Alphonsus,
I don't think it's an arm wrestle as much as it is a serious, patient accumulation of Gold against a backdrop of data that normally would see POG way down. The accumulators very careful not to break resistance. The bears are being toyed with here, they must be scratching their heads thinking what else do we need to do.
The fact resistance isn't being broken tells me they want to accumulate more, they don't want price getting ahead of them for the moment. When they've had their fill, this is going to break hard. One misstep from Trump, same result.
Either that, or they're putting on a great show that will suck us all in before the dump.
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