Gold & Silver Lose Their Attraction For Wealth Retention

Gold tumbled again this morning to trade at 1197.90 and is expected to end the year just under the $1200 price level. Gold continues to lose its appeal for wealth retention and as a hedge against inflation as the US is showing a strong recovery and the global recovery seems to be well underway. Silver fell by 130 points to trade at 19.485 while palladium remains in the green adding $2.90 trading at 712.40 as its industrial demand edges up with increased auto sales offers more demand for the metal for catalytic converters. Platinum dipped by $1.45 to trade at 1358.90 following cues from the precious metals family. Gold prices fell on Monday below $1200 an ounce, heading for its biggest annual loss in three decades as U.S. equities soared to six-year highs and prospects of global economic recovery boosted appetite for riskier assets. Gold would be facing the first annual loss since 2000 while silver is set for the worst annual performance since 1981. According to CFTC, hedge funds and money managers cut their bullish bets in gold and silver in the week to Dec. 24. Gold ETF’s witnessed outflows of 864.8 metric tons in 2013 which were more than combined inflows in the previous three years, wiping about $73.7 billion from gold funds. Gold prices are expected to move further down as strong US growth prospects and gains in equity markets are likely to hurt gold prices. Precious metals fell in thin holiday trade on Monday, heading for its biggest annual loss in more than three decades at nearly 30 percent, as rising appetite for risk and the prospect of a global recovery tarnished its allure.
http://www.fxempire.com/news/commodities-news/gold-silver-lose-their-attraction-for-wealth-retention/ MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet

Gold & Silver Lose Their Attraction For Wealth Retention

MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet

5 CHARTS: The Real Story Behind Silver

 Steve St. Angelo, SRSrocco Report
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As the world continues down the road of self-destruction via its highly leveraged paper financial markets, there's a much more fascinating story worth looking at. Hidden from the majority of the public and misunderstood by many of the so-called professional metal analysts, is the Real Story Behind Silver.

One of the reasons why we are all in such a big mess today, is due to the failure of the analyst community to provide the public with honest, meaningful and proper data and information. As I have mentioned several times before, there's only a few good analysts out there.... and a whole bunch of losers. Unfortunately, the investing public has no idea that it is being misled due to this increasingly worthless shortsighted analysis.

Thomson Reuters GFMS put out a new Silver Update last month that was already covered by BrotherJohnF's website last week (which many have already seen). However, I took some time to closely examine the presentation and found some interesting charts worth explaining.

The first chart below has to do with the change in Silver Bullion Coin Sales. According to GFMS, they show approximately 43 million oz in silver coins sold in North America in the first 9 months of the year.
 North America in the first 9 months of the year.

They don't give you the exact figures, so we have to just eyeball the red bars and estimate what the amount would be by the scale on the left. I came up with the following:

2013 Q1 = 14 million oz

2013 Q2 = 15 million oz

2013 Q3 = 14 million oz

Total = 43 million oz

$5000 SILVER PER OZ!?! SUPPLY SHORTAGE SOON!

WHY THE PRICE OF SILVER SHOULD BE $5000 PER OUNCE AND WHAT WILL CAUSE THE PRICE OF SILVER TO SPIKE UP IN THE NEAR FUTURE


 



MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet

Billionaire Eric Sprott: “[When] The Data Says Hold Your Ground—You Hold Your Ground. Normally There’s A Big Payday At The End.

 By Tekoa Da Silva

Tekoa Da Silva: Eric, you comment often on the Western Central Banks, in terms of their disregard for gold as an asset class of importance, so I’d like to ask—do their actions speak otherwise or have they been letting out all their gold to Asian hands during this East/West physical transfer that we’ve seen over the last year?

Eric Sprott: Well, Tekoa I’ve written a number of articles where basically I ask the question, “Do the Western Central Banks have any gold left?” and I suspect that it is very, very limited these days and when I looked at what happened in the last decade, I can see that there was substantial net new demand for physical gold, over 2000 tons a year. You take it over a decade, and you’ve got 20,000 tons.

My understanding was they might have started the decade with 18,000 tons, but I was really debating whether they would have any left. As we’ve gotten into (particularly) this year and even last year with the Chinese coming into the market buying huge quantities of gold, it has become more and more apparent to me that the annual shortfall is probably even well beyond 2000 tons.

I speculated at the end of 2012 that the central banks probably had no gold left, and I’m not changing that speculation by the way. I think the raid on gold was orchestrated so that perhaps they could drain the ETFs, out of which they did get about 1000 tons, which helped them meet some of the demand exploding in China and many other places by the way.

So I think the central banks have been very active in the gold market. I believe in the GATA viewpoint, that the central banks have always wanted to orchestrate the price of gold. Particularly recently as the printing presses have gone crazy here and I know every one of your  readers would know that zero interest rates and printing money are irresponsible and because every one of your readers knows that, I know the guys doing it know that too.

Bernanke knows it, Abe knows it, and Draghi—they all know it. But they don’t want it to manifest itself, and where would it manifest itself? It would manifest itself in the price of gold going up.

Well, we can’t have that happen because we know our policy is ridiculous and of course it got to even higher levels this year with Japan coming in to buy an extra $65 billion a month. It’s almost surreal the amount of gold they’re buying and what’s even more surreal is to see the price of gold go down at the same time that you see these demand factors exploding. I’m more referring to the Chinese than any other side. One could almost postulate that the Chinese could buy all the gold produced (ex-China and ex-Russia who don’t sell any gold).

So that leaves the other 178 countries to buy none. Well, we know they’re buying. We know central banks are buying. We know mints are buying. So there’s no doubt that there is a serious disconnect between the physical market and the paper market, unless the central banks have somehow been able to still supply that extra gold. I suggest that they’re going to run out and that ultimately these precious metals prices will break loose.

I think most of us will be stunned to see how high they would go, and imagine how high they would go if we all found that the banks had no gold and there are clues to this. I mean the Germans asked for 300 tons back which is no big deal and they’re told it’s going to take seven years. Well, theoretically it was 4% of the US supply in gold. Why can’t you deliver 4%? Why does it take seven years to deliver 4% of the gold? I mean it just begs the question and that’s one of the reasons I think they don’t have the gold. So that’s why they orchestrated the raid.

TD: One thing I always thought was interesting Eric and I’d like to ask your thoughts on it, is that period where Gordon Brown sold Britain’s gold.

ES: Right, Brown’s bottom.

Silver – A Rigged Market Coming To An End

Michael Noonan
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Saturday, December 14th

No one can question the fact that the demand for silver has grown exponentially in the past few years, record sales for American Eagle coins being one small example, record buying in India, another larger example. Demand has never been greater. Supply, on the other hand, keeps diminishing.

Global mining production is at its lowest in the past decade. The annual Consumption/ Production ratio is indicative of acute deficits. Whenever there is a situation where demand rises sharply, while supply commensurately declines, it is a recipe for higher prices, and usually, much higher prices. This is true, unless one is talking about the silver market. Under the conditions of record rising demand and considerably less supply, the price of silver is at its lowest levels in the past three years.

With talk of silver going anywhere from $150 to $500 higher, it currently struggles to hold $20, why is this so?

The answer is not to be found in the myriad supply and demand figures, no matter how cogently presented: as absolute numbers, or dramatically presented graphs, and with so many comparisons to other times/situations. Facts and figures do not lie. Politicians and bankers do.

The reason why silver continues to languish is purely a political one. Silver, along with gold, compete against fiat currencies. All [Western]currencies are issued by central banks. All central banks are owned by the elites, New World Order, [NWO], the moneychangers, call them whatever you will. These elites have a vested interest in preserving the Ponzi monopoly they have enjoyed ever since Mayer Amschel Rothschild discovered the power of interest collected on debt, over 200 years ago.

Debt = Wealth. That is the motto for the elites who charge their central banks with running up as much debt as possible for every man, woman, child. and country. The more debt, the more interest owed to the 1/10th of 1% who own the world's wealth. As an example, what was the answer to resolve Greece's unmanageable debt problems? Have that country borrow even more!

Silver Price Set to Double, According to… Apple?

By: Money_Morning
Peter Krauth writes: We all have our reasons for following Apple. I track it because this tech behemoth is a massive global consumer of metals - base, rare earth, and precious. And right now, Apple is giving us some surprising indications that the demand for silver is much higher than its current price would have us believe. Actually, the first "sign" came to us back in January when Apple had to delay new 27-inch iMac deliveries by up to four weeks. Of course, the company never specified exactly what was causing the delay... but the rumors flew. The most intriguing rumors centered on a possible shortage of industrial silver in China. Regardless, the Apple "indicator" is just one reason silver could double over the next 12 months. There are five other compelling clues that indicate silver's price has temporarily decoupled from what the demand data dictate... - via http://www.marketoracle.co.uk/Article43501.html
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet

Silver Projections for 2014 Time to Buy Silver!

By Joseph Cafariello
Monday, December 16th, 2013

So...

How many gold and silver investors are still hanging in there? Anybody?

Well, chins up, precious metals fans — because 2014 should see a broad range for precious metals prices, from slightly below to well above current levels, with an even broader range expected for silver...

Broad Spectrum of Predictions

Naturally, we're not surprised to hear long-term silver bulls calling for higher silver prices going forward.

“Silver To Hit New Highs Despite Bearish Forecasts,” reads a headline from Silverseek.com.

“One Trigger Event is About to Send Silver to All-Time Highs,” proclaims another from The Market Oracle.

But even large, international commodity research firms see the metals bull run as having plenty of life left. Research and consulting firm CPM Group expects to see silver “continuing a secular bull trend that began at the turn of the century.”

Bank of America’s Merrill Lynch (NYSE: BAC) wealth management division expects silver to reach $26.38 next year, up a tidy 35% from current levels. Analysts explained that an improving global outlook in economic activity would buoy silver, which has numerous industrial uses, and should help it outperform gold in 2014.

Gold premiums soar in India

MUMBAI (MINEWEB)  - 
An Indian wedding without gold is an unheard of thing. With the nation moving into wedding season mode, gold importers are making hay across the country, asking for extremely strong premiums from jewellers, who have been rushing to get hold of the precious metal.
"Imports are down to a trickle. There is absolutely no gold available anywhere in the country. Most jewellers have been making do with recycled gold, but given the wedding season that is upon us, many of us are finding it difficult to keep pace with the soaring demand for gold,'' said Manish Kedia, bullion retailer.
While some retailers said they paid up premiums as high as $120 an ounce last week, on December 6, premiums crossed $180 an ounce higher than London prices.

Is The Silver Market Manipulated?

Over the past few years there have been allegations made that J. P. Morgan (JPM) and HSBC (HBC) are suppressing the price of silver (SLV), (PSLV)). These allegations need to be taken seriously because they come from credible sources including Bart Chilton (according to Bloomberg) -- a commissioner on the Commodity Futures Trading Commission (CFTC). A lengthy investigation into these allegations was recently dropped, but the controversy is still alive and well.
In this article I address these allegations. I will first discuss the notion of market manipulation. I then discuss the U. S. government's silver price manipulation in the late 1960s as a clear cut example of market manipulation so that readers can get an idea of what I mean by the concept. I then provide the arguments that the price of silver is manipulated today, although I demonstrate that while they are very compelling, they are also circumstantial and consequently inconclusive. Finally I discuss how investors should act given the possibility that the silver price is manipulated, even if readers come to the conclusion that it isn't.
Price Manipulation
The term "price manipulation" is complex and loaded. Before I offer my definition let us look at the definition given by the CFTC according to their glossary:
Manipulation: Any planned operation, transaction, or practice that causes or maintains an artificial price. Specific types include corners and squeezes as well as unusually large purchases or sales of a commodity or security in a short period of time in order to distort prices, and putting out false information in order to distort prices.
Essentially the definition boils down to the first sentence, and so we must look at the CFTC's definition of "artificial price":
Artificial Price: A futures price that has been affected by manipulation and is thus higher or lower than it would have been if it reflected the forces of supply and demand.
The obvious circular causality that exists between the two terms leads me to assert that the CFTC's definition of manipulation is completely worthless: they claim that manipulation leads to an artificial price, which is caused by manipulation.
I propose a simple yet forceful alternative below that provides specific conditions by which one can empirically test allegations of manipulation. Manipulation occurs when:
A: A market participant buys and/or sells an asset or a derivative contract related to that asset in order to control its price.
more @ http://seekingalpha.com/article/1838912-is-the-silver-market-manipulated



MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet