Bigworld, A nasty smackdown for gold/silver today. Just curious if your sources like Bob Rinear reported any signs of central bank suppression? Thanks.
The dollar had a pretty big bounce today, but this drop in gold seemed suspicious imo. Every time gold starts to get some mojo back, there is a violent reversal. After the big April/May runup, it was threatening to move back to 2000, and got nailed in mid-June. Then the same thing in July, a recovery and now a smackdown. You could see the same pattern last Nov, and then in Jan this year.
Pretty demoralizing for longs, but I guess that's the point of active price suppression. The Fed/central banks want higher inflation, but they don't want it reflected in the gold price, at least not now/yet.