Craig Hemke is On Guard Against the Banks taking an in-depth look at the charts for possible areas of market manipulation and precious metals price suppression of COMEX digital gold and digital silver…
Well, it’s a bit of an exaggeration, but for the first three days of this week daily turnover in the gold future fell to about 80,000 contracts, compared with a more normal level of 120,000.
At the same time volatility fell to as close to zero as you can get.
Silver is now set up for a major bear squeeze, but for the fact that both silver and gold have a recent history of weakness into quarter ends. Gold bottomed a year ago on 26th June at under $1200, and again at the same level on 30 December. It also sold off into the end of the March quarter.
No doubt this predictable price behavior has encouraged silver’s bears into a technically dangerous position.