When it comes to the gold market we have certainly seen a number of shenanigans over the years. Below is yesterday's ominious warning on gold from a 50-year market veteran as well as an update from the man who made the call.
Ominous Warning On Gold From Yesterday's John Embry KWN Interview:
"These key levels are being defended with fierce resistance by the usual suspects, and the short-term outcome is up in the air because of the huge Comex open interest positions. If there were a commercial signal failure and the shorts were overrun, we could see explosive upside action. On the other hand, those who believe in gold and silver have seen numerous downside smashes when there are this many long positions on the Comex. So you have to be very wary."
Embry's Comment On Today's Gold Smash:
"It will be interesting to see how the gold market responds to this smash in the next couple of days. As gold has been forming a massive base, the smashes have tended to be much smaller and shorter in duration as Western central banks run out of ammunition to carry on the charade. This is just business as usual because we are now in the endgame, but rest assured time is growing short for desperate central planners in the West." ***ALSO RELEASED: Is This The Real Reason Why Key Global Markets Are Trading So Violently? CLICK HERE.
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