There is a regular war going on in the Precious Metals Market. There is heavy buying for one and also heavy shorting. There are nearly a billion ounces of silver shorted and big buyers such as Drukenmiller have bought back their positions. The Russians are buying and the Chinese are sweeping up every oz of gold they can. India is in a state of financial throws that was initiated by the withdrawing of India's largest currencies. PM Modi is a willing tool of the Bank of International Settlements and is largely responsible for knocking back the gold price; first by making it hard for Indian firms to buy gold and second by invalidating the two largest bills. The government's promise to crack down on the process of exchanging the bills just made matters worse. Long lines and chaos resulted. Now, the exchange process is delayed so Indians can't use their currency. The Indian govt will rue the day they when it subordinated the interest of its own people to the interests of the BIS and the FED. Gold is still flowing into India, just unofficially and at a premium. Here is what their policies did to India:
The Banksters managed to cap the price of silver, but it is not an easy thing. Unlike gold (most of which stays around for centuries), silver is used up so there is no large pool in the banks that can be dumped.
Yesterday we saw an interesting anomaly. While silver came up and did not back off in the off hours, silver miners fell during the day when silver prices were rising. Wonder if this is a response to the large short positions out there.
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