European Central Bankers “Stay” The Rates
April 10, 2019
Good Hump Day Morning Folks,
Gold is flat to lower this morning with the trade at $1,307.60, down 70 cents and close to the low at $1,305.10 with the high at $1,309.30. Silver, which gave us the sell signal after yesterday’s Comex close, is trading at $15.23, up 1.9 cents yet closer to the high at $15.25 than the low at $15.115, making a mess of things since this signal has been used by algos ever since instant messages became the popular review for investigators. The US Dollar has been steadily heading lower but not enough to scare out the foreign buyers, who are sopping up as much American debt as they can in order to escape the failings of the Euro, with the Dollars trade at 96.525, down 8.6 points and right beside the low at 96.51 with the high at 96.695. All this was done sometime before 5 am pst and the Comex Open. In Venezuela, Gold’s early morning price is now at 13,059.66 Bolivar, gaining another 19.98 overnight with Silver at 152.110, losing 1/10th of a Bolivar.
April Silver’s delivery demands fell by one contract during yesterday’s trade. I watched the sale occur, priced at 15.26 (a buyer and seller agreed), yet Comex closed the April Contract at 15.168, a fake settling price at the exchange. This was a single contract traded, yet they are able to game the price lower offering 2 prices, one the real buy, the other, a fake settling price (not a traded price). This is when they use the back month’s trades to “calculate” the deliveries settling prices, in our opinion, it should be the other way around. As far as this morning totals, we show the Open Interest in April Deliveries of Silver at 16 contracts with a Volume of 4 up on the board so far today. Silver’s Overall Open Interest continues to climb higher and higher with the count now at 208,990 Overnighters. A gain of 2,145 Obligations added in order to stay the price bringing us, once again, closer to the life of contract highs in OI at the same time Silver is way below the average production costs.
Jim Sinclair’s Commentary
The latest from John Williams’ www.shadowstats.com
– PENDING DOWNTURN IN ECONOMIC EXPECTATIONS
– New Recession Should Be Timed from November/Fourth-Quarter 2018 Peak; Fourth-Quarter 2018 GDP Faces Still Further Downside Revision; First- and Second-Quarter 2019 Real GDP Quarterly Contractions Loom
– Current, Positive Economic Expectations Should Drop Sharply, Following Heavily Negative Economic Releases, April 16th to 25th, Leading Into the Initial First-Quarter 2019 GDP Estimate on April 26th
– Series Facing Near-Term Negative Catch-Up Reporting and/or Intensifying, Negative First-Quarter Trends Include: Retail Sales, Production, New Orders, Freight Activity, Home Sales, Construction and the Trade Deficit
“Bullet Edition No. 6”