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J. Johnson’s Latest – Yesterday Was A Bad Day For Swamp Critters But Not For Silver And Gold
July 25, 2019

Great and Wonderful Thursday Morning Folks,    

      It may be a bad day for all swamp critters but not for Gold with the trade now at $1,430.90, up $7.30 and close to the high at $1,433.50 with the low at $1,421.80. Silver, The Drag A Long Kid, is flat at $16.625, down 1/10th of a penny after taking a hit down to $16.46 with the high close by at $16.655. The US Dollar is still holding its value, even after the Mueller Hearing with the trade at 97.345, down 11.7 points with the low at 97.29 and the high at 97.525. All this was done sometime before 5 am pst, the Comex open, and the London close.   

      Our Emerging Markets Currency watch has a mixed bag of gains and loses all over the board today. The Venezuelan Bolivar has Gold priced at 14,291.11, down by 41.94 Bolivar in the overnight with Silver now pegged at 166.042, adding .549 Bolivar. In Argentina, Gold is priced at 61,281.82 proving a gain of 91.0 in A-Peso value with Silver at 712.070, a gain of 59.37 A-Pesos. Over in the land of Turkey, Gold lost 30.22 Lira’s with the price at 8,138.79, Silver’s trade is at 94.5357 proving a loss of .3052 in T-Lira value.     

      July Silver’s Delivery Demands now show 113 requests for physical and with a volume of 10 up on the board so far this morning and yet, we still do not have a trading range to offer up but those bracketed numbers are still jiving the trade. The closing price for the delivery month remains at $16.554 so far, proving it gained 14.9 cents during yesterday’s trade. As a reminder, this used to be called the cash price, not Kitco’s, we still consider the Comex delivery price the real cash market. The July physical demand count lost 43 requests, either getting their physicals here or having their paper transferred over to the trusting City of London (cough). Silver’s Overall Open Interest continues to climb as the Financial Swamp Critters carry on convincing themselves they still have control with the Overall Count now at 236,505 Overnighters proving 1,530 additional shorts had to be applied in order to stay the price. The big contender in all of this is still those Resolute Long’s. They seem to be the ones with the deep pockets and the need for physical. Could it be a few manufacturers?