Resolute Longs are Still Holding the Trade!
Great and Wonderful Hump Day Morning Folks,
After 2 days of attempted Resolute Long Liquidation (in Ag), which has failed so far, Gold is still gaining ground with its trade at $1,339.40 gaining $8.20 after reaching as high as $1,342.30 with the starting point being the low at $1,329.80. Silver, the tag along kid, is still being dragged on a leash with its trade at $14.775, up only 3.5 cents after reaching up to $14.86 before more shorts were added as we see the attempt to make another British low as they try to send Silver below the low of $14.71, close to last night’s restarting point. The US Dollar, the fiat everything is gauged under, is showing a current trade at 96.72, up 7.5 points and close to the high of 96.735 after the low was reached at 96.545.
Gold, under the Venezuelan Bolivar is now trading at 13,377.26, jumping up 156.81 Bolivar in the overnight with Silver now at 147.565, it too being dragged by the leash and only gaining 1.348 Bolivar. Gold under the Argentine Peso is now gauged at 59,849.98 regaining more than double from yesterday’s quote with Silver now at 660.252 gaining 3.348 A-Pesos as the Ag trade leads Gold under this currency. The Turkish Lira has Gold pegged at 7,758.43 Lira, tripling more than yesterday’s loss with Silver now priced at 85.5773, only rising some .445 in T-Lira value.
June Silver’s Delivery is still showing a liquidation as another receipt is handed out with the Open Interest now at 2 proving a single receipt was given to a lone buyer as we wait for the big buyer to step in again with Silver trading 30 cents lower than the last purchase made last week. Once again our Resolute Longs keep adding more positions as the shorts do the same with the Overall Count now at 226,178 Overnighters, proving another 4,298 more shorts had to be added in order to apply liquidity to a system running out of product at these super sale prices. All the shorts need to do to prove things are at the point of contention, is to add the additional 16,822 contracts and we’ll be right back where we were when Trump took out Hillary and Britain tried to leave the European Union, the first time. All the buyer has to do is keep buying the physicals and we’ll see the checkmate as prices swing wildly higher in order to shake lose some sellers. With the way Silver traders have been treated these past 8 years, sellers of physical may be hard to find.
While the whole world’s financial activities have slowed to a crawl, most of the world’s central banks are on negative rates and it seems the USA wants the same as global interest rates remain subdued because the velocity of money is skidding at the bottom of the barrel and no nation seems to have any answer other than the BIS Tier One Silver and Gold. The fact is, it’s so bad the Velocity of Money has not been this low since “before” 1959. Thank God the velocity of money doesn’t matter anymore, if it did, boy there’d be trouble for those that are short precious metals.
News, conservative views, and market opinion, are all being stymied unless it is what the controllers of the internet want everyone to see and believe. Media is losing viewers at an alarming level which breaks down to the point that no one believes anything coming from the mind numbing Cyclops and the programs it puts into the heads of the viewer. Now we have internet algo programs doing the same, stymieing everything they don’t want you to know, like the Velocity of Money and other points of evidence showing the economies are brain damaged, but still have a heartbeat.
Still we see no reason to trust what is being pimped out there via the Cyclops and the Internet Algos because the controllers have gone mad and need to be removed. Everyone sees it, everyone know it, and these Algos also control our markets, until that last bar of Silver and Gold are left to fight for. These Resolute Longs are here for a reason, it maybe for manufacturing purposes or electronics, regardless, the prices are super cheap, and less and less is coming out of the ground. What can go wrong? Nothing, that is, if you have physical Silver and Gold in hand and a positive attitude in the head. So keep it all together, and you too will be able to …
Stay Strong!
J. Johnson