Precious Metals held in check after the On again Off again Russian invasion

The US Dollar is flat this morning with its trade at 82.515,  down 1/10^th of a point after yesterday’s,  once again,  unbelievable jobs and GDP numbers were posted.   Treasuries have a negative tone in the early morning trade but are still highly elevated beyond belief as we wait for today’s data called Personal Income,  which will also be a bit hard to chew.   Energy Sector hasn’t really moved much at all after yesterday’s RUSSIA INVADES UKRAINE!!!,  then,  oops,  Kiev got caught lying again with its reporting,  with Crude Oil at $94.93, up 37 cents with the byproducts mixed.   The obvious war drums of the desperate western banking system are being ignored for now,  but it seems someone is determined to have a war regardless of who they fight.  Germany seems to have had enough of the European Union as France,  and the southern regions of the union,  continue not to gain new jobs or revenue, but continue to need more money as the finance minister of the only producing nation in the EU claims that the ECB has had enough of the free money ride. This bears watching,  because it could spell interest rate rises for everyone.  Gold,  which we think shocked London by the spike it made in yesterday’s early trade,  has been stymied and is back under control with Gold down $4.40 at $1,286.90 as the Open Interest fell to a new 5 year low of 360,974.   Silver is down as well with its trade at $19.525,  8.4 cents lower with a slight fall in its OI but still way up there OI wise.   The OI in Sept has dropped off to 3,213 (16,080,000 ounces) contracts standing for delivery so far,  we still think our data was skewed over the past week as we watch the delivery procedure.   Today,  all the speculators have to be out of the September contract or they will be put in line for a Receipt/Warrant for 5,000 ounces.   Be advised,  as we roll into next week,  Buyers can join in by going long into the deliverable month as long as they have 100% of the funds to purchase.   Bitcoin is still proving itself to be a leader in the controlling of anti-dollar trades because it continues to be held down with the trade at $505,  down $5 from yesterday’s trade regardless of the shock Silver and Gold placed on the fiats during London’s trade.   Ripple Coin is higher this morning with its trade at $0.005077,  still a great buy into the newer Crypto at super low prices.   Grains are mixed to flat,  Softs are mostly higher with Cotton the only neg,  and the Live Stock Sector is posting positive trades across the board.   Nothing to fear though because the Twisted Sisters of Paper say so with all Indices’ trading higher as we start the last day of the month and as America gets ready for its Labor day celebrations.   Fort Wealth Traders have an edge during the three day holidays because the markets open up for trade in Sunday night at 3pm PST and we’re always here for our traders who see a need to enter or exit a position while everyone else is stuck waiting for the next trading day.   Even though things have remained stagnant in the markets for the past 3 years,  there is a comfort knowing one can reach their broker anytime it’s needed.   Please consider joining the Fort,  have a great holiday and a wonderful weekend,  keep those Precious Metals and Crypto’s close,  and as always … Stay Strong!!

                   JB Slear

866-443-0868 Ext 104

817-717-5489

Fax: 817-764-2537

www.FortWealth.com  

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