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
Play

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: 

bankster manipulation

Gold straddled the 1206 dollar mark at midnight as the bankers were adamant to suppress the price having sent the signal to the boys earlier via  silver yesterday.
By 3 am (London first fix) gold traded at $1203.00. Gold hovered at these lower values and hit its nadir at $1202 at 5 am.  By 9 am (news from the ECB of non action) saw gold shoot up to $1213.  However the suppression scheme was still on and gold was knocked down to close at $1207.50 at the comex closing time and $1205.50 at the access closing time.
Let’s head immediately to see the major data points for today:

silver butler

The Wealth Watchman took time to stop by the SGTReport and compare thoughts on the ongoing lunacy of the globalist elites.
While sadly, the Swiss people’s original inclinations(to bring their gold home) were overwhelmed by a tsunami of bankster-gold hate, 
it’s a great victory that such a vote was held at all.
This has, no doubt, planted the seeds in millions of minds(in Switzerland and beyond), as to how precious gold is, and how important it is for a nation to possess it themselves.

It’s a no-holds-barred discussion, ranging from Dutch gold repatriation theories, to the relative size of the “plankton” silver market to the “Blue Whale”, known as Apple Computer, to the vampire living within Swiss borders.
The Wealth Watchman’s full interview with the SGTReport is below: 

HarveyOrgan

 

Gold was hit immediately in yesterday’s access market due to the fact that the banking cartel never allow gold to rise for two consecutive daysThe other goal was to keep gold below $1200.00.  It is my belief that above that level it is very toxic to the bankers due to the huge derivatives placed on gold to keep it suppressed.
Gold hit it’s zenith at  2 am (first London fix) with a price of $1209.00  From there it was downhill.
Let’s head immediately to see the major data points for today:

flash smash
Play

PM fund manager Dave Kranzer joins us this week for a power packed show discussing: 

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

wealth watchman

Despite the ridiculous 80/20 rule and the import taxes heaped on by the authorities (read the Central banksters in India and elsewhere), which continue to unfairly burden the hundreds of millions of citizens there who want to stack precious metalsthe heroic Indian stackers continue to line their temples, their safes, their brides’ necks, the wheels of their cars, and perhaps even the bathroom walls with the metals of kings and gentlemen: gold and silver!
In fact, the unbelievably strong demand in India, for both gold and silver, is at surreal levels.  
It is so huge at this point, that it’s terrifying their central bankers, and bullion bankers the world over!

gold

Gold had a volatile week, but rose from $1147 last Friday afternoon to a high of $1205 on Tuesday.
On Wednesday the price moved between down $25 on the latest opinion poll on the Swiss referendum, then recovered to $23 before falling again on the release of the Fed’s FOMC minutes.
However, despite these unsettling swings gold rose on the week by about $30 overall, making it two weeks in a row as shown in our first chart.

Massive shorts

It looks like we have a few nervous shorts in silver racing against the clock to cover some of their shortfall!!
The total silver OI  remains extremely high with today’s reading  at 173,075 contracts. The big December silver OI contract marginally lowered to 71,638 contracts. The high December OI is huge news as those longs remain firmly planted ready to take on the bankers.
The potential for a MASSIVE short-squeeze is brewing.