Happy Quad Witch Friday Folks,
Gold continues to lead the charge with the trade at $1,400.30, up $3.40 after reaching as high as $1,415.40 before the London Bop was applied just over 3 hours ago and after the high was reached with the low we’re recovering from at $1,386.10. September Silver is now the lead contract because the Open Interest is now the highest. I’ll be using that months pricings from this point forward, with the trade recovering after the shake out with the price now at $15.40, down 16.8 cents after being knocked down to $15.235 with the high to beat at $15.625. The US Dollar is not doing anything with the trade at 96.10, down 3.8 points with the high at 96.235 and the low at 95.995. All of this activity happened before 5 am pst, the Comex open, and the London close.
The Venezuelan Bolivar now has Gold priced at 13,985.50, adding an additional 142.82 Bolivar to its value with Silver now trading at 153.808 adding .649 Bolivar. Argentina’s Peso has Gold priced at 60,676.53 adding 608.66 A-Pesos with Silver trading at 667.285 Pesos, losing 2.963 A-Pesos during the overnight. Turkey’s Lira now has Gold priced at 8,132.22, adding an additional 251.52 in value with Silver gaining another 2.1329 in T-Lira value. A damn good week considering all we’ve been thru.
June Deliveries continue to confound as that Resolute Buyer (or whatever we can call this guy who can simply place receipts up without a price) added an additional 103 MORE demands for physical to the mix during yesterday’s trade bringing the total to 136 and with Zero Volume up on the board so far this morning. It looks like yesterday’s overall trade was about a few shorts exiting their positions of risk, with the total count now at 236,428 Overnighters proving a drop of 2,630 Obligations. Are the Resolutes Longs winning? Stay tooned!
Today is the Quad Witch, chock a block full of position squaring, as the central planners try to keep the ship from listing as the demands for physical start to really shake the system created to make people think “Silver and Gold – Bad”, “Paper and Debt – Good”! In fact, if we consider the entire global banking position as a single entity, every single nation has a fiat currency, and all these fiats trades against the real money. All of them trade against Silver and Gold. No wonder precious metals are considered the most manipulated market of the world. Silver and Gold are the links to the entire system. This Algo system sets the prices in support of the fake currency values and now the deliveries are destroying this practice, and right before our very eyes!
This week has been spectacular! Next week is coming fast with Tuesday’s Options expiration, the Last Trading Day for June Deliveries, and the start of the second biggest month (of the year) in precious metals deliveries. What could go wrong? Plenty, which is why we have been strongly suggesting everyone holds precious metals in hand. Because the system that was created to keep the precious metal prices down, has failed to stop the buyers of physical. Have a great weekend, keep the attitudes positive, and as always …
Stay Strong!
J. Johnson