by The Doc and Eric Dubin, Silver Doctors:
With Gold and Silver Hammered Ahead of the Holiday Weekend, Harvey Organ Joined the Show to Break Down All the Action, Discussing:
Why A Raid HAD To Come!
On the GLD: Someone’s Buying 2 Tons of Gold & the Price Gets Slaughtered!?!
“How This Game Ends”: END GAME Will Happen “This Year”
China Threatens US Gov’t With MASSIVE Yuan Devaluation
Is the Cartel About to Roll Back Gold & Silver’s Entire 2016 Bull Move?
Image credit: William Banzai7
When silver ticked above $16 this week, for a brief moment it looked like the cartel was going to be forced to let silver move higher – and gold, in turn. No dice. Going back all the way to the February 11th intraday spike high, silver has touched or exceeded $16 on a spot basis three times! Clearly, the cartel has drawn a “line in the sand” at $16. No surprise. There have been a couple of recent trading days when silver was showing a bit more strength versus gold, and we even saw the gold/silver ratio start to decline ever so slightly.
Harvey Organ joined us on Good Friday. The London Metals Exchange and the COMEX were closed. The LME will be closed on Monday. Once normal trading resumes next week, all March COMEX precious metals options contracts will have expired. This week, that pending expiration status has had a lot to do with why the cartel was beating precious metals prices down.
Can’t have speculators rewarded with too many profitable long positions, lest animal spirits truly get “out of control.” Generally speaking, over the last month we’ve seen rising open interest and a fat and growing commercial short position in both silver and gold COMEX options. The cartel has been itching for a fight, and they finally got their break.
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