By Michael Noonan
GoldSeek
However important underlying fundamentals are, in terms of supply v demand, they have been and continue to be of little to no use in determining when reality will reenter the market. When that happens, price will adjust and reflect the true picture of gold and silver’s record [demand]accumulation.
All that matters for now is the political situation involving the moneychangers and their puppet government regimes giving them cover during the end game of their world-wide theft. Just last Thursday, we saw once again another smash-down” in gold futures. At one of the best possible times to assure liquidity and excellent execution, 1,500 contracts were sold around 5:30 a.m., CST. Who needs to worry about getting good fills when the only objective is to intentionally move the market lower?
In the past few months, we have acknowledged leaning to any price turn taking a year, or more, rather than sooner, and market activity continues to bear that out. No matter what the latest “news” development is for PMs that paints a rosy picture, those in the fundamentalist camp are looking through rose-colored glasses to expect change in the near future. The charts continue to tell a more accurate story that belie all known| fundamentals, and the charts shown here depict a market in decline with no apparent end in sight.