Great and Wonderful Thursday Morning Folks,
Gold is in the green with the trade at $1,568.60 up $5.80 after hitting a high of $1,571.30 with the low at $1,556.00. Silver is leading the early morning charge with its trade at $17.755 up 15.3 cents with the high at $17.820 and a low at $17.575. The US Dollar’s rally seems to have stalled, for now, with its value pegged at 98.16 up 0.002 after reaching 98.21 with the low, that needs to go, at 98.075. Of course, all of this happened while we slept, before 5 am pst, the Comex open, the London close, and after the predicted minority split in the acquittal of President Trump on 2 counts, and as we proceed to look into the Biden Ukrainian link of deceits involving Deep State actors appointed by a past president.
The Emerging markets currency watch is “all in the green” with the Venezuelan Bolivar now pricing Gold at 15,666.39 regaining 108.86 Bolivar with Silver at 177.328 Bolivar putting back 1.748 into the price. Argentina’s Peso now has Gold valued at 94,996.46 putting back more Peso’s into the price than was taken during the previous days write up with Silver now trading at 1,074.53 Peso’s more than doubling the take away from yesterday. Over in Turkey, Gold is valued at 9,395.01 Lira adding back 69.85 with Silver regaining
1.099 T-Lira’s with the price at 106.341. It seems that the uptrend is stronger than the pullbacks, maybe this will lead into the primaries soon enough.
February Silver Delivery Demands now shows a post of 11 fully paid for contracts with no trades yet suggesting a drop in count of 73 proving nothing. Once again, because Comex math decided to use Common Core Logic as we are lead to believe receipts might have been given here, or sent to London, or it’s simply another ledgering trick inside a criminal element still allowed to steal, even though the banks management is now being looked at as the investigations are expanded. Silver’s Overall Open Interest remains over weighted in paper but that too is starting to show lack of enthusiasm for the shorts with the count at 223,742 Overnighters proving a reduction of 1,538 Obligations offering up the idea that the shorts see more upside pricings instead of returns.
February Gold’s Delivery Demands now stand at 2,380 fully paid for contracts waiting for receipts and with a Volume of 66 posted up on the board with a trading range between $1,565.50 and $1,551.60 with the last trade at $1,565.30. The delivery count has been reduced by 402 contracts as we undoubtably know these numbers won’t jive either with any other numbers given by Comex. Gold’s Overall Open Interest is now calculated at 653,828 Overnighters showing the shorts removing 1,483 contracts as we wait for more unsettling news from China and its weaponized coronavirus outbreak devastating its population and quite possibly many other nations as well. If this outbreak gets worse, we expect China may shut down its international stock and commodity trading hubs, and as of our early morning report, these exchanges are still producing numbers (Thank God).
Accounting practices have been destroyed by computer algos and bad actors to the point that no one below the canopy of criminals in government and banking, knows what the real numbers are. Even the Baltic Dry Index is trying to reach a new low. What’s worse (maybe) is the Velocity of Money, which has made a New All Time Low (since the first quarter of 1959) and while we’re observing the Federal Reserve print machines churning in overdrive at the same time the 2 other most populated nations are doing the same.
This will end badly for those not prepared for the currency correction of our lifetime. We remain diligent and strong because we think we are prepared as we hold on tight to our beliefs with Silver and Gold in our possession, a smile on our face and a positive attitude in our heads no matter what. We hope you too, are prepared for tomorrow. Hang in there and keep the faith, and as always …