We Have a Wonderful Weekend of Positive Price Recovery!
Great and Wonderful Monday Morning Folks,
We start the week off with a higher price in Gold with the trade at $1,322.20, up $11.10 and right beside the high at $1,323.30 with the low at $1,310.90. Silver is up as well with its price at $14.785, up 13.9 cents and right beside its high at $14.79 with the low at $14.64. The US Dollar is trading lower with its value pegged at 97.56, down 10.6 points after dipping to 97.495 before the recovery with the high at 97.72. All of this was done way before 5 am pst, the Comex Open, and the London close.
The Venezuelan Bolivar now has Gold priced at 13,205.47, regaining 200.75 Bolivar with Silver now valued at 147.665 regaining 2.996 Bolivar. Gold priced under the Argentine Peso is now trading at 59,193.61, regaining a whopping 1,174.74 A-Pesos in value with Silver whopping out a 16.545 A-Peso gain at 661.911 Pesos. Turkey’s Lira now has Gold priced at 7,771.66 regaining 145.06 Lira with Silver now priced at 87.0230 regaining 2.2006 T-Lira, all in a wonderful weekend of positive price recovery, that is, in the emerging markets for now, soon it to will be hitting the primaries and much harder. Remember Gold contracts are 100 troy ounces, Silver has 5,000 in its contract.
June Silver’s Delivery system is in full swing with the demands for physical now at 50 contracts and with Zero Volume up on the board so far this morning. This is a drop of some 203 demands for physical with Harvey’s numbers showing 45 of these orders being delivered receipts so far. Silver’s Overall Open Interest is still showing elevated numbers which IS the only play left the central planners have to control the prices. The reduction is a little more than 1% as we are forced to wait for more data that should be “live” but instead is “delayed” with the Overall Count now at 210,262 Overnighters, losing only 2,589 obligations during Friday’s 12 cent gain. With the Longs sticking to their positions since the Trump presidential win, things should really start to turn higher, especially since we have our 45 in London, asking questions, including Julian Assange’s health, since he (supposedly) won’t be charged over the CIA leak.
Germany didn’t have a good weekend as "The Coalition Has Come To An End": Merkel's Government On Verge Of Collapse After SPD Chief Resigns and at the same time Deutsche Bank’s shares are down to a new RECORD LOW of 5.81 Euros or 4.58% for the day. Of course we also have up on the board this week a conversation not to the liking of the British government with our president wanting to know more about MI5 & 6’s intrusions into our election process and for how long?
All this commotion should be sending the precious metals much higher than they are right now, but the shorts have the field, till the promise of cheap Silver and Gold, fails to deliver. And we are getting closer and closer to that day, so hang onto the real, keep a positive thought in the brain basket, and as always …
Stay Strong!
J. Johnson