its open interest fall ever so slightly from 306,173 to 297,587. The bankers would have preferred to see a greater fall in the front month as this is the month that they must be watchful over. The estimated volume on the comex today was a very healthy 176,378 and the confirmed volume yesterday was also extremely good at 189,064.
Now for silver;
The total silver comex open interest rose again by 648 contracts sending our bankers into a tizzy. The front options delivery month of January saw its OI drop from 56 to 54 for a drop of 2 contracts. We had 3 delivery notices yesterday so the bulk of the fall in OI was due to deliveries. The front delivery month of March was its OI surprisingly remain resolute at 73,563 (yesterday 73,330). The estimated volume today on the silver comex was 46,182 whereas the confirmed volume yesterday turned out to be 56,135..quite a robust number.
CLICK HERE to continue reading Harvey's Daily Gold & Silver Report
Tuesday, January 11, 2011
Harvey Organ's Daily Report - Another Failed Raid In Silver & Gold
http://harveyorgan.blogspot.com/2011/01/another-failed-raid-in-silver-and-gold.html
Good evening Ladies and Gentlemen:
Gold closed up by $14.30 to close at 1:30 PM (comex closing) at $1384.00 Silver closed at $29.49 up a huge 64 cents. Today, the banking cartel has shifted a little from their normal strategy in that they start to bombard gold and silver one hour into comex trading.
Gold and silver were on fire during the evening (Japan and Middle east time zones) and the price continued on its northern trajectory even into the London time zone. It only met resistance once comex was well into its session. The raid on both silver and gold with high estimated volumes for the gold comex coming in close to 180,000 contracts. The confirmed volume will be much higher. The silver comex volume was also quite high at 53,673.
Let us go straight to the comex floor and see how things fared today:
The total gold comex open interest rose by 3,790 contracts to 584,989 which is basis Monday. The front option delivery month of January saw its open interest rise from 22 to 54 which is a mystery in itself. The most important front delivery month of February saw it's open interest decline marginally from 318,383 to 306,173 with all of the decline rolling to April. As mentioned, the estimated volume today was rather high at 179,528. The confirmed volume yesterday was also high at 158,055.
And now for silver:
The total silver comex OI fell marginally from 137,079 to 135,683 for a loss of 1396 contracts. With silver rising at the end of the day, we probably witnessed a little of the banks covering some of their shorts. The banks may be getting a little antsy on seeing the "open letter" addressed to Bylthe Masters, commander of commodities at JPMorgan. Will hedge funds begin to load up on silver contracts commencing the first of February, ready to take delivery and settling for 30% premium for cash settlement?
The front option delivery month of January saw its open interest fall from 88 to 56 for a loss of 32 contracts. The delivery notices yesterday was 32 so the entire drop in the front month was due to the delivery notices.
The estimated volume at the silver comex today as mentioned was 53,673 and the confirmed volume yesterday was 49,329. The front delivery of March saw its open interest fall a bit from 75,298 to 73,330 contracts.
CLICK HERE to continue reading Harvey's Daily Gold & Silver Report
Good evening Ladies and Gentlemen:
Gold closed up by $14.30 to close at 1:30 PM (comex closing) at $1384.00 Silver closed at $29.49 up a huge 64 cents. Today, the banking cartel has shifted a little from their normal strategy in that they start to bombard gold and silver one hour into comex trading.
Gold and silver were on fire during the evening (Japan and Middle east time zones) and the price continued on its northern trajectory even into the London time zone. It only met resistance once comex was well into its session. The raid on both silver and gold with high estimated volumes for the gold comex coming in close to 180,000 contracts. The confirmed volume will be much higher. The silver comex volume was also quite high at 53,673.
Let us go straight to the comex floor and see how things fared today:
The total gold comex open interest rose by 3,790 contracts to 584,989 which is basis Monday. The front option delivery month of January saw its open interest rise from 22 to 54 which is a mystery in itself. The most important front delivery month of February saw it's open interest decline marginally from 318,383 to 306,173 with all of the decline rolling to April. As mentioned, the estimated volume today was rather high at 179,528. The confirmed volume yesterday was also high at 158,055.
And now for silver:
The total silver comex OI fell marginally from 137,079 to 135,683 for a loss of 1396 contracts. With silver rising at the end of the day, we probably witnessed a little of the banks covering some of their shorts. The banks may be getting a little antsy on seeing the "open letter" addressed to Bylthe Masters, commander of commodities at JPMorgan. Will hedge funds begin to load up on silver contracts commencing the first of February, ready to take delivery and settling for 30% premium for cash settlement?
The front option delivery month of January saw its open interest fall from 88 to 56 for a loss of 32 contracts. The delivery notices yesterday was 32 so the entire drop in the front month was due to the delivery notices.
The estimated volume at the silver comex today as mentioned was 53,673 and the confirmed volume yesterday was 49,329. The front delivery of March saw its open interest fall a bit from 75,298 to 73,330 contracts.
CLICK HERE to continue reading Harvey's Daily Gold & Silver Report
Harvey Organ's Daily Report - Judge orders documents on the Fed filed with her...big victory...open interest in silver remains strong:
http://harveyorgan.blogspot.com/2011/01/judge-orders-documents-on-fed-filed.html
Judge orders documents on the Fed filed with her...big victory...open interest in silver remains strong:
Good evening Ladies and Gentlemen:
Today was quite a day. Gold closed up by $5.10 to close the comex session at $1373.70. Silver finished the day up 19 cents to $28.95. In the access market right now at 5 o'clock est the gold price is trading at 1376.20 and silver is now $29.11
Gold and silver should have a stellar day tomorrow as the banking cartel are a little weary with all of those finger pushing exercises in shorting the precious metals.
Let us go straight to the comex trading and see how things shape up for tomorrow:
First gold;
The total gold comex open interest fell by a very tiny 2,721 contracts with the reading of today at 581,199. Friday was the 4th day in a row for whacking and it seems it had no effect on the resolute longs. The banking cartel are miffed.
The front options delivery month of January saw its OI fall from 28 to 22 for a loss of 6 contracts. We had 5 notices which therefore took all of the fall in open interest. The more important front delivery month of February saw its open interest fall from 329,289 to 318,383. The bankers were hoping that more would roll out of the front February month. The estimated volume today was a very modest 164,801. The confirmed volume on Friday with the massive raid was a huge 263,192 contracts with minor rolls into April.
And now silver:
The total silver comex open interest fell by a tiny 2212 contracts (from 139,291 to 137,079.) This is basis Friday night. The bankers when they saw very little silver leaves fall from the silver comex tree, they decided to raid again today but that turned out to be unfruitful for them. The front options delivery month of January saw its open interest (OI) fall from 153 to 88 for a loss of 65 contracts. The delivery notices on Friday totalled 85 so all of the loss of OI was due to the delivery notices.
The front delivery month of March saw its OI fall by 2449 contracts (75,298 from 77,747). I will talk about the month of March in the body of my commentary. The estimated volume today was a healthy 46,936. The confirmed volume for Friday was a huge 92,766 with minor switches. This annoyed our bankers greatly.
CLICK HERE to continue reading Harvey's Daily Gold & Silver Report
Judge orders documents on the Fed filed with her...big victory...open interest in silver remains strong:
Good evening Ladies and Gentlemen:
Today was quite a day. Gold closed up by $5.10 to close the comex session at $1373.70. Silver finished the day up 19 cents to $28.95. In the access market right now at 5 o'clock est the gold price is trading at 1376.20 and silver is now $29.11
Gold and silver should have a stellar day tomorrow as the banking cartel are a little weary with all of those finger pushing exercises in shorting the precious metals.
Let us go straight to the comex trading and see how things shape up for tomorrow:
First gold;
The total gold comex open interest fell by a very tiny 2,721 contracts with the reading of today at 581,199. Friday was the 4th day in a row for whacking and it seems it had no effect on the resolute longs. The banking cartel are miffed.
The front options delivery month of January saw its OI fall from 28 to 22 for a loss of 6 contracts. We had 5 notices which therefore took all of the fall in open interest. The more important front delivery month of February saw its open interest fall from 329,289 to 318,383. The bankers were hoping that more would roll out of the front February month. The estimated volume today was a very modest 164,801. The confirmed volume on Friday with the massive raid was a huge 263,192 contracts with minor rolls into April.
And now silver:
The total silver comex open interest fell by a tiny 2212 contracts (from 139,291 to 137,079.) This is basis Friday night. The bankers when they saw very little silver leaves fall from the silver comex tree, they decided to raid again today but that turned out to be unfruitful for them. The front options delivery month of January saw its open interest (OI) fall from 153 to 88 for a loss of 65 contracts. The delivery notices on Friday totalled 85 so all of the loss of OI was due to the delivery notices.
The front delivery month of March saw its OI fall by 2449 contracts (75,298 from 77,747). I will talk about the month of March in the body of my commentary. The estimated volume today was a healthy 46,936. The confirmed volume for Friday was a huge 92,766 with minor switches. This annoyed our bankers greatly.
CLICK HERE to continue reading Harvey's Daily Gold & Silver Report
Monday, January 10, 2011
Harvey Organ's Daily Gold & Silver Report - Massive Drainage of silver at the comex/another failed raid/jobs report less than expected
http://harveyorgan.blogspot.com/2011/01/massive-drainage-of-silver-at.html
Dear Ladies and Gentlemen:
Good morning. Before commencing our regular commentary Sheila Bair announced last night that there were two new entrants into the banking morgue:
1. .First Community Bank of Florida headquartered in Orlando Florida.
2. Legacy Bank, Headquarted in Scottsdale Arizona.
may they rest in "pieces".
Gold closed Friday night at $1368.50 down $2.90 on the day (comex closing time 1:30 pm). In the access market it basically regained the loss and closed at $1369.80. Silver fell by 37 cents to $28.74. In the access market in dropped a few pennies to $28.69.
Yesterday saw the release of the jobs report and as always, the bankers whack gold and silver in an attempt to show the world that the economy is improving. The actual number disappointed the street even with the massive seasonal adjustments and the famous plug addition of the B/D number. (B/D means birth/death...for every death of a job there is a new job born). I will go over the number with you after I report on the comex trading.
The total gold comex open interest surprised investors greatly once they were released at 1:30 yesterday afternoon. The total open interest in gold rose by 640 contracts to 583,920 (basis Thursday). The raid was huge and thus no gold leaves fell from the comex tree much to the chagrin of the bankers. The front options delivery month of January saw the open interest decline from 71 contracts to 28 for a drop of 43 contracts. All of the drop was due to Thursday delivery notice of 60 contracts. The next key number is the front delivery month of February. The month of February is a big delivery month and is generally third as to the mostly played months in the gold calendar following December and June. The February open interest declined by a very tiny margin:5939 contracts (335,228 to 329,289). You will see a slow decline in this month until the first day notice. The estimated volume on the gold comex yesterday was a monstrous 252,190 as the bankers threw massive un- backed paper trying to quell gold's demand. Judging from the eventual rise in price of the gold ( as the shorts tried to cover) and the open interest announcement at 1;30, the raid was a massive failure. The confirmed volume on Thursday was also a massive 208,593. Wait until you see what happened in silver.....
The total silver comex open interest rose again for the 3rd consecutive day by 731 contracts to 139,291. (Thursday's reading was 138560 which is basis Wednesday). The reading at 1:30 Friday is basis Thursday night. Can you imagine the shock on all the bankers faces when they discovered Thursday night that their relentless supply of un backed paper has no effect on our longs. On a net summation, instead of losing some silver leaves we gained some as many have caught on to the bankers scheme. The bankers , by their raiding tactics provided silver at lower prices and many were waiting in the wings to take on cheaper silver metal. The front options delivery month of January saw its OI mysteriously climb from 95 to 153 for a gain of 58 contracts. In another surprising statistic, the front delivery month of March saw its OI rise by 267 contracts to 77,747 from 77,480. The front delivery month boys were not scared off. The estimated volume Friday was a very large 89009. The confirmed volume for Thursday turned out to be a healthy 68,429.
CLICK HERE to continue reading Harvey's report
Dear Ladies and Gentlemen:
Good morning. Before commencing our regular commentary Sheila Bair announced last night that there were two new entrants into the banking morgue:
1. .First Community Bank of Florida headquartered in Orlando Florida.
2. Legacy Bank, Headquarted in Scottsdale Arizona.
may they rest in "pieces".
Gold closed Friday night at $1368.50 down $2.90 on the day (comex closing time 1:30 pm). In the access market it basically regained the loss and closed at $1369.80. Silver fell by 37 cents to $28.74. In the access market in dropped a few pennies to $28.69.
Yesterday saw the release of the jobs report and as always, the bankers whack gold and silver in an attempt to show the world that the economy is improving. The actual number disappointed the street even with the massive seasonal adjustments and the famous plug addition of the B/D number. (B/D means birth/death...for every death of a job there is a new job born). I will go over the number with you after I report on the comex trading.
The total gold comex open interest surprised investors greatly once they were released at 1:30 yesterday afternoon. The total open interest in gold rose by 640 contracts to 583,920 (basis Thursday). The raid was huge and thus no gold leaves fell from the comex tree much to the chagrin of the bankers. The front options delivery month of January saw the open interest decline from 71 contracts to 28 for a drop of 43 contracts. All of the drop was due to Thursday delivery notice of 60 contracts. The next key number is the front delivery month of February. The month of February is a big delivery month and is generally third as to the mostly played months in the gold calendar following December and June. The February open interest declined by a very tiny margin:5939 contracts (335,228 to 329,289). You will see a slow decline in this month until the first day notice. The estimated volume on the gold comex yesterday was a monstrous 252,190 as the bankers threw massive un- backed paper trying to quell gold's demand. Judging from the eventual rise in price of the gold ( as the shorts tried to cover) and the open interest announcement at 1;30, the raid was a massive failure. The confirmed volume on Thursday was also a massive 208,593. Wait until you see what happened in silver.....
The total silver comex open interest rose again for the 3rd consecutive day by 731 contracts to 139,291. (Thursday's reading was 138560 which is basis Wednesday). The reading at 1:30 Friday is basis Thursday night. Can you imagine the shock on all the bankers faces when they discovered Thursday night that their relentless supply of un backed paper has no effect on our longs. On a net summation, instead of losing some silver leaves we gained some as many have caught on to the bankers scheme. The bankers , by their raiding tactics provided silver at lower prices and many were waiting in the wings to take on cheaper silver metal. The front options delivery month of January saw its OI mysteriously climb from 95 to 153 for a gain of 58 contracts. In another surprising statistic, the front delivery month of March saw its OI rise by 267 contracts to 77,747 from 77,480. The front delivery month boys were not scared off. The estimated volume Friday was a very large 89009. The confirmed volume for Thursday turned out to be a healthy 68,429.
CLICK HERE to continue reading Harvey's report
Thursday, January 6, 2011
Harvey Organ's Daily Gold & Silver Report - Massive Raid failed again...silver is the attempted "mark"
http://harveyorgan.blogspot.com/2011/01/massive-raid-failed-againsilver-is.html
Massive Raid failed again...silver is the attempted "mark"
Good evening Ladies and Gentlemen:
The banking heroes orchestrated another of their raids today with their ultimate goal was to force many of silver longs to pitch their positions. As you will see in the body of my commentary they failed miserably today. Tomorrow is also the jobs report and as is customary, gold and silver are raided like clockwork. The fraudulent banksters wish to promote fiat currency instead of real money like gold and silver.
Gold closed today down by only $2.00 to close at $1371.40 (comex closing time 1:30 pm est). Silver, the object of this massive manipulation lowered by 6 cents to $29.11.
I would like to point out that when a raid has been signalled during their midnight meetings, the bankers never retreat and thus they continue to bombard at every rally. Gold and silver rose to par on 3 occasions today and each time huge number of un-backed paper was supplied by the bankers and down went these precious metals only to rebound once the close of comex was upon them.
Let us see what transpired at the comex.
First the gold comex:
The total gold comex saw the total open position fall by a hefty 9413 contracts as some very weak longs were routed as they pitched their contracts only to be gobbled up by the bankers covered his shorts. Thu, we witness the open interest contraction which is what generally happens in a raid. The open interest for tonight which is basis last night was 583,200 contracts. Yesterday's level was 592,613. Here is a corker: the January open interest rose from 58 contracts to 71 contracts despite a fair size delivery yesterday of 45 contracts.
If all options must be exercised by January 1 2011, how on earth is the OI rising? The estimated volume today was a very healthy 199,914 contracts and I will bet that when confirmed tomorrow , the volume will rise high into the 200 thousands.
As promised, the confirmed volume yesterday was a massive 234,633. The front delivery month of February saw its open interest fall from 350,399 to 335,228. At least the bankers were smiling a bit with this figure!
Now for our silver (and the object of the "Morgues"' (JPMorgan) advances:
The total comex silver OI to the amazement of everybody who follows this stuff, rose by another 1629 contracts having withstood two consecutive days of massive raids. The new open interest tonight rests at 138,560 (basis last night) from the prior reading of 136,931.
This was the reason for another midnight oil meeting. The decision: tell Bylthe Masters to muster up the gang as they need another raid. Get a load of this next reading: the front January options delivery month saw its open interest rise from 59 to 95. There were only 2 deliveries yesterday so, this is difficult to explain as all options have to be exercised by the first of January. The front delivery month of March saw its open interest basically remain constant at 77,480 contracts. The estimated volume today was good at 65,676. The confirmed volume yesterday was a monstrous 87,462 contracts. To give you an idea as to quantity of oz, 87,462 contracts equals 437.3 milllion oz. The world (without China) produces around 600 million oz or roughly 72.8% of worldly production. China has decided not to export any of their silver. If you include China's 89 million oz then the total world production is around 690 million and thus today's volume equates to 63.3% of worldly production.
CLICK HERE to keep reading the post
Massive Raid failed again...silver is the attempted "mark"
Good evening Ladies and Gentlemen:
The banking heroes orchestrated another of their raids today with their ultimate goal was to force many of silver longs to pitch their positions. As you will see in the body of my commentary they failed miserably today. Tomorrow is also the jobs report and as is customary, gold and silver are raided like clockwork. The fraudulent banksters wish to promote fiat currency instead of real money like gold and silver.
Gold closed today down by only $2.00 to close at $1371.40 (comex closing time 1:30 pm est). Silver, the object of this massive manipulation lowered by 6 cents to $29.11.
I would like to point out that when a raid has been signalled during their midnight meetings, the bankers never retreat and thus they continue to bombard at every rally. Gold and silver rose to par on 3 occasions today and each time huge number of un-backed paper was supplied by the bankers and down went these precious metals only to rebound once the close of comex was upon them.
Let us see what transpired at the comex.
First the gold comex:
The total gold comex saw the total open position fall by a hefty 9413 contracts as some very weak longs were routed as they pitched their contracts only to be gobbled up by the bankers covered his shorts. Thu, we witness the open interest contraction which is what generally happens in a raid. The open interest for tonight which is basis last night was 583,200 contracts. Yesterday's level was 592,613. Here is a corker: the January open interest rose from 58 contracts to 71 contracts despite a fair size delivery yesterday of 45 contracts.
If all options must be exercised by January 1 2011, how on earth is the OI rising? The estimated volume today was a very healthy 199,914 contracts and I will bet that when confirmed tomorrow , the volume will rise high into the 200 thousands.
As promised, the confirmed volume yesterday was a massive 234,633. The front delivery month of February saw its open interest fall from 350,399 to 335,228. At least the bankers were smiling a bit with this figure!
Now for our silver (and the object of the "Morgues"' (JPMorgan) advances:
The total comex silver OI to the amazement of everybody who follows this stuff, rose by another 1629 contracts having withstood two consecutive days of massive raids. The new open interest tonight rests at 138,560 (basis last night) from the prior reading of 136,931.
This was the reason for another midnight oil meeting. The decision: tell Bylthe Masters to muster up the gang as they need another raid. Get a load of this next reading: the front January options delivery month saw its open interest rise from 59 to 95. There were only 2 deliveries yesterday so, this is difficult to explain as all options have to be exercised by the first of January. The front delivery month of March saw its open interest basically remain constant at 77,480 contracts. The estimated volume today was good at 65,676. The confirmed volume yesterday was a monstrous 87,462 contracts. To give you an idea as to quantity of oz, 87,462 contracts equals 437.3 milllion oz. The world (without China) produces around 600 million oz or roughly 72.8% of worldly production. China has decided not to export any of their silver. If you include China's 89 million oz then the total world production is around 690 million and thus today's volume equates to 63.3% of worldly production.
CLICK HERE to keep reading the post
Wednesday, January 5, 2011
Harvey Organ's Daily Gold & Silver Report - Open Interest Rises Despite Shellacking of the Precious Metals
http://harveyorgan.blogspot.com/2011/01/open-interest-rises-despite-shellacking.html
Dear Ladies and Gentlemen:
Today we had another attempted raid and it basically failed. You will see the reasons for the raid on two consecutive days when you see the open interests.
Gold closed down by $5.10 to $1373.50 even though it was down much further hitting its low at 11 pm at 1365.00 From that point it staged a nice recovery closing at the $1373.50 mark. In the access market right now it is trading at $1378.00
Silver was the "mark" for our banking cartel as they needed to quell its jets. Silver finished the day down by 32 cents to close at $29.17. Right now in the access market silver is trading at $29.32. The open interests on both gold and silver and very troublesome for our bankers as they desperately try and shake the leaves from their tree. It is like a monkey hanging onto their necks. You will see what I mean when I disclose the comex trading for you now.
First gold:
The total gold comex open interest rose by 6,185 contracts, This was done with gold falling by $44.00? The new open interest on the gold comex rests tonight which is basis yesterday night at 592,813. When the bankers saw this number last night (they get it one day earlier than us) they called an emergency session for another of their famous midnight oil meetings. The decided that the OI should have contracted and not risen which means all they accomplished yesterday was to lower the price and get more people into the metal.
They decided to attack again and that is why the raid today. The front options delivery month of January saw its OI rise from 38 to 58. This is rather surprising as the corrected gold deliveries for yesterday was only 2. If all options are exercised at the first of the month how could we get an increase in OI in January from 38 to 58? The front delivery month of February saw the OI rise by a huge 3539 contracts to 350,399. That also scared our banking heroes. The estimated volume today was a huge 219,110 and the confirmed volume yesterday was an astounding 241,778 with no switches. Gee!! you have got to love our banking heroes. They supply endless supplies of un backed paper trying to melt the price and they failed miserably.
Now for silver:
The total open interest on silver remained resolute at 136,931 up a huge 645 contracts with a huge pummelling of silver by almost $1.60 yesterday. I think the bankers were more frightened with this figure than with gold. I may be mistaken but the bankers have been trying for the past month to shake the silver leaves from the comex tree and they have failed time after time. The front options delivery month of January saw its OI mysteriously rise from 55 to 59. I do not make this up!!. The estimated volume on the comex today was a monstrous 83,889. The confirmed volume for yesterday was 88,172. This is a far cry from the 16,000 contracts traded during the last week of 2010.
CLICK HERE to read the rest of Harvey's Report
Dear Ladies and Gentlemen:
Today we had another attempted raid and it basically failed. You will see the reasons for the raid on two consecutive days when you see the open interests.
Gold closed down by $5.10 to $1373.50 even though it was down much further hitting its low at 11 pm at 1365.00 From that point it staged a nice recovery closing at the $1373.50 mark. In the access market right now it is trading at $1378.00
Silver was the "mark" for our banking cartel as they needed to quell its jets. Silver finished the day down by 32 cents to close at $29.17. Right now in the access market silver is trading at $29.32. The open interests on both gold and silver and very troublesome for our bankers as they desperately try and shake the leaves from their tree. It is like a monkey hanging onto their necks. You will see what I mean when I disclose the comex trading for you now.
First gold:
The total gold comex open interest rose by 6,185 contracts, This was done with gold falling by $44.00? The new open interest on the gold comex rests tonight which is basis yesterday night at 592,813. When the bankers saw this number last night (they get it one day earlier than us) they called an emergency session for another of their famous midnight oil meetings. The decided that the OI should have contracted and not risen which means all they accomplished yesterday was to lower the price and get more people into the metal.
They decided to attack again and that is why the raid today. The front options delivery month of January saw its OI rise from 38 to 58. This is rather surprising as the corrected gold deliveries for yesterday was only 2. If all options are exercised at the first of the month how could we get an increase in OI in January from 38 to 58? The front delivery month of February saw the OI rise by a huge 3539 contracts to 350,399. That also scared our banking heroes. The estimated volume today was a huge 219,110 and the confirmed volume yesterday was an astounding 241,778 with no switches. Gee!! you have got to love our banking heroes. They supply endless supplies of un backed paper trying to melt the price and they failed miserably.
Now for silver:
The total open interest on silver remained resolute at 136,931 up a huge 645 contracts with a huge pummelling of silver by almost $1.60 yesterday. I think the bankers were more frightened with this figure than with gold. I may be mistaken but the bankers have been trying for the past month to shake the silver leaves from the comex tree and they have failed time after time. The front options delivery month of January saw its OI mysteriously rise from 55 to 59. I do not make this up!!. The estimated volume on the comex today was a monstrous 83,889. The confirmed volume for yesterday was 88,172. This is a far cry from the 16,000 contracts traded during the last week of 2010.
CLICK HERE to read the rest of Harvey's Report
Tuesday, January 4, 2011
Huge raid by the cartel..gold and silver fall on massive volume - Harvey Organ's Daily Gold & Silver Report
http://harveyorgan.blogspot.com/2011/01/huge-raid-by-cartelgold-and-silver-fall.html
Huge raid by the cartel..gold and silver fall on massive volume
Good evening Ladies and Gentlemen:
Usually the first week of January one has to expect volatility in the gold and silver comex and the cartel did not disappoint us with their usual shenanigans. Gold finished the comex session at $1380.00 down$ 42.60 from Monday's close. Silver saw a further percentage decline falling by $1.59 to$ 29.50 at the comex close. For the past week, we have seen an equilibrium between buyers and sellers in gold at around 75,000 contracts. Today the estimated volume at the gold comex was 240,871 and when the confirmed volume comes in I can assure you it will be much higher. The modus operandi of the crooked bankers is simple. They withhold all bids to buy as they tell would be purchasers to hold off as they will get their metal cheaper. Then they bombard with over 100,000 contracts that are totally un-backed and they trip some of the longs who have stop losses below the spot price. This trips other stop losses as the price goes lower until it reaches its nadir and the bankers slowly try to cover all their shorts. This is collusion, as all the bankers are told in advance when the raid is to be expected. Then they supply paper with no backing to gold or silver whatsoever. And our regulators just stand there and do absolutely nothing with this blatant manipulation.
As I tell many of you, when a raid comes, do the following:
1. turn off the TV as the pundits will offer stupid explanations for the event which is nothing but garbage.
2. take an aspirin
3. get a good times sleep as tomorrow is another day and the banking cartel need to cover the huge shortfall that they have created.
Let us go to today's comex trading:
First gold:
The total gold comex open interest rose by 1514 contracts to 586,628 from 585,114. The bankers were certainly not nervous about the gold open interest.
The front options delivery month of January saw the open interest fall from 46 to 38. But get a load of this...there were no deliveries. .
The front delivery month of February saw its open interest rise from 345,930 to 346,860. The banking cartel did not like that. They want to see the gold open interest for the front month decline. This may be one of the reasons for the decision to raid. The estimated volume today as I explained above was a very robust 240,871 with no switches yet. The confirmed volume yesterday was 86,306.
And now for silver:
The total silver comex open interest rose by 316 contracts to 136,286 from 135,970. The bankers are not happy campers seeing such a high total silver open interest and this is probably the primary reason for the raid. They are continually trying to shake the silver leaves from the comex tree. The front delivery of March which is still almost 2 months away from first day notice was its open interest rise by 400 contracts to 78,658. The estimated volume today was a very robust 86,787 whereas yesterday the confirmed volume was 44,305.
So you see, if you want to raid all you need to do is supply massive amounts of paper and the price falls. The problem is the regulators do not ask if the selling paper has an metal backing these sales.
As for deliveries, gold saw zero deliveries and silver saw zero deliveries.
I would like to go to inventory changes and then calculate the number of oz of gold and silver that are standing:
CLICK HERE to read the whole post
Huge raid by the cartel..gold and silver fall on massive volume
Good evening Ladies and Gentlemen:
Usually the first week of January one has to expect volatility in the gold and silver comex and the cartel did not disappoint us with their usual shenanigans. Gold finished the comex session at $1380.00 down$ 42.60 from Monday's close. Silver saw a further percentage decline falling by $1.59 to$ 29.50 at the comex close. For the past week, we have seen an equilibrium between buyers and sellers in gold at around 75,000 contracts. Today the estimated volume at the gold comex was 240,871 and when the confirmed volume comes in I can assure you it will be much higher. The modus operandi of the crooked bankers is simple. They withhold all bids to buy as they tell would be purchasers to hold off as they will get their metal cheaper. Then they bombard with over 100,000 contracts that are totally un-backed and they trip some of the longs who have stop losses below the spot price. This trips other stop losses as the price goes lower until it reaches its nadir and the bankers slowly try to cover all their shorts. This is collusion, as all the bankers are told in advance when the raid is to be expected. Then they supply paper with no backing to gold or silver whatsoever. And our regulators just stand there and do absolutely nothing with this blatant manipulation.
As I tell many of you, when a raid comes, do the following:
1. turn off the TV as the pundits will offer stupid explanations for the event which is nothing but garbage.
2. take an aspirin
3. get a good times sleep as tomorrow is another day and the banking cartel need to cover the huge shortfall that they have created.
Let us go to today's comex trading:
First gold:
The total gold comex open interest rose by 1514 contracts to 586,628 from 585,114. The bankers were certainly not nervous about the gold open interest.
The front options delivery month of January saw the open interest fall from 46 to 38. But get a load of this...there were no deliveries. .
The front delivery month of February saw its open interest rise from 345,930 to 346,860. The banking cartel did not like that. They want to see the gold open interest for the front month decline. This may be one of the reasons for the decision to raid. The estimated volume today as I explained above was a very robust 240,871 with no switches yet. The confirmed volume yesterday was 86,306.
And now for silver:
The total silver comex open interest rose by 316 contracts to 136,286 from 135,970. The bankers are not happy campers seeing such a high total silver open interest and this is probably the primary reason for the raid. They are continually trying to shake the silver leaves from the comex tree. The front delivery of March which is still almost 2 months away from first day notice was its open interest rise by 400 contracts to 78,658. The estimated volume today was a very robust 86,787 whereas yesterday the confirmed volume was 44,305.
So you see, if you want to raid all you need to do is supply massive amounts of paper and the price falls. The problem is the regulators do not ask if the selling paper has an metal backing these sales.
As for deliveries, gold saw zero deliveries and silver saw zero deliveries.
I would like to go to inventory changes and then calculate the number of oz of gold and silver that are standing:
CLICK HERE to read the whole post
Monday, January 3, 2011
Harvey Organ's Daily Gold & Silver Report - Gold and silver withstand another attack/silver rises above 31.00 dollars.
http://harveyorgan.blogspot.com/2011/01/gold-and-silver-withstand-another.html
Here is a brief segment from the report:
The comex notified us that 9 delivery notices were sent down for physical silver for a total of 45,000 oz. The total number of notices sent down so far this month total 228 or 1,140,000 oz.
To obtain what is left, we take the delivery notices of 9 and subtract from today's open interest of 55, to give us 46 notices left to be served upon or 230,000 oz.
Thus the total number of silver oz standing in this delivery month for options is as follows:
1,140,000 oz + 230,000 oz (to be served0 = 1,370,000.
It seems that in both gold and silver, the open interest recorded was faulty or we
had our usual cash settlements to reduce those open interests.
I will comment on the inventory changes for you tomorrow.
CLICK HERE to read the whole report.
Here is a brief segment from the report:
The comex notified us that 9 delivery notices were sent down for physical silver for a total of 45,000 oz. The total number of notices sent down so far this month total 228 or 1,140,000 oz.
To obtain what is left, we take the delivery notices of 9 and subtract from today's open interest of 55, to give us 46 notices left to be served upon or 230,000 oz.
Thus the total number of silver oz standing in this delivery month for options is as follows:
1,140,000 oz + 230,000 oz (to be served0 = 1,370,000.
It seems that in both gold and silver, the open interest recorded was faulty or we
had our usual cash settlements to reduce those open interests.
I will comment on the inventory changes for you tomorrow.
CLICK HERE to read the whole report.
Sunday, January 2, 2011
Silver and gold finish at their highest /silver up 84% this year - Harvey Organ's Daily Gold & Silver Report
http://harveyorgan.blogspot.com/2011/01/silver-and-gold-finish-at-their-highest.html
Silver and gold finish at their highest /silver up 84% this year.
Good morning to you all and a Happy New Year. May this year be a healthy and prosperous one for you.
Silver finished the regular comex session at $30.91. It also finished the access market price at the same level reaching its pinnacle for the year at closing time. The highest ever close on silver is $50.00 which occurred during the Hunt brothers attempt at cornering the silver metal (January 1980). Most of the gains in that year occurred during December 1979 and January 1980. Silver has now spent more time over 20.00 dollars this past year than it did in 1979-1980.
Gold finished at regular comex session at $1421.00 and it too finished the access market at the same level. Gold reached its pinnacle price for this year and all time at closing.
I would like to point out that gold has now risen consecutively for the past 11 years:
From Richard Russell: ( have inserted the 2010 closing price of gold)
The venerable Richard Russell…
December 27, 2010 -- I have posted below the year-end price of gold starting with the year 2000, the first up-year of one of the greatest and least appreciated bull markets in history. Take in this series, you may never see its like again.
2000 -- $273.60
2001 -- $279.00
2002 -- $348.20
2003 -- $416.10
2004 -- $438.40
2005 -- $518.90
2006 -- $638.00
2007 -- $838.00
2008 -- $889.00
2009 -- $1118.40
2010 -- $1421.00.
... (lots more CLICK HERE to view the whole post)
Silver and gold finish at their highest /silver up 84% this year.
Good morning to you all and a Happy New Year. May this year be a healthy and prosperous one for you.
Silver finished the regular comex session at $30.91. It also finished the access market price at the same level reaching its pinnacle for the year at closing time. The highest ever close on silver is $50.00 which occurred during the Hunt brothers attempt at cornering the silver metal (January 1980). Most of the gains in that year occurred during December 1979 and January 1980. Silver has now spent more time over 20.00 dollars this past year than it did in 1979-1980.
Gold finished at regular comex session at $1421.00 and it too finished the access market at the same level. Gold reached its pinnacle price for this year and all time at closing.
I would like to point out that gold has now risen consecutively for the past 11 years:
From Richard Russell: ( have inserted the 2010 closing price of gold)
The venerable Richard Russell…
December 27, 2010 -- I have posted below the year-end price of gold starting with the year 2000, the first up-year of one of the greatest and least appreciated bull markets in history. Take in this series, you may never see its like again.
2000 -- $273.60
2001 -- $279.00
2002 -- $348.20
2003 -- $416.10
2004 -- $438.40
2005 -- $518.90
2006 -- $638.00
2007 -- $838.00
2008 -- $889.00
2009 -- $1118.40
2010 -- $1421.00.
... (lots more CLICK HERE to view the whole post)
Subscribe to:
Posts (Atom)