Good Hump Day Morning Folks,
Gold is flat to lower this morning with the trade at $1,307.60, down 70 cents and close to the low at $1,305.10 with the high at $1,309.30. Silver, which gave us the sell signal after yesterday’s Comex close, is trading at $15.23, up 1.9 cents yet closer to the high at $15.25 than the low at $15.115, making a mess of things since this signal has been used by algos ever since instant messages became the popular review for investigators. The US Dollar has been steadily heading lower but not enough to scare out the foreign buyers, who are sopping up as much American debt as they can in order to escape the failings of the Euro, with the Dollars trade at 96.525, down 8.6 points and right beside the low at 96.51 with the high at 96.695. All this was done sometime before 5 am pst and the Comex Open. In Venezuela, Gold’s early morning price is now at 13,059.66 Bolivar, gaining another 19.98 overnight with Silver at 152.110, losing 1/10th of a Bolivar.
April Silver’s delivery demands fell by one contract during yesterday’s trade. I watched the sale occur, priced at 15.26 (a buyer and seller agreed), yet Comex closed the April Contract at 15.168, a fake settling price at the exchange. This was a single contract traded, yet they are able to game the price lower offering 2 prices, one the real buy, the other, a fake settling price (not a traded price). This is when they use the back month’s trades to “calculate” the deliveries settling prices, in our opinion, it should be the other way around. As far as this morning totals, we show the Open Interest in April Deliveries of Silver at 16 contracts with a Volume of 4 up on the board so far today. Silver’s Overall Open Interest continues to climb higher and higher with the count now at 208,990 Overnighters. A gain of 2,145 Obligations added in order to stay the price bringing us, once again, closer to the life of contract highs in OI at the same time Silver is way below the average production costs.
The failings within the European Union continue with the central banks too afraid to move as they stay their interest rates "at least through the end of 2019", as the printing wars escalate but are never called this. So far Japan, USA, and the EU, have stayed their rates, which means more print for everybody and in turn devaluing the currencies, which will eventually show up in all things needed to survive including precious metals. As the game is played to the end, Silver and Gold have no choice but to rally in price, exposing the Gibson’s Paradoxical thermometers redline rise.
We’ve identified for quite a while, the “divide and conquer news strategy” within the media. They report the banker’s wants with extreme clarity using all sorts of eloquent and misleading parlance to confuse almost everyone but never describes the real issues which can be read between their printed lines. This is where all outside authorities reside, they challenge the banker’s meanings but are never really allowed any sort of main stream media traction. This is why social media news services has become so popular. In a way, it is helping to identify the battle over control and the fact that Central Banks Are Driving Us Toward A Stagnant Global Zombie Economy, which many have argued we are already in!
Then we have Brexit, the other divide and conquer story, which everyone, and I do mean everyone, is sick and tired of hearing the elected British Bullshit coming for parliament as another MayDelayPlay is introduced. This makes us wonder if this story (Brexit) will the fable that is used to blame away the banks monopoly on the markets as their investments continue to need more and more created digits because deliveries are still happening, and the mining costs continue to climb, and so does the bankers debt sheets. The problem for the banks, is the physicals are being drained right from their hands, and if they wish to stay in play, they have to deliver, and at all costs!
Enjoy your day, keep the precious metals out of the markets, “stay” the positive attitudes no matter what, and as always …