Precious Metals Trade Lower

The international currency of choice, the US Dollar, is steady and unwavering, as if nothing will move it…

by  J. Johnson via JS Mineset

Great and Wonderful Friday Morning Folks,

      We start the day with a precious metal pullback with Gold down $14.70 with the April contract at $1,854.60, recovering from the London low at $1,848.10 with the high to beat at $1,874.10. Silver is leading the percentages today with the March contract at $25.40, down 45.4 cents, after it too, hit a low in London at $25.195 with the high to beat at $26.045. The international currency of choice, the US Dollar is steady and unwavering, as if nothing will move it, with the trade at 90.17, up 4.3 points inside a tight trading range between 90.05 and 90.275. Of course, all this happened before 5 am pst, the Comex open, London close, and after Biden, made a decree that masks must be worn at all times on federal properties by everyone. Except when celebrating an election, at the Lincoln Memorial, with the white house spokesperson, downplaying the newly elected who violated their own law, as they lead by example.

      In Venezuela, Gold is now trading at 18,522.82 Bolivar, taking back 200.74 from yesterday’s gains with Silver at 253.68, pulling back 5.79 Bolivar. Argentina’s Peso price for Gold is now at 160,310.65, a 1,565.52 pullback with Silver down 48.03 A-Peso’s with the last price at 2,195.23. Gold’s price in Turkey now rests at 13,746.61 Lira, showing a 47.75 pull from yesterday with Silver’s last price at 188.27 T-Lira, losing 2.90.

      January Silver’s Delivery Demands now show 124 contracts waiting for delivery with a Volume of 1 up on the board and no price. Yesterday’s delivery activity was a big fat zero with the exception that 120 fully paid for 5,000-ounce contracts, may have been delivered, with Comex settling the day out at $25.882, a gain of 8.8 cents. Silver’s Overall Open Interest gained another 813 contracts, to add liquidity, bringing the early morning total to 169,933 contracts.

      January Gold’s Delivery Demands now stand at 10 contracts waiting for receipts and with no Volume or Price, so far today. Yesterday’s full day of trade happened in between $1,868 and $1,866.80 with the last buy at the high, up $2.10 with a Comex Close at $1,865.30, a gain of 60 cents, where no trade was made helping to reduce the demand count by 2. Gold’s Overall Open Interest, as of this early morning, lost 3,246 paper contracts that trade against what’s supposed to be in Comex warehouses, bringing the count to 546,052 Overnighters.

     Enjoy the weekend, keep that smile on your face and a prayer for all. As Always …

Stay Strong!

J. Johnson

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