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Published On: Tue, Jul 26th, 2016

Silver Refuses To Buckle – Eric Dubin

When we were laboring through the 2011-2015 bear market cycle, constant snap backs the likes of which silver is producing were never to be seen.

TND Market Brief:  Eric Dubin
Last Thursday, I published, “Silver, Gold, Miners: Everyone, Back In The Pool.”  Mining shares witnessed a bit more pain than I had expected, but silver bottomed off the ~$19.20 level, as discussed. Even with Comex options expiration and central bank meetings this week, speculators taking on the bullion banks are buying every cartel smack-down, yesterday offering the latest example:

 

silver-outside reversal
When we were laboring through the 2011-2015 bear market cycle, constant snap backs the likes of which silver is producing were never to be seen.
Today, the Japanese yen is appreciating relative to the US dollar as speculators – largely, algorithm-based trading – react to a Nikkei news report that fiscal stimulus plans will be smaller than expected.  The dollar fell as much as 1.4% in the early market session.  This is an ironic case where the short-term impact of the yen carry trade flow and long-term yen debasement from continued fiscal and monetary stimulus are both positive catalysts for precious metals.

Taro Aso, Japan’s finance minister, talked down the report, saying that the government had not yet decided on the size of the package.  But the report was enough to send the FX algos into a frenzy, which spilled over into other markets.   Japanese policy makers flip-flop, ‘jawbone’ and massage the media just like the Federal Reserve.  The BOJ might announce smaller stimulus measures than expected, but Japan’s fate is sealed, and the helicopters are on the tarmac.

Silver-Rounds-SD-Bullion-300x250

 

Mr. Dubin is the Managing Editor of TheNewsDoctors.com. He has 25 years of experience as an independent buyside securities and global macro analyst. He has well over a decade of experience as a financial journalist, editor and political analyst. He’s primarily an autodidact, but his formal education includes degrees in economics, international relations and MBA. He welcomes feedback on his articles and will make an effort to respond to comments. Email Eric by sending to “Eric” and then @TheNewsDoctors.com. He can also be “followed” on Facebook: https://www.facebook.com/EricDubin

 

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About the Author

- Mr. Dubin is the Managing Editor of TheNewsDoctors.com. He has 25 years of experience as an independent buyside securities and global macro analyst. He has well over a decade of experience as a financial journalist, editor and political analyst. He's primarily an autodidact, but his formal education includes degrees in economics, international relations and MBA. He welcomes feedback on his articles and will make an effort to respond to comments. Email Eric by sending to "Eric" and then @TheNewsDoctors.com. He can also be "followed" on Facebook: https://www.facebook.com/EricDubin

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