Deja vu all over again as the cartel just dropped the hammer on gold and silver once again, with silver slammed $1 to $33.30, and gold down $17 to $1709.

The bullion banks are clearly desperate to prevent weekly closes above $1730 in gold, and $34 in silver. 

Have you stacked the smack??

 

Silver’s waterfall decline through $34 to $33.30:

 

Gold’s smash to $1709:

As our friend Turd from TFMetals points out- today’s take down appears to be an attempt to paint a red candle on gold’s monthly chart, as the metal closed 10/31/12 at $1717.50.

Also, today is first notice day for December delivery.  PM aficionados will recall that the Feb 29th Leap Day Massacre was also on a first notice day for March delivery.

Silver has already retraced nearly 50% of the smash, with a last of $33.80 (and back above the crucial cartel $33.60 cap), and gold has also retraced nearly 50% of its losses, popping back to $1718.

Expect both metals to rally in this afternoon’s access market, in order to prevent retail stackers from taking advantage of the sale at their LCS over the weekend.

  1. Crikey, this is a big one, the volume of paper dumped is ridiculous. I won’t bother with the numbers, but it’s ridiculous.
    They shook out most of the longs yesterday and now the punishment is upon us.  Too bad the Powerball went to someone else, I would have beat them over the head with it. ;)

  2. It’s like being stranded on a desert island, every day watching the horizon, seeing basically nothing, but each day it looks like something until you look back over the years. But next day is the same, and the next. Cue Robinson Crusoe music.
     
    Ahh just kiddin’, I’m a believer :|

  3. These overstated change figures ($1, really) are getting a bit old, and I’ve just enlisted here a little while ago.
    If you look on Netdania rather than Pittco, it’s much less dramatic. Thebulliondesk also.
    Kitco seem to set their own price quote as suits them. In slow trade they are well high, in volatile trade, offering themselves some nice margin.

  4. These guys keep playing their BS paper games and they are gonna get the silver hammer to the forehead as Mr Leeb calls it.
    Friday and its pay day time to stack.Price does not matter anymore boys and girls its how many ounces you have.Give them back their paper.
    Have a good weekend stackers.
     

  5. Today(Fri. Nov 30) is First Notice Day.  Blythe and company M.O. used to hit the gold/silver price before Options Expiry(that was this last Wed. Nov 28).  However, in recent months their M.O. has changed to smashing the price on or before First Notice Day.  Gold and Silver will resume their ascent next week.

    • Perhaps maybe this is a sign the cartel’s gold and silver’s manipulations are soon ending because they are getting more and more useless as we move on. One year ago, the smashes were able to crush silver’s price even more but now, it’s not the same.

  6. I have been a litlle worried on sd.com for all the links posted on the blog
    I come to silverdoctors every day, because i love to see the docs opinion on things going on. SRS roccos articles i like too but …im here to read your comments, i love it. Not so much the links to other sites, theres planty of them out there.
    Keep it going. Peace and Love for you all.
    Greetings from Scandinavia

  7. I wouldnt be surprised if it is knocked back down to $30 before next fridays nonfarm payroll report. I expect Novembers Nonfarm to be absolutly abysmal, because of Hurricane Sandy, Hostees, and other after election layoffs. I believe this and the Debt Ceiling crisis will finally send Silver past its year long $35 resistance by Jan 1st.

    • “I wouldnt be surprised if it is knocked back down to $30 before next fridays nonfarm payroll report.”
       
      If they do, the singing you will hear in the background will be be me doing hallelujahs and hosannas as I back up the truck for a nice pair of monster boxes.  :-D
       
      What’s another name for “price smash”?  That would be… gift.  When someone offers free money or cut rate phyzz, take it! ;-)
       

    • LOL, StackerX… agreed!  Sweet music it will be too.  :-D

      All those others out there who have no PMs will be singing too… the blues.  ;-) 
       

    • Not this time. I don’t think that silver’s price will be lower than 30$ per ounce again. Because if you draw a line from the 2008 low price to the recent 2012 low price which was 27$ on the chart, you’ll see that silver never went lower than that line and it is guaranteed that silver will continue to go up. That line represents the amount it cost to mine an ounce of silver.

    • I’m also glad! The lower, the better! The lowest price that silver can reach right now is 30$ per ounce and it can’t go lower than that because that 30$ represents the amount it costs to mine an ounce of silver.

  8. Yup.  All markets pretty much boring today except gold and silver getting slammed like the congress just balanced the budget.  I wonder about the Chinese being involved with the manipulation game here in gold and silver.  They preach Honesty and behead bankers for cheating people, but no comments come from China about participating in a corrupt manipulated gold and silver market.  I know their people are being ripped off when they play with the COMEX and LBMA, so I guess they are probably in on it too. 

    • Much like the Ex-Presidents club, bankers all know they hang together or they hang separately.
      I think the Chinese are in. Low prices or they dump their treasuries…
      Take the silver and gold, leave us our paper rackets.  A dumb policy, very short-sighted on our banker’s parts.

  9. Just keep pushing and naked shorting the PM’s Boyz because when this blows up in your face we the people are going to be watching you swinging from the gallows pole.

    Hangman, hangman, hold it a little while,
    I Think I see my friends coming, Riding a many mile.
    Friends, you get some silver?
    Did you get a little gold?
    What did you bring me, my dear friends? Keep me from the Gallows Pole.
    What did you bring me to keep me from the Gallows Pole?

    • Virgil Caine is the name, and I served on the Danville train,
      Til Stonemans cavalry came and tore up the tracks again.
      In the winter of 65, we were hungry, just barely alive.
      By May the tenth, Richmond had fell, it’s a time I remember, oh so well,

      (chorus)
      The night they drove old Dixie down, and the bells were ringing,
      The night they drove old Dixie down, and the people were singin. They went
      La, la, la, la, la, la, la, la, la, la, la, la, la, la,

      Back with my wife in Tennessee, when one day she called to me,
      Virgil, quick, come see, there goes Robert E. Lee!
      Now I don’t mind choppin’ wood, and I don’t care if the money’s no good.
      Ya take what ya need and ya leave the rest,

      But they should never have taken the very best. (chorus)

      Like my father before me, I will work the land,
      Like my brother above me, who took a rebel stand.
      He was just eighteen, proud and brave, but a Yankee laid him in his grave,
      I swear by the mud below my feet,
      You can’t raise a Caine back up when he’s in defeat.
       

  10. I think the relevant question is which comes first the silver shortage, or the dollar dive? I’m pretty sure one is going to cause the other. On the lighter side, I wanted to add that Groundhog day and The Life Aquatic are both excellent movies. Two of my favorite movies of all time, and I’m not even that big of a Bill Murray fan.

    • I think the dollar dive will happen first because if there is a physical silver shortage, then I’m sure that a lot of people would sell their silver just like during the 1980′s when the Hunt Brothers’ raised silver’s price by 50$ per ounce.

  11. As the Big Bad Wolf huffed and puffed outside, the little Piggies snorted in gleeful chuckles as they’d safely buried all their silver and gold in many plots throughout the deep woods which only they knew of. At length the wheezing old cur turned in frustration and the Piggies danced and sang …

    Who’s afraid of the Big Bad Wolf, the Big Bad Wolf, the Big Bad Wolf, tra la la la la …  

  12. Too bad for the cartel that even with these prices smashes in silver and gold, the stock market is still acting like a zombie.  Conventional wisdom is that gold and silver (and commodities in general) move opposite of the stock market, but these days nothing can be done to revive stocks (not even money printing!).

    So, this is done to psychologically scare people away from silver and gold (and especially silver), but it only ends up being an opportunity for people everywhere, including in Asia, to acquire silver and gold at discounted prices.  And the Asians have a reputation for buying things ON SALE.
     
    At this point, lower prices only mean more silver and gold will be bought up and held privately away from the market.  This is a lose-lose situation for the cartel:
    Higher prices = no confidence in paper currencies, fiat money collapses.
    Lower prices = more metal goes into ‘hiding’, less supply, higher prices… no confidence in paper currencies, fiat money collapses.
     
    Either way, the end result is the same: The end of the debt-based fiat money paradigm.

    • Fiat isn’t money! Money preserves our purchasing power and its value comes in a natural way. While fiat doesn’t preserve our purchasing power and they are created out of thin air. Gold and silver are both the true money of the universe.

  13. All I look at is the Ag and Cu close at the end of the day and only to be informed.  I buy when I can, at whatever the going price is. The price at any given time is completely meaningless as far as I am concerned. 

  14. Another pattern of price suppression, besides the smashes on Fridays, is the pushing of lower prices in silver and gold, and related mining shares, at the end of the month.  This is so that, when people who don’t pay attention to daily price movements get their end-of-month statements, the performance of their investments is held in check.  This is another psychological way to discourage additional investment in gold and silver.
     
    So, now the pattern is clear: lower prices on Fridays, and lower prices at the end of the month.  But year after year gold has been higher, and silver, though more volatile, has outperformed gold during this secular bull market.  In the 1970s-80, they succeeded in reversing the price ascent of gold and silver by artificially raising deposit interest rates to 20%+.  Today, something similar has no way of taking place due to the exponential growth in debt to the point of debt saturation.  Once people understand this, they will understand why the pattern of price drops after 1980 could never take place this time around.  But it is understandable that there are many people who are fearful because of those historical events.

    • “So, now the pattern is clear: lower prices on Fridays, and lower prices at the end of the month.”

      So… if a month ends on a Friday, BUY! BUY! BUY!  :-)
       
      That will happen next in May of 2013… be ready, stackers.
       

    • In just ten years from now which was gold and silver’s bull run, a lot of stuff happened. I’m sure that in the future, gold and silver will go higher.

    • You andd I can make leveraged bets on silver. Banks do the same. So they spend $1bln to manipulate the price down, and make $10bln in the invisible shadow banking side. It’s the perfect crime.

  15. I wonder if releasing Blythe phone number (she must have gotten some doozies messages) resulted in this drop.  Who knows. Maybe if someone called her and whispered sweet nothings in her ear if she would kick the price up.  Whores are whores.  Just sayin’

  16. Thanks to this smack-down, I was able to buy a 90% gold piece that weighs 2.0833 grams. The dealer wanted to sell it for 115$ but due to the smack, he offered it for me for 110$. Now, silver is at 33.15$ per ounce which is kinda a good stacking opportunity.

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