harveyorgan.blogspot.com / January 29, 2013
Good evening Ladies and Gentlemen:
Gold closed up $8.30 to finish the comex session at $1660.70. Silver also rose by 40 cents to finish at $31.16. Tomorrow is the release of the FOMC meetings and generally the thugs manipulate gold around this event. Gold/silver equity shares fell in the afternoon despite the rise in the precious metals. This is generally a good sign that the boys will wish to attack. Also remember that Friday is the non farm payrolls and they always fool around on the preceding day or the day itself. The bankers are free to do anything they wish as the regulators are fast asleep and not paying attention to any of these manipulations.
In other news, the shorts in SLV and GLD increase again. These have no backing of gold or silver behind them. The SEC will do nothing on this matter.
In the USA, student loans will probably hit 1 trillion USA dollars when the figures are released shortly.
However data seems to suggest that default on these loans is north of 20%. Thus the total problem loans equates to 200 billion dollars equivalent to what happened in the subprime mess.
We will discuss these and other stories but first let us head over to the comex and assess trading today…………