Nothing Says Calm Like the Overall Open Interest in Silver

in #investing2 years ago (edited)

 Great and Wonderful Friday Morning Folks,    

      Gold is trading higher with the December contract at $1,511.00 up $6.30 and close to the high at $1,512.70 with the low at $1,503.40. Silver is the early morning leader with its Christmas price at $18.15, up 34.6 cents after reaching $18.185 with the low at $17.80. Just to show everyone how everything is “just fine” out there on the side of the printers, the US Dollar is trading higher as well with its value pegged at 97.445, up 4 points with the high close by at 97.49 with the low at 97.34. All of this occurred while we slept, before 5 am pst, the London close, and before Comex takes the prices sharply higher.    

      Our emerging markets currency watch sure turned the corner today with Venezuela’s Bolivar pricing Gold at 15,091.11 giving those that hold a 176.78 Bolivar jump in value with Silver’s price increase showing a 6.092 Bolivar gain with the price at 181.273 Bolivar. In Argentina, the Peso’s price for Gold is at 89,934.63 proving a 1,966.81 A-Peso gain with Silver now at 1,080.31 giving those that hold a 47.10 A-Peso gain (do the math here with a 5,000-ounce contract). In Turkey, Gold is now trading at 8,710.72, proving a gain of 83.65 in T-Lira value with Silver at 104.630 T-Lira proving a gain of 3.257 in T-Lira value.     

      What a delivery day yesterday was, even with no trading range or price given, the October Silver Deliveries demand count dropped 85 contracts proving receipts were given out, with no idea if they were sent to London or where delivered here. So far this morning there is still no trading range and no sellers taking the higher bids that are offered. My guess is these sellers are waiting for much cheaper prices before they dump their holdings. Nothing says calm like the Overall Open Interest in Silver as the total count increased another 3,447 contracts proving yesterday’s little rally would have been far more substantial had the centrals been restricted like they should be with the total OI count now at 218,580 Overnighters.     

      We’ll keep it short and sweet this morning, after all, the markets are speaking our language, so there’s no need to translate as we may be on the ride of a lifetime as the world realizes how fake everything behind a screen really is. One last stab at the fakery, President Trump is canceling some of the fake stream media news from being piped into federal agencies. Oddly enough CNN is not one of them being removed. Could it be that the administration wants to see the arrests from a CNN camera team within their own facilities? Also, of note, if you are not in the Golden Member of the site, you have a chance later today to hear the G. Edward Griffin’s interview that was held Wednesday. I’ve listened to it 2 times already and can only say WOWsers!     

      Please enjoy the days that life has given you, keep the precious metals you’ve purchased in your hands, and out of the markets. Keep a smile on your face and a positive attitude in your head no matter what, and as always …   

Stay Strong! 

J. Johnson     


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