Agoracom: Small Cap Investment - Golden Minerals Company - Extreme Paper Gold/Silver Compression

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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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Extreme Paper Gold/Silver Compression

posted on Oct 23, 2008 05:09AM

Although varying degrees of suppression are always present, the last 10 days have been brutal for paper gold and paper silver. Asia brings the price up most of the time, even on equity selling days, and then London/NY conduct their bear raids on PM's. This has been the extreme trend for close to 2 weeks now.

The USD has failed twice so far at the 86 level overnight so perhaps the upward intervention is finally running on fumes now. We will see how the day progresses. Currently pre-market futures have the DOW down about 120 pts. Interesting point made today by Bill Cara..."Day traders are making a fortune. It is a fact that most of those traders work for banks. Mom & Pop, on the other hand, are having their accumulated wealth, built up over generations, destroyed. Such is the state of the market today."