The attacks have begun, and we haven’t even made it to the 8:30 “selling”. There are many reasons the smashing could continue, but only for a short while…
Gold & silver have come under pressure, and they’re now being hit even harder.
There are a lot of reasons for the cartel to hit gold & silver prices right now.
Including, but not limited to:
- Trying to prevent a flight to safety into gold & silver with continued stock market turmoil.
- Lots of reasons to sell, right now, before 8:30 a.m.
Those reasons are best shown with this snippet from econoday:
It’s “prep-work” for the 8:30 events and releases, and that isn’t even all of the important events on the calendar for today either.
Additionally, there is the increasing trade war tension, there is the escalating geo-political tension, especially as it pertains to the Middle East and Iran, both of which are fundamentally gold & silver bullish, and that is all the more reason to smash price from the cartel’s point-of-view.
To not draw attention to the only true safe havens out there – gold & silver.
Here’s a look at the “selling” this morning:
I’d be looking for additional pressure, especially this morning.
OK, “Hey Half Dollar, you idiot, this is all because of the US dollar!”.
Go on believing that.
But I don’t see it:
Then again, my vision’s not that good, so maybe you could point out the DXY spike?
What’s the bottom line this beautiful Thursday morning in May?
Gold & silver are getting hit, and that means to get ready.
‘Cause I don’t the think the downward pressure lasts.
In fact, I’d be looking for recovery even today.
Gold & silver are down year-to-date.
So this isn’t “profit taking” either.
Or other apologist excuses.
This is just a price hit.
Price is already low.
Now, even lower.
Eyes on target.
– 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.