*Update: a mini-raid began just as we were publishing this morning’s update, with silver being pushed as low as $30.48 before recovering to $30.75.
Gold and silver both popped on today’s COMEX open after trading down throughout the overnight session, with silver popping back to $31 where it spent most of Tuesday, and gold popping back nearly to $1670.
Expect the metals to remain quiet over the next 2 days as traders seem unwilling to initiate new positions prior to Bernanke’s speech Friday at Jackson Hole.
If Bernanke is indeed to disappoint Friday, expect the HFT’s to attempt to front run the cartel’s gold and silver smash and the metals to sell-off right from the COMEX open Friday.
For now, silver seems to be running out of gas near $31.
The cartel continues it’s attempts to cap gold below $1670.
After last week’s big moves, a pause this week is healthy for the overall bull moves in gold and silver, but traders should stay nimble, and stackers should be ready to STACK THE SMACK (perfect timing for this month’s 2-day Small Stacker event on Thursday and Friday at SD Bullion!) come Friday should a cartel raid materialize.
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Good Morning! Every-time Silver goes above and near $31.00 an ounce they attack it with a vengeance. I just been kicking back observing this corrupted system. Now we await Big Ben to come out with some more nonsense and so they can raid silver with bullish*t paper contracts so slam the price of Silver and Gold. We shall see what happens in a few days. Stack the fricken smack
what is it about Jackson Hole that attracts criminals? Once it was the hideout of bank robbers now it’s a hide out for robber banks. LOL
It would be Nice if all the Major Silver Holders start a Physical Silver Trading Exchange,no paper certificates ,where supply and demand control the Price..
With Independent Physical Silver & Gold Exchange Banks,where you can register , store your investments, and get Physical Metals Certs.
It would be Nice if all the Major Silver Holders start a Physical Silver Trading Exchange,no paper certificates ,where supply and demand control the Price..
1 oz rolling three day delivery and I can contribute a contract, for starters..
BTW, what ever happened to the Andy’s and Ned’s phyzz exchange?
Doc, could you make an interview with Ned and ask if there’s any progress?
check this out 7 minutes only !!!!!!!!!!!
Is this the Hole in the Wall Gang? I think we would fare better with the Hole in the Wall Gang than these con artists dressed in suits! I am selling a portion before Friday so next Tuesday I can buy it back—-much cheaper. If I miss it, nothing lost, I was needing a little more cash to buy gas!!
I’m happy that silver’s price popped so that this way, I can buy silver cheaply. I hope that it goes back to 27$ per ounce.
The schizophrenia of PM stacking! We want the price up to it’s true and fair market value and finally see what our phyzz is worth measured in counterfeit paper but, we also want the price to stay as low as possible so we can unload our counterfeit paper for more phyzz that will someday go higher and we can find our what it’s worth in counterfeit paper! If we were payed for our work in phyzz, we would already know what it is worth, no?