Wednesday, July 27, 2011

Silver Raid in Progress

We warned readers yesterday about the possibility of a large silver raid today by the cartel in an attempt to shake out the holders of gold and silver calls that expired in the money yesterday.
It appears this has transpired exactly according to pattern, as both silver and gold have just been shoved down an elevator shaft. 
Silver is has vertically dropped nearly $1.00, and gold nearly $14.
Take this as possibly the last excellent buying op in the foreseeable future.

*UPDATE:  $40.12.  Blythe throwing the kitchen sink at silver to stuff it back under $40.

Live New York Silver Chart [ Kitco Inc. ]

Live New York Gold Chart [Kitco Inc.]