Gold and silver exploded higher early in COMEX trading today, with gold vaulting $12 to $1632, and silver popping to $28.98 before both were promptly whacked back down.
Gold and silver have been trading like underwater corks throughout the week, with both metals popping vertically immediately on the COMEX open the past 3 days before promptly being whacked back down by the cartel.
![Live New York Gold Chart [Kitco Inc.]](http://www.kitco.com/images/live/nygold.gif)
Silver’s gap up was also abruptly stopped in it’s tracks and whacked:
![Live New York Silver Chart [ Kitco Inc. ]](http://www.kitco.com/images/live/nysilver.gif)
Notice the interesting pattern that both gold and silver have gapped to the upside at exactly the same time over the past three days, and both have received the same Whack-A-Mole treatment by the cartel each time!
![Live 24 hours gold chart [Kitco Inc.]](http://www.kitco.com/images/live/gold.gif)
and silver:
![Live 24 hours silver chart [ Kitco Inc. ]](http://www.kitco.com/images/live/silver.gif)
![[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)
Personally I am hoping that they will be able to keep up the paper manipulation for at least another year or so, because it will allow us small stackers to continue to apply dollar-cost averaging as fiat becomes avaiable and to continue to help spread the word. I am however afraid that it is going to be game over pretty soon (within this decade at least). So with this in mind: Thank you JP Morgan and Kie, I fully accept the gift of cheap gold and silver, especially silver. You folks are too generous. lol
P.S. To those of you who assume we don’t have fun stacking, you clearly don’t know what you’re talking about. We’re having a blast!!!
Did anybody else here receive this email from APMEX?
“The APMEX Physical – 1 oz. Gold Redeemable Trust intends to provide investors with access to the gold market while providing the liquidity of an exchange-traded security. A feature of the Trust is the option for the owner to redeem a minimum interest in the Trust of US$10,000 for a proportionate share of the gold coin assets of the Trust.”
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Sorry APMEX, but the word, ‘trust’ should not be in anyway connected to ‘paper Gold.’
Very funny Mammoth. CRAPMAX. The three great lies I’ll respect you in the morning. The check is in the mail. You gold is safe with us.
Whack a Mole? I prefer a shooting gallery Bankers lined up like ducks. Quack— POW
APMEX Physical – 1 oz. Gold Redeemable Trust Files Registration Statement and Preliminary Prospectus
OKLAHOMA CITY, OK. – May 22, 2012 – APMEX Precious Metals Management Services, Inc. today announced that APMEX Physical – 1 oz. Gold Redeemable Trust (the “Trust”) has filed a registration statement in the United States and a preliminary prospectus in Canada. The Trust will be managed by APMEX Precious Metals Management Services, Inc., a wholly owned subsidiary of APMEX, Inc. The Trust expects to invest in and hold substantially all of its assets in 1 oz. American Gold Eagle bullion coins and 1 oz. Canadian Gold Maple Leaf bullion coins.
The APMEX Physical – 1 oz. Gold Redeemable Trust intends to provide investors with access to the gold market while providing the liquidity of an exchange-traded security. A feature of the Trust is the option for the owner to redeem a minimum interest in the Trust of US$10,000 for a proportionate share of the gold coin assets of the Trust.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission, but has not yet become effective. A preliminary prospectus has been filed with the securities regulatory authorities in each of the provinces of Canada. The preliminary prospectus is still subject to completion or amendment. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective in the United States for sales in the United States, or a receipt has been issued for the final prospectus in Canada for sales in Canada.
Stifel, Nicolaus & Company, Incorporated is acting as Global Coordinator and U.S. Bookrunning Manager; Oppenheimer & Co. Inc. is acting as Co-Bookrunning Manager; and Lazard Capital Markets LLC is acting as Co-Lead Manager for this offering in the United States. A syndicate of Canadian dealers led by BMO Capital Markets and Stifel Nicolaus Canada Inc., and including Scotiabank, Desjardins Securities Inc., Dundee Securities Ltd., Macquarie Private Wealth Inc., Mackie Research Capital Corporation and Manulife Securities Incorporated, will act as the underwriters in Canada.
Interested parties may obtain copies of the preliminary prospectus relating to the United States offering from:
Stifel, Nicolaus & Company, Incorporated
Attention: Prospectus Department
One South Street, 15th Floor
Baltimore, MD 21202
By telephone: +1-443-224-1988, or by email at syndicateoperations@stifel.com
Interested parties may obtain copies of the preliminary prospectus relating to the Canadian offering from:
I think the bankers main intent this week – although if gauged by a sentiment index; the pro safe haven asset camp is winning by a slight margin 58% to 42% – is to make gold and silver appear as if it is the non safe haven play by smashing it on key time periods throughout the day so that europeans are forced by way of sentiment to the US Treasury. It is an excellent situation for the US Central bank to issue more debt at lower interest rates. This is all working so far but the only problem is when the Greek Drama comes to the US shores, investors will have no where else to flee but gold and silver. Hang on to the ride and keep picking up at these levels that will not stay here for long.
While I want to see the price skyrocket like we know it SHOULD someday, it’s just that for me personally… someday. the more time they give me to acumulate silver at what I still see as bargain basement prices, the happier I shall be.
That said, if it all blows up this weekend, at least I HAVE a stack. Better than all those who have nothing at all but fiat in a bank somewhere (ha!). But yah, like silverbullion says, I’m super happy if I get another few months to a year or more to keep stackin. I love looking at all those ounces piled up now. And amen to having fun while doing it, that’s the God-honest truth!
Even had a VERY interesting discussion with the pastor at church this past week, where his sermon included discussion of parable of the lost coin, and we ended up talking about oh yeah, that silver coin the woman lost would have been like one day wages (or more), so no doubt it was valuable. Funny how those things just keep coming up, and 99% of the people in that church would think I’m nuts for stacking vs putting all my paper into more paper (stocks or bonds), but they don’t question the parable or anything else the Bible says about sound month, honest weights and measures, and the evils of ursury. Cognitive dissonance at play I’m sure….
I recieved the same thing from APMEX and immediately throw it in the trash. Don’t they realize the Paper Market is going to crash? even the Gold Paper Market as their is no TRUST.