Stubby red 11 A.M. candle is telling . . Stubby red 11 A.M. candle with a tail shows nearly JUST AS MUCH volume as the green one at 10 a.m. Gold just over 1270.00.
Meaning the ESF and Bullion Banks are throwing the kitchen sink (read: as many naked short contracts as is needed) at Comex futures contracts price to stem the price rise, demonstrating that the buyers are still there.
Looks like KNT / TSX MMs/traders are trying to follow suit but will not be able to.
They will have to attempt shorting higher .. or simply let it rise ..
If AU hits 1280 all bets are off .. but it will be good for longs here thats for sure.
We may hit a dollar again today .. maybe higher ...
All IMO of course
GLTA