There is growing evidence that the rapid rise in the silver price is due to physical buying, not paper speculating. We can see this in the falling Commercial net short position trend as the silver price continues to rise. Typically in the past, when the silver price enjoyed a price increase, it occurred as the Commercials increase their net short posting. However, it seems… that this time is indeed different.
UPDATE: New changes coming to the SRSrocco Report, click here: MEMBERSHIP.
In my newest video update, SILVER PRICE SURGE: Physical Buying, Not Paper Speculating, I explain why this present silver bull market is much different than the past.
In the video, I discuss the chart below as to why I believe these two days were used by the Commercials and other large traders to liquidate short positions. There is no coincidence that the huge $4 price correct on Tuesday evening, July 28th, was mostly responsible for the decrease of 14,500 Commercial Net short positions two weeks ago.
It is going to be interesting to see how silver performs during early Asian trading today and in the U.S. markets tomorrow. While the silver price will need to experience a “Healthy” correction at some point, it seems that it may go higher before reversing.
IMPORTANT UPDATE:
I will be publishing an article on Wednesday, August 12th, explaining the transition of the SRSrocco Report to a subscription service within the next few weeks. While we will be providing approximately 20% public articles during the week, 80% will be for subscribers. And, there will be an Exclusive Gold Member Area on the website including analysis and information on the Mining Industry, Precious Metals, Gold-Silver-Resource Stocks, Advanced Charting, and extra detailed data on the Falling EROI (Energy Returned On Investment) and how it will impact the global economy in the future.
Brief information on the new membership levels, click here: MEMBERSHIPS
DISCLAIMER: SRSrocco Report provides intelligent, well-researched information to those with interest in the economy and investing. Neither SRSrocco Report nor any of its owners, officers, directors, employees, subsidiaries, affiliates, licensors, service and content providers, producers or agents provide financial advisement services. Neither do we work miracles. We provide our content and opinions to readers only so that they may make informed investment decisions. Under no circumstances should you interpret opinions which SRSrocco Report or Steve St. Angelo offers on this or any other website as financial advice.
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“However, it seems… that this time is indeed different.” – SRS Rocco Report
Wave C of the current stock market pullback is approaching. This will be the ultimate test for PMs. In my opinion it is too early to celebrate the new bull market. The depth of the coming pullback will determine where we are.
We have needed every factor that has brought it to this point; mine closures, physical & ETF buying, resulting shortages, price increases, and last but not even close to least, the commercials backing off of their concentrated short positions they have used since about 2012 to prevent fair market price discovery, while skimming the market for fun & profit.
But we need much more physical buying. We need industry for which Ag is essential to buy tons months ahead of when they used to place orders. We need institutional buyers to see the wisdom of buying for their hedge or pension fund.
ONLY ramped up physical buying (and to some extent ETF buying) will keep this going.
The powers that control the worlds’ financial systems really don’t want fair market price discovery to work on G, S, platinum, and a few other hard assets.
The bankers are more concerned with Corona propaganda than market forces. The singular nation is more concerned with getting people on-side for when the final catastrophe happens.
I like to bury myself in market analysis, but my instincts tell me different. The intermediary confidence trick will make no difference in the long run, as only those holding physical silver and gold will have anything of value. The Corona fans will still have vivid imaginations however.
There are those of us with a hidden incentive to take everyone else down the garden path but my alarm bells ring and I bring myself back to reality!
Reference; Tell the Truth and Shame the Devil by Gerard Menuhin.
I have no idea what you mean by “corona propaganda”.
Perhaps you can enlighten me in a concise manner.
And what is a “corona fan”?
A “Corona fan” I would guess is one who wears a mask because he is told to and believes 7% of the population died of it. And to be as concise as possible – “Corona propaganda” is everywhere. If you can’t see it that’s too bad.
Alan,
I think he has a different meaning for the words “corona propaganda” than you or I do. I think the term means the same to you and me.
Corona is an efficient way to cull the herd.
Even now its insane that the price isn’t already $35.
Bullion Dealers appear to be 80% sold out, and what is left is awkward denomination and awkward branded Silver priced with 20% premiums minimum.
Daily chart (7th August 2020) for silver shows an “Engulfing Bear” signal in Candlesticks, so we could see some downside this week. I would like to buy some more gold BUT I am waiting to see some downside.
I meant GOLD
Seems like silver is a bit overheated short term.
RSI over 80 last I checked, for slv
Also the miners are not confirming the move:
For SLV, last 5 trading days 22.6 to 26.2, a 16% gain
For the miners (SIL), 48.5 to 49.3, only a 1.6% gain
Normally, the miners should amplify silver’s gains and losses, but they aren’t doing that now.
Perhaps they are factoring in “nationalization” as well as covid. Supply drying up, will lead to greater demand and triple digit for silver. 26,000 million ounces above ground, 1,000 million mined and used up per year, and 52,000 million ounces under ground, but costing much more to bring up. tik tok, hence triple digit.
Hello, sorry For My Bad English. Im Spanish And I read All Your post during Lots Of Years Ago.
Im Dont Going To pay Any membership, I Think That If You Have Gold or silver You Are Winning Now Lots Of Money. I Have More Than 4 Tons of silver And Im Happy For This news. Anyway, I Know That You Need Receive Money For Your work, But Now You Cant Day Any real New About oíl And metals. Because Its happening And Cant Be stopped. You Hide Your 190 patreons members Months Ago. Not Sure If because Dont Increase or If Now Are Less, Or People Dont Help because 190 members Are a Good Number. Anyway, If You Are a real metal user, I Think That You Must give All People free info. Like For Example, golchartrus.com news. I Love The transparent holding metals report.
What Are You Going To say Now For charge a monthly payment?? That World Are Going To crash?? You Havent Got Any real And Important New, because You Are Only Going To repeat All The dame things That You Are talking in This website during Years.
I Love Your reports, I open This website every Day, But I Dont Like pay For updates. Im a stacker And I Have Lots Of metal so For me Its Only Important The Price, And I Dont Like sell My metal, I Can Wait 10 or 40 Years. Not a Problem.
Anyway, Im Very Happy With Your website And Your work, And You Are The Best informer.
Please, give us The 80% payment reports For free With a delay of 1 Month, 3 Months or 1 year delay, But Dont Hide For allways Your reports to People That Are interesed On metals.
I Love You Steve.
Spanish metal,
I am glad that you have enjoyed the free public content on the website for years and you have invested in 4 tons of silver.
I knew when I transitioned the website to a subscription service, not everyone would see it as a positive move. The irony of it all is that 99.9% of individuals who work at a job-occupation or run a business want to earn an income. However, if you provide information on the internet, for some odd reason… it’s expected by many that you do it for free.
So, it makes me wonder how an individual who acquired 4 tons of silver was able to do so?? If a person doesn’t make an income, how do they afford to buy silver??
I will continue to receive comments and emails from followers who disagree with the transition of the SRSrocco Report to a paid-member based website. However, are store owners, clerks, school teachers, electricians, barbers, cooks, and etc entitled to earn a living, but not individuals who provide information and material on a website?
I want to take this time to thank all those who have supported the public work of the SRSrocco Report and appreciate their consideration in selecting one of the new membership levels.
best regards,
steve
It is not reasonable to expect free contents forever. Thank you for your effort to educate us.
Hello Steve, sorry For Bad translation. This is a Good website With Good news, But I Think That Now Its Too late For Make Very Important news, We Are Near a colapse. So You Only Will repeat The same Like Years Ago, because Its happening.
I understand That Its a job For You, For me Can Be a hobby, Im a stock Market Trader And I offer free stock Market courses to People, Its My real hobby And y Love It. Anyway, Its Not Bad idea If You Take a fee From Tom metales, Other metal shop dealers or If You Make Your own coin shop. Its Not a Bad bussiness, Im a partner of europeanmint And I sometimes resell My own metal For Take a New One Winning grams.
Im Sure That You Can Have Your own shop And You Can offer free information Like Mike Malooney, Also I no Need fresh information, Its Only For hobby, I Only said You That Please show Your private reports 1 year later to publico, because Its a Very Good information And work. This is a Very Good website For resume actual And global situation.
Also, You Can Be introducing broker from Any broker And offer paper Gold And silver trading, taking fees For every client or spread. There Are Lots Of ways For Take Money With oíl And metal trading, mining shares trading, etc… And a broker Can pay You More Than 400 And More Than 2500 USD Per client, called CPA payment. Im Sure That You Can Win More Money Than patrón And suscriptions. And Also offer The donation or Other ways to colaborate With You.
Im An user From burbuja.info One economic forum With stackers And We review All Your post From Years Ago, sometimes People translate The info, And Help Lots Of New user to Take decitions.
Also, You Can Try To Make a second hand market From metals, where People Can sell his own metal And Not ve scammed From buy Gold And silver shops, Or Get Better conditions selling or purchasing old metal.
This is a Very Good community And You Can Make Very Good Things With All This People, helping us in Our trading And stacking, Also in selling It.
Please open Your mind and See New bussiness around The metals, there Are Very Good profits Waiting You.
And sorry For My Last post, Probably People Dont undestand My global idea. Thats Why I Have 3 dislikes. You Are Making Good education For All People, But I Think You Cant ofer New education if We Can read old post, because You touched All The Important Things With Your Very Good job And Now We Only Need Wait And show the disaster.
Good job Steve, I Love You. Be rich And Make New ways to Make Lots Of Money.
Anyway, I Will Continue reading This posts, And Probably Any payment member Will share Your info or photos For free in Other forums or communitys so Its Not The Best Idea block The info If People Can copy paste It. It happend With Other reports, And You Will loose Energy Trying To block It.
See You soon, And sorry If You Dont Like My words, Im With You.
Spanish Metal,
This is my last reply on this subject matter. You are free to your opinion, but you are incorrect in regards to your statement, “I don’t like your words.”
It has nothing to do with your words, but rather your view and mentality that the world “Revolves around you.” Your reply, similar to others, stems from the ideology that this website is just catered to you or a few individuals, but not a growing number of new viewers who would like to understand what you already know.
Lastly, as for your reply:
“Anyway, I Will Continue reading This posts, And Probably Any payment member Will share Your info or photos For free in Other forums or communitys so Its Not The Best Idea block The info If People Can copy paste It. It happend With Other reports, And You Will loose Energy Trying To block It.”
If you honestly believe that members should share my Paid-Member supported work for free publically on other websites, then I gather according to your mindset, then it’s okay for individuals to pirate just-released movies, and give them away for free as well. I sure hope you don’t believe that. I have to say, your mentality on this subject matter surprises me, but that’s what we get when individuals believe they are entitled to RECEIVE SOMETHING FOR FREE.
By the way, I did a quick calculation. You say you own 4 tons of silver. If true, then your silver is worth something north of $3.6 million… so you can’t afford to support a modest subscription service?
You are a real HOOT.
steve
Living in Switzerland and only read your articles for years and never replied. Great Job Steve and even the point that nobody (should and even have to) do a business for free is not cristal clear for all. So no wonder only a fraction is invested in physical PM. A lot of people are and will be totally stupid and arrogant on top.
Thanks for your great work Steve from my part. You did. and will do a lot to break this fraud money system some day. Good luck and health to you and the ones you are close to. Keep going!
I See That We Have different mind. Anyway, I Spend Lots Of time every Week reading news, updates And quarterly reports From companies Like Fresnillo, Im An investigador Like You, So I Have Too access to real time information, But Not in oil producción Like You in shale info website. I undestand That This website Its Very Important For People That Havent Got Our time For investigation, And Its a Good resume For whats happening in The World. Also, tech analisys Will Be fine For a non stock Market user With knowledge.
I Will Wait 2 Days For See suscription cost, Also, Now Your reports Are used as You Know by silverseek, silverdoctors And others For free, they Get thousands of visits With Your work, So Probably they Must Be The First in pay Gold membership, because they Are Making bussiness With Your information.
I Dont Like Be a Bad person With You, Only Try To open Your mind That there Are Better bussiness to Make as I recommend You in Last post. Im a Little YouTuber Too And in Few times I Use Your charts For explain in My languaje Things About peak oil And silver And recommend Your website.
I Can pay a suscription If Its Not Very heavy to pay, But Remember That normally I Get info in real time, And In 1 Or 3 Days You Make a report From This info. Now With corona virus You Are Making More reports Than Other Years, So I See That You Are working More This Days, And Its Better For pay suscription Than 1 year Ago.
I Dont Like Discuss About This, But Remember That there Are Lots And Lots Of People Than Cant afford a monthly payment And Preffer Purchase 1 silver coin every Month. So paying For information Are Making a division into richs And poors, Also I Think That poors Dont Think in stake Gold or silver, Or Have Nightmares With peak oil.
Anyway, i understand You, And If You Are The Best On This sector, You Must apply Your conditions. Also Remember That With Your Power And website You Can Make Very Better bussiness Using stock Market brokers, coin shop And Other Things, In combination With Your suscription.
Sorry For All problems That I made You. I really Love You, Im Sure of This. Big Steve, Good Luck. You Have The Best metal website And You Know It. I Will Help You.
Somehow I doubt that you have even 4 oz of silver, let alone 4 tons.
Sentence 1: “You Havent Got Any real And Important News”
Sentence 2: “You Are The Best informer”
Wow!!!
How about you sell an ounce of your silver a month and SHOW YOUR SUPPORT BY PAYING like a normal person?
With the 4 tons of silver you have, you should be set for the next 10,000 years as a subscriber.
Spanish Metal,
Why don’t you work for free? Do it for a few years.
All the time Steve has been giving away his work, research, and efforts for free, you have been earning an above average income…or you would have never had, or would have had to sell some of your holdings.
Steve, as a small business person myself I’ve seen many instances of people who believe they should make a high income, but I should struggle to survive & give them a deal (or free).
They had to drive to my office. In almost every case they were driving a car that cost tens of thousands more than my Honda.
Paper silver to become worthless. Real silver to become priceless.
I could spend more fiat on PM. However, I don’t. The US government has outlawed private gold ownership before. The current government could do the same shit. Never underestimate how evil the government is or could become.
And they could try to tax everything you own too; including the fiat you aren’t spending [on what they approve of you spending it on].
If your decision on whether or not to purchase PM’s is based upon the fear of future “confiscation” then I submit the Cartel has already achieved an effortless psychological victory over you without so much as a whimper from you.
They could also confiscate your Bible so stop buying those too!
Only the truly fool put everything into one basket.
The fool trusts in his digital investments but will instead inherit the wind.
Only the fool believe that there are only PM and digital investments. The wise men think of rental property, farm land, self sufficiency, health etc.
Agreed!
Self sufficiency is more easily achieved in an off-grid rural environment.
JLS: “Only the truly fool put everything into one basket.”
I’ve got THREE baskets.
One for Gold
One for Silver
And One Waste Basket (for fiat)
Good luck on your change over to being a subscription service. I’ll miss you
It’s your choice then, to miss or not to miss by paying a small monthly fee, as low as $10/month I think I read.
Very true DC. I go by a Starbucks usually everyday in the FL town I live in. There are always 12 or so vehicles in line on their property, and also usually 5 to 10 in the outside lane on a busy street…. the cops don’t pay them any attention(I’ve seen cop cars in the same line). When I used to go to Starbucks for a cheap ice coffee, before I made a point to always have coffee from home, most were getting about an $8.00 coffee plus some “thigh” pastries…. Many times I heard the baristas say, you back again so soon…..what is this, three times today? Point is, so many will pay for what they “want” but call someone else cheap if that person wants to make a living. I use to sell printing, and had many great accounts…. but I had some good ones that always complained about price, but were driving expensive vehicles….so I just gave them the price I wanted, and if they ordered, so be it. If not, they could go elsewhere. I had plenty of business that I did not want to deal with the butt holes. One advantage to owning ones own business. (I quit going to Starbucks when I figured that I could buy an extra four our five Silver Eagles a month drinking my home coffee….when they were under $10……I don’t have 4 tons, but I will be very secure when TSHTF……ha.
First, really sad to hear that you are moving to a paid subscription service. By moving to a paid subscription service you will lose tons of members that will no longer contribute to the article comments section which is a huge part of each article imo. Without the comments, I wouldnt be as interested anymore.
2nd, starting at $10/mo is quite steep… seems quite greedy, for $2.99/mo i probably wouldnt care and give it a shot. You already get income through ads.
However, I truly wish you the best, I will miss this website.
As for this article, its hard to understand physical demand at this time. The massive premiums is really hurting PMs imo. I have stopped buying silver eagles because of the premiums not because of the price of silver. I think many are in the same boat as me. 25% premiums is just robbery and its making the whole sector look bad.
“2nd, starting at $10/mo is quite steep… seems quite greedy….”
Sounds quite inexpensive to me. Seems to me there might be a better comment section when the people that don’t think this work is worth $10/month are not posting.
“I have stopped buying silver eagles because of the premiums not because of the price of silver. I think many are in the same boat as me. 25% premiums is just robbery and its making the whole sector look bad.”
It’s simple supply & demand. A lot of people have stopped buying silver eagles because of the premiums; buy official issue sovereign coins with lower premiums instead. But as long as lots of people are willing to pay ASE premiums and the supply is limited, they will remain high.
I don’t think the online bullion stores are ripping you off. I look at both the sale price and at the buyback price. I’ve noticed that the buyback price is now also over spot. For example at one online dealer, the silver eagle price is $38.15. The buyback price is $32.79 while spot is $29.26. Bottom line is that there aren’t any silver eagles available near spot. Online dealers are making 15% off of the arbitrage. That doesn’t seem excessive to me. It doesn’t look like premiums are going to decline anytime soon. If you want silver you should probably add some on the pullbacks. Keep in mind that silver has been in deficit since 2006. When COVID goes away a lot of investors and manufacturers will ensure the market remains tight for a very long time.
“The U.S. Mint has taken and will take additional steps, including the recent return of the San Francisco Mint to full capacity and the possible expansion of bullion production to that mint and to Philadelphia.
What this means for the market is that premiums should remain elevated as long there is a gap between how many Silver and Gold Eagles the Mint can make and the demand for these coins, and as long as more people are buying rather than selling bullion.
Whether the recent steps to increase production while keeping employees safe will be sufficient to meet the current demand, let alone demand for the 2021 coins, remains to be seen. A worsening of the pandemic would surely result in new shutdowns and slowdowns at the mints.”
https://coinweek.com/bullion-report/us-mint-making-changes-to-meet-exploding-demand-for-american-gold-silver-eagles/
Here in Australia, a variety of the MSM would charge me AUD$60.00/Month (US$43.00/Month) and I wouldn’t get anywhere near the quality of information I get from this site.
Life was not meant to be easy; recognizing QUALITY information, can be just as difficult!
Warren Buffet bets on gold:
https://www.zerohedge.com/markets/did-buffett-just-bet-against-us-berkshire-buys-barrick-gold-dumps-goldman#comment_stream