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J. Johnson’s Latest – The Rate Makers Vs. Silver and Gold’s Resolutes
July 30, 2019

Great and Wonderful Tuesday Morning Folks,     

      December Gold continues to gain with the trade at $1,441.60, up $8.30 and right close to the high at $1,442.50 with the low at $1,434.80. The Tag A Long Kid (Silver) is “bringing up the rear” with the September trade at $16.49, inside a tight range between $16.53 and $16.425. The US Dollar continues to gain as well as it seems European traders are starting to get more and more nervous about everything these days with the Dollar trade at 97.815, up 1.9 points with the high at 97.96 and the low close by at 97.800. All of this was done way before 5 am pst, the Comex open, the London close, and before the start of the FOMC meetings.    

      Our Emerging Markets currency watch is mixed with the Venezuelan Bolivar now showing the Nobel metal valued at 14,397.98, giving the first money of all mankind an 88.89 Bolivar jump in value with Silver gaining .699 Bolivar at 164.694. In Argentina, the Peso has Gold valued at 63,093.32 giving us a 1,093.07 A-Peso jump making this a WOW gain. Silver under the same currency received only a whoopee gain totaling 1.1103 in A-Peso value with the price at 721.663. Over in Turkey, the Lira has Gold priced at 8,013.68 going in the opposite direction and losing by 54.08 T-Lira with Silver losing .7788 in value with its trade at 91.6890 T-Lira.    

      July Silver Deliveries are over, with the closing numbers gaining 34 more buy orders but without a price set with the closing count at 56 physical demands for Silver that had to get their receipts by the end of yesterday’s trade and with no trading range given during the day. Also of note the Volume from yesterday’s trade went up to 64 and yet we still have no prices given. The numbers are intentionally incomplete. If this was a spread liquidation, there should be prices given for both sides of the calendar spread. I consider this totally unacceptable because it hides the activities that are generated inside what is supposed to be real price discovery.  August Silver Deliveries are now the focus with tomorrow being the First Notice Day with the Open Interest count now at 1,005 and with a Volume of 53 up on the board with a trading range between $16.44 and $16.37. Thursday will be the starting point for the next month’s delivery system.