Loading ...A quick check of calendar events for the week shows today was the cartel’s mandatory pre-inoculation for the metals. After all, how could it be any different than the past 20 years? In light of the potentially huge bullish reports coming out this week today’s hit on the Crimex open was baked in the cake. Just a few reasons to take the metals down a notch or two:
Wednesday: Fed speak, forecast: 1/4 point rate cut
Wednesday: GDP figures, forecast: very weak, +1.6%
Thursday: Employment Cost Index, forecast: surging, to +0.7%
Friday: Non-Farm Payroll, forecast: very weak, +85k
Friday: ISM Manufacturing, forecast: still below 50, at 49
They’ve rope-a-doped gold and silver for nearly 2 months since both hit their multi-year highs on Sep. 4. The metals have bended, but not broken. The bullish pattern is very much still in force. The OI’s for both clearly indicate there is both a resolute buyer, and a resolute seller. That’s one epic standoff. The bulls have EVERYTHING going for their cause. The bears have CTRL-P, obfuscation, misdirection, and a teeny tiny amount of physical to keep the charade alive. Hocus-pocus isn’t a good long-term strategy for suppressing anything, let alone REAL money.