*Update: 2nd wave of smash in progress, silver to $31.25
Last week, we wondered aloud whether the recent chart glitches in gold and silver were in fact the cartel telegraphing upcoming gold and silver raid targets to their friends. At the time, gold had already subsequently achieved the raid target of $1699, but silver was still nearly a dollar north of the glitch raid target of $31.80.
After trading in a tight range with minimal volatility throughout the overnight session and early in Tuesday’s COMEX session, gold & silver have just been sent over the HFT Niagra Falls, with gold smashed to $1675, and silver smashed nearly $1 to $31.50. Nearly 3 weeks later, the cartel has achieved and surpassed it’s chart glitch telegraphed silver target of $31.80.
Naturally, today’s gold and silver raids occurred just after the afternoon London fix was set, preventing any physical buyers in London from taking advantage of the manipulative smash.
Silver’s flash crash to $31.25:
And the Nov 26th chart glitch foretelling the upcoming cartel actions:
Gold hammered to $1675:
While they still have a ways to go, it is conceivable that the cartel is attempting to paint a 2nd consecutive negative annual close in silver, and the first negative annual return for gold in the entire bull market. While it must currently be considered unlikely the cartel achieves these lofty goals, we wouldn’t put it past them to attempt the feat, particularly with minimal volume over the next 2 holiday weeks.