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...]
Silver Smashed 10% on Globex Open, Tests $20
The Gold & Silver Bull Market Is Dead! Long Live The Gold & Silver Bull Market!
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The financial media would have you believe that everyone and their dog has given up on the precious metals market. But as Peter Schiff humorously remarked the last time we were down at these levels: The PM bull market is dead! Long live the PM bull market!
On this week’s show, we discuss the recent action in the metals & markets, including:
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Testing of $22/silver and $1320/gold next week, with the potential for a capitulation spike low as soon as Sunday’s Globex session- silver could see a spike low to $18-$20, & gold a $1200 handle
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Examination of fundamentals: Nothing has significantly changed
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Physical versus paper demand trends in both the West and Asian markets
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George Soros and another documented case of financial media spin [Read more...]
Here We Go: Silver Waterfall in Progress
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...]
SD Metals & Markets With T. Ferguson: Bullion Banks Ready to Ride the Silver Rocket!
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Turd Ferguson of TFMetalsReport.com joins Eric & The Doc this week as a special Gust Host on the SD Weekly Metals & Markets!
On this week’s show, we’ll cover a number of topics, including:
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The Doc’s recap of physical market trends and the continuing physical gold & silver shortage
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Massive and unprecedented physical demand in Asia, coinciding with a historic draw-down in GLD inventory
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Prospects for a summer rally in bullion
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TF discusses a massive shift in the silver COT, as the commercials have doubled their long position since QE∞ was announced
SD Weekly Metals & Markets with Guest Host Turd Ferguson is below! [Read more...]
Has Silver Bottomed? The Doc, BrotherJohnF, & Greg Mannarino
The Doc, BrotherJohnF, and Greg Mannarino join Elijah Johnson of Finance and Liberty to discuss the price action and continuing physical shortage in the gold and silver markets.
While a re-test of $22 is possible in the paper futures markets, the price of PHYSICAL METAL has bottomed.
Full interview is below: [Read more...]
DIESELBOOM STRIKES AGAIN! Uninsured Depositors Across EU to Bail-in Banks Failing Stress Tests!
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?
[Read more...]
SD Weekly Metals & Markets: Precious Metals Have Bottomed, Silver Shortage Intensifying!
On today’s show, the Doc and Eric Dubin discuss trends in the physical market, which remains strong worldwide as the silver shortage has intensified and spread from 1 oz coins to 10 oz and100 oz bars. Last week we underscored the likelihood that the wholesale supply chain would begin to show signs of true physical shortage once the restocking cycle got underway to replenish April’s demand spike. That appears to be what we saw begin to unfold this week, which speaks to higher prices in the weeks ahead.
The SD Weekly Metals & Markets review with The Doc & Eric Dubin is below:
This is What Being Cyprus’d Looks Like in Your Online Account…
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.
Balance: €849,682.68
Blocked Funds:… [Read more...]
US Mint Sells Record 4 Million Silver Eagles in April, On Pace to Sell 55M ASE’s in 2013!
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...]
SD Weekly Metals & Markets: JPMorgan Fumbles the Gold!
In this week’s SD Weekly Metals & Markets, The Doc & Eric Dubin discuss:
- This week’s big rallies in gold and silver
- EPIC draw-down of JPMorgan’s gold inventories, and reports that wealthy Europeans are demanding physical delivery of allocated gold positions held in JPM vaults
- Silver shortage update: silver shortage spreads to 100 oz bars!
- What’s ahead for gold and silver next week with the Chinese markets closed Monday-Wednesday and the FOMC meeting Tues-Wednesday: is the worst behind us or with metals stocks rolling over late Friday, is another epic paper metals dump by the cartel imminent?
This week’s MUST LISTEN SD Weekly Metals & Markets is below: [Read more...]
65% of JPM’s Gold Vanishes as Massive 8 Tons of Gold Withdrawawn Overnight!
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...]
Chart(s) of the Day: US Mint Gold & Silver Sales 2008-2013
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...]
Q&A With The Doc: Will I Ever Get Back to Even on My 40% Underwater Gold & Silver Position?
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.
Thanks, Dave.
Doc: All major secular bull markets have major corrections. As to your bad timing of purchasing $80,000 in gold and silver 2 years ago, I believe the bull market will forgive bad timing- provided you have the intestinal fortitude to be right and sit tight. [Read more...]
SD Weekly Metals & Markets: We Just Witnessed the Biggest Take-Down in Gold in 30 Years!
On today’s SD Weekly Metals & Markets, we’ll discuss a number of subjects, including:
* Physical market trends and Doc’s direct market intelligence on the rapidly growing shortage in physical silver, and now physical gold!
* Constructing a timeline of the past month’s market events culminating in the epic gold & silver raid for deeper understanding
* Where to now? Our outlook on a number of possible scenarios, including speculation about metal exchange defaults, Jim Sinclair’s thesis about bullion banks eventually going net long and gold’s eventual return to having an explicit role in the global trading and banking system.
This week’s SD Metals & Markets is a MUST LISTEN!
[Read more...]
Here We Go Again- Gold & Silver Plunge to $1350, $22.50 on Globex
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
[Read more...]
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