gold, page-101543

So a 2 minute of yesterdays action tells the story of a seriously orchestrated attack and cap operation initiated on the aussie market close. It then continued until just before midnight after which it was kept in check around the $1765 to $1770 level.
The retail sales were a beat which would have been known so the game was to get gold well away from $1800



So has the gold rally run its course as it appears. Well not necessarily as a peek at the GDX paints a rather surprisingly benign picture considering the gold price "work down". Its down 1% on not very heavy volume indicating a lack of interest in forcing gold indices/shares lower. The action has closed one gap and there is another just above 31 so we'll see if that gets closed next week.
So far the share damage is very limited so we'll see if this was just a temporary fraudster price setting exercise for the metal which rebounds next week or will it be something more sustainably corrupt.
We shall see.