Metals & Markets: US Wants War! How Will it Affect the Metals?

In this week’s SD Weekly Metals & Markets The Doc & Eric Dubin discuss: 

  • Last week’s forecast nailed the short term top for silver at $25.25, where to now for gold and silver?
  • Wholesalers reporting “people were dumping” physical silver onto the market near $25- retail shortages ease significantly
  • Syrian rebels reportedly admit to “accidentally” deploying chemical weapons, yet US preparing to launch Syrian invasion unilaterally as soon as this weekend- How will it affect the metals?  Major Risk of rapid regional escalation.

SD Weekly Metals & Markets with The Doc & Eric Dubin is below:


War Bird

– Our forecast was spot-on when it came to silver hitting a brick wall somewhere between $25.25-$26, but interestingly enough, it appears it took an absolute mauling of mining shares to change sentiment and ensure that “facilitating” of an expected technical resistance point succeeded in bringing metals downward;

– Eric’s tracking of mining share signals and his reports this week proved on target;  however, it should be noted that global buying of physical kept bullion prices high throughout even the access market trading Wednesday evening as the march to war inspired extremely high physical demand;

– Doc discusses some let-up in tightness in the physical market;  we speculate that much of the selling probably came from longer-term holders that were buying well before the major take-down that started in April, and one key indicator that might help support that theory will be what happens to premiums and supply of 90% US silver coinage within the next two weeks (listen to the show for more detail);

– The current correction is normal after a big run-up (even though the Cartel helped push the correction along given action in the mining share space in particular);  we do not expect significant downside risk beyond about another dollar in silver (roughly $22.50);  Options expiration is now in the rear-view mirror and in fact, there were considerable large buy orders scooping up mining shares at the close of each of the last three days after bombing raids blasted prices lower (see the GDX as an example);

– The Doc and Eric dive into the geopolitical swamp and discuss last week’s chemical weapons attack and important stories this week that strongly suggest the US is fixing intelligence around the policy of striking Syria; that sounds very much like the “Downing Street Memo” of 2002 in relation to justifications for going to war in Iraq; this civil war has been going on for about two years and we have to rush and not have UN inspectors take one week to EASILY prove or disprove what happened?  That’s insane;

This weekend will certainly see much news breaking when it comes to the Middle East.  Keep an eye on  We’ll have ongoing coverage and analysis here.


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