Great and Wonderful First Day of July Folks,
They can’t let the markets show the fear after it was discovered Shanghai had far more Copper than Gold in their Gold bars with Gold now down $4.80 at $1,795.70 after a new high was made at $1,807.70 with the London low right here at $1,792. Silver is also “not allowed” to rally like it did yesterday with its trade at $18.52, down 11.7 cents after it made a new high at $18.85 with the London low at $18.46. Our forever printed US Dollar still seems to have universal support from the central banks with its value pegged at 97.515, up 16.6 points with the London high nearby at 97.56 with the low at 97.205. Of course, all this happened already before 5 am pst, the Comex open, the London close, and after the Seattle mayor slammed protesters for showing no ‘regard for’ her ‘safety’ as demonstrators circle her home. We say to her, “if you like ANTIFA invading your city, you can keep them!” In fact, you should really enjoy feeding them and taking care of them at your home too. Btw, if you arrest them, they’re “get out of jail free credit cards” will allow them the chance to go back to your door, again, and again, and again. You, Ms. Mayor, own all of this, and it is your responsibility to protect everyone in your city, not just your voters, all of them!
Venezuela’s price for Gold gained 143.82 Bolivar with the trade at 17,934.55, Silver’s value also gained 4.245 with the trade at 184.969 Bolivar. Argentina’s currency has Gold priced at 126,513.39 Peso’s proving a gain of 1,231.98 overnight with Silver gaining 40.84 A-Peso’s with the last price at 1,305.12. Turkey’s Lira now has Gold valued at 12,310.44, giving the noble metal a 98.41 T-Lira gain with Silver now worth 126.970 T-Lira, showing a gain of 2.911.
July Silver’s Delivery Demands now sit at 5,209 fully paid for contracts with a Volume of 284 already up on the board with a trading range between $18.705 and $18.405 with the last trade at $18.48, down 6.1 cents so far today. Yesterday’s activities inside the delivery month happened between $18.53 and $17.94 with the last buy at $18.465 with the Common Core Calculated Close up at $18.541, above all “buys”. A total Volume of 1,718 contracts swapped hands yesterday as 11,625 contracts somehow got lifted making yesterday’s comment “don’t expect much” looking weak. Yet how can 11,625 contracts fit inside a Volume that low? It is possible that this reduction is Mr. Resolute getting his receipts in immediate fashion? Even Harvey’s EFP data doesn’t jive with this drop either. Silver’s Overall Open Interest fell by 2,237 leaving a total of 169,476 Overnighters going against the buy. The reduction in the deliveries is far more than the Overall Open Interest, let’s see what happens from here.
July Gold’s Delivery Demands now total 2,013 fully paid for contracts with a Volume of 237 already up on the board inside a trading range between $1,798 and $1,784.20 with the last trade at the London low, so far today. Yesterday’s trading activity inside the delivery month happened in between $1,793.20 and $1,774.40 with the last buy at $1,791.30 with a total Volume of 986, reducing the demand count by 2,479. The Shorts have to be in a panic now, as witnessed by the activity behind the price, as Gold’s Overall Open Interest jumped to 562,737 Overnighters as another 14,863 pieces of liquidity got added into the mix after the Shanghai Gold Bar Scandal.
Remember when HSBC put into our markets a new level of CFTC preapproved paper right into Comex Gold without explanation? That approval caused Gold’s Open Interest to rise to a life of paper contract high of 794,541. That event just so happened to occur around the time when Silver was at peak paper, when the March Options came off the board, and sending the OI count from 246,078 down to 135,000 +/- with in a months’ time. Are they connected? Did the governing bodies help out? Is there hanky panky still going on even after Bart Chilton’s last interview with Chris Marcus where Bart stated the CFTC approved JPMorgan’s overleveraged Silver contracts? Did their “hidden from public view” agreement include Copper? Is this part of what the DOJ is looking into?
We may never get all the answers we need, but one thing for sure; cheap prices cure cheap prices, and too high a price, cures too high a price. This describes the battle we’re in, on a global playing field, between Precious Metals and Uncollectable International Debt, as the world churns over a bio, and as our nation head towards an election where a foreign nation has accused one candidate, evidenced in a phone recording, explicitly detailing the quid-pro-quo arrangement, running against a president, who has withstood every single impeachment accusation, that can be made up out of thin air, comes to a head. Please God let there be a debate!
Stay Positive, no matter what! It is my believe that Positive People live longer. Keep the faith and a Prayer for all, and as always …
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