Great and Wonderful Monday Morning Folks,
Gold started the Sunday session in the positive, now that’s not the case because of the London Bop with Gold at $1,974, down 90 cents after reaching as low as $1,964.30 with the high to beat at $1,985.80. Silver is staying strong with the trade up 45.5 cents at $28.245 after the low was made at $27.79 with the high to beat at $28.465. The US Dollar’s value is now pegged at 92.23, down 14.9 points in between a high at 92.49 and the 92.135 low. Of course, all this happened before 5 am pst, the Comex open, the London close, and after a weekend of media induced hype trying to stir attention away from future Federal Reserve appointee Judy Shelton, after the Fed did it’s hole-thing, and after Judy posted this on her Twitter Feed last night.
We see nothing but positive in our precious metals verses all fiats, with the Venezuelan Bolivar adding 49.94 more value to Gold’s price with the last quote at 19,715.33, with Silver’s price now pegged at 282.097 Bolivar, it too gaining 4.145. Argentina’s Peso price for Gold is now at 145,951.39 providing a gain of 439.43 A-Peso’s with Silver gaining 32.04 with the last quote at 2,088.69 Peso’s. Turkey’s Lira price for Gold is now at 14,508.44 giving the holder an additional 119.96 Lira’s per ounce with Silver gaining another 4.286 T-Lira with the last price at 28.245.
Today is First Notice Day for the September Deliveries with the starting count for Silver at 10,548. These positions now require 100% margin for those that need product in size with this morning’s Volume at 346 and with a trading range between $28.27 and $27.72 with the last buy at $28.115, up 50.5 cents. Silver’s Overall Open Interest continues to prove the unwillingness to stay short as another 1,792 positions jumped the sinking ship leaving 168,619 Overnighters to go against the physicals. After all, 10,548 contracts only stand for 52,740,000-ounces of the real stuff. That shouldn’t be too bothersome for the Comex with their additional smelters, should it?
September Gold’s Delivery requests now has a post of 3,070 fully paid for 100-ounce contracts that now have the required 100% margin with a trading range between $1,970 and 1,953.30 with the last swap at 1,960.70 down $3.90 and with a Volume of 20 already up on the board. The shorts in Gold are still floundering around with the count losing 684 positions over the weekend, leaving 548,384 Overnighters to trade against the physicals as we wait for more cash to be printed and more articles to be posted by Judy as the Federal Reserve attempts to keep her away from their data, and the microphone. Will these deliveries cause another price quiver at the Comex? Let us wait, because it shouldn’t take too long at all to see it again!
The Ohio Police & Fire Pension Fund is now allocating an additional 5% of their cash to Gold, adding to their 20% holdings, and since last month’s new life of contract high, as we expect much higher prices in the future, as things unwind because of what China did, and what a certain party is doing by blaming the president instead of taking the responsibility and protecting those that abide by laws in their own areas they tax and govern.
Also, up on the news board is the claim that more data is about to be released going into the faked Steele dossier story and those who intentionally leaked false data to the press, so they too can get in on the lie. It was mentioned in a Sunday Night interview with John Ratcliffe, the Director of National Intelligence; “When I become aware of intelligence community information that is disclosed unlawfully, I do what’s called a crimes report. I’ve done that now on a number of occasions, and so those investigations are moving forward.” The leaks were “for political purposes” to create what he said is a false narrative “that somehow Russia is a greater national security threat than China.”
The new life of contract high in Gold means that things are starting to unwind again. Leaving Silver behind, helps prove that the great unwind has yet to be started, and the great reset may be just ahead. When we start to see new life of contract highs, in both precious metals, at the same time, maybe then, we’ll start to see some real fall-out caused by the printers who cannot do anything else but print and give to their friends, and lie to everyone else, with Judy Shelton being the biggest threat the printers have. So, keep things real, in hand, buy more physicals if you can, and as always …
More J.Johnson content is available with purchase of a JSMineset subscription.