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.