Fireworks: Silver SOARS … Gold Roars!
By lemetropole
July 4 – Gold $1350.40 up $13.70 – Silver $20.40 up 86
cents
(Last prices over prior Comex close)
Fireworks: Silver SOARS … Gold Roars!
“The gold
price manipulation scheme will go
down as the biggest financial market scandal in U.S.
history.”
— Bill Murphy, Chairman of the Gold Anti-
Trust Action Committee
Brad Hoppmann
Publisher, Uncommon Wisdom Daily
Simply click
this link for all the details.
GO
GATA!
Last night was something else and a sign of the times for
what will be standard fare for the precious metals over the
months ahead.
After the briefest of dips, silver popped a dime and then
began to steadily move up to take out $20 an ounce. Once
that level was breached, all heck broke loose. Silver began
a run higher rarely ever seen. Its price moved up and up and
then began trading EXACTLY like gold did the evening
following the Brexit vote, shooting up ten cents at a click.
Just as gold soared to only pennies less than a gain of $100
an ounce at that time, silver rose $1.50 over its prior
Comex close and blew through $21 to $21.13 in the process.
Excitement would be an understatement. Gold was acting
sluggish at the time, but then caught some fire, as silver
finally did briefly following that gold post Brexit run, by
rising to $1356. Both precious metals corrected, giving up
most of their gains, but then began to move right back up
again as the trading hours in London progressed. In a
relative blink silver was back to $20.50 with gold back
above $1350.
“Can’t tell the players without a scorecard,”
is an old sports expression we used as kids.
While watching the action last night in the silver price
arena was exhilarating, it probably is no surprise to
Café members in that it has all been laid out over
the past two weeks. Now that what has been discussed is
playing out almost as part of a script, it is time to really
pound the table about what the silver price is in the
process of doing, and that is a historic move towards $100
an ounce and probably at lightening speed. The lack of
comprehension and enthusiasm by the general public of what
is occurring is astounding.
Some retro MIDAS comments for focus purposes:
June 23 – Gold $1261.20 down $6.80 – Silver $17.35 up 4
cents
An emphasis in this column for some time now has been on
the “whacked out” silver price action. Never seen anything
like it over the past 40 years. And now, after all that
focus, the silver OI confirms that something “wacky”
(profound?) is indeed making itself felt in the silver
market … and that STRANGE is being reflected in the silver
open interest itself.
I was very fortunate in my early commodity trading days
to be a part of spotting situations such as what I think I
see developing in the silver market via the genius of some
big time …read more
Source: Fireworks: Silver SOARS … Gold Roars!
