Great and Wonderful last day of June Folks,
They can’t keep a good precious metal down with Gold continuing to be purchased with the trade now at $1,416.90, up $4.80 after going as far as $1,427.80 before the shorts added their positions with the low at $1,411.30. Silver is still “red heading” all the punishment they can dish with the trade at $15.285, down 9/10ths of a penny and at the low of $15.26 with the high to beat at $15.385. The US Dollar has stabilized these past few days with its value pegged at 95.685, down 5.7 points right smack in the middle of its range between 95.795 and 95.585. All of this was done while we sleep, before 5 am pst, the Comex open, and the London close.
Venezuela’s Bolivar now has Gold priced at 14,151.29 showing a gain of 83.90 Bolivar, an 8.47% return so far this year with Silver at 152.659 proving a gain of 1.049 in the overnight and only a 3.63% return so far this year as well. Argentina’s currency, the Peso, now has Gold priced at 60,500.01, gaining 387.81 A-Peso’s, a 25.20% return so far this year with Silver now priced at 652.648 giving them a 4.827 A-Peso rise, and only an 11.34% return so far this year as well. Turkey’s Lira, another currency that went into overprint this year, now has Gold pegged at 8,179.83, giving the people a 48.93 T-Lira gain plus giving the noble metal a 19.25% climb this year with Silver now at 88.2486 gaining .6242 and giving us a 4.39% return so far this year. All the pressure that can be applied to Silver is being done, how much longer is the only question left unanswered.
Today is the First Notice Day for the July deliveries and Silver’s Physical Demands are showing a post of 3,873 demands for physical proving a drop in count of 11,024 and with a Volume of 482 up on the board so far this morning. Monday will have the real deliverable count as the jostling goes on between the buyers and the sellers with Silver’s Overall Open Interest continuing to lose the “short” weight with the count now at 219,892 Overnighters proving a loss of 3,619 during the entire day when we saw the markets not move at all. Case in point, after yesterday’s write up, Silver traded around 2 cents above the quote with Gold trading around $4 higher, screaming calmness as the G20 gets ready meet this weekend.
Last night’s debates were again, hard to watch. In short, Trump already won as the whole crew of 20 (over the past 2 days) repeated the same bylines that the media has been using, which by the way, has caused giant declines in viewership and ad revenues, but still they press on. “God bless their little hearts”, I’m beginning to wonder if they are intentionally trying to kill their party completely. And what ever happened to the American Flag as a background? What’s a matter with these people? Being ashamed of your country will not get you into an elected seat. I sure wish they’d stir it up a bit, in fact, I would love to see the Democrats having a debate on Fox News, and the Republicans have a debate on CNN. Now that would be quite revealing don’t you think? I hate these softball questions, they give us nothing of value.
June is just about over bringing in the second half of the year. Tomorrow is the start of the G20 meeting with a “2 thumbs up”- Munchin and a “clasping” - Powell sitting side by side at the table with a completely reversed Treasury Sector here at home. We have plenty to see and nothing to worry about. That is if you are holding most of your wealth in physicals and out of the system of failing banks. Have a great weekend, hold on tight to that positive attitude no matter what, and as always …