COT report is out.
Commercials covered a net 24,000 Gold contracts indicating at least some of the previous gains were due to a price take down for pure profit.
Silver is the interesting one where the Commercials have covered only about 1000 contracts.
Quite often there is a trend change in June and as we are entering June moving to the downside, caution from my perspective is still required.
Anybody expecting a significant move to the upside is likely to be disappointed.
With Austria announcing that they are repatriating Gold and moving their remaining Gold to Switzerland from England shows how much confidence the Austrians have in the UK.
The Europeans have finally woken up to the corrupt war machines of the yanks and the Brits.
The Bond Market has begun to show signs of stress and will continue to do so untill it breaks.
The FED and other Central Banks look like they are going to fight to the death to hold Gold.
The Central Banks are going to loose.
What breaks first,the Bond Market or the Gold Market.
Once one goes the other will follow
