Today, somebody was in urgent need of physical silver…
Bo Polny joined us today for an update on major markets.
He’s calling for a major sell-off on the dollar and treasuries. He also sees a major sell-off on world stock markets as well.
It’s going to occur before summer and this will lead to a major increase in gold and silver prices.
He believes that you need to be long gold and silver and short the dollar and bonds.
Will he be right this time? We’ll know shortly.
Between the short interest in SLV, the high probability that a significant portion of SLV silver has been hypothecated in some form, and the enormous naked short interest position in Comex silver futures vs the alleged amount of silver stock available to deliver on the Comex, it’s entirely possible that a huge short squeeze in physical silver is fomenting.
Perhaps it was JP Morgan and other bullion banks who were responsible for the enormous amount of silver imported into the U.S. during Q1 2015 as a means of partially covering their naked short position in silver via Comex futures, SLV short interest and OTC silver derivatives.
You don’t have to be Einstein to understand the potential force behind a short squeeze if just 20% of the longs on the Comex decide to stand for delivery in July because they are nervous about the dollar/economy.
- Breakout– gold & silver close big week at their highs
- Surge to Weekly Close ABOVE respective 200 DMAs of $1221 and $17.20– Set up for an EXPLOSIVE Summer?
- Dollar rolling over- USDX looks ready to head to 90
- Physical Update: Big Money enters/returns to silver market with a JOLT
- GREXIT- Greece to join BRICS?
The SD Weekly Metals & Markets With The Doc & Eric Dubin is below:
The US dollar continued to lose ground this week, contributing to a firmer trend for precious metals.
Gold rose over $40 to $1223, and silver by $1.13 to $17.45, though prices initially opened a little lower in early European trading this morning, perhaps anticipating some pre-weekend profit-taking.
Gold and silver are spiking today as the dollar rolls over, with gold up $25 to $1220, and silver up over .60 to $17.25.
Both metals appear to be on the verge of a breakout…
The prices of gold and silver initially rallied this week from the lows of $1170 and $15.93 respectively last Friday to challenge the $1200 level for gold and $16.70 for silver on Wednesday, before losing about half these gains yesterday.
On the year gold, is now hardly changed while silver is up 5% and is one of the best performing assets in financial markets over this timescale.
Precious metals appear to be locked into the same torpor as other markets, but there are two developing stories:
SD reader RS writes:
Wwould you please advise if this is a good time to purchase either silver or gold?
Would you advise buying in increments each week or in one bulk purchase?
Dollar cost averaging by buying in increments each week or month does have several advantages, particularly emotionally.
For example, if you put 100% of your assets into gold or silver immediately in one lump allocation (or into any investment for that matter), if price temporarily declines 5%, 10%, or even 20%, you will (over the immediate short term) emotionally feel like you made a mistake and should have waited for the further decline.
Huge story of the day: Overnight a huge rise in bond yields occurred, then central bank intervention arrived to lower yields.
However, derivatives were detonated on the sudden massive spike:
With gold & silver taken to the woodshed once again while China was closed, Harvey Organ joined us for an explosive 100th Episode of Metals & Markets, discussing:
- Metals Smash All About Options Expiration With China Closed On Holiday!
- 3 Separate MASSIVE Derivatives Messes Could Each Send the System to SMITHEREENS!
- Why Hypo Bank’s derivatives could take down the entire system
- Greece On the Brink Of Default- the $5 Trillion End Game is Unfolding!
- Harvey Reveals the Signal to Watch For That Will Indicate Gold is Going Through the Roof!
The SD Weekly Metals & Markets With The Doc, Eric Dubin, & Harvey Organ is Below:
This week started with a sharp bear squeeze, which took gold from $1178 to $1214, and silver from $15.70 to $16.71.
These higher prices on Wednesday proved to be the peak for both metals, before they fell back sharply Thursday on better than expected US initial jobless claims. The Federal Open Market Committee’s FOMC statement, which admitted the US economy is softening, had little effect when released yesterday.
We can be fairly sure the rise in the gold price on Monday and Tuesday was due to bears being squeezed:
TFMetalsReport’s Craig Hemke joins Finance & Liberty for an in depth interview discussing:
– Short squeeze in the silver market
– What is happening to the gold market?
– Does JPMorgan have a silver stockpile?
– The tie between the Yen and gold
– Renewed hostilities in Ukraine
– What impact is the Ukraine situation going to have on the markets?
Hemke’s full interview is below:
Yesterday was options expiry on the COMEX. On Thursday we will have options expiry on the LBMA in London and on the OTC market as well. It was no surprise at all to see the bankers try and whack gold and silver.
Their attempt today was quite feeble.
My solution to the coming global economic collapse is to convert ALL YOUR PAPER MONEY and any you can get your hands on any way you can, into physical silver and gold before September at ANY PRICE.
The reality is that these hard assets will be used to build the basis foundation of the coming one world currency, after the global economic crash in September and the ensuing world wide chaos it causes when currencies fail, trade fails, and people do not have food.
Get ready NOW!
Today is options expiry on the COMEX. On Thursday we will have options expiry on the LBMA in London and on the OTC market as well. Today was a welcomed change from our bankers normal behaviour of whacking silver and gold during options expiry week, however we still have 3 more days before first day notice.
The big story of the day: China is set to do its own QE. This was the rocket that propelled silver and gold today.
Gold and silver just look weak right now. Silver might be ready to put in a low based on Friday’s price action, but we’re not as sure about gold…
Monday is options expiry on the COMEX. On Thursday we will have options expiry on the LBMA in London and on the OTC market as well. The bankers ALWAYS whack the precious metals prior to and during options expiry week.
The boys are also very concerned about the high OI in silver.
Our bankster friends are at it yet again…
For the first time EVER a negative Euribor rate.
This means that the borrower of treasuries in a swap for euros receives cash as a bonus for entering the deal!!
What is the real reason for this??
With gold starting to go vertical in overnight Asian trading, the boyz in London and NY got to work this morning, with waterfall declines plunging both metals through round number support: