Precisely as we warned listeners on this week’s SD Metals & Markets, silver was greeted with an epic waterfall smash on Sunday’s Globex, plunging 10% to just over $20/oz moments after the open. [Read more...]
After consolidating near $23.70 throughout this morning’s Asian trading, silver has again been hammered by the cartel, with the first wave of selling beginning shortly after the London open, and culminating in a classic vertical waterfall decline taking the metal nearly back to $23 on the COMEX open.
The move has broken silver out of its nearly 3 week long trading range of $23.30-$24.50 to the downside, meaning a re-test of the correction low at $22.005 is now entirely possible. [Read more...]
The bullion banks must not have gotten the memo that silver investors the world over had planned a co-ordinated silver buying strike for May 1st, as gold and silver have been slammed on the COMEX open, with silver down $1 to $23.37, and gold down $23 to $1454!
It appears that the bullion banks have decided to front run today’s FOMC statement and coinciding PM smash. [Read more...]
Gold and silver have been greeted to yet another waterfall plunge as the first trading since the CME hiked margins in both metals by 18% after today’s COMEX close. Silver has plunged nearly another dollar to $22.50, and gold another $25 to $1350.
*Update: Both metals have already retraced nearly all of their latest losses, as silver has quickly spiked back to $23.15, and gold to $1365
Gold and silver are rallying off overnight epic lows this morning, as gold was smashed another $100 into the $1300′s, and silver was crushed another $3 all the way to $23! In all, silver was smashed nearly $5 (18%) and gold $165 (11%) from Friday morning!
The strength of the rally in early COMEX trading is a good first sign that the worst is past, as the cartel raises to raise metals prices before the London fix. [Read more...]
Our friend Sean of SGTReport.com writes: The Mind War against the people continues. The banking cartel and the criminals who run the planet will give us no shelter from their crimes. Never mind the collapse of the Kennecott mine in Utah, never mind that the drain on Comex inventories has never been higher, never mind that the demand for PHYSICAL silver from the US Mint was at an ALL-TIME high in January and February and will be again in April… never mind the facts. We are in a MIND WAR as Satanist and U.S. Army Officer Michael Aquino coined it. And soon we are likely to find ourselves in a physical war for our very lives.
Full SGTBull Alert is below:
*Update: Full-fledged margin-call blood-bath in progress, silver nearing $23 handle, gold to $1420!!
After briefly popping back above $26 in early Globex trading tonight, silver has just been treated to another waterfall smash, gapping down another dollar, collapsing another $1.50 to a $24 handle with a last of $24.35!
Gold has plunged another $65 to $1420!
It appears that the cartel is not concerned whatsoever that 16% of annual US silver mine supply evaporated over the weekend, and will continue to press any remaining weak or leveraged longs. [Read more...]
BrotherJohnF discusses the growing divergence between paper and physical gold and silver and the rapidly approaching endgame in his latest Silver Update: Endgame Disconnect: [Read more...]
In light of today’s paper futures smash sending silver towards $27 and several recent predictions by silver experts that silver’s long term price target is $20, we thought it apropos to re-post SRSrocco’s detailed analysis of the current COMPLETE COST FOR MINING SILVER, along with a NEW UPDATE from Steve.
By SD Contributor SRSrocco
Last year, I wrote an article titled THE COMPLETE COST OF MINING SILVER. In it I used a quick formula to figure what a more true cost would be for an ounce of silver than the CASH COST.
This is an update of the complete cost for mining silver:
The totally normal gold and silver market have gone vertical after their NFP release smash as the cartel HFT algos seek to trigger every stop possible, with silver rocketing over $1 back over $29 to $29.39, and gold up $25 to $1585.
Because this is what a freely traded market looks like…. [Read more...]
BrotherJohnF discusses today’s silver smackdown on the Fed minutes release in his latest Silver Update:
Fed vs. Silver [Read more...]
Daily COMEX open silver raid in progress.
*Update: 2nd wave in progress, cartel gunning for $28 handle!
Over a 5 minute period from 10:32-10:37 AM Friday, a massive volume spike (approximately 40,000 contracts) coincided with silver’s waterfall to $29.75- a fairly common occurrence during major cartel silver raids.
Astonishingly however, 2 minutes after silver marked it’s low at $29.75, approximately the same volume traded over the next minute- spiking silver .15 off it’s low.
It appears that a major buyer stepped in and took on the cartel at exactly 10:39 am on Friday 2/15 as nearly 40% of the day’s volume traded over a single minute.
To put this number in perspective, 200 million ounces is 26.2% of 2012′s world silver mine supply of 761 million ounces!