"Who is correct"was your question.i.e gold rises or falls. My answer is both-----at different times. I look at gold as a fruit tree with 3 precious crops a year . The first rise or crop after the northern hemisphere summer is in September . Late Sept & early Oct is weak. Mid Oct to late Dec is 2nd rise or crop- best time of year.Next rise is in European spring, but harder to pick as its the last time in the year to harvest the crop & big players are at their most devious & manipulative. I don't really understand COT reports on positions of commercials, speculators etc. If we go down at all it will be in the current month,October. The banksters, like King Canute, can't hold back the tide or the seasons. Besides, we look like having one of those "Black Swan" events in last week of October ,some sort of repeat of last years financial collapse of about 17 October 08. I think Xmas comes a little early this year if one is a goldbug. Look at chart in-----
www.contraryinvestor.com/mo.htm
I liked what Rick Santelli( the only honest man on CNBC) said last night: "If gold goes to $1500 , oil goes to $200."
