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

Silver’s .75 gap-down nearly to $22.50:

ny silver


Gold’s $30 vertical plunge back to $1350 support:


With the lack of a strong 5-10% bounce in the aftermath of Tuesday’s overnight lows of $22.005 and $1325, a re-test of the lows is entirely possible in the next 48 hours- regardless of any physical fundamentals as physical silver has all but evaporated from the retail and even wholesale markets.

    • you are witnessing a divergence between prices for paper and physical  wholesalers are stating 4-6 weeks out for delivery basic supply and demand there is no phyz available in size but YOU can buy all the paper ounces you want with SLV.  Best of luck!

    • What’s not to like about gold?  Good stuff.
      As for silver… are we entering the time when it’s no longer about price but availability?

    • I did get some gold buffaloes this week from DBS Coins for only $58 over, but I must say it’s difficult to pull the trigger on gold at 60:1. Of course them being out of silver made it a whole lot easier.

    • I agree it’s getting to be a little much. “let me put my foil hat on for a minute” IMO  these attacks are totaly planned. It seems for a terrorist attact that the explosions were pretty “mild”. A ruse to instill fear among the sheeple. I hope reporters keep continue to keep a keen eye out at every major public gathering and really help prevent TPTB to get the control they’re seeking.

  1. GLD has seen nearly 80 tons of gold exit their vaults (7%) in the last two weeks. Someone is getting gold on the cheap.
    Waco Texas fertilizer plant just blew up.  Death toll might be in the high double digits.

    • Yea the same as those Ron Paul money bombs….just it`s world wide and silverish! This just may be the way to go. Just as many ppl woke up to liberty by Ron Paul campaign this just may be the way to get the masses aware of banksters and PM`s. Lets all do our part and spread the word!!!!

    • Yeah, I think I can find some dry powder. I wish they could have chosen any day but May Day. But then again, now that I think about it. What better day to attack the creaters of socialism/communism than than on their May Day? They keep attacking us on Patriots Day. Waco, Oklahoma City, and now Boston! Yeah, this is a good idea and the perfect day.

    • “Too bad it will be over most sheeple’s heads. :/”
      Sheeple have heads?  I thought that they had butts on BOTH ends!  lol

  2. A bit OT, but I took a visit over to and did a quick calculation using a stopwatch and some simple math.

    As of today we are looking at 77 more days until the US reaches 17T in debt (if we make it that far). That would mean the day we hit 17T should be on July 4, 2013. (I just realized that as I was adding it up while writing this post.)
    Happy Birthday America?
    Sad state of affairs we are in.
    Good luck everybody.

  3. If I were sitting in the ‘rocket scientist’ chair, I’d suggest ‘re-valuation’ of gold at 2250 on Sunday afternoon and leave it to ‘float’ untrammeled on a physical settlement only rule. It’s my expectation they’d trigger enough bullion sales to cover their sorry asses and set themselves up to extricate the economy from the banknote scheme by then further phasing into trading strictly on metallic ratios. Worth a shot. They’re in a freefall to the canyon floor ANYway. If this ploy acts as a parachute, it could be their only real chance.

    • Pat, my dear friend, these banksters will only release the banknote scheme when it is wrenched from their cold dead hands… and not a moment prior to that time.  They have no interest whatever in doing anything beneficial for humanity.  Anything that does not fuel their own greed is of no interest or concern to them.  Their actions are all of the proof required for my contention.

  4. I am really starting to think SD should seriously consider no longer writing articles such as these. The precious metals are constantly manipulated via the sport price–we all know this. Anyone who was once doubtful of this, no longer is after Friday. And now that physical premiums have gone way up, and physical is becoming harder and harder to obtain, these articles don’t even serve as a “buy the dip” notification. With that being said, paying any attention to this illusory price is a waste of time. The faster we stop reacting to moves like this, the faster the cartel loosens its grip. The manipulators love the fact that so many watch the spot price–they use it as a tool to discourage investors. We would all be much better off if we paid no attention to it. Our focus should shift exclusively to trends in the PHYSICAL, REAL markets. This is where the next big price move will come from. 

    • As the paper paradigm collapses around is, there will be many large additional distortions in the market.  I am thinking that we have left the time when supply / demand forces ruled the marketplace and have entered a time when price is far less relevant than is availability.  This is to be expected when one transitions from a paper price-based economic model to a metallic ounce based one.  
      As stackers, we have been in the cash market and not in the paper market.  While the paper market tail attempts to wag the physical dog, we can ignore some of this motion but are forced to adapt to the rest of it.  Buying what metal we can while we can seems a prudent course at the moment.  Got physical?

  5. silversavings.  For some obtuse reason I like to see how the liars are operating.  Maybe it’s because there is some good intel that can be gleaned from comparing truth to lies.  Truth, th e ultimate litmus test, can be seen in the fog of BS.  Sometimes its good to know the lies are still flying about.  That way you know the BS artists still need to be countered. It’s when these people are silent, that’s when I get concerned.

  6. Well, I boarded the roller-coaster, got comfortable in my seat.  Had the attendant duct tape my arms and legs firmly to the seat.  Had feeding tubes inserted.  I’m ready to ride this fucker out to the end.  I’m in it for the long haul.  I won’t be buying anymore, unless, of course there is some to buy.  (My assistant will handle that!).  Again, I’m in it for the LONNNNNNGGGGGGG haul! Wheeeeee let ‘er rip!

  7. It is odd that everyone here with a differing opinion is labeled a troll but I will try to word this for the sensitive members. If price is falling and one speaks of falling prices, they are a troll. What is the label for someone that consistently speaks of rising prices and conspiracies while prices is falling, speculator or disinfo agent? 

    Yes I agree silver will be worth more in 10 years, due to the same reason the rest of you believe.  To understand the violent swings in prices, you must understand supply & demand which many grossly overlook.  Just as brokers dont sell when they dont make money, miners dont mine when demand is not there.

    According to the silver institute, Silver’s industrial demand is slowing.  From 2000 through 2011 industrial demand grew more than expected, which warranted the rise in price.  Since, the demand has decreases, warranting the decrease in price.   In that time, demand for silver from the photo industry has dropped from 30% to 5%, Silverware dropped from 15% to 5%, but yes investment demand did increase from 5% to 15%.  Obviously the 10% increase in investment demand does not offset the 35% drop in other areas.  I have trouble understanding why price shouldnt drop and the same manipulation/conspiracy theories repeated each week on the WWW just dont explain what is happening.  I could be way off here, but it almost seems some higher power is trying to get everyone to invest in a product to eat up the excess supply.  The SI also stated silver is mined based on demand, if demand rises, so does supply.  Reiterating the previous statements shows there will be an excess supply which will contribute to the falling prices. 

    I get that online brokers cant sell at a loss, so they just hold back product. I personally know a few that have more stock than anyone could imagine but they wont sell simply because they paid a much higher price.

    On the flip side, dealers and jewelry shops are being flooded with gold and silver. A visit yesterday to my LCS yielded me a zip lock bag full of barber halves with a few 1914s. The guy bought them @ $7 and sold at spot. He is very knowledgeable but thinking this couldn’t happen at another shop I stopped in 2 jewelry shops. Both claimed to be out of cash from buying all day. One guy had a small stack of KG gold bars and shoe boxes full of franklin halves and dimes, the other shop had a long row of huge bags of junk silver, 100oz bars and more 10oz bars than I could count, all for sale at spot.  The comments from all 3 shops were that we are headed much lower.  That could be short term which is why I bought. 

    My interest is how could a sampling of 3 real world shops be the same. People are selling under spot and silver can be bought at spot, but all the online mumbo jumbo screams defaults, shortages, manipulation, etc.

    • Since your story is contrarty to reports from those of others the world round it’s more than a little suspocious. Now, either you’re in an area where a lot of old stackers live, holding 10 or 15 year old stashes that aren’t at all ‘painful’ to trade off for utility bills … or you’re full of crap.

    • “On the flip side, dealers and jewelry shops are being flooded with gold and silver.”
      I suggest that this could be like real estate pricing where it’s location, location, location.  In my local area, there isn’t a shoebox worth of 90% coins for sale… in toto!  All of the 3 coin shops I visit are out of stock.  I even asked if I could offer a bid at a higher price on some coins but was told that they do not accept bids for what they do not have. They also mentioned that for every seller who comes in with coins or bars to sell, there are 6-8 buyers wanting the stuff. Their turn-over rate is a couple of hours and is now less than it ever has been.  I would be ecstatic to go into a local shop and find bags of 90% silver for sale.  But it’s just not happening around here.

    • @Ed_B  I guess I should just consider myself lucky in that aspect, unlucky that I dont have more available fiat.  I wanted to wait for ZSL to hit 80 but that may be playing with fire at this point. 

    • Lucky, indeed, Jiggy.  Some places do have really good well-stocked LCSs to deal with and that is a great thing for any coin / bullion collector.  Many others, however do not, so do what we can.  Most of my buying is via the on-line PM vendors but they are having problems too.  I have not seen so many “out of stock” and “delayed” stickers on so many products before the past month.  :-/

  8. Can i ask you guys what you make of Martin Armstrong’s latest missives?
    He doesnt seem to make any distinction between the paper & physical markets.
    And he seems to be attacking the BTFD philosophy.. saying you shouldnt be buying now…
    Reckons gold to $900 if the permabulls dont quit with their ‘propaganda’

    Zeal’s Adam Hamilton also drew attention to the ETF selloff (which Doc posted, i think), but is using that as a massive contrarian indicator, unlike Armstrong.

  9. WOW just read is closing up shop.  With many customers that never received product, under weight rounds and a long list of problems.  I am sure CD will be reminting all the “limited” rounds within the next month or two.

  10. DOC and friends, check this out with the US mint reporting ANOMALIES:
    for the month, gold sits at 147,000 ounces, Silver only 2,387,000.. the ratio is 16 to 1 when we know it has been more like 40-50!!
    LOL! I know the gold sales have gone nuts, but to me this is more evidence that they are lying like cement about silver eagle sales! My bet is we have some SERIOUS management of perception going on.

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