With volatile trading around key support/resistance in gold & silver and geo-political tensions rapidly escalating with Russia, T. Ferguson of TFMetalsReport joins the show this week to discuss:
- Tuesday’s cartel raid which saw gold & silver smashed below key support at $1300 and $20, the reasoning behind it, and why gold is setting up beautifully for a run to $1500
- Ebola pandemic? Is the Ebola crisis dominating the news merely an MSM agenda, or are we looking at an imminent global pandemic the likes of which have not been seen in 100 years?
- Trade wars escalate as Russia bans food imports from Europe, Ukraine threatens to block Russian natural gas pipeline, meanwhile crude plunges 10%? Why The Fed may likely be manipulating oil to the downside to harm Russia/Putin
- Outside of new releases such as the 50 Year Anniversary JFK Gold Proof & RCM Bald Eagle , physical silver demand declines in the US as US Mint sales down substantially, yet physical demand is screaming in Asia as Shanghai silver inventories have been depleted by 90%– nearly 1,000 metric tons over the past year!
You won’t want to miss this week’s Metals & Markets With The Doc, Eric Dubin, & T. Ferguson:
Source: William Banzai7
Another week has come and gone. It was a pleasure to have “Turd” of the TFMetalsReport.com on this week’s show. His good humor is infectious, and if you can’t laugh at the insanity of our world we’d all be the poorer.
The smell of war and pandemics are in the air, making it harder for the powers that be to keep gold down even after visible raids. Silver trading stinks – a formal “technical” term, as Turd would say. But even with silver, the cartel is challenged to move the metal much below $20 for any significant length of time.
One of the more interesting stories this week was published by the SRSRocco Report concerning plummeting Shanghai Futures Exchange silver inventory. Click here for the report. As our regular listeners know, we’ve been polling our guests over the last month about the highly unusual near record levels of silver open interest at the COMEX versus gold open interest. Historically, open interest in gold and silver tend to march together.
Turd agreed that David Morgan’s speculation could very well explain the situation, with the continued rolling over of long silver positions at COMEX serving as general exposure to an upside move, but more importantly also insurance providing a big buyer the ability to draw physical silver (up to the extent the regulators would permit it — think Hunt Brothers; but that’s another story altogether).
If physical buyers are hoovering silver at the Shanghai Futures Exchange, where are they going to turn when the inventory drops to a level that can’t support the rate of current accumulation? Are they partly behind the paper accumulation at the COMEX? Hard to say… But these are key questions for further research, and we kick this discussion around with Turd.
Gold Demand In India
We didn’t discuss this on the show — pressed for time. But it’s important to point out that gold demand is rising, and it’s linked to the Indian jewelry market. Indian media has started to report on this. Click here for an example (Thank you, Chris Powell). It remains to be seen just how long the cartel can keep a lid on precious metals advances. But we’re now in the highest seasonal demand period for gold, and odds are the cartel will have to let gold and silver rise in a “managed retreat” effort.
The U.S. House of Representatives Foreign Affairs Committee held a hearing on Ebola this week. Click here for video and written testimony. TFMetalsReport contributors analyzed that testimony and the subject in general. We briefly touched on that in this week’s show. Click here to check out the TFMetalsReport discussion.
Correction: JFK Proof Gold Coins
During the show I said that the US Mint halted sales. I got the story half correct. They halted sales at the “World’s Fair of Money” convention in Rosemont, Illinois. Click here for the story. Apparently, the Mint feared for the safety of their employees given off-the-chart demand.
Thanks for tuning-in! — Eric Dubin, analyst and managing editor, The News Doctors