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…

Play

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!
  • The ULTIMATE BLACK SWAN That NO ONE IS LOOKING FOR!
  • 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!

Play

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.

mineGold and silver are being hit again in early COMEX trading today, with silver plunging to $16.30 and gold knocked below crucial support at $1180 with a last of $1175. 
We suspect the commercials (JPM) are preparing to put their 125,000 naked silver shorts accumulated on May 19th at silver’s short term top of $17.80 to use…

Jamie DimonIn his latest public update, BrotherJohnF discusses why marking rigging & manipulation is getting worse by the day, & why the cartel has backed themselves into a corner they can’t get out of without a catastrophic worldwide collapse!

silver barsThis market is now clearly overbought and vulnerable to a correction. However, it is not the whole story, because it appears that US imports of silver have accelerated in recent months, suggesting someone is building a physical position for unknown purposes.

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.