Silver Breaks Out, Paper Market is Nonsense: John Hathaway

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With silver trading at a new multi-decade high trading above $34 and gold up almost $20 breaking above $1,400, King World News today interviewed John Hathaway, Senior Managing Director of the Tocqueville Gold Fund. Hathaway stated, “What I strongly believe is that the amount of paper we are seeing traded in both gold and silver on the Comex and in the derivatives market is nonsense. It has to be something in the order of 100 to 1. The fact that the market is moving today when the Comex is closed tells me it is not New York that is doing this, it is physical demand.”

Hathaway continues:

“I think it is just a tight market. There have been reports of some difficulty regarding physical availability of silver. Retail interest is being driven even further by the price action in silver.

Silver has broken out to the upside and because of that you have technical buying and short covering. This could in fact be a short squeeze.

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Full article here: King World News

More on gold and silver:

Silver:

– Short Squeeze Takes Silver To Fresh 31 Year High

– Silver: Short Squeeze Could Be the Big One – Reaches New Multi-Decade High – Still In Backwardation

– Massive Short Squeeze in Silver, Gold to Hit New Highs

– London Source: Asians Buying SLV to Take Delivery of Silver

– COMEX Silver Inventories Drop To 4 Year Low. COMEX Default Or Hunt Brothers Redux?

– This Past Week in Gold and Silver

– ‘US Silver Term Structure Inverts As Supply Tightens’ – Reuters Article On Silver Backwardation

– JP Morgan Silver Manipulation Explained (Part 1-4)

– Silver Bullion Backwardation Suggests Supply Stress

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– Silver Is Already In Extreme Backwardation! If The Same Happens With Gold, Then The End Game For The US Dollar With Hyperinflation Is Near

– Perth Mint Has Run Out of 100 Ounce SILVER Bars for at least 6 Weeks!!!

– Silver Breaks Its Golden Shackles And More Signs of Silver Shortages

– $6,000 Silver and the ONE BANK

– Canada’s Biggest Bullion Bank Scotia Mocatta: ALL SILVER BARS SOLD OUT

– US Mint Sells Absolute Record 6.4 Million Ounces Of Silver In January, 50% More Than Previous Highest Month

– Eric Sprott: Expect $50 Silver, Gold Possibly $2,150 by Spring

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– BullionVault.com Runs Out Of Silver In Germany

– Silver: Shortage This Decade, Will Be Worth More Than Gold (!!!)

– Silver Derivatives – China and JP Morgan

– Max Keiser: Want JP Morgan to Crash? Buy Silver!

– Max Keiser: Crash JP Morgan – Buy Silver!

– JPMorgan Silver Manipulation Explained (Must-See!)

Gold:

– Probable Black Swan Event Equals Gold Explosion

– Richard Russell: Possibility of Gold Breaking to New Highs

– Brazilian Billionaire Eike Batista Reaffirms $1 Billion Bid for Ventana Gold

– Americans Will Flock Into $5,000 Gold and $500 Silver

– Chinese Have A New Method To Buy Massive Amounts Of Physical Gold, Bypassing Comex And Any Form Of Delivery Limits And Problems

– Gold This Decade!!!

– ‘GoldNomics’: Cash or Gold Bullion?

– George Soros’ and John Paulson’s Biggest Holding Is GOLD

– China, Russia, Iran are Dumping the Dollar, Buy Gold And Silver

– Gold and Gold Mining Shares As a Percentage of Global Assets or ‘The Once In a Lifetime Ride’

And don’t forget to do this (!!!)…

– James G. Rickards of Omnis Inc.: Get Your Gold Out Of The Banking System

… or …

– US DEPARTMENT OF HOMELAND SECURITY HAS TOLD BANKS – IN WRITING – IT MAY INSPECT SAFE DEPOSIT BOXES WITHOUT WARRANT AND SIEZE ANY GOLD, SILVER, GUNS OR OTHER VALUABLES IT FINDS INSIDE THOSE BOXES!

Related information:

– Tungsten Outperforms Gold, Returns 70 Percent In Last Year (And we all know exactly why!)

– Alert: Get Out of Your Dollar Assets Now!!!

– The Ultimate Cost of 0% Money

– These Central Banks Are Printing Money – Prepare Yourself

– Quantitative Easing Explained