Buy Gold at 1643
Use 1633 as a stop loss
Use 1633 as a stop loss
Gold and silver were slammed friday right ahead of the US jobs report, as you know, Both precious metals made up the gains that were lost for no apparent reason.
They were made after a secondary surge, which took gold up to $1682 and silver to $32.16. Both were then held in check, and then went into déjà vu all over again mode. After some other US economic reports came out, gold was clocked for $20 yet again off its high of the day. It went straight down. Silver was bombed for about 70 cents. Both then recovered somewhat in a wild day of trading.
The Gold Cartel has truly gone hysterical with their blatant waterfall bombings. What the heck is really wrong behind the scenes for them to be so petrified of gold and silver prices going higher? Their frantic nature is off the charts over the top. It is so easy to identify the cabal forces at work here because the only markets to react to US economic numbers, or reports, in a meaningful, negative way are gold and silver. When those US reports were released this morning, the euro barely budged. If the US numbers were that constructive, an oversold dollar would have surged. Did not happen.
Simplistic overview thoughts…
*The US economy has been very troubled.
*The Fed goes to additional stimulation with QE 3 and 4, with no end in sight.
*Japan follows suit with massive QE measures.
*Don’t fight the Fed holds true re the US stock market with certain indices making all-time highs and the DOW taking out 14,000 this morning.
*The yen falls apart, as it should as a result of the extraordinary Japanese stimulative efforts.
*The euro continues to move higher and higher, as it should with the Fed going into overdrive with its money printing.
*But gold gets taken to the cleaners with constant waterfall attacks, and the price of silver is not allowed to have any traction on the upside. What the dingbats in the mainstream gold world don’t get here about market manipulation is almost beyond comprehension. Their market analysis is beyond contempt.
*After substantial corrections, gold and silver are going up and down in volatile Yo-Yo fashion. This suggests the correction on the downside for both precious metals is coming to an end.
*Gold and silver are trading like rubber balls being held under the water. Their prices are way too low, way too artificially cheap. The Gold Cartel sells, and the Chinese, among others, buy.
*Physical market demand is too strong for this nonsense to go on much longer. The Gold Cartel will be overpowered soon.
Commitment of Traders Report
Gold
*The large specs reduced their long positions by 14,692 contracts and increased their shorts by 10,257 contracts.
*The commercials increased their long positions by 6,728 contracts and reduced their shorts by 22,125 contracts.
*The small specs decreased their longs by 2,546 contracts and increased their shorts by 1,358 contracts.
Interesting. This confirms that the raid on the precious metals is knocking spec gold longs out of the box, which is why the open interest is collapsing.
YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
