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No big rush to sell MUX stock. Down 12cents for a $20 stock is not much. That’s a great sign of strength!

i think you’re right, the silver that leaves the exchanges will not return.  what will relieve the shortage is increased production, and that will not be quick.  the silver mining companies have (and will find) large inventories of in ground silver which was not economic to produce at, say, $25/toz.  those mineral deposits will become economic to produce as the price rises.  the mining companies, however will mobilize those deposits over spans of years, not weeks.

i believe production will respond to rising prices and remedy the shortage, slowing the price rise, and perhaps even reversing it (in terms of 2025 dollars).  i am 81 years old.  i am not sure i will live to see it.  my children may.

if this physical shortage is real (as it seems to be), this bull market in silver will not be a flash in the pan.  increased production will curb the rise in price at higher (perhaps MUCH higher) levels, but not soon.  years.   decades??

Open interest in CME silver is rising so the banksters are not covering – they don’t worry about that kind of thing with the implicit guarantee.

That may go out the window at some point very soon however if one of them actually goes down like Bear Stearns … who knows.

Upwards and onwards … chuckle

Probably a good move long term but we know how the market views takeovers.

Cheers

The difference with this squeeze is that it is in the cash market….when a Futures mkt gets squeezed, they can both raise margins and force longs and shorts to settle at an agreed price….A cash market has no margins to raise and buyers take away their metal….and either use it, say in jewelry etc or store it…..so the only way to get stored metal back, is to let the price go so high , the stored metal surfaces…..

As as others have said the metal prices are so low, tks to decades of abuse, no one is gonna part with metal until we see way higher prices….therefore the squeeze will continue.

Just curious; when you say that there was Gold flown into London to play with…….

Where exactly do you think that Gold is coming from????

I thought it was pretty well timed to have some downside momentum just before the London open. Provided some cover for the shorts, because it was up pretty good before they came in.

Gold still holding its own and the shares aren’t in panic mode. Lots of day left.

Yes they came in overnight … that was to be expected with some of that bullion flown into London to play with and Canada back on line today … but one should not expect a lot of metal to go back to London from the US with Trump still running around swinging his tariff stick.

Too expensive to replace if it goes the wrong way.

So far only an A – B – C correction on the hourlies – so it’s not over just yet.

Cheers

I imagine that MUX will get clubbed on that news….

Its had a nice run…….

already down 3% in the pre-market.

https://finance.yahoo.com/news/mcewen-inc-canadian-gold-corp-113000914.html

They can win battles but not the war.

Hope I’m wrong.

Thanks for picking up on that. It seemed awful light for such a crazy market.

Oh yeah, they want their taxes still.

Wall Street Gold
@WSBGold
·
Oct 12
🚨 ABC BULLION UNDER SIEGE 🚨

Lineups stretch around the block at ABC Bullion, buyers rushing in for Gold & Silver like it’s 1979 all over again. 🥇🥈

https://x.com/WSBGold/status/1977459830802784454

yeah, not really hard to peg, we’ve seen it for all these years. They definitely came in with the nukes overnight while we were sailing along just fine.

If the shortages are as bad as they claim, they’ll use this as an opportunity to cover.

It’s very hard to discern truth in the world these days.

The commitment of traders report you posted is about three weeks old…. There’s been no report since the government shut down.. Or should I say so-called shut down.. i’m sure they’re still collecting taxes so they’re still alive…

Yes, we’ve seen this show before!

I’m just not sure how the scum can pull something like today off, when the supposed “shortages” are as severe as they’ve been made out to be???

I would expect the Crimex will really try to jump on the silver weakness and turn it into waterfall action. No doubt gold will follow.

The dollar is up a bit, just breaking above the 200 dma for the first time since April. 10 yr. is down around 4 bips and sitting on 4.1%

Bitcoin is getting smashed down $3500. Oil getting crushed as well, down 2.5% and threatening to break below $58. SM set to open lower.

The only things working right now are bonds and gold. Hope that continues, but I’m not sure gold will be a winner at the end of the day.

PM shares don’t look too bad in premarket – a little surprising. Discrepancy between SLV (down $.29) and spot (down $.78)

I happened to look at the COT report yesterday and it was shockingly bland, especially in silver. I would think with the price levels, open interest would be soaring and there would be all sorts of activity.

Let me know what you think.

CFTC Commitments of Traders Report – CMX (Futures Only)

Almost a $3 swing in silver over just the last hour. Was up a buck, then down $1.50. Now coming back as London shorts start to cover. I guess that’s what’s happening anyway.

Gold was down $20+, now up $12. Silver only down $.24. Holding $52 for the moment.

Buckle up. Bonds are the only thing standing at the moment.

In the last little while they SMASHED silver down from about 53.60 to about 51.60.
Gold from about 4180 to 4115.
Hopefully they used everything they had including the ‘kitchen sink’, and they are out of ammo.
Wonder what happens when London opens in an hour or so.

Bonds trading now after yesterday’s Columbus Day holiday.

So far, they still want gold, silver and a few bonds to weather any storm.

$53 silver is down, the assault on $4200 gold begins.

Monday, midnight to midnight, was your USD144 rise. A bit gross really. And silver a $3.50 rise. I can remember  when it was half that price … half the price of the daily increase. Hard money for hard times ahead.

I’m reading tonight that on the London exchange there is between 5.26 And 7,890,000,000 ounces short of silver….. which means on a day like today unless they covered their positions the short date underwater between 12 and $15 billion… That’s just for today…. I’m just trying to speculate what kind of a life boat they have squirreled away for this occasion…

if indeed, the pin has been pulled on Exeter’s pyramid, it’s gonna be a long bumpy ride, at least for those at the top of the pyramid…

Passed it to my friend. She said they have some kinda radar there now where it can detect the location of a gum shot..So she’s going to check out target practice with a sling shot for her back yard otherwise the shooting range.