Buyers Of Physical Silver - Here Is A Key Chart For You

Today top Citi analyst Tom Fitzpatrick’s team sent King World News four tremendous charts covering the key markets of silver, crude oil, copper and the FTSE Mining Index.  One of the charts is especially important for the silver bulls.  KWN is pleased to share this information with with our global readers.  Below is what top Citi analyst Fitzpatrick’s team had to say in their latest report, along with four powerful charts.

Fitzpatrick’s Team: “The present set up on Brent and Nymex both suggest that lower levels in the oil price are a danger in the weeks ahead.  The spread chart between the two further suggests that Brent may continue to underperform (as it has done recently). 

Copper also looks set for further losses.  That target corresponds closely to the converged 200-month moving average (which we hit in 2008), and rising trend line support off that 2008 low (196.5-198.5).

(more)

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Do Charts Say Big Correction Coming?

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Commodity slump ripples run through global economy

Lower airfares, cheaper food and rising profit margins are among the benefits that should flow from tumbling oil and commodity prices - but only after a long lead time.

Having poured $400 billion into commodities over the past decade, many investors are now selling. Their confidence that risky assets could only float higher on a rising tide of cheap central bank money has crumbled as the global economy fails to respond to the stimulus.

Even China, an important buyer of natural resources, is slowing. Inflation, against which gold in particular is a classic hedge, is falling nearly everywhere.

Price pressures will ease further if natural resources keep falling. That is bad news for exporters such as Saudi Arabia and Brazil but good news for net importers. (more)

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How to Be Financially Prepared for a Crisis

Most people don’t have a disaster plan, including the wealthy—who are used to having things go their way. The WSJ’s Deborah Kan and Wei Gu talk about how to be prepared without being paranoid.

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US Weekly Economic Calendar

time (et)	report	period	Actual	CONSENSUS forecast	previous
MONDAY, April 22
8:30 am	Chicago Fed national activity index	March
10 am	Existing home sales	March		5.03 mln	4.98 mln
TUESDAY, April 23
9 am	Market flash PMI	April		--	54.6
9 am	FHFA home price index	Feb.		--	6.5% y-o-y
10 am	New home sales	March		421,000	411,000
WEDNESDAY, April 24
8:30 am	Durable goods orders	March		-4.0%	5.6%
THURSDAY April 25
8:30 am	Weekly jobless claims	4/20		351,000	352,000
FRIDAY, April 26
8:30 am	GDP	1Q		3.0%	0.4%
9:55 am	Consumer sentiment	April		72.3	72.3

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NatGas Spikes To 21-Month High, Market Must Loosen To Prevent Winter Surge To $8

Natural gas rose to near $4.40/mmbtu today after the Energy Information Administration reported that operators injected 31 billion cubic feet into storage last week, below the 33 to 38 bcf build most analysts were expecting.

The injection was above last year’s build of 23 bcf, but below the five-year average build of 41 bcf.



In turn, inventories now stand at 1,704 bcf, which is 797 bcf below the year-ago level and 69 bcf below the five-year average (calculated using a slightly different methodology than the EIA). (more)

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7,000 Tons of Gold Bullion Removed from Fort Knox From 1973-74!

We have discovered the manuscript of a 1981 article by The Globe which reported that 7,000 tons of gold bullion were removed from Fort Knox from $1973-74, and the only bullion that remained was from melted down gold coins & was of such poor quality (at least 10% copper) that it would not be accepted on the open market by any nation.
“300 truckloads of bullion were simply driven away.” 

 The American Gold Commission in Washington will this week begin an examination of Treasury documents to decide whether 7000 tons of gold, enough to fill 300 lorries, has been stolen from Fort Knox, the world’s biggest and most protected bullion store.
 
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