The last 3 days of physical purchases totaled 3,788 physical buys, or around $687,522,000 worth of product. Gold’s Overall Open Interest…
Great and Wonderful Wednesday Morning Folks,
The day after the December Options expired, Gold is starting its price recovery with the February contract trading at $1,815.10, up $4.20 after hitting a low of $1,804.70 with the high to beat at $1,819.10. Silver is up 6 cents with the March contract at $23.47, recovering from the low at $23.21 with the high to beat at $26.64. The US Dollar refuses to budge, even with all the election fraud allegations that will not go away, with its calculated value at 92.22, unchanged after hitting a low of 91.935 with the high at 92.255. Of course, all this happened before 5 am pst, the Comex open, the London close, and after another Senate Report reconfirming the Biden Family deal with the CCP.
Gold under the Venezuelan Bolivar continues to trek lower with the trade at 18,128.31 Bolivar, a loss of 8.99 overnight with Silver’s last price at 234.407, a gain of 0.899 Bolivar. Argentina’s Peso price for Gold is now at 146,335.73 showing a gain of 549.26 A-Pesos with Silver’s last trade at 1,892.04 A-Peso’s, showing a gain of 14.94. Gold under the Turkish Lira is now priced at 14,466.26, a gain of 52.40 T-Lira with Silver adding 1.497 T-Lira’s with the last trade at 187.061.
Today is the last day to buy a November contract to stand for delivery before we roll into the December Contract (Monday) with this morning’s Delivery Demand Count at 2 and with a Volume of 1 up on the board with no price posted, proving a spread trade entry into the buy side. Yesterday’s full day of delivery activity had a 3 lot Volume posted up on the board, with a $23.33 agreed upon price, with that 2 lot, that was already standing, plus one more of yesterday’s purchases, getting their receipts that had a closing price Calculated at $23.292, losing 33.2 cents because Comex says so. Silver’s Overall Open Interest dropped 1,061 shorts, which exited the field of play leaving 162,485 paper contracts to go against the physicals.
November Gold’s Delivery Demands now sit at 1,046 fully paid for contracts waiting for receipts and with a Volume of 2 up on the board and with 2 prices. The high at $1,803.80 and the low at $1,801.40 with the high being the last trade so far today. Yesterday’s full day of activity had another one of those spread trades going into delivery as we witnessed 1,041 contracts being bought under the Volume Column, as a spread trade exit into the delivery. As a reminder this is what the Comex Delivery dealers told me happens when no prices are given, either a spread entry, or exit, would have happened. If the Open Interest gains, it was a spread entry into the buy, the opposite when the OI drops, maybe. Yesterday’s full day of activity raised the Demand Count by 226 fully paid for contracts with a trading range for the day between $1,829.30 and $1,799.30 with the last purchase price at $1,801.30 (when 1,037 contracts were purchased) with that CCC at $1,804.80, down $33 at the Comex close. This leaves one questioning the 1,900-lot purchase made last Friday, going into the Comex Options Expirations; was there another purpose or was it simply another massive Resolute buy? The last 3 days of physical purchases totaled 3,788 physical buys, or around $687,522,000 worth of product. Gold’s Overall Open Interest lost 7,510 shorts to go against the physicals, proving that their paper contracts still control the physicals until there is no more to sell.
Lin Wood has subpoenaed Ga. officials for video evidence….The veteran attorney is specifically interested in videos from room 604 and the elevators around it. He believes ballot dumps and tampering took place at the State Farm Arena when officials stopped the count due to a “burst water pipe,” which actually never happened. What are the odds those videos were mistakenly destroyed by water?
This election ain’t over yet, and I am enjoying who the claimed winner (ignoring the contesting challenges) has picked so far, for the Biden transition team, as their resurrection continues. Honest Gary Gensler, who helped John Corzine out with phone conversations over the weekend before MFGlobal went bankrupt, then quit his job to dodge the Senate hearing, is mentioned to be chairing the financial policy transition team. Then they have John Kerry, to lead us back into the Paris Accord guided by those that think all climate change (which includes Winter, Spring, Summer, and Fall) is 100% man’s fault, and will lead us into the “How Dare You challenge our political views over real science” accord. Then we have the wonderful rumor of Hillary Clinton being considered as a high profile representative somewhere in the Biden team. I’d wager Russia is looking forward to having her foundation resurrected again, so they can buy more of our Uranium, without us knowing. Ahh yes, the status quo is here again, maybe. That is, after the court challenges have been settled out, like Al Gores and the “Chad” Challenge in Florida, where a single county held up the nation’s election.
Happy Thanksgiving to all. Keep your family and precious metals close, and as always …
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