J. Johnson’s Latest – The Future Pop in Silver’s Price Will Be Loud and Clear!
June 24, 2019
Great and Wonderful Monday Morning Folks,
After a nice weekend of wonder, we wake to see that the precious metals are still trading higher with Gold now priced at $1,414, up $13.90 after reaching up to $1,414.80 with the low at $1,403.60. Silver is still being dragged along like the spoiled and tired child we see at the grocery store with its trade at $15.465, up 9.5 cents after reaching up to $15.515 before being calmed down with the low at $15.385. The US Dollar is on its way to losing 200 points since last Tuesday with the trade now at 95.505, down 21.3 points and at the low of 95.500 with the high at 95.715. All of this of course was done after Sunday’s opening at 6 pm Est and right now, before 8 am Est, the Comex open, and the London close.
Venezuela’s Bolivar now has Gold priced at 14,122.33, gaining 136.83 since Friday’s quote with Silver adding .649 in Bolivar value priced at 154.457. Argentina’s Peso now has Gold priced at 60,505.00 taking back 171.53 from Friday with Silver now at 663.912 taking back 3.373 A-Pesos. Over in Europe, the Turkish Lira now has the noble metal gaining 66.93 with the price at 8,199.15 T-Lira with Silver pegged at 89.6587, losing 1.3828 in T-Lira value.
The June Silver’s Delivery period is just about over (this Wednesday) with tomorrow being the July Options expiration day with the June Count in Silver still at 102 obligations waiting for receipts and with Zero Volume up on the board so far this morning. The Overall Open Interest in Silver fell a bit on Friday proving a drop of 10,469 shorts getting out of the way with the total now at 228,589 Overnighters staying in play in order to keep Silver from doing far less than what Gold is doing. The buying pressure is building under Silver with the SGR (Silver/Gold Ratio) over 91 to 1. The future pop in Silver’s price will be loud and clear, after that last bar is confirmed to be removed.