FOMC Unleashed Vs. The Resolute(s) Day!
Happy Hump Day Morning Folks,
Gold is trading higher with its value at $1,443.50, up $1.70 inside a tight trading range between the high at $1,445.40 and a low at $1,440.00. Silver is attempting to signal with its trade at $16.47, down 8.3 cents and close to the low at $16.465 with the high to beat at $16.60. The US Dollar is still holding in there with its value pegged at 97.84 up 3.1 points and close to its high at 97.885 with the low to beat at 97.755. All of this was done before 5 am pst, the Comex open, and the London close.
It looks like all the commotions in currencies are within the emerging markets as we observe Gold’s value under the Venezuelan Bolivar now priced at 14,416.96 putting forth a gain of 18.98 with Silver now valued at 164.494 losing .20 of a Bolivar. Gold in Argentina is now priced at 63,355.08 proving a gain of 261.76 A-Pesos with Silver now at 722.920 providing a gain of 1.257 Pesos. Gold under the Turkish Lira continues lower with its value now at 7,977.07 dropping another 36.61 T-Lira with Silver down .6579 with its price now at 91.0311.
Today we start the August Delivery cycle for Silver with the delivery count totaling 1,062 requests and with a Volume of 47 up on the board in the early morning inside a trading range between $16.51 and $16.46 with the last trade being the low so far. This is an increase in physical demands of 57 more 5,000 Ounce contracts on our August “First Notice Day” (even though it’s July 31st). The shorts keep piling on with Silver’s Overall Open Interest now totaling 239,266 Overnighters keeping Silver from rising any higher (until?). At the same time they seem to be attempting to rise up and surpass the record breaking OI high at 244,196 Obligations meaning we’re only 4,930 held contracts away from breaking that all time papered high! Go Team Fiat Failure! Team Failure may need a much larger short quantity than the last time just to keep Silver from doing something positive on the FOMC Unleashed Vs. The Resolute(s) day.
Not only do we have the FOMC broadcast from “on high” regarding an interest rate drop or not, we also have the Q post 3565 released last night for today’s announcements at the podium; “Transcripts are out tomorrow. The first demonstrable proof to show that not only did we not collude, but the whole world was against us and Donald Trump still won in 2016! When it’s all said and done, the story will be of a global effort to take us down that backfired big time!”. It is rumored that Papadopoulos is on his way to retrieve that $10,000 bribe he was supposedly given in a foreign country (or is it more evidence?). Not certain how this will unfold but the idea is this will lead most open minded people to the same conclusion that our “deep state actors” were working with foreign agents in order to remove a legally elected and standing president. If this is real and accurate we have a “Hang by the Neck until you are dead Treason” accusation. Granted, I am all about law and order, and I want to see some in court. After 3 years, we know who the perps are, we just need more confirmations regarding the accusations, then convictions in a publicly held military tribunal. Sure looks like we’re going to get it huh? Let us pray!
Still the best thing in the world is to have physical Silver and Gold. It is the real money of all mankind since the great flood, and every day after. So hang on tight to the real, enjoy the moment, and keep a smile on face you’re, and a happy thought in the head no matter what, and as always …
Stay Strong!
J. Johnson