Is This What Desperation In The Gold Market Looks Like?
Is This What Desperation In The Gold Market Looks Like?by Rory for The Daily Coin
With gold and silver both ending the past week above their technically friendly levels and the horrible coronavirus news over the weekend I thought checking the opening charts for the precious metals would be prudent.
This is what I what I found – desperation and the metals markets awash in the fear trade. While the equities and energies markets are in nosedive. Please keep in mind this still does reflect the reality of what is happening. The equities markets have been acting as if it’s all rainbows and unicorns, until earlier today.
The first chart, courtesy of KitCo, shows this very odd anomaly with a massive $185+ straight line drop. If you close you can see several points of action on the way back up, which appears to indicate nefarious activity, otherwise, it would be straight line down and straight line up – if it were some type of “glitch”.
We see in the silver chart, also courtesy of KitCo, doesn’t show that very odd almost $200 drop out of the gate. Why? What happened with the KitCo gold chart that didn’t happen with the silver chart?
With this situation so clear in the first gold chart I wanted to see what GoldPrice.org was reporting and as you can clearly see that very odd drop is not echoed on the chart below. Why? What happened in the KitCo chart that didn’t happen in the GoldPrice chart?
It will be interesting to see how this plays out over the next 12-24 hours. With a massive spike to the upside right out of the gate are the banking cabal back on their heels? The straight line down in the KitCo gold chart points to these guys being well prepared to battle the northern climb that gold was prepared to do. Whatever the reason for that massive downward spike, it didn’t work and it appears that someone or someones generated income from the situation. Either way, let’s see how the criminals respond and see if the gold and silver bugs can hold their ground or even push the metals higher.
Stay tuned as we will keep you posted on what happens. I going to check on some other sites to see if anyone, other than Zero Hedge, has anything to say about this opening.
If you were wondering what’s happening in other so-called markets. Well, in a word, carnage.
The charts below, courtesy of FinViz, tell-the-tale of the actual desperation. Wait till the truth of coronavirus, supply chain disruptions and the monetary heroin injections begin in earnest. If you think the gold and silver charts look good right now, and the charts below look really bad, give it another 3-4 weeks. It may not take that long but let’s be a little conservative and allow for some unknown “magic” to appear via the national banks around the world.