Archive for category Silver & Gold

Historically Low Gold OI Levels

via: TFMetalsReport
August 7, 2012

I was going to post this into the previous note but then decided that it needed it’s own thread.

The Gold Comex is dying. As we speculated late last year (http://www.tfmetalsreport.com/blog/3120/thought-experiment), confidence in the fairness of the CME and Comex is leading investors and traders worldwide to exit the exchange. Growing awareness of the paper game manipulation is surely affecting things but, in my opinion, the biggest driver of this exodus is the failure of the CME Group to adequately backstop customer accounts following the collapse of MFG last October and PFG last month.

The proof is in the numbers so let’s go back and review some so that we can look at this in the proper perspective.

3/21/09 - QE is just beginning as the world is stabilizing following the events of 2008. Total gold OI is 388,000.

12/30/09 - Gold ends the year near $1100 and the total OI has risen to 491,712.

11/11/10 -  Gold is now $1400 and QE2 has just been announced. Total OI is now 644,738.

1/25/11 - We had the huge and strange story about a massive, deferred month hedge being taken off and total OI fell 81,000 contracts in one day to 499,000. Very strange.

Continue Reading At: TFMetalsReport.com

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Embry: Expect Squeeze In Gold, Price Headed Multiples Higher

via: KingWorldNews
August 6, 2012

Today John Embry told King World News, “I have been a long time proponent of the idea that we may very well be at peak gold production in the world.” He warned, “We may have seen the peak.”  Embry also stated that he believes we are headed towards a, “… classic supply/demand squeeze.”  This will send gold, “… to multiples of the current price.”

Embry, who is Chief Investment Strategist of the $10 billion strong Sprott Asset Management, discussed both gold and silver, but first, here is what Embry had to say about the ongoing crisis in Europe:  “Over the weekend they accepted more collateral at the Greek Central Bank so they could make their payment to the ECB.  So I think they will do what they have to, to keep this thing moving forward.”

John Embry continues:

“But the thing that’s the big problem, and question is, are the funders, Germany, Finland, the Netherlands, etc., do they have the balance sheets and the economic strength to bailout these peripherals in the South that are in horrific condition?

And even if they do, do they have the appetite to do it?  All I can tell you is that it’s an enormously serious problem….

Continue Reading At: KingWorldNews.com

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Libor May Be Manipulated, But Silver Is Not, CFTC To Conclude

via: ZeroHedge
by: Tyler Durden
August, 5, 2012

Tyler Durden's picture
In what may be the most amusing news of the day, according to the FT the CFTC will shortly drop its 4 year old investigation into silver manipulation, “after US regulators failed to find enough evidence to support a legal case, according to three people familiar with the situation.” How about evidence to support an “illegal” case? Of course, that this is happening after the recent discovery that the world’s most pervasive fixed income benchmark was manipulated for years, if not decades, can only be reason for laughter and wonder if the CFTC used the same assiduous diligence methods in pursuing the alleged perpetrators of precious metal manipulation as it did in letting the fraud at PFG slip through its fingers for two decades. We will probably never know, or at least not until an email mentioning bottles of Bollinger and silver price “fixing”, (or “banging the close” for that matter) in the same sentence inexplicably turns up and makes a complete mockery of the CFTC yet again.

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RON PAUL vs BEN BERNANKE: SILVER is MONEY! – Megan Duffield

via: UnconventionalFinance
August 5, 2012

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