$1,000,000,000 Pre-Market Raid In Gold Fails While Bitcoin Is Plummeting (Once Again)

Time to see how resilient the metals are in the last two trading days of the year. Grab some popcorn (or some Pepto)…

At 8:12 a.m. EST, we witnessed a mini raid in gold and silver:

The total amount of the paper price smash in gold was just over $1,000,000,000.

Granted, after both gold and silver rose in price in overnight trading, all the cartel was able to muster with this smash was a round trip to “unch” from yesterday’s close:

In addition to coming in during the pre-market, and in addition to blasting the sell button when there is light volume, what is one clue you can look at to understand it is a price attack and not some “price discovery”?

Even though the metals are “down”, the dollar is falling hard:

In other words, if the metals are dropping, the dollar should be rising, but since dollar is not only falling, but falling hard (50+ basis points since yesterday), the action in gold and silver is not normal.

And as such, we can see that the prices have already recovered:

But we’re not sure if that’s the end or just the beginning.

In other market news, Bitcoin is down approximately $2,000 peak to trough:

Which in market terms, at over 12%, Bitcoin has again entered a “correction”.

Stack accordingly…

– Half Dollar


About the Author

U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.

Paul’s free book Gold & Silver 2.0: Tales from the Crypto can be found in the usual places like Amazon, Apple iBooks & Google Play, or online at PaulEberhart.com. Paul’s Twitter is @Paul_Eberhart.