The Phaserl


Gold up $2.50 Friday, Silver Up 30 cents to $20.94/Gold inventory at GLD Remains Constant — Silver Inventory Lower by 1.15 Million oz

by Harvey Organ,

Gold closed up $2.50 at $1316.20 (comex to comex closing time ). Silver was up 30 cents at $20.94

Thursday’s action in gold and silver was something to behold. Our bankers never allow momentum to build in gold and silver as they usually hit on our two precious metals the day after a big rise. I was waiting to see if they would attack. Thursday evening, I could see that our illustrious bankers were trying to tame things down once trading started in Asia. However once the physical zones started to trade gold rebounded from its lows of $1306 and bolted again to levels seen in yesterday’s access market. Not to be undone, once London was put to bed, all physical zone buying ended and it was easy for the bankers to knock gold back to the $1315 level which in my mind was still a great victory for the gold bulls in fighting the criminal gangsters.

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