In The News Today

Posted at 9:14 AM (CST) by & filed under In The News.

What Can Go Wrong When Everything Is So Wonderfully Controlled?
May 14, 2019

Great and Wonderful Tuesday Morning Folks,   

      Gold is under British pressure this morning with the trade below the Maginot Line at $1,299.60, down $2.20 with the low at $1,296.60 and the high to beat at $1,304.20. Silver, however, is trading higher and at $14.80, close to the high at $14.825 with a low at $14.745. The US Dollar is still seeing some rather large support from all overseas trades with the value pegged at 97.125, up .005 after reaching 97.20 with the low at 97.075. All of this was done way before 5 am pst and the Comex open.   

      Our view of precious metals thru the eyes of a South American in Venezuela now shows Gold at 12,979.76, a huge gain of 148.82 Bolivar overnight with Silver at 147.815 regaining all that was lost yesterday and more. Argentina’s Peso now has Gold pegged at 58,647.33 regaining a ginormous 1,072.67 Peso’s in the overnight with Silver’s gain equaling 11.107 Pesos at the price of 667.841. A friendly reminder here is Gold trades in a 100 troy ounce contract and Silver at 5,000 within the commodity sector. This is done in order to make international trades equal in size. In short, these moves are huge and are going to happen in other currencies as they too, start to fail.   

      The May Silver Deliveries on the Comex now shows a demand of 307 contracts waiting for physical and with a Volume of 1 up on the board so far this morning. This count proves a drop of 16 contracts and with Harvey Organ’s late night data points, proving 13 out of these 16 got delivered as we wait for more demands to reduce the amount of physicals which in turn will either kill the Comex, or force prices higher till more product becomes available. Our proof of manipulation in Silver shows up in the Overall Open Interest and even with yesterday’s Gold price pop, the manipulators added 1,903 more Silver shorts in order to stay the price with the total Overnight Obligations now at 204,018 pieces of paper in a system that is now totally controlled by algos that do not have real price value in mind at all, it’s all about price suppression.