Gold / Silver: Building New Floors

Gold and silver have been on the move since the open on Sunday night and it seems that both metals are determined to reach for higher ground. This in the face of all the, now proven over and over and over and over, manipulation by the banking cabal is real and RICO laws being rolled out by the DoJ tells the world the manipulation is real. I don’t see any end of the “spoofing” or other forms of price suppression by the government, I mean “bullion banks”, anytime in the near future; these markets are too important to economic perceptions. However, we should see a short reprieve from the in-your-face lawlessness being conducted by JP Morgan and others.

What we are seeing today should be expected by everyone following the gold and silver markets in light of the news coming out of JP Morgan mafia organization last week. The major shake up and actual conviction should allow for some breathing room over the next couple of weeks. You know, long enough for this life altering news to blow over and be forgotten by the masses. I feel confident what we are going to see from here are higher lows and maybe even higher highs.

Live charts courtesy of KitCo

I would love to see $18.50 as a new floor for silver and I believe we will actually get it. Will be on this current run? I doubt it, but anything’s possible in this rigged casino. Also, it would be very healthy to see gold put in a new floor at $1,525. While it hasn’t achieved that mark as of this writing (gold is $1,523.86) it is only a matter of time before the traders push forward and we see this level breached. It could happen today with the strength we see and the current news flow that is all gold positive.

These two marks are important psychological marks for the metals to consolidate. This will allow gold and silver to move higher and once the next major news event happens, which should be coming in 3,2,1… both metals will be within reach of the next “round number” – $1,600 for gold and $19.00 for silver. They have to establish this first floor to get their and, as of right now, it looks like a great week to achieve this goal. There is alway, always, always the caveat of the banking cabal doing what they want, when they want. As the events of last week proved beyond question this is a reality of our world and, especially, of the gold and silver market.