Will the reversal in Gold and Silver be confirmed next week? There are reports about the Silver coins shortages in U.S. and Gold GOFO rates went negative last week as well. Let's dig out into the COMEX situation. Ted Butler explains that at the beginning of November Commercials were holding the record short positions. Within few months 40% of the world-wide production was sold short. Silver companies cannot produce at these levels and even are talking about the withholding their sales at this price levels. Record levels in Solar installations means that more and more Silver will be needed for the production of Solar cells, which China has made the commodity business now as well. We have the perfect storm situation in the market between the real physical demand supply picture and paper market, which is manipulated. Nobody knows the future, but next week can be crucial as the real short covering can begin.
The story about Swiss Gold Referendum has made its way up to the Bloomberg. Now everything depends on the people of Switzerland, but at least we will have the opportunity for the proper discussion about the FIAT Currency systems and Gold. China is not only buying record amounts of gold now, but taking out the best long term mining assets all over the globe. Read more."
TNR Gold Los Azules Copper M&A: Barrick In Talks With Chinese Miner Zijin On Pascua-Lama Investment.
Charles Nenner has quite a few very impressive calls on different markets. His today calls sound totally contrarian for the mainstream investors. US Dollar is rising to the sky, markets are hitting all-time-highs. Lets put him on the record here today. In this interview he confirms his call for Gold cycle to bottom now and his upside target of $2,100. Chinese seems to be following his ideas ...