Great and Wonderful Wednesday Morning Folks,
We start our day off with more positive pricing in Gold than yesterday with the trade at $1,751.20 up $5.10 after hitting $1,757.60 with the low at $1,746.70. Silver just turned red in London with the trade at $17.85, down 6.1 cents after the push down to $17.755 and after Silver reached $18.155 which happened before London’s churn. The US Dollar doesn’t seem to be sticking to the “par” plan with the trade at 99.335, down 3.1 points after reaching down to 99.265 with the high at 99.57. Of course, all this happened already, before 5 am pst, the Comex open, the London close, and after 4 years of continual “failures to impeach,” making Trump the most impeached president ever, thus making him the most popular among the people! Heck, even the Treasury Dept was used and they failed too! No wonder the left needs mail in ballots, if they don’t there won’t be any votes for their side to count.
In Venezuela, Gold is now priced at 17,490.11 Bolivar showing a gain of 170.79 overnight with Silver at 178.277 Bolivar regaining all of yesterday’s pull and more (+3.845). In Argentina, Gold gained 1,354.37 more Peso’s with the price at 118,945.22. Silver’s price under the same fiat gained 28.19 more with the trade at 1,212.34 Peso’s. Over in Turkey, where trading is just about done, Gold is at 11,899.64 Lira, proving a gain of 123.25 with Silver trading at 121.293 regaining most but not all of yesterday’s currency push.
May Silver’s Delivery Demands now registers a 204 count up on the board and with a trading range between $18.04 and $18.025 with the last trade at the high for the 4 lot that is posted under the Volume already. Yesterday’s delivery activity happened between a trading range of $17.88 and $17.70 with the last trade at $17.86 with the adjusted close at $17.892 as 13 contracts swapped hands inside the delivery month. The short traders are piling on the promises to drop the price on Options Expiration Day as the Overall Open Interest shows a gain of 3,852 bringing the total “paper behind the price” count to 151,994 Overnighters. Over the years we’ve witnessed this Options Expiration event which we think should be looked at in a Pavlov Dog manner. They have rung this bell so many times and for years, which may mean to us believers of hard money, that this is where the real break may occur, when everyone is trained to be out, the price takes off. Of course, none of this matters when we have the physicals.
May Gold’s Delivery Demands keep suggesting entities want the physical now with the count still elevated at 816 fully paid for 100-ounce contracts with no trading range for the 4 swaps posted up on the board already. Yesterday’s final trading range for the total Volume of 167, was in between $1,749.50 and $1,749.30 with an adjusted close way down at $1,744.20. Here’s something else that everyone else but us seems to ignore in the delivery month; the first 118 swaps had no price posted, but the last 49 trades posted that 20-cent trading range. Yup, nothing but integrity and trust here. Gold’s Overall Open Interest has gained another round of additional shorts, to the tune of 3,699 bringing today’s starting count to 528,638 Overnighters quite possibly Pavloving it for Tuesday’s trade.
Lots of events seem to be happening to the news services lately, as more job cuts are being done with their revenues collapsing and still, the management cannot figure out why no one listens to their truths anymore? Last night, East Coast viewers of CBS news got a special treat when their services went dark, making their +20 viewers panic because they were not being fed their daily thoughts and new hates. Then we have the release of documents proving the past administrations involvement in attempting to remove a non-member of the “political” elite by any means possible, including treason, as Trump ordered the release of evidence so solid that the TV show hosts can’t spin it. Then we have the judge in Flynn’s case refusing to throw out the case as he attempts to wait it out for the next accusation from Pelosi and friends who also knew the case was based on lies. This judge has taken over the prosecution because the defense team did its job so well, he’s offended.
On the more serious side of things, the global debt system is faltering. It matters not who’s debt is held, it’s becoming harder and harder to keep that system up when so many are on the verge of filing bankruptcy to get out from under that mountain of debt they cannot pay, before it crushes what’s left of their companies and everyone’s jobs. If there ever was a time for small businesses on a global scale, to file bankruptcy, this is it. Who can blame them after all? It wasn’t their fault that a virus, whether factual or not, was used to cause all this disruption. The disruptions have occurred, and it’s in over 184 nations. Small businesses are the life blood of our economy, and the dealers of debt will suffer the most because of what happened. The dealers, of course are the same ones that control all the paper behind the price. These debt dealers know what’s happened already and they are preparing too!
Still they ask us, why we hold our precious metals so closely? So, hang on tight to the real, keep a smile on your face no matter what, even if it’s behind a mask. Keep a positive thought in the head, and a prayer for all, as always …
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