J. Johnson’s Latest – Comexian Antics, Bank Failures, and The Power Of Print Failing!
November 4, 2019
Great and Wonderful Monday Morning Folks,
Gold is trading higher again as we wait for the “Comexian Antics” to start with the December trade at $1,515.20, up $3.80 with the high close by at $1,516.50 and the low at $1,510.80. Silver is up as well and equally unmoving as Gold with the December contract at $18.15, up 9.8 cents with the high at $18.18 and the low registered at $18.045. The US Dollar, which needs to be printed in order for the banks to keep Silver, Gold, and all commodities at bay, is now valued at 97.11, up 6.9 points and close to the high at 97.155 with the low just below the Maginot line at 96.975. All of this happened after daylight savings time, before 5 am pst, the Comex open, and the London close.
Gold in Venezuela is now priced at 15,133.06 Bolivar, proving a gain of 23.97 in value with Silver now priced at 181.273 it too gaining 0.25 of a Bolivar. In Argentina, the Peso has Gold’s value pegged at 90,384.22, a gain of 284.62 Peso’s since Friday’s early morning quote with Silver at 1,082.68, a gain of 2.99 A-Pesos. In Turkey, their currency, the Lira, now has Gold’s value pegged at 8,619.53 Lira, gaining 40.49 with Silver losing 0.554 in T-Lira value with its early morning price at 103.247 Lira.
Once again the “Comexian Antics” are carried forward as we still question the Comex numbers when it comes to the real factor of deliveries with the November Silver Demand Count now at 16 fully paid for contracts waiting for receipts proving a drop of 60 obligations and with no price given all day Friday and so far today as well. Were these demands for physical Silver delivered here, or in London, or is it one of those Comex things that is no one else’s business?
Citi Predicts The Greenback Could Weaken ‘Substantially’ — To As Low As 85 On The Dollar Index
November 1, 2019
The U.S. dollar index could fall to as low as 85 as the Federal Reserve grows its balance sheet again by purchasing more bond assets, a Citi strategist said Thursday.
“Our latest projections are that it would weaken even further — maybe to the high 80s, perhaps even as low as 85,” Mohammed Apabhai, head of Asia Pacific trading strategies group at Citi, told CNBC’s “Street Signs.” Technical analyst Daryl Guppy said last year that 85 is a “historical support level” for the dollar.
The dollar index is a measure of the greenback’s value relative to a basket of currencies, largely made up of the United States’ most significant trading partners.
The Fed increases its balance sheet by buying up bonds and Treasurys as a way of pumping cash into the market. That in turn makes bond yields — which move inversely to prices — drop as the bond prices rise. The dollar usually weakens when bond yields fall.