NOV 20/ANOTHER RAID ON GOLD AND SILVER AS PROMISED/MASSIVE AMOUNTS OF GOLD EFP’S ISSUES WHICH MEANS STHAT THERE IS NO GOLD TO BE DELIVERED UPON AT THE GOLD COMEX AND FOR THAT MATTER A HUGE AMOUNT…

GOLD: $1276.90 DOWN $19.70
Silver: $16.93 DOWN 45 cents
Closing access prices:
Gold $1276.90
silver: $16.93
SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
SHANGHAI FIRST GOLD FIX: $1296.26 DOLLARS PER OZ
NY PRICE OF GOLD AT EXACT SAME TIME: $1291.40
PREMIUM FIRST FIX: $4.86
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SECOND SHANGHAI GOLD FIX: $1294.99
NY GOLD PRICE AT THE EXACT SAME TIME: $1290.90
Premium of Shanghai 2nd fix/NY:$4.39
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LONDON FIRST GOLD FIX: 5:30 am est $1292.35
NY PRICING AT THE EXACT SAME TIME: $1291.50
LONDON SECOND GOLD FIX 10 AM: $1286.20
NY PRICING AT THE EXACT SAME TIME. 1286.30
For comex gold:
NOVEMBER/
NUMBER OF NOTICES FILED TODAY FOR NOVEMBER CONTRACT: 1 NOTICE(S) FOR 100 OZ.
TOTAL NOTICES SO FAR: 1052 FOR 105,200 OZ (3.372TONNES)
For silver:
NOVEMBER3 NOTICE(S) FILED TODAY FOR 15,000 OZ/
Total number of notices filed so far this month: 884 for 4,420,000 oz
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Bitcoin: BID $8100 OFFER /$8125 up $412.00 (MORNING)
BITCOIN : BID $8222 OFFER: $8247 // up $534 (CLOSING)

This post was published at Harvey Organ Blog on November 20, 2017.


Stocks and Precious Metals Charts – The Willful Mispricing of Risk

Today was a stock options expiry.
Gold and silver rallied smartly, back up to the levels where they roughly were before they were bushwhacked on the Comex into the FOMC meeting and Non-Farm Payrolls boogie woogie.
I guess the theory that this smackdown of gold to retest 1270 earlier this week was a gambit ahead of stock option expiry was tradeable.
We are in a new era. I am hearing this on TV and in comments and on chat forums.
We are in an era where risk has been abolished by the central banks and their free money. So there is little difference between prime and subprime, between 2 year and 10 year Treasuries, and between stocks and bonds.
According to some of the Pied Piper pundits stocks are better than riskless cash, because stocks are going to keep rallying forever after, and cash is trash. Buy buy buy, and don’t be left behind.
This is the kind of mantra that the sell-side and the wiseguys of the Street too often resort to when they are taking profits from their pool after a big price run higher, and unloading mispriced junk on mom and pop, through the funds and institutions.
Once the selling starts in earnest, and it will beyond any doubt at some point, by whatever event that may happen to trigger it, this is going to get ugly very quickly. But this is the system that we have today. This will be the third bubble and bust since the repeal of Glass-Steagall, one of the highest funded PR and political campaigns in modern history.

This post was published at Jesses Crossroads Cafe on 17 NOVEMBER 2017.