It is my privilege now to welcome in Steve St. Angelo of The SRSrocco Report. Steve is an independent researcher and investor who follows the precious metals and energies markets like few others, and has one of the very best content based websites in our entire industry. Steve, welcome back, it's good to talk to you again.
COT Silver Report - May 27, 2016
It is a continuation of the previous week’s trend, which saw larger falls. To date, from 1st January the dollar price of gold this morning in early European trade is up 15.14%, and silver 17.7%. So even though prices have fallen this month, holders of precious metals have done better than those exposed to other asset classes.
Meanwhile, the precious metals sector has sprung back to life after a 5-year period of an unabated manipulated price-thrashing of gold and silver. Despite Goldman Sach’s incessant plea for $800 gold, the yellow dog ran from $1050 in mid-December to just over $1300 by the end of April. A 24% rise in 4 1/2 months. In the same period of time, silver ran up nearly 31%. The mining stocks, per the HUI index, ran up just over 130% since January 19. If the general stock market or any of the fast-moving sectors made moves like this, the meat with mouths on CNBC etc would be doing naked cartwheels on air every morning.
It’s Thursday morning, and this will be my last article before the long holiday weekend. That said, there’ll be plenty to “study” over the next four days, care of this link to the entire, nearly three-hour proceedings of last week’s Houston “Q&A Rap Session” with myself and Miles Franklin’s President and Co-Founder, Andy Schectman – hosted by one of the true “good, smart people” in this business, Daniel Ameduri of Future Money Trends. In it, essentially every topic you can imagine is covered – all of it, with no strings attached.
“For an electronics manufacturer to come directly to us -- that tells me something is changing in the market,” said Keith Neumeyer, chief executive officer of First Majestic, the top stock in Canada and among its global peers this year. “I think we’ll see three-digit silver,” he said, predicting the metal could surge to $140 an ounce by as early as 2019.
The Royal Canadian Mint just published its Q1 2016 Report, and the silver bullion coin sales figures were stunning to say the least. Not only did sales of Canadian Silver Maple Leafs surpass its previous record during the third quarter last year, it did so by a wide margin.
Today, I’m going to demonstrate, in spades, why the Miles Franklin Blog is such a valuable, FREE resource – and consequently, why “all bullion dealers are not commodities.” I try to do this every day, and this October, will mark my five-year anniversary at Miles Franklin. However, it’s in “times of need” like today – when “the powers that be” are doing their best to prevent you from protecting themselves from the death of the historically destructive monetary paradigm they themselves created – when truth tellers like us are of maximum value. Not to mention, that when purchasing, selling, or storing bullion – as with anything in life – “you get what you pay for.”
Let’s face it, what’s going on now – into this morning, as the Cartel’s “Sasquatchian footsteps” couldn’t be more evident – is the long-awaited liquidation of speculative positions in the paper markets; as sadly, the “commercials” did in fact win this battle, en route to the aforementioned Waterloo that awaits them. That said, those holding physical metal as long-term savings – as protection, and insurance, against the mathematically certain collapse of fiat currencies worldwide – didn’t “lose” anything this week, other than their tempers, at watching the Cartel again gain the short-term upper hand.
SPOKANE, Wash., May 24, 2016 (GLOBE NEWSWIRE) -- Mines Management, Inc. (NYSE MKT: MGN, TSX: MGT) (Mines Management) and Hecla Mining Company (NYSE:HL) (Hecla) today announced a merger agreement with Hecla acquiring Mines Management. In the proposed merger, each outstanding common share of Mines Management will be exchanged for 0.2218 of a common share of Hecla. This represents a 41% premium to Mines Management, using both companies' 10 day VWAP (Volume Weighted Average Price) on May 20, 2016. The transaction is expected to close in the third quarter, 2016. The transaction is subject to approval by Mines Management shareholders and other closing conditions.