J. Johnson’s Latest – Resolute Longs And The Silver Stress Test Challenge!
August 7, 2019
Great and Wonderful Wednesday Morning Folks,
Gold is higher, and right now the December trade is at $1,505.90, up $21.70 and right close to the high of $1,507.70 with a low at $1,484.30. Silver is leading the charge with its trade at $16.945, up 50 cents with its high close by at $16.97 and the low down at $16.45. The Dollar is staying in place for now with the value pegged at 97.425, up 8/10ths of a point with the high at 97.535 and the low to beat at 97.225. All of this was done way before 5 am pst, the Comex open, and the London close.
Our emerging markets currency watch is all positive today! In Venezuela, the Bolivar now has Gold priced at 15,040.18, showing a gain of 313.61 Bolivar with Silver now at 169.238 adding 5.443 Bolivar to the price. In Argentina, the Peso has Gold valued at 68,155.04, a rocket ship launch of 1,229.08 Pesos with Silver now trading at 766.872, et tu adding an additional 22.437 in A-Peso value. Turkey’s Lira has Gold priced at 8,268.03 adding 107.80 Lira to its value with Silver now at 93.0493, a jumping of 2.2878 T-Lira’s.
August Silver’s Delivery requests now shows a post of 407 contracts, fully paid for and still waiting for receipts, with a Volume of 9 up on the board so far this morning. Just like yesterday’s trades, and after seeing the previous day‘s volumes go to 30, we still have no trading range to offer today, with the delivery month‘s closing price at 16.405 proving 7 contracts were settled out yesterday either in EFP’s to London or physical’s here. There’s nothing to worry about because all the trades being done in the delivery month are none of your business. The secret parenthesis’s trade has taken over the Comex. I’ll argue the point here that “if” these are spread trades entering or exiting, there HAS TO BE A PRICE COORDINATE! And they should be posted! Hello McFly! Silver’s Overall Open Interest is proving the shorts are still “staying the price” by adding more short contracts with the total count right now at 239,938 Overnighters still in play proving the addition of 1,430 more contracts where added just to keep Silver from breaking double zeros ($17.00).