On this week’s SD Weekly Metals & Markets we cover:
*This week’s historic smash in the metals which saw gold complete it’s worse quarter in decades and fall to $1186, and silver drop another $3 to $18.20 in what can only be described as panic driven capitulation
*Doc’s Physical Market Re-cap: Silver supply issues re-emerge as spot price smashed under $20
*Smart Money: Asian demand greater than 2-to-1 Western “paper” dishoarding
*1970s Cyclical Bear vs. Current Metals Correction: Is history repeating or is the bull market over?
Picking a bottom is virtually impossible with the cartel gang lurking around. We never can be certain when their “managed retreat” strategy is flipping over into “retreat” mode. But there are hints that we might be setting up for a bottom. Previous strong support levels of $26 and $22 silver obviously didn’t hold, but falling below $18 would have erased nearly 3 years worth of bull market action, leaving silver well below the cost of production. As with gold, declining prices has boosted physical demand. Silver’s strong fundamentals remain, and Friday’s leap higher prior to the London PM Fix isn’t just short covering. It tells the story of the need to source physical silver out of the LBMA, which was only possible going into the fix at a much higher price.
SD Weekly Metals & Markets with The Doc & Eric Dubin is below: