amb005Gold wasn't "smashed" last night, it was an attempt by the...

amb005

Gold wasn't "smashed" last night, it was an attempt by the "Plunge Protection Team" (PPT) to shore-up the Greenback and US stockmarket. They can't afford for gold to appear as a safe haven right now; uncertainty must prevail in the gold price, or the US is screwed. When the oil bubble pops at around $US148 they want that money rushing into stocks, NOT gold; but I think they're out of luck :-)

Gold actually made a bullish bounce off the upper border of its falling wedge at $US885 - a good sign.

The PPT will probably have another go tonight at the Nymex open, but they will fail in my opinion. Once gold breaks above $US910 then we are on our way.