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Kiss June Rate Hike Fantasy Goodbye; Kranzler Sizes-up Strong Move In Gold & Silver
SD WEEKLY METALS & MARKETS
With gold & silver SCREAMING higher on the worst jobs report in half a decade, pm fund manager Dave Kranzler joined the show, discussing:
- Is the correction over? Bullion buyers “shellshocked” as gold & silver prices jump higher
- Kranzler: “There was never any intent to raise rates,” it was all about targeting gold!
- Unprecedented development in gold: Record amount of gold standing for June COMEX delivery
- Friday was a shift in sentiment: “I think we’re going to go alot higher”
- One of the most heavily shorted mining stock in the world jumps over 15% – hedgies & algos jump back on the train
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DOC’S GOLD & SILVER MARKET UPDATE:
The US Mint sold just shy of another million 2016 American Silver Eagle coins again this week, bringing the Mint’s May sales totals 3 monster boxes shy of 4.5 million coins, and YTD sales to a whopping 23,484,000 Silver Eagles.
The Royal Canadian Mint set an an all-time record for Silver Maples during the 1st quarter of 10.6 million oz of Silver Maples!
RCM is also is set to release 1 oz Silver Superman Shield bullion coins this Thursday, which should only add fuel to continued strong Silver Maple demand.
Signs of Industrial Silver Shortage? First Majestic CEO Keith Neumeyer shocked Bloomberg (and the rest of us) by revealing that a major Japanese electronics company is attempting to lock up future silver supply directly from First Majestic, citing silver supply concerns.
We’ll keep an eye on this situation as it develops as Ted Butler has long warned that industrial users will one day frantically horde physical silver in a panic over supply concerns, shattering the banksters’ grip on the white metal.
Source: http://thenewsdoctors.com/kiss-june-rate-hike-fantasy-goodbye-kranzler-sizes-up-strong-move-in-gold-silver/
