It was hard to miss the bear raid on precious metals this morning. ZeroHedge notes it in detail here.
Bear raid is a softer way of saying blatant price manipulation using the ‘Dr. Evil’ trading strategy of dumping large amounts of contracts into the market off hours, sending a signal to the other wise guys that the game is afoot.
As a reminder there will be an option expiration on the Comex tomorrow.
The warehouses were quiet, and only gold is seeing ‘deliveries’ in size for now as noted below.