We Will Have A Plethora Of Fat Tail Calls In Silver And Gold!
April 22, 2019
Great and Wonderful Monday Morning Folks,
We start our morning off with Gold trading higher at $1,280, up $4 with the high at $1,281.90 and the low at $1,277.40. Silver is following along, when it should be leading, trading at $15.08 (July) with the high at $15.12 and the low at $15.05. The US Dollar seems to be skimming across the same amount of water with the value pegged at 97.005, down 14.6 points with the low at 96.985 and the high at 97.10. Of course all this was done while we sleep and way before the Comex open, and right before we all go back to sleep again. Our Venezuelan currency, in massive print mode, now has Gold priced at 12,784.00, a gain of 10.99 Bolivar over the weekend with Silver now pegged at 150.612, a humongous gain of 1.249 during the same time period. We will eventually have this type of rise in the precious metals under the primary currencies of the world, when that does happen, we will have a plethora of Fat Tail Calls in both Silver and Gold (Commodity Options) to discuss, and how the banks used these instruments to not only control the price, but how they were used to help clear all these overwhelming shorts that seem to bypass the keen eyes of the CFTC compliance departments, that are supposed to regulate the algomated short trade hedges.
The April delivery requests for Silver remain stagnated with the demand for physical at 1 with zero Volume up on the board so far this morning. Of note, the buyer is still there trying to acquire another 38 contracts at 14.99, we’ll see if a seller takes the price which may cause the sensation we’ve been waiting for, after all, the physical product seems to be harder to find since the price is below all refining and extraction costs. The rollover into the July Contracts during Thursday’s trade now exceeds May’s OI, pushing the Overall Open Interest to 221,040 as of this morning, gaining 952 Overnighters as we wait for more data to surface.
Another currency in massive print is the Argentine Peso, “the nation has been “printing money for the people” MMT-style for many years…” Thursday’s trade under this currency proved Gold at 53,450.76 Pesos. As of this morning the price rise shows a gain of 402.75 Pesos at 53,583.66. Silver was priced at 625.312 (Thursday morning) and has gained 5.226 proving the price at 630.538 Argentinian Pesos. Please understand that the deciders of this currency have yet to slice off 4 zeros from the decimal like they did in Venezuela. Also of note is the contractual size established in the international commodities industry; Gold contracts (and options control) 100 troy ounces and 5,000 ounces in Silver. Do the math yourself, you won’t believe it, unless you see it like we did in 2011.