Gold is coming back and holding $1750 level now, after being down earlier well below that...NO doubt at all that this current attack on Gold is being manipulated by Futures contracts, many are expiring so will need to renew, so some chaoes there...In addtion Jewish holiday of 2 days , Kippur, will end tonight...many have taken advantage of this holiday to upset/ manipulate the narkets,especially Gold and Metals...The famous Yon Kippur 1967 Mid East war started on Kippur day...And so I expect this volatility to be very temporary...maybe a one day wonder...I firmly beleive that as long as Gold cash holds above $1750 USF, the bullish Gold trend is on track, and will not set lower lows...
All Paper curencies including/especially the Euro is under renewed attack as unrest spreads in Spain and the usual threats of break up of Euro zone...The US$ is not doing much better either, with the economy slowing incrementally, with the FED not being able to do much about it...Once this holiday is over, and many investors retun, we will/should see the resumption of the Gold bull..After all paper moneys are all becoming worthless as we go on...no way out...not even more "printing" paper..
NQ is looking super, with these new extension claims...most all weak selling seems to be over NO trading so far today...very few NQ holders will want to sell now, since we will have major NEWS on a second drill urgently placed in Pistol Bay corridor...must be something BIG...did they figure out the Geology for the MOTHERLOAD of Gold...some say almost 10 gms...not that far fetched as close to 8 gms has already been discovered....Good luck and hang in there...looks like it's going to be a bit of a bumpy ride....BUT in the end the High Grade GOLD is safely locked in the ground, and will be increasing...
Mellow,,,