$1240 Cap

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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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$1240 Cap

posted on Aug 27, 2010 09:11AM

NY is still obsessed with enforcing the $1240 cap on gold and the $19 cap on silver despite the poor but "better than expected" GDP data. Consumer Sentiment comes out at 10:00 am which may or may not reinforce precious metals. Of course, Helicopter Ben makes his mountain speech today as well. Lastly, the mystery buyer may emerge again today in the precious metal pits to massage the NY cartel. The PPT will go out of their way today to support the 10,000 DOW level.

Closes today above the present caps would be very bullish and indicate the NY cartel is on the defensive once again.