I agree ... usually gold would have been beaten down by now after these concentrated attacks, but it just keeps popping back. This has been going on for weeks ... MOST unusual. I also get the feel that it might pop tonight.
Just to dampen the mood a bit, here is Dennis Gartman's (usual) gold smash up tirade ... he hasn't really got much of a clue as far as gold is concerned IMHO, but here is what he reckons ...
"We are reasonably comfortable holding our positions, for the e-mails sent to us by the “Gold Bugs” are more and more disdainful; more and more threatening; more and more certain that we are wrong, and when this has happened in the past and we’ve been even modestly bearish of gold we’ve been proven right and they’ve been proven wrong. The correlation between these sorts of communications and the
movement in gold’s price is really quite extraordinary. When we’ve angered the “Bugs,” the “Bugs” are usually wrong. They’re very angry now. Bet, then, accordingly."
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