from TF Metals Report:
Wow! A few years back, the early release of The Fed’s latest FOMC minutes to a handful of their friends would have sparked outrage. Now it’s just…whatever. Everything is so freaking corrupt anymore, nobody even cares.
So I guess now we know why gold rolled over yesterday afternoon, after such a staunch rally. And I guess we know why it was sold overnight. Throw in the very-well-timed Reuters report of a 9-10 metric ton
confiscation sale of Cypriot gold and whadayaget? Gold down $20+, that’s what you get! A very well-played Cartel hand of observing some Spec short-covering yesterday and then drawing them right back in today. One of these days, a rally will finally establish some momentum. A new UPtrend will begin and the Specs will begin to feel some serious pain. That day is NOT today, however.
Here are some updated charts. As you can see, I printed them before another paper bomb was dropped on the Comex a few minutes ago. Oh, well. I guess we’ll just keep an eye on things here and see just how far the can beat it down. As I type, I’ve got $1558 and $27.58. As a side note, I was encouraged on Monday that silver held much better than gold and it is doing so again today.
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