Archive for the ‘Short Sellers’ Category

CRUNCH TIME

Posted by on May 31st 2017 in JPMorgan, Monetary Policy, Short Sellers, Silver, Ted Butler | Be the first to comment!

By James Cook

Our great silver analyst, Theodore Butler, is breaking ground again with his analysis of the two opposing forces in the silver and gold futures markets. Only a few months ago, the big banks led by JPMorgan were out $4 billion in these markets. Now, they’ve engineered a price drop that erased the loss and generated a $3 billion profit. That’s a $7 billion dollar swing.

 

According to Mr. Butler, JPMorgan and the big banks who were short enormous quantities of gold and silver managed to manipulate the market lower causing the computer-driven hedge funds (managed-money traders) to sell. What they sold, the big banks bought which lowered the bank’s short positions and closed out their contracts at a profit. That normally clears the way for another price cycle where the big banks once again snooker the hedge funds.

 

However, this time things look different. Normally when the price penetrates the moving averages to the downside, the hedge funds not only sell out of their long position to the big banks, they keep selling until they have established a new short position. They go from long to short. This time they don’t appear to be doing that. In the past, this has always been a money-losing trade for them, so they have apparently wised up and discontinued it. No new shorting means we should be going up much sooner.

 

As we go up, we cross the moving averages to the upside and the hedge funds automatically start buying again. To buy, they must have entities who will sell to them. This has always been the big banks who do so by going short. In some of the most brilliant analysis of his career, Mr. Butler lays out reasons why he doesn’t think the big banks will go short again at these low levels. He suggests that because they were out $4 billion earlier this year, they will be far more cautious. Further, he points out that the hedge funds have far more money these days because investors are looking for returns they can’t get elsewhere. This gives the hedge funds more buying power and the possibility they can overrun the shorts. So, the big banks will proceed with caution from here on out. That’s exceedingly bullish.

 

Mr. Butler points out the biggest buyer, JPMorgan has reduced its short position to its lowest in a year and their enormous holding of physical silver now amounts to 550 million ounces. The biggest impediment to a price rise in silver has been removed. “This is nirvana,” says Ted. “We are much closer to the bottom than we are to the ultimate top, so it’s the perfect time to buy.” He told me to pound on the table to get people to buy.

A Wild Week

Posted by on May 30th 2017 in CFTC, JPMorgan, Short Sellers, Silver, Ted Butler | Be the first to comment!

by Theodore Butler

Despite what you may have read, the big banks did not sell gold and silver to depress the price on the big drop recently. The data will show, just as they have always shown that the managed-money traders (computer-driven hedge funds) were the big sellers and the commercials (big banks) were the big buyers. In that fashion, JPMorgan and the big banks successfully closed out a large portion of their profitable short positions. The commercials rig prices lower through the magic of spoofing and other computer scams, but they do so only to generate managed-money selling, so that the commercials can then buy. And this week, the managed-money traders sold COMEX gold and silver in droves, while the commercials bought every contract sold. That’s the game. With record trading volume, this past week was among the best financially for the commercials and worst ever for the managed-money traders in gold and silver. Including the extraordinary price turnaround on Tuesday evening into Wednesday, I’d estimate that JPMorgan and the other commercials made more than $3 billion in gold and silver this week and the managed-money traders lost the same amount.

That’s a far cry from the near $4 billion the commercials were in the hole for during the summer price highs. This is the money game that drives gold and silver prices. The good news is that the market structure is nowhere near as bearish. We have taken a large step towards getting most of the downside price damage behind us. The commercials whacked huge chunks off the price and there seemed to be an urgency in getting the job done.

When the selloff is done, it is likely to be the final selloff in silver. JPMorgan is in the best position for a silver blastoff than it has ever been, particularly after this week, with its largest physical position ever and a sharply reduced paper short position (the whole point of the selloff). It is impossible that the commercials aren’t tuned into the managed-money traders’ behavior, especially considering how few in number are the large commercials. Earlier this year, the commercials were in the hole $4 billion in gold and silver, only to have made that back and $3 billion more over the decline. These are stakes guaranteed to get attention.

The reason for the $4 billion loss was that the commercials miscalculated in allowing themselves to sell short to the managed-money longs at too low gold and silver prices earlier in the year. The reason the commercials miscalculated is that they misjudged the extent to which managed-money traders have attracted investor money. It was large investor inflows that created the much larger positions the managed-money traders put on this year.

Better than anyone else, the commercials and in particular JPMorgan now fully appreciate the tremendous buying and selling power that the managed-money traders possess. Armed with this knowledge, the commercials will never sell as aggressively at low prices when the prospects are for much more managed-money buying to come. It will be to the commercials’ advantage to lay back and hold off when the managed-money traders begin to buy, rather than rush to sell too soon as was the case earlier this year. This would result in much sharper price moves for silver than we’ve witnessed to date.

The right time to buy silver is after it has fallen sharply in price. That’s true with many investments, but buying silver at the right price can make you more money than just about anything else. The good news is that silver has fallen sharply from its summer price highs; making it a better buy now than it has been in many months.

GET STARTED WITH OUR $99 FIVE-PIECE SILVER SAMPLER

 Click on coins to view offer.

A Wild Week

Posted by on May 24th 2017 in Federal Reserve, JPMorgan, Monetary Policy, Short Sellers, Silver | Be the first to comment!

by Theodore Butler

Despite what you may have read, the big banks did not sell gold and silver to depress the price on the big drop recently. The data will show, just as they have always shown that the managed-money traders (computer-driven hedge funds) were the big sellers and the commercials (big banks) were the big buyers. In that fashion, JPMorgan and the big banks successfully closed out a large portion of their profitable short positions. The commercials rig prices lower through the magic of spoofing and other computer scams, but they do so only to generate managed-money selling, so that the commercials can then buy. And this week, the managed-money traders sold COMEX gold and silver in droves, while the commercials bought every contract sold. That’s the game. With record trading volume, this past week was among the best financially for the commercials and worst ever for the managed-money traders in gold and silver. Including the extraordinary price turnaround on Tuesday evening into Wednesday, I’d estimate that JPMorgan and the other commercials made more than $3 billion in gold and silver this week and the managed-money traders lost the same amount.

That’s a far cry from the near $4 billion the commercials were in the hole for during the summer price highs. This is the money game that drives gold and silver prices. The good news is that the market structure is nowhere near as bearish. We have taken a large step towards getting most of the downside price damage behind us. The commercials whacked huge chunks off the price and there seemed to be an urgency in getting the job done.

When the selloff is done, it is likely to be the final selloff in silver. JPMorgan is in the best position for a silver blastoff than it has ever been, particularly after this week, with its largest physical position ever and a sharply reduced paper short position (the whole point of the selloff). It is impossible that the commercials aren’t tuned into the managed-money traders’ behavior, especially considering how few in number are the large commercials. Earlier this year, the commercials were in the hole $4 billion in gold and silver, only to have made that back and $3 billion more over the decline. These are stakes guaranteed to get attention.

The reason for the $4 billion loss was that the commercials miscalculated in allowing themselves to sell short to the managed-money longs at too low gold and silver prices earlier in the year. The reason the commercials miscalculated is that they misjudged the extent to which managed-money traders have attracted investor money. It was large investor inflows that created the much larger positions the managed-money traders put on this year.

Better than anyone else, the commercials and in particular JPMorgan now fully appreciate the tremendous buying and selling power that the managed-money traders possess. Armed with this knowledge, the commercials will never sell as aggressively at low prices when the prospects are for much more managed-money buying to come. It will be to the commercials’ advantage to lay back and hold off when the managed-money traders begin to buy, rather than rush to sell too soon as was the case earlier this year. This would result in much sharper price moves for silver than we’ve witnessed to date.

The right time to buy silver is after it has fallen sharply in price. That’s true with many investments, but buying silver at the right price can make you more money than just about anything else. The good news is that silver has fallen sharply from its summer price highs; making it a better buy now than it has been in many months.

GET STARTED WITH OUR $99 FIVE-PIECE SILVER SAMPLER

 Click on coins to view offer.

A Wild Week

Posted by on May 24th 2017 in Federal Reserve, General Economy, JPMorgan, Monetary Policy, Short Sellers, Silver, Ted Butler, Uncategorized | Be the first to comment!

 

by Theodore Butler

Despite what you may have read, the big banks did not sell gold and silver to depress the price on the big drop recently. The data will show, just as they have always shown that the managed-money traders (computer-driven hedge funds) were the big sellers and the commercials (big banks) were the big buyers. In that fashion, JPMorgan and the big banks successfully closed out a large portion of their profitable short positions. The commercials rig prices lower through the magic of spoofing and other computer scams, but they do so only to generate managed-money selling, so that the commercials can then buy. And this week, the managed-money traders sold COMEX gold and silver in droves, while the commercials bought every contract sold. That’s the game. With record trading volume, this past week was among the best financially for the commercials and worst ever for the managed-money traders in gold and silver. Including the extraordinary price turnaround on Tuesday evening into Wednesday, I’d estimate that JPMorgan and the other commercials made more than $3 billion in gold and silver this week and the managed-money traders lost the same amount.

That’s a far cry from the near $4 billion the commercials were in the hole for during the summer price highs. This is the money game that drives gold and silver prices. The good news is that the market structure is nowhere near as bearish. We have taken a large step towards getting most of the downside price damage behind us. The commercials whacked huge chunks off the price and there seemed to be an urgency in getting the job done.

When the selloff is done, it is likely to be the final selloff in silver. JPMorgan is in the best position for a silver blastoff than it has ever been, particularly after this week, with its largest physical position ever and a sharply reduced paper short position (the whole point of the selloff). It is impossible that the commercials aren’t tuned into the managed-money traders’ behavior, especially considering how few in number are the large commercials. Earlier this year, the commercials were in the hole $4 billion in gold and silver, only to have made that back and $3 billion more over the decline. These are stakes guaranteed to get attention.

The reason for the $4 billion loss was that the commercials miscalculated in allowing themselves to sell short to the managed-money longs at too low gold and silver prices earlier in the year. The reason the commercials miscalculated is that they misjudged the extent to which managed-money traders have attracted investor money. It was large investor inflows that created the much larger positions the managed-money traders put on this year.

Better than anyone else, the commercials and in particular JPMorgan now fully appreciate the tremendous buying and selling power that the managed-money traders possess. Armed with this knowledge, the commercials will never sell as aggressively at low prices when the prospects are for much more managed-money buying to come. It will be to the commercials’ advantage to lay back and hold off when the managed-money traders begin to buy, rather than rush to sell too soon as was the case earlier this year. This would result in much sharper price moves for silver than we’ve witnessed to date.

The right time to buy silver is after it has fallen sharply in price. That’s true with many investments, but buying silver at the right price can make you more money than just about anything else. The good news is that silver has fallen sharply from its summer price highs; making it a better buy now than it has been in many months.

GET STARTED WITH OUR $99 FIVE-PIECE SILVER SAMPLER

 Click on coins to view offer.

A Wild Week

Posted by on May 15th 2017 in General Economy, Gold, JPMorgan, Monetary Policy, Short Sellers, Ted Butler | Be the first to comment!

A WILD WEEK

By Theodore Butler

Despite what you may have read, the big banks did not sell gold and silver to depress the price on the big drop recently. The data will show, just as they have always shown that the managed-money traders (computer-driven hedge funds) were the big sellers and the commercials (big banks) were the big buyers. In that fashion, JPMorgan and the big banks successfully closed out a large portion of their profitable short positions. The commercials rig prices lower through the magic of spoofing and other computer scams, but they do so only to generate managed-money selling, so that the commercials can then buy. And this week, the managed-money traders sold COMEX gold and silver in droves, while the commercials bought every contract sold. That’s the game. With record trading volume, this past week was among the best financially for the commercials and worst ever for the managed-money traders in gold and silver. Including the extraordinary price turnaround on Tuesday evening into Wednesday, I’d estimate that JPMorgan and the other commercials made more than $3 billion in gold and silver this week and the managed-money traders lost the same amount.

 

That’s a far cry from the near $4 billion the commercials were in the hole for during the summer price highs. This is the money game that drives gold and silver prices. The good news is that the market structure is nowhere near as bearish. We have taken a large step towards getting most of the downside price damage behind us. The commercials whacked huge chunks off the price and there seemed to be an urgency in getting the job done.

 

When the selloff is done, it is likely to be the final selloff in silver. JPMorgan is in the best position for a silver blastoff than it has ever been, particularly after this week, with its largest physical position ever and a sharply reduced paper short position (the whole point of the selloff). It is impossible that the commercials aren’t tuned into the managed-money traders’ behavior, especially considering how few in number are the large commercials. Earlier this year, the commercials were in the hole $4 billion in gold and silver, only to have made that back and $3 billion more over the decline. These are stakes guaranteed to get attention.

 

The reason for the $4 billion loss was that the commercials miscalculated in allowing themselves to sell short to the managed-money longs at too low gold and silver prices earlier in the year. The reason the commercials miscalculated is that they misjudged the extent to which managed-money traders have attracted investor money. It was large investor inflows that created the much larger positions the managed-money traders put on this year.

 

Better than anyone else, the commercials and in particular JPMorgan now fully appreciate the tremendous buying and selling power that the managed-money traders possess. Armed with this knowledge, the commercials will never sell as aggressively at low prices when the prospects are for much more managed-money buying to come. It will be to the commercials’ advantage to lay back and hold off when the managed-money traders begin to buy, rather than rush to sell too soon as was the case earlier this year. This would result in much sharper price moves for silver than we’ve witnessed to date.

 

The right time to buy silver is after it has fallen sharply in price. That’s true with many investments, but buying silver at the right price can make you more money than just about anything else. The good news is that silver has fallen sharply from its summer price highs; making it a better buy now than it has been in many months.

GET STARTED WITH OUR $99 FIVE-PIECE SILVER SAMPLER

Click to view offer

 

A Wild Week

Posted by on May 10th 2017 in Short Sellers, Silver, Ted Butler | Be the first to comment!

A WILD WEEK

By Theodore Butler

 

Despite what you may have read, the big banks did not sell gold and silver to depress the price on the big drop recently. The data will show, just as they have always shown that the managed-money traders (computer-driven hedge funds) were the big sellers and the commercials (big banks) were the big buyers. In that fashion, JPMorgan and the big banks successfully closed out a large portion of their profitable short positions. The commercials rig prices lower through the magic of spoofing and other computer scams, but they do so only to generate managed-money selling, so that the commercials can then buy. And this week, the managed-money traders sold COMEX gold and silver in droves, while the commercials bought every contract sold. That’s the game. With record trading volume, this past week was among the best financially for the commercials and worst ever for the managed-money traders in gold and silver. Including the extraordinary price turnaround on Tuesday evening into Wednesday, I’d estimate that JPMorgan and the other commercials made more than $3 billion in gold and silver this week and the managed-money traders lost the same amount.

 

That’s a far cry from the near $4 billion the commercials were in the hole for during the summer price highs. This is the money game that drives gold and silver prices. The good news is that the market structure is nowhere near as bearish. We have taken a large step towards getting most of the downside price damage behind us. The commercials whacked huge chunks off the price and there seemed to be an urgency in getting the job done.

 

When the selloff is done, it is likely to be the final selloff in silver. JPMorgan is in the best position for a silver blastoff than it has ever been, particularly after this week, with its largest physical position ever and a sharply reduced paper short position (the whole point of the selloff). It is impossible that the commercials aren’t tuned into the managed-money traders’ behavior, especially considering how few in number are the large commercials. Earlier this year, the commercials were in the hole $4 billion in gold and silver, only to have made that back and $3 billion more over the decline. These are stakes guaranteed to get attention.

 

The reason for the $4 billion loss was that the commercials miscalculated in allowing themselves to sell short to the managed-money longs at too low gold and silver prices earlier in the year. The reason the commercials miscalculated is that they misjudged the extent to which managed-money traders have attracted investor money. It was large investor inflows that created the much larger positions the managed-money traders put on this year.

 

Better than anyone else, the commercials and in particular JPMorgan now fully appreciate the tremendous buying and selling power that the managed-money traders possess. Armed with this knowledge, the commercials will never sell as aggressively at low prices when the prospects are for much more managed-money buying to come. It will be to the commercials’ advantage to lay back and hold off when the managed-money traders begin to buy, rather than rush to sell too soon as was the case earlier this year. This would result in much sharper price moves for silver than we’ve witnessed to date.

 

The right time to buy silver is after it has fallen sharply in price. That’s true with many investments, but buying silver at the right price can make you more money than just about anything else. The good news is that silver has fallen sharply from its summer price highs; making it a better buy now than it has been in many months.

GET STARTED WITH OUR $99 FIVE-PIECE SILVER SAMPLER


Taking Stock: Metals Gain on Equities’ Pain

Posted by on December 12th 2014 in CFTC, China, CME Group, Federal Reserve, General Economy, Gold, Goldman Sachs, Interest Rates, JPMorgan, Middle East, Monetary Policy, Short Sellers, Silver, U.S. Congress, USD, Wall Street | Be the first to comment!

MetalsGainOnStocksPain

Despite falling a fraction of a percent on Friday, spot silver and gold added 4.4% and 2.6% respectively on the week, as the Dow ended its worst week since 2011, reports Bloomberg, finishing Friday’s session “with a 100-point lurch in the final half-hour of trading, as equities tumbled around the world after crude extended declines below $58 a barrel.”

Summing up the week, a Commerzbank analyst tells Reuters that “When the equity markets dropped quite sharply, precious metals soared, so there is definitely still the link between equities and gold in particular (due to) risk appetite among market players. Some of the equity markets had a decent run this year. We don’t expect this to be continued to the same extent next year, so this might give some tailwind to gold prices.”

See also:

GoldMoney/Jesse’s Café Américain: Market report – Gold was the safe-haven this week; Gold and silver charts & commentary

CNBC/USA Gold: Oil has world markets over a barrel as Fed meet looms

Zero Hedge/Bullion Star: Austria considers repatriating its gold; WGC notes 2014 Chinese gold demand could reach 1,700 tonnes

GoldCore: New York Times on benefits of gold in currency wars

Politico/Confounded Interest: How Wall St. got its way in spending bill

David Stockman/New Yorker: Memo to Citigroup CEO Michael Corbat: Does your crony capitalist plunder know no shame?; The winner of the spending-bill vote: JPMorgan Chase CEO Jamie Dimon

Investors ‘Returning to Gold to Take Cover’

Posted by on December 11th 2014 in CFTC, CME Group, Federal Reserve, General Economy, Gold, India, Interest Rates, Middle East, Short Sellers, Silver, U.S. Congress, USD, Wall Street | Be the first to comment!

TakingCoverWithGold“As a rout in energy prices spreads to global equities, investors are returning to gold to take cover,” begins a Bloomberg article about how assets in GLD, the world’s largest gold-backed ETF, rose on Wednesday “at the fastest pace since July. The holdings are up almost 1 percent in December, snapping four straight months of losses.” Spot gold and silver did however end marginally lower on Thursday, falling about one-fifth of a percent following what was described as an “upbeat” retail-sales report But following that release, notes Reuters, “data showed the net worth of U.S. households fell in the third quarter for the first time in three years, hit by a fall in the value of their stock holdings and rising debts, giving mixed signals on the outlook for consumer spending.”

See also:

Zero Hedge/TF Metals Report:  CME implements gold, precious metals circuit breakers up to $400 wide; a.k.a. trading collars

The Gold Report/GoldCore: Elliott Wave charts point to shocking countertrend for gold; Marc Faber favors commodity stocks in Asia … and gold, in interview with Barron’s

Sprott Money/SRSrocco Report: China’s role in the global (paper) silver market; Current price of silver $50 based on the historic oil-silver ratio

Confounded Interest/Moneynews: Fed bubble bursts in $550 billion of energy debt

Matt Taibbi: The 10 craziest things in the Senate report on torture

Does Flight to Safety Have Legs?

Posted by on December 10th 2014 in CFTC, China, Federal Reserve, General Economy, Gold, India, Interest Rates, Short Sellers, Silver, USD, Wall Street | Be the first to comment!

FlightToSafety

The metals moved a mere 0.2% on Wednesday, with spot silver ending up and gold down. “The weak oil prices sapped some of the strength out of the gold market,” according to HSBC analyst James Steel, but “weak equities and the stronger euro were positive, and that kept the losses to a minimum.” And while both metals consolidated recent gains, Arabian Money‘s Peter Cooper suggests that “The recent sell-off in precious metals seems to be over with a massive increase in long positions in the Comex powering prices to the upside.” And asking, “What could sustain a precious metals rally this time?,” he predicts “a flight to safety as other asset markets break down. Whether you look at bonds or equities they have a definite sense of vertigo at these levels.”

See also:

Peter Brandt/ValueWalk:  Six chart reasons why silver has bottomed; The bullish case for gold [charts]

BullionVault/Frank Holmes: Gold & silver price ‘surge’ turns bears ‘neutral’ as China trading hits record; What is China’s ulterior motive for gold?

Mineweb: Chinese and Indian gold demand boost fundamentals further; Gold forecasts for 2015 – Scotiabank mining panel

Economic Times: Indian households spend 8% of daily consumption on gold jewelry and coins

Mike Shedlock/Silver Institute:  I traded some gold for silver

Bullion StarGuilty gold

Financial Times/Telegraph: Investors tapped to fund gold fraud film; Chinese general gives out Mercedes filled with gold

Metals Pop as Dollar, Equities Drop

Posted by on December 9th 2014 in CFTC, China, CME Group, Federal Reserve, Gold, India, Interest Rates, Short Sellers, Silver, USD, Wall Street | Be the first to comment!

MetalsBreakOut

Spot silver and gold gained slightly more than 4% and 2% on Tuesday, while futures surged 5.3% and 3.1%, “as the dollar headed for the biggest drop in a month against a basket of 10 currencies,” reports Bloomberg, adding that “More than $100 billion was wiped from the value of world equity markets yesterday, and global shares are falling again today.”

The Bloomberg article also quotes an options trader as pointing out that “Stimulus from every corner of the global economy is now entrenched, and that’s bullish for precious metals. This is a change of sentiment in a huge way, because investors stopped looking at U.S. interest rates possibly rising next year, to see the fact that every other major economy is easing at a breakneck pace to try and quell the slowdown.”

See also:

Jesse’s Café Américain/Stockcharts:  Gold and silver charts: On the cusp – With all respect to Willem Buiter; Gold breaks out

Zero Hedge/InvestorPlace: Markets turmoiled as 5th Hindenburg looms

Bill Bonner: The next phase of QE will shock you; What do central banking & “twerking” have in common?

Bloomberg/Seeking Alpha: U.S. silver coin sales climb to annual record as prices rebound; Silver – Always a wild ride

Reuters: India should allow banks to hold gold as reserves – World Gold Council report

Eagles Score Annual Sales Record

Posted by on December 8th 2014 in CFTC, CME Group, Federal Reserve, General Economy, Gold, Monetary Policy, Short Sellers, Silver, USD, Wall Street | Be the first to comment!

EaglesOverTheTop

On Monday, American Silver Eagles hit an annual sales record, as the latest tally by the U.S. Mint put the sale of 2014-dated bullion Eagles at 42,864,000, besting 2013’s previous record by almost 200,000. But, reports Coin News, “This year’s annual record cannot climb too much higher. The supply of Silver Eagles will be shut off for about three weeks. On Friday, the U.S. Mint told its authorized purchasers that it was transitioning production from 2014-dated coins to 2015, and that it expects to have ‘enough coins to offer allocations through the week of December 15th.'” More from Silver Coins Today, which reports that the launch of 2015-dated Eagles will be January 12.

See also:

SilverSeek/Reuters: Gold and silver gain about 1%; Gold jumps above $1,200 on chart-based buying surge

KWN: James Turk – Here’s the reason gold and silver spiked after Comex close

Bloomberg: Gold bulls return as wagers on stimulus accumulate

Casey Research: Seven questions gold bears must answer

Zero Hedge/SafeHaven: On precious metals, patience, & paperbugs; Why Wall Street and governments hate gold

Bullion Star/SRSrocco Report: China’s Jan – Nov net gold imports  – 1,212 tonnes; Top primary silver miners Q3 2014 — Losses at $19

Morningstar/Alhambra Partners: Something’s not working in November jobs report; A matter, it seems, of faith

Metals Said to Have ‘Run Out of Big Sellers’

Posted by on December 6th 2014 in CFTC, China, Federal Reserve, General Economy, Gold, India, Interest Rates, Monetary Policy, Short Sellers, Silver, USD, Wall Street | Be the first to comment!

HeyBigSeller

After the November non-farm payrolls report showed a gain of 321,000 jobs, spot silver and gold came off lows on Friday to end the day down 0.9% and 1.2% respectively, reports Reuters, quoting one analyst as saying, “It will be interesting to see how (gold) develops as we move towards the FOMC meeting on Dec. 17.” He predicts that “If we have a more hawkish Fed, more of an adjustment in interest rate expectations, and a still higher dollar,” it will be negative for gold. Given those prospects, a Mining.com report concludes that “the damage may have been greater” for gold and silver on Friday, but argues that both were spared larger losses because they have “run out of big sellers.” And despite Friday’s downturn, silver and gold still ended up 5.5% and 2.1% on the week.

See also:

GoldSeek/SafeHaven: Gold shorting exhaustion; What’s next for the dollar and gold?

GoldMoney: Alasdair Macleod – Commodities & the dollar; The case for silver

Mineweb: Lawrence Williams – Is Indian gold turnaround a game changer for prices?

GoldSeek/Zero Hedge: New signs gold and silver are returning as monetary assets; Voices grow louder to end the U.S. dollar’s reserve status

Bullion Star: Belgium investigating repatriation of gold reserves; World Gold Council rectifies 2013 Chinese gold demand

Bloomberg: China said to consider scaling back restrictions on gold imports; Shanghai gold trade passes record as China seeks more sway

MarketWatch/GoldSeek It’s official – America is now No. 2; But, with an *

Mining.com: The world’s most corrupt countries ranked