The Comeuppance’s are coming to both politics and precious metals, maybe at the same time too…
Great and Wonderful Monday Morning Folks,
What a night and early morning of movement we’ve had already, with Gold now trading at $1,872, down $14.10 and recovering from a low at $1,861.50 with the Sunday evening high up at $1,898. Silver is down 34.5 cents with the last trade at $24.443, recovering from the London dip, at $24.26 with the Sunday evening high at $25.155. The US Dollar Index is still not budging much with the latest peg at 92.67, down 8 points, up from the low at 92.435 with the high not that far away at 92.785. Of course, all this happened way before 5 am pst, the Comex open, the London close, and after China’s CB had to add some calming cash into the markets after its state-owned enterprises led a bond selloff last week. This couldn’t have anything to do with their “super recovery” they had after their Biolab f**kup could it? Maybe it’s more of a truth that 184 nations are not buying China or its story anymore, so they print.
In Venezuela, Gold is now priced at 18,696.60 Bolivar, proving a reduction of 127.84 in price with Silver losing only 0.12 of a Bolivar with the last trade at 244.124. Argentinians are now buying Gold at 149,274.96 A-Peso’s, a reduction of 575.28 with Silver’s last price at 1,949.46, a 5.18 A-Peso price reduction since Friday morning. Turkey’s Lira now has Gold valued at 14,492.06 showing an 18.75 T-Lira reduction with Silver prices still gaining with the last trade at 189.225, up by 0.822 of a T-Lira.
November Silver’s Delivery Demands now has a post of 117 fully paid for 5,000-ounce contracts waiting for receipts and once again, with no activity at all posted yet they closed the Delivery contract out, on Friday, at $24.759, a gain of 46.9 cents. All of last week’s physical purchases was pathetic; only 11 contracts swapped hands raising the demands by 2 contracts (over the entire week) then reducing the count by 159 contracts on Friday, leaving us the impression that someone finally got their receipts after being forced to wait so long for Comex to deliver. Silver’s Overall Open Interest is still proving the situation at the Comex, is not about the posted prices, but the deliveries, as another 1,400 contracts had to be added to provide liquidity, during the calendar rollover, the soon to occur December Options expirations, and after the past demands, were finally met, leaving a total of 160,727 short contracts to trade against the real.
November Golds Delivery Demands now has a post of 315 fully paid for 100-ounce contracts waiting for receipts, and like Silver, with no Volume posted, so far this morning. Friday’s activity happened in between $1,890.10 and $1,876.80 with the last trade at $1,885.70, a gain of $13.10 that had a total Volume of 240 swaps, which in turn, raised the demand count by 54 contracts. All of last week’s physical purchases totaled 1,703 contracts, leaving me the impression that someone needs physicals now, and before the election is finalized legally, and outside the main stream press whores’ pathetic presentations. Gold’s Overall Open Interest is now at 557,427 Overnighters willing to go against the physical buyers, reducing the paper contracts by 2,355.
Since November 5th, the 30 Year Treasuries, 10- and 5-Year Notes, have started to do some wild swings, mostly aiming towards higher rates of return, which is, going in the opposite direction of other foreign central banks, who are already giving money away, to those friends they have, that can borrow (negative rates). The Eurodollars, (US Dollars in overseas banks) the most liquid Treasury Instrument out there, has not budged at all. When it does move, everything will change.
I am trying my best not to write about the Biden/Harris/Media claims of a win, because the process is still not done, and I am pissed about the lefts demands that I accept their obvious voter frauds. Democratic loser Al Gore, finally conceded on December 13th after the chad fiasco in Florida. Why the left demands the acceptance of their theft, before the legal process is completed, is typical of the way they have acted out as witnessed over the years. I do not expect the left to be quiet or peaceful at all, because they do not lead by example, they lead with lies. The Comeuppance’s are coming to both politics and precious metals, maybe at the same time too.
With precious metals prices now turning and going green, I offer my best and positive thoughts to you and yours. Hold on tight to law and order, precious metals, and those that do the same. Keep the faith and watch the events unfold. As always ….
More J.Johnson content is available with purchase of a JSMineset subscription.