The Only Thing Silver And Gold Are Waiting For, Is The Shorts To Get Stomped!
March 27, 2019
reat and Wonderful Tuesday Morning Folks,
Today we have Gold barely heading higher with the trade at $1,317.30, up $2.30 near the high at $1,318.80 with the low at $1,312.20. Silver is hardly higher with the trade at $15.43, up 1/10th of a penny with its high at $15.475 and the low at $15.345. The sleep time Comex wouldn’t be labeled as such if we saw any form of real movement proving our markets have more traders than algos, but alas, even the US Dollar refuses to move with its trade at 96.21, down 1.5 points and at the low of 96.19 with the high up at 96.47. Of course all of this was done way before 5 am pst and what used to be real live trading at the Comex.
The Venezuelan Currency Swap now shows Gold’s inflationary price at 13,156.53 gaining 47.94 Bolivar overnight with “still stuck” Silver at 154.107, unchanged from yesterday’s count. The Argentinian Peso now has Gold priced at 55,575.54, up over 146% from the beginning of 2018 with Silver at 658.14 up 122.72% under the same time period, helping to prove what the values of precious metals can do for the individual as the currency heads to zero. Also of note is the time structure here. This is a longer duration of time allowing us 2 views at the same time. One where the currency collapses quickly (Venezuela) and one under better control (Argentina). Under the US Dollar, our precious metals can go either way, fast or slow. Regardless, the outcome will be the same, much higher prices! Also of note, Argentina has yet to cut off some zeros from its currency’s back side. That’s an unused weapon so far which will be used in the future.
Jim Sinclair’s Commentary
Gold and the gold price win because of the unimaginable level of debt.
Countries must seek ECB approval to manage gold reserves: Draghi
March 28, 2019
FRANKFURT, March 28 (Reuters) – The European Central Bank needs to approve any operation in the foreign reserves of euro zone countries, including gold and large foreign currency holdings, the ECB’s President Mario Draghi said on Thursday.
“The ECB shall approve both the operations in foreign reserve assets remaining with the NCBs (national central banks)…and Member States’ transactions with their foreign exchange working balances above a certain threshold,” Draghi told two Italian members of the European Parliament.
“The purpose of this competence is to ensure consistency with the exchange rate and monetary policy of the Union.” (Reporting By Francesco Canepa)