With expectations having been raised so high for today's BLSBS, it was no surprise that the number "disappointed". Anticipating this, late yesterday we suggested one of two possible outcomes. Lo and behold, we got both!
Again, what continues to amaze me is the amount of purported "analysts" who claim that gold and silver trade in "free" and "fair" markets, utterly unaffected by the manipulation so clearly and demonstrably present in equities, treasuries, currencies and LIBOR. The only conclusion I can draw from those who deny metal manipulation is that they are trying to curry favor with the establishment and the mainstream media. Perhaps these folks hope that, in denying the ever-present hand of manipulation, they'll get on CNBC and/or Bloomberg and get some free PR for their sites, funds and management services.
Perhaps those who deny the manipulation can explain the charts below. Does this correlation simply happen by chance or, perhaps, is something more sinister at work?
You may recall that the BLSBS reports for January and February also "disappointed". Expecting another "disappointment" today, I went digging through my chart archives last evening and reposted the charts below. The expectation was that one of these two bank trading patterns would emerge today following the release of the NFP report at 8:30 EDT.
Would it be this pattern from the January 10th release of the December report? Here we see a rally that is capped at the always-important 1% level.
Or would we have the pattern from February 4th, where price is slammed backward and held down until after the London PM fix?
So, here's today's chart. I'll let you decide which pattern emerged, mindful that these are completely fair markets, free and devoid of bank manipulation:
And now here's a stunner. We actually got The Combo Pack! For once the London PM Fix was in, price was allowed to surge higher. On this updated chart, do you see any similarity to February 4?
Meh...whatever. Let the deniers deny and spin their head-in-the-ground deceit. You and I just need to recognize all of this for what it is and continue to prepare accordingly for the day when it all finally falls apart and the lies are revealed.