Thursday, August 17, 2017

Gold manipulation losing steam as metal price continues to bounce back strong following every beatdown

Since mid-July, there have been eight occasions where the price of gold has had at least a $10 per day move to the upside, and continues to push hard at the $1300 resistance level.  And with geo-political events creating more chaos in the financial markets on a weekly basis, the long-standing manipulation of the gold price is losing much of its potency.

Last week was bullish for the metals, even if it was the threat of “thermo-nuclear war”, which, oddly, is barely in the headlines today. Granted, the senseless violence in Virginia last week is a tragedy for friends, family, and the nation as a whole, but if the nation was wiped off the face of the map? 
As such, we knew the metals would come under pressure. Come under pressure they did on Tuesday with a nice smack-downs of silver and gold to begin the week. It has been hard for us to express excitement, because we have been let down so many times this year. The way the cartel attempts to paint the chart doesn’t help with this sentiment either. 
Since mid July, we have had eight days when gold made a $10 move higher. We are within $10 of $1300, and things sure do look good for follow-through momentum. We are certainly within striking distance now, and we could even sneak in a weekly close above $1300, but you can bet your bottoming-out dollar that the powers that be will pull out all the stops to make sure that doesn’t happen. Even so, gold is right there, right now, staring down $1300 and not wanting to take another punch in the face. - Silver Doctors

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