I think we need to just stop watching the POG from the Gold futures market. After all that is not the GOLD market, the Gold market is the trade in Physical Gold and the premiums that occur around the world. The Gold futures market is simply very much like the Bitcoin market, just a lot of imaginary trading of paper. Comex is broken and last year the GOLD lost 445 tons of Gold via redemptions. It only has about 800 tons left. If the world keeps fleecing the U.S. of Gold the GLD could be bankrupt inside 18months.
JUST WATCHING ABC NEWS MARKET REPORT as I type.
They are saying that the market is starting to become aware of the falling corporate value and rising markets and money is moving away from the markets. Also the U.S. housing market numbers have fallen again. They say the Markets may go higher for a couple of months but that buyers are pulling out of the market.
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