Gold & silver just had nice little pops on volume, but is this something to get excited about?
I don’t think so.
First and foremost:
China is still on Golden Week, and I don’t think the cartel would let a good gold & silver price smashin’ opportunity go to waste.
What does that mean?
The cartel can literally naked-short the crap out of gold & silver, and on brute force alone, crush the HFT algos that just bought the “news”(feed) out of Bloomberg Terminal.
Because real people, be them individual retail traders, hedge fund managers and the like, do not have unlimited paper money like the cartel has unlimited paper gold contracts.
So sooner or later, real people lose.
That said, gold & silver just popped on 10:00 a.m. EST news:
The mainstream will say this is bullish for a rate cut from the Fed, which is “good for gold”.
As if the Fed is that undecided and is not already operating with a working plan!
Here’s a look at the pop:
I don’t think it lasts.
Blow the stops.
– 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.