Great and Wonderful First Day of Winter Folks,
What a day already and it hasn’t even started here with February Gold now trading at $1,884.20, down $4.70 after hitting a high of $1,912 with the low at $1,859. Silver is still positive with its trade at $26.54, up 50.7 cents after spiking to $27.635 (up $1.602) and with a spiked low at $25.12 (down 91.3 cents from Friday’s Comex close). The US Dollar has spiked as well with the value pegged at 90.62, up 66.7 points and coming off the high at 90.95 with the low to beat, at 90.02. Of course, all this happened already before 5 am pst, the Comex open, after all of London closes, and after youtube removed the president’s lawyers opening statement during the senate committee hearing. “YouTube has decided that my opening statement in the U.S. [Senate], given under oath and based upon hard evidence, is too dangerous for you to see; they removed it. To this day, ‘our evidence has never been refuted, only ignored.’ Why is Google so afraid of the truth?” Big Tech is going to have a very hard time when their bosses get arrested, now that “they” decide what is real and not, taking away your chance of making that opinion. Btw, here is the full hearing with Trump’s attorneys talking points, so you can decide.
In Venezuela, Gold is now priced at 18,818.45 Bolivar, showing a loss of 84.89 since Friday morning with Silver doing the opposite, adding 3.795 Bolivar with the last trade at 265.068. Argentina’s price for Gold lost 618.09 with its last price at 155,936.11 A-Peso’s with Silver’s last trade at 2,196.42 A-Peso’s adding 32.64 more since Friday’s pop. Over the Atlantic, and on the other side of the Mediterranean, Turkey now has Gold’s price at 14,484.99 T-Lira, it too pulling back 15.53 since Friday with Silver adding 3.598 T-Lira’s with its last trade at 204.025.
December Silver has only 7 days of trade left to deliver, with a Demand Count at 497 fully paid for 5,000-ounce contracts waiting for receipts and with a Volume of 105 already up on the board with a trading range between $26.99 and $25.41 with the last swap at $26.44, up 49.1 cents so far today. Friday’s full Ice/Comex trades happened in between $26.12 and $25.985 with the last swap at $25.949, a loss of 15.1 cents that also had 105 contracts being purchased with NO CHANGES in the demands which remains stuck at 497. Were the boys at Comex too lazy to change the Volume and Open Interest or is there a Resolute buyer coming in as the receipts are being dished out? Silver’s Overall Open Interest seems to not have the same issue as the delivery numbers do as 177 contracts left the field of play since Friday’s early morning count leaving 169,981 short contracts to suffer a kick in the wallet, and during a holiday week too. Joy to The World!
December Gold’s Delivery Demands are also unchanged from Friday’s numbers, which still total 1,891 fully paid for 100-ounce contracts, and with a trading range between $1,908 and $1,869.10 with the last swap at $1,880.50, a loss of $5.20, with a total of 68 swaps so far today. Friday’s full delivery trades happened in between $1,889.50 and $1,882.30 with the last buy at $1,885.70, a loss of $1.50 that had a total of 276 contracts swapping hands. Gold’s Overall Open Interest only lost 377 contracts leaving a total of 562,093 shorts holding on to their contracts, in the hope their Algo hasn’t been gauged.
Today’s “Ice” (International Commodity Exchange) trading ranges within precious metals, have exceeded the last 2 days of the Triple Witch Week. Not a normal circumstance within my memory banks, and it may mean something as we move forward, since this is supposed to be holiday trading. I blame all this on Erik, who bought some physicals last week. Enjoy the longest night of the year, and have a hot cup of chocolate, sit by that fire, with as many loved ones allowed without getting arrested by your state’s brown shirt Gestapo. Keep the faith and as always …
More J.Johnson content is available with purchase of a JSMineset subscription.