J. Johnson’s Latest – Ag – This Criminal Element Is Going To Be Removed!
September 24, 2019
Great and Wonderful Tuesday Morning Folks,
We all know in a free moving market prices would continue to move in the direction of its strength. But that’s not our precious metals market with the Morgue all over it (for now) with Gold at $1,528.10, down $3.40 after dipping down to $1,526.60 with the high to beat at $1,531.30. Silver is down 10.6 cents at $18.605 after dipping down to $18.515 with the high to beat at $18.81. Even the US Dollar is held in check with its value pegged at 98.20, down 2.1 points and at the 98.19 low with the high at 98.32. All of this was done before 5 am pst, the Comex open, the London close, and the answer to the question; will they remove Boris?
Our emerging markets currency watch is almost all positive with one stinker for Gold in the mix. In Venezuela, Gold is now priced at 15,261.90 Bolivar showing a gain of 15.89 since yesterday’s early quote with Silver at 185.82 Bolivar, gaining 1.35. In Argentina, the Peso has Gold priced at 86,980.84 proving a gain of 480.53 Pesos with Silver at 1,059.06 Pesos showing a gain of 12.27. The Turkish Lira seems to be gaining strength with Gold losing 43.01 Lira with its price at 8,690.83, however, Silver is now at 105.78 Lira, proving a gain of 0.10.
September Silver Deliveries are still gaming the trade with the total demands now at 36 fully paid for contracts waiting for receipts and with a Volume of 3 up on the board in the early morning with a price (trading range) of $18.52. During yesterday’s trade the Volume jumped to 79 when the OI was 53. This tells me our Resolute Buyer needed more physical Silver which added 20 contracts (at a minimum) to the count for today. Let’s see if these Algos can push the price lower today so this buyer can step in again. Even with yesterday’s decent rally, prices are still super cheap compared to what most of us think will be the future of Silver’s value.