HarveyOrgan1

Tomorrow is options expiry on the comex and on Friday we have options on the OTC contracts for both silver and gold.  Thus expect both of our precious metals to be under the fire as the crooks use non backed paper and gold paper contracts to suppress the price.
Let’s head immediately to see the major data points for today:

panic

It has been panic over for the moment in the markets and back to business as usual for precious metals.
However there are signs of good underlying demand for physical gold, with the Shanghai Gold Exchange delivering 68.37 tonnes into public hands over the holiday period (two weeks with only five trading days), and a further 51.5 tonnes last week.
The chart below shows gold withdrawn from the SGE this year, totalling 1,547 tonnes so far, on course for a 1,900 tonne total this year, only 300 tonnes short from the 2013 total:

gold silver ratio

Not everybody is aware that there is a big debate among precious metal investors regarding the importance of silver to protect from the dollar’s demise. We have a similar debate that is better known when it comes to precious metals versus Bitcoin and other virtual currencies.
Many precious metal investors disregard Bitcoin as a proper mean to store wealth and protect from currency crises while at the same time many in the Bitcoin community are not interested in investing in precious metals.
Indeed, I’ve asked that question of who was invested in gold and silver at a recent Bitcoin event and I was somewhat surprised at how few hands raised up.
But this debate among precious metal investors is not known by many and I’d like to bring it up here and at the same time tell you why I personally favor silver over gold, although I think both should be owned in this current environment of dying paper.
Precious metal investors might be grouped in 3 camps:

HarveyOrgan1

Today, we had a huge withdrawal in inventory at the GLD. of 2.1 tonnes.
On the 22nd the LBMA stated that they will no longer publish GOFO rates.

It looks to me like these rates are now fully manipulated. 

asian gold demand

China is still in a holding pattern ready to pounce when needed.
The open interest on silver is  still highly elevated.  Gold has a low OI with a low gold price.  Silver has a high OI with a low silver price.  Something has got to give!!
Let’s head immediately to see the major data points for today…

tfmetalslog

In the second part of this excellent interview with Finance & Liberty, TFMetalsReport’s Craig Hemke discusses:

  • Gold, silver, platinum, palladium: What are the best precious metals to invest in? 
  • Coins, rounds, or bars: Are government minted silver coins better than silver rounds?
  • Shortage- what shortage? When is a silver shortage going to hit? 
  • How do we predict the timing of an economic collapse?
  • Will gold or silver protect you in a coming hyper-inflationary currency collapse? 

Craig Hemke’s full interview is below: 

sprott

As part of our weekly webinar series, it was a distinct pleasure and honor to welcome Eric Sprott.
In this wide-ranging, 47-minute discussion, Eric offers his comments and analysis on:

  • Chinese gold demand and the continuing drawdown of the GLD.
  • Market conditions needed to facilitate an expansion of the PHYS and/or PSLV.
  • The mining stocks. Eric also offers his key metrics for evaluating miners that can make it through this current downturn.
  • What mistakes we’ve made over the past three years and how to prepare for the future.
  • The ongoing deviation of the gold: silver from historical norms.

Full MUST LISTEN interview with Eric Sprott is below: 

smash

The Federal Reserve and bullion banks, through decades of body-slamming the silver “market”, have actually removed silver so far from “Bubble” status, that you couldn’t see it with the Hubble telescope!
Instead of expanding upward and outward, it has been forced inward and downward, through the numerous crimes of these crooked institutions.
In fact, silver has become something far more unusual
: it has become a reverse/inverse bubble.
It has far undershot any sane and fair valuations.  It hasn’t just limbo-ed under the bar of rightful value, it has taken the subway, and then jumped down a mineshaft, and crawled safely 5 miles below those bars of rightful value!
The true bubble in the world is the 1 quadrillion(1,000 trillion) dollar OTC derivative market.
The true bubble in the world is the U.S. treasury market.
The true bubble in the world is the U.S. dollar, which is simply a debt unit that the U.S. treasuries are measured in.
Those real bubbles have been propelled where they are, by governments and banks simultaneously smashing silver’s price through the earth’s crust.
But all those bubbles are about to meet a hard, silver wall of reality.
Silver’s moment will arrive.

gold bottom

This bottom may be the longest yet.
This is psychological warfare and does not resemble the true PM physical market at all but it is contrived through manipulation to depress speculation so that physical buyers will stay away from PMs and trust bonds and equities while Ebola and ISIS rip up the daily headlines.
The DOW is off 1,000 points in just a few days, fear of deadly disease or decapitation stories is gripping the news and gold and silver have plummeted?

Does any of this make any sense?  FEAR UP, gold down?
Can you spell M-A-N-I-P-U-L-A-T-I-O-N ?
Stay thirsty for physical, my friends, the day of redemption draws near!

falling-bear

The outlook for gold is now more positive than it has been for some time. After a prolonged period of low volatility as funds invested in ever-greater risk, markets have snapped and volatility has jumped.
In short, we are swinging very suddenly from complacency to reality.