For starters, from James Mc last night…
OMG prelim. gold OI +32,733
Astounding increase in gold OI. Just as I predicted they threw the kitchen sink at it on Monday keeping it contained to a 1%. gain. It took nearly 3K of gold shorts per $1 of gold rise. OI has now gone up 80,000 contracts in just 4 trading days. MANIACAL, and RIGGED. No doubt there is HUGE interest in owning gold right now, and it is being met by HUGE paper selling.
Gold trading volume was a huge 433K, vs. a rather pedestrian 69K for silver. It’s as if they’ve all been scared off from even thinking about speculating in silver. Any wonder?
JMc
The effort by The Gold Cartel to keep the gold price at bay, and below $1300, really has gone bonkers, off the charts … and the proof is in the pudding, the open interest pudding … which surely will be reflected in the coming COT report. What is just as astonishing, which you know all too well, what is going on here will not be discussed outside of the GATA camp. The most important aspect of the gold price will be ignored as if it never occurred. The imbecilic nature of it all is mindboggling.
The expectation today was for the cabal forces to continue to flex their muscles and for the PPT to goose the stock market early. The forecast was right on cue. Despite leftover gold buying, the gold price kept stumbling at $1300 and went down, while the DOW was 100 higher or so to start off the day.
Struggling silver was allowed to poke its head up out of the sand and go green by a few pennies.
Can you imagine if gold were allowed to trade freely yesterday, The price probably would have risen $50 to $65 and created headlines over just how negative the trade talk failure really was. It is that very concern which led to The Gold Cartel doing what they do in the first place. Nothing has changed in that regard for decades. What has changed these past years is the intensity of the suppression degree in both gold and silver. The power THEY have accumulated (via sophisticated coordination) was clearly reflected yesterday.
The questions all of us have are how and when is this Ring Around The Rosie operation ever going to end. The norm is for the cabal to sell and sell, even with the price going up from present levels, and then to flush out the spec longs … a drill which can take weeks or months. It used to be an operation which allowed controlled price rises, the reason that the gold price went up 12 years in a row following the turn of the century. Not so these days. It is all about lockdown. Silver is the perfect example of just that.
Loading ...
