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...]
Gold and silver have been hammered today after the London fix (ensuring as few physical stackers as possible are able to take advantage of the paper discount), with gold pushed back under critical $1600 support to $1593, and silver towards a $27 handle.
Recall that last month, legendary gold trader Jim Sinclair predicted that gold would see a bottom by March 27th, and would have begun a strong move higher by that date. While it is too early to tell whether the ultimate bottom is already in, the recent black-swan events in Cyprus while allowing the cartel cover to continue to add short-term pressure to gold and silver, certainly have major, major long-term bullish implications for both metals.
[Read more...]
Silver is recovering early in Wednesday trading after being smashed to $28 overnight, with the metal already retracing half of its losses to $28.40.
Silver appears to be stalling however at the bottom of its 4 week trading range of $28.40-$29.50, and having broken out of that range to the downside, will likely see a $27 handle before selling subsides.
*Update: silver has now retraced its entire overnight smash with a vertical move to $28.70
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Eric Dubin & The Doc break down the trading action in gold and silver and preview next week’s options expiration in the metals.
We discuss the implications of the Cyprus bail-in, whether bank runs are imminent in Greece, Italy, & Spain, and the likelihood that a full-blown contagion has been triggered due to the loss of confidence in the banking system.
SD Weekly Metals & Markets is below: [Read more...]
Gold and silver launched vertically on Thursday’s COMEX open, as Europe’s bitcoin hysteria in the wake of the Cypriot wealth tax appears to have finally spread to the only true safe haven currencies, gold and silver.
Silver sliced through $29 and jumped nearly to $29.50 immediately, while gold jumped to nearly $1620. [Read more...]
Ahead of today’s FOMC statement (and in light of Eric Sprott’s 2nd installment of Do Western Central Bankers Have Any Gold Left?), we thought it a good time to recall a conversation between Alan Greenspan and others made at a December 1992 FOMC meeting in which key secrets were revealed regarding manipulation of the gold market by Western Central bankers.
As The Doc discussed with Eric Sprott in our recent interview, the US exported $4 billion in gold in December. Eric pointed out that $4 billion is 2.5 million ounces of gold exported in a single month, when the US produces 8.8 million ounces annually. Eric asked rhetorically where 2.5 million ounces of gold were coming from.
Courtesy Former Chairman Alan Greenspan and the minutes from a Dec 1992 FOMC meeting, we just may have the answer for Mr. Sprott… [Read more...]
After being pushed back below $1600 and $29 over night, with silver being treated to a spike low near $28.50, gold and silver have just made another vertical move off $1600 and through $29 on the COMEX open.
Silver jumped .30 just through $29, and gold, appearing much stronger- bounced off of what is now support at $1600 to $1610. [Read more...]
Throughout much of the current bull market, the cartel has attacked gold and silver mercilessly on events that should have major bullish implications for the metals, such as the Nov 2011 pegging of the CHF to the Euro.
The Cypriot bail-in over the weekend appears to be an anomaly however, as along with the dollar, both gold and silver have gapped up through significant resistance levels on tonight’s globex open, with gold bursting through the cartel’s cap at $1600, and silver through resistance at $29.
*Update: Cartel has now smashed both gold and silver back under $1600 and $29 respectively, wiping out entire gains from Globex open.
[Read more...]
*Editor note: Willie’s prediction that a European triggered complete collapse is at our doorstep is looking extremely timely with Europe staring a banking crisis in the face in the wake of the Cypriot depositor haircut announcement.
The Golden Jackass Jim Willie sat down with The Doc this weekend for the second part of an extraordinary interview regarding gold, silver, and what Willie believes will soon be a massive European banking collapse.
Willie states that a global financial collapse is now at our doorstep, and that the endgame will be triggered by a small-medium sized bank failure in Europe.
Willie informs SD readers that the coming European bust will ignite a global Gold rush as the only remaining safe haven, will see an end to the reserve status of the USdollar, and will result in the arrival of the Gold Trade Finance platforms.
Willie also discusses The Fed’s futile attempts to re-inflate the housing bubble, and the series of climax events that will bring a breath-taking global financial collapse to our doorstep!
The Golden Jackass states that the coming collapse will devastate everyone in the West except those who are bold enough and brave enough to buy gold & silver NOW!
Jim Willie’s second part of an explosive, 2-part interview with The Doc is below: [Read more...]
In the debut of the SD Weekly Metals & Markets, The Doc & Eric Dubin discuss the likelihood that a bottom is in for gold & silver, the widening physical shortage of silver at the US’ largest metals wholesalers, the CFTC looking into the manipulation of the London fix, and the US Mint on pace to set 3 consecutive monthly sales records of silver eagles to start 2013.
The debut of the SD Weekly Metals & Markets is below! [Read more...]
Our friend Turd Ferguson of TFMetalsReport has released a gold and silver update warning that the worst may be yet to come for the current gold and silver cartel smash.
Ferguson states that the odds are at least 25% that gold and silver will still see a spike-low harvesting stops, with silver plummeting to $25, and gold towards $1500:
I’m beginning to sense that the ultimate goal of this entire event is to harvest the stops below $26. IF this happens…and currently I’d put the odds at about 25%…a quick drop to $25ish would be your final bottom. Price would quickly recover back above $26 and this deliberate beatdown would be over…And gold could very easily suffer the same fate. If The Cartel can engender enough additional spec selling, a veritable cornucopia of sell stops lay waiting for them sub-1530. And you can just imagine the reaction in the media: “GOLD IN BEAR MARKET!!” will be screamed as loudly as possible in the hopes of inspiring even more selling.
Is the worst yet to come in the gold an silver correction?
In the midst of the latest epic cartel paper gold and silver raid this week, legendary precious metals expert Eric Sprott sat down with The Doc for an exclusive, MUST LISTEN interview.
In one of his best and most shocking interviews ever, Eric discusses the latest gold and silver raid, his take on the platinum & palladium markets, the Bundesbank’s recent gold repatriation request and the correlation with massive physical gold buying in Asia, and his view on how the endgame of the Western financial/ debt crisis will play out.
Sprott stated that the Treasury Department’s 2012 GAAP budget deficit report was an astonishing $6.9 Trillion, and this has not been reported in 1 single major news outlet! He also stated that the US government may be exporting German gold from the NY Fed to China, and that despite their recent apparent success, he expects that one day soon the cartel will be brought to their knees simply by traders standing for delivery of physical metal.
Eric Sprott’s full MUST LISTEN audio interview with The Doc is below: [Read more...]
Legendary precious metals expert Eric Sprott sat down with The Doc for an exclusive interview to discuss the Bundesbank’s gold repatriation request last month, and the correlation with massive physical gold buying in Asia.
Eric pointed out that the US government exported 30% of US annual gold production to Hong Kong in December alone, and stated that as there is no excess gold available in the US, all of his analysis suggests that the US gov’t may be exporting the German, Dutch, & Austrian gold reserves held at the NY Fed to China in an attempt to kick the can and forestall the inevitable financial collapse a little longer.
Eric Sprott’s Shocking interview with The Doc is below: [Read more...]
The Doc sat down with gold and silver expert and billionaire fund manager Eric Sprott Wednesday for the first of a series of interviews regarding the markets.
Eric warned The Doc prior to the interview that the KWN and USAWatchdog sites were maliciously attacked the day they published interviews with Sprott. There appear to be powerful interests that would prefer to keep Eric’s thoughts on precious metals out of the public at the present, as SD also sustained a confirmed co-ordinated Apache flood DOS attack during the recording of the interview.
With gold smashed nearly to $1550 and silver nearly to $28 Wednesday, Eric discussed the latest paper raid in the face of epic physical demand, and stated that the demand for coins has been stunning!
Sprott also stated that there is an absolute shortage in platinum and palladium, and although he still believes silver is the investment of the decade, there is no telling how high platinum and palladium could go.
With silver trading back under $30, Eric states that silver should be $100 today, that he expects it to massively outperform gold, and that he conservatively expects the metal to reach $200/oz. Eric states that $200 shouldn’t be considered the top however, and that All we know is that the price should be up massively. Anyone who’s been a student of the market sees these ridiculous trades, but some day these guys will be brought to their knees by people just taking delivery.
The first of Eric Sprott’s MUST READ interviews with The Doc is below: [Read more...]
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