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J. Johnson’s Latest – Mexico has a Wild Card in the Tariff Game – Silver
June 7, 2019

Good Friday Morning Folks,   

      Gold is trading lower this morning after a pretty good run with the price at $1,339.50, down $3.20 after it was pushed down to $1,334.30 with the high just above the now at $1,340.40. Silver is slightly lower as well with the price at $14.89, down 1.5 cents and right smack in the middle of its trading range between $14.94 and $14.84. The US Dollar is equally as flat, almost as if the Algos had no idea what today’s Unemployment report will say, with the trade at 97.035, up 3.8 points after reaching to 97.13 with the low at 96.96. All of this was done sometime before 5 am pst, the Comex Open, and the London Close.      

      Venezuela’s Bolivar price for Gold is now pegged at 13,378.26, taking off 16.98 Bolivar from yesterday’s price with Silver at 148.714, losing .599 of a Bolivar. Argentina’s Peso has Gold priced at 60,137.35, removing 77.06 of value with Silver losing 2.766 at 668.469 Pesos. The Turkish Lira is pricing Gold at 7,827.89 proving a gain of 81.38 T-Lira with Silver’s price at 87.0117 gaining .6743 in value.    

      June Silver’s Open Interest now shows a post of 5 with no evidence of a trade done during yesterday’s watch but somehow removing 45 contracts. So far today the Volume is still saying Zero, but with no trades reported during Comex, it’s hard to say what is going on. I was watching to see if another sizeable purchase would be agreed upon and did witness an order to purchase 78 more June Contracts at $14.885 but nothing shook the seller’s interest. Silver’s Overall Open Interest continues to grow proving the shorts have a problem and are the issue with the count now at 219,380 Overnighters, gaining another 2,953 more shorts in order to add liquidity against the physicals.