After the exclusive temper tantrum at the Comex subsided, Gold has reversed…
Great and Wonderful Tuesday Morning Folks,
After the exclusive temper tantrum at the Comex subsided, Gold has reversed, with the trade at $1,877.50 up $23.10 after reaching up to $1,888.90 with the low at $1,858.90. Gold actually started its reversal moments after the Comex close (after the negative $97.30 was posted), which was only $6 above yesterday’s low, so most of the retracements happened during the ICE trades. Silver suffered more yesterday, because its Silver, with the trade now at $24.185, up 48.4 cents after reaching up to $24.49 with the low at $23.95. Yesterday’s Comex Calculated Close for December Silver Futures was contained at $23.701, down $1.961 with the low right there at $23.60. Once again, we see the ICE recovery, and the obvious signal that this move was an attempt to scare anyone and everyone away from precious metals. The US Dollar is now trading at 92.82, up 10.5 points with the high nearby at 92.965 and the low at 92.585. Of course, all this happened in what is called fair markets, before 5 am pst, the Comex open, the London close, and as more and more of those that count the vote are being question for the way they counted and how the dead, illegal, or multiple filings for Joe, are being removed properly and under legal terms. There was never an allowed delayed count before and there never should be one ever.
In Venezuela, Gold’s price is worth 18,751.53 Bolivar, giving today’s buyer another 391.51 discount with Silver’s price at 241.548 down 7.44 Bolivar. Argentina’s price for Gold is now at 148,815.64 A-Peso’s showing a 2,654.51 discount with Silver losing 53.32 A-Peso’s with the last trade at 1,916.94. The Turkish Lira’s price for Gold reversed showing a gain of 129.40 T-Lira with its last trade at 15,542.01 with Silver at 200.114, down 0.387 of a T-Lira from yesterday’s tally.
November Silver’s Delivery Demands now has a post of 270 fully paid for 5,000-ounce contracts waiting to get receipts and with a Volume of 6 already posted up on the board with a half penny trading range between $24.215 and $24.21 with the last swap at the low, a gain of 52.5 cents so far since the Comex paper attack. Yesterday, there were no swaps/buys/sells at all in the delivery month, but 4 buyers did get receipts for their purchases. Yesterday’s frantic attempts to scare out long traders may have worked, but I think it may be the hedgers, that only have to hold $660 per calendar spread, instead of the $16,500 margin for a single speculative contract, that controlled the roll as we witnessed 5,956 long/short-contracts exiting the trade leaving a total of 153,743 in Overall Open Interest that trades against the physicals. In my positive outlook, these speculators may have very very deep pockets and are excited to see all this activity.
November Gold’s Delivery Demands now has a total of 801 fully paid for contracts waiting for receipts and with a Volume of 24 up on the board with a trading range between $1,885.30 and $1,871.20 with the last trade at the low, up $18 so far today. Yesterday’s activity happened in between $1,963.20 and $1,847.10 with the last buy at $1,858.20 with the Comex Calculated Close at $1,853.20, down $97.10 that had a total of 745 swaps which raised today’s demand count by 434, proving Mr. Resolute is still Resoluting in November. Yesterday’s Volumes in both Silver and Gold exceeded their Open Interest numbers, this may be another internal signal, suggesting the Algo’s may have reversed their course and are ready for a new direction, onward and upward. This mornings Open Interest in Gold proves 12,051 long/short contracts exited the trade leaving a total of 560,132 Overnighters to go against the buyers of physicals, until there’s no more physicals to deliver.
Team Biden is pushing forward, apparently talking with foreign dignitaries, even though the legal electoral process is not finished, helping to prove there is a real issue with this one party that is telling everyone unity is what they want, yet the wonderfully inept AOC wants to cancel those who worked for Trump, or to remove them from their government positions. Pennsylvania’s own, have proved the DNC forcefully removed Republican counters from counting or verifying the votes. We will remain asking why is this one party allowed to break every law in the book without financial and legal repercussions? The Republican attorney general has announced legal actions are moving forward over Pennsylvania’s mail-in voting.
DJT Jr. reminds us that his father, still our president, has this Big Red Release Button on his desk, and he ain’t afraid to use it. “Amid all of the election ramifications and discussions, Jr. outlined a thought today that has likely been on the mind of many, myself included.”…“Declassify Everything”. The oddity of it all is somehow, every single Glitch has benefitted the democratic candidate in almost every state that had a glitch, what are the odds of that? During the refusals of having the Republican Party observe the count, Biden supposedly gained over 1 Million votes in Pennsylvania since the morning AFTER the election!
John Solomon (formerly an executive and editor-in-chief at The Washington Times) claims Mark Zuckerberg sent at least $350 million to election judges in mostly Dem areas. If true, why would the Zuck spend money only on Democratic judges? Is there a Section 230 promise involved? Let the money trails be viewed, let us see who benefitted the most and who is attached to that wallet.
In the meantime, keep calm! Law and order is, what we live by and by God Almighty, we’re living it now. So, keep the faith, have a smile on your face for every other law-abiding citizen, and as always …
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