Gold and Silver offer a full court press against the bankersas gold rises almost $24.00 and silver up $.24/USA/Yen continues to falter with yen up another 1.74 yen per dollar: this breaks the backs of the yen carry traders/The National Chicago PMI falters again this month
by Harvey Organ
Harvey Organ’s Blog
[…] Today is the first time in maybe 4 years that the bankers were unsuccessful in manipulating the gold/silver market during options expiry week. They lost big time. The price of gold rose by almost 24 dollars and the bankers supplied the necessary paper to keep gold from going off the charts. Silver was really on fire rising close to 18 dollars before the bankers dosed the flames, such that they can regroup and decide what to do on Monday. The OI for gold and silver are at multi year years despite the low price for both metals.On first day notice a rather large 28 million oz of silver is standing and for the first time in over 2 years, the whole silver OI complex did not contract. In gold, the total amount of tonnes of gold standing, in a non active month total 5.67 tonnes which is huge.We must wait to see if the holders will only accept gold and not fiat as the month progresses.