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 Diesel has just dropped the boom again, as the Chairman of Eurozone Finance Minsters warned Wednesday that uninsured depositors in Eurozone banks could face losses in Eurozone bank stress tests- as the Eurozone stress tests could result in banks being shut down by the EU, with the Cyprus template bail-in resolution used to impose losses on depositors.
Is Dieselboom trying to start a Eurozone wide bank run?
In the wake of the Cyprus depositor haircuts becoming official this week, a Cypriot SD reader has sent us a screen shot of his online banking terminal with Cyprus Popular Bank (Laiki).
The screenshot below puts new clarity to If You Don’t Hold It, You Don’t Own It.
Blocked Funds:… [Read more...]
The US Mint updated Silver Eagle sales totals Monday evening for the first time in a week, and now report a massive 3,975,500 ASE’s sold with 1 day remaining in the month, an all-time sales record for April.
The Mint shattered the previous all-time April sales record of 2.8 million set in 2011 by a whopping 41%, and is on pace to sell nearly 55 million ASE’s in 2013!
We suspect that had the US Mint been meeting demand through April rather than rationing supply, the sales total might be closer to 10 million and would have set a new monthly record.
For gold, the April sales number were even more astounding… [Read more...]
JPM’s eligible gold inventory has just plunged to an All-Time Low as a massive 8.125 metric tonnes- a full 65% of The Morgue’s phyzz was withdrawn overnight!
Jamie & Blythe are expected to be working overnight tonight moving pallets of phyzz from 5 floors below The Fed into JPM’s depleted vault… [Read more...]
Today’s charts of the day examines US Mint gold eagle and silver eagle sales totals from 2008-2013.
Surprisingly, while ASE sales have increased the most on a percentage basis, it is US Mint gold eagle sales that are literally going parabolic.
MUST SEE US Mint Gold & Silver Eagle sales charts are below: [Read more...]
SD reader Dave writes:
I Purchased $20,000 in gold and $60,000 in silver two years ago. I was lead to believe they were going way up due to money printing and zero interest rates. So far I am down 30-40%. All the fundamentals are right for higher prices but both metals have gone way down. Can these prices go up without a complete collapse of the dollar? I figure I only have about 10 years left to live. Will I ever get even? The only people touting the metals now are the people that make money on sales.
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