silver smashFollowing Monday’s $1.3 billion paper gold dump on the COMEX open, the cartel has hit gold and silver again Tuesday, and has finally succeeded (for now) in driving spot gold back under the critical $1300 level- but it took twice the amount of paper used yesterday, as an astonishing $2.3 BILLION in gold futures were just dumped on the market. 


Gold held above $1300 throughout Monday’s trading, but has been slammed back under the support level on the back of the massive 17,000 contract ($2.3 billion) paper futures dump: 



After climbing throughout the overnight Asian and London sessions and trading back above $21, silver has also been hit and dropped back to a $20 handle: 


Look for support in the $1275-$1280 level in gold, and $20.50 in silver, as we are seeing BIG MONEY enter the physical market in a BIG way at SDBullion on this opportune pull-back. 


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  1. ok some believe that the smack downs are about to end, because it is costing more and more.  But do not they make money because they are betting short?   Anyone have any numbers about how much it costs them if they lose 2 billion in a smack down, or if they actually come out ahead?  

  2. I suppose the end game is up to the American people, and when they fold and realize wow silver that is good stuff (I promise it is the shiniest metal!)!   I like the illustration that the economy is like an avalanche that is about to fall.   I am revising that illustration.  The economy is snow or the American people (maybe the whole world) piled up incredibly high on a mountaintop and ready to fall.  When will the fall occur?  When the government starves enough of us so that we relax our grip on the U.S. dollar.   Avalanches are seasonal and the sheep cannot keep the energy to hold on forever – I see the avalanche starting already, some here some over there, and by the end of the year   pow…. to the moon Alice!        

  3. I heard Dennis Gartman on CNBC saying that these smackdowns are essentially a figment of the gold bug’s imagination. He said that this was nothing more than simple profit taking. When I hear statements like that it really makes me wonder if guys like Gartman are simply misinformed or if they are part of the disinformation campaign aimed at the public. How the dumping of such a massive amount of paper contracts during periods of time when the market is not very liquid can be viewed as profit taking is beyond me yet this is the story that Gartman and others are sticking to. That’s really quite amazing for a man that supposedly manages billions of dollars of other people’s money.   

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