Good Thursday Morning Folks,
The beatings in Gold carry on, but only because of the centrally planned manipulations ordained by those governing bodies that are supposed to protect us from market monopolies (not of their own creation) as the BS continues, with Gold down $11 at $1,273.20 with the low at $1,271.30 after starting at the high at $1,279.40. A big thank you is coming from the few COMEX buyers who see the only answer to the short game is to take away the manipulators ball during the COMEX play time (physical deliveries). Silver is faring better (for now) with the trade down only 4.4 cents at $14.685 with the low at $14.625 after the late night high of $14.72 started everything off. The US Dollar is barely moving even after yesterday’s wait and see report from the FOMC with the Dollars trade at 97.37, down 4 points with the low at 97.255 and the high at 97.435. Of course all this is done by foreign entities until our trading system kicks in and does nothing the rest of the day.
Venezuela’s violence between factions and the markets reactions are not working like they used to, or should, with Gold now priced at 12,716.09 dropping 109.86 in Bolivar value with Silver losing 2.248 Bolivar overnight with the price at 146.666. The Argentine Peso now has gold priced at 56,321.46, a 537.99 A-Peso loss with Silver being pushed down to 649.662, losing 10.425 Pesos overnight taking back some of those huge gains made last week when Silver went to 692.13. It seems the markets are saying Riots and Violence are bad for Silver and Gold pricings. WTF are Algos doing? Everything is literally backwards 1984 style.
The May Silver Delivery count now has a posting of 1,123 contracts waiting for receipts so they can either transfer the paper value to the city or take delivery here with a Volume of 716 up on the board so far this morning. Did someone actually take out 3,580,000 ounces of physical Silver for delivery today? That would explain why Silver is trading lower in a backwards thinking world of Algo trading. Our point over all these years is the markets are not functioning like they should. It seems physical demands are also bad for prices with no demand being good for prices (1984 again). Apparently the Ag Open Interest drop done on Tuesday was too much with yesterday’s activity proving 4,547 more contracts had to be added into the markets in order to control Silver with the Overall Open Interest now at 201,607 Overnighters on the FOMC day. We now have the Chilton Proof that the CFTC is not on the side of the masses who try to go against a centrally planned set of programs that inhibits all human emotion, in fact, they are promoting it from within since algos have replaced their revenue streams that used to come from real live traders.
The Yellow Jackets of France, the Brexit, the lunatic democrats who have to make shit up in order to get air time, the criminals in government who organize against the vote and markets, are still controlling things, for now. But we believe the buying of physicals is still one of the best ways a person can make it thru what we all know will happen. Our markets are going to get that human feeling again, when the Algo’s run into a situation they are not programmed for, such as an empty set of COMEX warehouses with the demands for physical continuing to pile higher, something the exchanges are required to meet, and at $14.50 an ounce. What can go wrong?
Patience and product is all we need, while we watch for physical deliveries to bust open the situation we are all in with the CFTC and COMEX criminals still running the system, for now. Enjoy your day, keep the smile on your face no matter what, and as always …