Great and Wonderful Monday Morning Folks,
Gold is still winning with the trade adding 50 cents to the price (it’s all good when it goes up) with the trade at $1,432.70, with the high to beat at $1,437.00 and the low close by at $1,430.20. Silver is leading with the trade at $16.42, up 2.3 cents with the high at $16.49 and the low at $16.36. Maybe I should be saying the Dollar is leading us higher this time with its trade at 97.845, up 9.4 points close to the high at 97.87 with the low at 97.64. All of this activity had to happen before 5 am pst, the Comex open, and the London close.
So far this morning in the emerging markets we see no gains at all with the Venezuelan Bolivar pricing Gold at 14,309.09 giving us a 3 Bolivar drop with Silver at 163.995 Bolivar proving a loss of .999 in Bolivar value. Argentina’s Peso now has Gold valued at 62,000.25 giving us a drop of 99.52 A-Pesos with Silver pegged at 710.560 proving a loss of 5.333 A-Pesos. Over in Turkey Gold is priced at 8,067.76 T-Lira, a drop of 7.01 with Silver at 92.4617 it too losing .6153 in T-Lira value.
Today is the last day for July Silver deliveries with the count now showing 22 contracts still waiting for receipts for physicals and with a Volume of 1 up on the board so far this morning. However, we still have no price to attach to this one lone Volume, but we do know the closing price for Friday’s physical delivery and that is $16.325 with the OI count drop of 55. Today’s question; is the buyer going to mess up the delivery numbers again by adding more requests to buy? The next months (August) delivery count for Silver, shows an Open Interest of 1,096 and with a volume of 33 up on the board so far with Wednesday being the First Notice Day for the month’s count.
Silver’s Overall Open Interest gained 27 Obligations from Friday morning’s early gauge with the count now at 235,182 Overnighters keeping things steady. It does seem the Resolutes are still holding strong and refuse to budge. The change has occurred alright and the low from the last days of May seem to be the turning point. We now seem to be fighting thru the high prices created in the beginning of this year. We’ve broken above and below this price level since July 19, 2019. This is also a very strong point of resistance which took the entire year of 2017 to break thru on the down side in any meaningful way. This gives those that think “all charts matter” in a manipulated market something else to look forward too, that something else is around $17.47 where the resistance may be met. For now, we watch the physical deliveries. Once the central planners lose at the point of delivery, up, up, and away!
Boris Johnson Throws Down The Gauntlet, in miffed fashion with the claims from this writer that “….He (Boris) also said the Government was “turbocharging” preparations for a no-deal break on.” Anyone that thinks the centrals were not planning all along these past few years should recheck that thought. Planning and scheming against the general public is what they do best.
One this side of the Atlantic, “Q” gave the warning that Dan Coates was being forced out with today proving that Q is posting real news that the media has no choice but to post as well. Q has truly damaged the media’s fake truth pedaling scheme involving deep state actors as Q also posted another retweet from Trumps Tweeties reminding us the final targets are those who chose to break laws instead of upholding them. “Treason” is the word that has been used by both sides, however, one side cannot get any of their facts to be used in court. When a judge and jury finally hears their evidence, it’s truly lacking any factual substance, only emotional garbage. If this isn’t enough calm for you then we should look into the markets, then we get to see China bailing out of another bank with 100 Billion in assets that should calm you down even more. What can go wrong when all centrals are in trouble?
Nothing at all, that is if one holds precious metals, while all this activity in the governments and markets have been stymied into non-movements (for now). Things are changing and it does seem to be moving faster and faster in the direction we’ve knew it would go. All one has to do is keep their precious metals in their hands away from everything, and with a positive attitude in the head no matter what. So keep it all together, and as always …