Their memes are truly inspirational…
Great and Wonderful Monday Morning Folks
We start the first trading day of Spring with June Gold down $4.30 with the trade at $1,739.70 after the dip down to $1,728.60 with the high at $1,749.20. Silver is still their big problem with the trade at $25.82, down 50.1 cents after the algos dipped it to $25.45 with the high at $26.35. The US Dollar’s value is following the metals with the peg at 91.775, down 15 points, near the low at 91.755 with the high at 92.175. Of course, all of this happened before 5 am pst, the Comex open, London close, and after another eventful exchange regarding WallStreetBetz, the exchange that protect the illegal short selling of shares above and beyond the real numbers, and those doing the questioning in congress. I especially loved it when one of the critters of congress said a website, where uneducated people go to talk about stock markets, could actually damage the markets integrity. Really?
In Venezuela, there may be an issue with my currency calculations, with Gold either trading at 3,134,297,246.46 Bolivars, or 17,375.25 Bolivars. See the issue here, if you type in the word “Bolivar”, you’ll see 3 different currencies with 1 considered obsolete. Silver, under the same currency is either trading at 257.88 Bolivars or 46,518,109.39 Bolivars, don’t know about you, but I prefer the higher prices. In Argentina, Gold is now valued at 158,842.45 Peso’s, a loss of 15.63 since Friday morning with Silver at 2,357.45, a loss of 36.17 A-Peso’s. Turkey latest price for Gold traded at 13,800.33 Lira proving an increase of 1,146.32, after Erdogan fires central bank head over the weekend, with Silver last price at 204.68 T-Lira, proving a gain of 14.08.
March Silver’s Delivery Demands now stand at 941 contracts waiting for receipts with a Volume of 82 already up on the board with a trading range between $25.955 and $25.54 with the last purchase at $25.69, down 60.2 cents so far today. Friday’s full day of trade happened with only one price posted, at $26.055 which had a total of 194 swaps, yet Comex calculated its close at $26.292, a loss of 2.9 cents that helped reduce the demands by 107 contracts. What do you think, did the centrals know that banker in Turkey was fired before we got word? Silver’s Overall Open Interest gained 655 more short contracts bringing today’s early morning total to 161,531 Overnighters to trade against the shortages in the warehouses that will never be confirmed by any third party, or their gig would be up.
March Gold’s Delivery Demands are way the heck up there at 1,179 fully paid for contracts waiting for receipts with no Volume, so far today. Friday’s full day of ICE deliveries happened in between $1,742.20 and $1,733.60 with the CCC at $1,741 which had a total of 13 contracts being swapped. The first 11 swaps were done early Friday morning at the high, the last two were at the bottom, with these trades helping to raise the demand count by 1. Gold’s Overall Open Interest proves a gain of 5,266 paper contracts to trade against the physicals bring the early morning count to 472,882 Overnighters.
WallStreetSilverBacks are claiming their ape-ry has buried the Perth Mint. We’ll see in the future, in the meantime, their meme’s are truly inspirational as we enter the Planet of the Silver Back Apes.
Enjoy the day, get more precious metals at these super cheap prices, Boy Scout Up, and as always …
More J.Johnson content is available with purchase of a JSMineset subscription.