Merry Christmas! Silver and Gold Smashed – Back up the Sleigh

Merry Christmas! Silver and Gold Smashed – Back up the Sleigh

All morning the criminals on the COMEX and LBMA have been working their magic. While the precious metals “markets” are not rigged, *cough-cough*, just ask Jeffrey Christian or any other member of the CMP crime syndicate, and they will be happy to explain it all as normal, natural trading. Oh, that’s right, Deutsche Bank ratted out a bunch of criminal banks rigging the markets!!

The artificially low acquisition costs during the Shopping Season should get your attention. Today would be a good day to back-up-the-sleigh and off-load some very inexpensive precious metals.

According to chart backwardation/premium to physical on the SGE remains above $50 per ounce for gold and just below $2 per ounce for silver.

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Click the image below to see the latest divergence between physical and paper.

Eric Dubin chimes in via Facebook

ZeroHedge hasn’t linked the two dynamics yet, but the Chinese market strain is translating through the FX market and bashing silver and gold. It’s also compounded by a fear of deflationary ripples coming out of the credit market problems in China. This isn’t just a simple linear reaction to an FOMC rate hike, and sometimes Federal Reserve economists have markets smack some reality upside hubristic groupthink heads (Janet, need some aspirin?)

We’ve got quadruple witching expiration on Friday, and that’s going to add to today’s volatility through Friday, in U.S. market trading.


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The Daily Coin

Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.