You are literally going to see gold and silver skyrocket well past the Moon and other planets and could go as high as some nearby galaxies next year in 2015 as the “crash of biblical proportions” comes to pass.
All the trillions of dollars in fake fiat paper money around the world will rush to buy the physical metal and ALL of it will be GONE in gone single hour, all around the world.
The worldwide physical silver and gold market is very very VERY TINY. Once the signs of worldwide economic collapse become apparent, just hours before the crash that devastates ALL the economies of the world IN ONE SINGLE HOUR as the derivatives domino game comes crashing to a halt and massive fear instantly spreads around the world, all the fiat paper money will seek hard assets as a safe haven for maintaining their value.
The precious metals dealers will literally shut down their phone lines, and trillions of dollars in paper fiat capital is going to roar into the precious metals paper fiat fiasco better known as the New York Commodities Exchange and other fiat futures casinos around the world.
It will be an explosion or SHOT heard round the world as everybody throws whatever cash they have into this completely imagined safe haven, which is not a safe haven at all but a casino of order of magnitude in the hundreds of paper futures above a tiny amount of real metal in COMEX warehouses.
What levels could gold & silver achieve in a derivatives contagion? Valuations so shocking Jim Sinclair’s price forecasts are bearish!
It may be just coincidence, but stories about multiple rehypothecations of physical metal in China’s warehouses have emanated from sources involved with trading in these metals.
These traders have had to take significant losses on the chin on a failed strategy, and may now be moving towards a more bullish stance, because China’s warehouse scandal has not played out as they expected.
So two certainties, the collapse of both the yen and of Chinese economic demand don’t seem to be happening, or at least not happening quickly enough. The pressure is building for a change of investment strategies which is likely to drive markets in new directions in the coming months.
Gold and silver spent most of last week consolidating recent gains by moving broadly sideways, but their underlying strength was a notable feature.
The increase in open interest tells us that the rise in price was on the back of buying rather than a bear squeeze, which would have seen rising prices on steady-to-declining OI.
This is an important development, because it indicates that speculators are beginning to think the downtrend of the last 30 months might be over.
The precious metals are shrugging off the fears engendered by market analysts – (especially technical analysts) – from which reports are proliferating that the market is going to get slammed hard for the next few weeks starting this week.
Silver was hit hard on Friday after the NYSE closed. The period between 4:00 p.m. EST on Friday (NYSE close) and the close of the Comex computer Globex system – 6:15 p.m. EST is usually the lowest volume period during the entire trading week.
This is when the manipulation from the big banks kicks into high hear.
They took silver below $21 in the last 35 minutes of the Globex session. Nice, eh? [Read more...]
While gold, silver and mining shares catapulted from overnight and early attempts to manipulate them lower…
The U.S. dollar has lost the psychologically important 80-handle, it lost its 200 day moving average on Friday and its 50 dma today. [Read more...]
It is three weeks since the managed money category on Comex placed their biggest bet ever recorded in recent times that silver was going lower, and also bet big-time that gold would sink below $1200.
As is often the case when traders are so commonly committed to a price outcome they end up nursing some painful losses. [Read more...]
My “key to the game” – and the reason I’ve made these bets – is simple enough: America, I’m betting, is effectively broke and must print money to stay in business. This assessment tells me that, at some point, the purchasing power of the dollar will decline precipitously and that demand for gold and silver will become much greater. [Read more...]
Following on from last week when Iraq hit the headlines and the price of oil firmed up, gold was steady for the first three trading days. It seemed the shorts just held their breath and hoped Iraq would go away. But with oil prices up yet again Thursday a vicious bear squeeze followed after someone bought over 3,500 gold contracts, driving the price up to just under $1300. Once this level broke at 13.40 New York time, gold jumped a further $15 as stops were triggered.
Silver also responded dramatically, rising through the $20 level to $20.90 for a gain Thursday of 5%.
The price action and open interest this so far month is shown in the following charts and illustrates how record bear positions are being squeezed in both metals. [Read more...]
The Gold & Silver ‘Washout’ began with a Short Squeeze.
Continue to expect a higher price target this month as the short squeeze is not over just yet!
After the coming Summer Low, the ‘Washout’ ends with a Moon Shot to $2000 before Year End! [Read more...]
“Is the precious metals bull market over?” This may be the single most important investing question that we can ask ourselves. Why?
If the bull market in silver and gold is not over, then the current setup would likely be an extremely big buying opportunity. [Read more...]