ed steer comments on how the ppt influenced not only the metals markets yesterday, but also the mining shares:

In early morning Globex trading on Monday morning in the Far East, the only person awake at that time was on their cell phone selling gold contracts out of Western Samoa. They tagged gold for $10 before the good folks in Sydney and Hong Kong even had their clothes on. Silver had a really wild ride...in both directions. As per usual, the activity got going to the upside once the LBMA was open and the Europeans and Brits went at it. Both metals did exactly what one would expect in this environment. However...and as per usual...the boyz on the Comex were laying in wait. Gold was allowed to rise some more...until the London p.m. fix...but silver was killed on the open. Gold bottomed at 12:00 noon in New York and silver bottomed at the London close. Silver rallied until the Comex closed...then the boyz went to work in after-hours trading on the Globex....virtually eliminating all the silver gains from the London open...and by the time they were through with gold, all the gains during Comex trading had been eliminated as well.

I think the boyz showed up in the gold and silver equity market as well. The shares spiked up sharply right at the New York open. Then they were hammered mercilessly...and almost instantly...but managed to make it almost back to unchanged before selling off with the rest of the equity market yesterday. They only recovered once the PPT showed up to rally the Dow just before 3:00 p.m. In case you think that the PPT wasn't around yesterday, here's the following from The King Report earlier this morning..."After stocks declined to an 800+ DJIA decline, rabid SPZ buying appeared. CME sources cited the usual suspects. The buying smells like PPT and it was necessary. Solons desperately wanted to close the DJIA above the key psychological level of 10,000 before Asian markets opened and the deflationary spiral intensified."

http://caseyresearch.com/displayDrp....