After further consideration, the medical issues that have caused me to interrupt the service do not appear to be getting better anytime soon. As a result please accept this as notice of the shutdown of Butler Research, LLC. Thank you all for the many years of support. It is somewhat ironic that at this point silver never looked better to me. I think the biggest mistake someone could make is selling too soon. Ted Butler
May 8, 2024 – Notice
Due to unforeseen circumstances, there will be a suspension of reviews and articles for the next few weeks. Payments for accounts will be suspended until articles and reviews resume. Sorry for the inconvenience Ted Butler May 8, 2024
May 4, 2024 – Weekly Review
Weekly Review Due to unforeseen circumstances, there will be no review today. Next article will be Wednesday. Sorry for any inconvenience Ted Butler May 4, 2024
May 1, 2024 – Finally, A Reasonable Explanation
I’ll get into yesterday’s price smash in gold and silver yesterday a bit later (although I did explain in advance how there was only one possible reason for a selloff, namely COMEX paper positioning). Instead, I’d like to first discuss what I believe is strong evidence explaining the recent price surge in gold, that I previously hadn’t come across. Upfront, the discovery didn’t originate with me, so I’m not in the least taking any credit for coming up with it. It seems most observers have been crediting the surge in gold prices to increased purchases by the world’s central banks and that’s undoubtedly true to a certain extent. But it’s also true that central bank purchases have not grown exponentially over the past year. Here’s a very recent article indicating just that. While not broken out, the central bank of China accounted for less than 10% of the 290 tons…
April 27, 2024 – Weekly Review
As a result of the highly-deliberate price smash last Sunday evening, the price of gold and silver finished sharply lower for the week, with gold ending lower by $56 (2.3%) and with silver lower by $1.47 (5.1%). As a result of silver’s much steeper relative weakness, the silver/gold price ratio widened out by two and a half points to 86.3 to 1. Despite the sharp weekly losses, gold is still up by $300 (14.6%) since the end of February, with silver still ahead by $4.75 (21%), among the sharpest rallies in years. At the extreme price lows this week, gold was off by $100 and silver by $2. At least for this week, gold and silver prices were set on the COMEX and not in China, India, or elsewhere. Sunday night’s sharp selloff was solely a COMEX orchestration. This could not be proven in yesterday’s latest Commitments of Traders (COT)…
April 24, 2024 – Not Natural or Legal, But Typical
So, we got our first serious selloff on the price rally that commenced on Feb 27 and carried $365 (18%) in gold and $6.20 (27%) in silver through Friday (on a closing basis). The selloff over the past few days into the price lows of yesterday has amounted to more than $100 in gold and $2 in silver, quite substantial by any measure. While there are a lot of things one could say about the selloff, like it started and for the most part occurred in the always illiquid trading session starting Sunday evening (typically when the collusive COMEX commercial vermin come out to play) and with no real news to explain it; it could hardly be called unusual in any real regard. That’s because we’ve seen too many of these same selloffs over the years and decades to be truly shocked by this one. While it’s way too soon…