The Raids Continue and the Banking Cartel facing a Brick Wall/French banks downgraded

The world is now realizing that manipulation and control of the gold and silver price is mandatory by the bankers. I am afraid that they will continue to bash gold and silver until Greece implodes.
Many are starting to question the obliteration of free markets.

The price of gold was hit early in the session but rebounded nicely before comex closing time. Gold finished the comex session at $1823.50 for a loss of $3.30 and silver finished at $40.47 for a loss of 66 cents.
The world continues to burn as Moody's has just downgraded two of the major French banks (discussed below). It seems that nobody is allowed to default as one default will bring everyone down.

Let us head over to the gold comex and assess today's damage.

The total gold comex open interest fell by 5003 contracts despite the fine showing by gold yesterday.
I guess a few bankers covered their shorts as they did not like witnessing the turmoil the world is facing. The front options expiry month of September saw its OI fall from 292 to 95 for a loss of 197 contracts. We had 214 deliveries yesterday so the entire loss in OI was due to those deliveries and we still have an increase in gold ounces standing. The October front delivery month in gold hardly budged falling from 33,207 to 32,606 with a little over 2 weeks before first day notice. The big December contract saw its OI fall from 344,222 to 338,916 and it was here that the bankers lighted up on their shorts. The estimated volume today was quite good at 164,971. The confirmed volume yesterday was also pretty good at 198,669

The total silver comex continues to trade in a narrow open interest channel. Today we got a reading of 112,726 for a loss of 390 contracts with a rising silver price yesterday. The bankers are starting to realize that they are banging their heads against a brick silver wall. It seems that nobody wishes to vacate their longs.
The big December contract saw its OI fall by 600 contracts from 76,447 to 75,890 as some bankers thought the arena was too steamy for them. The estimated volume today was very very light at 35,186.

The confirmed volume yesterday was also light at 40,064. (more)