... then in order to cover, they have to buy. That is not what is happening. It is net selling, not net buying.
So, I do not agree with your analysis.
Gold and silver are just having a long-term correction from the top last year, as all things do. JP Morgan is the largest manipulator of the silver market, and they have been manipulating it to the downside, not the upside.
Having said that, gold and silver are better than fiat. But when one entity and its cronies can print money, they can also manipulate markets. This could be a final push down to scare the weak hands out before the next run up, but I would not buy until the downtrend is over.
It ain't over, at least not today (but it's getting close, as today looks like a final push down capitulation move). We'll see.
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