Fifteen minutes after that,we were back in the valley—and it looked like this. The CME Daily Delivery Report showed that one gold and 113 silver contracts were posted for delivery within the COMEX-approved depositories on Tuesday. In silver, the only short/issuer was Jefferies—and the biggest long/stopper was, drum roll please, JPMorgan in its in-house [proprietary] trading account with 77 contracts. Canada’s Scotiabank was a very distant second with 16 contracts received. The link to yesterday’s Issuers and Stoppers Report is here. The CME Preliminary Report for the Friday trading session showed that gold open interest for March declined by 19 contracts—and the new total is down to 111 contracts. In silver, March o.i. fell by 39 contracts, which was all delivery related—and open interest is now at 805 contracts, minus the 113 contracts mentioned in the previous paragraph. There was a tiny withdrawal from GLD yesterday, only 8,917 troy ounces worth. I would guess that this represents a fee payment of some kind. I must admit that I’m somewhat surprised that GLD hasn’t shed more gold than that considering the hammering the price has taken over the last week. I would bet serious money that all the GLD shares that were falling off the table lately were being picked up by JPMorgan et al. What else could explain the lack of withdrawals? As of 7:40 p.m. EDT yesterday evening, there were no reported changes in SLV—and what I said about GLD shares in the previous paragraph also applies to SLV shares as well. The folks over at Switzerland’s Zürcher Kantonalbank updated their website with the activity in both their gold and silver ETFs as of Friday, March 6—and there were declines in both once again. Their gold ETF dropped by 34,354 troy ounces—and their silver ETF declined by 229,451 troy ounces. There was another tiny sales report from the U.S. Mint yesterday. They sold 57,500 silver eagles—and that was all. Month-to-date the mint has sold 23,000 troy ounces of gold eagles—3,500 one-ounce 24K gold buffaloes—and 1,431,000 silver eagles. Based on these sales, the silver/gold sales ratio works out to 54 to 1. There was decent movement in gold at the COMEX-approved depositories on Thursday. Nothing was reported received, but 68,035 troy ounces were reported shipped out. The link to that activity is here. It was monstrous day for silver, as 602,112 troy ounces were reported received—and 1,438,058 troy ounces were shipped out the door. The link to that action is here. The Commitment of Traders Report for positions held at the close of COMEX trading on Tuesday was about what I was expecting to see. In silver, the Commercial net short position, decreased by a chunky 6,449 contracts, or 32.2 million troy ounces —and is now down to 33,263 contracts, or 166.3 million troy ounces. It’s not lowest it’s ever been, but certainly getting there. Ted said that the Big 4 traders reduced their net short position by 2,000 contracts—and the ‘5 through 8’ traders only by 200 or so. The smaller Commercial traders added another 4,300 contracts to their already huge long position. Ted also said that JPMorgan’s short-side corner is somewhere in the 13-15,000 contract range. We’re both of the opinion that JPMorgan is no longer the biggest short in COMEX silver—and it’s been my opinion for years that it’s Canada’s Scotiabank, with a short position in the 15-20,000 contract range. Over in the Managed Money category in the Disaggregated COT Report, these technical fund-type traders added 6,575 contracts to their short position. They’ve added more since the cut-off. The other surprise in the Managed Money category, was with what I call the “unblinking” longs. These are non-technical fund traders. Price doesn’t matter to them—and it showed again in this report, as they added 1,593 longs to their long position that now totals 42,054 contracts, or 210 million troy ounces. Who are these guys, you ask? Beats me, I say—but someday we’ll find out. In gold, the Commercial net short position declined by a healthy 34,045 contracts, or 3.40 million troy ounces. The Commercial net short position now stands at 8.93 million troy ounces. The Big 4 traders covered 8,000 contracts—and the ‘5 through 8’ traders another 2,000 or so. But it was the raptors, the smaller traders that were the most active, as Ted says they added 24,000 contracts to their already huge long position. Ted says its about the same size now as it was back in November at the lows then. In the Disaggregated COT Report, the technical funds in the Managed Money category sold 8,247 long contracts—and added 16,039 short contracts on top of that. Ted was expecting more than this, but as I pointed out, the “unblinking” non-technical fund longs in the Managed Money category were probably adding to their long positions in gold as well—and that made the overall numbers in that category not quite as good as he was expecting. While on the subject of the “unblinking” non-technical fund longs, despite the massive price declines during the reporting week, they increased their long positions in palladium, platinum and silver, as they all showed positive net numbers. Only gold was negative—and as I said in the previous paragraph, their buying was masked by the huge selling by the technical funds in the same category. Here’s Nick Laird’s “Days of World Production to Cover COMEX Short Positions” for all physically traded commodities on the COMEX. Silver, platinum and palladium are nailed to the far-right side of this chart, which is a position they’ve occupied for the last 15 years that I’ve been following it. And because of the big declines in the short position in gold during the last month, cocoa has now moved into fourth place by default. Note that the short positions of the Big 4 traders now dominate this chart in all four precious metals, as the short positions of the ‘5 through 8’ largest traders are becoming immaterial The agreement with Sumitomo on the Fourth of July project is a great compliment to our recent agreement with Newmont Mining on the Wood Hills South project. We also have the Arabia, Golden Shears and some generative efforts being funded through our joint venture business model. We have enough capital in the bank to last two more years and no debt. The share structure remains at 33.5 million fully diluted. We are very well positioned to have a major win with an incredible share structure. Renaissance Gold has proven through the joint venture business model what exploration success with a tight share structure can do. Renaissance is the spinout of AuEx Ventures that sold in 2010 and made just shy of 100x their first private placement. It takes technical strength and fiscal conservatism to generate meaningful share holder returns in the high risk exploration business. Please visit our website for more information. Once you head up this hill and turn the corner, you leave Jerome behind—and are headed for Prescott via the mountain pass, which is still quite a climb. The second photo is less than a two minute drive from the first one—and Jerome has already vanished behind the rocks. The dollar index closed late on Thursday afternoon at 99.27—and rallied unevenly from there, with the 100.39 high tick coming shortly after 2:30 p.m. EDT. From there it sold off a bit into the close, but still managed to close with a three-digit handle at 100.19 —up another 92 basis points. One thing I’m happy about is the fact that we’re at, or very close to the bottom, as there’s not much room left to the downside. Since the technical funds in the Managed Money category of the Disaggregated COT Report have long since sold every long in the precious metals that they have—and are now piling in on the short side, the down-side price action will now be solely determined by how many more shorts positions they’re prepared to put on under the continuing pressure from the HFT boyz. Nothing else matters. I’m also happy to see that the gold price has been holding up relatively well vis-à-vis the dollar index—and if it wasn’t for this last big engineered price decline that began in mid January, the gold price would certainly be much higher than it is now, regardless of what the U.S. dollar is doing, as it just happens to be the best looking horse in the glue factory right now, which is comment I’ve made several times in the past. Next week we get the FOMC meeting—and nothing will surprise me as far as price action is concerned when the smoke goes up the chimney early Wednesday afternoon in Washington. That’s one of many items on the dance card for early next week. But in the interim I’ll be quite surprised if much happens from a price perspective between now and then—and it’s entirely possible that the precious metal charts on Monday and Tuesday will end up looking the same as the ones we had from mid-week onward this past week. Looking ahead of the FOMC meeting—and with the bottom in the precious metal markets pretty much in, what happens during the next rally is something that we should put our minds to. Will it end up the same old way, like the rally from mid December until mid January, as JPMorgan et al capped the rally all the way up until they turned the market over. Or will it be “different” this time? It beats me, but when the rally starts, we won’t be left doubting for long as to how it’s going to turn out. That’s all I have for today, which is more than enough once again. I’m off to bed. See you on Tuesday. Once again, I have the 1-year USD Index for you courtesy of stockcharts.com. The silver equities followed an almost identical pattern as the gold equities, except they started the trading session off in positive territory—and ended there as well. Nick Laird’s Intraday Silver Sentiment Index closed up a decent 1.10 percent. We’re at, or very close to the bottom As has been the case for three days in a row, the smallish rally in gold in Far East trading met the usual not-for-profit sellers an hour or so before the London open. The low tick came shortly after 11:00 a.m. EDT in New York. The gold price rallied quietly from there, before tacking on another quick five bucks in the last hour of trading in the electronic market. The high and low ticks, such as they were, were recorded as $1,160.90 and $1,150.40 in the April contract. Gold closed in New York yesterday at $1,158.60 spot, up $5.90 from Thursday. Net volume was very quiet at only 104,000 contracts. I have a lot of stories again today, including a goodly number that had to wait for Saturday’s column for length and/or content reasons. I hope you can find the time to read the ones that interest you. I base my analysis on easily verifiable public data, principally the CFTC’s COT data. That data both suggests price trends, while at the same time provides the proof of the manipulation. Many manipulation deniers and critics love to erroneously point out that no one ever complains about manipulation when prices are climbing, only when prices fall. Regular readers know that is nonsense—and that’s because I am usually most vocal about manipulation at price tops, precisely because that is the point of maximum concentrated short selling by JPMorgan and other commercials. Either a market is manipulated or it isn’t; it is impossible for a market to be manipulated for as long as silver has been if the manipulation weren’t a continuing process. There’s no voodoo or deep secret to my COT analysis – when the commercials get as least net short as they can, the market looks good to go to the upside. When the commercials are overloaded on the short side, the market is not usually good to go to the upside. I may be wrong (and please let me hear from you if you feel I am), but if I refrained from suggesting that the COT structure was bearish when, in fact, it was bearish, that it would make any difference to prices falling. Any legitimate analyst strives to be objective and avoid sugar-coating or distorting the facts. For me to avoid pointing out when the commercials are packed like the criminal rats that they are on the short side would seem to validate the manipulation deniers’ criticism and expose me as non-objective. I don’t think I could do that in good conscience, particularly knowing it wouldn’t likely do any good. Again, if you disagree, please let me hear from you. – Silver analyst Ted Butler: 11 March 2015 Today’s pop ‘blast from the past’ dates from 1961. I was barely a teenager then, but I remember the song well. It’s by American singer/song writer Gene Pitney—and the link is here. Today’s classical ‘blast from the past’ was composed in 1904. It was not a smash hit when it was first performed—and was almost relegated to the dustbin of classical music history until the latter part of the 20th century when it was revived and restored to the exalted position it holds today. It took years for me to appreciate it for what it was. It’s one of the most extraordinarily technically demanding violin concertos ever written—and when performed the way it should be, it’s awesome. It’s the Jean Sibelius violin concerto in D minor, Op. 47. Here’s the luscious and incredibly gifted Sarah Chang doing the honours accompanied by the Dutch Radio Filharmonisch Orkest. Jaap van Zweden conducts. The link is here. I’ve posted this before, but its been a while. For the third day in a row the precious metal stocks traded in the same pattern. I feel like Bill Murray in Groundhog Day. The only difference about Friday’s price action was that there was a slight pop in prices after the equities markets closed—and before the electronic markets closed at 5:15 p.m. EDT. I doubt very much if the free markets were anywhere to be found in the precious metal trading arena this week. Here are the 6-month charts for all four precious metals once again. The platinum and palladium charts were, once again, mini versions of the gold and silver charts. Platinum closed up two bucks at $1,115 spot—and palladium was up 4 dollars to $790 spot. Here are the charts. Although the gold import numbers by China through Hong Kong have been out for about three weeks already, they just released the number through official channels yesterday—and this enabled Nick to update the appropriate charts. And despite the dramatic fall-off in early-to-mid 2014, there’s still a pretty big chunk of gold being imported to China via Hong Kong. In January it was 76.118 tonnes. For the third day in a row, the silver chart pattern was a virtual carbon copy of the gold price chart, although in silver the high of the day came at the close in New York—and not in late afternoon trading in the Far East like it did in gold. The low and high were recorded by the CME Group as $15.455 and $15.66 in the May contract. Silver finished the Friday session at $16.64 spot, up 8.5 cents from Thursday. Net volume was also very quiet at only 18,500 contracts. Without a doubt, there’s been even more improvement in the COT numbers since the Tuesday cut-off, as “da boyz” slammed the metals to new lows on Wednesday. I should also mention that I didn’t see any signs of jiggery-pokery in this COT Report, but there’s also a chance that not everything was reported in a timely manner, either. If not much changes between now and next Tuesday’s cut-off, we should see Wednesday’s trading data clearly in next Friday’s report. Nick sent me a couple of charts in the wee hours of this morning that I thought worth sharing as well. The first one is the withdrawals from the Shanghai Gold Exchange for the week ending March 6. The magic number was 44.520 tonnes. The gold stocks opened down a hair—and then sank to their lows minutes after 11 a.m. EDT, which was gold’s low as well, The subsequent rally made almost back to unchanged—and undoubtedly would have closed in the green if the last minute rally in the gold stocks had occurred before the markets closed. The HUI finished down a smallish 0.39 percent. At the pass about fifteen minutes later, it looked like this. The trees are ponderosa pine.
Citing salmonella concerns, the Food and Drug Administration has issued a mandatory recall for kratom products made by a Las Vegas company — and the federal agency says it’s the first time it has ever taken such an action after a company ignored a federal request for a voluntary recall.An herbal supplement that is sometimes promoted as a safer substitute for opioids and is also used as a recreational drug, kratom is derived from plants that grow in several Asian countries. Its safety and legal standing have been the subject of both wide-ranging debate and threats of tighter federal regulation — but the FDA says this week’s recall is meant only to protect U.S. consumers from a pathogen.”Triangle Pharmanaturals refused to cooperate with FDA despite repeated attempts to encourage voluntary recall,” the agency said at the top of its mandatory recall notice for a range of the company’s kratom products.”This action is based on the imminent health risk posed by the contamination of this product with salmonella,” said FDA Commissioner Dr. Scott Gottlieb, “and the refusal of this company to voluntarily act to protect its customers and issue a recall, despite our repeated requests and actions.”The recalled products include supplements such as Raw Form Organics Maeng Da Kratom Emerald Green, Raw Form Organics Maeng Da Kratom Ivory White, and Raw Form Organics Maeng Da Kratom Ruby Red. Those and any other kratom products made or handled by Triangle Pharmanaturals should be discarded, the agency said.The mandatory recall comes days after the FDA formally sent a request for a voluntary recall to Triangle Pharmanaturals on March 30. That request was ignored, the agency says, adding that the company also did not respond to a follow-up order to cease distribution.In addition, the FDA says, its “investigators were denied access to the company’s records relating to potentially affected products and Triangle employees refused attempts to discuss the agency’s findings.”A website associated with Triangle Pharmanaturals is no longer online; neither is its Facebook page. According to Nevada public records, the company is a limited liability company that filed its articles of organization on April 4, 2017.The FDA says six samples of the company’s kratom products tested positive for salmonella, including two samples that were sold at a store called Torched Illusions in Tigard, Ore., and were collected by the Oregon Public Health Division.It’s only the third time the FDA has invoked its mandatory recall authority — but the agency says it’s the first time it has had to order a mandatory recall because a company chose not to follow its order of a voluntary recall.According to the FDA, the recall dispute played out as it tried to shut down a multistate outbreak of salmonella cases the FDA says have been linked to “numerous brands of kratom-containing products.” The strains of salmonella bacteria in Triangle’s kratom products are different from the ones in that outbreak, the agency says.Describing the risk posed by the contaminated products, the FDA states:”Most people infected with salmonella develop diarrhea, fever and abdominal cramps 12 to 72 hours after infection. The illness usually lasts 4 to 7 days, and most people recover without treatment. However, in the current salmonellosis outbreak associated with kratom products, unusually high rates of individuals have been hospitalized for their illness.” Copyright 2018 NPR. To see more, visit http://www.npr.org/.
The government is making it harder for disabled politicians to stand for elected office by failing to renew a fund that paid for their disability-related campaign expenses, according to a candidate in next month’s parliamentary by-election.Simeon Hart (pictured), who is standing for the Green party in Oldham West and Royton, was the only British Sign Language-user to stand for election in May’s general election.Hart was able to use support from the Access to Elected Office (AEO) scheme to pay for the BSL interpreters he needed to campaign.But the fund – which offered grants to disabled people to pay for their additional impairment-related costs in standing for election as a councillor or MP – has been lying dormant since the general election while the government carries out an independent review of its effectiveness.Now Hart is having to rely on crowdsourcing funding to pay for interpreters during the by-election campaign.He said: “Becoming a candidate in elections and by-elections is supposed to be open to anyone eligible in the UK.“Yet my experience has been a challenge and I know that many people with a disability will be put off trying to become an elected politician.“My party and I have a detailed plan for how we can reduce fuel poverty and keep parks public in the constituency and I am unable to articulate my plans as well as the candidates from other parties because of problems finding and paying for an interpreter.“If the government is serious about making elections a level playing-field, it will reconsider its heartless decision to scrap the Access to Elected Office fund.”By 10.30pm today (26 November), he had raised £970 of the £3,000 he needs to pay for BSL interpreters during the campaign.Deborah King, co-founder of Disability Politics UK, said she believed the government was in “clear breach” of article 29 of the UN Convention on the Rights of Persons with Disabilities, which guarantees disabled people the right to participate in public and political life “on an equal basis with others”.She said: “The convention expects signatory states to make reasonable adjustments to enable participation in the political process.“The Green Party and Simeon need to make a formal complaint to the UN about the breach.”She said that disabled people now had even less representation in the Commons than they did before the general election, after Dame Anne Begg lost her seat, while David Blunkett retired.King said: “We need to support a new generation of disabled people who want to be politicians.“Candidates will miss out on funding whilst the evaluation [of the fund] is going on.”David Buxton, director of campaigns and communications for the British Deaf Association, supported Hart’s call for government action.He said: “We are disappointed that the government has not yet made a decision about whether this vital funding will continue.“This delay creates uncertainty for potential Deaf and disabled candidates who wish to stand at elections next year and are currently unsure whether they will get the support they need towards communication and other areas.“It is imperative that a decision is made immediately, as selection meetings for some areas have already started to take place.“We now urge the government to prove their commitment to the spirit of the Equality Act by supporting diversity and allocating funds now to any potential candidate, as well as to Simeon, who is now actively canvassing.“We also expect them to complete their evaluation and review about the future of the fund as soon as possible.”In September, the Equality and Human Rights Commission called on the government to reopen the fund, as part of its submission to a UN inquiry into the rights of disabled people to participate in political and public life.
Reviewed by James Ives, M.Psych. (Editor)Feb 8 2019Minimally-invasive surgery to remove blood from the brain along with intermittent dosing of a clot-busting drug after a brain bleed may not improve function better than medical therapy but it was associated with fewer deaths, according to late-breaking science presented at the American Stroke Association’s International Stroke Conference 2019, a world premier meeting for researchers and clinicians dedicated to the science and treatment of cerebrovascular disease.The research study – Minimally Invasive Surgery Plus Alteplase for Intracerebral Hemorrhage Evacuation (MISTIE III), which will be simultaneously published in The Lancet – tested if catheter-based removal of blood from intracerebral bleeding could improve the proportion of patients with mild to no disability at one year.Related StoriesAn active brain and body associated with reduced risk of dementiaDon’t Miss the Blood-Brain Barrier Drug Delivery (B3DD) Summit this AugustStudy provides new insight into longitudinal decline in brain network integrity associated with agingThere is currently no effective surgical treatment for intracerebral hemorrhage, which is the most common type of lethal brain bleed. The MISTIE procedure avoids the damage of traditional craniotomy by using imaging to guide placement of a soft tube into the blood clot through a small hole in the skull to remove large amounts of blood and toxic blood components.The study included 506 stroke patients (average age 62; 62 percent male) from 78 sites who were randomized to medical therapy or to a standardized, low mechanical impact procedure with suction and up to three days of gentle irrigation with the clot-busting drug alteplase. Two hundred and fifty-six patients were randomized to the MISTIE procedure and 250 to medical therapy. Functional recovery was compared at one year after stroke.Researchers found: For medium to large blood clots, the MISTIE procedure did not improve functional recovery one year after stroke. Good recovery was achieved in 45 percent of MISTIE patients and 41 percent medical therapy patients. 9 percent of patients in the MISTIE group died while 15 percent of the medical therapy patients died. Source:https://newsroom.heart.org/news/minimally-invasive-surgery-for-brain-bleeds-may-not-be-better-at-restoring-function-than-standard-meds-but-may-lessen-deaths “The trial confirmed that removal of the blood clot using the MISTIE procedure can be done safely as compared to supportive therapy. But there was no difference in functional recovery between those in the surgery group and the medical group,” said Daniel F. Hanley, M.D., professor of Acute Neurology and director of the Division of Brain Injury Outcomes at Johns Hopkins University in Baltimore. “The trial results do suggest that patients have improved functional recovery when the blood clot size is reduced to about 3 tablespoonsful or less of blood. This will require further study, but, at a minimum, the trial data provide a sound basis to avoid limiting care in patients with large brain blood clots.”
SHARE SHARE EMAIL COMMENTS September 06, 2018 Published on Karnataka agricultural research and technology SHARE The University of Agricultural Sciences (UAS), Dharwad, plans to hold its annual four-day Krishi Mela from September 22-25. UAS has planned to organise Krishimela-2018 under the theme ‘Consume Millets-Conserve Health’ in collaboration with the Karnataka State Department of Agriculture and the National Bank for Agriculture and Rural Development (Nabard) at the main campus in Dharwad.“This year UAS is expecting more than 10 lakh farmers, farm women, extension workers and rural youth to take part from Karnataka and neighbouring states,” said R R Patil, Director of Extension, UAS-Dharwad.The mega event will provide a platform to showcase and educate stakeholders on the agriculture and allied technologies released by the university and private enterprises. In addition, a millets corner, sale of seeds, fertilisers, chemicals, biofertilisers and biopesticides will be undertaken.During the mela, UAS is to hold a demonstration of farm mechanisation activities by the manufacturers of agriculture implements. “During Krishi Mela, the university would organise bus arrangements within the campus for farmers to visit various crop demonstrations,” said Patil. COMMENT
The aim of the project is to enhance consumer convenience and rationalise electricity consumption SHARE January 09, 2019 COMMENT power and distribution Energy Efficiency Services Ltd (EESL), the energy services company under the Union Ministry of Power, has announced the completion of the project to replace 50,000 conventional electricity meters with smart meters in the New Delhi Municipal Council (NDMC) area.The aim of the project is to enhance consumer convenience and rationalise electricity consumption. The adoption of smart meters will lead to total annual savings of ₹12.47 crore to NDMC, said an official statement. ‘Affordable power’ “India is making rapid strides in providing universal access to affordable power. The Centre is accelerating the adoption of smart meters to ensure efficient management of electricity by checking data-entry errors, billing inefficiencies, and cutting the costs of manual meter reading through web-based monitoring system,” said RK Singh, Minister for Power, New and Renewable Energy, on Wednesday. The event also witnessed the launch of smart meter feature on NDMC 311 mobile application enabling consumers to access various services at the tap of a finger. The smart meter tab has been added to NDMC app’s home screen. Through this, consumers can now get clarity on their energy habits and consumption through detailed and personalised insights. “We aim to play a vital role in India’s journey towards becoming a lower-carbon economy and an energy-secure nation. And, as the first municipal body to implement 100 per cent smart metering solution, we hope to encourage our counterparts in the rest of the country to follow suit,” said Naresh Kumar, Chairman, NDMC. EESL has funded and built the smart metering solution in the project area. It will also operate and manage the system enabling NDMC to benefit from smart meters with zero upfront financial investment. NDMC’s repayment to EESL will be through the monetisation of energy savings, resulting from enhanced billing accuracy, avoided meter reading costs and other efficiencies. This includes the immediate elimination of the cost of manual meter readings. These savings further enable NDMC to invest in value-added services for its consumers. Under its Smart Meters National Programme, EESL aims to replace 25-crore conventional meters with smart meters in India.EESL and NDMC also signed an MoU to install public e-charging stations. The initiative is to promotie Electric Vehicles (including two-wheelers) in the NDMC area. New Delhi Published on SHARE SHARE EMAIL COMMENTS