Eric King: “James, what are your thoughts on the gold and silver smash today?”
Turk: “Well, it’s another option expiry day, Eric. Today just repeats the pattern that we’ve seen time and time again over the past couple of years. At the end of the month in order to make as many of the call options expire out of the money as possible, you always see the price of gold and silver slammed on option expiry. And these are call options that are sold by the bullion banks….
“Today the Comex options went off. Tomorrow and Thursday the last of the over-the-counter options will expire. But once we are through this option expiry we are going to follow the normal pattern and gold and silver prices will rally.”
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