Traditional holiday market smashing has not been effective so far in gold and silver. The cartel loves to smash on holidays, so assume they have their rifles pointed at the metals. Looks like their mags are out of bullets for now though, so Let’s hope there is no re-supply drop…
Cartel unable to attack in the overnight trading hours. As most markets are closed for the Labor Day holiday, there is some limited trading in gold and silver today in a short session.
When the markets opened for trading on Sunday evening, gold and silver both gaped-up at the open.
Here is the overnight action in silver:
And the gap was more pronounced in gold:
Of course, at a time when the safe havens are surging, digital fiat cryptocurrency replacements have been crashing:
This morning’s action and tonight’s market action in the precious metals will be crucial. If the cartel is unable to attack, we could be staring down $1350 and $18 in short order, but if they are successful, we could have a setback which may take the better part of all week to recover.
Of note, Zero Hedge is hitting hard with the “gold & silver flash crash” headlines. We remind readers that we didn’t jump to any conclusions the last time, so we are not this time either. In fact, the last “flash crash” unleashed upon on us we would consider direct and blatant market manipulation with heavy selling during low volume, which has less and less effect every time, as evidenced when silver recovered all of the “flash crash” in just 14 minutes:
Zero Hedge likes pushing the word “flash crash” immediately following the words “gold” or “silver”. It’s cool though. “Flash crash” means we get a “flash sale”. Bitcoin and Ethereum? Well, no. There is no “flash” to it. The cryptocurrencies are just “crashing”.