Last Tuesday’s slump in the gold and silver price explained
Read the original article for a more detailed overview. The following post just scrapes the surface…
For the full analysis into the gold and silver markets, presented in illuminating detail, watch Talking Gold in Episode 20 of Kinesis’ ‘Live from the Vault’.
In this week’s exploration of the gold and silver markets, Andrew Maguire explains how last Friday’s release of the non-farm payroll data, enabled insiders to orchestrate yet another “rigged sell-off” in the paper markets — and why gold and silver won’t be held down for long.
The non-farm payroll report
Andrew Maguire reports that the US Federal Reserve receive the non-farm payroll report a few days ahead of the wider release. A few day’s notice that allowed market making insiders to commence driving gold and silver prices lower, as soon as the market opened last Tuesday.
Early Tuesday, the silver price was smacked down the moment it rose slightly to the December options sweet spot of $29.245. As Andrew Maguire reads it, the organised selling event targeted Silver Futures in a bid to drag down Gold Futures, while flushing as many specs as possible in the process.
Watch Andrew Maguire explore the impact of the BIS options expiry on the gold price in last week’s Talking Gold from the Kinesis show ‘Live from the Vault’.
What does this mean for gold and silver?
In Andrew Maguire’s opinion, the amount of fiat currency chasing physical gold and silver is tightening up physical bullion supply. In response, the precious metals expert believes the price of gold and silver will rise purely to meet the demand.
As the precious metals expert sees it, while the massive paper market leverage always has a lagging effect, fundamentals will ultimately drive the chart painted technicals higher.
Andrew Maguire’s parting thought.
“The consensus sees a minimum price of $32 for silver, up to $35. That’s the minimum level.”
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Next Episode: Andrew Maguire carries out another thorough inspection of the gold and silver markets.
The opinions expressed in this publication are those of Andrew Maguire and do not purport to reflect the official policy or position of Kinesis.
This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.
