Precious Metals have opened 2014 higher, despite 2:15 AM EST Cartel attacks on all four days; bringing the seven-month tally to an incredible 147 such raids in 163 trading days. Quite obviously, $1,250 is gold’s new “line in the sand”; while with silver, even we have never seen anything like the nearly year-long attempts to hold it below the very key round number of $20/oz. To wit, silver was subjected to a 2+% intraday decline in 54% of all 2013 trading days; and per below, observe this morning’s 2:15 AM and COMEX-opening takedowns. In fact, per the below commentary from yesterday’s GATA blog, today’s “trading” could not have been more predictable…
Tomorrow is a BIGGIE. How many times over the years has James Mc pointed out the 2%, 1%, sideways, down hard Gold Cartel drill for manipulating gold prices? As you know, on Thursday gold went up 2%, while Friday 1%. Both of those numbers were almost to the penny; and today was about as sideways as you can get, with an almost unchanged close. Think about how outrageous and rigged this clinical price control is … how many times we report on it … and how it goes unmentioned by the gold financial market press, or anyone in the retarded gold/silver industry, who remain silent no matter how much they are ravaged and made to suffer!
–Gata.org, January 6, 2014
In the criminal New York PAPER world, we’ve seen PM gains capped on each of the year’s first three days – at either the 10:00 AM, 12:00 PM, or 2:00 PM EST “Key Attack Times”; including yesterday’s historic “flash crash” – during which, I kid you not, gold was hit for $13/oz. in five seconds at 10:15 AM EST, just 15 minutes after a disappointing ISM non-Manufacturing number. Thus, for the sixth time in the past four months, a COMEX “stop logic” event was triggered, temporarily shutting gold trading while CFTC “regulators” turned their usual blind eyes. By the way, this occurred just as gold was about to surpass the aforementioned $1,250/oz., with the Dow Jones Propaganda Average amidst another weak day. Coincidence? Don’t make us laugh!
Meanwhile, it’s now January 7th – i.e., seven days after the close of the December COMEX gold contract – and roughly 275,000 ounces are still standing for delivery, with ZERO movement from registered inventory. As it stands, registered gold inventory of 480,000 ounces is down 85% from last April. However, it should be closer to 200,000 ounces; and yet, no one is talking about it! I’m sure it won’t surprise you that GOFO, or gold forward rates, have now gone into backwardation for three months – thus, implying extreme tightness in the physical markets. However, as the Cartel naked shorts PAPER metal with embarrassing blatancy, the world continues to ignore reality. Which, by the way, includes the fact that not only is the Fed not returning Germany’s gold as planned, but the gold it is shipping is not even Germany’s original gold!
And for those worried about what MSM “analysts” anticipate in 2014, here’s a list of what “legendary” investment guru Byron Wien is forecasting. Of course, if you read through the article, Zero Hedge lists what he predicted for 2013; which I assure you, will give you a good laugh. And for that matter, have no fear of Wall Street’s PM prognostications – as if they should ever be considered; as below, Steve St. Angelo not only lists their 2014 predictions, but 2013 as well. In other words, the majority of “analysts” simply look at the current market, and assume it won’t materially change.
And finally, I see that Louise Yamada, who was the head of Technical Research at Salomon Smith Barney when I worked there in 1999-2005 (as an oilfield equipment, services, and drilling analyst), is anticipating $1,000 gold later this year. As you know, we believe the validity of “technical analysis” has been permanently destroyed by manipulation; and thus, the modus operandi of Yamada’s work. Thus, I find it quite unusual that her August 2013 King World News interview – in which she apparently admitted gold might be manipulated – has been ERASED from the internet. Go ahead, try to find it anywhere – using this Google link.
Why do we write in this manner, you ask? Simple. To keep you focused on protecting yourself from what’s coming, amidst the endless noise of expanding money printing, market manipulation, and propaganda. Behind the scenes – and often, quite an https://www.google.com/search?q=gold+art+hard+assets+euro&sourceid=ie7&rls=com.microsoft:en-US:IE-Address&ie=&oe=bit more transparently, the “noose of reality” is rapidly tightening; and thus, it is important to keep your “eyes on the prize.”