The shorts are going to have to scare out some very strong Resolutes for this next delivery month to…
Great and Wonderful Monday Morning Folks,
Here we are, inside the last days of the April Deliveries, with June Gold trading flat to lower at $1,776.30, down $1.50 and close to the low of $1,773.60 with the high at $1,783.10. Silver is in the green, with the July contract up 4.1 cents at $26.155 after hitting a low of $25.935 with the high at $26.235. The US Dollar is as flat as can be with the trade at 90.845, up 0.006 and close to the high of 90.87 with the low down at 90.655. Of course, all this happened before 5 am pst, the Comex open, the London close, and after the best gathering ever for this sporting event happened in Florida, as the unwoke UFC 261 returned “a sense of normalcy to the sports world” last Saturday night.
Gold under the Venezuelan Bolivares is now worth 4,442,906,246 proving a pullback of 52,176,454 Bolivares since Friday morning with Silver losing 589,615 with its last trade at 65,431,755 Bolivares. In Argentina, Gold is trading at 165,417.26 Peso’s showing a pull of 1,056.98 with Silver showing a reduction of 9.06 with its last buy price at 2,436.14 A-Peso’s. Even in Turkey, the pullback in the price of Gold stands against the crypto news surrounding the nations freefalling economy with the last trade at 14,781.80 Lira’s showing a drop of 137.23 with Silver losing 1.61 T-Lira’s with its last buy at 217.46.
April Silver’s Delivery Demands now shows a count of 52 fully paid for 5,000-ounce contracts waiting for delivery and with a Volume of 34 already up on the board with a single price at $26.06, down 1.7 cents, so far today. Hello Mr. Resolute! Friday’s activity, before this past weekends “John Adams interview with Jim and the Boys”, had a total swap of 36 contracts posted up on the board between $26.24 and $26.025 with the very last buy at $26.06, a loss of 11.4 cents on the day, with Comex Calculating the Close at $26.07, a loss of 9.7 cents which only reduced the demands by 3 contracts. Is someone jumping into the April deliveries before the closing of the contract? Stay tooned! Silver’s Overall Open Interest lost only 50 contracts, since Friday morning, with the total count at 172,975 Overnighters doing the dirty against the shortages in the real product. As an added caveat, the May contracts now total 56,381 contracts, which equals 281,905,000 ounces, or over $7billion in paper with only 4 more trading days to go. The shorts are going to have to scare out some very strong Resolutes for this next delivery month to be considered “normal”.
April Gold’s Delivery Demands are Super Resolute with the count now at 2,319 fully paid for 100-ounce contracts waiting for receipts with a Volume of 350 already trading in between $1,779.70 and $1,770.80 with the last swap at $1,771.10 a loss of $5.90 so far today. This Delivery count represents 231,900 ounces of delayed physical, or $410,718,090 in paper with 2 more days for the banks to deliver, and that doesn’t include the swaps that have already occurred. Tick Tock! Friday’s full day of Delivery activity happened in between $1,794.50 and $1,772 with the last swap, priced at $1,777.10, a loss of $4.10 with the CCC at $1,777, down $4.20 that had a total of 332 swaps which raised the demand count by 196 additional contracts. The physical demands are not the only ones showing an increase, so is the Overall Open Interest, as another 795 contracts got added bringing the total count to 477,495 paper contracts to trade against the physicals.
This weekend’s interview seemed to bring it all together. John Adams, the Aussie Economist delivered some well needed hard facts from Down Under, with Jim laying it all out as the global game against the physicals may be coming to an end! This game of deliveries has an overwhelming issue with international warehouses. With Perth, and Kitco, delaying deliveries and not calling their actions a default, it’s only a matter of time before other international warehouses start to come up with excuses for not delivering what is allocated. There was so much talked-about in this interview, one could go many different ways towards the conclusion that the paper game of control is just about over, and as the physical deliveries prove it!
Enjoy this interview, consider listening to it a couple of times, and buy more physicals at these cheap prices while you can. The premiums won’t matter much, once the prices exceed their LOCH’s, while the excuses fly as well as the prices, as the world goes into digital overprint, to keep the fiat system on live support. As always …
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