The character of the precious metals market has changed. The manipulation efforts using paper derivatives masquerading as gold and silver futures contracts is losing traction. I believe that the supply/demand dynamic in the physical gold and silver market is beginning to drive the price. Control over the price of the metals is likely shifting from NY/London to Moscow and Shanghai. I’ll have more to say about soon.
The News Doctor’s Eric Dubin posted commentary and analysis of the blatant paper attack on the price of gold and silver that took place about 40 minutes into the floor trading session on the Comex on Thursday morning (April 21). The initial price attack occurred in the space of about seven minutes in which $2 billion of paper gold and 1,218 tonnes of paper silver were dumped on the Comex. Over the last five years, an attack like this was usually the start of bigger systematic price-takedown of the precious metals over a period of several days. However, in the last couple of months, the market seems to shrug off these paper attacks and head higher.
“We’re setting up for an epic battle, and if silver keeps motoring forward, we may very well have an $18 handle on silver smack in the middle of the expiring contracts window. Buckle-up! There’s going to be fireworks, one way or another” – Eric Dubin, The News Doctors You can read the rest of Eric’s commentary here: The Precious Metals Bull
The Masters of Universe finally losing control.
They can print money but they can’t print gold and silver.
I see (I’m in Australia but it’s 1:30 PM EST American Time) that on Friday April 22 from around 10 AM to 1 PM EST, there was an extremely masturbatory attack on notional (derivative) gold and silver, by chronic and pathological masturbators employed by several banks…
…all of whose approximately 25 year old flunkies who have been ordered to pull the triggers to f-ck around with silver and gold derivatives, I presently imagine this way: https://www.youtube.com/watch?v=ns2ILhL9btY
There always is in Australia. Something like 95% of the time when the Globex system opens, silver gets hit.