A new bull market has started for gold and silver.
That’s a pretty strong claim. It’s one I’m hesitant to make because the past 7 years for these metals have been marked by constant disappointment as “someone” continuously slaps the prices of gold and silver around — mainly downwards — for fun and profit.
We now know that a huge amount of this abuse has been due to “traders” at big banks rigging the gold and silver ““markets.”” We’ve been decrying that all along, but now it’s common knowledge.
We should be hardly surprised to discover that the legal system and nearly-blind regulatory bodies (CFTC and SEC, mainly) are busy protecting those same banks from experiencing anything more than a very light financial slap on the wrist for their illegal actions.
More on that in a minute.
So what makes me want to call the new bull market for gold and silver right now?
One of the things that I look for is a failure of the past criminality to work anymore. Which is why I keep a keen eye out for failures of bear raids in the thinly-traded overnight markets.
Last night (7/23/19) was one for the books. Truly massive bear raids for both gold and silver that failed, not just slightly, but spectacularly given the ammunition deployed.
For gold, there was a truly enormous raid that began with some testing at 8:00 p.m. (ET) and really went bonkers at 9:05 pm:
The volumes exceeded anything seen during the recent open market hours, which is highly unusual. Doubly unusual is the fact that gold sprang back up and did not ‘flat line’ at the new price point set by whichever trading algos/entity(ies) were responsible.
After wobbling down for a bit, gold was given another swift kick in the backside at 1:30 a.m.
by tourcarve 
