Our friend TF from TFMetalsReport.com has released an excellent update this afternoon regarding the persistent cartel capping we have been seeing near $1780 in gold, and $$34.50-$35 in silver over the past 3 weeks.
TF states the cartel’s effort to keep gold under $1800 (and subsequently preventing a gap up to the nominal high near $1915) and silver under $35 (and subsequently preventing a gap up in silver to $37.50) is ‘about to blow up in their faces‘.
TF states the price capping of gold and silver has become desperate as once $1800 is taken out in gold, Paper price is extremely vulnerable to a quick, $100+ move but the banks can’t jack the price lower because of the continuing, robust demand for physical in London
TF absolutely nails the current gold and silver price action, as both metals are getting ready to explode once the cartel caps are breached.
From TF:
What The Cartel doesn’t seem to grasp is this basic rule: “When you find yourself in a hole, the first thing you do is stop digging“. The stupid, arrogant jerks just won’t give up. QE∞ has long been predicted by The Turd, Santa et al, it was formally announced by The Bernank three weeks ago and it was confirmed beyond a shadow of a doubt just yesterday by Fed Goon Evans. Nevertheless, they just keep issuing paper metal at a frantic pace in a desperate attempt to cap price and contain it below $1780 and, ultimately, $1800. Why are these levels worth defending, you ask? Here’s a reminder:
And so, for the third consecutive day, we have seen aggressive capping of price at, or just above, $1780. Again I’ll use the word “desperate“. No doubt about it. There is some serious panic setting in. Paper price is extremely vulnerable to a quick, $100+ move but the banks can’t jack the price lower because of the continuing, robust demand for physical in London. What to do, what to do? Desperation, indeed.
And so then you get a day like today. The metals were unusually strong in the pre-open and looked poised to catapult higher once the Comex was up and running. Paper metal was thus gathered and dumped right at the 8:25 silver Comex open. Note all of the big, blue candles on the charts below indicative of direct attempts to keep the pressure on and rein in price.
But here’s the thing: They are almost of of time. The window is closing. You can clearly see it in the charts below. The trend is higher and once their little defense line runs into it (by Friday?), price will almost assuredly burst higher. Perhaps the BLSBS data on Friday will provide the impetus? Who knows? All I know is that this 3-week effort to cap price is about to blow up in their faces.
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_silv.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_gold.gif)
This is gonna be good..
i wish this would happen soon,, as i want to see higher prices,, and at the same time,, i still want the price to be lower that $35 so i can stack more,, so what should i do.. just keep buying every month no matter what the price is? or i should stop once it hits 40?
I don’t think you will regret anything under $100 in 20 years..
edit: unless the renegades off you during the lawless period after the collapse because they find out about your silver wealth..
you keep buying whatever.
Will you regret buying at $50.00 when silver is $300.00?
Any buy point on the Rhino horn of price increase will be a good point to enter. If your silver buy point base price was $28-40 an ounce then any purchase beyond that which rides the upward momentum gives you a point for potential profit extraction.
You will be playing with house money once silver hits $45. The price existing at your selling time period will speak for itself.
All assets have bubbles so guage at what price you will sell to convert to another asset of good quality
I could use higher prices, going to trade 4 oz for 45acp lead
I think silver will be priced in the hundreds of dollars in the not to distant future so I think the dollar-cost-averaging method of investing is still a very good approach to buying silver. What else are you going to do with your paper tickets anyways?
I’ve been wondering if these sharp spikes are ‘tests’ conducted by the bullion ‘banks’ to confirm what the extent of ‘buy stops’ are. We know they have the inside line on nearly all of those orders domestically, but these ‘tests’ could be to get a handle on what foreign order parameters are.
Good point Pat.
Six months ago, the cartel were able to crush silver’s price by 2$ or more and then they were able to keep the low price which was 27$ per ounce long enough, at least for 10 months. It took them 1/3 of the USA annual physical silver production in paper silver. Now, it took them three times the annual USA physical silver production in paper silver to crush silver’s price by only 1$ and then, silver went back up but even higher then before.
It looks like that the cartel are losing power!
Don’t let the price differences fool you. They don’t have to throw tons of paper to do the job. They can change the rules, legislate, and enact court rulings to get the desired results. This organization is like the Medusa.
Actually the price is about to go down. I have sold in order to repurchase in mid November.
By the way, the cartel has not even broke a sweat yet. Don’t make them mad, they own the politicians, the banks, and the courts. And soon they’ll own enough silver that THEN they will let it ride so they can enjoy the trip like the rest of us. Remember, these people are not stupid.