The shorting of Silver/Gold is done to support the US dollar when these non-farm payroll numbers are released.
Finally... anytime the US Federal Reserve Chairman speaks after a meeting of the FMOC, the metals are usually shorted leading up to his speech.
Two bloggers worth checking out who regularly follow the manipulations of the Gold/Silver markets and provide updates are Ed Steer and Harvey Organ.
From Harvey this evening:
- The bankers again decided in their great wisdom that a raid was necessary to quell the demand for gold and silver. The world awaits Ben Bernanke's speech from Jackson Hole Wy. The market strongly believes that he will initiate QEIII. If he does not, then markets will tank. The fact that a monster raid on the precious metals with regulatory cover was orchestrated seems to indicate that that is where he is heading. I will deliver to you both sides of the story.
The price of gold fell by an unbelievable $104.20 to $1751.10 at comex closing time. The silver price was also whacked to the tune of $1.12 to $39.16. Dennis Gartman liquidated another 1/3 of his positions early today along with yesterday's 1/3. I emailed the CFTC that maybe they should arrest Gartman for inside trading as he obviously knew that another raid was forthcoming today. I will remind everyone that you should not play at the comex. If you want gold or silver line up at the bank and get it. Do not play with paper gold or silver as these crooked bankers will fleece you time and time again. Please try not to use leverage as this is a big sin and again the bankers exploit your weaknesses.
The comex has now decided to raise margin requirements on gold again tonight. It is amazing how this news was leaked. Gold will now become a physical market like silver.
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