Tuesday, August 9, 2011

Cartel Smashing Silver Prior to QE3 Announcement

Silver is down 3.5% this morning to $37.50.
EVERY OTHER COMMODITY IS UP, as the entire world is now expecting a QE3 announcement today.
Platinum is up 1.5%
Palladium is up 2.5%
Crude is up 1$
Gold is up $15 (from COMEX close)
Copper, Corn, wheat, soybeans- Up, up, and UP.

And again, silver down 3.5%!

Gonna go out on a limb and call this a preemptive smash in an attempt to control silver's move in the aftermath of a QE3 announcement at 2:15pm, as silver must be contained and kept from passing $42 today, or it will run to $50. 

Again, for those interested in sharing their feelings with Blythe, feel free to visit her personal blog.
If QE3 is indeed announced this afternoon, it will be interesting to see if the cartel is successful in preventing a pop above $42.