The Phaserl


GLD inventories decline again/ Silver deliveries increase to 17.26 million oz

by Harvey Organ,

Today’s commentary is very important. Take your time and read all passages.

Gold closed down $32.00 to $1436.80 (comex closing time). Silver fell by only 25 cents to $23.63 (comex closing time)

In the access market at 5 pm gold and silver are the following :

gold: $1448.10.
silver: $23.87

The reason for the whack yesterday afternoon and this morning was the rumour that the Fed will taper QE. The article by Hilsenrath is now out (shown below USA news). As we explained yesterday, the USA has a 900 billion to one trillion deficit and with every nation buying their own debt, who on the planet will buy the USA debt other than themselves? It seems no journalist is willing to ask the right questions.

Although gold was weak throughout the day, silver refused to buckle.

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