One Of The Greats Just Warned The World Is Now Heading Into A “Perfect Storm”
KingWorldNews.com
August 29, 2017
On the heels of global troubles intensifying, today one of the greats just warned that the world is now heading into “a perfect storm.”
Overcoming Resistance
John Embry: “Eric, I must say that we have a much better tone to the gold and silver markets since we last spoke. They overcame massive resistance from the usual suspects to post impressive gains on both Friday of last week and Monday of this week…
Manipulators Hard At Work
John Embry continues: “On Friday, as gold was challenging to break through the critical resistance in the $1,300 area, some non-profit motivated seller sold over 20,000 contracts in roughly 2 minutes on the Comex, knocking the gold price back $12. To put that in perspective, some party sold over 2 percent of annual gold mine production in 2 minutes. That’s ridiculous.
However, gold’s rapid bounce back from a quiet August Friday indicates to me that the market is definitely changing character. On Monday, gold came out of the box strong, somewhat unusual in comparison to many recent Monday’s when the anti-gold Cartel put pressure on the price in order to diffuse any emerging excitement. From Friday’s Comex close to Monday’s, the price of gold rose by over 1.3 percent. By itself that is relatively impressive, but this rise occurred in spite of an increase in open interest of some 23,000 contracts, representing a notional 2.3 million ounces of gold. Any other commodity facing this sort of selling pressure would have buckled, indicating just how strong the gold and silver markets are in the process of becoming.
The Rest…HERE
