Cartel Raid in Progress As Gold & Silver Plunge

The cartel has just launched a major raid on gold and silver the morning after gold’s December options expiration, with gold smashed to $1710, and silver down nearly a dollar to $33.13.

*Update: 2nd wave in progress, silver smashed to $32.83, gold to $1704

 

Silver’s COMEX open swan dive:

 

Gold’s plunge was even more abrupt, with gold losing nearly $30 in moments:

 

With raids of this magnitude, the cartel will typically attempt to trigger a second cascade of sell stops and initiate a 2nd raid.   Look for a 2nd raid to attempt to stuff gold back below $1700, and silver under the critical $32.60 resistance.   While they may touch these levels during a raid, physical buying is so strong in London and Asia that the cartel has little chance for success at keeping gold and silver under the critical levels.

 

*Update: as predicted, 2nd wave in progress