The long anticipated Gold & silver short squeeze has begun as gold has exploded after retesting $1300 overnight, and is now up nearly another $20 today to $1321.
Silver has been even more impressive, up nearly $1 on the day to a high of $21.38.
Should silver be able to clear $21.50, an astonishing short squeeze would be likely- potentially propelling the metal to $22.50-$23 before pausing.
As both metals appearing to be launching another vertical move to the upside, Friday is shaping up to be an explosive trading day to end gold & silver’s massive week! [Read more...]
BrotherJohnF discusses the House Republicans folding and passing a clean debt ceiling bill, as well as a historical review of the US debt, and discusses how the increase is likely to affect the markets as well as gold & silver in his latest Silver Update:
Debt Chicanery [Read more...]
In his latest Silver Update, BrotherJohnF discusses the incompetent and worthless regulators of the American financial system, as well as the gov’t ramping up their attacks on Bitcoin.
Silver Update: Toothless Regulators is below:
BrotherJohnF is back with another public silver update, discussing the IMF’s 2014 economic outlook.
Silver Update: Global Vampires is below: [Read more...]
BrotherJohnF returns with a public silver update discussing the US Mint’s authorized dealer rationing of Silver Eagles to begin 2014.
Is the rationing a sign of a silver shortage, or is the US Mint simply incompetent?
BrotherJohnF’s Silver Update: Eagle Rationing is below: [Read more...]
Almost unnoticed, Open Interest in gold futures has taken off spectacularly, increasing by over 35,000 contracts since the beginning of the month, which is shown in the chart below.
Money Managers have closed some of their silver shorts but are still exposed at three times their average. The squeeze in the market might also have something to do with commercial businesses locking in low prices for physical silver into the fourth quarter of 2013, with no matching increase in hedging by the mines.
So if there is a short-term crisis developing in precious metals, it could well be in silver.
Something is clearly afoot in gold & silver. [Read more...]
Gold & silver have just made a rare vertical (to the upside) move on today’s COMEX open, as the shorts looking for sub $18 silver and $1000 gold appear to be receiving the squeeze treatment. [Read more...]
BrotherJohn documents and discusses exactly how the price of silver is fixed every day in his latest Silver Update:
BrotherJohnF’s latest public silver update: Silver & Wrath [Read more...]
BrotherJohnF discusses silver’s technicals, last week’s FOMC smash, and a discussion on hard money advocates who shun silver in his latest public silver update:
Gold and silver are little changed on the week, having survived attempts to push gold lower through the $1300 level and silver through $21.25 on Tuesday. Precious metals are not the only markets to be waiting for a new sense of direction following the Fed’s decision not to taper, though in early trade today gold is showing some improvement.
The general lack of interest is shown in the charts below, where open interest on Comex is now at very low levels. [Read more...]
On this weekend’s Metals & Markets, The Doc & Eric Dubin informed listeners that silver’s strong trading Friday in breaking through the cartel cap at $20.50 in the access market could result in a big move to the upside in silver this week.
Just as predicted, both silver and gold gapped up on the Monday Asian open tonight, with silver blasting nearly $1 higher to $21.30, and gold moving $20 to the upside through $1330. After a consolidation back under $21 during London trading, gold & silver are again going vertical on the COMEX open.
Is the long anticipated short covering rally in the metals underway? [Read more...]
In his latest Silver Update, BrotherJohnF discusses Odyssey Marine Expedition’s latest haul- 61 tons of silver recovered from the SS Gairsoppa off the coast of Ireland- recovered in a record 3 miles below the surface.
Silver Update: Silver Salvage is below: [Read more...]