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Sunday Sentinel
Gold and Silver Volatile on Globex Opening

Sep 1 Silver tests $23 while gold plunges over $20. Both metals are bouncing of their lows but more volatility is expected over the extended holiday weekend. Also, below are Friday aftermarket comments from Franklin Sanders and Harvey Organ.

Aug 30 Silver & Gold Prices Completed the First Furious Leg of their Rally F. Sanders
Silver and GOLD PRICES completed the first furious leg of their rally this week and began a little correction. Today gold dropped $16.80 to $1,396.10, yes, below $1,400. Silver lost 62.7 cents to end Comex at 2346.3 cents.

As long as the GOLD PRICE remain above $1,350 (most likely target for this correction) and the SILVER PRICE above 2200c, metals remain in rally mode, and that is what I expect. Very small chance exists that they might make one final leg down as low as the June lows, but I don't expect that. All the same, humility requires that I mention it....

Aug 30 Daily Report Harvey Organ
Gold closed down $7.00 to $1391.10. (comex closing time ). Silver was down 63 cents to $23.46 (comex closing time). In the access market today at 5:15 pm tonight here are the final prices: Gold: $1396.50, Silver: $23.53.

Yesterday, I wrote the following: "Generally gold and silver rise on first day notice which is tomorrow. However please keep in mind that tomorrow is Friday and also the start of a long weekend where trading is light. Bankers love to hit again when trading volumes are thin. It is very difficult to play the leverage game with the crooked Comex."

Sure enough our bankers showed up in brute force at 3 am est in London and forced gold down. Every time it tried to recover, the bankers whacked again and this right under the watch of our clueless regulators.

However, on Tuesday everybody will be back from their holidays so expect a lot of fireworks as investors do everything in their power to convert paper gold/silver in the real stuff....

 
 
 

 
 

 

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