Precious metals continue to recover, in ever so slow a fashion, with Gold now…
Great and Wonderful Tuesday Morning Folks,
Precious metals continue to recover, in ever so slow a fashion, with Gold now at $1,858.40, up $7.60 after reaching up to $1,864 and afterwards, down to $1,841. Silver is up 18.6 cents at $25.47 after it reached up to $25.745 then down to $25. The US Dollar is stagnant with the trade up 0.008 at 90.45 after the support was turned on when the value dropped to 90.285 with the high at 90.60. Of course, all this happened before 5 am pst, the Comex open, London close, and after permanently banning Trump, and other conservatives from its platform, Twitter’s stock plummets, apparently someone doesn’t want a president to be heard at all, as his email service was shuddered as well.
Gold under the Venezuelan Bolivar gained 96.88 overnight with the last buy at 18,560.77 with Silver at 254.382 Bolivar, scratching back 4.645. Argentina’s currency now has Gold’s value pegged at 158,563.39 Peso’s adding back 1,173.77 with Silver doing the same, gaining 43.83 with its last price at 2,172.39 A-Peso’s. Over in Turkey, Gold has almost recovered all of yesterday’s pull with the last buy at 13,905.43 Lira, gaining back 145.49 of the 147.38 pull from yesterday with Silver at 190.600 T-Lira, getting back 4.507 from yesterday’s 10.75 hit.
January Silver’s Delivery Demands now has a total of 366 fully paid for 5,000-ounce contracts waiting for receipts with a Volume of 7 up on the board and a trading range between $25.335 and $25.105 with the last buy at the high, up 14.6 cents since yesterday’s close. Monday’s delivery activity had a total of 11 contracts with a full day’s trading range between $25.52 and $24.725 with the last purchase at $24.825 a gain of 24.3 cents, with the Calculated Comex Close higher at $25.239 a gain of 65.7 cents, that only reduced the demand count by 4 contracts that got receipts. Here’s a frustration about Comex and their ways; the way I hear it brokerages have to pay up to $1,000 a month for “live feed” per computer, and the accuracy should be worth something but alas, it apparently doesn’t matter after yesterday mornings post of 175,192 in Open Interest was still up on the board, way after 5 am in the morning, which proved a drop of 86 contracts, yet Harvey Organ, who gets his data after the Friday Night Closing showed a larger drop, which now coincides with today’s Comex numbers, that 5,490 contracts left the field of play, yet Comex keeps those who pay for live feed in the dark, which leaves this mornings questionable Open Interest total to 169,702 contracts trading against the physicals. Also, during yesterday’s trades, Comex upped the physical demand count by 1 from 369 to 370, before reducing it to 366 today.
January Gold’s Delivery Demands now has a total of 136 fully paid for contracts standing for receipts with a Volume of 14 up on the board and a trading range between $1,859.70 and $1,849 with the last buy at the high, a gain of $10.10 so far today. Yesterday’s full day of delivery activity happened in between $1,849 and $1,826.50 with the last buy at $1,847.50, a gain of $13.40 with a CCC at $1,849.60 a gain of $15.50 that helped reduce the demand count by 355 contracts that got receipts, maybe. Yesterday morning’s Comex antics showed 491 in the delivery count way after 5 am, then reduced that by 17 contracts, sometime during the trading day, to 474, then to start this morning off at 136 contracts still waiting for receipts, maybe. Gold’s Overall Open Interest at the Comex also got skewered over Sunday night and yesterday, with today’s starting total at 553,842 paper contracts to go against the physicals, reducing the count by 13,325 contracts. Yesterday morning’s tally (which I prove several times with my calculator before I post) revealed a drop of 1,018 contracts. Which gave us the idea that the Resolutes were standing strong. If the Comex computers can’t keep up on accuracy, why does anyone have to pay for it?
There is no doubt, regardless of which president one wants, the chatter going on is way beyond anything in the past. Putting this all together is impossible, for now, yet precious metals are telling us nothing to see here, all is well.
Keep your metals close, and get more while you can at these cheap prices. Surprise or Not, Silver and Gold should have moved higher already, much much higher. As always
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