The Phaserl


GLD: Bulls Are Playing A Dangerous Game

by Avi Gilburt, Seeking Alpha:

This past week, metals traders witnessed a momentous event. The silver-pricing method begun during the reign of Queen Victoria well over 100 years ago came to an end. Metal bugs all over the world have been anxiously awaiting this event with baited breath. In fact, I can picture them waiving the silver flag of freedom from roof-tops all across the world.

They believed in their heart of hearts that the silver market has finally been freed from the evil clutches of a small group of traders who have been stealing their money all these years. Now, the price was free to begin its parabolic rise towards the $100+ region they all “know” it really should have been trading at, if not for this cartel.

So, of course, what did silver do in response to being freed from bondage? Did it rally 10%+, as many of these enthusiasts were so certain it would? Did it slingshot skyward once the shackles were removed? No. It dropped 2%.

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