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Gold and Silver’s internal stats are showing major strength
US Dollar is getting support from Euroland again with the trade up 1.6 points at 82.915 after dipping down to 82.645 at midnight PST. Treasuries are still split with the short term trading higher with the longer term trading into the negative. Energy Sector is mixed with Crude Oil down 19 cents and trading at $96.88 with Gas lower as well but Heating Oil and Natural Gas is moving higher. Gold is down $3.20 at $1,597.70 a few dimes off its low, Silver is down as well with the trade at $27.940 with a low of $27.875. Grains have finally turned and are trading positive since the USDA’s numbers where sent out, Softs are mixed with Coffee/OJ trading lower, Cotton/Cocoa/Sugar are moving higher. Live Stock Sector is mix with Feeders trading lower, Live Cattle and Lean Hogs trading higher. Paper Markets are up strong in very light trading but only when the USA markets are closed will it move like this. Jim Sinclair spoke to Eric King about the fear the bankers have since the Cypress event and most are now aware of the events and are waiting for the second shoe to drop. There are a lot of senior politico’s under stress as well as people are becoming more and more aware that their retirement money is at risk because banks can no longer be trusted as a safe haven. It’s now blatantly obvious that the rules have been placed (ever so slowly) to protect the banker instead of the client and this alone could be the hitch in the giddy up the precious metals market needs to blow thru the bankers suppression. 503,400 ounces of Gold where staged for delivery last week (http://www.cmegroup.com/delivery_reports/MetalsIssuesAndStopsReport.pdf)
With 2.9 million ounces available for sale, Someone or thing took out almost 20% of the Gold out of the COMEX warehouses and yet, the markets haven’t moved in accordance to reality. We’re here to tell you that all these shenanigans are not good for financial institutions and one day soon, things will change for those that hold and trade the precious metals based on solid information. Hedge Funds are the ones that are taking the short contracts the central bankers are exiting and the Open Interest in Silver is now at 155,669 positions held overnight. Which means the buyers are still taking on the added shorts and is about to break and open interest record in Silver. These are the stats that are needed to prove the events of the past few weeks are having tremendous pressure on the central banks strong fiat policy is coming to an end. Point is, this is the breaking point and all we need to do really is stay strong in our convictions and not budge. We here at the Fort want you to know, we’re on the traders side and wish everyone could benefit from the knowledge we offer. Play with Long Call Options with no spreads and one could truly see the benefits this kind of pressure can bring to an account. As always, …. Stay Strong!!!
JB Slear
Fort Wealth Trading Co LLC.
866-443-0868 Ext 104
817-717-5489
Fax: 817-764-2537
www.FortWealth.com
Don’t risk what you cannot afford to lose….
2013-04-02 05:06:43
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