WOW! What a Spectacular Failure: Gold / Silver Bounce After Attempted Beat-Down

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Published : August 13th, 2019
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Seeing the glass half-full usually works best. In this case the glass may as well be overflowing as both gold and silver, so far, have fended off a major attack. With the lies being exposed from the “Russia did it” narrative to the latest line of garbage, “Epstein committed suicide” it seems no one, I mean no one, believes anything coming from officialdom. Have they completely lost control of the narrative on every front? Do the traders understand they can win back as long as they are united? It sure seems like they are not accepting of the latest attempted beating.

Silver, having moved down from $17.51 to $16.74 or approximately 0.77$ and then bouncing back close to yesterday’s close says someone, or a bunch of someone’s, is not standing idly by and watching this happen.

The exact same thing happened with gold dropping from $1,534 down to $1,487 close to $47 drop there was a sudden and severe bounce of close to $20, not quiet 50% retrace but the day is not over. As of this writing the pit has just under 2 hours remaining and another 5 hours before the NY Globex shuts down for the day. So, there is plenty of time for a 50% or stronger recovery of this nonsensical attempted beat-down.

With that said, there is plenty of time for the banking cabal to come in and finish the job and push both metals to lower ground, much lower ground. Although, I don’t see that happening it is something we must keep in the front of our thinking all the time. If not, what is perceived as precious metals positive becomes precious metals negative and the banking cabal uses the cover of lies and deception to create the charts above.

The good news is the damage seems to be minimal and the bulls seems to be pushing back as hard as possible. As we have been saying, and will continue to say, this time it seems to be different. This time it seems the bulls are not going to take no for an answer. It seems this time, the charts are going to work in favor of the bulls and against the bullion banking cabal.

The charts below are live so you can see show this plays out over the next couple of hours or next couple of days.

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Rory Hall, Editor-in-Chief of The Daily Coin, has written over 700 articles and produced more than 200 videos about the precious metals market, economic and monetary policies as well as geopolitical events since 1987. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver and Silver Doctors, SGTReport, just to name a few. Rory has contributed daily to SGTReport since 2012. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few.
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