Silver Set To Advance A Remarkable 800% From Current Levels

With continued uncertainty in the gold and silver markets, today a 58-year market veteran told King World News that silver will advance roughly 800% and gold is set to soar over $3,000 from current levels.  Ron Rosen, who has been at this business for almost six decades, also spoke about the mining shares..

Eric King:  “Ron, you’ve been doing this for 58 years, where are we right now as you see it in the gold and silver bull markets?”

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Rosen:  “We are on the verge of the biggest move in the history of the precious metals market, and it’s not far away from beginning.  It’s going to be a monster move….

“What I don’t understand is why everybody doesn’t see it.  There are so many analysts out there and if they just knew how to look at a monthly chart, and put it in a logarithmic form, they would see that gold and silver are going to explode.

This explosion higher in the price of gold and silver will just be Mother Nature at work, and there is nothing on the face of this Earth that can stop it — no individual, no central bank, no country, and no collection of countries.”

Eric King:  “You went through the bull market of the 1970s.  How do you think this market will compare to that one?”

Rosen: “It will outperform it to such an extent that it will almost be beyond belief.  We are looking at a massive move in front of us that will top sometime in 2014.  At that point there will be a correction.  Then, a massive blowoff will take us probably into early 2016.  People who have been tortured by this long corrective phase, they will be thrilled if they have the ability to hang on.  They just need patience here.

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/15_Silver_Set_To_Advance_A_Remarkable_800_From_Current_Levels.html

European Gold Buying “Remarkable”

Here’s National Numismatics’ Tom Cloud with a quick dealer-level view of gold and silver:

DollarCollapse: Hey Tom, it’s been an eventful few weeks. Precious metals pierced your worse-case downside targets and then bounced a bit. What’s going on out there?

Tom Cloud: Once gold broke the $1,320 it didn’t stop till $1,180, which I did not think it would do. It went all the way down to our long-term support line. Looking forward, July is usually a neutral month and August is when things pick up. Gold and silver usually make about 2/3 of their profits during the last four months of the year, but this time gold should start moving in July because the correction was so severe. The worst-case scenario is that it bounces off of $1,180 again, but it looks very oversold at these levels; the charts have turned extremely bullish.

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DC: How tight are supplies?

TC: For gold, there’s pretty good availability right now. We’ve got some gold coins that can lock in and ship today.

DC: Silver premiums remain high though. What’s different about that market?

TC: When silver goes down the costs of buying and producing it make the premium go up in percentage terms. They usually change the premiums every two or three months. So the high premiums can be explained in part by the continued shortage of popular coins and in part by unchanging production costs.

DC: So silver supplies remain tight?

TC: May broke all records for silver eagle sales, and you’re still looking at 2-4 week delays for eagles, maple leafs and even buffaloes. Comex silver bars are really hard to get. Johnson Matthey is six weeks behind. In normal times, it would take 3-5 days for delivery. The Royal Canadian Mint is keeping up, though, so we can get those bars.

DC: What about the recent central bank gold buying?

TC: The bounce was facilitated by a 580-ton purchase by European central banks on Friday. The rumor is that they’re going to buy another 500 next week. There’s only 2200 tons a year mined on average, so that would be remarkable.

Source: http://www.financialsense.com/contributors/john-rubino/european-central-bank-gold-buying-remarkable

The Savage Gold War Behind The Scenes

With global stocks, the US dollar, and gold all surging, today one of the savviest and well connected hedge fund managers in the world sent King World News the most amazing chart concerning what is happening in the gold market.  Outspoken Hong Kong hedge fund manager William Kaye also spoke with KWN about what is really going on behind the scenes in the gold war.  Kaye, who 25 years ago worked for Goldman Sachs in mergers and acquisitions, had this to say in part II of his remarkable interview.

Kaye:  “As you and I are talking now, we’re a little bit below $1,250 on gold which is ridiculously low.  On the numbers we are looking at that would mean that roughly half of the production of the mining community of the world is unprofitable, which is stunning when you think about it.

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What is going on is unprecedented….

“It’s unsustainable, and like anything that is unsustainable it won’t be sustained.  So this is a great opportunity for people who do have an interest in possibly adding to or initiating new positions in gold or precious metals.  We are at levels that I think are extremely attractive, Eric.”

Eric King:  “Bill, what about this chart that you sent me going over the various entities out there that hold gold for retail and institutional investors?  Can you talk about that?”

Kaye:  “Yes, I’m happy to.  Pick up the Wall Street Journal, the Financial Times, watch CNBC if you want to have your brain damaged, you’ll get the same narrative (regarding gold).

And it’s a scary narrative, which is that people are panicked — there is a bear market in gold.  And they (the mainstream media) never make a distinction between the paper market in gold and the physical bullion market.  That is a very important distinction for your listeners (and readers) to make.

But the narrative is that people are panicked, and because they are panicked they are selling into the market to whoever will buy.  And this is why the gold inventories, the Spyder Gold Trust and the other major exchange traded funds (gold holdings) have been so rapidly reduced.

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/9_William_Kaye_-_The_Savage_Gold_War_Behind_The_Scenes.html