golds going higher currently being manipulated, page-34

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October 27 - $740.70 up $12.60 - Silver $9.19 down 12 cents

Gold Continues Comeback Despite Strong Dollar

"If the people are capable of understanding, seeing and feeling the differences between true and false, right and wrong, virtue and vice, to what better principle can the friends of mankind apply than to the sense of this difference?" ---John Adams

GO GATA!

Gold continued its way back up for the second day in a row, and managed to do so despite a very strong dollar. Two for two on that score, which underscores my long held view that the key to the gold market is how physical demand is able to stand up to Gold Cartel selling. That said, a weaker dollar, which is sure to come into play VERY soon, can only put a new stiff wind at our backs and is likely to propel gold back to the upside in short order.

Gold was trounced on the Comex open, dropping to $713. Then, as it does so often, it crept back up due to strong demand for physical gold at the London PM Fix, which came in at $730.50. The price was thrust back time and time again right above the unchanged level, but that selling came up short late in the day as gold spurted higher.




An impetus for the increased buying was gold’s ability to take out a steep downtrend line…






December gold
http://futures.tradingcharts.com/chart/GD/C8

Silver continues to struggle, but it seems to me that silver is ready to go ballistic. There are reports coming my way that silver is pouring into India, and that the Indians are going to London to purchase it, which is very unusual. Combine that surging demand and the tight retail physical market and you have a recipe for a price explosion.

One more thing … silver is SOLD OUT from a technical market perspective. The silver open interest continues to disappear with its OI losing another 259 contracts to 93,724. This is an EXTREMELY low number, as specs have fled the Comex in droves. Some may have left for good, but it won’t take many of them who want back in to send the price sharply higher, very quickly.

Gold took out its downtrend today, silver is likely to do so tomorrow…

December silver.

http://futures.tradingcharts.com/chart/SV/C8

The gold open interest fell 1,666 contracts to 317,916 on Friday’s major reversal. This tells us that some of The Gold Cartel folks took the opportunity to cover more shorts when gold took out $700. As mentioned, gold traded on Friday like someone wanted out in a big time way, which is why gold spiked to $745.

Adrian from somewhere in Africa…

Bill,
Don’t be surprised to see the Cartel busy in the next two days….

Oct. 28 Comex November gold options expiry

Oct. 28 Comex November silver options expiry

Oct. 29 CBOT October gold futures last trading day

Oct. 29 CBOT October mini gold futures last trading day

Oct. 29 Comex October gold futures last trading day

Oct. 29 Comex October silver futures last trading day

In addition the FOMC makes an interest rate decision on Oct 28.

There are no markets, just interventions!….

The WSJ hints at Central Bank manipulation. They fail to mention that the retail trade is sold out!

http://online.wsj.com/article/SB122505652693270101.html?mod=googlenews_wsj

Cheers
Adrian