Afternoon everyone ….
I just decided to take a quick break on the job and opened up my phone. When I opened it up, there were 32 alerts that I missed.
What were the alerts…
They were bomb dropped on me by both Kitco and the Bullion Vault. Telling me that both silver and gold are getting destroyed today. I don’t have time right now to look and see what is causing this pretty substantial drop in both metal prices. But it’s a pretty big drop for sure.
Here is the gold chart from Bullion Vault.
Now here is the silver chart also from Bullion Vault.
This are 24 hour charts. So all of this drop has happened since 6:00pm Eastern Standard Time yesterday when the Asian market opened. These are really big drops to open the trading week. I wonder what we are in store for if the news is really bad.
I need to find out but I need to get back to work as well.
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Usually when my phone blows up like that it's something with the crypto markets and I don't see it until about four hours past when it actually happened!
Talk about a serious slap down there. What an odd way to start the week. This could be interesting!
A combination of a strengthening USD, Profit taking, lack of things blowing up overseas and helped by old fashioned monkey wrenching teamed up to take the metals down but not for the count! Fundamentals are still intact, I call this another buying opportunity.
The US dollar was only up .09 today. That’s no way what destroyed metals. It’s a bunch of smoke an mirrors bullshit. Gold & silver have been climbing the entire time the US dollar has been climbing. So it’s definitely not that this time.
I try not to pay attention to the news too much, so I haven't seen what may have caused this. Let's see if it pops back up in the next few days.
Let's see what will happen, @silverd510 !