empty-vaultWe had a huge addition of 3.57 tonnes in gold inventory at the GLD; thus the inventory rests tonight at 705.47 tonnes. The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold. I am sure that 700 tonnes is the rock bottom inventory in gold.
I believe anything below this level is just paper and the bankers know that they cannot retrieve “paper gold” to send it onwards to China.


stormWith gold and silver popping this week, The Doc & Eric Dubin Break Down All the Action Discussing: 

  • Gold and silver back above key support/resistance levels- Time For Another Managed Retreat by the Cartel?
  • Will Bo Polny’s Latest Call Be Correct and Gold and Silver Surprise to the Upside in June?
  • The Doc & Eric Dubin Discuss Tyler Durden’s Theory That the ECB is Intentionally Triggering Greek Bank Runs- Is a Greek Collapse Really in the ECB’s Interests, or is a Bail-in More Likely?
  • Eye of the Storm- Why Eric Believes Things Will Get Interesting Come July

The SD Weekly Metals & Markets Wrap With The Doc & Eric Dubin is Below:

imagesWindow-dressing or the management of prices for a favourable mark-to-market valuation at year-ends, half-years and quarters has long been a distorting feature in financial markets.
And, with bank capital adequacy ratios at stake, not to mention traders’ bonuses, it has been an increasing feature. With the onset of June 30th it seems reasonable to expect this factor to be a reason why gold and silver prices have generally failed to reflect escalating systemic risk in the face of Greece’s insolvency and a developing bear market in bonds. Indeed, losses from bonds are bound to encourage window-dressing of banks’ short positions as an off-set,
and they are generally short of gold and silver futures contracts.

Gold’s breakout today was nice to see; I’m a bit concerned that silver’s rally failed, and that the mining shares treated the breakout as more of a ho-hum than a cause for excitement.  As a result I’m a bit cautious about today’s price action.  Gold shouldn’t be leading the charge, it should be silver and the miners, and they are the ones holding back right now. 

return kingBottom-line:  we are witnessing a “managed retreat” this week and as I’ve been arguing since May 30th, June is going to surprise a lot of precious metals market observers.  The precious metals cyclical bear market ended in 4Q-2014 and the secular bull market has resumed.

PutinBelgium and France are about to confiscate Russian property in their respective countries due to the Yukos ruling.  The courts gave the Russians until June 15.2015 to comply.  They refused and now, both France and Belgium have decided to immediately confiscate Russian property.

HarveyOrgan1The total silver OI continues to remain extremely high with today’s reading at 191,774 contracts now at multi-year highs despite a record low price. In ounces, the OI is represented by 958 million oz or 136% of annual global silver production!

Silver appears to be bouncing along a low, finding support at 15.75-16.00.  Both metals have had a whole lot of Commercial short covering action last week, which is bullish.  Yet commodities look to be weakening, oil is looking for direction, and…that brings us to this week’s next bit of excitement which is the latest FOMC statement, which is released tomorrow. 

fireworksThe next delivery month is July and here the OI surprisingly rose by 578 contracts up to 91,328.
We have only two weeks left to go before first day notice.
The OI for the July contract month is absolutely huge as nobody is leaving quite yet…


Fed monkeyWith Gold and Silver Under Attack Yet Again, Fund Manager Dave Kranzler Joins the Show This Week Discussing:

  • Kranzler Explains Why Silver Manipulation Right Now is the MOST EXTREME IN HISTORY!
  • Silver Open Interest Soars Over 191,000, Highest OI EVER!- 1 B Oz of Paper vs 50 M oz of Physical! 
  • Cartel is losing control of the market- UTTERLY FAILING in This Week’s Attempts to Smash Silver Under 16!
  • Greek Crisis Nears End-Game- Greek Depositor Bail-in & Capital Controls This Weekend?
  • London Source- London Will Be Out of Silver to Send to Refiners By Sept/Oct!
  • Silver & the Shares Will Be the Best Performing Assets of 2015- Big Money Expecting MUCH HIGHER Prices!

The SD Metals & Markets With The Doc, Eric Dubin, & Fund Manager Dave Kranzler is Below:

JP MorganLate last night, we had a huge withdrawal in gold inventory at the GLD to the tune of 2.98 tonnes. Thus the inventory rests tonight at 705.72 tonnes. The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the COMEX is bleeding gold.

gold bullWatching gold ignore the silver take-down this early a.m. and subsequent silver snap-back is amusing and very telling.  The sharp contrast is more profound than typical.  From the start of this secular bull, I can only recall a handful of early a.m. trading days like today’s pattern of divergence/snap-back.
This is VERY unusual trading action.
Later this month, and perhaps within a matter of days, silver will swing back and lead the rise within the precious metals complex as sentiment shifts again and the bull phase recovery off of May’s trashing becomes clear to paper western trading jockeys and JP Morgan and friends are forced to back off on silver naked shorting, “managed retreat” style.
We’re going to have an awesome summer for precious metals, much to the surprise of almost everyone.

HarveyOrgan1In silver, the open interest rose by 2351 contracts even though Monday’s silver price was down by 3 cents.
The total silver OI continues to remain extremely high with today’s reading at 186,356 contracts now at multi-year highs!


monster-boxes silverWith gold and silver smashed this week and nearing 5 year lows, Craig Hemke joins the show to break down all the action, discussing:

  • Will the lows hold, or are we looking at the potential for a waterfall smash on Sunday night’s Globex open?
  • Have fundamentals deteriorated for the metals, or is the cartel knocking PMs down ahead of Greek collapse & bail-in?
  • Craig Explains Why the Bankers Are Ready to SUPPORT PM Investors
  • Ukranian/Russian Conflict Dramatically Escalates to Cuban Missile Crisis Level- Risk of WW3?
  • Its All Propaganda– NFP +280k jobs in May, NY Fed’s Bill Dudley Claims Rate Hikes Still Likely in 2015
  • Greek debt collapse this weekend? Greeks pull €1 Billion from banks Thurs/Fri!
  • MASSIVE Physical Demand Returns to the Silver Market- SD Bullion Burns Through Normal 2 Weeks Sales Volume of 40,000 oz of Silver &  600 oz of Gold in Under 24 Hours! 

The SD Weekly Metals & Markets With The Doc & Guest Host Craig Hemke is Below:

HarveyOrgan1At 3:30 pm Friday the CME sends down the COT report so we can get a good handle on how the crooks are going to beat up on gold and silver.
Gold and especially silver rose sharply in the access market.
Thus it looks like the raid on gold/silver is over and both of these metals will advance on Monday.