by Harvey Organ, Harvey Organ Blog:
SILVER DOWN 56 CENTS TO $14.50/EUROPEAN MARKETS PUMMELED AS WELL AS USA MARKETS/ BASE METALS MASSACRED AS WELL AS PRECIOUS METALS PALLADIUM AND PLATINUM
GOLD: $1178.40 DOWN $15.15 (COMEX TO COMEX CLOSINGS)
Silver: $14.50 DOWN 56 CENTS (COMEX TO COMEX CLOSINGS)
Closing access prices:
Gold $1174.90
silver: $14.43
by Craig Hemke, Sprott Money:
CFTC-generated data for COMEX gold has reached levels normally considered extreme and bullish… but nothing about precious metals trading in the summer of 2018 is “normal”.
Well, another week has passed and even more important milestones have been reached from a Commitment of Traders perspective:
1. The Commercial NET short position has fallen to just 25,609 contracts. This is the smallest level seen since the CoT report dated 12/1/15, just two weeks before the bear market lows of $1050.
by Harvey Organ, Harvey Organ Blog:
ITALY GIVES AN ULTIMATUM TO THE ECB TO LOWER THE SPREADS BETWEEN ITALIAN BONDS AND GERMAN BUNDS: GOOD LUCK TO THEM/BIG STORY OF THE DAY: HUGE CONTAGION FOLLOWING THE HUGE DROP IN THE TURKISH LIRA: THREAT OF CAPITAL CONTROLS WOULD WIPE OUT ALMOST 500 BILLION USA (AND EQUIVALENT) DEBT/EMERGING NATIONS CURRENCIES CLOBBERED TODAY INCLUDING THE SOUTH AFRICAN RAND AND THE ARGENTINIAN PESO/PETER STRZOK FIRED/MORE SWAMP STORIES FOR YOU TONIGHT
by Harvey Organ, Harvey Organ Blog:
ASIAN AND EUROPEAN BLOODBATH DUE TO TURKISH LIRA PROBLEMS AS THE LIRA RISES TO 6.50 AT ONE POINT: THE GLOBE IS EXTREMELY WORRIED ABOUT CONTAGION ESPECIALLY ITALIAN BANKS WHICH HAVE TREMENDOUS EXPOSURE TO THE TURKISH FAILURE/THER RUSSIAN ROUBLE COLLAPSES AS WELL WITH THE RUSSIAN PRIME MINISTER DECLARING THAT TRUMP’S SANCTIONS AND ATTACK ON RUSSIAN BANKS IS AN ACT OF ECONOMIC WAR: LET’S SEE WHAT RUSSIA’S NEXT ACTION WILL BE/MORE SWAMP STORIES FOR YOU TONIGHT: LOTS TO READ TONIGHT AND OVER THE WEEKEND
by Kerry Lutz, Financial Survival Network:
Eric Hadik joined us for a look at current market conditions. When it comes to gold (and silver too) Eric Hadik has had an amazing track over the past several years. He pretty much called the current low point in medal prices. And now he’s calling for higher metal prices during Q4 and early Q1. Of course you could argue that it’s all seasonal and there’s no great insight here, but look at his previous calls and let’s see if he’s right yet again.
Click HERE to Listen
by Harvey Organ, Harvey Organ Blog:
SILVER PRICE WAS UP 3 CENTS TO $15.45/THE BIG STORY TODAY, THE HUGE COLLAPSE IN THE TURKISH LIRA AND THE RUSSIAN ROUBLE /FEDERAL DEFICIT FOR 10 MONTHS HITTING A HIGH OF 680 BILLION DOLLARS AND HEADING TO A FISCAL YEAR DEFICIT OF 800 BILLION DOLLARS/IN FISCAL 2019: HEADING FOR 1 TRILLION DOLLARS/WHOLESALE SALES FALL IN JUNE AND THIS WILL PUT A DAMPER ON TRUMP’S 4.1% GDP GROWTH/EXTREMELY IMPORTANT SWAMP STORIES FOR YOU TONIGHT
by Harvey Organ, Harvey Organ Blog:
SILVER’S OPEN INTEREST CONTINUES TO RISE AND IT IS CLOSE TO ITS RECORD SET IN APRIL; ALL 3 LATEST SILVER OIL RECORDS HAVE BEEN ACCOMPLISHED WITH A LOWER PRICE/CHINA TRIES TO USE MORAL SUASION IN TRYING TO STOP THE FALL IN THE YUAN/TRUMP SIGNS INTO LAW NEW SANCTIONS AGAINST IRAN AND WARNS THAT THE USA WILL NOT TO BUSINESS WITH ANYBODY THAT DISOBEYS THE GLOBAL SANCTIONS AGAINST IRAN/GOLDMAN SACHS COMMENTS THAT A CURRENCY VALUE OF 7.1 TURKISH LIRA TO ONE DOLLAR WILL CAUSE THEIR BANKS TO IMPLODE/MORE SWAMP STORIES FOR YOU TONIGHT
by Ronan Manly, BullionStar:
In March of this year, the London Bullion Market Association (LBMA) released a series of short videos about various aspects of the London precious metals markets and the role the LBMA claims to plays in those markets. In the words of the LBMA:
“LBMA, the Global Authority for Precious Metals, has released five short films highlighting the pivotal role it plays in the global wholesale precious metals market by setting standards and developing market services thus ensuring the highest levels of integrity, transparency and quality.”
While calling these short clips ‘films’ is a bit ludicrous, the series of videos – which are indeed very short – are as follows, and they can be seen on the LBMA website as well as on the LBMA’s YouTube channel:
by Mike Adams, Natural News:
The tech giants just committed a massive strategic error by wholesale banning / memory holing InfoWars / Alex Jones into oblivion. Now, they’ve awakened a huge array of outspoken thinkers who, even if they don’t agree with Alex Jones, are now defending his right to speak.
Right now, in real time, YouTube is reportedly banning videos that speak out against YouTube’s censorship of Alex Jones. Seriously. You’re banned from talking about other people being banned. Thankfully, I saw this coming a year ago and began building REAL.video, the free speech alternative to YouTube. Popularity of the platform is exploding, with hundreds of new channels joining each day.
by Harvey Organ, Harvey Organ Blog:
DESPITE THE SILVER WHACKING, SURPRISINGLY THE SLV INVENTORY ADVANCES BY 1.034 MILLION OZ/ THE GLD INVENTORY DECLINES BY 2.06 TONNES.CHINA ANNOUNCES THAT THE GLOVES ARE OFF IN THE TRADE WAR WITH TRUMP/THE CENTRAL BANK OF ITALY HAD TO ACT AHEAD OF THE ECB TO PURCHASE BONDS ON FRIDAY/USA SET TO IMPLEMENT SANCTIONS TONIGHT AS THE IRANIANS UNDERGO MASSIVE DRILLS /LATE TONIGHT THEY STATED THAT THEY MIGHT ENTERTAIN NEGOTIATIONS/TRUMP MAY OVERRIDE ROSENSTEIN AND DECLASSIFY MOST OF THE FISA DOCUMENTS: THAT SHOULD BE INTERESTING
by Harvey Organ, Harvey Organ Blog:
CHINA CATCHES YUAN SHORTS OFF GUARD WITH CURRENCY SWAPS, TRYING TO CONTAIN THE HUGE FALL IN THE YUAN/TRUMP WARNS MORE TARIFFS AGAINST CHINA/CHINA RELEASES ITS LIST OF TARIFFS TO BE IMPLEMENTED/USA RELEASES ITS JOB REPORT AND IT WAS SUB PAR
