U.S market closed monday...
Have you ever noticed that the gold price always seems to drop when the american markets are open? or at least 90% of the time?
It's like the rest of the world (Europe and Asia) buy, buy, buy gold and then the americans or those trading gold on american markets sell, sell,sell and drive the price of gold down.
As someone on this board already mentioned, it could get interesting since the U.S. markets with their manipulators will be on vacation monday. Will we see the price of gold break through 675.00 ? Let's hope...
Speaking of manipulators, I believe the price of gold is manipulated. It is self-evident in the fact that governments or central banks of governments are selling gold into the market.
You don't see them selling corn or steel into those respective commodity markets do you? Because if they did, they would bankrupt every farm or steel company on the planet. It is amazing to me, that there even still exists gold and silver mining companies,what with the price of gold and silver so low for so long.
If eventually, gold ends up trading freely or relatively freely, we can see the price soaring to lofty levels...JMHO