My Hope is That This December is the Christmas To Remember for Silver and Gold!
Great and Wonderful Tuesday Morning Folks,
Gold is trading higher this morning with February Gold now at $1,476.80, up $7.60 and close to the high of $1,477.10 with the low at $1,465.40. March Silver, the little puppy on a leash, is now trading at $17.07 up 10.4 cents with its high at $17.12 and the low at $17.945. Our US Dollar, the one that kinda lost some support after yesterday’s write-up, is now trading at 97.76, down 3.1 points inside a trading range between 97.88 and 97.685 after yesterday’s 41-point drop. All of this was done before 5 am pst, before the Comex Open, after Trump went to London, and before the London close.
We are seeing nothing but stellar gains under the “emerging markets” currency watch with Venezuela’s Bolivar now pricing Gold at 14,749.54 gaining 124.84 Bolivar overnight with Silver now at 170.487, showing us a “pure” 0.999 Bolivar gain. In Argentina, the Peso now has Gold gauged at 88,368.51, showing a gain of 680.67 A-Pesos with Silver gaining 5.33 Pesos with its price now at 1,021.16 A-Pesos. Over in the lands of Turkey, the Lira now has Gold’s value pegged at 8,469.01 proving a gain of 41.20 T-Lira with Silver now getting 97.9047 T-Lira per ounce providing those that hold a 0.2435 T-Lira gain.
Red Silver’s Delivery Count now stands at 1,465 fully paid for contracts waiting for receipts proving a drop of 959 contracts from yesterday’s count and with today’s price range between $16.985 and $16.81 with the last trade at $16.93. To add to this, we also have a Volume of 106 up on the board so far this morning as we wait to see if our Ag buyer needs more before the end of the year and before another round of China, China, China, hits the Import Tariffs Button again AND after Trump said this; We "Better To Wait (to adjust the tariffs) Until After The Election". Going back to what the Silver count is saying, 4,795,000 Troy Ounces of Silver where settled out price-wise, as we wait to see how many of these will become EFP’s that will be transferred over to the “City of No Trust” explained by the Harvey Organ Nightly Update Express.
Silver’s Overall Open Interest continues to fall with the total count now at 203,435 Overnighters, proving a drop of 1,452 Obligations over the past 24 hours. Also, of note is the difference between the all time high in paper Silver which was reached a few times over the years and has been reduced over the last 16 months by 40,761+/-, and with over 10,000 contracts dropping off the day after Silver’s Red Options came off the board. Apparently, I still can’t past this period of time and the true meaning of a 100-million-dollar insurance policy going into December’s 2019 trade.
I still believe the Deliveries, Options Board, and the Open Interest, are all part and parcel to the machine that now has a problem with true accounting procedures and with the help of the CFTC. which was supposed to make sure everything was open and fair, and which is now under the bright spot light of collusion and interference through the eyes of the DOJ, in what was once considered the safest place to trade (Comex). I love the written letters that were sent out by the CFTC commissioners after they stated thousands of man hours were used to prove there was no collusion in Silver, and here we are with the DOJ proving the CFTC couldn’t find its own asshole even if their fingers were stuck up it.
My hope is that this December is the Christmas To Remember when it comes to Silver and Gold. We’ve been thru a lot together you and I, and we have all the facts pointing to our side of the trade. One day the mess will be cleaned up as the printing continues, and the deliveries take control of the price, increasing the holders purchasing power. So, keep the faith, have a positive attitude in your head and a smile on your face, no matter what, and as always ...
Stay Strong!
J. Johnson