Did The Silver Shorts Blink?
Did The Silver Shorts Blink? by J Johnson for Web Bot Trader
After a weekend of rest Gold continues to ink out a higher value with the trade at $1,517.70, up $9.20 and close to the high at $1,519.90 with the low below the Maginot line at $1,498.60. Silver is following with the trade at $16.975, up 4.4 cents with the high so far at $17.005 and the low at $16.80. The US Dollar, which will eventually be forced lower, is still holding onto its value with the trade at 97.35, up 2.8 points after reaching up to 97.55 with the low real close at 97.29. All of this happened before 5 am pst, the Comex open, and the London close.
Our emerging markets currency watch shows Gold still gaining with Silver still dragging its feet, barely that is. Venezuela’s Bolivar has Gold priced at 15,158.03 proving a gain of 22.97 with Silver now priced at 169.538 showing a loss of .449 in Bolivar value. Argentina’s Peso has Gold valued at 68,735.34 showing a gain of 279.54 A-Peso’s with Silver at 768.709 losing 0.158 A-Peso’s over the weekend. Turkey’s Lira has Gold priced at 8,421.03 giving their people a gain of 88.99 in T-Lira value with Silver now at 94.1701 proving a slight gain of 0.607 T-Lira.
The August Silver’s Delivery count continues to weaken with the demands now at 190 fully paid for receipts proving a drop in count of 66 requests, delivered either here or in London, and with a Volume of 7 up on the board so far this morning with an added feature of a trading range of $16.875 and $16.860 with the low being the last price traded. Silver’s Overall Open Interest is now at 238,794 Overnighters giving us a possible Silver Shorts Blink in the staring contest of a lifetime proving a drop of 4,997 Obligations since Friday morning’s early count. Hopefully, the Silver Shorts will blink some more, a lot more.