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J. Johnson’s Latest – The Resolutes Remain Strong! That IS Impressive!
August 22, 2019

Great and Wonderful Thursday Morning Folks,   

      Gold is getting hit after the gagged J-Hole event with December’s trade at $1,503.40, down $12.20 and right beside the usual London low at $1,502.10 with the high at $1,514.60. Silver is correcting as well with its December trade at $17.07, down 22 cents with the London low right here at $17.055 with the high to beat at $17.265. The US Dollar is still not responding to any of the precious metals activity with its’ value still stuck at 98.21, up 3.1 points after reaching 98.29 with the low at 98.005. All this happened before 5 am pst, the Comex open and the London close.    

      We have mixed signals in the emerging currencies this morning with Venezuela showing Gold’s trade at 15,015.21, losing 68.89 in Bolivar value with Silver at 170.487, losing 1.298 Bolivar. In Argentina, the Peso has Gold priced at 82,448.48, proving a drop of 198.50 A-Pesos with Silver now valued at 936.140 A-Pesos showing a drop in value of 5.165. These corrections don’t seem like much movement compared to the past ones, do they? In Turkey Gold has gained value with the trade now at 8,665.60 T-Lira proving the increase of 40.32 with Silver at 98.3695 T-Lira’s it too proving a gain of 0.1477 in value.    

      The August Silver deliveries now total 1 lone demand for physical and with Zero Volume up on the board so far this morning proving 4 receipts where settled out during yesterday’s trade either here or in London with the odds of delivery here being lower than the count (based on %’s). This is where Le Metro Pole’s Harvey Organ and Nick B’s stats matter the most. Silver’s Overall Open Interest shows a slight drop in count with the total at 234,826 Overnighter’s still in play and only taking out about ½ of what was piled on before the FOMC meeting proving 3,838 Obligations leaving the field of play. Regardless of the price swings, the Resolutes Remain Strong, and that IS impressive!