After 2 Week Olympic Hiatus, Cartel Back to COMEX Open Raids

After a 2 week vacation apparently while the cartel visited their bankster friends in London for the Olympics which saw gold and silver routinely pop on the NY COMEX open, the cartel is back to their standard operating procedure this morning.
Silver slowly consolidated over night from $28 to $27.80, saw a brief rally just prior to the open, and was then immediately smashed on the COMEX open from $28 to $27.56!
The good news is that massive buying is now coming into the market on any dip near $27.50, where several weeks ago the level was $26.50.  This is very encouraging and indicates those waiting on the sidelines for a dip are fearful of missing the upcoming rally.

 

 

Gold’s smash was even more blatant, as the cartel succeeded in not only knocking gold away from it’s massive cap at $1620, but all the way through $1600 to $1595!
Gold has already just regained the $1600 level as we type, and it is crucial it is able to maintain the level through today’s close.
Also remember that today is the end of the weekly COT report, and the cartel typically attempts to paint its books just prior to the weekly cut-off.

Comments

  1. The manipulators are people too.  The junior appenctices did just fine while the senior staff was at the ZIONIST event.      /sarc off

  2. The raids are getting weaker and cannot overpower the upward trend any more! The metals have been so OVER played while being gobbled up globally. This train can’t be stopped now…..
     
    Hi ho Silver..away!

  3. The ‘Cartel’ is out to ‘prove’ GATA’s Bill Murphy wrong about a major surge in precious metals prices in August 2012.  There are 17 more days left to see who wins this battle.
    BTW, we all know who wins the ‘war’.  Throughout all of recorded history, not a single fiat currency (‘fiat money’) system has stood the test of time.  Man’s desire for Freedom and ‘Fiat Money’ are utterly incompatible.

  4. They attempted the take down. Yet! Both have surged back upward!!! Keep stacking your metals and make plans to move to a state and or country that will have plenty of land and or shelter. Get out of those big cities like New York, Los Angeles, Atlanta etc.. It will get ugly. Seems that the Administration is giving DHS the authority to take over the internet.  What make DHS any better than the KGB? Anyone

  5. Yeah big raid right now.  Silver punched down to 27.5, and Gold back down to 1590′s.  The 1600′s are a real testing area for Gold.

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