More downside risk to short term PMs prices

[pmbug]

Both post and commentaries at Trader Dan's blog highlight factors that are weighing down on the PMs at the moment. Looks like they will continue to be on sale for the near term.

http://traderdannorcini.blogspot.com/2014/09/strong-dollar-finally-catches-up-to-gold.html

 

[ancona]

19 seems to be the line in the sand for now. I agree that TPTB cannot permit metals to soar in the near term, but I truly believe that in the medium term [1st Q '15] they may begin to lose control.

 

[rblong2us]

Trader Dan and Turd recently had a proper bitch fight going with Dan arguing that charting has always worked and Turd arguing that with so much suppression of PM's, charts were totally irrelevant.

I really dont have a clue who is more correct and am rather fed up with all those predictions that we are days or weeks away from prices correcting.

It may be that they can find enough gold to keep the suppression game going for ever, especially if China and India play along ( and they have some incentive to do this )

Recall how they played the oil producing arab states and shafted em every way with gold purchases and sales ......

 

[pmbug]

I think it's pretty clear that 800lb gorillas can monkey hammer the markets at times, but they don't (and can't) do it over long sustained periods of time without consequences. I think they do it in short bursts to try and change momentum (stops/calls, trading signals, etc.). There is still a market, however broken in the wake of MF Global, et. al. scaring smaller players out of the picture.

I think there is value in reading both Trader Dan's and Turd's thoughts.