It’s going to be a somewhat abbreviated edition of This Week in Precious Metals, for the simple reason that I ‘stole most of my own thunder’ with what I published earlier today in my formal commentary.

With price-action finally being “big news” again in the sector, readers can get a blow-by-blow account there of what transpired since last week’s edition of this column. At this point, I’ll content myself with merely updating what has been a spectacular reversal in both the gold and silver markets – on a day where we already knew the banksters were going to be launching one of their cliché attacks on the market.

As I write this, the price of gold is just a fraction under $1690/oz; after cresting slightly above that level earlier. This represents a total price move today of more than $40 higher, after falling briefly during the bankers’ raid on the market this morning at 10:00 am (Eastern). Silver continues to take the lead (in terms of total gains), up more than a dollar per ounce to above $31.50, and nearly $1.50 above its low of the day, for a greater than 4% swing.

However, as this was truly a “gold market operation” by the bankers, it was really the performance of the yellow metal that was/is the story today. The bankers tried to push the gold market lower, in an operation they telegraphed all week long with media propaganda – and it failed miserably.

Barring the “unexpected” (i.e. some truly surprising event beyond the capacity of any prediction), the Next Rally in precious metals has now been confirmed. There will be more attacks/attempts by the bankers to drive prices lower in the days and weeks ahead; however we can now expect failure – rather than being apprehensive as to how the market will react.

Ironically, as I’ve written previously, the one thing that we don’t want to see with gold and silver is for prices to explode in an obvious, exponential manner. Not only do extreme moves higher present better opportunities for the bankers to counter-attack (themselves), but such price action provides justification for the CME Group to join in the manipulation game – by looking to bludgeon the market with rapid-fire increases in margin requirements.

I would much prefer to see a similar pattern to what we saw from early 2009 through early 2011, where gold and silver powered steadily higher – but without the extreme moves which create those previously mentioned vulnerabilities. Either way, precious metals investors are now looking at a brand new market, one where prices are now clearly ‘tilted’ toward moving higher.

Posted in News By

Jeff Nielson