Great and Wonderful Tuesday Morning Folks,
Gold is under British pressure this morning with the trade below the Maginot Line at $1,299.60, down $2.20 with the low at $1,296.60 and the high to beat at $1,304.20. Silver, however, is trading higher and at $14.80, close to the high at $14.825 with a low at $14.745. The US Dollar is still seeing some rather large support from all overseas trades with the value pegged at 97.125, up .005 after reaching 97.20 with the low at 97.075. All of this was done way before 5 am pst and the Comex open.
Our view of precious metals thru the eyes of a South American in Venezuela now shows Gold at 12,979.76, a huge gain of 148.82 Bolivar overnight with Silver at 147.815 regaining all that was lost yesterday and more. Argentina’s Peso now has Gold pegged at 58,647.33 regaining a ginormous 1,072.67 Peso’s in the overnight with Silver’s gain equaling 11.107 Pesos at the price of 667.841. A friendly reminder here is Gold trades in a 100 troy ounce contract and Silver at 5,000 within the commodity sector. This is done in order to make international trades equal in size. In short, these moves are huge and are going to happen in other currencies as they too, start to fail.
The May Silver Deliveries on the Comex now shows a demand of 307 contracts waiting for physical and with a Volume of 1 up on the board so far this morning. This count proves a drop of 16 contracts and with Harvey Organ’s late night data points, proving 13 out of these 16 got delivered as we wait for more demands to reduce the amount of physicals which in turn will either kill the Comex, or force prices higher till more product becomes available. Our proof of manipulation in Silver shows up in the Overall Open Interest and even with yesterday’s Gold price pop, the manipulators added 1,903 more Silver shorts in order to stay the price with the total Overnight Obligations now at 204,018 pieces of paper in a system that is now totally controlled by algos that do not have real price value in mind at all, it’s all about price suppression.
Almost everyone around the world is tired of the name Teresa May. In many ways, she is exactly like Hillary, with the most glaring point being she refuses to leave, even with all the proven evidence. It matters not that even her own nation’s majority is saying Time to go, Theresa May! It seems all she is trying to do is force an unwanted issue hiding behind the word “compromise” and claiming the other side refuses to cooperate when specifically it is her and the European Union handlers that are refusing to do so. It “May” be this is reason that Silver and Gold haven’t rallied yet. Britain has been taking over all the paper trades with the quiet and non-investigating help from the CFTC and those emergency EFP’s going to the city.
Yesterday’s full attention was on China/USA and the taxes or tariffs and its effects on the global economy. Last night Team Trump “Post(ed in) full detail the tariffs on the remaining $300 Billion In Chinese trade” with Goldman Sachs adding “over the weekend, (these tariffs) threatens to send inflation sharply higher and lead to another round of aggressive Chinese escalation, which would likely result in tumbling stocks.” Is not Goldman Sachs part of the “Working Group on Financial Markets” and are they not also investing their own money as well? It must be very very profitable to be deep inside the system that openly manipulates fiat money against the physicals. It seems the Working Group is being exposed more and more as US interest rates are being forcefully reversed.
This Algo game seems to be coming to an end here, or maybe we’re about to reach the popping point of an all Algo Bubble. We have Algos that control all prices, other Algos write up what is called “news”, then we have Algo’s that respond “lighting fast” to immediate news posts, than we have those “freedom of speech” restricting Algo’s that are written because of some soy boy child got offended. Each one these Algo systems has a design of control and it just might be that each “Designed Algo” is going against each other. What can go wrong when everything is so wonderfully controlled?
We can only hope that this all ends well, but we’re not counting on it. That’s why we’re holding onto physical Silver and Gold. We’re also not afraid to have a few positions in play as well as we wait to see what will be blamed on the rally of a lifetime. So keep your metals close, have a positive attitude in the head no matter what, and as always …