October Comex Gold "Deliveries"

As we've been monitoring all year, the total amount of gold allegedly "delivered" through the Comex has soared in 2016. This is simply another anecdotal datapoint of gold demand but the trend is certainly noteworthy, particularly when you see the numbers thus far in October.

We've already written about this trend several times this year. Our most recent article is linked below and I strongly encourage you to read this post as a refresher before you continue.

As noted in the post above, 2016 has seen a very unusual "delivery" pattern for gold on the Comex. Consistent with surging open interest and surging demand for gold in all its forms around the world, "deliveries" of gold through the Comex have increased as well. However, when you compare "deliveries" for 2016 versus 2015, you'll notice that the divergence and increase didn't really begin in earnest until June if this year. See below:

As you can see, for the first six months of 2015, the amount of Comex gold "deliveries" totaled 4,149 for 414,900 ounces or about 13 metric tonnes. Through May of 2016, total Comex gold "deliveries" were 9,683 for 968,300 or about 30 metric tonnes. As you can quickly do the math, this is over a 2X increase and certainly noteworthy on its own merit.

However, beginning with the "delivery month" of June, Comex gold "deliveries" began to explode at a startling pace. Check the charts above again and note the totals over the past four months. For the period June-September 2015, total Comex gold "deliveries" were 8,832 for 883,200 ounces or about 27.5 metric tonnes. For the same period this year, total Comex gold "deliveries" totaled 39,646 for 3,964,600 ounces or about 123.5 mts. This is about 4.5X times the 2015 amount.

And now look at what has happened during the October...a month which is historically the lightest "delivery month" on the Comex calendar. Again, referring to the charts above you can see that the total number of Oct15 "deliveries" was 950 for 95,000 ounces or slightly less than 3 metric tonnes. Through yesterday, October 21, the Oct16 "delivery" total is a whopping 9,163 for 916,300 ounces or about 28.5 metric tonnes. This is over a 9X increase versus the same month last year!

And this gets even more interesting when you drill down into the day-by-day "deliveries" and open interest...

The Oct16 Comex gold contract went "off the board" back on September 29. That evening, there will still 7,393 Oct16 contracts still open and, with First Notice Day pending the next day, all of these remaining contracts had to be fully funded with 100% margin, indicating a willingness and financial ability to take or make delivery. The October deliveries began on September 30 and total Oct16 open interest fell to 4,458 as 2,470 contracts were "delivered" and 465 contracts were liquidated by speculators unwilling or unable to make the 100% margin requirement.

A normal "delivery" pattern would then show a declining amount of open interest in the active "delivery" month as gold is "delivered" and contracts are closed. However, as you can see below, it has been a very busy month. You should also be sure to note the current total:

So, contributing to the total "delivery" number that exceeds last October by a factor of 9.5, there has been a surge of new open interest that has entered the Oct16 contract with the intention of either making or taking immediate "delivery" of gold...electing not to wait for November or the huge "delivery month" of December. The additions of open interest so far total 1,523 contracts for 152,300 ounces or nearly 5 metric tonnes.

Of course, the Comex and CME Group deliberately make it nearly impossible to discern if this is a rush to buy or sell "gold" in October. This new open interest could be a party looking to immediately unload $200,000,000 worth of gold. However, it could also be someone or something looking to buy and take immediate "delivery" of $200,000,000 worth of gold. It could also be some combination of the two...no one can say with certainty. And much of this is the usual Comex Bullion Bank Circle Jerk where one Bank issues out the warehouse receipts while another Bank stops and takes "delivery".

Total Stops: Goldman 2,936, JPM 2,095 and Scotia 819

Total Issuance: Scotia 3,100, Goldman 1,409 and HSBC 532

You can see the entire report here: http://www.cmegroup.com/delivery_reports/MetalsIssuesAndStopsYTDReport.pdf

And this is also interesting. Note the sudden involvement of two firms which had, heretofore, had very little if any activity:

More information on those two firms here:

For example, just yesterday, 608 "deliveries" were issued out of the House Account of Macquarie with 533 being stopped into the House Account at Scotia:

But I don't want to get bogged down in the minutiae as this post is not about attempting to unravel the riddle wrapped in mystery inside of an enigma that is The Comex. Instead, we simply wanted to draw your attention to the astonishing increase in the pace of Comex "deliveries". Again, this DOES NOT signal that some sort of Comex delivery failure is imminent or eventual. However, in an anecdotal indicator similar to surging ETF inventories, this massive expansion in the amount of gold allegedly "delivered" through Comex is clearly a sign of a significant increase in demand for gold and synthetic, gold-related investments in 2016. If this trend continues, you can be certain that the new bull market for price, which began early this year, will continue into 2017 and beyond.

TF

www.tfmetalsreport.com/subscribe

130 Comments

Orange's picture

Hello Public

Become a member - Turd is worth one hell of a lot! And charges next to nothing!

oh yes, first!

DOOGIE's picture

Duece will turn you loose

In like FLYNN almost !!!

gold slut's picture

Just a second...

I'm SECOND!

OK, I take my hat off to you Doogie, by about a couple of nanoseconds...  Are you a HFT trader?

Marchas45's picture

Screw It

I'll Take 4th

LostMind's picture

Glad to Take the Fufth

Can't afford to own the fourth anymore... Silver must go up!!!

ArtL's picture

6!

hard to get even a top 10 these days.

canary's picture

I see DOW clearly manipulated upward (Fridays tradition)

fut_chart.ashx?t=YM&cot=124601,124603&p=

Turd Ferguson's picture

re the Dow

MODERATOR

That happened the last time it peeked below 18,000. I think it was early last week.

Swineflogger's picture

Ocho

8ish

Turd Ferguson's picture

The GLD

MODERATOR

Again, these ETF inflows are nothing more than a secondary indicator at best, as a proxy for actual gold demand.

However, it's interesting to note that after another 2.96 mt addition yesterday, the total GLD "inventory" stands at 970.17 mts. This is just 12.55 mts below the 2016 high of 987.72 on July 5...when price was at its 2016 high of $1380.

This also makes a total inflow of 23.48 mts since price was smashed through the 100-day MA and dropped to current levels two weeks ago.

Also...like this month...January, May and June saw similar, consistent inflows into "inventory" and price rallied in February, June and July. The months of April, August and September all saw net withdrawals and these were prior to the price drops in May, and late September into early October.

billhilly's picture

more shennanigans !

For decades "they" have played their games with Gold through their "derivatives".  This can be examined, investigated, discussed, interpreted, and brought into the light of the regulators ad nauseam yet nothing, NOTHING will be done to alter their manipulations until physical demand overwhelms the apparatus.  This is the only thing which will stop the madness.

Don't count on Media, government regulators, central banks or exchange executives to give a flying fetch about us.  They have the power, for now, and they will defend their "Castle Ponzi" with every weapon they have. 

Our best weapon against this/them is still, and only, to get the word out as best we can.  The "Giants"/"Generals" (Murphy/McGuire/Powell/Sinclair) have spoken and continue to lead us, and now the lower Officers are continuing/taking up the fight.  Our own "Major Turd" (okay, could probably come up with a better one than that) has built a formidable encampment and it is from here that we, the soldiers, can best mount an offensive.  It will be through our own efforts to educate and enlighten our families, friends and neighbors that we can make a real difference.  Wars are won in the trenches.

This being a public thread I encourage all who are not members to sign up for a brief period and enjoy the wisdom and camaraderie that can be found among the Vault pages.  This is truly a remarkable place !

Keep up the good fight ALL, we are slowly gaining ground.  And of course, keep stacking !

Turd Ferguson's picture

SRSrocco

MODERATOR

Steve says this is the most important thing he has ever written. On that basis, you should be sure to make the time to read it.

https://srsroccoreport.com/thermodynamic-oil-collapse-interview-why-the-global-economy-will-disintegrate-rapidly/

Orange's picture

Holy Moly!

Now look what Hitlery is up to. Please read, She can't manipulate the election so she is going to give us a religious moment.

http://beforeitsnews.com/alternative/2016/10/operation-firesign-bigger-than-wikileaks-and-snowden-put-together-mind-blowing-clinton-scheme-to-steal-the-election-3428233.html

abundance's picture

the cyberattack today..from a poster

on investvillage.com, alsi..has lots of merit

another cyber hit...and trade mkts/today was merely a "nuclear test"

My suspicion here with this DDoS attack is partially supported by the fact that my suspicions have not shown up in the MSM who would never blow the lid off this, if it were to be true.

It starts here: This presidential election is throwing down the gauntlet for the globalists. They cannot lose this election. They've built up their position through Bush-Clinton-Bush-Obama and they must continue their momentum through Hillary. They've got control and domination within their reach. In 8 years, Hillary should be able to deliver the goods. They're very close to completely pushing the USA and Western Europe into enough chaos to provoke the implementation of their radical takeover plans. This is not a traditional partisan election between two American ideals. For the first time there is a major candidate (Trump) that truly threatens the globalist momentum. This truly is not just an election. This is war. Not figuratively. Literally. Behind the scenes, this election is a fight that is literally a bloodless coup (not quite...though Scalia apparently didn't bleed out when they assassinated him). 

Given the context of how serious this election is to those who are unopposed to violence and subversion. This Internet attack, my suspicion, was a trial run to see how thoroughly the US Internet can be taken down. Wikileaks is 100% dependent on the Internet. They cannot disseminate their massive trove of information and data by any other means. Who is going to be able to see and read what they're releasing without the Internet? Even if they mailed out thousands of emails in a box, who would be able to read them? Who could search them? Who could distribute the information? It would take months of time to attempt to manually distribute the information and of course, national MSM paper media would not touch it. We are learning great secrets in real-time. Without the Internet this would be impossible for us.

Wiki has said the most damaging information is yet to be released. They say they're saving it for the last few days of the campaign. Now is the time to check those Internet exploits to see what effects they have...how long can they keep the Internet in the dark. How wide can they extend the darkness? Can you imagine the Internet getting simply and unexpectedly shut down...today...right now? What ability would we on this forum have for communicating as we take for granted? How would an attack on election day affect the election? How would results be tallied and data sent? There is no real electronic backup system for the Internet. Making our elections dependent upon the Internet for vital transfers of data is a tremendously risky and potentially catastrophic decision. Sure the elections can be affected and disrupted "by the Russians"...and by these globalists as well. They conveniently omit that caveat, and to be honest, the globalists are the ones with the publicly stated agenda of overthrowing capitalism and necessarily democracy with it. The smoking gun is in their hands. Not the Russians'.

So...Internet outage along the entire East Coast? The globalists have reason to disrupt both the election as well as the progress being made by Wikileaks, which despite their best efforts to blackout the Wikileaks' information via the MSM, has been very damaging to this ongoing coup attempt. They are simply reacting in real-time and testing their abilities to conduct electronic/IT warfare. Disrupting the Internet is one of their most important weapons to counterattack the effectiveness of Wikileaks, and if necessary, the elections as well.

OK...that's my "conspiracy theory" du jour. If we continue seeing these kinds of activities in the days and coming weeks before the elections, I think this theory will be given legs and validated. If the MSM trumpet the talking points that this is an attack by the Russians, we'll certainly know that my theory is true. At this point, all I've seen is speculation that maybe as in the past they're going after the banks. Again, if there are more attacks and especially if they become more effective in their reach and the length of time that they can keep up the attack and the Internet blackout, the speculations and claims that point in any other direction than the globalists, I will become even more convinced that the globalists are behind these attacks. If this is true and if this continues, be sure that we may be fed the lie that this election is like any other, but I contend it is an actual and stealthy coup.

Crazier things have been found to be true in recent years. We've seen crazy truth coming out of these Wikileaks...Scalia assassinated?!? War has already been declared. It's just been under the radar as the MSM, bought and owned by the globalists are keeping us all in the dark. Wikileaks has blown that cover, but they'll resort to nothing to find a way to stop Wikileaks. They cut of Assange's Internet and threatened Ecuador with who knows what to finally shut down Assange. But...alas...just as he said, there are others working for Wikileaks. Apparently, the globalists are not locating these truth patriots fast enough. The blanket approach of killing the Internet is their "red button" should they need to push it. Today was just a nuclear test. 

Dr Jerome's picture

"this is war."

I think you have nailed it on the head, Mr. "abundance." A war is for life or death. No holds barred. Define and Destroy the enemy. Annihilate the enemy. Lie, deceive, cheat, even murder? These 'globalists" think anything goes when you are in a war. They have co-opted the liberalists in this nation--many of who are good people simply fighting for equality and fairness. But the globalist venom is seeping into their hearts, poisoning their speech and interactions with others. I have seen this willingness to break the law to win in several articles this week.

I see evidence of this warfare mentality trickling all the way down into my own family that has not just a few liberals in it. Recently, a close relative called me a "racist" because I said I would vote for Trump. She could have said that "Trumps policies will discriminate against some good people." and I would have been forced to respond, "yeah I agree.' But no, I am now a hater and a racist and she will hardly speak with me.

Are those that vote for HRC "murderers" and "war mongers?"  No, but their logic enables me to make the same venomous accusations they do. But insults don't persuade anyone, so I refrain. I play by the rules, but the globalists do not. War does have rules. We all love to read the stories of enemy soldiers showing honor to one another--even on the battlefield. But these globalist sociopaths will stop at nothing. and even if HRC loses to Johnson, Stein or Trump, they will continue.

We have to turn over the rocks, catch the snakes, and ... let them face a just justice system. 

Rant off.

AlienEyes's picture

Dr. J

"I have seen this willingness to break the law to win in several articles this week."

What 'law' ???

Our's, their's or nature's ?

abundance's picture

Dr. J, agree with your post,,I have

reviewed a conversation that had my mouth drop open and I stopped immediately in my tracks..

I said to someone I kind of know, the stock mkt is rigged and she said good....whoa..

I asked why and she said basically retirement monies are safe (I am rephasing) which

also shocked me..

and I think should I trust this person about anything, my neighbor who is 94 and

clear thinking wth a great memory dismissed wikileaks and only believes the democratic

ideology...sports and msm is where she gets her news..limits conversation for sure..

Then I have to remember that is their goal...chaos, confusion, civil war within the US..

And I pray ...pray for guidance:)

Dr. P. Metals's picture

@AlienEyes

God's Law.

"There is a way which seems right to a man, But its end is the way of death." - Proverbs 14:12

canary's picture

@AE ...What about the law of "General Relativity"

"AE" aka Albert Einstein...Coincidence?...Is that you, Alien?wink

abundance's picture

zh..3rd attack

Third Wave Of Internet Cyber Attacks Lauched, Dyn Warns

  • INTERNET DOMAIN NAME SERVICE PROVIDER DYN SAYS IT IS DEFENDING  AGAINST A THIRD WAVE OF COMPLEX ATTACKS
  • DYN SAYS ATTACK BEING WAGED FROM DEVICES INFECTED WITH MALWARE, COMING FROM TENS OF MILLIONS OF IP ADDRESSES AROUND GLOBE
billhilly's picture

Dr. Jerome and Mr Abundance...

These are great pieces of writing.  You guys are opening up a topic of great importance and I get the feeling this will carry the thread through the weekend. 

Indeed, the goal, one would surmise, is to create confusion and eventually bedlam.  To throw the country/world into such a state that fear and chaos runs rampant and after a sufficient period of calamity the masses will clamor for stability once again.  Of course TPTB will likely be there to offer us their "solutions" and once again gain control of the new and improved "system(s)".  What better way to light the fuse than turn off the power and "break" the financial system...and be able to blame it on someone else.

Was today a test ???  It sure could have been.  I will agree that TPTB might be reacting to a situation they do not have control of, Wikileaks.  They must be worried something fierce that the goods are coming and they better do something.  This could be a very interesting weekend and/or next few weeks. 

I will finish by saying that if you are not already prepared with some extra "cash-on-hand", I would certainly pay the bank/ATM a visit today and do a stock up.  Once the machinery fails, it could be some time before it comes back online.  And what the hey, a quick stop by the LCS is not a bad idea either.

JackPutter's picture

The "Internet Outage", read kill switch

There was a West coast outage that was pretty large this last early Monday morning.  It was 4-ish AM local Seattle

canary's picture

Living without the Internet again???

How long would it take me to get used to?...Small thing like trading without computers?sad

Edit...It would be OK with me, but only if I am 25 years younger.smiley

Dr Jerome's picture

AE

I was referring to laws of the US... I suppose that is "our' law. they certainly live by their own.

  • the video showing the ballot box stuffing,
  • registration of of deceased voters, 
  • Chicago vote bribes,
  • vote-rigging Robert Creamer's white house visits,
  • the wikileaks "revelation" of Dems hiring violent protestors at Trump rallies, 
  • accusing Russia of cyberattacks without providing evidence
  • GOP headquarters in NC getting firebombed
  • the press burying HRC's sins

not to mention

  • cheating in the primary to shut down Bernie,
  • blaming Russia for Ukraine and Syria, and endlessly demonizing Putin in the media--setting us up for war if this elections does not go their way.

The usual stuff we have been reading about for the past six months...

matt_'s picture

Weekly charts...

Since it is the end of the week and we don't have a podcast today, I thought I'd post some weekly charts...here are four 6 month weekly candlestick charts with 10, 20, and 40 week moving averages (corresponding to 50, 100, and 200 day moving averages on a daily chart).

First is gold.  For gold, the averages for the end of the week: 10 week = $1308, 20 week = $1320, 40 week = $1274.  Gold broke down 3 weeks ago, and for the past 2 weeks it has been trying to get back above the 40 week average.  Unfortunately, it failed to break above the 40 week again:

Next, the HUI, which has the following averages right now: 10 week = 228, 20 week = 243, 40 week = 213.  The HUI just barely closed above its 40 week average.  Will it hold?

The chart looks a little different for silver, where the 40 week has continued to act as support.  Silver closed above the 40 week, but just barely.  The averages for silver are: 10 week = 18.70, 20 week = 18.99, 40 week = 17.41:

Last is West Texas crude, which continues to climb higher.  It hit a 6 month high this week, and closed the week well above the 10, 20, and 40 week averages:

canary's picture

Surprise

GLD lost 16.61 tonnes today.

SLV added less than 1 tone.

matt_'s picture

Sensible food storage

I often listen to the Radical Personal Finance podcast by Joshua Sheets (a former certified financial planner).  He typically gives standard financial advice, but this week gave a series of podcasts on food storage.  He mentioned this woman, and the Youtube video is pretty good:

She calls it her system, but it is basically food canning like my grandparents used to do.  She has some good practical advice on storing foods yourself.  I'm interested in stocking up more on emergency supplies and I thought some other Turdites might find the video interesting weekend viewing.  The only problem is that I'll never get my wife to eat meat from a jar.

Markedtofuture's picture

Hillary's Source At State Department Revealed In Leaked Email

Last week we were surprised to find not one but two instances of collusion between Hillary Clinton and the State Department involving the confidential and highly sensitive matter of Hillary's email server. Today, we can finally put a name to at least one source of material, non-public information at the State Department that was spoonfed to the Hillary campaign.

An email sent in September 2015 by Eleni Kounalakis, a former US Ambassador to Hungary until July 2013, who as she herself writes "was forty-three and a land developer in Sacramento, California, when she was tapped by President Barack Obama to serve as the U.S. ambassador to Hungary under Secretary of State Hillary Clinton" on January 7, 2010, she writes to Clinton aides Huma Abedin, Jake Sullivan, John Podesta that she "just left the State Dept. where I have been working as a Virtual Fellow."

She then adds that "a current A/S told me privately that it is a FACT that more of HRCs emails were preserved through her system than if she had used the State dept.'s. He said that in giving her email records to State in the form she recently did, they now have a much more complete historical record than they otherwise would have had."

And then the punchline: disclosure of State Department strategy which promptly would make its way to Hillary:

"I asked if he would say it publicly, and he said he believes the press office is working on something."

Which reveals how, at least in one case, strategic SD tactics were revealed to Hillary Clinton's campaign, which in turn helped her shape her response strategy to what she knew for a fact, her former employer was thinking.

The email in question is below.

http://www.zerohedge.com/news/2016-10-21/leaked-podesta-email-reveals-hillarys-source-state-department

matt_'s picture

Have a good weekend folks...I am out of here

My weekend plan is to not hear or read the words "trump" or "clinton".    Can it be done? 

Hope you all spend some time out of the house with family and friends.  Relax, drink up, and smoke em if you've got em.

benque's picture

Three cheers for Wallonia!!!

Reminds me somewhat of Grand Fenwick, in the magnitude of it's soon to be successful battle with the relatively gigantic cartel of EU and Canada and...?

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