Beatdown Continues: Silver Breaks $29, Gold Under $1590

imagesThe beatdown in the gold and silver markets continued overnight and early in COMEX trading Wednesday ahead of this afternoon’s release of the latest Fed meeting minutes at 2pm EST.   Silver has broken below $29 to $28.81, and gold is back under $1600, down another $15 to $1586.

*Update: and vertical drop now in progress!


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Silver began selling off immediately upon London’s open, and another decline began on this morning’s COMEX open:

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silver

 

Vertical free-fall now in progress:

silver

Gold was dropped down a mine-shaft back below $1600, and has been pushed as far down as $1589:

gold

 

gold
A possibility exists for a capitulation low/ cartel raid coinciding with the Fed minutes release at 2pm EST, so be prepared to stack the smack!