Dismal Dave with more charts.
Great and Wonderful Thursday Morning Folks,
There must be something brewing behind the prices, with the same old group doing the same old thing, keeping Gold down $2 with the last trade at $1,713.80, recovering from the hit down to $1,703.50 with the high at $1,719.30. Silver “is” their biggest issue with the price knocked down to $26.005, down 38.2 cents, yet is recovering from the low of London at $25.66 with the high at $26.36. The US Dollar is also being supported with the Index valued at 91.18, a gain of 23.8 points, and right close to the high of 91.24 with the low at 90.985. Of course, all this happened, before Comex opens, London closes, and after a Texas Judge was arrested on, at the very least, 150 counts of voter fraud. It’s these little things called facts, that irritate the lying press narrative. How many have to be arrested and convicted before voter fraud becomes a fact for the Supreme Court to look at?
The international pressure on the prices of precious metals continues, with Gold under the Venezuelan Bolivar now trading at 17,116.58, a loss of 87.89 Bolivar overnight with Silver losing 6.50 with its last trade at 259.77 Bolivar. Argentina’s price for Gold is now at 154,604.68 Peso’s down 685.96 with Silver buyers seeing a 57.45 A-Peso drop with its last trade at 2,346.22. Turkey is mixing things up a bit with Gold gaining 71.25 with the last buy at 12,765.92 Lira, with Silver prices taking back some of yesterday’s gains with the last trade at 193.67, a loss of 2.84 T-Lira.
March Silver’s Delivery Demands now shows a total of 2,870 fully paid for contracts and with a Volume of 558 already up on the board with a trading range between $26.275 and $25.685 with the last buy at $26.06, a loss of 29.7 cents so far today. Wednesday’s full day of ICE trading happened in between $26.805 and $25.935 with the last swap at $26.23 with the Comex Calculated Close at $26.357, a loss of 49.3 cents on the day that had a total of 236 swaps helping to reduce the demands by 114 contracts that got receipts, maybe. One thing for certain is the Overall Open Interest is proving a continuing reduction of short trades as 1,725 contracts left the field of play leaving a total of 156,787 “shorts over physicals”. We’re less than 25k away from hitting a new low in paper over product, in a time when interest rates are not cooperating with billboard signs ready to popup.
March Gold’s Delivery Demands now has a total of 600 contracts waiting for receipts with a Volume of 319 up on the board with a trading range between $1,717.40 and $1,706.50 with the last buy at the high, a gain of $2.10 while the paper pushes the futures lower, for now. Yesterday’s full day of ICE happened in between $1,732.40 and $1,703.50 with the last buy at $1,718.40, a loss of $14.70 with the CCC at $1,715.30, a loss of $17.80 on the day that had a total of 501 new buys helping to reduce the demands by 464 contracts that got receipts, maybe. Another round of liquidation continues in Gold as well, as the Overall Open Interest proves the shaving of the shorts as 2,573 left the game, with the count now at 465,796 Overnighters willing to trade against the physicals.
Far more activity than normal is happening within the Treasuries, as the 10 year is seeing “more sellers than buyers” bringing the rate to 4%, before we hear from Federal Reserve Chairman Powell who will be speaking today. With the activities in all of our debt instruments, the forcing down of precious metals pricings, and the old school regime back in play, we may be seeing the new resurgence in precious metal demands, with the rumored Billboard Signs everywhere. If you see one of these Silver Squeeze billboards, please send them my way. Here are some of the ideas the WSB-Boyz have posted already.
The Donations to the WallStreetBets Billboards have reached their goals and then some. This just so happens to be a new wrinkle going against “the same ol’ group doing the same ol’ things” as the new (WSB-Boyz) enters into our realm of buying physicals seemingly not caring one bit what the authorities and news services are claiming; “poor hedge funds are getting hurt by this gang of non-institutional traders as the Boyz react to the accusations by saying “eabod” (don’t look this up). In fact, WSBz have gained more notoriety after the Congressional hearing as their followers gained, which was around 90,000 before, and now it’s several million. Hey Boyz! Come on in and join our group at JSMineSet, there’s far more “real” inside our subscriber’s side. More importantly, the weekly audio with Mr. Gold himself – Jim Sinclair, and our Boyz, Bill, Dave, and Denny.
I wonder what the next hearing will do to support the new kids on the block, that is, if there is another one? Stay Tooned and get more precious metals before those Billboards get posted. Will the Boyz be putting Billboards up, right in front of the SEC, CFTC, or the Main Stream Media buildings? Just askin’, so keep the faith, hold on tight, and as always …
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Do you understand the meaning of the first chart?
Great and Wonderful Tuesday Morning Folks,
Late last night, I observed the hammer coming back to nail the precious metals lower. To me, the desperation is becoming more obvious by the day, as Gold reversed with the April contract at $1,725.50, up $2.50 after being dipped to $1,704.60 with the high to beat at $1,731.40. Silver has yet to recover, but it will soon, with the May trade at $26.35, down 32.8 cents and recovering from the low of $25.82 with the high starting point at $26.745. On the other side of all this is the US Dollar, the continually printed currency of the world, now valued at 91.135, up 9.9 points after going all the way up to 91.405 before the drop with the low at 91.07. Of course, all this happened before 5 am pst, the Comex open, the London close, and after a Texas judge got arrested for, you know, that thing called voter fraud the SCOTUS can’t, won’t, or refuses to hear, in its compromised court.
The Venezuelan Bolivars latest price for Gold is now at 17,233.43 showing another drop of 172.79 Bolivar overnight with Silver losing 6.19 with the last buy price at 263.17 Bolivar. Further south the Argentine’s are paying 1,007.52 less for an ounce of Gold with the last price at 155,435.30 Peso’s with Silver pulling back 46.49 with the last price at 2,373.85 A-Peso’s. The Turkish Lira’s value took away 10.02 from Gold with the last price posted at 12,643.19 Lira with Silver’s last trade at 193.11, down 2.41 T-Lira’s.
March Silver’s Delivery Demands now stands at 3,872 fully paid for 5,000-ounce contracts and with a Volume of 83 already up on the board with a trading range between $26.385 and $25.86 with the last buy at the high, yet the price is down 36.2 cents from Monday’s Comex close. Yesterday’s full day of delivery trade happened in between $26.99 and $26.49 with the last purchase price at $26.52, up 11.8 cents with the Comex Calculated Close at $26.647, a gain of 24.5 cents that had a total of 519 swaps. Of note during yesterday’s Comex delivery activity, the Demand Count was increased by 4 contracts bringing the total to 4,781 contracts with the reduction of 909 to bring us to todays count. Silver’s Overall Open Interest continues to pull back as another 2,440 contracts left the field of play leaving 158,706 Overnighters to trade against what is left in a warehouse that promises it has the metals but never allows a 3rd source to verify.
March Gold’s Delivery Demands now stand at 919 fully paid for contracts waiting for receipts and a Volume of 444 already up on the board with a trading range between $1,728.50 and $1,708.70 with the last buy at the high, a gain of $6 so far today. Yesterday’s full day of delivery happened in between $1,747 and $1,720.30 with the last swap at $1,720.40, a loss of $7.70 before the CCC was done at $1,722.50, down $5.60 that had a total of 407 swaps that helped reduce the demands by 648 contracts that got receipts, maybe. Gold’s Overall Open Interest is also losing support as another 1,070 contracts left the game leaving 468,198 contracts at the Comex to trade against the physicals helping to prove that most of the activity is happening inside the deliveries.
A type of panic and response can be seen in the commodities. Over the past 3 days, we’ve witnessed the “cleansing of the longs” in Petroleum, Silver, Gold, and the “changing of the shorts” in the US Dollar and all Treasuries with the exception being the short-term Eurodollar. This happened just after Fed Chair Powell, and Treasury Sec Yellen made claims that everything is “old school good” for the Petrodollar. Yet, those discussions didn’t help the 30 year US-T at all with loan rates now above 3%.
The Reddit Apes are taking on the Comex. This time they are asking for, and getting support, under a GoFundMe page for the big “SILVER SQUEEZE” – Billboard Signs. Is that brother Andy Schectman, JM Bullion, SD Bullion, and First Majestic making “TOP” donations? Will there be more funds of support? Stay Tooned! Comex has an obvious problem, and in the famous words of Bill Engvall, Here’s Your Sign!
Make it a great day no matter what, because attitude is everything. So, keep the faith, hold on tight, and look for those sign posts just ahead. As always …
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Dismal Dave with some “hockey stick” looking charts!
JB sent us a “funny”. I often think of this when paying for a meal, they actually gave me food in exchange for paper!
By Greg Hunter’s USAWatchdog.com (Saturday Night Post)
Climate engineering researcher Dane Wigington says the big snow storm that hit Texas and much of the south is nothing short of weather warfare. Look at the snow that won’t burn in video after video. It’s synthetic, but the mainstream media (MSM) is telling you this is a “hoax”. This is anything but normal. Wigington says, “The bottom line in regard to the flash freeze that Texas was just hit with, we can debate the agenda behind these operations, but the fact that this was not an act of nature is beyond scientific question. . . .Those neck deep in the weather modification program are dictating what the scheduled weather will be. Because of the illegal federal gag order on the National Weather Service and NOAA, our nation’s weather people are actually reading scripts given to them by the geo-engineers themselves. We announced on February 6, almost two weeks before this event happened, that this was coming. So, there is no question this was a massive act of weather warfare. This is only a mere extreme example of what’s been occurring all over the globe for decades. It’s getting worse all the time because the unfolding climate collapse is getting worse all the time. It’s being further fueled by climate engineering. Expect such events to continue and worsen rapidly.”
More charts from Dismal Dave.
This is the starting date for gold’s final position as the “Last Man Standing”.
Wall Street Sends a Message to the Fed: We Have Run Out of Places to Stuff Your Treasuries
February 26, 2021
The action in the U.S. Treasury market yesterday reminded us of the classic “I Love Lucy” episode at the chocolate factory. As the conveyor belt churns out chocolate balls faster than Lucy and Ethel can handle them, they resort to stuffing them in their mouths, their hats, and their shirts. Lucy remarks: “I think we’re fighting a losing game.”
That was the scene in the Treasury market yesterday – too much supply and no where to stuff it, causing a sharp spike in yields which set off a stock market selloff that left the Dow down 559.8 points or 1.75 percent on the day, while the tech-heavy Nasdaq fared far worse, losing 478.5 points or 3.52 percent.
That the Treasury market is now projectile vomiting T-notes should come as a surprise to no one. As the chart above indicates, yields on the 10-year note have been rising sharply since early August, with the yield more than tripling from 0.50 percent to an intraday spike yesterday of 1.61 percent. The 10-year note opened this morning at 1.52 percent.