J. Johnson’s Latest – Today’s Silver and Gold Activity, Is Brought To You By “Q”
December 12, 2019
Great and Wonderful Monday Morning Folks,
We Q the starting point of the day with Gold trading higher with the February contract at $1,468.80 up $3.70 with the high close by at $1,469.10 and the low still inside a very tight hi/low trading range of $5.80 at $1,463.00. Silver seems to be leading with its trade at $16.705 (March) up 10.9 cents with the high at $16.71 and the low at $16.565. The December US Dollar, which comes off the board next Monday inside the Triple Witch Week, is now trading at 97.530, down 13.1 points and at the low of 97.525 with the high at 97.700. All of this happened before 5 am pst, the Comex open, and the London close.
Our Emerging Markets Currency Watch is proving the Christmas Sales period, is the time to buy. In Venezuela, Gold is now priced at 14,669.64 Bolivar giving those wanting to own a 120.85 Bolivar discount with Silver at 166.841 Bolivar, offering a 3.046 discount from Friday’s early morning quote. In Argentina, the Peso has Gold valued at 87,940.89 Peso’s giving the buyer a 743.73 A-Peso discount with Silver at 1,000.60 discounting the trade by 18.24 Peso’s. The Turkish Lira now has Gold valued at 8,518.86 showing a loss of 10.47 in T-Liras with Silver at 96.8672 dropping 1.1029 in value as the physical buyers are given the chance to buy before the new high.
Our December Silver Delivery watch now shows a request count of 913 fully paid for contracts waiting to day trade, get physicals, or sending paper to London, and with a Volume of 120 up on the board so far with a trading range between $16.47 and $16.56. Sunday nights ICE openings showed someone buying 12 Red Contracts within the first 40 minutes of trade and within another ½ penny trading range between $16.470 and $16.475. No One outside an Algo has the ability to trade and profit off a ½ penny swing as explained earlier. Also, of note is the drop-in demand count from Friday to today proving a 1 contract drop in all of Friday’s trading activity inside the delivery month which may be either day trading algos, or the buy orders are keeping up with the physical demands being removed with over 135 contracts trading on Friday. As of right now, the physical demand count for Silver now stands at 4,565,000 ounces waiting to get delivered.