The Phaserl


Downward forces again hit gold and silver – can it continue?

Downward forces affecting the gold price are still prevailing as high frequency traders in paper gold continue their recent domination of the markets.

by Lawrence Williams,

Gold took another $30+ plunge at or around the time the latest U.S. job figures were released on Friday and appears to be making heavy weather of coming up with any significant recovery from the decline.

Indeed it has taken another dip this morning in London as high frequency trades kicked in at open and again at 10.00. Cynics would say that the release of the U.S. figures gave those who are wishing to see the gold price fall the opportunity to have another go at driving down the market – successfully it would seem – as there was virtually nothing in the U.S. employment situation to suggest that the U.S. Fed is anywhere near tapering (winding down its bond purchasing policy) – fear of which seems to be the so-called analysts’ reasoning-of-the-moment behind the latest bout of gold and silver price weakness.

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1 comment to Downward forces again hit gold and silver – can it continue?

  • andrew james

    April’s one day smack down was worth 800 million ounces in one day right? Not a oeeo from the CFTC or the GAO about it either so let me see yeah I think it can continue. The smack downs will continue until it’s not in the banksters interest to do so anymore. The banksters can slither out of any situation it seems. Go long.

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