Great and Wonderful Wednesday Morning Folks,
Gold is now trading at $1,930.90 down $12.30 from the Comex closed after getting pushed down to $1,926.30 with the high nearby at $1,941.70. Silver is down 1% with the trade at $26.71, off by 28.1 cents after recovering from the low at $26.565 with the high at $27.01. Today, the US Dollar is doing another one of those “you know…things”, with the trade at 93.57, up 12.9 points with a trading range between 93.655 and 93.435 (explained below). Of course, all this happened before 5 am pst, the Comex open, the London close, and after newly reviewed documents show that former FBI agent Peter Strzok and other officials involved in the counter-intelligence probe against Donald Trump’s 2016 presidential campaign are in trouble. The past administration will be fighting against the word “treason” and trying their very best not to have the acronym “MI-5 & 6” used in a military court by the prosecutor.
Our Emerging Markets watch has gains for Gold but not Silver (yet). Gold under the Venezuelan Bolivar is now priced at 19,284.86, providing the holder an 85.89 Bolivar recovery with Silver at 266.766, showing a loss of 0.849 of a Bolivar. Argentina’s price for Gold is now at 144,110.05 A-Peso’s offering a gain of 719.33 while Silver continues to be pressed with its last price at 1,993.74 reducing the value by 4.64 A-Peso’s. Gold’s price under the Turkish Lira now rests at 14,473.03, giving the holder an 83.95 T-Lira gain while Silver flattens out at 200.207, down by 0.36 of a T-Lira.
September Silver Delivery Demands now shows a count of 1,566 fully paid for contracts and with a Volume of 55 already up on the board with a trading range between $26.735 and $26.58 with the last buy at the high, which is down 12.9 cents from yesterday’s close. Tuesday’s full day of delivery activity happened in between $27.07 and $26.005 with the very last “buy” at $27 with that Calculated close at $26.864, an end of the day gain of 28.8 cents. A grand total of 545 physical swaps occurred during Tuesday’s trade helping to reduce the delivery count by 477 contracts, that either got receipts here or in London. Yesterday was another “big buy day” for our Resolutes, let’s see if they plan on coming in again while the currency goes toast. Silver’s Overall Open Interest gained 295 more short contracts in order to keep the gains controlled leaving us a total of 159,178 Overnighters to go against the physicals and, it’s helping out the Resolutes too.
September Gold’s Delivery Demands now shows a count of 216 fully paid for contracts waiting for receipts with a Volume of 7 up on the board with a trading range between $1,927 and $1,924.60 with the last buy at $1,925, down $8 so far from yesterday’s Comex close. Tuesdays swaps totaled 271 contracts with the full days range between $1,937.90 and $1,903.10 with the last buy at $1,929.80 with that Calculated Comex Close at $1,933, gaining $9.10 from Friday’s close and reducing the demand count by 168 contracts that may have gotten receipts here or there. Our “tell” is always the numbers behind the price which now proves the shorts are in trouble as the Overall Open Interest gained another round of paper in order to keep Gold’s gains from exploding with the count now at 558,503 Overnighters proving a gain of 3,318 since yesterday. Regardless of their antics, the price is still above 2011s life of contract high, and trading sideways since the new high, with the low in August, still intact.
The US Dollar is in big trouble! This is a daily chart of our 2020 September US Dollar
We had a huge drop in value over the past 2 quarters (March and July), and we’re about to see the end of this quarter and fiscal year with another one of those “things” occurring. If one wasn’t paying attention to the daily currency markets like we do, they would miss this completely. This is also the second time I’ve witnessed this sort of activity over the past 2+ decades, let’s just call this rare; for me.
These organized trades in our US Dollar has to be a “tell”, because this is not, nor ever can be considered, normal. If this wasn’t ordained by the currency priests at the exchange and our governing bodies, like we saw with Crude Oil going negative $40, we would see people arrested with video on CNN. What we are seeing here is a 1-minute tick chart with the high and low, for that minute, making a single vertical line. Each line has an (averaged) 20 point high and low, with my quick count being over 80 times so far today. Yesterday’s activity caused the Dollar to rally 72.2 points and that’s a big day for the currency, and our precious metals which ended positive as well! So, why is this happening today? Could it be an agreed upon position squaring just before Triple Witch Week (next week) with the Rollover in Currencies occurring next Monday?
This event in our currency is organized and calculated, by who and why?, I do not know. But it’s happening again, and while we are in the middle of our 2020 election cycle, the Brexit, and as we wait for more data on the past administrations January 7th 2016, executive order 13727 that may turn into treason. Interesting times and timing eh?
We are the ones that stare at “the monies of mankind” (not goats). That includes all the fiats created against them. It is why we are here, to state once again what better and safer, investment can there be in times like these than Silver and Gold in hand and away from any and all third parties? Hang on tight to the real, know that things are occurring in our markets that are not normal or explained properly, and keep the faith. As always ….
More J.Johnson content is available with purchase of a JSMineset subscription.