J. Johnson’s Latest – It Does Seem “The Resolutes” Are Still Holding Strong and Refuse to Budge
July 29, 2019
Great and Wonderful Monday Morning Folks,
Gold is still winning with the trade adding 50 cents to the price (it’s all good when it goes up) with the trade at $1,432.70, with the high to beat at $1,437.00 and the low close by at $1,430.20. Silver is leading with the trade at $16.42, up 2.3 cents with the high at $16.49 and the low at $16.36. Maybe I should be saying the Dollar is leading us higher this time with its trade at 97.845, up 9.4 points close to the high at 97.87 with the low at 97.64. All of this activity had to happen before 5 am pst, the Comex open, and the London close.
So far this morning in the emerging markets we see no gains at all with the Venezuelan Bolivar pricing Gold at 14,309.09 giving us a 3 Bolivar drop with Silver at 163.995 Bolivar proving a loss of .999 in Bolivar value. Argentina’s Peso now has Gold valued at 62,000.25 giving us a drop of 99.52 A-Pesos with Silver pegged at 710.560 proving a loss of 5.333 A-Pesos. Over in Turkey Gold is priced at 8,067.76 T-Lira, a drop of 7.01 with Silver at 92.4617 it too losing .6153 in T-Lira value.
Today is the last day for July Silver deliveries with the count now showing 22 contracts still waiting for receipts for physicals and with a Volume of 1 up on the board so far this morning. However, we still have no price to attach to this one lone Volume, but we do know the closing price for Friday’s physical delivery and that is $16.325 with the OI count drop of 55. Today’s question; is the buyer going to mess up the delivery numbers again by adding more requests to buy? The next months (August) delivery count for Silver, shows an Open Interest of 1,096 and with a volume of 33 up on the board so far with Wednesday being the First Notice Day for the month’s count.