Great and Wonderful Monday Morning Folks,
We hope you had a great weekend enjoying the sunshine. We sure did, we’re even enjoying this morning’s pre-sunrise movements in the markets with June Gold up $14.80 at $1,715.70 after reaching up to $1,726.00 with the low at $1,700.30. Silver is up as well with the July contract at $15.10 up 16.2 cents after hitting a high of $15.225 with the low at $14.78. The US Dollar is under support as well this morning with its trade, following the precious metals, at 99.52 up 42 points and right beside its high at 99.54 with the low at 99.09. Of course, all this happened already, before 5 am pst, the Comex open, the London close, and after Governor Gavin Newsome attempted to threaten Californians with prison time, for going to the beach, and was almost completely ignored.
Gold under the Venezuelan Bolivar regained 249.68 over the weekend with the price now at 17,135.55 Bolivar with Silver at 150.811 Bolivar a gain of 0.998. Argentina’s Currency now has Gold valued at 114,272.54 Peso’s showing a 1,452.66 gain with Silver now valued at 1,005.80 Peso’s regaining 4.88 over the weekend. Gold under the Turkish Lira gained 193.54 with the starting price for the week at 12,066.77 Lira with Silver at 106.200 gaining back 0.88 T-Lira’s. The future question we have is; How will these emerging currency’s respond when the Dollar loses its value in the weeks and months to come? Are not all currencies trading against Silver and Gold? Let us find out what the ratios will be like as time unwinds the crimes … Stay Tooned!
While that question festers, we continue to observe the demands for physical at the Comex with today’s delivery requests for the May trade at 3,845 fully paid for 5,000-ounce contracts waiting for receipts and with a trading range between $15.06 and $14.695 with the last 1 lot swap, at $15.015 and with a Volume of 179 posted up on the board, so far today. This proves a drop of 1,847 in deliveries, after Friday’s trading range between $15.045 and $14.855 with the last registered trade at $15.025 and with that magically adjusted close at $14.863. Silver’s Overall Open Interest continues to drop with the total now at 132,134 Overnighters still in the trade, as another 2,733 Algo controlled short trades leave, giving us old school traders the idea that things are going to actually show a corrected (and much higher) value, sooner than later. All we have to do is wait for it. That shouldn’t be too hard anymore.
May Gold’s Delivery Demands are now at 5,348 fully paid for contracts waiting for receipts and with the early morning trading range between $1,709.00 and $1,702.60 with the last single lot order at $1,708.30 and with a Volume of 271 up on the board so far today. Friday’s trades had a Volume count of 337 swaps inside a trading range between $1,701.50 and $1,670.50 with the last buy/sell at $1,698.80 with the usual adjusted low close at $1,694.50. Gold’s Overall Open Interest is now at 491,760 Overnighters proving 1,816 Algo controlled short contracts exited the trade as things start to unwind in the world markets.
The Retail World is going thru more changes as J. Crew files for bankruptcy, with the blame directly placed on the CCP19. The Retail Industry was changing before this bug which reminds me of the time when Zody’s and Montgomery Ward’s lost their foot traffic to the malls back in the early 80’s, and now it’s the malls turn as more and more people buy online and stay away from each other. It will be interesting to see what happens next as it is apparent, everything has changed but the prices of precious metals. Now we are led to believe there is a currency shortage after 2.2 trillion was created out of thin air and pushed into the markets and, it’s still not enough.
The days, weeks, and months, of sharply higher precious metals prices is upon us. Not even in the central banks fantasy collection, can they hold onto their ill-gotten gains as the buyers of physicals continue to remove what they can from the controller’s hands. At the same time, the controllers try their best to sway nations loyalties by using their levels of held (and uncollectable) debt. They’re doing this even when there is more debt than dollars, and no taxable income to pay off the debt. Oh yeah, let us not forget this is now a global issue too. Now that we’re all used to staying in place, with some of us having to restrict movement for over 2 months, the future banker’s holiday will be a breeze once we get to that point, as the clock keeps ticking and the debt keeps rising, with no way to pay except print.
We’ll sit right here, as the world continues to turn, even without the issues of debt or a BioBug, as precious metals history proves, those that hold the Gold set the rules. So, keep the faith, have a smile on your face and enjoy the Sun, it’s what the medical industry won’t talk about because it prevents the problem which means no profits. As always …
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