J. Johnson’s Latest – The CFTC is Major Rat Member!
July 2, 2019
Great and Wonderful Tuesday Morning Folks
The pullback in Gold seems to be a “failed one day wonder” as the Nobel metal has completely reversed and is now $6.70 higher than the Comex close, at $1,396.10 and close to the high of $1,397.30 with the low at $1,386.20. Silver is flat at $15.195, up 2/10ths of a penny after reaching as high as $15.24 with the low at $15.16, barely an 8 cent move after the attempted beating applied since Sunday nights starting trade. The US Dollar, which all banks seem to be supporting in order to weaken their currencies, is now trading at 96.30, down 10.9 points after dipping down to 96.185 and after the high of 96.455 was reached as well. This was done after yesterday’s US Dollar’s rally which sent the Dollar up 74.3 points, and for no reason. All of this was done while we slept, before 5 am pst, the Comex open, and the closing bell in London.
Venezuela’s Currency, the Bolivar, has been beaten to a pulp these past few years but is still in use and now has Gold priced 13,943.55 Bolivar, proving a gain of 8.99 in the overnight with Silver now trading at 151.760 Bolivar, losing 1.348 taking away all of Monday’s gains and a bit more as well. Argentina’s Peso has Gold priced at 59,113.44 showing an additional loss of 413.65 A-Pesos with Silver at 643.423 dropping off a whopping 7.721 A-Pesos in the overnight. Turkey’s Lira, now has Gold gamed at 7,904.22 Lira, showing an increase of 4.90 in the overnight with Silver at 86.0180, proving a loss of 0.781 T-Liras, as the emerging market currencies continue the attempt to pound out a weaker value in precious metals, a game these short traders know will be lost soon enough.
The July Deliveries in Silver are now showing a demand count of 951 fully paid for contracts seeking physical and with a Volume of 71 up on the board so far today inside a 4 cent trading range between $15.14 and $15.10. This proves a receipt count drop of 459 demands for physical either getting delivered or were dropped off during yesterday’s attempt to weaken those Resolute Longs. Silver’s Overall Open Interest is where we see the most glaring issue out there, the additional shorts that had to be added in order to attempt to scare these Resolutes, but they (our strong buyers) refuse all attempts to date with the total count now at 220,009 proving the addition of 2,509 more shorts in order to stay this price.