SD Midweek Update: The cartel must be embarrassed with what happened yesterday, but it sure looks like they can’t smash price right now…
What a weird week this is turning out to be.
Gold & silver were hit hard yesterday.
Mostly traders are saying this is because of the delay by the Trump Administration in placing previously announced tariffs on China.
President Trump can announce progress, delay, postpone, back-off, back-down or whatever you want to call it when it comes to the trade war and gold & silver prices can go up just the same.
Because all markets are manipulated, pretty much all the time.
But don’t take ‘Ol Half Dollar’s word for it, read for yourself on the US Treasury Department’s own website:
The sheeple who do not understand this will simply be wiped out when the Deep State Globalists bring economic misery and financial ruin to the United States.
OK, “Hey Half Dollar, you gonna back-up that trade-war-effect-on-gold-&-silver-prices claim there Mr Smarty Pants?”.
Here’s one example:
Seems like backing-down to me.
And the resulting move in gold & silver?
Well, a pounding of course, and a gap-down to start the week:
But the very next day, the “market” fully recovered.
You see, it doesn’t matter the market or economic news.
If the cartel can smash, the cartel will smash.
If the cartel can’t smash, the cartel won’t smash.
Here’s the key take-away: The cartel is losing the ability to keep prices down for any real length of time.
Said differently, it appears that actual market forces are slowly but surely re-asserting themselves onto the cartel’s ability to suppress price.
Here’s a look at traders who just had to “sell” their gold because of the delay in placing additional tariffs on China:
But notice how quickly gold recovered, and look where gold is this morning!
Is the cartel losing the ability to keep the gold price capped?
It looks like they’ve lost the ability.
The gold-to-silver ratio had a wild swing yesterday:
Wild swings like this happen at major inflection points, which, in my opinion, is happening as the gold-to-silver ratio tops.
Remember: Topping is a process.
We may say that 95.11 is the top in the gold-to-silver ratio as this point in the cycle, but considering more than just one single day, it looks like we’ve topped, have pulled-back after the initial drop, have been consolidating, and now it seems as if the ratio is going to start falling once again.
After getting hit for nearly $1.00 in price yesterday, silver is back above $17:
With silver threatening to break-out above $17.50, it is easy to see why the cartel smashed yesterday.
The cartel will lose control of the silver market, if they haven’t already lost control, and their efforts to smash price right now seem futile.
Palladium continues to consolidate above $1400:
To me it looks like the technicals are about to make a bullish crossover.
Platinum’s daily chart looks bearish in the short term:
The initial momentum of the “trade war move” nearly painted a lower-low to go along with the lower-high, but I don’t think we come back down to test $800.
Copper had a big move yesterday:
The chart may look downright ugly with the recent 52-week low, but copper is pretty much “unch” year-to-date.
Crude oil is in a sideways channel between $50 and $60:
If we are range-bound in a sideways channel, then we will soon be visiting the resistance of the channel and seeing if crude oil can manage a break-out.
The timing is the hard part if you are not an insider with the inside information.
The stock market has had some wild swings lately:
Just like the delay in tariffs was the cover to smash gold & silver, the delay in the tariffs was the cover for the cartel to ramp the stock market.
Speaking of swings, the VIX still looks like it wants to spike higher:
If you were a Deep State Globalist, wouldn’t you want to keep people guessing just as you bring on max pain to the US economy & markets?
Yield on the 10-Year Note looks like it’s ready for another drop:
The bond market does not think it will be “one and done” for the Fed and their rate cuts.
The dollar continues in its holding pattern:
We seem to be putting-in a lower-high on the daily chart.
What’s the bottom line as we find ourselves here this beautiful Wednesday in mid-August?
The cartel uses good, bad and indifferent “news” to smash the metals all the same.
Interestingly, the cartel seems to be having trouble containing price right now.
Gold’s recovery of $1500 yesterday had to be embarrassing for the cartel.
So we know they’d love to come in here and really give us a beating.
I have said the cartel needs to let gold run here to focus on silver.
Of course, the cartel’s uber-hubris is really second to none.
We are seeing gold & silver prices recovering nicely.
Which means that traders are “buying the dip”.
Silver’s recovery is even more impressive.
I think we can boost to $17.50 soon.
Dips are being bought in silver.
This bull’s only just begun.
The dollar is strong.
Silver is cheap.
– 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.