fill and killGold and silver have been smashed below support at $1250 and $19 this morning on a classic post-FOMC day raid.
Gold has been smashed $30 to $1237, and silver is down nearly $1 from Wednesday’s trading with a low of $18.93 before bouncing back above $19.

 

Doc’s Deal of the Day:
100 oz JM Silver Bars Only 79 Cents/oz Over Spot, ANY QTY!!

 

Gold smashed back under $1250:


It appears that the cartel is unable to hold silver below $19 as the metal quickly bounced back to $19.20:


If previous FOMC take-downs are any indication, gold & silver will bottom Thursday morning, and recover throughout the afternoon and throughout the day Friday.

While support at $1250 and $19 have been breached, both gold and silver are still well off their correction lows of $1178 and $18. 
We suspect this morning may prove one of the best entry points for physical gold and silver in the near future. 

 

1 oz Silver Buffalo Rounds Only 89 Cents Over Spot, ANY QTY
*While Supplies Last!

  1. Did an early morning raid myself and snatched a Canuk Maple as well as a roll of BU Roosevelt Dimes from Provident (free shipping) when silver spiked down to $19.04.

    Marchas45 would be proud.

    Who says that you can’t time the market?  Well maybe not – but even a blind squirrel finds a nut every now and then…

    • We’ve all been waiting for the black swans to show up but none of us considered SWAN dives, especially by bankers!  ;-)
       
      Maybe it’s just me but all these banker suicides do not point to a group with a winning strategy.
       

    • @Wendy , actually these birds dine on pigeons!
      Here is a better photo I made here 2 years back.
      (I wonder if this is the same eagle?)
       
      Oh – and BTW this is at an industrial facility which has a very vocal local opposition, who claims we are poisoning the environment.

    • Good pick, Woolly.  No eagles at my former company but we did have 2 nesting pairs of ospreys… and some people dirty their drawers over the idea of people infringing on their “natural” habitat.  The ospreys CHOSE to nest in our facility, even though it was a chemical plant!  Rather than have them try to nest amongst the power lines, the company put up a couple of small wooden platforms and the birds quickly built their nests on them.
       
      Below is a pic of what these birds looked like, even those these are not the same ones we had as neighbors.

  2. The end of the comex is very near an when the stock market tanks its all over. They will default than an gold an silver prices will be locked into oblivion forevers. An the banks will start to have excessive runs. And this will only mean cash will be king of the street unless your looking down a barrel of a gun an food will be 3rd.

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