Precious Metals Prices Rise As The Open Interest Falls!

Posted at 9:40 AM (CST) by & filed under General Editorial.

Great and Wonderful Friday Morning Folks,

        Gold is positive in the early morning with the trade at $1,558.80, up $8.30 and right by the high at $1,559.30 with the low at $1,549.30. Silver, our red headed step child, is still being dragging along with its trade at $18.095, up 15.6 cents after hitting $18.105 with the low at $17.905. The US Dollar trade is still under support (for now) with its value pegged at 97.215, up 15.30 points after hitting 97.25 with the low at 97.010. Of course, all of this happened already before 5 am pst, the Comex open, the London close, and after Trump nominates Chris Waller and “Gold Bug” Judy Shelton to fill the Fed vacancies, Q the BOOM! (Fed Res absorbed back into the US Treasuries control?)

      We see nothing but positive across the Emerging Markets Currency watch today. In Venezuela, Gold is now priced at 15,568.52 Bolivar proving a gain of 25.97 overnight with Silver at 180.724 Bolivar giving the holders a 0.799 gain in value. In Argentina, Gold has a price of 93,356.93 Peso’s giving the holder a 209.77 pop in price with Silver gaining 5.10 A-Peso’s with its price at 1,083.67.  In Turkey, the Lira’s price for Gold stands at 9,165.49 proving a gain of 55.67 T-Lira after their negative rate cut with Silver at 106.412, proving a gain of 0.948 of a T-Lira.

      The January Silver Delivery Demands increased overnight with the count now at 52, which just so happens to be the exact amount of Volume traded by the end of the day yesterday, and inside a 2-penny price swing between $17.95 and $17.94 yet the Comex and its “Element” were able to close the spot price at $17.875. Did you notice how yesterday’s paper side of the trade stayed in place around the $17.95 price? So, the Demand Count jumped from 3 to 52 proving 3 buyers got receipts and these 52 new “buys” could be the exit of a spread trade, being turned into a delivery order. If so, Nice Move Resolute! Sneaking in a 260,000-ounce “order to fill” with less than 8 trading days to go! So far this morning the Volume count is at 6 and with no prices to offer once again. Maybe later today the Comex will find the time to put a price up on the board.

      Silver’s Overall Open Interest, fell a little with the count now at 235,427 Overnighters showing a reduction of 1,069 short contracts. Gold’s Open Interest now shows a 794,091 post, proving 6,384-paper contracts came off the board. Our point is proving itself here, as the Open Interest drops from these lofty heights of imaginary paper, the prices of our precious metals will rise. What we don’t know yet, is where the prices of the real money will be, once the paper contracts, that has been built up to unreasonable levels, collapses?

      The news services are still being fully exposed as biased with Veritas making major headways in exposing what is going on in the presidential race within the DNC groupings. (Feel the) Bernie still has not said a thing about his employees who are questionable under the eyes of law enforcement. The bigger question now is who was it that set his bail and allowed him to go free after making claims of burning cities to the ground if the voters don’t vote the way he feels is right? Hate the living voters much?

     The secret Russian plot called “Let Them Speak” is still working. Or maybe better said, “never interfere with an enemy while he’s in the process of destroying himself”, and we won’t! We’ll just watch the self-made meltdown as it happens live! So, have a great weekend and a wonderful holiday. Keep your precious metals away from all third parties, a positive thought in the head, and a smile on your face, no matter what! And as always …

Stay Strong!

J. Johnson