RE: Is golds ralley legit?What's Changed!
In the context that nothing goes straight up and the momentum trade was getting a bit long
Bigger problems in Europe - Someone might actually have to take a loss as a real default (restructuring) is looking more likely
Middle East looks the same and not getting better
Japans problem is still very bad and now entering the blame game where the Prime Minister likely takes the hit (again)
And with all this you would expect the USD to rally but the DXY still moves lower!
Gold & Silver Futures expiry
Silver in Backwardation till 2015
and
Margin Limits on Gold and Silver increased
Fed Meeting the Press tomorrow afternoon