No major orchestrated smash just a continuation of a rearguard defence which is quite surprising considering the circumstances. So is this another signal of bankster impotence regarding gold price interference? I'd say we'll be finding out over the next week.
The fraudulent low of $1863.22 appears to be the actual low so the next port of call to exceed and hold is $1969 and then $2015.71 to end this corrupted down price blip.
It was always going to be difficult for these clowns because of the falling dollar as it retests its recent lows.
COT report signalling commercial shorts covered 12,000 plus contracts as the price dropped just under $100 for the reporting period.I doubt very much whether a single ounce was garnered from this smash as it would have been price speculators who have no interest in taking delivery who sold their positions.
Next week looks to be very interesting.
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