Rollercoaster Ride for Precious Metals This Morning

I must have missed the earth shattering news that has both gold and silver gyrating like drunkard on Saturday night. The last dip breached the previous low and it seems the bullion banking cartel is attempting to trip some shorts into making a move. So far, they aren’t taking the bait. My guess is one more good smash and we will be off to the races to the down side. Hoping, of course, that I’m wrong but it could happen.

We’ll have to keep a close eye out today to see how this thing plays out. In the meantime I hope there is dry powder in the locker for such an occasion.

Both metals are, currently, in recovery mode but we have already seen this same movie just about five hours ago. Wash, rinse, repeat.

Trapped in this same range for how long now – 1 year – 2 years? It’s so long it’s hard to remember when we last saw a sustained $17 handle on silver or $1,300 handle on gold. This is ridiculous.

Just don’t forget, this market is not rigged!! Repeat after me, this is natural… this is natural… this is natural.

Here are the charts so we can all play along as the cartel does what the do so well.