Silver Deliveries Will Stop It Or Pop It!

There is far more fear to see here as open interest points to another 6,666 more short contracts having to be added, or Silver would have…

by  J. Johnson via JS Mineset

Great and Wonderful Friday Morning Folks,

      Gold is recovering from yesterday’s reopening or “late in the day Ice dip” with the price at $1,892.70, up $2.30 and close to the high, made moments ago, at $1,894.40 with the low down at $1,881.90. March Silver is signaling, but not like it was earlier, with its current price at $26.16, down 2.1 cents, after spiking to $26.27, a minute before, with the low at $25.865. The US Dollar is finally getting some support (or is it shorts liquidating?) with the value pegged at 89.85, up 11.4 points after reaching up to 89.965, with the low at 89.785. Of course, all this happened before 5 am pst, the Comex open, the London close, and after the Austrian Central Bank, decided to fight against the digital currency push, that every other central is trying to pander upon everyone.

       In Venezuela, Gold has gained another 106.86 Bolivar with the last trade at 18,903.34 with Silver’s last trade at 261.273 Bolivar, a gain of 2.647. Argentina’s price for Gold is now at 156,554.20, proving a gain of 1,171.43 A-Peso’s overnight with Silver adding 25.89 with the last price at 2,163.78 A-Peso’s. The Turkish Lira’s newest price for Gold is now at 14,500.52, proving a loss of 103.02 T-Lira with Silver’s last trade at 200.427, a loss of 0.496 of a T-Lira,  as the currency is pushed higher.

      December Silver Delivery Demands now has a total of 497 fully paid for contracts still waiting for receipts and with a Volume of 4 up on the board, which showed up last night (6:08:15pm est) with a lonely price of $26.12, proving a 2-cent gain, so far today. Yesterday’s full day of Ice/Comex trade happened in between $26.18 and $25.45 with the last buy at $26.135, a gain of $1.185, with the Comex Close Calculated at $26.10, showing a gain of $1.15 that had a total of 201 contracts being bought helping to reduce the demand count by 90 contracts that got receipts. There is far more fear to see here as Silver’s Overall Open Interest points to another 6,666 more short contracts having to be added, or Silver would have really popped, leaving me thinking that we will soon see margins being raised in order to support the central banks short trades against the Resolute Buyers bringing today’s early morning total to 170,158 paper contracts. As an added caveat, these central banks and friends, all have the ears of the planet’s commodity exchanges. These same exchanges control all margins, so what’s to stop them all from adding more margins, even at the same time? Deliveries, will stop it or pop it!

      December Gold’s Delivery Demands now stand at 1,891 fully paid for contracts and with a Volume of 15 up on the board with a trading range between $1,889.50 and $1,882.30 with the last swap at $1,888, up 80 cents so far today. Yesterday’s Ice/Comex trading period happened in between $1,896.20 and $1,874.20 with the last purchase at $1,886.50, a gain of $30.40 with a CCC at $1,887.20, a Comex gain of $31.10 that had a total of 414 swaps helping to reduce the demand count by 2,847 contracts, that got receipts, in order to get physicals, maybe. Gold’s Overall Open Interest is also showing the fear the centrals have as another 7,851 more contracts had to be added, or the prices would have made a new LOCH (Life of Contract High), leaving a count of 562,470 shorts to trade against the physicals.

      Ronan Manly found something that could be very important, that goes deep within the issues of precious metals, when he noticed “The One Day CFO Wonder”, who got hired just prior to GLD’s financial year-end. Apparently, Laura Melman resigned the day before the September Due Date, and this man stepped in, took his pay, and immediately quit, after he signed off on the 10-K. Is this why the deliveries in Gold these past few months have been off the charts?

      We can’t have a day without American Politics as we remind our readers that Joe Biden didn’t lie when he stated “Democrats created the most extensive and inclusive voter fraud organization’ in American history”. Let’s face it! This is factual, he said it and there’s no edit! What’s even more hilarious is what facebook has applied when anyone posts this uncut video. “Before you share this content, you might want to know there’s additional reporting from USA TODAY and Reuters Fact Check.” The USA Today’s article these fact checkers used, states “Joe Biden misspoke about his campaign’s voter protection efforts”. Then the other article used to defend the fact checkers and their careers, states the “Clip of Biden taken out of context to portray him as plotting a voter fraud scheme”. No one has to wonder what these services would be saying if Trump said it exactly the same way. I wonder what the hundreds of other news services have to say? Probably not important as these 2 articles. And facebook wants to keep its Section 230 protection.

     Supposedly the president is to get an investigative report on the voter fraud accusations. Not only regarding this election, but a history of foreign interferences in the past as well, maybe. Just how big is this Kraken after all? Is it a tiny Gecko or the one in the “Clash of the Titans”? Maybe something in between.

     While all this and more is going on, we continue to support the idea of buying any amount one can, of precious metals. Every ounce taken away from the central play helps support today’s title. Make gifting of precious metals, a tradition. So have a great weekend, find a smile and use it all day long, enjoy the holiday celebrations, and as always …

Stay Strong!

J. Johnson

More J.Johnson content is available with purchase of a JSMineset subscription.