COMEX gold and silver raid taking place.

[PeacePlan]

With gold and silver options expiry next week on the 28th the prices will now fall.

First they come in and naked short sell all the mining stocks as this is all paper and costs nothing. Traders see this and will start selling off the real physical and the hedge funds computers will kick in sell signals and they will dump their physical.

The raid happens every options expiry that I have been watching for the last 10 years!

Pay no attention to it and consider buying physical next Monday or Tuesday to get the best prices.

I always hope they will fail and some day they will - but today I would bet on a big decline for the next week..

Hang in there and keep buying and use this as a time to get more..

I could be wrong as nothing is for sure but this is a good bet of what is going to happen.

[GunnyFreedom]

Cool -- do please reiterate this on the forums next Monday and Tuesday for those of us with a crazy schedule and no spots left on the calendar....

[NickLeavens]

PeacePlan,

Thanks. Wouldn't it also make sense at that point to look at the mining stocks themselves?

[Pennsylvania]

PeacePlan, I've followed your advice once already and it's really worked out for me. I'll be following it again if I don't forget. Keep up the good work posting this useful info.

[hugolp]

Gold just took a hit moments ago.

[LibertarianfromGermany]

Gold just took a hit moments ago.

Silver took an even bigger hit; was up about 1% and is down almost 2% now.

[Dr.3D]

This is the typical way they do business.

It's a wonder people everywhere haven't found out about it and beat the banks to the punch.

[psi2941]

With gold and silver options expiry next week on the 28th the prices will now fall.

First they come in and naked short sell all the mining stocks as this is all paper and costs nothing. Traders see this and will start selling off the real physical and the hedge funds computers will kick in sell signals and they will dump their physical.

The raid happens every options expiry that I have been watching for the last 10 years!

Pay no attention to it and consider buying physical next Monday or Tuesday to get the best prices.

I always hope they will fail and some day they will - but today I would bet on a big decline for the next week..

Hang in there and keep buying and use this as a time to get more..

I could be wrong as nothing is for sure but this is a good bet of what is going to happen.

can u give me a link that tells me about all these comex/jpmorgan? I don't know how the system works, so a link that gives me the 101 and how u can tell if silver will go up or down.

[eric_cartman]

very nice call OP

[Original_Intent]

Yes great timing on that post.

[puppetmaster]

even the news the Saudis have been hoarding gold has no effect.....
http://www.cnbc.com/id/37819518

[Dr.3D]

So now that they are pushing down the price of the precious metals, why are people still buying while they should know the price is going to go down further. Are people really this stupid?

What I mean is, if you look at the price of the metals today, you see it going back up and we should all know it isn't finished going down yet. Shouldn't people just wait till the banks have finished raiding the pot and then push it back up so the banks can again reap their harvest next month?

[PeacePlan]

So now that they are pushing down the price of the precious metals, why are people still buying while they should know the price is going to go down further. Are people really this stupid?

What I mean is, if you look at the price of the metals today, you see it going back up and we should all know it isn't finished going down yet. Shouldn't people just wait till the banks have finished raiding the pot and then push it back up so the banks can again reap their harvest next month?

Who knows? Maybe this will be the time they fail? Watch the mining stocks they tend to hit those first and then sell short on COMEX

I would love to see them fail and it also scares me. I consider this the canary in the coal mine and when this fails I think the end is near for all paper assets. To me it means the whole banking system and the fiat game are at an end?

[PeacePlan]

One of thyese times the price will not go down but instead explode to the upside IMO

[The Freethinker]

I will closely watch expiry dates for gold and silver for quite some time from now on, and will buy even if it's only a little every time it happens, if the pattern of prices going down continues to hold.

[Uriel999]

I hope your right so I can get some cheap silver next week! I would love to get some ASE's for under 20 bucks a pop.

[devil21]

Neither silver nor gold are going down much, if at all. When do you expect the real downward pressure (as in spot prices falling) to start PeacePlan?

[Mahkato]

So hasn't someone somewhere put all of this on a chart to show the last 10 years' price dips synced up with these dates? Or is it not that correlated?

[GunnyFreedom]

Neither silver nor gold are going down much, if at all. When do you expect the real downward pressure (as in spot prices falling) to start PeacePlan?

my impression from the OP was to watch for the dip on the Friday-Monday-Tuesday coming up

[Dr.3D]

my impression from the OP was to watch for the dip on the Friday-Monday-Tuesday coming up

Looks like the actual dip started yesterday. I don't expect to see any increase in the prices of the metals till after the old contracts expire.

[tmosley]

my impression from the OP was to watch for the dip on the Friday-Monday-Tuesday coming up

That is unlikely. Options expiration is on Thursday, so that is the time that it is likely to be at its lowest. I would suggest you buy Wednesday PM, as the folks trying to break the COMEX are going to come in on Thursday. I'm not sure that the COMEX will be able to defend itself this time. It was only able to win by a few cents last time.

[GunnyFreedom]

Wednesday night, June 30th?

[tmosley]

Wednesday night, June 30th?

That is when I will be watching. If there is another big drop, I will pull the trigger on my next purchase. Friday and later will probably too late.

[AmericasLastHope]

From Harvey Organ's site...

Silver
Withdrawals from Dealers Inventory ZERO oz
Withdrawals from customer Inventory 1,607,906 oz
Deposits to the dealer Inventory N/A
Deposits to the customer Inventory N/A oz
No of oz served zero
No of oz to be served xxx

Gold
Withdrawals from Dealers Inventory Zero
Withdrawals from customer Inventory 432 oz
Deposits to the dealer Inventory N/A
Deposits to the customer Inventory N/A
No of oz served not supplied not supplied by comex
No of oz to be served 426 42600 oz



There was a massive withdrawal of 1.607 million oz from the customer inventory at the comex. Wow!! There must be a huge fire somewhere at the silver comex.

There are many holders of silver frightened of something (hint: commingling and a comex default). I wonder how many armoured cars are necessary to remove that quantity of silver.

There were no delivery slips issued for silver, so the no of oz of silver remain at 190,000 oz.



Now the all important gold . Remember that June is the official delivery month:

The comex folks failed to give delivery notices today so we stand with yesterdays figures.

Please note the paltry movements of gold out of the gold customer and dealer inventories.

There is a lot of smoke at the gold comex as well!



end.

http://harveyorgan.blogspot.com/

[devil21]

Silver took a beating today. Has it started?

[tmosley]

Silver took a beating today. Has it started?

Just about over, I'd say.

I pulled the trigger a couple of hours ago.

[Dr.3D]

Wednesday night, June 30th?

That is when I will be watching. If there is another big drop, I will pull the trigger on my next purchase. Friday and later will probably too late.

Just about over, I'd say.

I pulled the trigger a couple of hours ago.

I can only assume you meant June 23rd rather than June 30th?

[devil21]

I can only assume you meant June 23rd rather than June 30th?

Im glad Im not the only one that's confused by this thread. Having a hard time wrapping my head around what exactly Im supposed to be looking for and when.

Spot only fell about 40 cents. That's not exactly earth shattering. Gold down about $3. That was it?

[Dr.3D]

Im glad Im not the only one that's confused by this thread. Having a hard time wrapping my head around what exactly Im supposed to be looking for and when.

Spot only fell about 40 cents. That's not exactly earth shattering. Gold down about $3. That was it?

Well, since the start of the week, gold dropped around $25 and silver dropped around $1. I am still thinking they are both going to drop even more before we see any significant rise.

[tmosley]

I can only assume you meant June 23rd rather than June 30th?

Haha! Yeah. I missed that. I meant today.

And by PM, I meant afternoon, but the price doesn't usually fluctuate too much in the evenings.