Gold Daily and Silver Weekly Charts - Brutal Sell Off

What is going on in the precious metals markets is apparent to those who look at the trading patterns, the volumes, and the open interest.

The only thing that is lacking is the exact reason, the motive for this, the disaster that has been averted, or the corruption and decay that is being concealed. 

The trading gains are the pay for the hired hands. 

SP 500 and NDX Futures Daily Charts - Sell Off on Weak Global Economic Data

Late in the afternoon there was a bombing incident at the Boston Marthon that took the already sold off stocks a bit deeper.

VIX spiked up sharply. I took some hedges off.

Breaking News: Two Explosions Rock Finish Line Area At Boston Marathon

Reports are mixed, but the latest is that the explosions occurred on Boylston Street across from the Boston Public Library.  This is very near the finish line of the Boston Marathon.

A photo of one of the explosions was put on twitter.  It is shown below.

Police are evacuating the area and have put the nearby Fairmont and Lenox Hotels under lockdown.

Secondary devices have been found in the area.  This appears to have been a deliberate event.

At least one of the explosions is said to have come from a trash can.  

Two explosions at Boston marathon finish line
From ASSOCIATED PRESS
3:05 PM, April 15, 2013

BOSTON — Authorities are investigating a report of two explosions at the finish line of the Boston Marathon.

There were two booms heard from near the finish line inside the Fairmount Copley Plaza Hotel.

Race officials locked down the hotel because of the report.

The sound of two booms, which sounded like thunder, had come a short time earlier.

Net Asset Value Premiums of Certain Precious Metal Trusts and Funds

As Bloomberg TV said today, 'gutsy call by Goldman Sachs to short gold last week.'

As you can see the premiums are generally negative. We have not seen anything like this in quite some time.