Great and Wonderful Tuesday Morning Folks,
Gold has been making newer highs during the overnight with the trade now at $1,537.70, up $20.50 after reaching up to $1,546.10 with the low at $1,520.80. Silver seems to be leading the charge with its trade at $17.42, up 34.9 cents with the high so far at $17.49 with the low down at $17.035. With moves like these in the precious metals one would suspect the Dollar to have fallen but alas, it sits at the centrals support table with its value still pegged at 97.215, up 1.7 points and close to its low at 97.165 with the high at 97.455. All of this activity happened before 5 am pst, the Comex open, and the London close.
Our Emerging Markets currency watch is nothing but spectacular for the precious metal bulls! Down south in Venezuela, the Bolivar now has Gold priced at 15,357.78 proving a 199.75 Bolivar gain with Silver adding 4.444 Bolivar with its trade at 173.982. In Argentina, the Peso now has Gold priced at 81,394.88 Peso’s giving the people under that currency a whopping 13,199.54 A-Peso jump in value with Silver doing the same gaining 153.29 A-Pesos with its price at 921.968. The Turkish Lira now has Gold pegged at 8,633.40 showing a gain of 212.37 T-Lira with Silver gaining 3.4636 Lira’s with the price at 97.8137. Yes, it is still our opinion that these price jumps will occur in the primaries as well.
August Silver’s Delivery requests gained some purchases during yesterday’s actions with the count now at 210 fully paid for 5,000 ounce contracts, representing a jump of 20 demands for physical and with an early morning trading range between $17.315 and $17.31 and with a Volume of 2 up on the board so far. Of note during yesterday’s trades the Volume in August was way above 100 by the closing of the day giving us the idea that large swaths of EFP’s are still traveling over to London or the buyer of physical is a real manufacturer needing product not only now, but in the future as well. Silver’s Overall Open Interest is proving the Shorts are exiting the manipulation with the count now at 233,043 Overnighter’s proving 5,751 positions have left the field of play while Silver barely moved. We still have more to go, but if the Resolute Longs have finally gauged the play and are successfully pushing out the shorts, we’ll see not only the price of Silver jump, but the OI will continue to fall, how high the price and how low the OI goes is now on the front burner. So far, the Resolute Longs in Silver have yet to blink!
The embarrassments’ in governance has reached another peak as we are learning more and more about the Epstein issues after a supposed attempted murder/suicide from last month became a success last week. Then the blame gamers aim at Trump once again because those at the facility are overworked and understaffed and they blame that on Trump not NYC and its group of elected officials. To think that there were NO camera’s working at the same time no officers where working simply cannot be believed, not even by the staunchest DNC supporter. In the meantime, many names are starting to come out of the Epstein Files, but the one I see that is directly linked to the US Treasury is that of Larry Summers, the man who created and never defined what the Strong Dollar Policy was/is.
Who else is going to be linked to this Pedo group that is involved with governing finance, rates, and the value of (global) currencies? We also have to look at MI-5 & 6, Israel, as well as quite a few others, that may have code names in Epstein’s Lolita Express black book that are linked to centrals in other nations. Fiat justitia ruat caelum! In the meantime, we’ll sit on our pile of precious metals and various investments, and wait for the truth to be told. Of note, we still do not know if this Silver buyer is a manufacturer or someone who understands money, what if it was both at the same time? Keep the attitudes positive no matter what, have a smile on your face, and as always …