Loading ...James Mc is right on target…
$1310 & $16.50 nets got moved to $1212 $ $14.30
Bill,
Never seen anything like the current price capping going on with the metals. The old tennis nets (basis futures) at $1310 and $16.50 have now been set up $100 lower for gold, and $2 lower for silver. Nothing else matters, and nothing in the way of bullish news- like a crashing dollar- matter in the least. For whatever reason gold and silver are, and have been on lockdown for quite some time. The engineered smash of last June, and the subsequent state of coma-like conditions were certainly by design. Today is nothing more than another day of blatant price suppression. I’m sure the OI will confirm as much when released.
Commodities in general have been given their marching orders lower. Grain prices have ag farmers back in survival mode, and hog farmers are now looking at giveaway prices around 58 cents a pound. Even previously mighty lumber futures have plummeted nearly 50% since May. Can there be any doubt as to how powerful the gold and silver signals would be if/when their prices explode? Can there be any doubt too how critical it is for the cartel to control their kryptonite?
Judging by the lumber market, and the latest housing permit numbers there appears to be an economic speed bump on the horizon. Of course that would imply Fed “loosening”, instead of tightening, and all the commensurate CTRL-P. Bullish for the metals? Hell yes. Will the metal’s nets come down and allow the GATA rockets to launch? Who the hell knows.
James Mc