Silver’s Resolute Longs Still Staying in Place

in investing •  3 months ago  (edited)

    Great and Wonderful Monday Morning Folks,    

      I trust you had a great weekend and still wondering what Monday’s trades would look like and today we know with Gold trading flat to lower with its current price at $1,426.60 down a dime inside a very tight trading range between $1,430.80 and $1,423. Silver is leading the charge with its trade at $16.41, up 21.5 cents and close to the high at $16.455 with the low at $16.195. The US Dollar is following the Silver rise (love stating that) with its trade at 96.93, up 11.3 points and it too is right beside its high at 96.95 with the low down at 96.785. All of this was done sometime between the Sunday night start up, before 5 am pst, the Comex open, and the London close.    

      We start the week in the emerging markets with Gold trading lower in 2 of the 3 watched currencies and Silver gaining in all of them. Gold in Venezuela, lost 120.85 Bolivar over the weekend with its price at 14,248.17 with Silver now at 163.895 proving a gain of .649 in Bolivar value. In Argentina, Gold is priced at 60,434.93 taking back 519.35 A-Pesos with Silver trading at 695.343 adding an additional 2.814 in A-Peso value. In Turkey, Gold is now priced under the Lira at 8,123.57 showing a gain of .60 with Silver now at 93.1701 giving the money of the people a .8757 T-Lira gain.     

      Comex Silvers delivery requests gained on Friday with the demands for physical now at 322 requests and with a Volume of 2 up on the board so far this morning. In addition, we have another one of those “No Trading Ranges” going on so far for this 2 Volume post. This proves a gain of 46 more demands as we wait to see how this Resolute Buyer(s) plays against the shorts. Silver’s Overall Open Interest proved a drop in count with 231,163 Overnighters still in the trade giving us a drop in count of 3,057 Obligations as the prices continue to rise because Silver’s Resolute Longs are still staying in place. The point of contention is in the Open Interest with these buyers keeping the word Resolute up front and center. I’m wondering if the shorts will make the attempt to run the numbers up to 250,000+ in order to see how the buyers will react. At the same time, the shorts have to be thinking their funeral may be at hand if they do try and fail. This brings up the thought of why all those July, September, and December Call options, were bought and held since Trump and the Brexit got voted in.    

      The Open Interest in Silver has stayed elevated above all the past life of contract highs except one and has been fully documented in the annals of the www.LeMetroPoleCafe.Com website with the help of Harvey Organ and others. Our history is in the making as we suggests the posts in Le Metro Pole should be reviewed by the DOJ and US Treasury as we go thru the events we’ve been waiting for. We are witnessing the complete drainage of product artificially suppressed in order to control the currencies made with bad math. So keep buying the precious metals while they are cheapened by the paper, get them in your hands as soon as possible, keep the attitudes positive no matter what, and as always ….    

Stay Strong 

J. Johnson  

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