Precious Metals Continue To Be Pressed Lower
Precious Metals Continue To Be Pressed Lower by J. Johnson for JS Mineset
Great and Wonderful Tuesday Morning Folks,
Gold is being hammered upon with the trade at $1,571.90 down $10.50 after being knocked down to $1,569.10 with the high to beat at $1,584.50. Silver is doing the opposite (ok, not leading Gold lower this time), with the trade up 1 penny at $17.68, recovering from the low at $17.61 with the high to beat at $17.770. The US Dollar may be getting all this support from the printing going on in other nations with the trade now valued at 97.735, up 11 points after it reached 97.81 with the low at 97.635. Of course, all of this happened before 5 am pst, the Comex open, the London close, and as China starts to close down some gambling hubs that do not include the exchanges tied to every other global exchange (keeping watch).
In Venezuela, Gold’s value now sits at 15,699.35 Bolivar, giving the buyer a 149.85 discount from yesterday’s quote with Silver at 176.579 Bolivar losing 1.248 since yesterday morning. Argentina’s Peso now has Gold’s value pegged at 94,974.24 showing the gains in currency against a 470.76 A-Peso loss in product value with Silver at 1,068.43 Pesos proving a 4.57 loss. The Turkish Lira now has Gold trading at 9,403.36 as it too shaves off 75.23 T-Liras with Silver doing the same, taking away 0.799 in value with the price set at 105.749 Lira.
February’s Silver Delivery count now sits at 112 contracts waiting for receipts to be delivered between here, the British island, or somewhere in between, and with a Volume of 32 up on the board so far today with no prices or trading range posted. The demand count fell by 9 from yesterday with Monday’s Volume reaching 15 with the trading range unchanged from yesterday’s write up. Silver’s Overall Open Interest continues lower with this mornings count at 228,264 Overnighters proving a reduction of 1,215 Obligations.