Posted at 9:31 AM (CST) by & filed under General Editorial.

Great and Wonderful Friday Morning Folks,

     August Gold is staying in the green with the trade now at $1,890.40, up 60 cents and closer to the high at $1,896.70 than the low at $1,880.50. Silver is signaling, which may no longer be an indicator, with the trade at $22.76, down 22.8 cents after hitting a low of $22.58 with the high up at $22.985. The well printed US Dollar continues to find support with the value pegged at 94.71, up 6.1 points after reaching up to 94.78 with the low so far at 94.515. Of course, all this happened already, before 5 am pst, the Comex open, the London close, and after Goldman Sachs pays $3.9 Billion in penalty’s to the Malaysian government.

       Gold’s gains are everywhere these days! In Venezuela, Gold’s value now sits at 18,880.37 Bolivar, proving a gain of 138.82 overnight with Silver now priced at 227.316, showing a 1.098 Bolivar reduction. Argentina’s Peso price for Gold is now gauged at 135,658.41 giving the holder an additional 1,094.49 in A-Peso value with Silver losing 6.16 A-Peso’s with the last price at 1,633.79. Gold’s value under the Turkish Lira, is now gauged at 12,946.30 showing an additional gain of 96.16 Lira’s with Silver at 155.870, proving a slight reduction of 0.747 of a T-Lira.

      July Silver’s Delivery Demands are to end soon, yet the physical demands remain so strong we can hardly contain ourselves, with today’s starting count at 1,270 fully paid for 5,000-ounce contracts and with No Volume up on the board so far today, reducing the demand count by 106 from yesterday’s tally. Yesterday’s delivery activity happened in between $23.325 and $22.665 with the last buy at $22.91 with the closing price at $22.945. A total of 200 contracts swapped hands throughout yesterday’s pullback, as the trade took away only 13.8 cents. There was a ton of activity these past 2 days inside the Volumes in all the Ag contracts, yet the Overall Open Interest is not showing much of a change with the count adding another 511 short contracts bringing the total to 185,872 Overnighters going against the physicals. So far for the month of July, 15,678 purchases have been completed at the Comex (78,400,000 ounces) and that was before a certain Resolute made a statement.

      July Gold’s Delivery Demands now show a post of 136 fully paid for contracts waiting for receipts and with a Volume of 1 up on the board with a $1,884.30 price attached to it, down $4.80 so far today. Yesterday’s all-day-activity inside the delivery system happened between $1,890 and $1,868.50 with the last buy price at $1,882 with the adjusted close at $1,889.10 that brought a Volume of 133 with it. These newer purchases caused the delivery count to increase by 17. Gold’s Overall Open Interest is now gauged at 609,274 Overnighters proving a 5,676 reduction in count during yesterday’s rally as we watched closely as the Christmas Contract hit $1,927.10 before the calm was applied to the price. We’re not that far away from a new “Life of Contract High” in Gold, maybe today those that hold will feel better than they have these past 9 years.

      Next Tuesday is the August Options Expiration Day for Silver and Gold. The very next day, is the Last Trading Day for the July Contracts with next Friday being the First Notice Day for the August contracts. Yesterday’s activity in Gold was all about the rollover, out of the August contract and into December’s. Decembers Open Interest is now leading all contracts. August is another primary delivery month for Gold, and maybe it will be another stellar month for Silver too. August Gold’s Open Interest is now at 227,778 which represents 22,777,800 ounces. Is that too much for Comex? Let’s wait it out and see.

      Everything has changed for the positive in precious metals! The demands are overwhelming everywhere, including the already collapsed currencies called the emerging markets. Many nations are now vying for physicals, even after Venezuela was denied their gold held under British authority.

What we’ve been talking about can now be visualized, as the impact of the CCP-19 shutdowns on the Gold supply chain becomes more apparent everywhere. With Gold being only a few dollars away from making a new life of contract high, Silver is lagging, and under tremendous pressure, as we wait for that lid to blow! Could it be today, or will next week be it, or? Stay Tooned, and keep smiling! Have a great and wonderful weekend, have a prayer for all and keep your metals close, and as always …

Stay Strong!

Jeremiah Johnson

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