beach ballThe reduction in gold’s open interest on Comex, which has fallen nearly 110,000 contracts since 16th May, informs us that speculative positions worth $13.6bn have been extinguished, and the Comex market is no longer overbought.

silver precipiceAfter our conversation with John Embry about the silver market, the discussion wandered into the housing and mortgage market on an ad lib basis. Below is our bonus footage with John Embry about the forthcoming systemic debt collapse led by mortgage and auto leverage:

GC D 28 May 16The rally in both gold and silver has been a significant change in market behavior, and these changes are telling the world that the decline from 2011 may have  ended.
Volume is the energy behind every move.  Without it, no trend can be sustained.  Always remember, exceptionally large volume is when smart money movers are in action, either covering old or taking new positions, in the market.  It is during these high volume events that one can see the “footprints” left behind by smart money movers.
It appears that smart money is preparing for the advance almost everyone else has been waiting for…

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Alasdair Macleod Joins the Show From London for a Special Edition of Metals & Markets, Discussing: 

Doc, Dubin, & Alasdair Macleod Break Down the Action In This Holiday Edition of Metals & Markets: 

gold bullIn this Critical Market Update, the Silver Admiral Eric Sprott discusses the big recent decline in metals prices caused by recent concerns of an imminent Fed rate hike.
Can The Fed stop a “Totally Crazy” Bull Market? 

endThe United States has been in a state of declared national emergency since the elites forced the US into bankruptcy on 9 March 1933.  Every president, upon being sworn in, has to formally renew the national emergency.  Why?  When under a state of national emergency:

gold or fiatThe amount standing for gold at the comex in May is simply outstanding at 6.886 tonnes. The previous May 2015, we had only .08 tonnes standing so you can certainly witness the difference as the demand for gold by investors/sovereigns is on a torrid pace. This makes the excitement for June gold that much more intense as more players are refusing fiat and demanding only physical metal.

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gold bullWith Gold and Silver Hit Hard This Week On The Fed’s Rate Hike Threat, Craig Hemke Joins the Show, Discussing:

  • Support at $1250 & $16.50: Will Gold and Silver Hang In There?
  • THIS IS THE HAMMER – Chinese Buy Barclay’s 2,000 Ton Gold Vault Built in 2012
  • Why Won’t Anyone Stand For Delivery and CRASH THE COMEX? 
  • Fundamentals Snap the Game!: “We’re Shaping Up For Something That’s Going to be MONUMENTAL” 
  • New Bull Market Is SNORTING – Institutional Investors Are BTFD! 

Doc, Dubin, & Craig Hemke Break Down All the Action In a Critical Market Update: 

SprottEric Sprott breaks down this week’s huge gold and silver raid as the Fed threatens a rate hike in June, resulting in carnage in stocks and paper gold and silver
Is the smash just getting started, or is this the pullback opportunity for buying gold and silver that funds and institutional investors have been waiting for?

fedGold and silver had a down week, correcting some of their overbought condition.
It’s obvious that after a run up of $250 from the December lows, some price consolidation would be natural.
The consolidation so far has only been relatively minor, testing the 55-day moving average currently at $1250, with real support coming in at the $1200 level: