All This Daily Activity is Simply a “Show of Distractions”
Great and Wonderful Friday Morning Folks,
Gold is still being hammered during London’s trading period; we think it’s to keep everyone’s mind off all the printing that’s going on that’s collapsing the value of the US Dollar (more to come later). Gold is now trading at $1,486.00, down $15 and right by the low at $1,485.30 with the far away high at $1,508.00. Silver is being brought to bear as well with its trade at $17.44, down 16.2 cents and right by its London low of $17.42 with the high at $17.785. Now we look at the US Dollar’s value with the trade at 98.015, down 39.6 points and recovering from a low of 97.92 with the high at 98.450. Of course, all this happened before 5 am pst, the Comex open, and the London close.
In Venezuela, Gold is now valued at 14,841.43 Bolivar proving a loss of 272.65 Bolivar with Silver at 174.182 dropping 3.546 in Bolivar value. Argentina’s Peso now has Gold valued at 86,060.89 showing a 1,316.55 A-Peso drop in value with Silver continuing lower at 1,009.90 reducing the money of the people’s value some 17.66 Pesos. Over in Turkey, where the problems are many, Gold’s trade under the Lira is now at 8,701.39 Lira taking out more than double yesterday’s gains proving a loss of 215.12 in value with Silver now at 102.106 T-Lira, showing a reduction of 2.743 Lira overnight.
October Silver Deliveries now show a demand count of 337 fully paid for contracts waiting for receipts and for some reason not getting them filled showing a reduction of 2 from yesterday’s tally and with a Volume of 2 up on the board yesterday. So, once again, is this part of a spread exit or where there 2 more purchases and 4 receipts getting delivered? As of this morning, we have another 2 lot on the Volume side of the ledger and with a trading range between $17.595 and $17.40 with the last price being the low so far.
Silver’s Overall Open Interest dropped some more with the total count now at 210,209 Overnighters, proving a drop of 2,351 more positions in trade. So, the overall count continues to slowly drop at the same time the game we’ve all been forced to observe continues until it can no longer do so. We’re not too concerned that the print of money is at full retard, showing the value of our currency dropping 1.29 basis points (percentage as well) since Oct 1st. But what might be of interest is Gold has remained solid price-wise and with a slight gain for Silver since the beginning of the month.
Monday is the day we start the new Yuan to Gold trade with the CMEGroup adding the Chinese Yuan price to Gold’s mini contracts alongside the US Dollar’s trade. I’m not sure why this is being allowed since we here in the United States use the US Dollar? The one question I have is; what’s to stop a Chinese citizen from selling his Gold in China and buying it over here and taking delivery, removing their wealth from the Chinese authority’s control mechanism? How about the reverse of that question or maybe instead of an individual, what about their government? With China being the other side of a whole list of unfair trading disputes with the USA, can this cross currency to a precious metal be used as a weapon? Can the president stop this from happening if China refuses to protect the creativity of our nations inventors and manufacturers, which they have had a free hand at stealing our ideas for oh so long now?
Here’s something I really enjoyed hearing during yesterday’s communicate, Trump's New Executive Orders To Restrain the Administrative State Federal agencies (that) evade the rulemaking process, yet still levy fines, revoke permits, and seize property via “guidance.” Not much is said about how far up the chain this will go, but with my optimism levels at a high, my question is; can we now go after the SEC and the CFTC for ignoring all the evidence that is being brought out against JPMorgan by the DOJ in not only manipulating our precious metals, but all the refiners and mining companies shares as well? I for one would love to see this happen, and will remain optimistic that truth and fairness will continue to move forward.
This is why we hold on tight to physical precious metals. The currencies are being hyper-printed at the same time the commotions behind the front-page BS is screaming massive problems within the banking sector. Can anyone say “Deutsche Bank is the problem” in the central’s upper levels? Hello!! Have a great weekend folks! All this daily activity is a simply a distracting show, until those that do not follow the money print finally see what we’ve been addressing for oh so long now. Keep the attitude positive, have a smile on your face no matter what! And as always …
Stay Strong!
J. Johnson