In The News Today

Posted at 10:23 AM (CST) by & filed under In The News.

When This Change Occurs, Watch Out Above!
May 7, 2019

Great and Wonderful Tuesday Morning Folks,   

      Our Tuesday morning start up shows us Britain’s complete disdain for the precious metals with Gold trading at $1,281.40, down $2.40 and as usual, right there were the low is at $1,281 with the high at $1,284.90 in what can only be called a super tight trading range for the oldest currency in the world. Silver, the money of the masses, is trading at its low at $14.82, down 10.7 cents with the high at $14.955. If it’s all about our Dollar boy are we in trouble with the value pegged at 97.325 up only 5.7 points with its high at 97.345 and the low of 97.135, all of this is done way before 5 am pst and our Comex open.     

      The Emerging market crisis that has fully engulfed a few nations now shows Gold priced under the Venezuelan Bolivar at 12,797.98, losing 6 Bolivar overnight with Silver at 148.015 Bolivar down .399. Argentina’s Peso Crisis now has the Nobel metal at 57,224.13, a gain of some 193.57 A-Peso overnight with Silver now at 661.830, gaining another .84 A-Peso’s from the previous days quote.     

      The May Silver delivery count carries on with the total demands now at 621 waiting for receipts and with a Volume of 34 up on the board so far this morning. Yesterday’s total volume reached 79 inside the 19.5 cent price swing between the high and the low helping to prove the point that everything after the spot month is used to circumvent real price discovery which is now reversed and controlled by the back months instead of the front months dictations. Suppression proof is all in the Open Interest with the totals now at 200,248 Overnighters as 2,054 obligations exited the trade. We believe the day will come when the central bank system will be forced to reduce the amount of paper it uses inside the entire Commodity Sector. Paper should never be allowed to direct the prices, buyers and sellers of the physicals should lead, not follow. When this change occurs … Watch Out Above!