It is no coincidence that on “Black Friday” with the market open a half day and trading very light volume, gold declined by $21.4 or 1.8% to $1,175.20 per oz and silver declined by $1.06 or 6.4% to $15.49 per oz. It was an opportunity for the Big Banks to easily manipulate gold/silver prices lower in an attempt to create a major sell-off this week following the widely expected news of the Swiss Gold Referendum being rejected.
They continued their efforts Sunday evening, when gold declined another $32.20 or 2.7% to $1,143 per oz and silver declined another $1.19 or 7.7% to $14.30 per oz. From their Wednesday settlement prices before the Holiday through their Sunday evening lows – gold prices got taken down by a total of $53.60 or 4.5%, and silver prices got taken down by a total of $2.25 or 13.6% – on very light volume.
When the Big Banks manipulate gold/silver to artificially low levels, they hope to create panic selling so that they can cover their shorts as low as possible.
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