Gold was hit as well but has recovered all of the smash. Here's an update...
UPDATE 1: Gold has recovered all the price smash and then some:
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Oversold means that the move is likely running out of steam.
Silver is more than oversold. It's pushing "extremely oversold":
Both the RSI and the MACD are indicating it's a great time to buy some physical.
Gold is oversold but not to the same degree:
Specifically, the Relative Strength Index (RSI) has held up but the Moving Averages Convergence Divergence (MACD) is signaling oversold.
With the markets light trading volume leading up to the price smash, it was easy to strong arm:
After last evenings gap-up and a break above $1300 in gold, seems the cartel has had enough:
Palladium ain't buyin' it:
Platinum ain't buyin' it either:
The dollar is only relatively stronger today than yesterday. It's not "surging", it's just on a bounce after falling for days:
Meaning the price smash in the metals may be short lived.
After yesterday's trading, the GSR is back above 76:
Meaning it takes 76 ounces of silver to buy just one ounce of gold.
The cartel seems hell-bent on keeping gold below $1300 and silver below $17. The effort is futile in the long run, and their smashes of late are very short lived, which means this one most likely is too.
For a visual example of what the cartel is up against, this seems appropriate:
How demonetisation stopped the black money market. pic.twitter.com/X46GnV7UF6
- Bollywood Gandu (@BollywoodGandu) September 11, 2017
Stack accordingly...
- Half Dollar