Romarco Minerals Inc

Emerging Gold producer - South Carolina, Nevada & Mexico

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thebluenote

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OT: The Expected Bear Raid

posted on Jan 30, 2014 05:47PM

GOLD & SILVER SMASHED THROUGH SUPPORT ON CLASSIC POST-FOMC RAID

JANUARY 30, 2014

Gold and silver have been smashed below support at $1250 and $19 this morning on a classic post-FOMC day raid.

Gold has been smashed $30 to $1237, and silver is down nearly $1 from Wednesday’s trading with a low of $18.93 before bouncing back above $19.

Gold smashed back under $1250:

It appears that the cartel is unable to hold silver below $19 as the metal quickly bounced back to $19.20:

If previous FOMC take-downs are any indication, gold & silver will bottom Thursday morning, and recover throughout the afternoon and throughout the day Friday.
While support at $1250 and $19 have been breached, both gold and silver are still well off their correction lows of $1178 and $18.

We suspect this morning may prove one of the best entry points for physical gold and silver in the near future.

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