Commercial Signal Failure or Another Head Fake?

Posted at 8:17 AM (CST) by & filed under General Editorial.

Great and Wonderful Monday Morning Folks,

     We start our first Monday, and first full week of the new year off, with Gold’s price trading slightly higher at $1,578.80 up $26.40 after hitting $1,590.90 with the low at $1,562.30. Silver is still Silver, not allowed the break (yet) with its trade up a little at $18.465, up 31.4 cents after hitting $18.550 with the low at $18.170. The US Dollar‘s current value is now pegged at 96.305, down 21.6 points after dipping down to 96.230 with the high starting point at 96.585. All this of course happened already, before 5am pst, the Comex open, the London close, and after one of the most comfortable celebration parties I have ever been to.

      The Emerging Markets Currency Watch is proving what the markets will do when precious metals are allowed to move freely in the primaries with Venezuela, now pricing Gold at 15,768.27 Bolivar, up 298.63 with Silver priced at 184.419 Bolivar proving a gain of 2.447 over the weekend. Argentina’s Peso, the currency that has yet to be adjusted higher (by reducing the digits to the left of the decimal) now has the nobel metal trading at 94,307.72 giving those that hold a 1,771.86 A-Peso gain (x100 ounces per contract) with Silver now trading at 1,102.19 Peso’s showing a gain of 14.72 (x5,000 ounces per). Over in Turkey, the Lira has Gold trading at 9,435.15 Lira proving a gain of 182.97 Lira with Silver also gaining with its value at 110.356 T-Lira offering those that hold a 1.515 T-Lira gain in value. 

     The January Silver Delivery Demands now show a total of 84 fully paid for contracts proving a drop of 35 requests for physical either getting Silver delivered here, or sent to the EFP-lands of London, and with no trades so far this morning with the exception of those possible trades that are posted inside the parenthesis’s (). Friday’s trade activity inside the delivery month proved a Volume of 83 with a trading range between $18.11 and $17.965 with the closing price adjusted to $18.065.

      Silver’s Overall Open Interest, the one part of the trade that strict chartists have no clue about, continues to gain more controlling shorts with the count now at 233,783 Overnighters, proving an increase of 2,621 more short contracts jumping in, losing more money as the prices gain and as the Resolute buyer awaits for his chance to pounce in again! Not only is Silver gaining more shorts but Gold continues to break new Open Interest ground by adding more contracts behind the price with its total now at 799,504 (thank you Harvey O.) proving a gain of 12,755 overnighters willing to tell us holders how wrong we are. Are we seeing a Commercial Signal failure or another head fake? Go team! One day the idea of removing the physicals from the Comex at these prices, will really do some damage to the short trade, if hasn’t already. 

      While all media was attempting to fire up the “fear trade of war” inside everyone’s mindset, we celebrated the 60th birthday of Bill Holter and yes Jim Sinclair was there. In my entire life, I have never been to a gathering where everyone was talking to everyone about everything. Some of the greatest writers and supporters of precious metals were all elbowing one another in friendly fashion and even the political discussions had zero issues. No one cared about political affiliations at all, in fact, everyone allowed everyone their voice to be heard! It reminds me of the days of “All in the Family” and “The Jefferson’s” and the Trump Stadium gatherings, all at once. What a time to be an American!

    Hang in there Baby, keep the faith, and make sure to set that attitude to positive, no matter what is going on in your life, and as always …

Stay Strong!

J. Johnson