Great and Wonderful Thursday Morning Folks,
It may be a bad day for all swamp critters but not for Gold with the trade now at $1,430.90, up $7.30 and close to the high at $1,433.50 with the low at $1,421.80. Silver, The Drag A Long Kid, is flat at $16.625, down 1/10th of a penny after taking a hit down to $16.46 with the high close by at $16.655. The US Dollar is still holding its value, even after the Mueller Hearing with the trade at 97.345, down 11.7 points with the low at 97.29 and the high at 97.525. All this was done sometime before 5 am pst, the Comex open, and the London close.
Our Emerging Markets Currency watch has a mixed bag of gains and loses all over the board today. The Venezuelan Bolivar has Gold priced at 14,291.11, down by 41.94 Bolivar in the overnight with Silver now pegged at 166.042, adding .549 Bolivar. In Argentina, Gold is priced at 61,281.82 proving a gain of 91.0 in A-Peso value with Silver at 712.070, a gain of 59.37 A-Pesos. Over in the land of Turkey, Gold lost 30.22 Lira’s with the price at 8,138.79, Silver’s trade is at 94.5357 proving a loss of .3052 in T-Lira value.
July Silver’s Delivery Demands now show 113 requests for physical and with a volume of 10 up on the board so far this morning and yet, we still do not have a trading range to offer up but those bracketed numbers are still jiving the trade. The closing price for the delivery month remains at $16.554 so far, proving it gained 14.9 cents during yesterday’s trade. As a reminder, this used to be called the cash price, not Kitco’s, we still consider the Comex delivery price the real cash market. The July physical demand count lost 43 requests, either getting their physicals here or having their paper transferred over to the trusting City of London (cough). Silver’s Overall Open Interest continues to climb as the Financial Swamp Critters carry on convincing themselves they still have control with the Overall Count now at 236,505 Overnighters proving 1,530 additional shorts had to be applied in order to stay the price. The big contender in all of this is still those Resolute Long’s. They seem to be the ones with the deep pockets and the need for physical. Could it be a few manufacturers?
What a day yesterday turned out to be for those demanding the investigators get investigated. Team Mueller really took it hard when a Republican identified the lawyer sitting next to Mueller who actually destroyed one of Hillary’s electronic devices that was supposed to be held after she was instructed to save all emails and electronic devices. That was a broadside they were not prepared for. There were many others hits done as well but this one stayed in the head even this early in the morning. To those that didn’t live thru the Watergate hearings, this one is by far bigger and broader in scope because there is a trail that could lead to a point that some of the initials (FBI/CIA) money may have been used in the purchase of Steele Dossier. If that link is proven, then we have government money being used to divert an election with an entire democratically controlled group involved in this one sided investigation. On top of this, Epstein was found in a fetal position in his prison cell unconscious. Maybe he freaked when he was given kiss late at night, who knows? Why is this important? 15 phone numbers in Epstein’s little black book all leading directly to the Clinton's (both). Uncomfortable? Try being on the side that has never trusted the Clinton's or the Bush crime families all these years.
Still to date, there is no safer place to keep ones hard earned working capital then in precious metals, and some cash in the markets that involve some hard working miners, and if one is real crazy, commodities. So keep it real, have a positive attitude no matter what, and as always …