Gold & Silver Go Vertical on COMEX Open, Silver Clears $33

After being attacked shortly after the COMEX open every day last week, gold and silver have both made a vertical move to the upside on Monday’s COMEX open.

Silver has made a .55 move to the upside, popping from $32.60 where the cartel had capped it all last week, through $33 to $33.14.
Gold also has spiked vertically higher back to $1730 where it has been continually capped.

Silver’s vertical move through $33:


Silver appears to be leading gold, as silver sliced through the cartel cap at $32.60 without a pause, while gold’s advance was beaten back again as soon as $1730 was pierced to the upside.

Gold was once again knocked back at the critical $1730 level, as the cartel simply refuses to allow gold to regain $1730, as it would then likely run straight to $1800, bringing massive momentum back to the buy side, and propelling gold back to it’s all-time nominal highs near $1915.

 

Comments

  1. Funny, I’ve been watching the 24 hour spot Ag chart since 1 AM and refreshing every 1/2 hour. It is 8:45 AM now and the spike over 33$ an oz is still not showing up on the Kitco live page!

  2. I like netdania.com and thinkorswim symbol /si

  3. Interesting that the intraday top set just now was reached on low volume, the earlier one was on strong volume.

  4. I dunno…. The Dow popped 150 points, the EurUSd is up a little, Bernanko speaks tomorrow and it’s a short week.
    Some sort of hopium pop in equities with silver and WTI crude popping, too.
    Whenever they get the equities to jump they let silver run a little. Then, when the calm returns, out comes the long knives.
    So I dunno.  This feels temporary.

  5. Interesting spikelet up after London close, especially the volume. Does someone expect short-term wins there?

  6. Looking more solid now.  I hope it holds.

  7. I still say the Resistance point is $35.00 so I’m not getting excited, let’s see what happens by Wednesday night.

  8. For now, silver is sure stable at around 33.30$ per ounce. So when silver was at 35$ per ounce a few months and then it went back to its lows, it never went lower than 30$ since then! I actually was hoping that silver would go back to 27$ per ounce! :(

  9. Although we got several and lengthened $26-27 buying uppportunities this year (I want all-in at 2 of those bottoms), we do have a very strong base now to build from. Such a vast volume was traded, even for physical delivery, north of $30. And we know that miners are still in “deep” trouble above $30.

    I truly do get the impression that if “we” make a strong effort getting more people in on silver, and let the annual investment demand double once more, the shortages and rantsoming would make it to newspaper headlines. I fully intend to buy more before that time comes. But we can do it. 2012 is awakening so many people, I am also part of the 2011/2012 general awareness wave. Everything seems to accelerate, and at the same time remain stuck in mid-flight. It’s gotta give at some point, somewhere.
    If China gets the impression the comex/lbma happy hour one-tonne-per-customer sale is over, we could be in for a wild moonrocket.

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