gold market tipping

In today’s trading, for the umpteenth time, gold surpassed the $1200 mark only to be repelled back.
Gold’s zenith was $1212.00 set at 5 am early this morning and its nadir at $1193.50 at 11 am (well after London’s second fix).
I strongly believe that gold at 1200 is very toxic to our bankers with the huge number of derivatives and forwards placed.

silver smash

The banksters obliterated gold and silver today as Russia announced an emergency rate hike of 650 basis points, raising rates on the Ruble from 10.5% to 17%, sending the USD plunging vs the RUB! 
Let’s head immediately to see the major data points for today:

fireworks

After a fierce run up to over $17.00 yesterday, the bankers in the Asian time zone knocked silver down to $17.00 at midnight.  By 3 am (London’s first fix) it jumped to $17.30, its zenith for the day and only 30 cents away from the magical $17.60 breakaway point for silver. 
The bankers then used excessive force knocking silver all the way back to $16.98 by 9:20 am this morning.  Not to be undone, and looking at the bleak financial scene gave incentive to our silver bulls to attack once more and drove silver up to $17.17 by London’s second fix.
Expect fireworks in both metals tomorrow!

images

In silver, the open interest fell by a small 823 contracts with yesterday’s rise in price of  $0.02.  Looks like some of the shorts are vacating the arena.
For the past year, we have been witnessing massive liquidation of contracts despite the fact that it cost nothing to roll.  This makes no sense and it smacks of cash settlements which are totally illegal.
Since I have been following comex data, I have never witnessed such a massive liquidation in both gold and silver. 

bottom of the barrel

All GOFO rates moved closer to the positive and out of backwardation today- the bankers must have found a few bars to lease.  On the 22nd of September the LBMA stated that they will not publish GOFO rates.
It looks to me like these rates even though negative are still fully manipulated. London good delivery bars are still quite scarce.
The backwardation in gold is incompatible with the raid on gold. It does not make any economic sense.
Let’s head immediately to see the major data points for today:

bankster manipulation

Gold straddled the 1206 dollar mark at midnight as the bankers were adamant to suppress the price having sent the signal to the boys earlier via  silver yesterday.
By 3 am (London first fix) gold traded at $1203.00. Gold hovered at these lower values and hit its nadir at $1202 at 5 am.  By 9 am (news from the ECB of non action) saw gold shoot up to $1213.  However the suppression scheme was still on and gold was knocked down to close at $1207.50 at the comex closing time and $1205.50 at the access closing time.
Let’s head immediately to see the major data points for today:

cartel raid

Gold straddled the 1200 dollar mark at midnight as the bankers were adamant to not let gold pass this important mark in the sand.  Obviously the bankers have huge toxic derivatives underwritten at these levels.
However by 3 am (London first fix) gold traded at $1208.40.  Then immediately the bankers went to work knocking the metal back down to exactly 1200 dollars again.  It then rose to $1213.00 by the 2nd London fix at 10 am and then it settled as indicated above (comex closing and access market close).
Silver was much more volatile and the bankers were intent on knocking this precious metal down despite gold being higher.
This is a signal that an attack will be coming forth tomorrow.

HarveyOrgan

 

Gold was hit immediately in yesterday’s access market due to the fact that the banking cartel never allow gold to rise for two consecutive daysThe other goal was to keep gold below $1200.00.  It is my belief that above that level it is very toxic to the bankers due to the huge derivatives placed on gold to keep it suppressed.
Gold hit it’s zenith at  2 am (first London fix) with a price of $1209.00  From there it was downhill.
Let’s head immediately to see the major data points for today: