As of 11:55 CT gold spot is $1,294.00 and silver is $19.71.
From March 14 thru 11:55 CT today, the Fed and its bullion bankers have successfully hammered gold for a loss of $96.00. Silver is down $1.68.
We remind our readers that the Fed was for the most part successful at holding gold in the $1,200-1250 range from Nov. 20 thru Jan 22.
How long the Fed will continue to manipulate the gold markets is anyone’s guess. When there is enough outcry from investors who demand physical delivery of their gold, the gig will be up. Germany may never see all of their physical gold holding’s returned as the Fed prefers to keep its own vaults filled. Especially with gold it didn’t have to purchase.
In 2013, we called the gold floor at $1,200 and still maintain this belief. It cost 75% of the world’s mining companies $1200 to produce one ounce of gold. Were the Fed to push prices below this threshold for any real length of time the result would be an incredible upswing in prices.
Debt-ridden global economies have guaranteed that gold is here to stay. It’s still insurance and Fed manipulation won’t change this reality.
Gold Goliath is not your typical gold dealer.