Get_Ready_for_SummerRick Rule, Chairman of Sprott US Holdings Ltd. said in early March that the market looked overheated and was due for a pullback.
Gold and silver had just delivered double-digit gains in a few months.   Sure enough, from mid-March until early June, the precious metals gave up much of their gains.
Since early June, resource stocks have surged higher once again.2 So the question on my mind was: Where is gold headed for the remainder of the year? Will this rally pull back?
Rick recently gave me his answer:

gold bottomGold was expected to ‘begin a rise in May, continue into June, and make a TOP in June before reversing into a Final Summer Low’.
A final summer low is still ahead for Gold.
Since the bull began in 1999, every 7th year Gold takes a Sabbatical Rest.   T
he first was in 2006 when gold traded to $650.  Gold has completed its second cycle of sabbatical rest as of June 2014.
The coming summer low will be the FINAL ENTRY LOW and the ‘Buy-of-a- Lifetime’ before a Moon Shot to $2000 by year end!

Starting this summer Gold will begin its final 7 year cycle (2 x 3.5 years) climb to over $2000 in 2014 and $10,000+ into the year 2021! 

india silverFollowing public statements is a way to lose not gain money.
What would be interesting to me might be learning that the local coin shop did a brisk business buying from retail back into stock.
If I were to buy at the same price and time I would be on the other side from retail, and more optimistic. In matter of fact, my optimism for a good trade would be pretty much inversely correlated to the pessimism of the small traders as a group.
But that, while a step forwards, is still not enough.
This really is a tough business, and every newcomer has to learn that the same expensive way.

silver smashFollowing Monday’s $1.3 billion paper gold dump on the COMEX open, the cartel has hit gold and silver again Tuesday, and has finally succeeded (for now) in driving spot gold back under the critical $1300 level- but it took twice the amount of paper used yesterday, as an astonishing $2.3 BILLION in gold futures were just dumped on the market. 

Play

silverIn the latest SD Weekly Metals & Markets, The Doc & Eric Dubin discuss: 

  • Silver’s 6-week climb isn’t over- Eric Dubin predicts silver to soar nearly 20% in July- and likely reach $25 by the end of the month!
  • European banking crisis as Portugal’s Banco Espirito Santo nears collapse & the return of bail-in risk: Why depositor bail-ins can’t stop a derivatives contagion!
  • Manipulation won’t die with the London Fix: Thompson-Reuters & CME chosen to run electronic silver fix beginning August 15th
  • France joins Russia & China in threatening to dump dollar for international trade- why the dollar is now OUR problem

The Doc & Eric Dubin break down the trading week & discuss what’s in store for the summer below: 

bail inConfirmation of why Europeans might be buying physical gold arises from concerns over the financial health of Portugal’s Banco Espirito Santo, which has undermined share prices of the entire Eurozone banking sector.
The ghost of the Cyprus bail-in may be returning to the financial stage. 

rocketI have written lately predicting the world wide economic crash of 2015 in an effort to warn MANY of the event and this note is to give understanding into how silver and gold will rise once the event is in FULL SWING.
What happens if TRILLIONS of cash dollars and other currencies seeks a home in these gold futures within a few hours or few days of desperation trading on the COMEX?
The question, my friends is how high does gold go as TRILLIONS rush into the gold market (and other futures markets)?
5th grade math gives us the answer: $200,000/oz gold & $4,000/oz silver. 

stormIn the radio interview below Steve Quayle’s European banking source V (the Guerrilla Economist) discusses a warning code just released by the banksters that: “something very, very big is about to happen” to the silver market. 
It appears that the timeline for the economic conflagration has been moved a little closer than we thought.

As the MSM, Wall Street and various so-called analysts waste time focusing on worthless and insignificant data, the price of silver is positioning itself for the coming TWO-STAGE RALLY.
The majority of the precious metals analysts discuss the revaluation of silver as it pertains to the amount of fiat currency in the system.
While this is a good determination (from past historical guidelines), it only deals with one part of the overall equation.
The second and maybe the more important factor… is the destruction of “PAPER CLAIM CHECKS” on physical assets.

launch rocket verticalYou are literally going to see gold and silver skyrocket well past the Moon and other planets and could go as high as some nearby galaxies next year in 2015 as the “crash of biblical proportions” comes to pass.  
All the trillions of dollars in fake fiat paper money around the world will rush to buy the physical metal and ALL of it will be GONE in gone single hour, all around the world.
The worldwide physical silver and gold market is very very VERY TINY.   Once the signs of worldwide economic collapse become apparent, just hours before the crash that devastates ALL the economies of the world IN ONE SINGLE HOUR as the derivatives domino game comes crashing to a halt and massive fear instantly spreads around the world, all the fiat paper money will seek hard assets as a safe haven for maintaining their value.
The precious metals dealers will literally shut down their phone lines, and trillions of dollars in paper fiat capital is going to roar into the precious metals paper fiat fiasco better known as the New York Commodities Exchange and other fiat futures casinos around the world.
It will be an explosion or SHOT heard round the world as everybody throws whatever cash they have into this completely imagined safe haven, which is not a safe haven at all but a casino of order of magnitude in the hundreds of paper futures above a tiny amount of real metal in COMEX warehouses.
What levels could gold & silver achieve in a derivatives contagion?  Valuations so shocking Jim Sinclair’s price forecasts are bearish!

Alasdair MacleodIt may be just coincidence, but stories about multiple rehypothecations of physical metal in China’s warehouses have emanated from sources involved with trading in these metals.
These traders have had to take significant losses on the chin on a failed strategy, and may now be moving towards a more bullish stance, because China’s warehouse scandal has not played out as they expected.
So two certainties, the collapse of both the yen and of Chinese economic demand don’t seem to be happening, or at least not happening quickly enough.   The pressure is building for a change of investment strategies which is likely to drive markets in new directions in the coming months.

Gold Open Interest 04072014 Gold and silver spent most of last week consolidating recent gains by moving broadly sideways, but their underlying strength was a notable feature.
The increase in open interest tells us that the rise in price was on the back of buying rather than a bear squeeze, which would have seen rising prices on steady-to-declining OI.
This is an important development, because it indicates that speculators are beginning to think the downtrend of the last 30 months might be over. 

gold bull marketThe precious metals are shrugging  off the fears engendered by market analysts – (especially technical analysts) – from which reports are proliferating that the market is going to get slammed hard for the next few weeks starting this week.
Silver was hit hard on Friday after the NYSE closed.  The period between 4:00 p.m. EST on Friday (NYSE close) and the close of the Comex computer Globex system – 6:15 p.m. EST is usually the lowest volume period during the entire trading week.
This is when the manipulation from the big banks kicks into high hear.  
They took silver below $21 in the last 35 minutes of the Globex session.  Nice, eh?

SeptDXWhile gold, silver and mining shares catapulted from overnight and early attempts to manipulate them lower…
The U.S. dollar has lost the psychologically important 80-handle, it lost its 200 day moving average on Friday and its 50 dma today. 

summerIt is three weeks since the managed money category on Comex placed their biggest bet ever recorded in recent times that silver was going lower, and also bet big-time that gold would sink below $1200.
As is often the case when traders are so commonly committed to a price outcome they end up nursing some painful losses.