On February 28th, as gold had risen 3.6% rise in just several days and silver had risen an incredible near 12% in just a few days, there was some excited chatter in the blogosphere that the bullion banking shorts in the precious metals were possibly on the verge of being run over. We respectfully disagreed with this view, and that day, we sent the following warning to our Platinum Members.
"We still need to be wary of another pullback in price over the next week or so due to some factors I have been following. Firstly the bullion banks' ( ) interest clearly is to suppress price right now and not to unwind their short positions."
"Be wary of a possible correction in gold and silver because of the conditions I have pointed out above. Again, warning signs do not always play out, but for sure, the banking cartel is seeking to raid silver again…Watch( ) the support lines I have laid out in gold/silver assets…(to) provide guidance."
[Related -Defensive Sectors Lead Hesitant Market, But Traders Honor Long-standing Bullish Support]
Just one day after I warned my Platinum Members that a silver raid was "probable", the banking cartel struck and dropped silver by a whopping 6.20% and gold by more than $87 on February 29th. Though we would like to tell you the full details of our special alert above, we are bound to reserve the much more detailed information regarding our above warning for our subscribing members only. Will this initial raid develop into a much bigger and deeper raid soon? Currently, it's still too early to tell. But join us, as members in 33 different countries have, and we'll provide the guidance you need to wisely navigate the Central Bank manipulation schemes of gold and silver prices.