Gold market very active as "our friends" are no doubt involved because they almost always are. Aussie dollar not helping in this space. A lot of weakness continuing in the explorer and junior space and the weaker majors out there indicating fear. Tokyo down close to 4% at the mo. US futures continue lower as the so called "hawkish Fed" continues to pressure the broader game. Looking at the US crude oil price which when it comes down to it remains the biggest cost to production across the board making it the most important inflation indicator and it doesn't paint the picture of the broader commodity price correction underway at the moment. So if the broader market sell off picks up steam then the golds will probably continue to follow suit. Until the Fed restarts to jawbone in a more dovish manner as they are apt to do when their beloved game looks like it will unravel. Once they begin to weaken their resolve then the $usd will more than likely reverse and gold will bottom. And if they push gold too far it will bottom regardless of what these clowns attempt. We may even have at the least a temporary low now or even the low. Its just a bit too early to tell. We will find out if the $USD continues to rise against a backdrop of a rising gold price. Should be a hell of a week by the look of it.
