*Update: Gold to $1350, silver to $22 handle at $22.94!!
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...]
*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...]
SD Weekly Metals & Markets 4/13/13: Vampire Squid Kicking Arse As MOPE Fiesta Runs Wild
Thank goodness for a day of rest — and a weekend, if you’re so lucky! After a week like this, some precious metals investors might consider driving a car into a tree more relaxing than watching the mainstream media explain market machinations and how gold is now officially in a bear market.
Providing our antidote to mainstream MOPE, we bring you this week’s SD Metals & Markets discussion, including:
Tribute To Bill Murphy, Chris Powell And GATA: American heroes in the most classic sense of the term
Launch the radio program by clicking the YouTube play button and enjoy the supplemental write-up. Let’s get to it! [Read more...]
COMEX registered silver inventories have fallen off the proverbial cliff this week, as registered supplies have dropped a massive 10% in the last 48 hours!
Nearly 4 million ounces of physical metal has vaporized from COMEX vaults as the rush to physical intensifies in the wake of the Cyprus bail-in wealth confiscation as news has spread that nations the Western world over are preparing to shove the next banking crisis down the throats of depositors. [Read more...]
Epic drainage of physical silver inventories continued Tuesday, as 17.3% of CNT’s physical silver inventories vaporized for the 2nd consecutive day, cutting CNT’s physical silver inventories by 1/3 in only 48 hours!
Brinks’, CNT, Delaware, HSBC, & Scotia (every vault except JPM) all saw significant physical withdrawals, as a massive 2.7 million ounces of physical metal fled COMEX depositories. [Read more...]
Moments ago gold was treated to a $15 waterfall decline, smashing it back towards $1550 support. Astonishingly, the cartel monkeys appear to have forgotten to include silver in the attack.
Perhaps the operation is to simply target gold in the wake of the announcement that 10 tons of gold will be freed from the Cypriots in exchange for a few weeks of euros? [Read more...]
Epic drainage of physical silver inventories continued Monday, as Brinks’, CNT, and Scotia all reported massive withdrawals of silver from their COMEX depositories.
The biggest withdrawal came in the CNT vault, where 1.138 million ounces (including 737k REGISTERED oz) were withdrawn- an astonishing 17.3% of CNT’s entire physical silver inventory vaporized overnight! [Read more...]
The US Mint has updated April sales statistics for the first time since last week, and to no surprise, the Mint again reported more massive sales, with another 833,000 silver eagles reported sold Monday! The April total through 6 business days is now 1.645 million ounces, bringing the 2013 total to a massive 15.868 million ounces.
In response to the continued massive demand for silver eagles, the mint also has begun rationing sales of silver eagles to primary dealers resulting in supply delays!
Just as was seen in January, tight physical supplies have seen premiums on ASE’s skyrocketing over the weekend and throughout the day, as ASE’s are rapidly becoming as scarce as 90%!
*Update: wholesale suppliers have increased premiums nearly $1 since yesterday, while the shortage has tightened, and wholesalers now on 4-6 week delays for shipments of ASE’s!
[Read more...]
SD WEEKLY METALS & MARKETS 4/5/13:
Trading recap: Support holds. Make that FIVE times silver has tested $26. Gold closes strongly up off $1550, silver over $27
Physical silver shortage widens as wholesalers suspend sales of ASE’s, 90%, lengthening delays on all physical silver products seen in wholesale market!
Bank of Japan goes Kamikaze, announces ¥50 Trillion annual QE, will buy REITS, bonds of all maturities, and EFTs!
The Doc and Eric Dubin give their perspective on the biggest stories of the week in the SD Weekly Metals & Markets [Read more...]
TF from TFMetalsReport.com has released an update this afternoon warning gold & silver investors that a major wash-out decline in both metals is becoming increasingly likely, particularly as silver has breached support and dipped into the $26 level overnight and again Wednesday afternoon.
TF warns that the cartel appears to be attempting to induce a brief yet violent washout by smashing gold under significant long-term support at $1525 and into the $1400′s, and silver down through major long-term support at $26, triggering massive sell-stops and driving the metal into the low $20′s, at which point the cartel will be able to cover and the next major metals rally will begin.
Turd warns that: Everybody and their brother are looking at $26 silver as a final line of defense. What concerns me is JPM et al working collusively with the other commercials to pull their bids. This creates an air pocket into which the Large Specs sell even more and blow silver through $26. A drop through $26 would frighten nearly everyone but it would be The Bottom and the ultimate and best buying opportunity.
Good luck sourcing physical if this scenario plays out, as wholesale suppliers are already at 8 week delays on 90%, and 3-4 week delays on Silver Maples and Eagles. [Read more...]
The cartel’s all-day gold and silver take-down continued in tonight’s Globex and Wednesday Asian trading, as both metals have just been shoved off ANOTHER cliff, with gold smashed to $1565, and silver has broken below $27 to a $26 handle! [Read more...]
Gold and silver were greeted to a familiar 2-stage waterfall smash on today’s COMEX open, with silver being smashed back under $28 to $27.39, and gold back under $1600 to $1579! [Read more...]
Last Tuesday March 26th, we reported that the US Mint had sold 3,356,500 Silver Eagles in March, nearly 1 million in the past 4 days, and were only 25,000 oz from surpassing the all-time March sales record set in 2010.
Well, The Mint would have smashed the all-time March sales record for Silver Eagles…had it not held back sales totals for a full week, and reported a whopping 812,000 oz sold on April 1st. [Read more...]
Friday’s strange algo patterns in the gold and silver charts apparently were tipping off the upcoming silver raid, as silver traded exactly down Monday morning to the $27.88 spike low seen on several silver feeds last Friday when global markets were closed.
The cartel appears intent on forcing a re-test of crucial support at $26 in silver- the question is at what cost in the physical market as a massive shortage of 90%, Silver Eagles, and Silver Maples grows? (and will undoubtedly intensify on any visits back towards $26) [Read more...]
This Week’s SD Weekly Metals & Markets Report Looks At:
Gold And Silver: Strong Dip Buying Supports “Bottom” Call
Cyprus: Banks Finally Opened, Calm Deceptive
Banker Bail-in Bash Comes To Canada, and now to US & UK with joint resolution authority- story broke by SD Friday night
BRICS 2013 Meeting: Eroding US Dollar Reserve Status
Next Week? What Nation/Region Is Next? Slovenia, Slovakia? Or more likely, Portugal, Italy, or Spain?
SD Weekly Metals & Markets is below: [Read more...]
![[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)
