Great and Wonderful Thursday Morning Folks,
Gold is up again with the trade at $1,276.80, a gain of $2.60 and right close to the London high at $1,277.50 with the low at $1,272.10. Silver is tagging along with its trade barely up 2.1 cents at $14.47 with its high at $14.48 and the low at $14.40. The US Dollar finally broke thru the upside resistance with its value pegged at 98.07, up 18.9 points after reaching up to 98.14 before settling down a bit with the low at 97.94. Of course all this non-activity already happened before 5 am pst, the Comex Open, the London close and, “May”be before a prime minister is forced out of office.
The Venezuelan Bolivar now has Gold priced at 12,752.04, gaining back another 15.98 Bolivar with Silver only able to scratch back .20 of a Bolivar so far today with its price at 144.519 Bolivar. Argentina’s Peso now has Gold valued at 57,278.67, a regain of 166.23 A-Pesos within a 24 hour period with Silver pegged at 649.262 almost gaining back all of yesterday’s pullback as the climb equaled 2.176 A-Pesos. Then we have Turkey’s little fireside fiat sale putting Gold’s price at 7,832.36 showing an increase of 41.90 T-Lira with Silver gaining .5055 as well with Ag’s value at 88.7754 T-Lira.
The May Deliveries for Ag seem to be gaining some more drama as the demands for physical increased with the count adding 32 more buy orders putting the requests for physicals at 257 and with Zero Volume up on the board so far this morning. During yesterday’s Comex trading coma we witnessed May Silver’s trading prices widen a bit after the early morning report, but more importantly was the Volume which exceeded a 150 count inside an 8 cent window. Whether these purchases are another batch of EFP’s to London, a real delivery request, or another paper trade exiting out, cannot be answered until Comex pulls its head out and gives the majority of traders the information. Regardless, the demands remain the game, and this is where it all begins and ends. The Overall Open Interest for Silver continues to climb with the count now at 210,970 showing a gain of 116 more shorts to stay the “Delivery” price for now.
Teresa May is rumored to be forced out of office or at the very least, “Klinging-on” (my combined term for a politician that won’t leave and the Star Trek connection as an enemy of the federation) to the her position as primeless minister after her final Brexit gambit backfired, overshadowing a European election that has shown a United Kingdom still having its popular vote blocked by deep state actors. With Europe a complete mess and France in Yellow Jacket tatters, “May”-be all this delay was for this moment in time. After all, Silver’s largest Open Interest gains occurred ONLY when the Brexit Vote occurred and when Trump took out Hillary (in the election and during the inauguration).
We have scores of reasons to see the precious metals explode in price over these past several years yet nothing seems to break away the power of paper over the real, but it will happen, and when no one is looking. My little corner of the world is proving the point that people are no longer paying attention to the barometer that has told the planets population over the centuries that there is a problem in fiat. The people have walked away from the commodity trading, why? Because it is central to the central controllers that do control with paper. Their folly is in the numbers and they are running out of the bottom line in their paper game, the physicals! Hell! Look at what is happening right now in Corn and Wheat Country! Floods are everywhere, delayed plantings, with still no way to grow wheat, corn, soybeans underwater, and the prices are not moving. They won’t tell us when they are out, it will simply just show up as a Commodity price jump that won’t stop rising, even when the altitude is causing a nose bleed like the South American emerging currencies when Gold rallied Millions of percentages.
Keep the faith, after all mathematics is all about the solution. Paper can control prices for a time, until refining and manufacturing costs blow out inventory, and we “May”be there right now. Keep that in mind, it is a positive thought for our attitudes, especially if you are already holding onto the physicals, it helps one …
Stay Strong!
J. Johnson
