Afternoon everyone….
As predicted by several sources in my podcasts, the precious metals market got crushed right out of the gate.
Ten minutes after the Asian market opened gold had dropped nearly $80 and ounce. It hit a low of $1691 during that massive drop.
I was watching it plummet live on Kitco.
Also as predicted by people in the know……
I tested out trying to make a purchase after gold dropped below $1700. And just as they all said the dealers websites would not allow you to purchase anything. I tried three of the top bullion dealers sites.
The first you could not complete an order of what was in your cart. The second had everything listed as out of stock. The third had only a portion of their items for sale and the premiums doubled.
This week is going to be a very turbulent week. $1650 gold or lower could be seen. Exactly where it closes Friday is going to be very interesting.
If you have some dry powder laying around this weekend might be a good time to grab some metals……
Here’s a screenshot from Bullion Vault showing the low and how quick it happened.
