Great and Wonderful Friday Morning Folks,
20 minutes before I started writing, Gold began the London Dip to $1,932.70 with the trade now at $1,934.60, down $12 with the high to beat at $1,963.10. Silver is doing the London thing as well with its trade at $27.035, down 26.6 cents after hitting the nearby low at $27.01 with the high to beat at $27.75. The US Dollar, is still getting support with its value pegged at 93.17 up 39.2 points, recovering from yesterday’s 10.2-point drop, and after hitting the London high of 93.24 with the low we expect to eventually be blown out at 92.565. Of course, all this happened before 5 am pst, the Comex open, the London close, and after the Chicago Mayor Lightfoot, tells protestors they are welcome to peacefully burn, loot, and riot, in the city, where taxes are made and drawn, by businesses that are supposed to be protected by the defunded police, that are paid with tax dollars, but not allowed to riot, burn, or loot, on her own homes block. Oh Yeah! and its Trumps fault.
Venezuela’s price for Gold now sits at 19,321.82 Bolivar, down 91.88 since yesterday with Silver price at 270.012 losing 2.197 Bolivars. Gold in Argentina is now valued at 142,143.31 Peso’s dropping 561.21 A-Peso’s with Silver price getting another 14.35 A-Peso shave with the trade at 1,986.55. Turkey’s Lira now has Gold’s value pegged at 13,958.50 showing another 322.54 T-Lira reduction with Silver’s price at 195.103 T-Lira, pulling back another 5.165.
August Silver’s Delivery Demands now sit at 15 contracts and with a Volume of 22 already up on the board (Mr. Resolute, is that you?) and there’s a trading range to boot! Between $27.475 and $27.055 with the last swap at $27.125, up 3/10th’s of a penny so far while the London paper swing – does its thing. Yesterday’s Comex deliveries had zero trades but did have 4 contracts finally getting their receipts, reducing the count from 19. Silver’s Overall Open Interest continues to shave the shorts as another 916 pieces of paper exited the scene leaving 192,422 in Open Interest to go against the physicals.
August Gold’s Delivery Demands now show 290 fully paid for contracts waiting for receipts and with a Volume of 25 up on the board with a trading range between $1,945 and $1,940, until the last London swap “hit the tape” at $1,908.90, now down $24.90, so far today. London’s pull has to be noted here! Just before these 2 sell trades hit the tape, the last Delivered Gold price was at $1,943.40. A positive price proving a gain of $9.40 before the 2 lot sell order hit and after the 23 contracts traded in the positive. The game London plays is taking away their marbles and in time, they will have no choice but to allow the markets to trade freely, in order to find the physicals. Gold’s shorts are continuing to drop out as well as another 892 pieces of paper left the playground leaving a total of 547,112 Overnighters still in play to go against the physicals.
Our Federal Reserve has now decided to go on the attack during the 2020 presidential campaign, many months after Trump nominated Judy Sheldon to chair one of the open spots on the “reserve”. Of note; whenever our beloved former Congressman Ron Paul brought up a US Silver and Gold backed currency (like we had before the Federal Reserve was created, 12/23/1913) during the many many of the televised hearings over the decades he was on the committee, we would see our socialist media services go to commercial, or pop in with a “just in news story” about a cow that crossed the road in an Amish village. We have witnessed the Fed game for too long to believe anything they say because they cannot compete against anyone who understands what came out of that middle of the night illegal act by Congress. IMO, now it appears the Federal Reserve “specialists” are fighting for their jobs (control), by any means possible, as we see the Sheldon nomination aiming to remove the Reserve and place the responsibilities back into the hands of the US Treasury, where it belongs!
The present story is no different than Andrew Jackson’s, when he too was running for his second term when London’s own Nicholas Biddle, head of the Second Bank of the United States, did anything and everything possible to get Jackson out of office, including threatening to destroy the economy. G. Edward Griffin, who authored the book, The Creature From Jekyll Island, and was interviewed here on JSMineSet, last October, after the September Bond Event, helps clarify what happened back then and it is ironically the same now. After her nomination, Judy Sheldon was called a GoldBug. All she did was laugh hard after being labeled that, and said those that support the Federal Reserve are FedBugs. So now we have a great labeled clarification; FedBugs Vs. GoldBugs, and once again we’re in the fight for control of our countries money that has been taken away from the US Treasury.
History proves; Paper loses to Rock, Always! So, get as many precious metals rocks in hand and hold them close. We haven’t seen volatility like those in the emerging markets yet, but we will, and when that happens, you will be thankful to be well rocked. So have a great weekend, have a smile on your face and a prayer for all, and as always …
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