Great and Wonderful Tuesday Morning Folks,
October 1st greets us with a positive price for the precious metals with Gold trading at $1,473.90, up $1 after reaching up to $1,480.90 with the low at $1,465.00. Silver is leading the trade at $17.16, up 16.2 cents and close to its high of $17.185 with the low at $16.940. The currency that’s keeping it all together is the US Dollar, with its value pegged at 99.10, up 7.9 points after reaching up to 99.235 with the low that is too high at 99.030. All of this was done before 5 am pst, the Comex open, and the London close.
In Venezuela Gold is now priced at 14,720.58 Bolivar, still losing value as their currency strengthens with Silver priced at 171.386 Bolivar showing a reduction of 0.699 in value. Argentina’s Peso now has Gold priced at 84,878.04 showing a 521.40 Peso reduction with Silver at 988.124, proving a gain of 0.462 in A-Peso value. The Turkish Lira now prices Gold at 8,382.94 shaving off 28.28 T-Lira with Silver at 97.6052 gaining 0.3333 Lira’s.
October Silver Deliveries now show the demand count at 1,064 fully paid for contracts waiting for receipts proving a reduction of 109 obligations during yesterday’s trade and with a Volume of 2 up on the board so far this morning with a trading range between $16.96 and $16.925 with the last trade the high so far. Silver’s Total Open Interest drives the direction with the count now at 213,367 Overnighters showing a reduction of 5,465 from yesterday’s early morning count which may be proving some of the paper longs exiting but with the way things are these days who really knows?
Japan has issues in the overnight with this post stating "It’s Almost Impossible To Buy": Japanese Bond Crash, Margin Call Send Shockwaves Around The Globe. While this sudden flash crash occurred in the lands of the Rising Sun, Credit Suisse COO quits his job over a spying scandal and then the spy suicides himself. There’s something for the insurance companies to consider as things look a little dicey for bankers these days. To add to the fray, Hong Kong has live video feed on its rioters after one was shot in the chest as the unrest escalates.
We’ll remain Resolute about holding precious metals. With the way things are these days, I cannot fathom a better place for one’s financial safety than holding onto Silver and Gold, while the world seems to be on the verge of change. So hold on tight to what’s real, keep a positive thought in the head, and a smile on your face no matter what, and as always …