Gold is getting hit too, but holding up at support. Here’s the details…
In what is nothing other than blatant precious metals price suppression, gold and silver are getting pounded hard in the pre-market.
Silver is hit for more of a loss than gold:
Gold has been holding onto support at $1330. Silver blew through support of 16.91. Next support is the 50-day right around $16.70 (which is holding so far).
The dollar is not spiking or anything like that:
A chart of the USD/JPY shows it’s not spiking either, in fact, it’s falling, which would mean higher gold & silver prices.
But this is blatant manipulation we’re talking about.
Here’s a look at the heavy volume:
The daily shows how gold is hanging in there:
Yet silver is taking an absolute beating here in the pre-market and it’s showing on the daily:
Silver is fast approaching its 50-day moving average.
GSR is still favoring silver right now as of yesterday and surely this morning:
With silver amazingly at $16.75 here in early 2018, we are right at the cost of production.
There is no “market moving news” to speak of that could cause this move other than blatant, outright, in-our-faces manipulation.
Enjoy the deep discount on the metals today.
– Half Dollar