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GLD holds constant/SLV declines/Poor jobs report/ gold and silver rise despite the antics of the cartel

by Harvey Organ, HarveyOrgan.Blogspot.ca:

Good evening Ladies and Gentlemen:

Gold closed up $5.70 at $1263.30 (comex closing time ). Silver was up 1 cent to $19.92

In the access market tonight at 5:15 pm

gold: $1267.00
silver: $20.00

So far the bankers are still in control of the gold and silver market as gold initially jumped to $1272 early this morning on the lousy jobs report,(see below) only to be repelled back to the $1257 range. However, during the day gold started seeing major bids as gold finished the comex session at 1263.30 and continued in the access market where it finished at 1267. Silver was still held in check. The good news today is that the GLD inventory levels held constant again and also gold seems to be moving closer to backwardation in all months.

Read More @ HarveyOrgan.Blogspot.ca

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2 comments to GLD holds constant/SLV declines/Poor jobs report/ gold and silver rise despite the antics of the cartel

  • rich

    Market Manipulations Become More Extreme, More Desperate
    February 7, 2014

    Paul Craig Roberts and Dave Kranzler

    In two recent articles we explained the hows and whys of gold price manipulation. The manipulations are becoming more and more blatant. On February 6 the prices of gold and stock market futures were simultaneously manipulated.

    On several recent occasions gold has attempted to push through the $1,270 per ounce price. If the gold price rises beyond this level, it would trigger a flood of short-covering by the hedge funds who are “piggy-backing” on the bullion banks’ manipulation of gold. The purchases by the hedge funds in order to cover their short positions would drive the gold price higher.

    With pressure being exerted by tight supplies of physical gold bars available for delivery to China, the Fed is growing more desperate to keep a lid on the price of gold. The recent large decline in the stock market threatened the Fed’s policy of taking pressure off the dollar by cutting back bond purchases and reducing the amount of debt monetization.

    http://www.paulcraigroberts.org/2014/02/07/market-manipulations-become-extreme-desperate/

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