The Phaserl


No change in inventory at GLD and SLV/Yellen speaks so gold and silver held in check

by Harvey Organ,

Gold closed down $1.20 at $1287.40 (comex to comex closing time ). Silver was down 20 cents at $19.09

In the access market tonight at 5:15 pm
gold: $1289.00
silver: $19.17

Today was the second day for Fedspeak, and the boys did not want to upset Janet Yellen’s testimony before the Senate, so they decided to raid gold and silver which is their usual and customary modus operandi.

Yesterday, the markets got a lift with some diplomacy on the part of Putin as he wants dialogue on the Ukraine crisis. He stated that he was going to pull his troops back from the border but NATO saw no evidence of that. Today, Eastern Ukraine decided that it will hold its referundum this Sunday even though Putin thought it best to hold off the vote. Then they decided to have a second vote on joining Russia.

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