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J. Johnson’s Latest – Silver’s Option Anomaly, One Week To Go!
November 18, 2019

  Great and Wonderful Monday Morning Folks,   

      The only way the bankers can keep precious metals cheaper is by adding more paper to the game instead of the product with Gold now trading at $1,457.00 down $11.50 and right by that London low of $1,456.60 with the high at $1,470.20. Silver is equal in that there is far more paper to trade than product to deliver with the trade at $16.76 down 18.8 cents with the low, right in the London, at $16.705 and a high to beat at $16.970. The created trade against precious metals called fiat always has a leader in print. At present, it’s called the US Dollar and its trade is also weakened but barely with the current value at 97.825, down 4.6 points after being dipped to 97.74 with the high near by at 97.87. All of this paper trading occurred before 5 am pst, the Comex open, and the London close.   

      Since the Dollar is the primary currency, that has tons of debt instruments with tons more of print to sell against everything physical, it’s influence abroad has kept things static and unwavering in all physical things including precious metals (for now) with the Venezuelan Bolivar pricing Gold at 14,551.79 Bolivar, taking back 79.90 with Silver now at 167.391 losing only 0.549 of a Bolivar. In Argentina, Gold is now priced at 86,795.18 Peso’s showing a loss of 528.06 with Silver now at 998.708 proving another drop of 35.52 in A Peso value, which we consider temporarily removed. In Turkey, Gold is now priced at 8,342.86, as another 76.80 is taken away with Silver now offered at 95.9647 taking a 0.6853 T-Lira hit.    

      The November Silver Deliveries have nothing to offer so far this morning with the Open Interest in the November contract is stuck at 6 fully paid for demands for physical with no Volume to offer so far today, but that sure doesn’t stop the bracketed prices from triggering nothing on my screen. Still our question, why are these spoofing prices still showing up when they are supposed to be illegal, or if they are valid and legal in something, where is the final math equation to settle? The Delivery Months OI number does prove a reduction of 3 in the demand count from Friday as we wait for the buyer(s) to step in again as I still wonder why the sellers of physical NEVER take the higher bids when offered? Is that not what a seller is supposed to do?