Putin ammo shortage
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Gold & currency expert Alasdair Macleod joined The Doc & Eric Dubin this week for an EXPLOSIVE show discussing: 

  • End game to Russian Ruble collapse: Putin may take the Ruble onto the GOLD STANDARD- if Russia detonates this Nuclear Financial Weapon, the West is DEAD! 
  • Macleod: ABSOLUTELY NO GOLD STOCK IN THE MARKET SUB $1200!
  • Did the US/Saudi Arabia plan the oil crash to collapse Russia & the Ruble? -Putin’s counter-move could result in an EPIC BACKFIRE for the West
  • Is a Global currency crisis is in the making!?!
  • Alasdair provides his outlook on gold & silver, and explains why 2015 is likely to be an EXPLOSIVE YEAR for the metals after a prolonged consolidation- but PM investors won’t like what comes along with MASSIVELY HIGHER gold & silver prices! 

The MUST LISTEN Metals & Markets With special guest Alasdair Macleod is below: 

gold market tipping

In today’s trading, for the umpteenth time, gold surpassed the $1200 mark only to be repelled back.
Gold’s zenith was $1212.00 set at 5 am early this morning and its nadir at $1193.50 at 11 am (well after London’s second fix).
I strongly believe that gold at 1200 is very toxic to our bankers with the huge number of derivatives and forwards placed.

silver smash

The banksters obliterated gold and silver today as Russia announced an emergency rate hike of 650 basis points, raising rates on the Ruble from 10.5% to 17%, sending the USD plunging vs the RUB! 
Let’s head immediately to see the major data points for today:

Gold Eagle

Gold was the safe haven this week.
This week precious metals continued their recovery, with gold up $35 at $1220 and silver up about $1 at $17 Friday morning, thus building on the improved trend since gold bottomed nearly $90 lower at $1132 on 7 November.
Gold seems to be finding support at the 50-day moving average (MA), which currently stands at $1198 and now rising.
The 200-day MA is at $1246, which suggests supply at this level could cap the rise for the moment: these levels matter to technical traders.
On Comex there is evidence of some buying of gold futures, as opposed to bear closing, which is reflected in the rise in net contracts for the managed Money category shown in the chart below:

Bernanke-Dimon-Fed-Tunnel

The Doc and Eric Dubin from SilverDoctors & SD Bullion joined the SGTReport this weekend to talk about all things silver.
We discuss the new record in silver eagle sales and the fact that in ancient Rome, payment for a hard day’s labor was 1/10th of once ounce of physical silver.
Today, due to the massive manipulation, a person earning $50,000/year is compensated with the equivalent of 10-11 ounces of physical silver per day.
More than 100 times the historic norm — and it’s only possible because silver is the most manipulated, most undervalued tangible asset on earth.
The Doc points out that with the current silver gold ratio over 70 to 1, while the earth’s mining output in 2013 was a mere 8.3 to 1, a move to fundamental valuations could see silver place a 10 bagger vs gold!

The Doc & Eric Dubin’s full interview with the SGTReport is below: 

images

In silver, the open interest fell by a small 823 contracts with yesterday’s rise in price of  $0.02.  Looks like some of the shorts are vacating the arena.
For the past year, we have been witnessing massive liquidation of contracts despite the fact that it cost nothing to roll.  This makes no sense and it smacks of cash settlements which are totally illegal.
Since I have been following comex data, I have never witnessed such a massive liquidation in both gold and silver. 

cliff edge

Notice the abrupt halt to the precious metals “rally”.  If the price spike was caused by enormous Speculator long buying enthusiasm, we would still be watching PM prices shoot or drift upwards.  This was a Commercial exercise, pure and simple.
It is very indicative of what will happen next year on a far larger scale where Speculator longs will be pounded “in the blink of an eye” by a Commercial short covering of gargantuan proportions.
Price will descend into the abyss for moments while pre-programmed Speculator short buying eats up shorts all the way to the bottom as Commercials gladly take the longs and the temporary “losses” and then WHAM price rebounds upward just as suddenly as it dropped.  But this time there will be no upper limit.

Price might just be about $14.15 (elite telegraphing the future?) this time next September when this event happens and may well dip into the $8 handle but when price rebounds minutes later it is not going to stop at $16.15 on it’s way to $100, $500, and beyond as trillions of dollars of paper fiat rush into commodities looking for a safe haven from what appears to be the repeat of the 2008 c rash.

bottom of the barrel

All GOFO rates moved closer to the positive and out of backwardation today- the bankers must have found a few bars to lease.  On the 22nd of September the LBMA stated that they will not publish GOFO rates.
It looks to me like these rates even though negative are still fully manipulated. London good delivery bars are still quite scarce.
The backwardation in gold is incompatible with the raid on gold. It does not make any economic sense.
Let’s head immediately to see the major data points for today:

weekend update

On Friday gold dropped -13.40 to 1192.60 on moderate volume, while silver dropped -0.20 to 16.28 on light volume.
PMs took a hit at 0830 EST at the time of the Nonfarm Payroll report, which significantly exceeded expectations.
This news was good for the buck, and bad for precious metals. 

The junior miners didn’t even make it as high as the 50, they look much weaker than their larger cousins.
I never like it when juniors under-perform, it always seems to lead someplace bearish sooner or later.

beach ball

It turns out the Swiss referendum last weekend which sought to force the Swiss National Bank to maintain 20% gold reserves was a red herring so far as precious metal markets are concerned, and set up precious metals for the sharpest rally seen in years. 

gold bottom
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In this week’s Metals & Markets The Doc & Eric Dubin break down all the action in the metals over the past week discussing: 

  • Negative GOFO rates, soaring 90% premiums, and month long delays- physical tightness is BACK!
  • Swiss cave in to banksters fear mongering, vote down Gold Referendum- impact on gold’s trading over the short and long term
  • Repatriation Contagion: First the Netherlands, now France now discussing Gold repatriation
  • Monday’s outside reversal saw silver soar 15% higher, and close over $2 off overnight lows of $14.45- have we finally seen the capitulation bottom & subsequent short squeeze, or are gold & silver about to roll over to $1050 and $12?

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