The Phaserl


Alasdair Macleod: There is Too Little Gold in the West

by Ed Steer, Casey Research:

¤ Yesterday In Gold & Silver

There was a bit of gold price commotion on either side of the jobs numbers release, but the obligatory sell-off was met by aggressive buying, and it’s hard to tell whether it was new longs being placed, or shorts being covered.

Whatever it was, the vertical spike in prices that started 10 minutes after the release of the jobs report, got capped less than a half hour later, and gold got sold back to around the Comex opening price by the London p.m. fix. After that, it traded in a five dollar price range either side of $1,230 spot.

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