A good time to buy was Sunday night. There were still a few 100 oz bars for < $3200 delivered and gov't 1 oz < $32.50. Forget it today. I am waiting for the smackdown to buy some more. I don't wanna chase it.
Platinum is getting ridiculous too. I think we are being conditioned to shortages and then availability at a higher price. First victim was ammo.
I wouldn't read too much into it. It's options expiration on the globex/crimex. The banksters are whacking "commodities" on their faux exchange to re-adjust their positions. Stack physical at lower prices while these vampires are creating a fire sale with their paper fictions.
Paper platinum was just taken down by nearly 5% in a few minutes because a few bullion banks decide to dump paper fictions onto an order book of paper fictions. These so called commodity markets are a farce.
Here's a smart guy telling you precisely what happened, and even showing video of the same guy(Marcus) predicting precisely what happened today...yesterday. Pity there are no regulators that actually care about putting an end to this blatant manipulation, and instead choose to extort payments from the crooks while "deferring prosecution".
It smacks of other subtle rule-changes made by the House, though, to favor themselves and their big players. If there's one common theme we've seen, from Robbin' Hood to revocation of Glass-Steagall to QE-ZIRP, it is that the market is being transformed, from a true capital market where anyone may enter according to understood rules, to a casino intended to fleece "Muppets," little investors without connections or political pull.