bankstersThe confirmed volume yesterday (which includes the volume during regular business hours + access market sales the previous day) was good at 208,737 contracts as the bankers continued to use non backed paper against all of that demand as they knocked off a few speculators.

Bo Polny joined us today for an update on major markets.  
He’s calling for a major sell-off on the dollar and treasuries.  He also sees a major sell-off on world stock markets as well.
It’s going to occur before summer and this will lead to a major increase in gold and silver prices.
He believes that you need to be long gold and silver and short the dollar and bonds.
Will he be right this time?  We’ll know shortly.

my-shorts-on-fireBetween the short interest in SLV, the high probability that a significant portion of SLV silver has been hypothecated in some form, and the enormous naked short interest position in Comex silver futures vs the alleged amount of silver stock available to deliver on the Comex, it’s entirely possible that a huge short squeeze in physical silver is fomenting
Perhaps it was JP Morgan and other bullion banks who were responsible for the enormous amount of silver imported into the U.S. during Q1 2015 as a means of partially covering their naked short position in silver via Comex futures, SLV short interest and OTC silver derivatives
.

You don’t have to be Einstein to understand the potential force behind a short squeeze if just 20% of the longs on the Comex decide to stand for delivery in July because they are nervous about the dollar/economy.

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explodeWith gold & silver finally putting in a big week to the upside, The Doc & Eric Dubin broke down all the action, discussing: 

  • Breakout– gold & silver close big week at their highs
  • Surge to Weekly Close ABOVE respective 200 DMAs of $1221 and $17.20Set up for an EXPLOSIVE Summer? 
  • Dollar rolling over- USDX looks ready to head to 90
  • Physical Update: Big Money enters/returns to silver market with a JOLT
  • GREXIT- Greece to join BRICS? 

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

GoldMoney gold priceThe US dollar continued to lose ground this week, contributing to a firmer trend for precious metals.
Gold rose over $40 to $1223, and silver by $1.13 to $17.45, though prices initially opened a little lower in early European trading this morning, perhaps anticipating some pre-weekend profit-taking.

US Treasury 10 year noteThe prices of gold and silver initially rallied this week from the lows of $1170 and $15.93 respectively last Friday to challenge the $1200 level for gold and $16.70 for silver on Wednesday, before losing about half these gains yesterday.
On the year gold, is now hardly changed while silver is up 5% and is one of the best performing assets in financial markets over this timescale.
Precious metals appear to be locked into the same torpor as other markets, but there are two developing stories:

SD reader RS writes:

Doc,
Wwould you please advise if this is a good time to purchase either silver or gold? 

Would you advise buying in increments each week or in one bulk purchase?

RS,
Dollar cost averaging by buying in increments each week or month does have several advantages, particularly emotionally.

For example, if you put 100% of your assets into gold or silver immediately in one lump allocation (or into any investment for that matter), if price temporarily declines 5%, 10%, or even 20%, you will (over the immediate short term) emotionally feel like you made a mistake and should have waited for the further decline. 

roof
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With gold & silver taken to the woodshed once again while China was closed, Harvey Organ joined us for an explosive 100th Episode of Metals & Markets, discussing:

  • Metals Smash All About Options Expiration With China Closed On Holiday!
  • 3 Separate MASSIVE Derivatives Messes Could Each Send the System to SMITHEREENS!
  • Why Hypo Bank’s derivatives could take down the entire system
  • Greece On the Brink Of Default- the $5 Trillion End Game is Unfolding!
  • Harvey Reveals the Signal to Watch For That Will Indicate Gold is Going Through the Roof!

The SD Weekly Metals & Markets With The Doc, Eric Dubin, & Harvey Organ is Below:

falling-bear

This week started with a sharp bear squeeze, which took gold from $1178 to $1214, and silver from $15.70 to $16.71.
These higher prices on Wednesday proved to be the peak for both metals, before they fell back sharply Thursday on better than expected US initial jobless claims. The Federal Open Market Committee’s FOMC statement, which admitted the US economy is softening, had little effect when released yesterday.

We can be fairly sure the rise in the gold price on Monday and Tuesday was due to bears being squeezed:

silver bars

TFMetalsReport’s Craig Hemke joins Finance & Liberty for an in depth interview discussing:

Short squeeze in the silver market
– What is happening to the gold market?
Does JPMorgan have a silver stockpile?
– The tie between the Yen and gold
– Renewed hostilities in Ukraine
– What impact is the Ukraine situation going to have on the markets?

Hemke’s full interview is below: