Perfect Storm For Gold & Silver - Silver Surges 6% In Week To $40.28 – GFMS Forecast $50/oz This Year

Tyler Durden's picture

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
tellsometruth's picture

I believe we will hit $50 by the end of June, expect a little pull back to come next week to 37-38 where I will buy mooaarr!

tellsometruth's picture

Will it come to this for Barry Obama/USD? I love the coincidence that the Protaganist in this clip is named Barry too.  (Beerfest Zjay clip)

http://www.youtube.com/watch?v=feKbhuZIeBk

Long-John-Silver's picture

Paper Silver perhaps but the Chinese are in the process of cornering the physical market. The cornering operation by the Chinese has been so successful the US and Canadian Mints have no Silver for coins.

mrgneiss's picture

Not saying this isn't the case, but links would be nice

tarsubil's picture

I remember you saying something about a pull back in silver to about 36 or something. Is that still a possibility?

Turd Ferguson's picture

I'm sorry, tarsubil. I try to keep everybody posted on my ZH-inspired blog.

After about 48 hours of nothing but resilience in silver, I bought back into some May 40s and 41s yesterday.

http://tfmetalsreport.blogspot.com/2011/04/greed-vs-fear.html

 

RockyRacoon's picture

It's back to the drawing board with ye, Long John.

U. S. silver coins are required by law to be made from silver mined in the U. S.

So the foreign silver markets have no direct bearing on that.

This is one of the goals of Dr. Paul's inquiry into the coinage problem.

 

Bullion Demand Overwhelms US Mint
DosZap's picture

Rocky,

They are NOT using Silver from US mines 100%

They are using a foreign contractor for silver blanks.

They are breaking the law.

Questionmark's picture

AFAIK the law only states that they have to use US silver so long as there's still any available.

RockyRacoon's picture

U. S. silver is shipped to manufacturers in Australia to be made into planchets and then back to the U. S. for coining.   I won't comment on the insanity of that, but it is the case.

Pool Shark's picture

 

Hey Rocky!

I'm lovin' those US Mint proof AB Quarters I got a few weeks back. Who'd have thought I'd already be up on the deal? Proof US Mint silver coins worth more in melt value than I paid for them just three weeks ago!

After increasing the price from $32.95/set to $39.95/set, I see the Mint has now pulled the new price!

http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=15252&langId=-1&parent_category_rn=45005

Silver is increasing too fast for the Mint to keep up with it!

btw, you trolls out there: here's $5; dig me some silver out of the ground...   ;-)

 

RockyRacoon's picture

I'm glad you took advantage of the situation.  I loaded up at $32 and again at the last price.   Can't go too wrong with .9 oz of pure silver in 5 proof quarters. 

Heads up:  Take a close look at the 2011 issue of the silver quarters:

2011 United States Mint America the Beautiful Quarters Silver Proof Set™ (SV5)

Price: $41.95
bbq on whitehouse lawn's picture

I have been wondering about this myself. If China were to try for a resurve currency and back it with silver not gold. That would be a game changer. Possably war.

If your going to create a reserve currency you need to make sure you have control of it. Buying up all the silver would do that.

psyclopz's picture

Rubbish report from mainstream papers. In the long haul, the sky is the limit for silver..

Pladizow's picture

Look out below - DXY breaks 52 week low!

overmedicatedundersexed's picture

Pladizow, please hit the enter key more so we all can get the benefit of those tata's

Long-John-Silver's picture

Mr Klapwijk is an idiot.

Mr Klapwijk warned the market could suffer a steep correction if investors were to withdraw their funds because without their buying, the supply of silver would be expected to exceed demand.

Snidley Whipsnae's picture

Klaptrap is obviously unaware that billions of SE Asians, Indians and Mid Easterners are buying PMs. Another example of an Americacentric 'economics advisor'...

EscapeKey's picture

"If people stop buying AAPL, the share price will drop".

That's some mighty fine work, Lou.

aVian's picture

great time for an IRS tax audit

DavidC's picture

Hmmm, while every time a Tomahawk missile gets fired and obliterates kiolgrams of Silver, I'll stay long.

DavidC

EscapeKey's picture

I still haven't seen the actual source for this. Every time I search, I get into a circular list of links, with no actual source backing.

Vendetta's picture

There was an article over on SilverBearCafe that wrote this, again is was without a reference.  However, it is irrelevant to the silver market except war in general is bullish for PMs.  I was a rocket and missile engineer years ago and there is not that much silver in the systems.  Batteries were regular 'ol lead acid type (good quality) and only had to last 5 to 10 minutes (enough juice for some ground testing and enough to last the 'mission'). Transmitters and receivers had gold plated connectors, not much silver and it doesn't take much gold to plate the connectors and contact surfaces (even on circuit boards).  I'd guess there is less than 1 ounce of silver in any of the systems unless the warheads require it which I doubt. 

Debtless's picture

"Morgan Stanley raised its silver price forecast for 2011 by 20 percent to $31.39 an ounce, according to a report e-mailed today."

ROFL

Vagabond's picture

I got a good giggle out of that too

tek77blu's picture

excellent interview with peter grandich on silver, gold, and the mining stocks: http://www.contraryinvestorscafe.com/peter-grandich/

Snidley Whipsnae's picture

'Excellent interview'??? If you want to hear Grandich's life history, his favorite pro sports players, his views on spirtualism, his advice to sell anything that has gone up triple digits, etc.

gordengeko's picture

http://vigilantcitizen.com/vigilantreport/mind-control-theories-and-techniques-used-by-mass-media/

Don't forget, all of the MSM on the planet is owned by 5 companies.  They are all in with the large banks with financial interests in fiat.  It wll be impossible for them to ignore soon and they know it.  Silver is their worst enemy, not gold.  This is a financial battle, their recourse will be to crash the market again unfortunately and insitute a global currency controlled by them again.  Just my opinion

gordengeko's picture

for the junker, all it takes is a little initiative to do some research and you will see for yourself.  Unless you are a troll, which case you know the deal already.  And for those of you who think you are free and that these people don't know everything about you already.  go to http://www.spokeo.com/ and type your name in.  Anyone can pay a few bucks and know more about you than you know about yourself.  Imagine what you could do with a little intelligence and unlimited fiat??  FYI for to the privacy tab at the bottom to remove yourself.  Fuck this, it's time for a change.

overmedicatedundersexed's picture

I will call a top in PM's when we can call a bottom in fiat..no sooner.

Triggernometry's picture

I warned all my family, friends, and colleagues about spokeo when I first heard of it last summer. Some took it seriously, others blew it off. Third party info policies allow aggregated data of individuals to be traded between marketing firms.

I've always had my facebook locked down, so I actually couldn't find myself on spokeo, but I found my father and he's never touched social media. The data on him was undoubtedly collected from various open sources- local tax filings, magazine subscriptions, etc, but its scary to think what will come next.

As for your previous post on mind control; the more innocuous term currently in use is "social influence." You can find a declassified CIA research on the subject at www.blackvault.com the research was done at Stanford by none other than the famous Dr. Zimbardo. If you recall, he devised the inmate/guard experiment which was forever banned because the "guards" immediately began abusing the "prisoners." The paper on resisting social influence is a great read for anybody interested in strengthening the mental defense to being misled/misinformed.

LudwigVon's picture

the privacy tab at the bottom to Verify yourself

Creed's picture

gordon

 

remember the full court press in the media about how pm's were overvalued blah blah blah back in what, January?

Then there was a correction lasting 1-2 weeks.

They'll either jawbone it down again or pull liquidity to rein the markets in, same result.

gordengeko's picture

Remember it very well.  Caused a tremendous buying op in AGQ at 118-130, I was trying to get a few people to buy physical but only 1 did the rest bought AGQ.  They will believe me soon and transfer that wealth (or at least some of it) into physical.  Which is why I believe we won't see 30's again, the average investor doesn't quite understand whats going yet.  Greed will set in and we'll see 50 very soon.

Creed's picture

yep, and addenda

I mentioned on a thread last night that Mr. Walmarts statement concerning serious price inflation due over the next several months may be the awakening that brings the herd to the sparse pm table

(not that there hasn't already been serious inflation over the last few years alreaduy; I suspect that joe 6 pack is about to get slapped in the face with it; I'm even shocked and I expected this;

3 WEEKS after Katrina '05 some items we buy regularly at Walmart went up over 20%)

Snidley Whipsnae's picture

To the moon with PMs. The train is leaving the station...get on or stay home.

ParaZite's picture

50 dollars an ounce for silver.

I have the strangest boner right now. 

Long-John-Silver's picture

I was up last night watching Silver break $40. Strangely, it was like watching exceptionally good porn.

youngman's picture

That shows us just how old you are.....

OldTrooper's picture

Wise, not old, youngling.

Al Gorerhythm's picture

Does it look like a hockey stick?

ak_khanna's picture

The stock, commodity and currency exchanges have been reduced to gambling dens whereby the more powerful traders with deep pockets move the markets to maximize their own profits at the expense of the remaining not so powerful players. The big boys have enormous money power to move the markets in the direction which results in maximum profits for themselves. They effectively use the media to lure the other players in the market to a position where they would incur maximum loss.

The markets will fall only when the banksters have eliminated all the short positions and only they themselves have positioned themselves to profit when the market falls

OR

When an unexpected world event catches the banksters with their pants down and the softwares they use to rig the markets go berserk beyond their control.


http://www.marketoracle.co.uk/Article24581.html

Snidley Whipsnae's picture

PMs are moving up on fiat printing, instability in Mid East, Japanese disasters, extremely heavy buying in SE Asia/India/Mid East, etc. If the 'banksters' could stop PMs in their tracks they would do so. No central bank's currency looks good when PMs are rocketing up.

Long-John-Silver's picture

Very soon no one will exchange PM's for Fiat Bank Paper.

Pladizow's picture

AMEN - and fuck the hired junker trolls!

Vendetta's picture

they forgot to incorporate the black swan PM price control algorithm into the shake and bake software package.

bool controlAgPrice ( short AgControlParam)

{

    if didnotfakeeveryoneout

       call JimCramer

       wait_3days

       OverwhelmAgMarketwithshortbuying

       return true

    else

       continue

     return true

}