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J. Johnson’s Latest – Ag/Au Are Screaming Calmness As The G20 Meets
June 28, 2019

Great and Wonderful last day of June Folks,   

      They can’t keep a good precious metal down with Gold continuing to be purchased with the trade now at $1,416.90, up $4.80 after going as far as $1,427.80 before the shorts added their positions with the low at $1,411.30. Silver is still “red heading” all the punishment they can dish with the trade at $15.285, down 9/10ths of a penny and at the low of $15.26 with the high to beat at $15.385. The US Dollar has stabilized these past few days with its value pegged at 95.685, down 5.7 points right smack in the middle of its range between 95.795 and 95.585. All of this was done while we sleep, before 5 am pst, the Comex open, and the London close.

      Venezuela’s Bolivar now has Gold priced at 14,151.29 showing a gain of 83.90 Bolivar, an 8.47% return so far this year with Silver at 152.659 proving a gain of 1.049 in the overnight and only a 3.63% return so far this year as well. Argentina’s currency, the Peso, now has Gold priced at 60,500.01, gaining 387.81 A-Peso’s, a 25.20% return so far this year with Silver now priced at 652.648 giving them a 4.827 A-Peso rise, and only an 11.34% return so far this year as well. Turkey’s Lira, another currency that went into overprint this year, now has Gold pegged at 8,179.83, giving the people a 48.93 T-Lira gain plus giving the noble metal a 19.25% climb this year with Silver now at 88.2486 gaining .6242 and giving us a 4.39% return so far this year. All the pressure that can be applied to Silver is being done, how much longer is the only question left unanswered.   

      Today is the First Notice Day for the July deliveries and Silver’s Physical Demands are showing a post of 3,873 demands for physical proving a drop in count of 11,024 and with a Volume of 482 up on the board so far this morning. Monday will have the real deliverable count as the jostling goes on between the buyers and the sellers with Silver’s Overall Open Interest continuing to lose the “short” weight with the count now at 219,892 Overnighters proving a loss of 3,619 during the entire day when we saw the markets not move at all. Case in point, after yesterday’s write up, Silver traded around 2 cents above the quote with Gold trading around $4 higher, screaming calmness as the G20 gets ready meet this weekend.