The Comex Silver Delivery Demand System has issues, as we observed the opening of the ICE session at 4pm...
by J. Johnson of Fort Wealth
Great and Wonderful Finally-a-Friday Folks!
Gold again, is trading higher but is still stuck in a month long channel with the trade now at $1,477.60, up $5.30 with the high nearby at $1,480.00 and the low down at $1,465.50. Silver is up 13.1 cents with the March contract at $17.080 with the high only a penny away and the low at $18.895. So far today, the biggest mover in the first paragraph is the US Dollar, down 54.4 points with the value pegged at 96.840 after being dipped down to 96.715 with the high at 96.910. All of this has already happened, before 5 am PST, the Comex open, the London Close, after Boris killed the competition, and the starting of the Triple Witch Week.
In Venezuela, Gold is now trading at 14,757.53 Bolivar, losing 17.98 (and as our Dollar loses value) with Silver at 170.587 Bolivar, gaining 1.499 in the overnight. In Argentina, Gold has gained another 8.96 A-Pesos with the trade at 88,362.66 with Silver at 1,021.96 Pesos, gaining another 10.73 Peso's. Once again, this a great way to wake up if you're sitting in a 5,000-ounce contract and on the right side of the trade too! In Turkey, their Lira has Gold's value pegged at 8,570.51 Lira gaining 8.32 with Silver now at 99.0597 Lira, a gain of 1.0755.
It has been our opinion that the Comex Silver Delivery Demand System has issues, as we observed the opening of the ICE session at 4pm pst when the Resolute Buyer stepped in with an immediate 11 lot purchase within the first 15 minutes of trade pushing the price to $16.88, a positive move of 3.5 cents from the COMEX close. It's what happened immediately after this that raises my concern when the very next SINGLE LOT purchase sent the delivery month's price to the negative at $18.825. At this time, the Volume in the trade was at 12 (that 11-lot purchase plus that singular low-price trade), now the Volume is at 16 and the last trade was at $16.855 meaning there were only 4 more purchases over the last 12 hours. How can a single 5,000-ounce trade overpower a 55,000 ounce buy order pushing the value to a lower price? Hello McFly! This is the "fix" in price! The idea a single lot order can outweigh an 11-lot purchase in Physical Deliveries should be questioned and by the authorities, but they will not go there, because they are already complicit, and it's why we are here challenging everything we see. Today's Open Interest in the Delivery Month is now at 635 Demands for Physical proving a 21-count drop from yesterday's tally and with the Volume at 61 posted (yesterday).
Silver's Overall Open Interest had to gain more paper shorts in order to keep the (delivery) price steady with the total count now at 204,436 Overnighters, proving the increase of 517 more pieces of paper vs the real as our Resolute Buyer, still has the shorts up against the ropes.
Normally I wouldn't add any Gold data to my write ups but yesterdays Red Gold Deliveries had more Volume than the that Standing for Delivery. December 12th's Physical Gold Demands stood at 728 (100-ounce contracts) and with a Volume of 755 at the close. Now the Open Interest in the Deliveries Cycle stands at 1,076 fully paid for contracts expanding the physical buy orders by 348 obligations increasing the purchases over 50% in one day. Probably nothing, but who knows?
Friday the 13th is here, and right before the Triple Witch Week too, which should be of interest moving forward. Monday, we roll out of all the currencies that make up the basket of currencies we call the US Dollar Index. Then we observe the rollouts of the old Treasuries into the new. At the same time, we have been witnessing 100's of billions of dollars being printed, over several months, in order for the money changers to keep telling us how wrong we are about the overall markets and specifically the real money of the world's population, Silver and Gold. They have to print in order to tell us how wrong we are, in our opinion, that won't last much longer. Have a great weekend and keep that smile on your face and a positive attitude in the head, no matter what, and as always ...
Stay Strong!
J. Johnson