What Happened To Gold And Silver Last Night?

by Dave Kranzler, Investment Research Dynamics

The western Central Banks – especially the Fed  –  manipulate ALL markets ALL the time.  –  Off the record conversation I had recently with a very high profile market professional

At the open of the CME Globex computerized paper gold/silver system (6 p.m. EST) last night gold and silver looked like they were on an elevator at the top of the Empire State Building that had the cable cut.   No news.  Now event triggers.  Of course, and this no exaggeration, silver gets hit at the open of Globex 99% of the time.  Click to englarge:


Silver was smashed for 40 cents and gold for over $13 in less than hour on incredibly high volume for that time of the trading day.  Then they abruptly reversed course and shot straight up, again on no news/events.  Australia’s CB was expected to cut rates but did not.

Of course, we’ll never know for sure unless we were given access to the Fed’s private emails – something for which the Fed is spending millions lobbying Congress to prevent. Hillary Clinton could only be so lucky.

The best explanation comes from John Brimelow in his Gold Jottings report:

This evening just after the 8PM Shanghai open massive selling hit GLOBEX gold, slashing $12 off gold in less than an hour and producing a low in April of $1,194.60 (down $13.60) about 9-10PM. Then, just as abruptly, the loss was erased with April making a session high of $1,210.50 (up $1.30) about 11PM. Some 30,000 lots were involved

Perhaps the early Asian selling effort was intended to run stops. Instead it apparently uncovered serious demand.

The truth is, we’ll never know exactly what happened but I would bet my life that the Central Banks were responsible.  The Fed and the Bank of England have kept a tight lid on the metals for over a year now.  Interestingly, the metals are now higher than they were before the mob hit occurred.

In my humble opinion, the Central Banks have reached their limit on their ability to hammer the metals any lower.   The physical demand from Asia/Russia/U.S. silver eagle buyers is just too immense in relation to the supply of above-ground gold/silver that is still available to support the paper gold/silver fraud.  And the economic and geopolitical news gets worse by the hour.   I stand by my call that silver will be the best performing asset in 2015.

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