Great and Wonderful Friday Morning Folks,
Gold continues to show what pressure can do when more paper is applied to the “buy” with Gold at $1,550.30, down $4 after hitting a low of $1,546.70 with the high at $1,555.00. Of note, none of this activity created a new low so far with the trading range remaining inside yesterday’s attempt to scare out the Resolutes. Silver is actually doing better than Gold with its trade at $17.925, down 1.1 cents after hitting a low of $17.860 with the high nearby at $17.975. Yesterday’s early morning low was beaten out by 1 penny before the trade went dormant with the yesterday’s low still intact. The US Dollar still has the “support of print” with its trade at 97.22, up 5.8 points with the high at 97.30 and the low to beat at 97.095. Of course, all of this happened already, before 5 am pst, the Comex open, the London close, the US Unemployment report, and before China pulls another “we won’t sign” this deal (until?), a very easy thing to see if one simply applies pattern recognition to the subject.
In Venezuela, Gold’s price is now set at 15,483.62 Bolivar discounting the value by 24.95 Bolivar with Silver now trading at 179.026 Bolivar showing a loss of 0.999 in the overnight. In Argentina, the Peso now has Gold valued at 92,573.69 Peso’s proving a drop of 272.63 overnight with Silver at 1,070.61, subtracting another 5.53 in A-Peso value. In Turkey, Gold’s value is pegged at 9,109.29 Lira proving a loss of 29.47 with Silver still being held down as well with the trade at 105.319 T-Lira, showing a loss of 0.653.
January Silver Deliveries proved the Resolute(s) needs are still being met with the demand count now at 41 fully paid for contracts waiting for receipts to be filled here, or EFP’d over to London, and with zero Volume posted up on the board so far this morning. In yesterday’s early morning report, we had a Volume of 13 posted, but by the end of the day that Volume jumped to 38, yet the trading range remained so constant it boggles the mind. January 9th Delivery month purchases, and sells, only had one price posted at $17.76, and still they adjusted the closing price at $17.860. The Demand Count increased by 9 proving once again the reasons why we distrust Comex math and its regulatory body which only seems to rubber stamp central bank needs. So, we’re to believe that the entire day’s negative trade activity, kept the continued purchases at one price, all day long? Riiiight!
Silver’s Overall Open Interest only lost 134 paper contracts during yesterday’s trades (right up to right now) proving the Resolutes are not buying the storyline the media induced as they attempted to gaslight the lie of a starting nuclear war, which failed in spectacular fashion leaving the Overall Open Interest at 234,242 Overnighters in order to keep Silver subdued. Silvers Open Interest is so elevated that we are less than 10,000 more pieces of paper away from making another paper contract high that was made when Trump killed it in 2016. Even Gold’s Open Interest continues to climb with last nights Comex closing tally at 786,392 Overnighters proving the addition of 1,269 more contracts were needed but failed as the Resolutes stay in the trade.
Comex can add the paper but not the physicals. We support those that are Resoluting against the shorts, who buy the physicals from the supposed last resort, the Comex. Everyone who buys and holds physicals, has a stake in the trade that goes against this papered lie called the Comex Price. This is why we are as constant as the Resolutes, in fact we believe they already won it all. Of course this will be proven when the Open Interest starts to collapse, as the prices spike higher, when the Comex is be forced by law, to supply the physicals, they claim has this fixed value (that Comex created by oversupplying the paper contracts), while the mining sector proves they have slowed their extractions because of this artificial value created by paper and not the physical supply and demands.
Have a great weekend, hold on tight to the facts, as well as the physicals. Keep the attitudes positive and the smile on your face, as we roll forward into the weekend. As always …