paolo

Onces i bought this morning now are 0.7 more expensive than this morning, regardless the fact spot is down 3% more respect to when i bought.i think they have increased the premium of around 10% in one day

Added 0 minutes later... i was speaking in euros sorry. GS,be, also increased the premium a lot today, around 10%

But has anyone notice all dealers have insanely raised the premium on silver? every time the price was touching 15.00 euros they have reset the price 0.75 higher. I saw several dealers doing this. Seems whatever is the market price they will not sell below 15.00.

Hi, 
I dont know how many noticed but many dealers are increasing delivery time due to high demand of silver or either say out of stock. Plus the premium is going up when buying..

So is this when the price of physical shows a much higher premium compared to gold? The physical sellers aren’t going to want to lose out just because paper says so.
The dealers are already posting on their websites that their shipments will be delayed due to strong demand. 

Realistically, who would be dumping large amounts of gold now.

Well, if i was in their place i would do the following:
1) Push all the cows into fiat liquidity, crashing gold, silver, all commodities, while the stock market will crash on their own..So with panic and everything going down people will look for refuge into fiat liquidity..
2)Once the majority of the people will be in the fiat trap (imagine if gold is crashed 50% how many will have sold it....) then they can go for a reset directly creating a new digital currency or indirectly by hyperinflation. This of course only after having confiscated the gold (few will complain of confiscation if the gold will be down much ).
Otherwise there is the risk that when a new currency will be done, or during hyperinflation, gold will be revaluated several multiples while people still hold it, and dont think they will allow people to have it in that case!

I dont think the reset Will be a Linear process but a sudden event. Maybe Gold Will go down to fiat even a lot and then suddenly reset to a new level. To stay in fiat Is too Dangerous i think, and also having It in the bank. 

Why?  Are you the one placing the $3 billion order???

Well of course.  No better way to drum up business than by creating some hysteria for the FOMO lot.  They are one of the more expensive dealers too. 

Added 0 minutes later... See the post from Shuggy a few hours ago.

BTW -I'm a Contributor to GATA! - 😉

@sixgun i'm pretty sure you will like this!
BERT WERT DUZ AYE NO!
Who smashed gold yesterday afternoon? Let's 'round up the usual suspects'
 
Dear Friend of GATA and Gold:
Somebody seems to have dumped a lot of gold derivatives on the market this afternoon, and Zero Hedge estimates it at $3 billion worth and attributes it to the Bank for International Settlements:
https://www.zerohedge.com/commodities/gold-suddenly-hammered-multi-billi...
There may not yet be any public evidence tying this particular attack to the BIS, but whoever did it plainly meant to drive the price down rather than to take profits on a long position, since you don't take profits by driving the price down all at once but by selling gradually enough not to crash the price.
And the BIS can't help being one of "the usual suspects" given its many acknowledged interventions throughout history.
 
For example, in 2005 William R. White, the director of the BIS monetary and economic department, told a BIS conference in Basel, Switzerland, that a primary purpose of international central bank cooperation is "the provision of international credits and joint efforts to influence asset prices (especially gold and foreign exchange) in circumstances where this might be thought useful":
http://www.gata.org/node/4279
The BIS actually advertises to potential central bank members that its services include secret interventions in the gold market. Here's a PowerPoint presentation the bank made to prospective central bank members at BIS headquarters in June 2008:
http://www.gata.org/node/11012
Indeed, according to its 2013 annual report, the BIS functions largely as a gold banking and gold market intervention service for its member central banks. On Page 110 of that report the BIS says: "The bank transacts foreign exchange and gold on behalf of its customers, thereby providing access to a large liquidity base in the context of, for example, regular rebalancing of reserve portfolios or major changes in reserve currency allocations. The foreign exchange services of the bank encompass spot transactions in major currencies and Special Drawing Rights (SDR) as well as swaps, outright forwards, options, and dual currency deposits (DCDs). In addition, the bank provides gold services such as buying and selling, sight accounts, fixed-term deposits, earmarked accounts, upgrading and refining, and location exchanges." See:
http://www.gata.org/node/12717
Secret gold market interventions by the BIS have been going on for a long time. A long article in Harper's magazine in 1983, based on a seemingly unprecedented interview with BIS officials, disclosed that the BIS was constantly intervening in the gold market in secret:
http://www.gata.org/node/8773
GATA consultant Robert Lambourne, probably the only student of the BIS outside central banking itself, documents the bank's monthly interventions in the gold market by interpreting the footnotes in the bank's monthly report. Lambourne's most recent dispatch, analyzing the bank's monthly report issued January 31, disclosed that the bank's interventions in the gold market had reached their highest point in nearly a year:
http://gata.org/node/19824
Three years ago GATA asked the BIS to explain its interventions in the gold market -- their underlying objectives and their real parties in interest. Of course the bank refused to account for itself:
http://www.gata.org/node/17793
But the BIS doesn't necessarily rig markets for its own advantage. Rather it acts for its members, which include most central banks, to which the BIS gives cover for market interventions.
It would be nice if mainstream financial news organizations made even a nominal effort to preserve their professional dignity by asking the BIS to account for and explain its interventions and by reporting that the bank won't explain.
But maybe such journalism is no longer necessary. For can there by anyone who follows the gold market who doesn't know by now where the out-of-the-blue smashdowns in the monetary metals come from?
And can anyone who follows the gold market not have noticed that these smashdowns have been losing effect since last June?
Really, if people who follow the gold market can't figure out the purpose and general origin of today's attack and can't understand that an attack this brazen signifies profound weakness and possibly depletion of the real metal central banks are prepared to lose to defend their currencies against the once and future international reserve currency -- well, any such people should apply for jobs at the Financial Times or Kitco.com.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
 
 

A MEGA THANKS to an "ITALIAN AFFILIATE"! - cheers @paolo
AWESOME BARS! to add to my "mini bar" collection!