Gold & Silver Shake Off Early Smackdown, Go Vertical

beach ballGold and silver have shaken off their early morning raids with a vertical pop, with silver clearing $29 to $29.25, and gold up $10 to $1586, where the move was promptly capped near the $1585 level once again.

 

Silver reverses COMEX open smash to $28.80, and after a brief consolidation burst through $29 to $29.25:

silver

 

Gold reverses COMEX open smash, but thus far unable to clear cartel cap at $1585:

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Comments

  1. back under 29. I hope all the corrupt officials, banksters and regulators get raped by a bull elephant.

  2. At some point, the paper shorts won’t be able to override the fundamentals of “supply & demand” of the physical…at which point the vertical rise will be quick and massive! Hopefully, the losses for JPM will be in the billion$$$. Jamie Dimon needs to eat his “shorts”!!!!!

    • If I had an ounce of silver for everytime this has been said, I’d be retired, even at these garbage prices.

    • True! It’s just a matter of time. I think JP Morgan will be losing in the billions or even in the trillions during a hyper inflationary scenario when the dollar crashes. 

  3. HERE WE GO AGAIN WITH THE VERTICAL TALK AND IMMINENT SPIKE. THEY ARE NOT DONE WITH THESE METALS YET. THEY WILL PUSH THEM DOWN EVEN FURTHER IN THE COMING WEEKS. PERCEPTION IS REALITY SOMETIMES AND THEY CAN MANAGE PERCEPTION FOR AN EXTENDED PERIOD OF TIME.

  4. This little price movement doesn’t mean anything.  We gotta continue to be patient.  We are going to get a real price spike eventually that is going to get us out of this sideways trading mess.  Might have to go lower first.  Its all smoke and mirrors for the moment.  The banks are just biding their time.  They will pounce again when they feel the time is right.

  5. Okay, I am viewing multiple news stations across the nation. They are all asking the same questions? Why is the stock market going up with everyone is hurting. The regular person is truly screwed and those in power are making out. So one of the financial guru’s in Hawaii basically stated and don’t quote me. Until these little guys like “Best buy” goes up this pretty much tells you about the economic state. 
    In a nutshell…Wall-Street is Bullsh*t

    • “I am viewing multiple news stations across the nation. They are all asking the same questions?”
      I don’t even know if we are talking about this here in Canada on the mainstream medias. Why? Because I don’t watch the television! The people who are awaken knows what is mainly happening in the stock market.

  6. and down we go again. so predictable

  7. There’s plenty of hurt to go around. We, the people, are getting a double dose of it and from just about every direction. Wall Street is the only place that isn’t . Maybe if you trade for a few more months you can rake of profits but WS will feel the effect of what is happening in this country and it is not positive.

    • Virtually all of the shenanigans performed by Bernanke over the past 3 years have been done specifically so that Wall Street will NOT feel the same pain as the rest of the country.  They are the last vestige of the old days remaining.  When they do come into it, it will be the last flailing of the dying paper paradigm.  Like the UK collapse, this too will be one of the final trip-wire warnings of a complete economic collapse here in the US.

  8. Well, rollercoaster back up over 29… for the minute..

  9. Mining shares really turned around today and shot up.  That means gold and silver are headed higher.

  10. Pump and setup for a friday or Monday dump, I think friday

  11. Now silver is at about 28.90$ per ounce which is really close to 29$ per ounce. Because of that, I think silver will pass 29$ per ounce pretty soon, especially with inflation. Silver is holding at the 28.80$ per ounce level so it should be going up soon.

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