What a timing! Gold is smashed big time again and it is so convenient that China is on a weeklong National Holiday now. It is such a shame that CFTC can not find any signs of Gold & Silver market manipulation. We could not even think that 800,000 furloughed Government employees are such big Gold savers and holders up to this day...and Have to Sell Gold today to cover the delay in paychecks.
Can we safely assume that US Dollar will dive now below 0.80 and FED is already in the damage control mode? All resources are lined up to defend this line in the sand for US Dollar - below 0.80 it can experience the Waterfall stage. With Government shut down is only an opening to the Debt Ceiling gambit, we can expect more FED moves defying the normal laws of gravity for US Dollar.
We will keep you posted Who is Selling and Who is buying the cheaper Gold & Silver this time.
Max Keiser: CFTC Investigation And JPMorgan Whistleblowers on Gold And Silver Manipulation. GLD, SLV, GDX, GDXJ, MUX, TNR.v
"The "results" of CFTC "investigation" in Gold and Silver manipulation stink to the high heaven. With JPMorgan being involved in manipulations in Libor, Energy and other markets and talking now about the 11 billion settlement on Mortgage market manipulations, the idea that CFTC can not find any evidence of Gold and Silver markets manipulations does not fit well with more and more facts coming to the surface."
While gold prices remain above their pre-Un-Taper levels, they have been monkey-hammered once again this morning as the world awakes to a US Government shutdown for the first time in 17 years. Silver has retraced all its post-Un-Taper gains and is holding at those lows. It seems the department of precious metals selling has been deemed essential... or are the furloughed government workers all selling their gold?
Of course, for the conspiracy fact crowd, this makes perfect sense. On a day when the foundation of the USA is shown for its farcical reality, what better signal to the world is there than a US equity capital market rally and barbarous relic selloff to signal the status quo is as strong as ever?
and sure enough, it's getting worse...