After 48 hours of trading darkness, the COMEX pits are open this morning. One wouldn’t even need the press release to know, simply a glance at the gold and silver charts would suffice.
After strong gains throughout the overnight Asian and London sessions, gold and silver were hit hard exactly on the COMEX open.
Welcome back Blythe.
*Updated: Silver did indeed hold support at $32, and subsequently pop to $32.50 as predicted
Silver has been capped under $32 throughout light trading over the past 48 hours. Expect the cartel to attempt to knock silver back under $32 during Wednesday’s session. If silver holds at $32, it should move quickly to regain the $32.50-$33 level.
Gold traded within a few dollars of $1710 on Monday and Tuesday, but broke out through $1720 prior to the COMEX open sell-off. Look for gold to find support near $1715.
Keep in mind that today is Samhain, the elite’s highest holy day of the year, a date in which the elite take particular pleasure in harvesting the average joe’s wealth. (MFGlobal was taken down and it’s clients were fleeced on Samhain in 2011). Perhaps Sandy’s devastating destruction on the eve of Samhain will satisfy them for the year?