Biggest attack on the Gold market in history last night. Banks dropped Gold below critical support at US$1465. They beat the Hedge Funds who were trying to drive it above $1520 and ignite a short squeeze. Lost the battle and now Gold likely to head back down to the consolidation zone at $1426-$1383 from July. Will then be a good buying opportunity as the Banks go Long. I am expecting $1600-1700 by Autumn. Any trader type will be bailing today, hence the oversized price moves.
SAR Price at posting:
$3.42 Sentiment: Hold Disclosure: Held
