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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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Message: Interesting observation on gold/silver prices

Interesting observation on gold/silver prices

posted on Oct 19, 2009 05:06PM

Usually after the COMEX closes at 13:30 EDT the commercial banks help out the Cartel banks and hold prices of gold and silver steady or take them down a few dollars. Today the Cartel drove the early prices down when the COMEX opened and as has become more and more the case the Chinese have bought everything they wanted to sell and we closed up at $1057 and $17.61.

Then the unusual happened and the commercial banks, who are I think the only ones allowed to play after 13:30, have driven the prices up to $1064 (up$7) and $17.83 (up$0.23) as of 17:00 EDT. Whats happening? Why aren't the Commercial banks supporting JP Morgan and HSBC (US) in keeping the prices down? Does this indicate a breakout is coming or are the Cartel just trying to suck as many in as possible before they crash the prices to cover their shorts?

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