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| RATIOS & INDEXES |
| Gold / Silver | 61.11 |
| Gold / Oil | 14.16 |
| Dowjones / Gold | 11.29 |
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 | Articles related to Bank participation report |  |
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 | Theodore Butler - Butler Research |
 The Worst Regulator Possible |
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Sticking with the theme of milestones, we’ve just crossed a few important anniversary dates that relate to silver that taken in proper perspective point to a disturbing conclusion. That conclusion is that the US commodities regulator,Tuesday, May 14, 2013 |
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 | Alasdair Macleod - Finance and Eco. |
Gold market report: gold and silver under pressure  |
| The sell-off in precious metals gathered pace this week into what is often called capitulation. Money-managers (hedge funds) cut their long gold positions on Comex by 19,044 contracts in the week to Tuesday, 26 March. This was the biggest single factor in the fall in open interest, which continued for the rest of that week. Open interest is shown in the chart below.
Since Tuesday, despite the slide in the gold price, open interest has picked up indicating that there is buying support at theseSaturday, April 06, 2013 |
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| Theodore Butler - Butler Research |
 The Good, Bad and Ugly |
| I’ll save the good for a moment, but the bad and the ugly seem to permeate the silver and gold and other markets. On Wednesday, I mentioned that one reason gold and silver failed to move higher after the Cyprus news was such a rally would have interfered with a planned takedown in copper, platinum and palladium, which was evident on Monday and Tuesday. For the record, there was the expected substantial commercial buying in copper and platinuTuesday, March 26, 2013 |
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| Alasdair Macleod - Finance and Eco. |
| Gold market report: COT update |
| Bullion has been steady this week, with gold rising $12 to $1,590 and silver falling 13 cents to $28.80 as of Friday morning. Open interest in gold has picked up by 19,000 contracts in US futures markets this month so far, and in silver by over 6,100 contracts – suggesting good support at current prices.
Last weekend the Bank Participation Report was released. This shows the outstanding net short position in futures markets for both US and foreign banks. As can be seen in the chart below, substMonday, March 18, 2013 |
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| Alasdair Macleod - Finance and Eco. |
| Gold market report: managed money chasing the trend |
| Some stability returned to precious metals this week, with gold rising $14 from $1,564 at last Friday’s low to Friday morning, London time, and silver rising $0.65 from $28. Predictably – on the back of recent falls in precious metal prices – technical analysts, who are basically trend-followers, have turned bearish.
An examination of market action tells a different story. Recent price weakness has allowed the bullion banks to reduce their short positions significantly. So here is a rhetoricalSaturday, March 09, 2013 |
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| Alasdair Macleod - Finance and Eco. |
| Gold market report: spike in banks' net short silver position |
| Last Friday night (European time, 8 February) the Bank Participation Report for 5 February was released. This showed that US banks reduced their net short gold position by 12,886 contracts over the month of January, while non-US banks increased theirs by 2,887 contracts. This is evidence that the US banking community is aggressively closing its short positions. A little of this was picked up by the non-bank commercials (mostly mines, refiners and processors) whose net shorts increased by 6,512 cSaturday, February 16, 2013 |
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| Alasdair MacLeod - Goldmoney |
 Gold futures market heading for crisis  |
| I thought I had a good idea what disasters we might face in 2013, and then I saw the most recent US Commodity Futures Trading Commission’s Bank Participation Report for gold and silver. On the basis of recent BPRs these markets are heading for a crisis, which is generally unexpected. I shall break the reader in gently by looking at gold first.Tuesday, December 11, 2012 |
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| Theodore Butler - Butler Research |
| A Manipulation Timeline |
| A friend and long-time subscriber whointends to write a book about the silver manipulation asked if I could provide him with a bit of history. To my mind, the silver manipulation dates back to early 1983, when the commercial traders grew confident that they could sell any quantity of paper short contracts to the technical fund buyers on the COMEX.Monday, November 26, 2012 |
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| Theodore Butler - Butler Research |
 The CFTC Silver Investigation |
| There has been an explosion of interest and commentary these past few days as a result of a front page story in Monday’s edition of the influential Financial Times (of London). The story stated that the CFTC was set to drop its four year investigation into alleged silver price manipulation due to insufficient evidence to bring charges, according to three unnamed sources.Friday, August 10, 2012 |
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| Theodore Butler - Butler Research |
| A Few Questions; One Answer |
| Please read this article carefully because I’m disclosing for the first time that the U.S. government has given JPMorgan the green light to manipulate the silver market. This fact explains the shenanigans in the silver market. It answers all the questions and exposes this tawdry affair for all to see.Sunday, June 17, 2012 |
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| Theodore Butler - Butler Research |
| Illegalities |
| The Commodity Futures Trading Commission (CFTC) has been negligent in failing to terminate the obvious manipulation ongoing in silver. Furthermore, the agency may be complicit in this manipulation. Worse, it has lied to the public and elected officials. This all goes back to the time when Bear Stearns was taken over by JPMorgan in March of 2008.Monday, May 28, 2012 |
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| Silver Price Manipulation - Butler Research |
| Illegalities |
| Monday, May 28, 2012 |
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