The Precious Metals Mystery in Deliveries has new chapter in the Book of Bullshit

in investing •  2 months ago  (edited)

 Great and Wonderful Hump Day Morning Folks,    

      This early morning positive report shows Gold trading higher, adding $2.30 to the closing price, at $1,297.60 (June) after reaching to $1,299 with a low at $1,294.50. So far, only 70,650 contracts traded while London was labeled as being open with the Open Interest at 326,122 (June). The Volume will gain huge amounts all the while Comex is open and the movement in price stays the same. At least everyone in the scheme is getting paid including the governing bodies who are supposed to protect us as they too get algo generated commissions, profiting those who can trade within a few pennies daily using tens of thousands of positions which are used against the individuals and corporations that use this system to find real pricings. Silver is following the leader with its trade up only 3.9 cents at $15.10 with the high to beat at $15.16 and a low at $15.07. The Dollar’s rally seems to be taking a breather with it price pegged at 96.61, down 31.3 points and closer to the low at 96.525 with the high at 96.89, all this was done way before 5 am pst and the Comex Sleep. The Venezuelan Bolivar sure has been going thru some sort of correction with Gold now at 12,959.78, gaining back all of yesterday’s fall and some of Mondays as well proving a gain of 38.95 Bolivar overnight with Silver gaining 1.048 Bolivar at 150.811.     

      It looks like the precious metals mystery in deliveries has another chapter in the book of bullshit as Harvey O still cannot get the data we’re all supposed to get from the exchanges pointing to the EFP’s going to London and our own Comex physically traded Silver on the exchange; 

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     April Silver delivery requests now stand at 97 contracts waiting for receipts with Zero Volume up on the board so far this morning. This is a drop of 100 receipts for physical with nothing more to show (delivered here or London) till Harvey gets his numbers. The Overall Open Interest in Silver gained another 108 overnighters totaling 199,664 Obligations during yesterday’s pump and dumped (Volume) numbers while the prices stayed in place. We expect today to be no different with the Volume in May Silver now at 24,277 under the Open Interest of 129,150. The Volume will go sharply higher but the prices remain unchanged. This is the issue blinding the natural price movements within the markets that used to give us real buys and real sells from speculators and investors, until the algos came in, and were governed incorrectly against everyone else.     

      Venezuela, Brexit, Turkey, the EU and it’s failing currency, and all the other issues we write about, are all kept under lock and key called the markets. The markets have this thing called Algo trading that has taken over all price discoveries. In fact, this topic has kept even the discussion of those retired baby boomers who’s savings are being removed from the markets, yet someone is able to continue to buy, buy, buy, as the baby boomers remove, remove, remove, more of their money to offset rising prices and their retirements. How many years has this removal been going on? There is no more give and take in market prices if no one if trading but the Algos. And still, few see this is a problem.       

      It is these issues that keep us in place in physical silver and gold. Currencies are failing, countries have been rioting, and a government has chosen to ignore its people’s popular vote. Then the Algos came in and have made everything so out of whack, the correction of a lifetime will be far more amazing than that of yesterday’s crypto rally that may have only just started to force out the leveraged short traders as these exchanges try to verify the physical demands over the leveraged. What can go wrong? Enjoy your day! Keep a smile on your face and a positive attitude in your head, and as always …   

Stay Strong! 

J. Johnson  

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