Some very, very big banks have thousands of short contracts on Gold. Since middle of March, Goldman Sachs as an example has covered something like 5,000 short contracts - from over 14,000 to now below 9,000. If Gold wasn't going to go up, why would they be covering so many short contracts? Possible manipulation of the price - one has to wonder how long they can go with all the fundamentals. Gold will catch up - when the Euro was around this level - Gold was $1030. It flew too high, too fast, so technicals might still need time to settle and moving averages to rise to attract new, more confident speculators.
Patience is a killer, but a quality we need right now. Just my opinion from things I've read over the last month, but if and when we knew something was for certain we'd all be rich.
