Experienced commentators and investors understand the game being played in the precious metals markets.
The corporate media announces that ‘all eyes’ are on some upcoming propaganda bulletin, and then hypes it daily as the event approaches. The bankers focus all of their market-rigging activities on that day, so when the ‘prediction’ comes true (surprise!) they can pounce on the market and (initially) drive prices lower based on the ‘reason’ being hyped by the corporate media. Once the downward momentum has been built up, the bankers then attempt to drive all leveraged traders out of their positions, creating yet more downward momentum and causing all sorts of ‘technical damage’ on the charts. The corporate media then uses that technical damage as a further ‘reason’ to sell gold and silver.
It’s such a blatant tag-team act that it no longer surprises sophisticated market watchers. Instead, knowing that manipulation is on the way, those investors allow the bankers and corporate media to work for them.
After Bernanke’s ‘No QE’ speech on August 31, the bankers immediately drove down the gold price (as expected), but could only manage a feeble move of about $10 lower, with the low of the day coming a mere 10 minutes after the announcement. Twelve minutes after the propaganda was released, a website known for bearish propaganda said: “COMEX Gold Backs Down as Bernanke Holds Off on Fresh US Monetary Stimulus Package.”
By that time the big buyers were purchasing, and gold started rising. A mere 10 minutes after the bankers had taken gold to its low of the day, the big buyers totally reversed this downward move and took the yellow metal to its high of the day. To date, gold is up more than $30—a devastating defeat for the banking cabal, and evidence that the bankers are no longer able to cap prices.
Not only do we have two weeks of unequivocal bullish strength, but gold and silver are both poised to complete ‘the Golden Cross,’ when all shorter-term moving averages rise above the long-term (200-day) moving average, a clear indicator of longer-term technical strength.
Cautious bulls may want to consider this Friday’s US jobs report. There are two reasons, however, why this next ambush date could represent another failure for the banking cabal. First, their attempt to move the market lower on last month’s jobs report was a dismal failure because the BLS made a gigantic ‘seasonal adjustment’ (higher) to reflect predicted lay-offs that were canceled. Those 200,000 or so fantasy jobs must be subtracted in this month’s report.
This means one of two things for Friday’s jobs numbers: A terrible negative number; or the BLS will fail to subtract July’s imaginary jobs and destroy its credibility with a much larger segment of the mainstream public.
To read Jeff Nielson article: Bernanke Fails to Move Gold Market Lower
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BullionBuzz is a weekly eNewsletter that offers investors a quick snapshot of must-read news pertaining to the markets and precious metals. This week: Euro: Current Course Is Leading to Disaster Continue reading
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