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no us stock market open with the holiday, will we see a foreign attack on metals during limited open market trading?

There was a brief attempt in the early morning, probably London-done. They weren't very successful, yet.

Looks successful to me. Knocked ten dollars off of gold and seventy five cents off of silver... and they aren't done yet.

They affected the prices, temporarily, but when I noted lack of "success" its in that they failed to get gold below the previous close, and both are now coming well back off their lows. So it's a strong market, with buyers overtaking the shorts.

No explanation. Just my gut feeling. Tuesday Gold goes down $75 and Silver closes $1.75 down.

I think gold walks down all day. Silver drops $2.25 and climbs back to close $1.75 down.

Since your my contrarian index Pete, I'll go with Gold hits 1950 and silver breaks 45 again...

Hummm, looking like a down day.

Down day for overall market; Dow down 270 as I write this. I'm thinking it's an up day for PMs. They (TPTB) did due their best, three tries, to short the PM last night and night before, but it is overcoming them. Gold back over 1900 as I write this, and silver moving back up again as well.

slickeast wrote:No explanation. Just my gut feeling. Tuesday Gold goes down $75 and Silver closes $1.75 down.

I think gold walks down all day. Silver drops $2.25 and climbs back to close $1.75 down.

Day's not over yet and it didn't quite do the above, but you (so far) were closer to right than I was!

This was a big take-down attempt day - I did expect it, but didn't expect them to be so relentless about it. They kept on and on at it, all day.

68Camaro wrote:

slickeast wrote:No explanation. Just my gut feeling. Tuesday Gold goes down $75 and Silver closes $1.75 down.

I think gold walks down all day. Silver drops $2.25 and climbs back to close $1.75 down.

Day's not over yet and it didn't quite do the above, but you (so far) were closer to right than I was!

This was a big take-down attempt day - I did expect it, but didn't expect them to be so relentless about it. They kept on and on at it, all day.

Yeah... but they have to fill these shorts at some point, so it's a zero-sum game. Given time, the PM market will return to equilibrium, much higher than at present.

It has got to be disheartening to them to see gold STILL at or above 1880 and silver STILL above 42, after 4 significant attempts to create the same type of panic as they've been able to do in the past. There has clearly been a change in buyer mood, and they've got to be thinking about that. "Where do we go from here if people keep buying" has got to be running through their minds.

Not as bad of a day as I thought it would be. I still think they are going to keep at it all week. 3 weeks from now we will be having talks about $2000 gold and $50 silver.

slickeast wrote:Not as bad of a day as I thought it would be. I still think they are going to keep at it all week. 3 weeks from now we will be having talks about $2000 gold and $50 silver.

I'm prepared to consider that you may be correct. May do some AM selling and prepare to re-buy, depending on what happens tonight.

Ok, it's taking 2 days to do the damage I thought would happen in 1. I still got the feeling that they will be swinging big hammers all week to see how much damage they can do.

They figured out how to drop both gold and silver by about 5% over the last three days, anyhow.

Well at this point i hope they can swing a couple more big hammers to drop the price a couple more bucks for a better reentry point to buy more.

I am impressed with silvers resilience. It has climbed back up from the initial beatdown.

slickeast wrote:I am impressed with silvers resilience. It has climbed back up from the initial beatdown.

I suspect TPTB have to be a bit stunned also, though they have had an affect. But for all their work they've only knocked it down a buck and change over two days? Percentage wise that's 4ish percent. OK, they moved the market, but not by much. That's gotta have them wondering what they've got to do to make a serious dent in it. Again, I'm selflishly hoping they can move it a bit more during regular market hours for at least a few moments, down to at least 39, because I've got some buy orders that kick in at 39 and below. I outsmarted myself today and sold a chunk (at a profit, so I can't complain, but... my daughter held on, didn't sell, and she came out better for it - good for her) below where I should have, so I would like to reload on their nickel at a still lower price.

I am looking for gold to go into the $1700's and stay there today. You might get your $39 silver friday.

Still thinking that the 3rd week of sept will put gold at the $1950 range.