Kryton 619 Budda boom budda bing....and just like that the poor job numbers mean nothing. As I mentioned on April 4th the FOMC minutes were released and of course TPTB took the opportunity to knock PMs down as they typically do.
Kryton 619 With the terrible job numbers that was announced on Friday morning, we should expect PM prices to rise on the open of the Globex on Sunday evening. Remember back in February and March with stronger than expected job numbers silver and gold prices were slammed lower. Along with this month's jobs numbers, they also lowered those numbers by approximately 70,000 jobs.
We should have a strong start to the week....but keep in mind the FOMC minutes will released on Wednesday, which the bullion banks usually use to slam price.
Kryton 619 With a turn of the page on the calendar and with options expiration and the 1st quarter in the rear view mirror, it looks like the PTB have taken their foot of prices. Is there any free markets left in this world?
Kryton 619 The bullion banks had to work hard this morning to get the price back to their sweet spot prior to the Comex close. If you watched the trading this morning, you will have noticed how perfectly they managed price down and held it to close at $1,204.80. Mission accomplished!!