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J. Johnson’s Latest – Silver’s Open Interest Keeps Dropping but Not Their Call Options….
October 8, 2019

 Great and Wonderful Tuesday Morning Folks,   

      Gold is trading higher after yesterday’s game of shorts went bust with the trade now at $1,510.40, up $6 from the low at $1,492.10 with the high close by at $1,512.40. Silver is following along with the trade at $17.605, up 6.5 cents after being dipped down to $17.305 with its high close by at $17.65. The US Dollar is down 6 points at 98.605 with its high at 98.73 and the low at 98.54. All of this reversal happened during London’s play time, before 5 am pst, the Comex open, and before London is done.    

      Our Emerging Markets Currency Watch is proving how right we are about the fiat crisis with Gold under the failed currency called the Venezuelan Bolivar now trading at 15,085.12 showing a gain of 56.93 Bolivar with Silver now at 175.830 giving the people a 0.899 Bolivar profit. In Argentina, the failed currency called the Peso now has Gold valued at 87,356.20 Pesos, proving a gain of 567.31 overnight with Silver’s gain posting a 7.91 A-Peso profit with the price at 1,018.11 Pesos. The Turkish Lira now has Gold priced at 8,816.58 showing what Gold can do when their president decides to make the value of its currency, umm unstable, proving 176.06 T-Lira gain in Gold’s value with Silver now at 102.749 T-Lira proving a gain of 2.176 in the overnight.    

      October Silver Deliveries keeps chugging along with the total request count now at 348 demands for physical and with Zero Volume up on the board so far this morning. Yesterday’s activity proved 8 contracts traded “with a price” yet the total count dropped 17 giving us the understanding that some of these demands were either settled out here at the COMEX or got papered over in London. Until we know for a fact (a full untampered viewable paper trail) what has happened to the supposed deliveries in London, we will continue to challenge the idea that these are actual physical deliveries of real product or it’s just paper transferred from one failed institution going to another on the verge of bankruptcy.