Organised Attack on Gold today failed...Just before the close today Gold got <hit< very hard indeed, Gold was down as much 17$ below$1400....but only lasted a few mibutes, and Gold picked up again well above $1400 to close at $1404, where it is still trading at now...
I might say that showed me at least, that there is/was HUGE interest world wide...This time around, I believe, NO amount of manipulation will work to bring Gold down, since there are numerouss serious threats to our economies, and our debts....
The US$ is about to crack to a new level, closing at 0.77.06, and I would say tomorrow we see that 77 level taken out..It has been straight down for about 9 days, with no end in site....and almost every other currency has been up vs. the US$...The Equities in the US, have already begun to reflect this new threat, and will probably continue their decline, until we see some resolutionof this crisis which is nowhere in site...For the first time in a long time, I heard the dreaded word STAGFLATION BEING USED IN A NUMBER OF public BROADCASTS, as well as the potential major settbacks for US and US$...This crisis is certainly NOT a one day event...
I heard a couple of deadly scenerios, which very few believe will come true....I would not be so sure, like major Oil producers Saudi Arabia and of course Iran...This crisis has been spreading , and in my view, will continue to spread within the ME, it has grown legs, and we will shortly find out just how BIG those legs really are....
PDG held up remarkably well...showing very good strength, even when GOLD WAS SERIOUSLY ATTACKED...that for me is a very good sign...
M99