Silver price manipulation on the COMEX

"Every day, silver (and gold) investors are subject to whatever daily pricing the big COMEX paper hangers decide to dictate, irrespective of what the real supply/demand fundamentals would suggest." Theodore (Ted) Butler from the article, The Good, Bad and Ugly

Ted Butler provides the perspective that, "As debilitating and painful as the ongoing silver price manipulation has been, if the manipulation didn't exist, neither would the prime reason for buying silver."

He continues, "Therefore, I can't rule out further silver price stabs to the downside before a dramatic and final resolution to the upside because both stem from the same cause- the manipulation."

Does supply and demand dynamics of gold exist?

We have seen a steady increase in demand for physical gold, yet we have seen  lower prices in the past few months.

Where is the demand coming from?
- India and China are strong buyers
- Central banks are currently net buyers from being sellers
- ETPs around the world, institutions and private investors continue to add to their gold hoards

Supply?
-Annual supply of gold has stayed flat at approximately 4,000 tonnes and comes from new mine production, scrap gold recycling and investor disposition of bullion.

In a recent article by Eric Sprott, the evidence pointing towards the suppression of the gold price is provided. Please see SPROTT ASSET MANAGEMENT

Silver update 20.Feb.2013

Silver has just broke out of the channel (bottom rising trend line) to the downside. Currently 29.08. It needs to quickly recover from here and get above 29.50. If that fails, then 28.00 should provide strong support and I'd be buying some more to add to my core holdings.

Is the bottom in for silver!? 20.02.2013

This is just my personal opinion and not trading advice. Please do your own analysis and research before making the decision to buy silver and trade at your own risk. Thank you!

Latest Technical analysis chart_15Feb2013

Silver - The Element of Change 4FEB2013 [SilverInstituteTV]

One of the most informative videos about silver that I've come across to date. Highly recommended video by, SilverInstituteTV.
Silver is a popular store of value for centuries!! Got silver?

Silver-Real Shortage Out There- Tom Cloud (Cloudhardassets.com)

Tom Fitzpatrick's (Citi analyst) latest commentary on silver on kingworldnews.com

"Good resistance is met at $34.40-35.40 (on silver) and then most importantly at $37.48. A weekly close above that latter level would signal gains back to the April 2011 highs near $50 (a 56% surge from current levels)." Tom Fitzpatrick

Please see FULL ARTICLE

Strong gains for silver. Is a breakout to the upside imminent?

Silver To Rise Over 500% In Next 3 Years - BBC

Mainstream media talks about silver!

Billionaire Eric Sprott, from Sprott Asset Management

Eric Sprott - "Silver Remains The Best Investment Of The Decade"
 

Silver (XAG:USD) showing positive price action 02.Jan.2012

The next move in Silver may be stunning! [Dec 28 2012]

From KingWorldNews:

The silver chart above shows the important moves and consolidations since the advance began in 2003.  Note that the last consolidation lasted 91 weeks.  After silver was then able to break out above the $21 resistance area, it subsequently advanced roughly 150%.  If silver were to replicate a move of that magnitude, after breaking the recent high of nearly $50, it would put the next target for silver at a staggering $125.  

*charts put together by Kevin Wides

ORIGINAL FULL ARTICLE HERE

Silver Vaults Stuffed Means Price Rising 30% in ’13: Commodities [Bloomberg.com]

Silver Bullion Pte, one of Singapore’s largest suppliers of coins and bars to retail investors, says sales tripled since October, part of a global surge in demand that drove holdings to a record.

“Our clients are worried that a major currency crisis or mass bankruptcies would occur,” said Gregor Gregersen, the 36- year-old founder of Silver Bullion, whose sales now average about S$6 million ($4.9 million) a month. “It all has to do with falling confidence in the heavily indebted Western governments and financial institutions.”
Global investment through silver-backed exchange-traded products reached a record 18,854 metric tons in November, or more than nine months of mine output, data compiled by Bloomberg show. Holdings are now valued at about $19.2 billion. Prices will rise as much as 34 percent to $40.25 an ounce next year, based on the median of 49 analyst, trader and investor estimates compiled by Bloomberg.
Silver almost tripled since the end of 2008, lagging behind only platinum in gains for precious metals this year as policy makers from the U.S. to China to Europe pledged more action to boost economies. That’s attracting investors betting that stimulus will stoke inflation and debase currencies. It’s also luring those wagering growth will strengthen industrial demand for silver, 53 percent of which is used in everything from televisions to batteries.

Read more HERE

James Turk's Outlook for Gold for 2013 to 2015

Silver update: 20th Dec 2012. By Trader Richard

30.00 seems to be the next support level and my personal opinion is that going back down to the 26.00 level is highly unlikely because silver seems to be respecting the bottom rising trend line so far. I think a break out to the upside out of this flag formation is imminent and more likely scenario. Kudos to those long term investors that were able to sustain this long sideways consolidation, which was probably designed to shakeout weak holders. Hoping it won't be much longer before you guys will be rewarded handsomely for your patience, because once this resolves to the upside, the move may be explosive. 

This is not trading or investment advice and is for sharing my opinion only so please do your own research and analysis. Your investment and trading decisions is at your own risk. Thank you!

Trader Richard

Legendary Eric Sprott appears on Bloomberg TV

$50.00/ounce silver by mid Jan 2013?

Just visualising. What are your thoughts about this silver price projection?

China Silver Demand to Advance to Record on Wealth Protection [By Bloomberg News - Oct 25, 2012 10:50 AM GMT+0800]

Silver demand in China, the world’s second-largest user, is set to jump as much as 10 percent next year to a record as investors look to preserve wealth, according to Beijing Antaike Information Development Co.
Consumption may climb to 7,700 metric tons after gaining 6 percent to 8 percent in 2012, Shi Heqing, an analyst at Beijing Antaike, said in an interview on Oct. 22. About 33 percent of the country’s demand comes from jewelry and coins, with the rest from industrial use in photography, solar and electrical appliances, according to Antaike, which has studied metals for two decades.
Chinese investors are buying more silver as the second- largest economy slowed for a seventh quarter, the Shanghai Composite Index is heading for a third straight annual drop and property curbs are limiting prices. Silver climbed 14 percent this year and holdings by exchange traded funds gained 6.5 percent this year after touching 592 million ounces last week.
“Chinese investors want hard assets such as silver, especially when it’s cheaper than gold and requires less funding,” Shi said. “Many producers and investors have hoarded the precious metal in the form of ingots or unwrought silver.”
Silver rose 53 percent in the Federal Reserve’s first round of quantitative easing, or QE, from December 2008 through March 2010, twice as much as gold, and 24 percent during the second phase ending in June 2011, three times as much. The U.S. central banks announced a third round of QE on Sept. 13. Silver will probably beat gold in the next several quarters, Morgan Stanley (MS) predicts.

To read FULL ARTICLE

David Morgan radio interview [Published on Oct 17, 2012 by silver investor.com]