In The News Today

Posted at 8:43 AM (CST) by & filed under In The News.

If You Can’t Take A Joke, Don’t Go To Britain!
April 12, 2019

What a way to start a Friday Folks!  

     The Good Morning report starts off with Gold trading higher after a day of forced shorts sending the noble metal sharply lower, only to see enough buying coming in sending Au to a high of $1,299.10 with the trade right now at $1,295.70, up $2.40 with a low at $1,294.30. Silver is leading the charge this morning after yesterday’s morality beating with the trade now at $14.97, up 10.3 cents with the high at $15.035 and a low at $14.90. The US Dollar has lost all of yesterday’s support with the trade now at 96.495, down 31.9 points just above the low of 96.425 with the high at 96.815. All this was done before 5 am pst and the Comex open. The emerging markets Venezuelan Currency now has Gold priced at 12,940.80 Bolivar showing an additional loss of 87.89 from yesterday’s beatings with Silver now at 149.513, a loss of .699 Bolivar.    

     April Silver’s Delivery demands sure got settled out during yesterday’s trade with the request count now at 1 contract waiting for physical proving a drop of 15 obligations and with Zero Volume up on the board so far this morning. With this kind of buying activity going on inside the delivery system one would suspect the short traders to lighten up the risk a bit but noooo! Instead, they added an additional 7,384 more short contracts to control (stay) the prices as we see the game reach its pinnacle as the total Open Interest in Silver is now at 220,355 Overnighters, yet Silver is now trading higher against the shorts …. Hmmm, with all this short pressure being applied keeping the prices (only) steady, one has to wonder how deep the pockets are of the buyers who are taking on the short trade at these cheap ass prices and at least 13 days away from the May Precious Metals Options Expirations.  

     Our eyes are on Britain this weekend with the supposed enforcers of western market law gathering at the “U.S., European Banking Union, and UK Officials Meet for Planned Coordination Exercise on Cross-Border Resolution Planning”. Such a fluffy name for a group that has already allowed the major banks to collude with one another till one got caught and ratted out the rest. We’re hoping some actual law enforcement may be finally applied, but these are political appointees, so we have to wait to see what they “don’t” do for now. Regardless of this gathering, the precious metals are bound to go higher because of all the international printing going on as it seems everyone has turned negative on economic growth.