A rare evening raid on tonight’s Globex saw silver smashed from $29 to $28.50 in 3 ticks, with gold also dropping vertically back to $1585.
Silver smashed .50 on the first wave of the raid to $28.50, with the bottom of the recent $28.50-$29.50 range holding for now:
While silver is recovering strongly off the lows, it appears likely that the cartel will attempt to take out the stops in the $28.40-$28.50 level over the last 2 days of the week.
Gold also was treated to a vertical drop, with support holding at $1585:
With the CFTC reportedly now discussing gold & silver manipulation on the London fixes, apparently our bankster friends have been forced to temporarily change their MO for their daily paper futures dump.
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_silv.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_gold.gif)
ASE dollar purchases every 3 months.
Data set from endlessmountain
Idea from Drutter
The latest 3 months ASE projection is around 15MM ASE’s to be sold.
American Silver Eagle Sales Projections for 2013
Low= 48.4MM
Med=54.2MM
High=60MM
2011 All Time High=39.8MM
@Battle Beagle: I know what I’m about to suggest is ambitious and would involve a ton of work. But expanding the analysis to include as many physical sales programs as possible versus the price would make for VERY POWERFUL data. I’m talking aggregation of all the national mint programs (Canada, Mexico, Perth Mint, U.K., Austria, EU, China, Russia, etc…) and the big, well known private mints (e.g., Northwest Territorial, etc.). It would involve a lot of leg work. I’d be willing to help. It would make for some fantastic data output, however.
@Wombat
If we can get all the data sets together with total number of oz’s sold, it should only take a hour or less to input all the data. The main problem is getting the historical data with number of oz’s sold by month by coin/bullion type. I already have the average silver price data and the ASE data. If you want to PM me with links to the data, I can work on it in my free time.
I’ve been calling for other mints to be considered also. Interesting is that they likely all have their own supplies of silver.
US Mint only needs the 1oz rounds in their size (sme as Mexico Libertads?). Perth mint has 2 sizes of 10oz, 2 sizes 10oz, a kilo, etc. And a whole diiferent mining sourcing likely?
BTW, Netdania only shows $28.60 as a low. Kitco (SD source) are a bit market makerish.
Battle Beagle@: Let’s go for it. I’ll make a list of all mints and look into data availability. I might be able to start that project over the weekend. I’ll PM later, when I’m ready to pitch-in.
XC Skater@: The US Mint uses blanks of various sizes. They’ve got their sizable commemorative coin operation, and it’s rare that those coins are 9999 1oz silver coins — they can be 5oz like the “America the Beautiful” series, for example, or even the silver quarters produced under the same program.. Commemorative coins are issued in gold too. They also do proof sets with silver. Basically, what we’d be after is a total ounce figure that would have to be manually derived. That should be easy for the US Mint’s production. Russia? China? …probably harder to nail down, but in the least it’ll be interesting to look at what and how they publish their data.
@Flying Wombat I have been compiling data since last summer. I can show you what I’ve got so far as soon as I update for the past 2 months. The guy in the video mentions he uses the yearly highs, I used average price which tells a more accurate story.
It’s a bit odd how the attack times are rotated. It’s been a while since we’ve seen consistent attacks near the Hong Kong morning trade. Maybe that’ll start-up again.
Links to my data sets and credit to the gentlemen below:
Data set from endlessmountain
Idea from Drutter
Looks like silver has recovered nicely from the raid…. almost back to 29. I’m curious to see what the morning holds when the crimex opens up.
we didnt even have to wait that long. anoter day in paradise.
Here is my less exaggerated chart using just US mint sales for 2000-2013. I estimated 2013 sales using standard deviations for each month’s averages sales for the past 3 years. Jan-Feb have been big months for the past few years, then sales take a dive, dont expect sales to be Jan+Feb x 6, it wont happen and skews the chart. Sorry for the watermark but my charts have shown up before as someone else’s work.
First off, nice price action as usual. All silver market players should makle sure and take gravol to help with the sea sickness from the violent moves LOL!
With respect to coin sales, I just hope they continue to trend say 20% higher year over year overall. to the DOC, might be make a post noting that silver bullet silver shield have SUSPENDED sales of slave queen and freedom girl because the mulligan mint they use are drastically EXPANDING to make them a full service mint. They are going big time.
I agree that we can’t expect things to continue at full retard levels, but the strong eagle sales, with the strong RCM sales, with the new kid on the block silver bullet silver shield certainly breaking out – points to a confluence of events which at some point will pay off for us wack stacking nerds.
We need SBSS to come out with an infamous character series that includes banksters and politicians, hopefully with a circle around them and an angled bar across them, as in “NO”. Jamie Dimon can be #1, followed by several others. Collect the entire set! ;-)
Well now, silver is very close to 29$ per ounce and I believe that it will be above that level after a few weeks. I just discovered today that the Canadian dollar got devalued and because of that, the price of silver in Canadian dollar is around 29.70$ per ounce. At least my local coin shops use the price of precious metals in US dollar which gives us cheaper prices!