J. Johnson’s Latest – The Resolute’s Pinnacle during the Triple Witch Week
June 14, 2019
Great and Wonderful Friday Morning Folks
We start our Friday off in a good tone hoping that by the end of Comex trading, things get even better with Gold now trading at $1,358.40, up $14.70 after reaching up to $1,362.20 with the low starting point of $1,345.70. Silver is still following with its trade at $15.05, up 15.8 cents and right beside its high of $15.065 with the low at $14.885, the start of last night’s reopening. The US Dollar is up as well trading at 97.12, adding 12.1 points of value with the high at 97.19 and the low at 96.94. All of this activity happened way before 5 am pst, the Comex open, the closing of trade in London, and the last day before we start the Triple Witch Week Watch.
Our Emerging Markets Currency watch now shows Gold trading under the Venezuelan Bolivar to be at 13,567.02, a whopper of a gain at 179.77 Bolivar with Silver now at 150.312, gaining 2.497 Bolivar in the overnight. Argentina’s Peso now has Gold priced at 59,108.48, dig this, a gain of 588.83 Pesos with Silver gaining 8.862 Pesos in the overnight with the price at 654.948. Turkey’s currency, the Lira, now has Gold priced at 8,008.59, gaining 152.69 with Silver gaining 1.9505 T-Lira showing all three emerging market currencies to be pushing precious metals higher and higher, until they hit the primaries, which in turn will be sending precious metals into movements under our currency. This is what I live for!
June Silver’s delivery demands are still stymied with the count stuck at a lonely 1 and with zero volume on the board so far this morning. The last time any physical Silver was purchased was at $15 two Monday’s ago with no other purchases of physical afterwards, showing us this last dip in price was all paper giving a better deal but with no takers. That is something else! Silver’s Overall Open Interest is still showing gains as the Overall Count added another 2,784 more shorts to the trade in order to keep Silver from exploding any higher with the total count now at 232,975 Overnighters, as not only the Shorts keep adding to their almost “never failed before” trading strategy, the Resolute Longs are doing the same. This is truly a Resolute Pinnacle, the day before the Triple Witch Week and Currency Rollover (this Monday).