Gold had already cleared $1780, trading at $1783, and silver had traded to within pennies of $35 at today’s COMEX open, so to no one’s surprise, Blythe and her monkey’s immediately sprang into action on the COMEX open, defending the crucial levels as gold was knocked back under $1780 to $1775, and silver back to $34.65.
We have repeatedly discussed the importance to the cartel of $1780-$1800 gold and $35 silver, as once these levels are cleared lack of resistance will see gold run straight back to it’s all-time nominal high of $1915, and silver should make a $2.50 move to $37.50.
Today marks approximately the 95th time the cartel has defended $1780 and $35 over the past 2 weeks.
Unfortunately for the cartel, both metals are currently heading back for another challenge of $1780 and $35. It is only a matter of time before the cartel defense is broken, and they are forced to retreat and set up their defenses again at a higher level. There is simply too much physical gold and silver purchasing pressure at these levels currently.
Silver trading in Tuesday’s HFT algo:
Gold also trading in Tuesday’s HFT algo footprint:
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_silv.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_gold.gif)
Today might actually be the day we hold over $35. Just a hunch. They are losing their grip for sure!
How do you guys know it’s the Cartel holding down the price as opposed to gold/silver hitting natural resistance levels?
because the drops are vertical. simple as that.
There are no “natural resistance levels” in heavily manipulated and completely distorted markets. Sorry, but that’s a really dumb question if you’ve been following gold or silver for very long.
Gold and silver are undervalued by factors of 3, 4, 5, who knows. Could be even higher.
When you see that there are big vertical gains or loses all in a sudden. They are bigger than the normal ones. Usually, they are more than a 0.50$ gains or loses at once.
doesnt matter wether its the cartel or natural resistance if its popped we should see some movement …. i would like to see silver over $35 soon … we have had no real pull back from the gains over the last month so i wouldnt be suprised if it takes a little longer… but ill blame the boogy man and uncle tom cobbly and all if it helps me feel better …
@thorishere – 15 years of intense study of the markets. Normal freely traded markets to not trade up against a resistance level and got knocked down over 25 times in under a week. This is a cartel pattern observed throughout the duration of the current bull market in gold and silver. The cartel attempts to manage the ascent of gold and silver. This is 101 of their operations- more important than the more famous massive waterfall declines. Once the market simply overwhelms them they retreat, and prepare for the same capping at higher levels. Look for an explosive move once gold closes above $1800, and silver makes 2 consecutive closes above $35.
Mahalo Doc..I want to see GATA Bill Murphy’s Jp Morgan Scandal hit home soon. Apparently President Obama’s Financial Team has hit Jp Morgan with some sort of lawsuit.. Now this could be a political move for the election and or my opinion here Jamie Dimond is rallying around Mitt Romney..We shall see.
agree 35 is heavily capped but pretty sure today has a lot more to with the adp numbers. We will see slv clear comfertably 35 on Friday with weak nfp and hold its gains until the close.
why is the price of gold over 1780 and silver over 35.5 is an important price? its just a number?? what makes it special?
These prices $35 silver and $1800 gold are important because there is no resistance above in gold until the record high from september last year. Clear 1800 and its a very fast move to that high. In silver, get and stay above 35 and a move to 37.50 follows and then thats also it with no resistance until the $50 high from last May.
It looks like after two attempts which failed within 2 hours of comex open, they have given up trying until probably towards end of us trading. Very, very powerful buying today.
As I write the cartel are trying again to take down silver on europe close after failing twice on comex open.
Silver to Blythe. MOLON LABE
If JPM knows Obama will lose, and I expect they have sniffed that out, racing to ally themselves to Romney and flowing millions to his campaign chest, BHO’s Chicago style smashmouth policies will be rolled out to punish former allies like these banksters. About 90% of all bankster contributions went to BHO in 2008 In 2102, 90% of these funds are rotating to Mitt. He’s in the pocket of Goldman Sachs as well. GS funded his build out of Bain and now manages his $250 million net worth
i think we will not see the $35 this week, as there is a holiday in china! a 3-4 days holiday!
i think next week,, they gonna put some pressure on the price,, to give a message to the manipulators, that the game is over for the $35 range..
@ Bay of Pigs
I’m aware that these markets are heavily manipulated but that does not mean that the Cartel is manipulating the market 24/7. Also, just because they are manipulated does not mean that natural market forces do not apply. If the Cartel’s manipulation was all encompassing then there would be no point in buying PMs because they would never rise.
http://thehill.com/blogs/on-the-money/banking-financial-institutions/259623-head-of-obamas-mortgage-task-files-suit-against-jpmorgan
Obama’s Task Force Sues Jp Morgan.. You Received Presidential Cufflinks and Got A Pass. Now You Team Up With Mitt.Squeeze is on..
JPM will continue the game until they run out of money. With Obama going after them maybe the backing of the fed will dry up.
We should thank to the cartel that they were able to keep silver’s price very low for a long time because it helped us stack a lot of gold and silver very cheaply. Now, I can see that it is getting harder for them to keep them this way and soon, it will become impossible.