On last week’s Silver Doctors SD Metals & Markets I made the case (click here) that silver bottomed on May 10th.  This week, precious metals fund manager Dave Kranzler joined the show to update us on his take on market action and the probability that the so-called “summer doldrums” will go AWOL.  Mr. Kranzler notes:

  • “It smells like desperation”: Is the day of reckoning almost here?
  • Kranzler believes if you don’t have gold, you have a problem…
  • The fund manager reveals his outlook: Don’t expect to find gold and silver bargains in July 

Enjoy the podcast and send me an email if you have feedback.  –  Eric Dubin

Gold and silver have been sold down pretty hard since April 18th. But the structure of the weekly Commitment of Traders report, which shows the long and short positions of the various trader classifications (banks, hedgers, hedge funds, other large investment funds, retail) had been flashing a short term sell signal for the last few weeks.

Fund manager Dave Kranzler joins “Doc” and Eric Dubin to discuss the agressive management of precious metals markets.  This month, Comex silver open interest rocketed past 230,000 contracts as the cartel created new short issuance to match-up against persistent interest among speculators to get long.  The market finally cracked and the cartel has been taking a victory lap and covering their shorts and closing out positions, with Comex OI dipping below 200,000 contracts for the first time in many days.  Kranzler opines on these dynamics and places them into a bigger picture context of very strong worldwide demand.  If you’re in need of a review, click here to catch last week’s show with Craig Hemke for a description on how the shorting operation works.  Tune into this week’s show, below:

 

Are the Gold & Silver Shorts About to Receive A Religious Experience?
Fund Manager Dave Kranzler Joins the Show to Break Down the Largest Decline in COMEX Gold Open Interest We’ve Ever Seen…

“But the most brilliant propagandist technique will yield no success unless one fundamental principle is borne in mind constantly and with unflagging attention. It must confine itself to a few points and repeat them over and over. Here, as so often in this world, persistence is the first and most important requirement for success.”Adolf Hitler

Several “black swans” are looming which could inflict a financial nuclear accident on the U.S. markets and financial system.   I say “black swans” in quotes because a limited audience is aware of these issues – potentially catastrophic problems that are curiously ignored by the mainstream financial media and financial markets.  The most immediate problem is the Treasury debt ceiling…

At some point the paper control of the gold market is going to fall prey to animal spirits. I think the reaction of the metals after the FOMC policy release and when the Dow plunged are evidence that “animal spirits” are percolating in the precious metals market.

From the war on cash to the surveillance state gone wild, what’s coming down the pike ought to scare the crap out people.  Instead, the masses are fearful of exaggerated threats presented by the “Deep State” for mass social control.  

Today, we are seeing continued attacks on mining shares and the entire precious metals sector was taken down in the early New York afternoon trade.  This is a continuation of the near-term trends visible last week that I discussed with Dave Kranzler on Friday’s Silver Doctors SD Metals & Markets.   Precious metals will reverse very soon because the fundamentals are overwhelmingly positive for gold and silver.  What we are witnessing is nothing more than the desperation of the guardians of the fiat paradigm in the face of far stronger physical market trends than widely perceived to exist given the tonnage flow moving into China, under the radar of the World Gold Council and other methodology-blinded sources that form the basis of mainstream media and Wall Street consensus opinion.  – Eric Dubin, Managing Editor, The News Doctors