Great and Wonderful Monday Morning Folks,
Gold is trading at $1,743.00, down $9.80 after being forced to $1,724.20 with the high nearby at $1,747.70. Silver is leading the decline, like always, with its trade at $15.685 down 36.8 cents after hitting a low of $15.510 with the high up at $15.975. The US Dollar, the most printed and used currency on the planet, refuses to move lower, not because of the print, but because the centrals are supporting the currency in the only way possible, by buying it up on the exchanges (until?), with the trade at 99.455, down 4.9 points after dipping down to 99.110 with the high at 99.615. Of course all this happened already before 5 am pst, the Comex open, the London close, and just before all those stimulus checks hit more American accounts this week.
In Venezuela, Gold’s value sits at 17,220.45 Bolivar, showing a gain of 206.74 over the extended weekend with Silver at 156.654 proving an increase of 2.447 Bolivar. Argentina’s currency now has Gold’s value pegged at 111,626.97 Peso’s showing a 785.47 gain with Silver adding 10.89 with its value now pegged at 1,015.47 A-Peso’s. The Turkish Lira’s price for Gold continues to gain as well with the value now priced at 11,690.15 Lira showing a gain of 215.71 with Silver gaining 2.38 T-Lira’s with its early morning quote at 106.381.
April Silver’s Delivery Demands gained 7 more purchases during Thursday’s trade with the count now at 36 fully paid for contracts and with no trades up on the board so far today. Thursday’s Volume reached 15 with a trading range between $15.865 and $15.140 with the last 5 lot purchase at $15.865 along with the adjusted close at $15.995. Thursday proved to be more than the writers could control as the Open Interest proved a gain of 1,301 more sold contracts, which had to be added in order to keep Silver from breaking $16 with the total count now at 140,139 Overnighters still in the trade as we wait for what we know will happen when that last bar leaves the Comex.
April Gold’s Delivery Demands now sit at 1,237 fully paid for contracts and with a Volume of 54 up on the board so far this morning with a trading range between $1,722.00 and $1,710.70 with the last trade at $1,713.90. Thursday, we witnessed a final count in the Volume column at 825 with a trading range between $1,732.50 and $1,662.70 with the last purchase at $1,715.50 with a much higher adjusted close at $1,736.20. Thursday’s trades raised the April physical demand count by 426 contracts. This is an amazing level of purchase and while the markets remain controlled. Gold’s deliveries were so strong that another 11,503 short contracts had to be added in order to control the price making our Overall Open Interest count now at 491,133 Overnighters as we wait for Mr. Resolute to step in again while the prices are consistently maintained.
Deutsche Bank macro head, George Saravelos, is now complaining about the markets with the same old “there is no such thing as a free market anymore” after years of manipulating our precious metals, and our Treasuries, and as we witness more and more nefarious activity coming out as we wait for 2 trillion reasons (plus a lot more) to come into play, and as the G20 group is nearing a critical “action plan” to freeze debt servicing payments. Delaying the emerging markets won’t do a damn thing but cause more disruptions as those that only see more printing as the cure, continue to follow what they were taught totally missing our arguments that more print solves nothing. Virus Hysteria has already added $10 Trillion to our National Debt now making us the 21st century Weimar, as we wait for the hyperinflation to come next.
We remain focused, because the world’s central players are mucking up everything in order to stay in place. The demands for physicals are picking up and will in time cause the breakout as more and more information becomes confirmable and as the centrals lose out because the debt is totally uncollectable, which in turn should bankrupt many centrals. So, hang in there, keep the faith, and hold on tight to the real. It is what keeps us grounded while everything else is in a whirlwind! As Always …