Activity behind the price is what we call our “Tell”, and it’s telling us things are not normal…
Great and Wonderful Monday Morning Folks,
The real stuff is in demand with Gold trading at $1,757.80 up $4.80 after hitting $1,776.70 before London did it’s usual, with the low at $1,753.50. Silver is still leading with the trade at $18.165, up 14.3 cents after it reached $18.36 with the low at $18.05. The US Dollar’s value is now pegged at 97.415, down 16.2 points and is once again in the middle of the trade with the high at 97.70 and the low at 97.25. Of course, all this happened before 5 am pst, the Comex open, the London close, and after AOC, stated that tricks where made to keep Trump supporters from coming into the Tulsa gathering. No matter what she says, her lasts days as a political waitress is here, apparently, she got a bad review and won’t be serving another round.
In Venezuela, Gold’s price now sits at 17,556.03 Bolivar, proving a gain of 170.78 so far with Silver at 181.423 Bolivar, gaining 2.846 since Friday’s trades. Gold under the Argentine Peso is now at 122,572.52, a gain of 1,353.10 Peso’s with Silver gaining 20.88 A-Peso’s with the last trade at 1,266.78. Gold is also gaining strength under the Turkish Lira with the latest value priced at 12,054.65 proving a gain of 123.15 with Silver also trading in the positive at 124.573, gaining 1.943 T-Lira since Friday mornings last quote.
June Silver’s Delivery Demands are just about done with this coming Friday being the last day for Mr. Resolute to step in like he did with Gold last Friday, with Ag’s demand count at 8 and once again, with no Volume or trades to report. Friday’s end of day delivery activities also had nothing to report but we did confirm 1 purchaser got his receipt as the count dropped by that one lone number. Silver’s Overall Open Interest elevated even more on Friday’s rally as another 4,747 short contracts had to be added in order to keep the price from really jumping. This brings the total count to 181,870 Overnighters willing to take on the physical buyers, as we get closer to proving these additions, are the only things they can do, to control the situation as they attempt to take out all the Deep In The Money Call Options, which expire this Thursday. One day these massive short trades, will be forced out. We believe we are getting closer and closer to seeing that day!
June Gold’s Delivery demands gained 784 more requests for physicals inside Friday’s trades, with today’s Volume at 110 with the demand count at 927 inside a trading range between $1,764 and $1,750.50 with the last trade at $1,751.10 raising the price by $5.20, so far today. Friday’s Volume proved 1,329 contracts swapped hands with the full day’s trading range between $1,750.70 and $1,723.50 with the last buy at $1,745.90. The numbers don’t jive as usual, so we have to assume someone got their receipts the day they bought. Thank you, Mr. Resolute for stepping in like you did. Not only did Mr. Resolute stroll into the physicals like a king, the shorts had to add another 23,646 more contracts into the mix in order to keep things steady. At the end of the day we also got a notice that the margins for Gold were lowered as well. All this activity behind the price is what we call our “Tell”, and it’s telling us things are not normal.
This weekend’s Trump gathering in Tulsa overshadowed something we think may have a bearing on the future of just about everything, as Geffrey Berman refused to step down as US Attorney for the Southern District of New York after Attorney General William Barr legally and properly replaced him … “I have not resigned, and have no intention of resigning, my position, to which I was appointed by the judges of the United States District Court for the Southern District of New York.” .. In a Saturday evening statement, Berman admitted he will be leaving his post “effective immediately“. Did he fail to realize he was fired? This individual has been sitting on Wiener’s laptop, Bill and Hillary Clinton’s Foundation investigation, all those missing emails, and a few more juicy tidbits of importance. What we don’t know yet is if this same individual is also involved with JP Morgan’s investigations, or if Brian Benczkowski’s immediate retirement, as head of DOJ’s Criminal Division is part of this story? On another note Brian Benczkowski was a defense attorney, not a prosecutor, maybe that means something as well. What we do know for sure and for certain is Jay Clayton, currently the Chairman of the Securities and Exchange Commission, will be serving as the next United States Attorney for the Southern District of New York. Q Post 4484, is stating there is much much more going on here;
Importance of SDNY control?
Weiner evidence collection
Epstein evidence collection
(focus on above [for now])
Things are not only heating up in US politics and our markets, this first trading day of Summer; China and India’s border dispute, is adding some heat to the mix as well as India’s troops are given ‘Fire At Will’ orders against their antagonists, the Chinese troops. Lots of activity is already up on the screen so far to start this week. All we need to do is hold on to what is real, and let the markets fly. So, keep the faith, hold on tight to your metals, have a positive attitude no matter what, and as always …
More J.Johnson content is available with purchase of a JSMineset subscription.