Silver News

The Mission Of The Silver News Surfer Has Always Been & Will Always Be - To Preserve Your Wealth, Protect Your Purchasing Power and Create Generational Wealth!

May Health Wealth And Success Be Yours!


Gold Shorts Cover At Fastest Pace In 13 Years

August 13, 2013 8:57 am est

The Mission Of The Silver News Surfer Has Always Been & Will Always Be – To Preserve Your Wealth, Protect Your Purchasing Power and Create Generational Wealth!

May Health Wealth And Success Be Yours!

On to the business of protecting your wealth…

I wanted to share a quick story with you today, maybe this is happening to you too.

I have been reading and personally witnessing through conversations that people are waiting a long time for their deliveries of physical gold & silver… In some cases 6-8 weeks – Not from me they’re not!

I had a customer ship me some 100 oz silver bars and in exchange, he wanted silver rounds (as well as some other things) He sent his metal out to me from the US Postal service and on the same day we sent him his – The interesting part of this story is the metal crossed in the mail and he got his delivery of our metal two days before we got his… a total of 7 days for delivery.

If you are looking to acquire physical silver and gold and you don’t want to wait 4,6 or 8 weeks, you now know you have a faster source. You can either go dial up slow or DSL fast…

Commodity Trader Tells Bloomberg TV Of ‘Huge Run’ On Physical Gold – Bloomberg News television today lets Mihir Dange, co-founder of commodity trading firm Grafite Capital, remark that his company bought physical gold eight weeks ago but still hasn’t gotten delivery yet. Dange says “there’s a huge run on physical now.” Dange’s comment begins at the 1:30 mark in the video here:

Watch Here

So, When Top Citi Analyst Tom Fitzpatrick Says Here Is The Roadmap To $3,000 Gold & $100 Silver who am I to question someone of his status and track record?

When 40-year veteran, Robert Fitzwilson Shows Us How Investors Can Navigate The Chaos Of Today’s Markets, maybe I should take some of his advice.

When 50 Year Market Veteran John Embry Says The World To Witness A Frightening & Historic Financial Holocaust, Should we ignore him and say this guy doesn’t know his arss from his elbow – I don’t think so. I think he knows exactly what he’s talking about, its just the time he can’t put his elbow on.

When Micheal Pento, Founder of Pento Portfolio Strategies saysThis Will Create Panic & Ignite Unprecedented Money Printing, should we be taking necessary precautionary measures or just dismiss his warnings?

My point is that these are the BIG boys on the block. They know what they see and they know what will happen, its just a matter of time. Be safe out there guys, its a very dangerous world we live in now.

 

 

Allow me to assist you in understanding these ever changing and challenging financial markets and more importantly, how you can profit on the upside potential and protect yourself from the downside risks….

Now, onto the breaking news that matters…

Unprecedented & Historic Events In Gold & Silver – What is happening here in the gold market is truly remarkable.  It is a situation that undoubtedly will go down in the history books.  Gold is now in its sixth week of backwardation. “Over the past 6 weeks gold has climbed an additional $100.  We are also continuing to see drawdowns in visible inventories as gold is relentlessly being shipped from West to East.  The bottom line is that people in the East understand gold’s monetary value, and this is why physical gold is heading East in record numbers.  Yet despite the higher price, gold still remains in backwardation which is simply astounding.

There is only one conclusion to draw from this situation:  Physical gold is still too cheap, even here at $1335.  Gold backwardation cannot happen in theory because physical gold cannot be “printed,” so its purchasing power cannot be inflated away by governments.  And because it is a tangible asset, physical gold does not have counterparty risk. Silver is adding more fuel to the fire, Eric.  Note how it is finally outperforming gold.  So the gold/silver ratio has started falling once again, which is yet another piece of evidence that both precious metals have made an important low.

This is another indicator that the metals have begun new up-legs in their major multi-year bull markets.  And given the unprecedented backwardation in gold, investors should expect this up-leg in gold and silver to be spectacular.  Meaning, this move will be more remarkable than anything gold or silver have seen over the past 13 years.”

Read More Here

Gold Shorts Cover At Fastest Pace In 13 Years – Gold shorts covered an enormous 23,518 futures contracts last week – the equivalent of 2,351,800 ounces of gold. With JPMorgan appearing to be calling everyone (here [2] and here [3]) to get their hands on gold to deliver, it seems our concerns over a short-squeeze are starting to solidify [4]. The last time shorts collapsed at this fast a rate was in the 1999/2000 period which saw a considerable 33% squeeze ramp in gold prices over the space of 3 weeks in the fall of 1999.

Notably, the gold short position still remains huge compared to historical values – having fallen back only to the previous all-time record high levels (i.e. plenty of room for more squeeze). In addition to this surge in covering, Gold ETFs saw their first inflows in 2 months.

See Charts Here 

Also Read… Chinese Demand, SPDR Inflow, Buy Stops, Short Covering Boost Gold

What The Heck Are They Doing, Eating The Stuff?! – Gold consumption jumps more than 50pc in China – China consumed 706.36 tonnes of gold in the first half of 2013, up 54pc from the year-ago period, the China Gold Association (CGA) said in a statement on its website on Monday. It consumed 832.18 tonnes in all of 2012 and about 460 tonnes in the first half of 2012.

“China bought a lot when prices fell below $1,350 in April thinking it will not fall further,” said Chen Min, precious metals analyst at Jinrui Futures in Shenzhen. “They bought much more than usual in April and May to meet the need for later in the year.”

Read More Here

Is Silver Setting Up For Significant Upside Price Action This Month? – This year’s dramatic gold and silver price declines are big news. However, since July price lows, some gold and silver analyst are suggesting a price bounce may now be underway, particularly in silver, which at a fundamental level may possess certain additional positives.

Silver is used more broadly than gold for industrial purposes. Silver demand overseas, particularly in Southwest Asia, has recently been reported to be reaching record levels. Silver coin demand in North America is stronger than ever on certain measures. HSBC, a significant bullion bank, sees silver prices remaining in a new and lower trading range this year, but still sees a potential upside target for the precious metal 3 points higher than its current price occurring sometime before year’s end. Recent options activity in silver also appears more bullish.

Read More Here

Gains, Pains & Capital

Are You Prepared For a Market Meltdown?

 

The markets are skating on very thin ice.

Stocks have hit new all time highs, but the ugly realities beneath this move in the markets have got many of the world’s most elite investors scared stiff.

Consider the following.

  • ¥ Warren Buffett, arguably the greatest investing legend of the last 100 years has dumped many of his consumer discretionary holdings and is sitting on the single largest cash hoard of his entre career (he definitely doesn’t think it’s time to buy).
  • ¥ Stanley Druckenmiller, investing legend, and former partner of George Soros has closed his hedge fund stating “…I see a storm coming. Maybe bigger than the storm we had in 2008 to 2010…”
  • ¥ Jim Rogers, famed investor who made so much money that he retired at the ripe age o has warned that 2013 will be a disaster “… if you are not worried about 2013, please, get worried”

These guys have collectively made billions from investing. And they’re all terrified by what’s happening in the economy and the markets today.

It’s not difficult to see why.

Japan’s bond market is on the verge of imploding. Remember the impact Greece had on the markets? Well Greece’s bond market was just $450 billion. Japan in contrast has a bond market is over $7 TRILLION in size.

Europe is facing the single longest recession in its history. Youth unemployment is over 50% in some EU nations and total unemployment is nearly 20%.

And then there’s the US where 76% of Americans are living paycheck to paycheck with little to no emergency savings. And nearly 30% had NO SAVINGS AT ALL.

In simple terms, if you are not preparing your portfolio and your finances for a financial meltdown, you need to so now!

Graham Summers, Chief Market Strategist

Phoenix Capital Research