SG I have to disagree with your gold view on the China news - if anything it opens the door for further stimulus hence more gold positive then negative.
Furthermore imho the take down in gold from $1780 on the day Benny B gave testimony was central planning at its finest , allowing the large commercial ( comical? ) shorts to cover in the $1660 - $1690 area. Open interest numbers on the Comex have plunged - the traders are largely out. Asia is buying the dip - I think gold will take out $1725 next week then its onward to the high $1700's. Of course if things heat up in IRAN then gold will surge through the cap at $1800.........
NCM Price at posting:
$31.95 Sentiment: Buy Disclosure: Held
