As the INO Markets chart below shows, the dollar is crashing to new lows.



… and precious metals markets are “going Apeshit"

SILVER BREAKS $50 Everywhere but the COMEX!!!!! COMEX to Follow Shortly


Zerohedge reports that precious metals have just gone apeshit.

(emphasis mine) [my comment]

Gold Opens $1,520, Silver Over $50 Everywhere But Comex (For At Least A Few More Minutes)
Submitted by Tyler Durden on 04/25/2011 03:44 -0400

While markets are relatively quiet everywhere, precious metals have just gone apeshit. Gold opens at $1,520 while silver hits $49.70 on the Comex, drops, and is backing up again last treading at $49.22, as the world is pricing in the end of the US reserve currency. The parabolic melt up is in full force and we expect the nominal Hunt high to be taken out today, after which the resistance is the real Hunt high somewhere around $140, courtesy of the Federal Reserve confetti.


…

Driving force behind behind gold/silver rally: physical shortages

Zerohedge reports that Four Scary Words: "Silver Delivery Not Possible".

Four Scary Words: "Silver Delivery Not Possible"
Submitted by Tyler Durden on 04/25/2011 12:38 -0400

The SHTFPlan's Mac Slavo brings us the story of one Bill Cramer who decided to cash in on his silver profits after a nearly decade holding period (under the assumption he was receiving warehousing services considering he was paying storage fees), confident that he could simply receive the metal he held with a broker, until he heard the following 5 very disturbing words: "SORRY, DELIVERY IS NOT POSSIBLE."

From SHTFPlan:

"Bill Cramer of St. Louis was pretty confident everything was on the up-and-up. He purchased 5000 ounces of silver back in 2003 for a spot price of $4.94 and stored them with an east coast broker. When he was discussing his holdings with his coin dealer, the dealer dared him to try and take delivery of the metal.

Bill took him up on that dare and contacted his broker requesting to take delivery of his supposed physical metal holdings, FOR WHICH HE HAD BEEN PAYING STORAGE FEES FOR YEARS. As you may have guessed, THE BROKER ADVISED HIM THAT PHYSICALLY DELIVERING THE METALS WAS NOT POSSIBLE."

Here is how Bill recounts his experience:

So, I took his dare, I called them up, it was June of last year. The metal I had purchased in January of ' 03. I said “I' d really like to take delivery of my metal —? the five thousand ounces.” They go “well, that' s not possible.” And, I go “well, I' ve been paying storage fees since January of ' 03, what do you mean I can' t take delivery.”

“Well, it' s part of the account. It' s called a pool account. And, you don' t take delivery, you just participate in the appreciation.”

So I immediately sold that 5000 ounces at $18.33 and I had my cell phone in my hand and I immediately purchased 2500 silver eagles at $18.41 and that' s how I reconciled the problem of not being able to take delivery of my physical metal from a brokerage account.

In other words: anyone who has "pool account" exposure may want to reevaluate their options. And, if we may add, anyone who has Comex storage exposure in general (University of Texas wink wink) even for allegedly delivered gold, and when massive amounts of "registered" gold get mysteriously shifted to "eligible" status, may want to be reeeeally careful now that silver is about to take out its all time nominal high.

Zerohedge reports that Apmex out of silver eagles until may 13.

Apmex Out Of Silver Eagles Until May 13
Submitted by Tyler Durden on 04/25/2011 13:01 -0400

With the US Mint forced to cut down dramatically on its Silver American Eagle sales, for some reason various timid elements considered the drop in monthly sales as indicative of a wane in investor interest (record prices aside). Perhaps the following note from Ampex: one of the otherwise "deepest" silver vendors in the market, may restore some balance to the (supply/demand) force.

[Notice the silver selling price: $52.71+ ]



And yes, for the vision and/or reading impaired, it says APMEX IS NOW OUT OF AMERICAN EAGLE SILVER COINS FOR ABOUT TWO AND A HALF WEEKS. But don't worry: it takes only $5/ounce to dig up the metal from the ground.

Latest Graph of Silver Prices

Below is kitco' s 24-hour Spot Chart for Silver. Things to note:

1) Silver prices spiking to $50.

2) Once again, silver/gold are hitting new highs during hong Kong hours.

3) The usual Comex manipulation. (See *****Graphs Showing The Manipulation Of Gold***** and Excellent Opportunity To Buy Gold)



My reaction: Since writing Gold Market Reaching The Breaking Point 18 months ago, gold and silver are up 50%. As seen in the above news, “the parabolic melt up” continues.


1) The dollar is crashing to new lows.

2) Precious metals markets are "going Apeshit". Gold opens at $1,520 while silver hits $49.70 on the Comex.

3) “the world is pricing in the end of the US reserve currency. The parabolic melt up is in full force.”

4) Physical shortages are once again prominently visible in precious metals markets. The US Mint forced to cut down dramatically on its Silver American Eagle sales, and now APMEX is out of american eagle silver coins for about two and a half weeks.

5) As I have repeatedly stated, anyone who has "pool account" exposure may want to reevaluate their options


Conclusion: Remember gold/silver aren' t going up so much as the dollar is going down and there is no limit to how much the dollar can go down.

Buy gold (or/and silver)